Business Business. Tech giant Microsoft has regained the top spot in the list of best employers to work for in India in 2024, according to the Randstad Employer Brand Research Report 2024 released on Wednesday. It topped the list in 2022 but slipped to fifth in 2023. In the 2024 list based on responses from 3,507 people, Microsoft is followed by Tata Consultancy Services and Amazon. The list was prepared based on ten parameters for evaluating employers. These included work-life balance, career progression, reputation, financial health and job security, among other factors. Microsoft scored the highest in financial health, good reputation and career progression opportunities, which are the top three employee value proposition (EVP) drivers, helping it secure the first position. TCS also improved its performance, moving up from fourth in 2023 to second this year. Amazon slipped one spot this year. Tata Power Company, which was the top brand last year, slipped to fourth place this year. Another brand called Tata Motors ranked fifth. The top five most attractive companies to work for received high ratings for their financial health and good reputation. For Tata Motors, another important factor that played a role in increasing its appeal was the attractiveness of the auto and auto-component industry. This year, it was rated the top sector in terms of attractiveness to work for.
This was followed by IT, communications, telecom and ITES, and FMCG, durable goods, retail and e-commerce. The report also said that work-life balance remains a top priority for workers and is increasing in importance over time. It said, “While pay and benefits are particularly important for the baby boomer generation and individuals with higher education levels, even within these groups, non-material benefits such as equity and work-life balance hold notable importance.” Moreover, the desire to change jobs remains high, with 43 per cent of participants saying they would do so in the coming six months. According to 51 per cent of respondents, the top reason for leaving an employer is “to improve my work-life balance”. This was followed by limited career paths by 38 per cent and low pay by 34 per cent. The report also said that artificial intelligence (AI) is on the rise in the Indian workplace, with one in two employees claiming to already use it daily. Moreover, 88 per cent of respondents said AI will impact their jobs in the next five years. “Competition for niche talent is expected to continue in the future as the pool is still scarce,” said Vishwanath PS, managing director and chief executive officer, Randstad India. “By aligning employee value proposition with workforce preferences, employers will be better positioned to remain competitive in a tight labour market,” he added.
