What do your fresh engineers, whom you have selected from engineering campuses, look for? What’s the kind of compensation companies are paying in 2008 to attract talent? What are the factors that will influence them to stay for more than 1 year in your organization?
These are questions that managements of different organizations in India seek answers for. There is a great deal of turmoil in the talent pool. The best of talent have several job offers to choose from. Many don’t hesitate to make the move shortly after joining or worse still say that they will join but don’t show up on the appointed day.
A survey by the Bangalore-based CareerNet Consulting covered 59 companies and 2200 students from over 120 engineering campuses. The survey throws up some interesting findings:
- About 71 % of respondents had offers with compensation of Rs 3-5 lakhs per year.
- MNCs were seen to pay 43 % more than Indian companies
- 56 % felt job satisfaction and recognition were the most influential factors for their staying beyond one year
- 57 % felt the job profile is the main factor in their deciding to accept an offer on campus
- 21 % felt the company brand was the main factor while for 10 % it was compensation alone
The survey results, to my mind, underscores the importance of the job content and work environment that you provide. Are the young engineers given the opportunity to participate, to share and learn on the job? Most learning takes place on the job with the pivotal role being played by the immediate supervisor of the young engineer.
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This is the 167 th of the “A Step A Day” series : To provide perspective and provoke thought to facilitate self-development across a wide spectrum of issues- big and small- crucial for executive success