Sun. Jul 14th, 2024

Majority of entry-level employees look to established companies: CIEL HR report

By Vaseline May30,2024

Working at an established company is easy, but working at an established company counts. A survey by CIEL HR Services shows that a large number of employees in startups are looking to move to established companies. To be very specific, approximately 67% of these employees prefer to move to such companies, where they can enjoy stability and get the benefits of working for both larger and more established companies. The main reason is job security.

About 40% of respondents expressed concerns about job security in new companies. Another 30% cited better wages and financial stability as important factors, as larger companies often offer more reliable financial benefits. About 25% of respondents indicate that startups often struggle to provide a good work-life balance.

The CIEL HR report highlights high turnover in the startup sector. Employees typically only stay in the startups for about two or three years. High employee turnover is a major problem for the startups and they need to focus on retaining talent.

CIEL HR Services Managing Director and CEO Aditya Narayan Mishra highlighted the importance of startups in driving innovation and job creation. At the same time, however, he pointed out that the startups need to improve their employee retention strategies.

Mishra suggested that startups should offer better value propositions such as career opportunities and better work-life balance. This will help in retaining their employees.

However, the future for startups seems promising. The report also shows that 65% of startups have plans to hire more staff in the coming months. This will increase the demand for both experienced professionals and newcomers. Their primary duties include software development, sales and retail sales.

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