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For now, employees prefer stability to monetary gains: Experts

Despite the employment mkt being much better than '08, employees are still cautious in changing jobs. Highest-paying professions | Don't let toxic boss get you down

Mar 28, 2010, 02.17 PM IST
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NEW DELHI: For the job hoppers seeking purple patches, stability seems to be the watchword rather than monetary incentives, till corporate hirings return to the pre-downturn levels, feel experts.

According to them, despite the employment market being much better than 2008, employees are still cautious in changing their jobs.

"Global economic slowdown has made employees more loyal to their existing organisations. They believe with positive attitude of management and active communication with staff, their firms have succeeded in making their workforce more engaged inspite of uncertainty," human resource consultancy Planman HR managing partner Deepak Kaistha said.

"With the market condition improving, they will certainly get lucrative offers. But, before shifting out they will consider sustainability at the organization," Kaistha added.

"The downturn has led to a shift in career preferences of individuals as they are preferring stability of jobs over higher monetary incentives.

People are looking at government jobs as they are a safe bet even amid downturn like situations," State Bank of India chief marketing executive Rajendra Prasad said.

However, the trend is expected to reverse, once companies start robust hiring activities.

"I believe the shifting or job hopping will begin with the improvement in the job market. Attritions are also likely to go up once again," business group JK Organisation president (corporate HR) Prakash V Bhide said.

Pointing out that talented people would continue to look for greener pastures, he stressed that hiring would definitely pick up, especially in sectors such as telecom and insurance.

Recently, a survey by global workforce solutions provider Kelly Services also revealed that about 36 per cent of the Indian employees surveyed, believe that the economic downturn had made them more loyal to their existing firms.

On the other hand, global executive search firm DHR International executive VP Vikram Chhachhi believes loyalty of an employee depends on specific companies and their staff policies.

"So, it depends on the personal choice of a worker and his or her bond with the their specific companies," he added.

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