63% Of Tech Workers Identify Gender Pay Gap As A Concern: Report

The survey emphasised the crucial role of other factors in inspiring and retaining top talent in India's tech industry, in addition to structured compensation packages that provide stability

80 per cent of India’s top tech talent are seeking enhancements in their compensation and benefits packages, according to a survey conducted by ANSR and Talent500, released on Friday. Apart from competitive salaries, personalised benefits, a strong emphasis on well-being, and clear career advancement opportunities have emerged as critical factors influencing employee satisfaction and retention. The importance of flexibility and well-being is underscored, with top employers distinguishing themselves through hybrid work options and robust mental health support.

The survey emphasised the crucial role of other factors in inspiring and retaining top talent in India's tech industry, in addition to structured compensation packages that provide stability.

The report emphasises customisable benefits and underscores a notable change in priorities among tech talent. 61 per cent of respondents stress the significance of personalised health benefits programs. 77 per cent of tech professionals prioritise hybrid work arrangements, prompting companies to tailor benefits packages accordingly.

Addressing compensation inequities, over 60 per cent of employees feel unfairly compensated, citing substantial pay disparities that underscore an urgent need for action. The report reveals that 65 per cent of respondents perceive a significant gender-based pay gap, with 56 per cent noting disparities of at least 25 per cent across different roles. Additionally, 70 per cent emphasise the critical role of Restricted Stock Units (RSUs) in fostering long-term commitment through equity-based incentives.

According to the report, over 90 per cent of respondents view career pathing and L&D initiatives as indispensable factors when assessing potential employers. Moreover, 81 per cent of employees express a preference for mentorship programs and stretch roles, indicating a strong interest in career advancement and leadership opportunities.

While over 60 per cent of GCC employees express satisfaction with their current salary and benefits, about 67 per cent indicate a desire for long-term commitment through RSUs or company share ownership. Around 62 per cent of employees find that L&D initiatives effectively align with their career goals, showcasing GCCs' commitment to talent development and career advancement. While this is a positive indicator, acknowledging the 40 per cent of employees who may not feel as aligned suggests there is still room for improvement. This emphasis is vital for GCCs as they strive to cultivate a future-ready workforce.

"In today's dynamic talent market, flexibility has become a cornerstone of employee satisfaction and organisational success," noted Vikram Ahuja, Co-Founder of ANSR and CEO of Talent500. 

"It's about crafting a holistic employee experience – one that cultivates purpose, growth, and well-being – not just ticking boxes. Our report sheds light on this crucial shift, emphasising the need for tailored benefits programs to attract and retain the top talent who demand more than a cookie-cutter approach,” added Ahuja.