Once the dream workplaces of software engineers, companies such as Infosys, Wipro, TCS, HCL Tech and Tech Mahindra do not feature in the top 10 list for job-seekers.
According to a survey by LinkedIn, new-age companies such as Directi, Flipkart, Paytm and Oyo are favoured by job-seekers in India. LinkedIn has collated this data from a cross-section of industries, jobs and skills that people have searched for on its platform.
Apart from the new-age companies, multinationals such as Amazon, Microsoft, Google, Anheuser-Busch InBev, KPMG and Ernst & Young complete the top 10 list. Interestingly, not a single Indian software exporter, which was instrumental in building the $167-billion IT industry figures in the top 10.
Industry watchers cite a lack of career growth opportunities, inability to work on projects involving the latest technologies and a regressive corporate culture as reasons that are putting off many job-seekers.
Mohan Lakhamraju, Founder and CEO, Great Learning, said this trend is a reflection of the roles that professionals prefer. While big IT companies have plenty of openings, they still have only a small percentage (of the total jobs) involved in cutting-edge tech, he said. Currently, the top 3 together employ around 8 lakh.
“For technologies like Java, or roles like application maintenance or software testing, people prefer to go to software exporters. On the other hand, for roles such as Data Scientists or Artificial Intelligence (AI), they flock to new-age companies,” said Amandeep Kaur, Founder, Phoenix TalentX Branding, an employer branding company. Others share Peter Drucker’s saying that culture eats strategy for breakfast.
According to Neha Bagaria, Founder and CEO, JobsForHer, an online portal that connects women looking to restart their careers, “Culture matters a lot, and these companies, given their size, have a hierarchy, and people get pigeon-holed in a job role.”
Additionally, new-age companies pay salaries that are at par with software exporters. Typically, entry-level employees get ₹15,000-20,000 per month. “Many a time, start-ups match these salaries and offer additional incentives such as stock options so they can have skin in the game,” added Bagaria.
This also reflects a change in the psyche of job-seekers: in the past, they were more fixated on a brand name, in addition to pressures from the family to work in a ‘stable’ company. Job-seekers are more open to failures, and the stigma associated with failures is fading away, said Kaur.
Some in the industry believe that there will be a mix of new age companies and mature organizations on a job seeker’s radar. While culture, work-life balance, social consciousness are some factors that have moved up the priority list, especially for the younger generation - brand and growth opportunities still remain high on the list for many, said Arjun Pratap, Founder and CEO, EdGE Networks.