Monster.com poll
Money doesn’t talk

A recent study by a leading international career site reveals that job security
is no longer considered paramount by job-seekers, and major benefits in a job have taken the backseat to experimentation and more challenging work

By Mukesh Khosla

For today’s generation, the idiom that money makes the world go round has lost its meaning. A recent study conducted by www.monster.com—one of the world’s leading online career networks—almost 32 per cent of the people who apply for a job-change online are looking for new challenges at work and not necessarily more pay.

More than 14,000 people took part in the Monster Meter poll—a series of online polls that gauged user opinions on a variety of topics relating to careers. The survey also revealed that 31 per cent wanted a better work life; only 24 per cent were looking for more pay, while 12 per cent were looking to relocate.

The increased rate of hiring over the past year has led to this unusual phenomenon. Experts say that this optimistic streak should actually have led people to job-hop in search of higher salaries, but the trend seems to be at a stark variance with this prognosis. Stimulation is what people are searching for.

Experts say that most job-seekers look for “happiness” and “satisfaction” —both mathematically unquantifiable—in the work area. Job security is no longer paramount because a plethora of opportunities in the market assures them that. The major perceived benefits in a job have taken a backseat to experimentation and more challenging work.

Monster India’s study also revealed that people prefer working for multinational companies, for a range of reasons that include a professional work culture, growth opportunities, and the hope of a foreign posting. Good salaries were, in fact, at the bottom of the list of wishes. People would rather get more experience than more pay.

“Today, the importance of job security has considerably diminished,” says N C Somaiah, general manager of Hotel Radisson MBD, Noida. “Back in the early 1990s, when I was just starting out, most of my friends were hankering after government jobs.

But, over the years, attitudes have changed dramatically.” Senior executives like Somaiah say that Gen Next is climbing the ladder of success far faster than the previous generation because of that ubiquitous thing called “technology”. Furthermore, the general awareness of career goals is much better articulated to, and by, today’s generation. The opportunities are plentiful and the quality of education, exposure and experience is far higher due to the freer flow of information and knowledge.

Vinay Bishnoi, senior vice-president at Lloyds Grisham Ltd, says, “New-generation executives want to be CEOs latest by [the time they are] 45 [years old] and, thus, prefer a job that helps them in that direction. They look for like-minded colleagues and a job where they have the liberty of taking decisions and space for personal growth.”

Bishnoi, who is in his early 30s, feels that, along with proper career planning, the ability to explore new frontiers is a very useful qualification in an applicant. He is also of the opinion that “job empowerment” is the magic mantra. “Young people are now ready to take risks in order to reach the top faster,” he says. “They are focusing more on career enhancement and less on the pay packet. The name of the game is power, and that, too, in a short span of time. They think nothing of job-hopping if it suits their life goals.”

In fact, many senior executives feel that that it is not just individuals but even companies who look for team players. Many leading multinationals emphasise aspects such as integrity, teamwork and respect for others.

James Mathew, manager, human resources, Delhi’s Hotel Ambassador, says, “Concepts are changing fast in the corporate world. In private companies, job security means that if the person is performing well, then his or her job is secure. But young people who have the right credentials and
the dynamism do not want to stick to a job the way people did earlier. They are looking for decision-making authority and not security at the workplace.”

Experts at Monster.com agree, saying that giving people decision-making powers makes them more responsible, leading to higher productivity, more satisfaction, and—still importantly enough for most companies—less job-hopping, despite the job market boom.

The report says: “Personal and organizational success will come only if employees go beyond their official job description and act like active citizens of the work community. Ambitious work habits, positive attitude and high energy are not just essential for organizational achievement but are also stepping stones for individual fulfilment.”

This explains why today’s executives expect clarity of reward and recognition for their efforts, and a clear growth path, apart from a healthy work environment. Despite their appetite for consumerism, money is not as important as learning.

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