Companies in India are reshaping employee career growth by building a strong career architecture framework that takes into consideration skills, talents, career stages and competencies. This shift signifies a transition from a job-centric career ecosystem, where roles were grouped based on work scope, complexity and contribution, to a skill-centric career ecosystem.
Designing a career ecosystem that fosters employee retention and establishes compensation choices is fundamental for organisational success. As more and more organisations move with the pace of the industry, a crucial question arises: Is your organisation actively aligning its career strategies with these essential goals?
The findings of the 2023 Career Flash Survey in India, reflecting feedback from 55 employers and 222K employees reveal that:
Key drivers and barriers to the success of career ecosystem
In India, absence of a personalised career experience is the most cited barrier, while focusing on strong support and buy-in from key leaders and business stakeholders emerges as the most common success driver.
Further, globally, leaders and managers seem to be underprepared to implement and drive changes.
Leveraging people metrics and financial metrics to measure success
Organisations in India evaluate key objectives such as retention of high-potential and top-performing employees (82%), thus managing to build talent and upskill employees (88%).
Apart from people metrics, 71% of organisations use operational metrics to measure the goal of attracting and acquiring talent and 63% use financial metrics to measure the successful facilitation of pay management, equity and fairness.
Gains using financial and operational metrics
Companies using financial and operational metrics are:
- 1.3x more likely to say a particular team/ department/ business is interested in and or is sponsoring the work (65% vs. 49%).
- 1.2x more likely to say that strong support and leadership buy-in (71% vs. 60%) and readiness of managers and leaders to drive changes (62% vs. 51%) along with clear understanding of employee needs (66% vs. 53%) are success drivers.
- 1.2x – 1.4x more likely to say that career ecosystem has or envisions to have a tangible impact on talent acquisition and sourcing (76% vs. 64%), organisational design and effectiveness (73% vs. 59%), diversity, equity and inclusion (68% vs. 47%) and workforce analytics and planning (64% vs. 48%).
It is time to align your career offerings with future demands. With WTW’s expertise, your organisation can establish a career ecosystem featuring a global job architecture and leveling approach, one that delivers a high-performance career experience for employees.
For in-depth insights and expert recommendations on refining your career strategy and design, access the highlights from the Career Flash Survey India Findings by filling the form on the page.
