Tuesday, November 14, 2006
HR execs fret the ‘I’ factor
13 November 2006 - Times of India
Bangalore: A senior executive in an engineering technology company in Bangalore says he struggled to stifle a laugh the other day when a young potential recruit sitting across the interview table asked if the company would offer him a club membership.
But many are now learning not to laugh at such outrageous demands from such young candidates. For, far too many of them are beginning to make such demands. And with talent becoming scarce, you can’t afford to lose people.
HR experts call it the ‘I’ factor, a trait that’s becoming increasingly visible among new generation professionals. And it’s making mid-and senior-level hiring a challenging proposition.
Over 40% of IT professionals in the 6-to-13 years’ experience category are seen to have a high ‘I’ factor. On an average, the ‘I’ factor accounts for up to 60% of overall attrition in the segment.
In fact, respecting the ‘I’ factor has a direct impact on the retention of employees in this category, says a recent study by Vati Consulting, a Bangalore-based resource process outsourcing firm. In the last six months, the firm interviewed 500 middle and senior management candidates for 12 different tier-1 IT firms. “Unlike in the past, today’s candidates carry a loud ‘I’ factor,’’ says Amitabh Das, CEO, Vati Consulting.
According to the study, senior IT professionals now walk into interviews with a bundle of ‘I’ questions centred around “what’s-in-it-for-me?’’.
It could be remuneration, promotions, career growth, career map, periodic pay hikes, rewards for achievements/targets/goals, opportunities for constant skill and knowledge upgradation, higher studies, overseas assignments, key role in business acquisition, challenging projects, larger roles and responsibilities, insurance cover, flexi-work timing, flexi-pay package and work-life balance.
Bangalore: A senior executive in an engineering technology company in Bangalore says he struggled to stifle a laugh the other day when a young potential recruit sitting across the interview table asked if the company would offer him a club membership.
But many are now learning not to laugh at such outrageous demands from such young candidates. For, far too many of them are beginning to make such demands. And with talent becoming scarce, you can’t afford to lose people.
HR experts call it the ‘I’ factor, a trait that’s becoming increasingly visible among new generation professionals. And it’s making mid-and senior-level hiring a challenging proposition.
Over 40% of IT professionals in the 6-to-13 years’ experience category are seen to have a high ‘I’ factor. On an average, the ‘I’ factor accounts for up to 60% of overall attrition in the segment.
In fact, respecting the ‘I’ factor has a direct impact on the retention of employees in this category, says a recent study by Vati Consulting, a Bangalore-based resource process outsourcing firm. In the last six months, the firm interviewed 500 middle and senior management candidates for 12 different tier-1 IT firms. “Unlike in the past, today’s candidates carry a loud ‘I’ factor,’’ says Amitabh Das, CEO, Vati Consulting.
According to the study, senior IT professionals now walk into interviews with a bundle of ‘I’ questions centred around “what’s-in-it-for-me?’’.
It could be remuneration, promotions, career growth, career map, periodic pay hikes, rewards for achievements/targets/goals, opportunities for constant skill and knowledge upgradation, higher studies, overseas assignments, key role in business acquisition, challenging projects, larger roles and responsibilities, insurance cover, flexi-work timing, flexi-pay package and work-life balance.
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