Women seek job security, health benefits more than bigger paychecks: Quess Corp
As per a survey by Quess Corp, 63 per cent of women surveyed would choose health benefits and a formal agreement for a job over a higher salary, compared to only 28 per cent of men.
- Mar 7, 2023,
- Updated Mar 7, 2023 1:41 PM IST
A recent study conducted by the business service provider Quess Corp has found that job security, health benefits, and other fringe benefits are more important to women in India's informal economy than a higher salary. The study shows that 63 per cent of women surveyed would choose health benefits and a formal agreement for a job over a higher salary, compared to only 28 per cent of men.
The survey also revealed that 56 per cent of working women prioritise non-monetary aspects such as career-building, community contributions, learning new skills, and supporting their passions and interests. Furthermore, 38 per cent of female informal workers believe that the Covid-19 pandemic has highlighted the importance of job security.
Lohit Bhatia, President of Workforce Management at Quess Corp, commenting on the study's findings, noted that India's informal economy must acknowledge the value and contribution of women while acknowledging that their requirements have evolved.
According to the study, a significant number of women in the workforce believe that they cannot secure a job based on merit alone and need contacts within the company. Over half of the women surveyed, i.e. 53 per cent, believe that they need a friend or a contact inside a company to secure a formal contract. One in every three women, or 33 per cent, from the informal economy believes that a lack of education prevents them from securing a formal job.
Bhatia suggested that investing in skilling and training can improve the employability of women. He said, "India Inc. must invest in training and skill development for better employability of women, helping them find employment opportunities, and offer social security benefits – as opposed to simply salary considerations – to a wider employable population."
The study also revealed that industries such as Media and Entertainment, Auto & Auto Comm, FMCG/FMCD, Ecom/Logistics, and IT/ITES/Education hold the highest share of women in the workforce.
The findings are part of Quess Corp's ongoing study of women working in India's informal economy.
Also Read: India's IT sector: From AI to cloud, evolving tech is pushing the sector forward - BusinessToday
A recent study conducted by the business service provider Quess Corp has found that job security, health benefits, and other fringe benefits are more important to women in India's informal economy than a higher salary. The study shows that 63 per cent of women surveyed would choose health benefits and a formal agreement for a job over a higher salary, compared to only 28 per cent of men.
The survey also revealed that 56 per cent of working women prioritise non-monetary aspects such as career-building, community contributions, learning new skills, and supporting their passions and interests. Furthermore, 38 per cent of female informal workers believe that the Covid-19 pandemic has highlighted the importance of job security.
Lohit Bhatia, President of Workforce Management at Quess Corp, commenting on the study's findings, noted that India's informal economy must acknowledge the value and contribution of women while acknowledging that their requirements have evolved.
According to the study, a significant number of women in the workforce believe that they cannot secure a job based on merit alone and need contacts within the company. Over half of the women surveyed, i.e. 53 per cent, believe that they need a friend or a contact inside a company to secure a formal contract. One in every three women, or 33 per cent, from the informal economy believes that a lack of education prevents them from securing a formal job.
Bhatia suggested that investing in skilling and training can improve the employability of women. He said, "India Inc. must invest in training and skill development for better employability of women, helping them find employment opportunities, and offer social security benefits – as opposed to simply salary considerations – to a wider employable population."
The study also revealed that industries such as Media and Entertainment, Auto & Auto Comm, FMCG/FMCD, Ecom/Logistics, and IT/ITES/Education hold the highest share of women in the workforce.
The findings are part of Quess Corp's ongoing study of women working in India's informal economy.
Also Read: India's IT sector: From AI to cloud, evolving tech is pushing the sector forward - BusinessToday