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1、www.rgf-Unlocking New Opportunities:Talent in Asia 2024IndiaRGFs Talent in Asia Report is conducted annually,with the aim of better understanding the needs and behaviours of candidates across Mainland China,Singapore,India and Japan.About This report is based on RGF-owned data compiled via a targete

2、d survey of more than 1,100 employees and employers across seven key industry sectors:Banking,Insurance&Financial ServicesConsumer Goods,Retail&HospitalityElectronics&MaterialsHealthcare&Life SciencesIndustrial ManufacturingProfessional Services&Business Process OutsourcingTechnology,Media&Telecommu

3、nicationsThe survey findings and insights,supplemented with insights from employers,highlight respondents talent sentiment,talent activity,salary and compensation,views on AI in the workplace,upskilling,and ESG.Our report also includes recommendations for both talent and employers.Due to the real-ti

4、me nature of some of this data,RGF encourages readers to use its insights at their discretion.2Contents02About this Report04From our Managing Director05Talent in India:At a GlanceAn overview of our findings.08Market OverviewIndia looks ahead to robusteconomic growth and innovation.12Talent Sentiment

5、 for 2024:Rising concern,but bright spots remainTalent optimism is 23%lower than last year.15Talent ActivityActive job-seeking and career mobility remain high.20Salary and CompensationTalent and employers are on the same page aboutcompensation.24AI in the Workplace59%of talent have embraced AI in th

6、e workplace.26Upskilling81%of talent received training funded by their companies.29Environmental,Social,and Governance(ESG)and FlexibilityA generational shift is taking shape as young talentvalue sustainability.32Recommendations for TalentTalent should stay relevant by keeping up-to-date onindustry

7、trends,skills,and AI know-how.34Recommendations for EmployersAlternative benefits,upskilling,and continuousflexibility will help employers to attract top talent.11Key Findings36About RGF34Managing DirectorSachin KulshresthaManaging Director,RGF Professional Recruitment IndiaDear Readers,As Indias ec

8、onomy continues to grow at a robust pace,the labour landscape remains highly mobile and dynamic.More than ever,Indias talent is actively seeking new opportunities,fuelled by various factors:better compensation,a quest for career progression,and layoffs.On the employers side of the equation,we get a

9、more cautious picture of hiring activity.Amidst a worldwide economic downturn,global companies are more careful about hiring in 2024 as compared to previous years.Meanwhile,local businesses show a stronger hiring focus on senior talent as they embark on expansion.But hiring activity is picking up in

10、 the second half of the year.After Indias surprising election results in June 2024,the labour market slowed down but gradually,local companies are restarting their hiring.AI has taken many industries by storm,and HR is no exception.More hiring managers are leveraging AI tools to streamline their rec

11、ruitment activities,from creating job postings to headhunting.With more companies choosing to conduct hiring for junior roles in-house,this may empower companies to find the right talent faster and improve the recruitment experience.Looking ahead,flexibility will be key for organisations to compete

12、in the future of talent management.With todays talent expecting flexible working options,companies that offer remote work will have a competitive edge in the market.As the skills needed for businesses to succeed evolve rapidly,those that embrace diverse talent and foster an inclusive workplace will

13、be better equipped for innovation.Our Talent in Asia Report provides a comprehensive view of Indias talent landscape,uncovering actionable insights for companies to optimise their talent acquisition and retention strategies.It offers a window into candidates sentiments,values,and aspirations across

14、different sectors and at different levels.Insights from this report can help companies to meet talents evolving needs more efficiently,so as to stay ahead of the game in a highly dynamic market.Talent in India:5High Hopes Remain Amidst Rising CautionMost Optimistic Industries80%2024202377%78%Semicon

15、ductor,Electronics&ManufacturingConsumer Goods,Retail&HospitalityHealthcare&Life SciencesA Mobile And Dynamic Job Marketof talent are actively looking for a new jobare not actively looking but open to new opportunitiesare not looking for a new jobSatisfied with compensationis the expected salary inc

16、rease when changing jobsaverage salary increase received by those who changed jobsreceived a salary increase in the last 12 months68%32%0%2024202357%Salary or benefits package59%Salary or benefits package48%Lack of opportunitiesfor career progression40%Lack of opportunitiesfor career progression26%M

17、anagement style andcompany culture23%Poor work-lifebalance22%Layoffs or company organisational changes18%Management style and company culture17%Concerns about job security15%Lack of training and development opportunities50%30%14%65%Top Reasons Why Talent Are Looking For New JobsHigher Talent Satisfa

18、ction With CompensationOptimisticNeutralPessimistic12%47%70%21%9%41%6Embracing the AI RevolutionStrong Commitment to ESG and D&IHybrid Work Arrangements On Talent WishlistTop Flexible Work Arrangements Offered by CompaniesTalents Demand Upskilling and Trainingof talent said they used AI tools at wor

19、k.59%of talent have benefited from upskilling or trainingof talent said environment,social,and governance(ESG)considerations were important or very important when joining a companyof talent highlighted that a hybrid working model was most beneficial for their productivitycurrently have a hybrid work

20、 arrangementsaid their companies have ESG policies and guidelinesBut onlyof talent said their companies had made efforts to promote diversity and inclusionEmployees preferences for a work-from-home model have increased significantlyfind company-funded training programmes usefulof such programmes wer

21、e company-fundedContextual or graphic content creationAdministrativeMost common use cases of AI:77%Data analysis15%affairs81%65%80%80%56%67%100%67%8%2024202356%69%25%10%19%21%Working from homeWorking in the officeHybrid workingFlexible working hoursHybrid work arrangementsCompetitive annual leave en

22、titlement47%44%23%Which working model do you think is most beneficial for your productivity?7Market8Forcasted GDP growth 2024-2025Despite global headwinds and inflation pressures,India maintained its robust economic growth from 2023 to 2024.The countrys 8.15%year-over-year(YoY)growth exceeded all ma

23、rket predictions,on the back offast-growing consumer spending and economic reforms aimed at fostering a better business environment.This strong performance is only set to continue:its GDP growth is forecasted to hit 7%from 2024 to 2025.Already known as an emerging global manufacturing hub,Indias man

24、ufacturing industry hit a16-year high of 59.1 PMI(Purchasing Managers Index)in April this year,buoyed by both domestic and external demand.Employment in manufacturing grew as a result,and our survey captures talents optimistic outlook for their future in this industry.Another promising industry is t

25、he Fast-Moving Consumer Goods(FMCG)sector,which saw a 10.2%increase in value sales from 2023 to 2024.However,shockwaves from the global downturn in tech have reached India as well.An estimated 20,000 employees in the countrys IT sector faced silent layoffs in 2023,and hundreds more have been let go

26、inhigh-profile layoffs this year.Our report charts rising concerns about job security and its consequences on job-seeking activity by talent in India.7%9pledged by the government to create jobs and develop skills in the next 5 yearsINR 2 TrillionYet when one door closes,another opens.2023 also marke

27、d the rise of generative artificial intelligence(AI),and Indias tech industry will face a shortage of one million AI professionals in the nexttwo to three years.This opens up new avenues for job creation,and makes it more urgent that organisations and talent invest in upskilling to meet these fast-e

28、volving digital needs.The Indian governments renewed focus on employment and training bodes well for talent as well as employers.In its Union Budget 2024-2025,the government pledged to allocate INR 2 trillion(USD 24 billion)to create jobs and develop skills programmes over the next five years.The ma

29、jority of ourrespondents are also proactively seeking training and opportunities for career advancement,poising one of the worlds youngest and largest workforces to reach greater heights.10Key 11Bucking the trend of growing optimism in recent years,respondents reported more neutral or pessimistic se

30、ntiments for 2024.Only 47%expressed an optimistic or relatively optimist outlook for the nextsix to 12 months a significant drop of 23 percentage points from 2023.41%of talent indicated a neutral outlook for their industry,with another 12%adopting a negative outlook.Talent Sentiment for 2024:Outlook

31、20242023Optimistic47%70%Neutral41%21%Pessimistic12%9%12Among those who felt pessimistic,concerns around technological transformation and talent shifts took centre stage.Unlike 2023,where worries about the global economy and the impact of COVID-19 remained top of mind,employees are now preoccupied wi

32、th their industrys lack of digital transformation(50%)and negative talent changes(50%).This may reflect unease triggered by the rise of artificial intelligence(AI)and its potential to replace jobs.Notably,younger talent aged 31-35 feel the most neutral and pessimistic.Those in the Technology,Media&T

33、elecommunications sector also signalled a decrease in optimism from 77%last year to 62%this year,perhaps resulting from waves of mass layoffs in the tech industry.However,bright spots remain on the horizon.Optimistic respondents cite increased innovation(87%),positive competition(67%),and technologi

34、cal advancements(60%)as their top reasons for positive sentiments.Senior professionals aged 41 and above are markedly more optimistic.Industries with high demand also show more optimism,including Consumer Goods,Retail&Hospitality;Semiconductor,Electronics&Manufacturing;and Healthcare&Life Sciences.T

35、op reasons cited for positive outlook:Top reasons cited for neutral outlook:Top reasons cited for negative outlook:47%Increased innovation inthe industry40%Global economic predictionshave had little to no impact50%Negative talent changes inthe industry67%Positive competition inthe industry40%No chan

36、ge in technology ordigital transformation50%Lack of technology or digitaltransformation60%Advancements in technologyor digital transformation40%Customer lifestyles/beliefs/demands remain unchanged25%Negative global economicpredictions13Employer Perspective:Growing ConfidenceCompared to talent,employ

37、ers showed significantly more confidence in their industrys growth for the next six to 12 months.77%of respondents expressed optimism or relative optimism,thanks to technological advancements(51%)and favourable changes in customer preferences(43%).Another 17%of employers reported feeling neutral abo

38、ut their industrys prospects,with only 6%feeling pessimistic.Optimism was highest in the Construction,Property&Engineering(78%)and Semiconductor,Electronics&Manufacturing(92%)sectors;the Healthcare&Life Sciences sector and the Banking,Insurance&Financial Services sector maintained a cautious outlook

39、.Amidst this optimism,employers in India are feeling the pinch from broader economic challenges.52%predicted that their business operations would be impacted or extremely impacted by external factors,such as inflation or a recession,in the next six months.Respondents also anticipated that talent ret

40、ention(65%)and talent shortage(40%)would be their most significant employee challenges this year.In response,employers are adopting online interviews(67%)and shortening the recruitment process(41%)to combat these challenges.2024OutlookMost Optimistic IndustrySemiconductor,Electronics&Manufacturing(9

41、2%)Banking,Insurance&Financial Services(25%)Construction,Property&Engineering(11%)Most Neutral IndustryMost Pessimistic IndustryTop reasons cited for positive outlook:Top reasons cited for neutral outlook:Top reasons cited for negative outlook:47%Increased innovation in the industry40%Global economi

42、c predictions have had little to no impact50%Negative talent changes in the industry67%Positive competition in theindustry40%No change in technology or digital transformation50%Lack of technology or digital transformation60%Advancements in technology or digital transformation40%Customer lifestyles/b

43、eliefs/demands remain unchanged25%Negative global economicpredictions14Talent ActivityAre you actively looking for a new job?20242023Yes68%63%No0%9%No,but Im open to new opportunities32%29%Seeking opportunities in a highly dynamic job marketIndias talent pool remains highly dynamic and opportunity-s

44、eeking,with 68%of professionals actively looking for a new job.A further 32%were open to new opportunities,suggesting that talents see possibilities for career advancement in the current market.15This active job search is driven by both internal and external factors.Two external factors that have ne

45、wly emerged are layoffs and concerns about job security,reflecting this years volatile job market:Salary or benefits package(57%)Lack of opportunities for career progression(48%)Management style and company culture(26%)Layoffs and company organisational changes(22%)Concerns about job security(17%)Am

46、ong those not seeking to switch jobs,salary and career opportunities are the winning factors.Salary or benefits package(67%)and opportunities for career progression(67%)were employees top reasons for staying with their current employer overtaking work-life balance as the top reason in 2023.16Approac

47、hAge groupNot actively lookingDifferent satisfaction levels across industriesCertain industries reveal higher levels of active job-seekers,particularly Banking,Insurance&Financial Services(83%)and Construction,Property&Engineering(79%).In these industries,opportunities for career progression is the

48、key motivator behind talents desire for a job change.One industry which appears to have higher talent satisfaction is Healthcare&Life Sciences,where 55%are not actively searching for jobs.This is due to satisfaction with their current salary or benefits package(67%)and opportunities for career progr

49、ession(67%)among the highest indicated across industries in this surveyDifferent approaches across agesYounger professionals(aged 20-35)showed a higher penchant for job change,with 80%of talent in the 26-30 age group actively seeking new jobs.By contrast,senior talent aged 36 and above displayed a m

50、ore balanced approach.In particular,41%of those aged 46 and above were not actively looking,but open to opportunities.Across all age groups,salary and career progression remained the top driving forces for a job change.Mid-career professionals especially valued the right salary or benefits package,w

51、ith 62%of those aged 36-40 and 50%of those aged 41-45 pointing to this as the reason for staying in their current job.But other factors come into play as well:for those aged 26-40,lack of training or development opportunities is one of the top causes behind their search for a new employer.Career mob

52、ility is highWith a talent pool that is keen for new opportunities,Indias professionals show high job mobility.29%have changed jobs within the last 12 months,and 37%have done so between one to three years ago.Moreover,60%reported having switched employers between one to three times in the last three

53、 to five years.Mobility is particularly high in sectors like Semiconductor,Electronics&Manufacturing,where 81%have changed jobs within the last 3 years.Industries like Construction,Property&Engineering show more stability,with 54%never having changed jobs in the past 3-5 years.Most inactive job seek

54、ers55%Healthcare&Life SciencesMost proactive job-seekers83%Banking,Insurance&Financial Services79%Construction,Property&EngineeringActively seeking new jobsdiplayed a more balanced approach26-3036 Above46 Above80%41%17Employer Perspective:Hiring on the upswing as business activity growsEmployers act

55、ively hiring Employers not actively hiring Employers that are unsure68%of employers said that they are currently actively hiring a promising increase of 6 percentage points from last year.Only 18%reported not actively recruiting,while 14%remained unsure.The active hiring status of most organisations

56、 in India points to a robust business landscape,in line with employers confidence in industry growth.While 76%of employers highlighted replacing vacancies in existing positions as their top reason for recruitment,another 71%cited new vacancies in new business lines or units,suggesting widespread bus

57、iness expansion and diversification.Sectors with strong industry growth showed higher hiring activity,including Healthcare&Life Sciences(80%actively hiring)and Construction,Property&Engineering(78%).Meanwhile,companies not actively recruiting pointed to budget and business constraints as key barrier

58、s to hiring:No vacancy for additional headcount(60%)Business changes/downsizing(60%)Not enough budget for hiring(50%)Impact of external factors such as recession and inflation(40%)68%18%14%Hiring activity is set to ramp up furtherLooking ahead to the next six months,46%of employers predicted that th

59、eir organisations hiring activity would increase,while 32%anticipated that it would remain the same.This positive outlook suggests an even more robust job market in the later half of 2024Hiring activity in the next six months20242023Increased46%39%Decreased12%13%Remained the same32%33%To support hir

60、ing activity,the majority of organisations(89%)have a dedicated Talent Acquisition team.Among these,48%have a mid-sized team of 4-10 people.The prevalence of a Talent Acquisition team indicates the importance of structured recruitment processes for a highly mobile talent pool.18Top 3 hiring channels

61、 for employers1In-house talent acquisition team2Headhunter/Recruitment agencies3Internal referral/transferEffective recruitment processesThe hiring process is efficient for most companies,with 51%managing to fill vacancies within one to three months.However,some industries grapple with longer hiring

62、 times.In Construction,Property&Engineering,63%of roles are filled in three to six months.Similarly,67%of positions in Banking,Insurance&Financial Services are filled in three to six months,possibly reflecting the competitiveness of the market or the specialised skills needed in these sectors.Conver

63、sely,71%of employers in the Semiconductor,Electronics&Manufacturing sector could fill a post within one to three months,and 40%of those in Healthcare&Life Science could do so in a month.Besides in-house Talent Acquisition teams,employers are turning to external recruitment services to meet hiring ne

64、eds.50%of respondents used recruitment or headhunting services in the past three years.Average time taken to fill a positionWithin 1 month7%1 to 3 months51%3 to 6 months36%6 months and above4%19Salary and CompensationReceived an annual salary increase in the past 12 months65%Satisfaction with salary

65、 increments,but room for improvement65%of talent reported receiving an annual salary increase in the past 12 months,and this proactive approach to talent recognition by employers seems to be paying off.50%of respondents say they are satisfied with the total compensation packages provided by their cu

66、rrent employer up from 39%last year.At the same time,the high proportion of neutral sentiments(38%)indicates room for improvement in benefits and compensation.Mid-career professionals are more likely to feel neutral or discontented 26%of those aged 36-40 indicated dissatisfaction with their compensa

67、tion,and 62%of those in the 41-45 age group indicated feeling neutral.50%Satisfied with total compensation38%Neutral in sentiment with total compensation20Compensation by the NumbersSalary Increases by IndustryThe Healthcare&Life Sciences sector showed the highest average increase in salary of 28%,r

68、eflecting a significant investment in talent.This investment varies widely across organisations 50%of talent in Healthcare&Life Sciences reported not receiving a salary increase at all.Overall,however,75%of talent in this sector expressed that they are satisfied or very satisfied with their current

69、compensation package.Conversely,the majority of employees in Consumer Goods,Retail&Hospitality(89%)and Construction,Property&Engineering(100%)enjoyed a modest raise.Expected Salary Increases for Changing Jobs,by IndustryTalent in India have high expectations for salary increases when switching jobs

70、candidates expected salary increase is 30%on average.While this figure has decreased from last year,it still contrasts with the average salary increase of 14%reported by those who changed jobs in the last 12 months.received a salary increase in the past yearaverage salary increase with the same empl

71、oyeraverage salary increase for thoseYounger professionals aged 26-30 saw the highest salary increase(30%)14%who changed jobs in the past year65%12%28%13%12%11%8%7%5%41%32%32%30%15%13%8%21Factors Considered for Switching JobsWhen considering a job offer,salary and compensation remains top of mind fo

72、r talent across all age groups.However,candidates also value growth opportunities and place greater focus on job responsibilities.Mind the Gap inNon-Compensation BenefitsSome talent who received no salary increase from their current employer were compensated in other ways:22%benefited from allowance

73、s,while another 22%received company shares.However,a large number(44%)received no alternative benefits at all,pointing to a significant gap in overall compensation packages.2024202368%Salary andcompensation72%Salary andcompensation55%Career development opportunities59%Career development opportunitie

74、s50%Job responsibilities35%Corporate culture32%Corporate culture31%Job responsibilities27%Location22%Location22%22%11%11%11%11%Employer Perspective:Salary Expectations on the Same PageCandidates salary expectations have decreased slightly from the previous year,while employers willingness to offer a

75、 pay increase has risen leading to both sides seeing eye to eye on salary.83%of companies plan to provide annual salary increases to their employees in the next six to12 months,signalling a strong commitment to competitive compensation.15%do not plan to raise salaries,and only 2%foresee decreasing s

76、alaries.For employers planning to boost salaries,the average increment offered is 12%aligning closely with talents actual salary increase in 2023.When it comes to hiring externally,employers cited 27%as a reasonable salary raise to attract candidates on average matching fairly well with job-hoppers

77、expected increment of 30%.22Average Salary Increase When Hiring Externally,By IndustryRethinking Alternative BenefitsThe Construction,Property&Engineering and Technology,Media&Telecommunications sectors are expected to offer the most generous raisesto attract talent(31%).The most cautious industry i

78、s Semiconductor,Electronics&Manufacturing,averaging a 21%expected increase.As for employers with no plans to increase salaries,71%do not foresee offering alternative benefits either highlighting a worrying gap in compensation.However,those who will offer alternative benefits are focused on flexible

79、work arrangements(29%),flexible working hours(14%),and employee wellbeing benefits(14%).This emphasis on flexibility may be well-aligned with talent needs,as work-life balance is a top factor in motivating employees to stay with their current company.15%13%12%10%9%7%6%71%Of employers with noplans to

80、 increase salaries do not foresee offering alternative benefits23AI in the WorkplaceEmbracing the AI revolutionIndia is fast emerging as a global AI powerhouse,with 59%of enterprise-scale organisations already actively leveraging AI to accelerate innovation and productivity.Our respondents confirm t

81、his widespread embracing of AI:59%reported that their companies are open to using AI tools at work.Right now,data analysis is by far the most common use of AI(77%),followed by administrative tasks(15%).Understandably,sectors that require advanced data analysis and process automation including Bankin

82、g,Insurance&Financial Services and Professional Services&Process Outsourcing also have the highest proportion of companies open to using AI.AI tools are increasingly adopted across various functions as well:38%23%15%Information TechnologyMarketingAccounting/Finance24Recognising AIs potential and lim

83、itationsRespondents across all age groups acknowledge the transformative potential of AI,with 86%believing that between 1%to 50%of their work could be replaced by AI.Only 14%said that none of their work scope could be taken over by AI,while none of the respondents indicated that more than half of th

84、eir role could be replaced.Mid-career professionals aged 31-40 show greater optimism in AIs potential;over 75%suggested that AI could replace 11-30%of work tasks.Ultimately,most talent believe that AI could transform a small to moderate proportion of their work,at the same time recognising the limit

85、ations that prevent it from completely replacing humans.86%of respondents believe that between 1%to 50%of their work could be replaced by AIEmployer Perspective:AI Adoption on the RiseIn line with employee responses,the majority of organisations(59%)reported being willing to adopt AI tools.Employers

86、 thoughts on the application of AI to various functions and use cases also largely matched employees experiences:Leading the charge in AI adoption are the Technology,Media&Telecommunications(67%yes)and Banking,Insurance and Financial Services(100%yes)sectors,perhaps owing to a higher reliance on dat

87、a and digital processes.On the other hand,the Consumer Goods,Retail&Hospitality sector trails behind with 80%of employers not open to AI.Similarly to talent,most organisations(78%)believe that AI is capable of automating a small to moderate portion of work tasks(1-50%).However,responses vary across

88、industries,reflecting different levels of AI maturity:while 67%of employers in Technology,Media&Telecommunications said that 11-30%of tasks were replaceable by AI,60%of those in Construction,Property&Engineering believed that none of their work scope could be replaced46%62%15%8%19%19%AI use casesFun

89、ctions that use AI the most25UpskillingWith more talent valuing opportunities for training and career progression,companies are stepping up to the plate.81%of employees have benefited from upskilling courses or training programmes;among these,65%reported that such training was company-funded.Interes

90、tingly,younger professionals(aged 26-30)and mid-career professionals(aged 36-40)were more likely to have access to upskilling opportunities,with 83%and 86%respectively receiving training.In contrast,42%of talent in the 41-45 aged group had not received upskilling,suggesting a gap in focused training

91、 for experienced professionals.81%of employees have benefited from upskilling courses or training programmes26What Types of Training Do Employees Want?When asked about the upskilling they hoped for,respondents cited a mix of business strategy and technical skills development.Younger professionals we

92、re more focused on building their technical skills,while mid-career professionals who might be taking up leadership roles prioritised business strategy.Perception of the Usefulness of Training ReceivedHow useful do you find this training or upskilling?44%31%13%Business Strategies Boost(including bus

93、iness development,business planning,business negotiation,cost management,budgeting and forecasting,etc)Technical Skills Development(including data analytics,visualisation,digitalisation,etc)30%50%Useful Very UsefulNot Useful20%While the majority of respondents find their company-funded courses usefu

94、l,younger professionals have more of a mixed response.25%of those aged 26-30 and 20%of those aged 31-35 found their training not useful,indicating some level of mismatch with their career goals and their proactiveness towards learning.Few professionals benefit from regular training multiple times a

95、year,although sectors like Healthcare&Life Sciences as well as Consumer Goods,Retail&Hospitality buck the trend.Putting the Spotlight on Continuous LearningAt the moment,most companies are taking a reactive rather than proactive approach to upskilling.Out of those who received company-funded trainin

96、g,55%said that training is provided only upon request.How often does your company send you for upskilling courses or training programmes?55%36%9%Only upon request1-2 times a yearMore than 3 times a yearCertifications and Professional Programmes(HRCM,CFA,CPA,etc.)27Employer Perspective:Enhancing Alig

97、nment with Talent on Key Career Development FactorsThe majority of organisations(69%)reported investing in upskilling courses and training programmes for their employees,among which 84%were company-funded.Talent training was an especial focus in the Semiconductor,Electronics&Manufacturing sector,wit

98、h 80%indicating a commitment to upskilling.In line with talent feedback,industries like Consumer Goods,Retail&Hospitality along with Healthcare&Life Sciences reflected a greater emphasis on proactive training at least once or twice a year.However,responses suggested a misalignment between the types

99、of upskilling that employers prioritised and those that were in-demand for employees.Whereas 44%of talent desired training in business strategies,only 16%of employers identified this as in-demand.And while soft skills did not feature on employees radar,23%of employers valued such training.45%23%Tech

100、nical Skills Development(including data analytics,visualisation,digitalisation,etc.)Soft Skills Enhancement(including communication skills,leadership and management,time management and productivity)16%Business Strategies Boost(including business development,business planning,business negotiation,cos

101、t management,budgeting and forecasting,etc.)28Environmental,Social&Governance(ESG)and Flexibility42%38%11%9%Talent prefer employers that align with their valuesAmidst rising concern about global warming and carbon pollution in India,more talent are considering the ESG values of potential employers.8

102、0%of respondents said that ESG considerations were important to them when joining a company,and 67%said their companies have ESG policies and guidelines.A generational shift is taking place,as younger professionals tend to choose companies that demonstrate a commitment to sustainability.80%of talent

103、 aged 26-35 indicated that ESG factors were important to them,and 80%are also currently working in companies with specific policies to promote ESG practices.How important are ESG considerations to you when joining a company?29The Importance of Flexible Working OptionsWith talent expecting flexible w

104、orking options today,organisations are accommodating this shift.56%of respondents indicated that their company offered flexible working hours,and 38%benefited from hybrid work-from-home and office arrangements.While this suggests a growing acceptance of diverse work preferences,there remains some ro

105、om for improvement given that a majority of respondents(56%)believe a hybrid working model is most beneficial for their productivity.Another 25%said that working from home was best for their productivity an increase of 15 percentage points from last year.When looking for a new job,flexible working h

106、ours(75%)topped talents wishlist for work-life balance,followed by hybrid work arrangements(63%).Notably,job-seekers want more competitive annual leave(56%)demand for this perk has risen sharply from 2023.Which working model is most beneficial for your productivity?20242023Working in the office19%21

107、%Hybrid working56%69%Working from home25%10%Most important flexible working options for candidates considering new roles2024202375%62%63%58%56%37%56%33%30Employer Perspective:Recognising The Importance of ValuesEmployers in India show a strong recognition of how ESG considerations can attract top ta

108、lent in todays job market,with 44%rating this as very important and 29%as important.The Semiconductor,Electronics&Manufacturing sector is an exception:60%rated ESG considerations as only somewhat important or not important.This response aligns with talent perceptions;Semiconductor,Electronics andMan

109、ufacturing is the only industry where 0%of talent ranked ESG considerations as very important.In line with talents perspective,the majority of employers(69%)also have policies in place to assess and promote ESG practices.Despite perceived talent indifference to ESG considerations,80%of employers in

110、Semiconductor,Electronics&Manufacturingalso indicated a higher-than-average commitment to sustainability,perhaps owing to regulations in the sector.Meanwhile,only 20%of those in Construction,Property&Engineering had such policies in place,indicating a need for increased focus on ESG initiatives.29%1

111、3%13%44%How important are ESG considerations in attracting top talent?Diversity&InclusionFlexibilityWhen asked if their organisation had specific efforts to promote diversity and inclusion,73%of employers said they did and 27%did not.Employers indicated that flexible working hours(47%)and hybrid wor

112、k arrangements(44%)were the top flexible working options offered by their organisations,tallying with employee feedback.Hybrid work proved to be a particularly common arrangement in the Technology,Media&Telecommunications sector,as 75%of employers offered this.Employers perspectives on the working m

113、odel most conducive to productivity diverged somewhat from talent sentiments.While 67%agreed with talent that a hybrid working model is best for productivity,26%rated working in the office as the next most beneficial model.Only 7%felt that working from home benefited productivity.Top employers offer

114、ing D&I support,by industry:Banking,Insurance&Financial ServicesSemiconductor,Electronics&ManufacturingHealthcare&Life Sciences47%Flexible working hours44%Hybrid work arrangements100%100%80%Top flexible working options31Recommendations for TalentStay prepared for new opportunitiesOrganisations acros

115、s the board are showing optimism for the coming year and planning to ramp up their hiring activities.To make the most of these new opportunities,candidates should stay up-to-date on market trends and industry developments.Showcasing a strong grasp of how ones industry is evolving will impress employ

116、ers and enable talent to negotiate fair compensation for their skills.Beyond searching for publicly advertised openings,candidates can look to attend industry events,panel discussions,or webinars.Such events help talent build connections that can potentially open doors to opportunities.32Keep your s

117、kills sharpAs technological innovation reshapes industries,candidates who continuously upskill will gaina competitive edge.This may involve asking employers for more company-funded training,enrolling in affordable courses on their own time,or investing in additional certifications and higher educati

118、on.Our survey revealed a mismatch between the types of upskilling that candidates want and those that are in-demand for employers.It is crucial for talent to first identify the most relevant areas for skills training by consulting their employers,doing research on industry trends,and understanding t

119、heir own career interests.This ensures thatsuch upskilling efforts will be effective to boost employability in their desired career paths.Take advantage of AIAI is already transforming the business landscape,and its impact will only grow as the technology matures.While the majority of talent in Indi

120、a embrace AI tools in the workplace,most believe that AI will replace 30%or less of their job scope.It will be crucial for talent to imagine new possibilities for AI and leverage such tools in new ways.Besides streamlining tasks and driving efficiency,AI may be able to revolutionise the way business

121、es make data-driven decisions,predict future trends,and deliver personalised experiences to customers.Talent should master the fundamentals of prompt engineering and experiment with ways to unlock the power of this game-changing technology.33Recommendations for EmployersExplore alternative benefits

122、to attract talentWith such a mobile and opportunity-seeking talent pool,it is no mystery why talent retention is the top employee challenge for organisations in India.While salary remains top of mind for talent across all age groups,it may not always be viable for employers to match employees salary

123、 expectations.To increase talent satisfaction,employers should look beyond salary and explore alternative benefits to offer.Employees highly value opportunities for growth and career progression,making it important for companies to support their development.Providing clear career pathways tailored t

124、o each employees goals and assigning mentors to oversee their growth can resonate with employees.34Invest more in upskilling talentOur survey showed that the majority of talent only received company-funded training upon request,with few benefiting from regular training multiple times a year.In today

125、s fast-moving and digitally transforming business landscape,it pays for companies to take a proactive approach by upskilling talent regularly.Organisations also need to better align with employees on the types of skills training essential to their professional advancement.Rather than providing one-s

126、ize-fits-all training programmes,employers can work with talent to understand their upskilling goals and develop customised training plans each year.This ensures that talent find their training useful,while preparing them to fill gaps in the organisations needs.Lean into flexible work optionsBoth em

127、ployers and employees agree that the hybrid work model remains the top choice to optimise productivity but only 38%of talent today are benefiting from hybrid arrangements.While implementing hybrid work may be challenging for certain industries,companies should aim to offer such arrangements where po

128、ssible to drive greater talent satisfaction and efficiency.To make this viable,employers can build more flexibility into their hybrid work model.For example,if it is necessary for employees to be on-site orin-office for certain tasks everyday,employers can give them the option to work from home afte

129、r completing these tasks or choose their own work-from-home hours.35RGF International Recruitment is the global brand of Recruit Group.RGF International Recruitment provides total recruiting solutions of superior quality that advance the career opportunities of individuals at all levels.Through unri

130、valed service,dedication to the best recruitment solutions and a commitment to our clients and candidates,RGF has grown rapidly to become one of the largest regional networks in 18 offices across Asia.We aim to unleash the potential of individuals and companies by providing consistently superior HR

131、solutions.For more information,market insights,and advice on career and talent search requirements,please visit www.india.rgf- 26+years of historySpecialised across all industry sectors and job functions 10K+placements per yearWe find the best talent 18 offices in AsiaTo support your regional recrui

132、tment needsAbout RGFBrands and ServicesRGF Executive SearchFocuses on senior executives to middle management search to fulfil organisational goals,strategic planning development,and overall decision making that affects the entire business organisation.RGF Professional RecruitmentHires managerial and

133、 specialist positions who are essential to the real work of the business dealing with the people,customers,and teams driving the business cross-functionally.They can also be considered developmental candidates for executive senior leadership positions.RGF HR AgentFills a range of managerial,specialist,and staff positions at Japanese companies that require Japanese language skills.Draws on a deep understanding of Japanese companies with a vast database of Japanese-speaking personnel to find the best candidates.36