Infosys runs a programme called Skill Tags which covers sizeable talent and provides them scope to learn any one of the 36 new skills in the digital business. It enables employees to enter new areas such as domain and techno-functional consulting, specialist programming, technical architecture and design. “We have a comprehensive plan to transform our talent. We focus on holistic value proposition that includes individual learning, financial as well as non-financial rewards and deep emotional connect with the company,” says Richard Lobo, executive vice president and head of HR, Infosys.

Wipro, on its part, is equipping fresh hires with newer digital skills under a programme called Velocity. The idea is to make candidates “client-ready” as early as possible in their careers, says Govil.

The trend is not limited to IT. Even new-age digital, analytics and some legacy firms are focusing on employee learning and growth. Axis Bank-owned digital financial services player Freecharge provides learning on online platforms such as Coursera. It also helps top talent join courses from top Indian universities. AI and analytics firm Fractal has a talent mobility policy which allows employees to apply for internal openings. “People often leave due to lack of growth or work they want to do. We have given employees a lot of freedom and choice. We believe they should be CEOs of their own careers,” says chief people officer Rohini Singh.

Similarly, EV start-up MoEVing has implemented a learning hour. Nestle India has The Henri Nestle scholarship that allows employees to learn whatever they want. It has introduced a nine-month blended learning course, Ascent, to support transition to first-time people manager roles. Besides, it has launched NesVidya, a micro-learning performance solution app, to help employees learn new concepts and evaluate their progress.

“Employees are looking for enhanced visibility of career growth. They will stick to a company that charts a clear growth path for them, including continuous learning and skill-building, as they rise through the ranks,” says Divyesh Sindhwaad, AVP, sales, Skillsoft India.

ESOP Carrot

Employee stock ownership plans (ESOPs) are also emerging as a tactical tool to attract talent. Meesho has an annual MeeSOP programme that allows every full-time employee to take up to 33% annual CTC as ESOPs. Kunal Shah-led Cred launched an accelerated wealth programme last year that allows team members to take up to 50% annual cash compensation as special grant ESOPs. Khatabook, too, offers ESOPs. “Equity buyback programmes are a good motivator as they make them part of the company’s journey and success,” says CEO & co-founder Ravish Naresh.

Industry experts say a large number of employees are considering jobs in start-ups. ESOPs are one of the major attractions. “An IT professional with five-six years experience and good performance record can easily bag a mid to senior management role in a young e-commerce firm,” says TeamLease’s Balasubramanian.

Progressive, Open Work Culture

“If you want to go fast, go alone, if you want to go far, go together.” The gen-next takes this African proverb seriously and looks at a company’s mission statement, work environment, corporate policies and people culture before signing up. That’s why employers are implementing progressive strategies. Due to collective trauma of the pandemic, there is a shift in expectations of workers, who now expect a more empathetic workplace. Prospective employees are evaluating businesses based on flexibility offered and their broader values and contributions, says Sushant Dwivedy, managing director at global talent management firm SHL (India and Philippines). “Only leaders and companies meeting these expectations can win the war for talent,” he says.

Ashish Kumar Singh, CHRO at Meesho, believes policies that are forward looking, inclusive and industry leading will set the precedent. “People prefer employers who offer flexibility in choosing work location,” says Singh. Meesho has adopted a boundary-less workplace model. It also offers 30-week gender-neutral parental leave and gender reassignment leave (for gender reassignment surgeries).

That’s not all. Razorpay has overhauled its insurance policy to cover same-gender and live-in partners. “This resonates with the new generation,” says Chitbhanu Nagri, senior vice-president, people operations, Razorpay. Employers are also emphasising transparency in communication. Nagri says they hold sessions to apprise them of the company’s performance. “This makes it easier for people to see the impact of their work,” says Nagri. During interviews, candidates often show interest in knowing how far serving employees have been able to grow. Roma Bindroo, CHRO at Zepto, says employees know what they want. Start-ups are attracting talent that is raring to see limits of how far it can go and is ready to take risks, says Bindroo. “We conduct town halls, founder meets, leader connects and ask-me-anything sessions,” says Bindroo. The start-up has decided to move to five-day work week from May 15 based on employee feedback. “For the same pay, if they get a role that allows them to create more value and impact, satisfies them through growth, it trumps over comfort,” says Bindroo.

And building a culture where employees can learn, thrive and grow, where they are appreciated and valued, helps. Priya M. Pillai, head HR, corporate and retail at Titan, says, “We have received calls from employees who have left us asking if they can join back. When I held exit conversations with some employees during last one year, they told me they might come back,” says Priya. She says this is a manifestation of the firm’s culture of openness. “Our culture, where employees get easy access to leadership, our work environment that nurtures employee talent and widens their horizon, is what they like,” says Priya. New generation is looking for a space for its ideas to come alive. The company’s premium ethnic apparel business, Taneira, was a product of crowd-sourcing ideas within the organisation.

Diversity & Inclusion

Diversity and inclusion are other areas where employers are sharpening focus. Axis AMC has adopted a diversity, equity and inclusion (DE&I) policy under which it ensures women-specific hiring in sales to counter the notion that they are unsuitable for field roles. The company has also created vacancies for homemakers.

“We are looking at hiring women who have never stepped in the professional world. And homemakers could be from all genders,” says Meghna Gupta, head, Human Resources. “New generation employees want fair treatment not just for themselves but for everyone around them. So, DE&I should feature in EVP (employee value proposition),” says Gupta.

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