A wisdomjobs.com Study Finds Financial Security as the Biggest Concern Amongst Professionals

According to a survey conducted by wisdomjobs.com, the biggest concern and motivator amongst employees is the financial security.

A recent study carried out by wisdomjobs.com across companies’ shows that financial security is the biggest motivator as well as concern for the majority of the employees. In fact, 65 percent of the surveyed employees said that the financial security of their families is their greatest worry in case of their premature death. However, 58 percent of workers expressed their concerns about whether they’ll be able to save enough money to live comfortably post-retirement or not. The concern regarding financial security seems very genuine as everyone needs to be financially secured, for the sake of his or her families and dependents. 

These findings of the survey support the trend that nearly 80 percent of new joiners see life insurance as a key benefit. On the flip side, the study found that only 30 percent of the Indian companies offer such benefits to their employees. This has become a cause of concern for enterprises, and about 70 percent of firms have started feeling the pressure of retaining their employees, and over 40 percent of them accepting that they are updating their HR policies to address this fact. Due to this issue, companies have already expressed concern regarding the shortage of talent that can adversely affect their business. 

“Employees are the strength of any business and to retain skilled personnel it has become mandatory for the companies to review continuously and revise their HR policy. Otherwise, companies may have to suffer from the shortage of workforce that may result in a steep decline in their progress,” said by one of the board members of Wisdomjobs.com.

According to the study, the sectoral analysis shows the prevalence of concerns regarding financial security, with IT sector securing the first place at over 75 percent, followed by the Banking and Finance sector at 63 percent, Infrastructure and Healthcare sectors round up the findings with a 58 percent and 52 percent results respectively.  

About Wisdomjobs.com
Making hiring simplified for recruiters and job seekers with full dedication, wisdomjobs.com has gained immense recognition and admiration by the recruiters and job seekers. This inspires their team to come up with such surveys and studies to highlight the information regarding latest market trends, issues, announcements to keep their followers up-to-date. Wisdomjobs.com is an online job portal that has been designed and developed to simplify the hiring process. 

Contact Information 
Wisdom IT services India Pvt. Ltd.
Address: Plot No. 305, 2nd Floor, Ayyappa Society
Madhapur, Hyderabad, 500081, India.
Phone Number: +91 40 66282222
Toll-Free: 1800 420 2222