10 January 2012

Young Indians Prefer Moving Abroad for Jobs: Ma Foi Randstad

Young Indians prefer overseas employment even without a pay hike for better suited jobs, according to the latest findings of Ma Foi Randstad. About 60 per cent of employees with higher education are willing to move abroad for a better suited job even if the salary remains the same, Ma Foi Randstad's Workmonitor Survey 2011 - Wave4, a quarterly review of 'mental mobility status' of employees says. It finds that about 39 per cent of employees with low level of education would move abroad just for a better suited job that doesn't accompany a good pay.
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In gender, the study says that a significantly higher proportion of men (79 per cent) expect to go abroad for work that promises higher pay as compared to women (65 per cent). Commenting on the findings of the survey, Ma Foi Randstad Managing Director and CEO E Balaji says, "Attracting and retaining right talent would be the biggest challenge for any organisation in the coming years. With technology advancements, many traditional systems like eight hour work day and control approach are fast disappearing and impacting the work styles and approach to work."

The growing opportunities have created a major change in the mindsets of the young employees, for whom money is an important driver but they are also driven by work place flexibility, right culture, challenging roles, career growth and bosses with inspirational approach towards work. "Companies should re-orient their work culture to address employee needs, to succeed in the emerging war for talent, which will become the key to retain their place in the marketplace," he adds. The survey further finds that India continued to remain the highest mobility index of 144 amongst all the countries. This is in line with the findings that emerged in all the previous eight quarterly surveys conducted since first quarter of 2010.

The mobility index is least in Luxembourg with Germany and Italy following suit indicating least employee churn. About 45 per cent of the workforce believes in focus on promotion and 34 per cent believe in doing something different, the survey notes. This trend is consistent amongst all workgroups based on income, location, gender, type of employment and such others.

The preference for moving into a higher position based on existing experience is higher than to venture into a role that is different from their existing role, it says. It also points out that about 81 per cent of men expect to work beyond their retirement age and a nearly equally high proportion of women (74 per cent), expect to work beyond their retirement age.