Survival of the Fittest: upgrading skills and multi-tasking best options during slowdown, finds TeamLease Study

TeamLease releases the 6th survey in “India’s New World of Work” series on ‘Changing Expectations at Workplace’ in wake of the current slowdown

Key Findings of the Survey
? Around 80% employees believe in ‘survival of the fittest’ and hence say that improving skill sets is the best thing to do in the current scenario. Inclination to add value to the organization through added responsibilities and multi-tasking is a preferred style of creating an edge. Others believe in ‘spreading the risk’ and hence feel that venturing into alternate sources for income (52%) or being an entrepreneur (50%) is the best option. Moving to government jobs is the least of the considered options inviting a dismal 30% approval.

? Around 27% of the employees have changed their Financial Planning pattern due to the current economic slowdown. Employees from Mumbai followed closely by Ahmedabad have changed their pattern the most, followed by Kolkata while Pune employees have made the least changes.

? Around 43% employees feel that their company is stable and has taken care of their employees.

? 40% of the respondents felt that the current economic slowdown has had a negative impact on their career. Maximum negative impact was felt in the metros of Mumbai and Delhi. Pune and Kolkata are the least affected.

? Overall, “Looking out for a job irrespective of existing CTC” and “Handling additional responsibility” are the most common changes that people have been compelled to make due to the recession. Though relatively lower, it is still surprising to see that 43% respondents have had to change their role / department to keep their employment safe, while a smaller 24% had to change their sector itself!

? City wise, employees from Hyderabad are least likely to be looking out for a job irrespective of existing CTC, while three in every four respondents in Mumbai and Pune are looking for a change. Hyderabad on the other hand has experienced ‘demotions’ and ‘change in roles’ but not many have changed from their existing sector. Retrenchment is highest in Mumbai followed by Delhi and Ahmedabad, but low in Chennai and Pune.

? Retrenchment relatively higher in Sales, Marketing, Business Development and Operations domains. IT, Finance & HR/Admin provide a supportive function which is an enabler to business, hence the effect felt in these functions is relatively lower.

TeamLease Services, India’s largest staffing company, today released the findings of its latest survey “Changing Expectations at Workplace” in view of the current economic slowdown. This is the sixth survey commissioned by TeamLease in a series to understand India’s new “World of Work”.

According to the study, companies are adding responsibilities on the staff coupled with cuts in the salaries to get maximum value from their employees. HR personnel also observe that while many employees perceive uncertainty and job insecurity, quite a good number of them feel their company is stable.

Additionally, companies are witnessing changes like implementing stringent performance metrics and cutting costs on infrastructure expenditure, reveals the study.

According to Surabhi Mathur-Gandhi, General Manager, Permanent Staffing, TeamLease Services, “This crisis is the first low tide for a younger generation of workers that have only known high tide. The only upside of this tragedy is that expectations are becoming realistic on both sides with unintended positive consequences like multi-skilling, higher productivity and cross-functional exposure.

This reinforces that flexibility and resilience are inevitable concomitants of the “youthification” of India’s workforce.”

The survey respondents included both employees and HR personnel across the cities of Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai and Pune. The employee respondents’ profile ranged between the age group 22–45 years across the departments of sales, marketing, business development, operations, finance, admin/HR and systems (IT).

A structured questionnaire was administered by global research firm Synovate for TeamLease using a mix of telephonic and computer-aided-telephonic-interviewing (CATI) technology to working adults across eight major cities during the period of February 2009 for a total sample size of 402 (350 employees and 52 HR Heads)

About Teamlease’s “World of Work” survey series
Teamlease Services, as a market leader, has played a pivotal role in understanding India Inc from an employee and employer standpoint to bridge the demand-supply gap. The current survey series aims to understand the pulse of young Indian workforce in urban centres. The first of the series looked at ‘Romance at the workplace’ while the second one covered the issues of ‘Two career couples’, followed by ‘Why youth pick and chuck jobs’ and the fourth one being ‘Nothing ethical about ethics’. ‘Gender Differences in Bosses” was the fifth survey in the series.

About TeamLease Services Pvt. Ltd
TeamLease Services is India’s largest Staffing Company having pioneered temporary staffing in India. Currently they have over 74,000 employees on the rolls, presence across 470 locations with 24 offices in India. TeamLease’s biggest visible accomplishment is the speed of scaling (have hired somebody every 5 minutes for the last four years, weekends and nights included). In the permanent recruitment domain, TeamLease Services provides executive search, database selection, advertised selection and turnkey solution, with domain experts to anchor specific industry verticals. TeamLease Services is head quartered in Bangalore.

For more information contact:
Vikas Kamboj / Deepti Iyengar, Adfactors PR Pvt. Limited, Bangalore
Landline: 080 – 4113 3061
Cell (Vikas): + 91 99865 98475
Cell (Deepti): +91 99803 32100
Email: deepti.iyengar@adfactorspr.com
Email : vikas.kamboj@adfactorspr.com

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