Culture of Changing Jobs in Young Generation
by: Hellen
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Word Count: 964
At some point or the other, everybody leaves his/her job. Some leave because they have found a better option and some leave because they just wanted to. And then there are those who keep hopping from time to time. And this time its not the experienced ones who hop, but the young guns who are considered to be the future leaders of the organization.
A recent survey in India threw up some interesting figures regarding the attrition rates in India Inc. The survey focused on the ‘Attrition Problem in growing economy’ and said that the maximum attrition is taking place in the age group of 26 to 30 years.
Vice president of Patni Computers says, “The survey reflects the current scenario as people in this age group have a few years of experience with them and a higher pay packet from prospective employers provokes them to shift.” Country Manager, NXP Semiconductors India Pvt Ltd echoes, “This age group is considered as highly mobile as they are supposed to be at the peak of their careers. Therefore, they want to make the most out of it. At the ages of 22-23, they are fresh out of college, ambitious and high on aspirations; they take the initial years as ‘learning experience’ and want to learn the tricks of the game as soon as possible. Th opportunities are higher, and they are motivated to give their best shots and reach the peak in minimum time frame.”
For the money!
“A few years down the line, employees shift as the clarity towards their career graph in the beginning is nit very high. Because of the sheer number of opportunities in corporate India at present, people no longer look at long term prospects from start. They want the best,” says General Manager, HR, Beckton Dickinson India Private ltd. “People want to grow fast and if they don’t see the steep rise in their current organization, they switch to another company,” he adds.
The immediate gains in salary package were found to be responsible for job change in 61 percent of the cases, explains President, ASSOCHAM. “Employees in this age group get married and are always on the lookout to enhance their monetary status and a job with higher pay package is always welcome,” says HR, Bluestar infotech. High salaries are complemented by the higher positions in the organizations that they hold. People are also looking at skipping posts, as they want to rise to the top fast. So, most of the times, the decision to switch job is taken as a higher post is offered in the new organization. “People at this level move for several reasons better compensation, immediate focus on vertical growth, and peer pressure. At this level, keeping up with peers is important and they may feel that job switching helps them to do that.
The brand attraction.
The image of the company plays an important role as people in India want themselves to be associated with established names. “ The general public identifies the company with its brand name! therefore, people also feels proud when they say that they work for particular company, this brand name also plays a huge part in employees switching over and hopping to get into the organization.
The challenge today are greater and higher energy levels are required to accomplish them. People today take up jobs, give there 100 percent and then look for sheer brand name.
The solution
When asked about the measures taken by companies to tackle the problem of losing out personnel, 73 percent of respondents felt that one of the ways to hold back employees is to chart out an organizational structure which promises career growth for the staff. “We offer educational programs to our employees besides there job so that they enhance their skills. The employee as well as the organization, both gain from this association as the employee stays with us for a longer time and improves his/her qualification and competency benefiting the company in the end.
We have a policy on distance learning for employees to pursue PG in technical or management courses as one of the reasons they leave the organization is for pursuing higher studies. Additionally for employees (with minimum 3yrs experience) who wish to pursue a full time course, we offer them a sabbatical leave. The company has an option of working from home, which helps staff to maintain better work life balance. Companies should have progressive employee engagement practices and policies. They should be able to keep the employees motivated and must be able to cater to their aspirations. If the companies manage to achieve these parameters, then the attrition rate will come down, as the employees will feel satisfied working with the organization.
The right choice?
If the attrition rates in the given age group are so high, then why do companies still hire them? “ The energy the young engineers bring in is very infectious. They are very productive, and if organization keeps them engaged, they tend to stay longer. We have engineers who joined us from the campus and today they head businesses. When we hire fresh out of college employees, we are always prepared to lose them in two to three years time but there is no choice but to hire them as there is immense scarcity of talent. Also hiring is done at all levels, as organization requires people at all levels. If we do not hire the employees in the given age group, then there will be a missing link in the hierarchy of the organization.
The outlined message is loud and clear! Companies can’t do without young blood and therefore provides a host of features to attract the talent to stay with them for a long time. From faster career prospects to greater remuneration, everything is on the cards, just grab the opportunity.
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