Compensation, better roles main reasons for job-hopping

Compensation, job satisfaction and better roles are among the main reasons for employees moving jobs in the engineering, IT, financial services, FMCG and pharmaceuticals sectors, a recent study said.

About 70 per cent of the surveyed employees said that compensation is the reason for changing jobs in the engineering sector. About 15-20 per cent of the candidates switched jobs to get exposure to a new area of work, global workforce solutions firm Kelly Services India's 'Understanding the mind of an employee' report said.

The report throws light on the reasons for employee movements in India in 2013.

In the IT sector, the job satisfaction was one of the primary reasons for switching, whereas for senior employees, monotony in the role was the main factor.

Life science and pharmaceuticals are hiring IT professionals from mainstream IT industry.

"It is vital for leadership teams and Human Resource departments to constantly revive policies for the existing employees. At the same time it is equally important for them to think of various strategies to engage better with them so that the rate of workforce retention increases," Kelly Services India Managing Director Kamal Karanth said.

BFSI continues to lead in hiring IT professionals, as improved technology is important for banking industry.

In the financial services, in the back office space, most of the movement took place for better roles, quality of work and salary hike.

While in the FMCG sector, brand equity reputation of the company was a big reason.

Candidates also look for challenging opportunities where they can use their experience and expertise in setting up new businesses, the report pointed out.

In the Pharmaceutical sector, the major motivator is better and higher position and the benefits associated with it such as compensation hikes, perks, etc.