February 13th, 2018
Salaries and benefits have become the biggest challenge for recruiters as most senior level candidates look for 20-40 percent hike over their current salary, according to a survey conducted by CIEL HR services.
A majority of senior level candidates (62 percent) look for hikes of 20 to 40 percent while considering job change over their current salary, according to the yearly survey on talent market by CIEL.
This reflects their confidence in the future job opportunities in the country, CIEL survey said. The survey found that this thought is percolating down the ranks and has become a significant challenge for recruiters to attract talent. The survey was conducted among 107 executives across industry sectors, levels and cities in India.
Aditya Narayan Mishra, CEO of CIEL HR Services said “With the evolution of technology and access to information skilled talents across levels are more selective about choosing an employer or while considering a change. The employers must adapt to the changing dynamics of sentiments and realign their HR strategies to attract and retain the top talent for their organization.”
The survey also revealed that employer branding continued to be a significant challenge for recruiters as 35 percent of them are concerned about it. It also found that companies have increased the notice period for their employees to make it difficult for people to switch jobs. This has become another important challenge (34 percent) for the recruiters to fill vacant positions.
Meanwhile, when it comes to looking at new job opportunities, salaries and benefits continued to be the most important push factor (26 percent in entry level and 25 percent in mid-level). For senior level, salary and benefits is the second most important push factor, it added. This indicates that salaries and benefits are important factors for talent attraction and retention strategy, it said.
Relationship with managers is another important factor (23 per cent in entry level) for looking for new jobs. Career progression is another factor, especially for people in the entry and mid level, while looking for new roles, the survey added.