- Category: Latest Updates
- Published on Thursday, 06 March 2014 11:05
Paper analyses motives behind employees moving jobs across five key sectors: engineering, IT, financial services, FMCG and pharmaceuticals
Global workforce solutions leader, Kelly Services has released their findings of the Kelly Services India report titled ‘Understanding the mind of an employee’. This paper analyses motives behind employees moving jobs across five key sectors: engineering, IT, financial services, FMCG and pharmaceuticals. It is a given that employees do shift jobs for financial gains. This report throws light on the reasons behind employee movements Kelly Services India saw in 2013.
This report also gives some direction to employers who might see active job movements once the appraisal cycle ends this year. The reasons in 2014 are unlikely to be any different. It gives HR professionals an opportunity to reflect and attempt remedial measures to address the same.
“There is a need for today’s HR to identify the key factors that lead to movement of the employees across sectors and deploy necessary retention plans,” said, Kamal Karanth, Managing Director, Kelly Services India.
Life Science and pharma seem to be sectors witnessing progress in terms of hiring IT professionals from mainstream IT Industry. The pharma sector saw that the major motivator to change jobs is better and higher position/role than the current one, and the benefits/ incentives associated with it like compensation hikes, perks, career development, etc.
Karanth further added, “It is vital for leadership teams and HR departments to constantly revive policies for the existing employees. At the same time it is equally important for them to think of various strategies to engage better with them so that the rate of workforce retention increases.”
|Key findings pertaining to the India landscape|
|Factors driving job movement||Sector|
|Better roles, quality of work/ projects and salary hikes||Financial Services|
|Better roles, and the benefits/ incentives associated||FMCG|
|Better and higher position/ role than the current one, and the benefits/ incentives associated with it like compensation hikes, perks, career development, etc||Pharmaceuticals|
|Did candidates move industries|
5 per cent of the total placements move industries.
The ones that moved were in cases of support functions and in the engineering services vertical
Life Science and pharma seem to be sectors witnessing progress in terms of hiring IT professionals from mainstream IT Industry
Among all other industries, BFSI continues to lead in hiring IT professionals as improved technology is key for banking industry to innovate and progress
For functions like HR, finance, audit, legal and procurement, candidates were open to move industries
However, we did not see any movements in roles that are domain specific.
|Movement was seen in sales, marketing, supply chain, finance and at mid-levels||FMCG|
|Movement of candidates within the broad Pharma/ Life science sectors is quite common with candidates moving from pharma companies to medical devices, clinical research organisations, B2B Pharma/Life science cos, diagnostics, CROs, etc.||Pharmaceuticals|
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