Workplace Benefits Critical to Retention: Report

Harappa, part of upGrad and a learner-centred institution has released the latest 'The Grand Manager and Workplace Report.' The second important tranche of its ‘The Grand Report’ series is a comprehensive study that focuses on the aspirations, burdens, and challenges faced by managers in India.

The report draws insights from over 3800 professionals (including early and seasoned managers) in India Inc, highlighting the ongoing scenarios that impact managers in the workplace. The key findings include:

• A significant number of managers are dissatisfied and actively seeking to leave their current positions, with approximately 33% planning to do so within 6 months and 59% within the year.
• The main factors contributing to this frustration are career stagnation (73%), lack of recognition (71%), and feeling overworked (68%). These three issues combined, create a challenging situation that leads managers to seek new opportunities.
• 81% of managers look at monetary incentives as a key to staying motivated. Just a bit more than half, at 57% also seek autonomy to make decisions at the workplace and 52% would like public recognition for the work they do.
• Early managers feel frustrated about earning trust (86%), while individual contributors feel underappreciated (79%) by their managers. Experienced managers also struggle to achieve desired outcomes (66%).

“This report is an eye-opener in many ways. On one hand, it shines a spotlight on the enduring tumultuousness of the managerial journey, revealing how even as professionals become seasoned, they continue to navigate its challenging terrain, the other half demonstrates the callous disregard for remarkable individuals who hold the key to our future leadership. Despite the primacy of this role, and the aspirational career milestone that becoming a manager is, it’s also the toughest job in the world to be responsible for the growth, motivation and performance of others. I’ve personally felt we do a great injustice to managers and teams when we don’t extend an empathetic ear to truly understand why the manager has become the biggest villain of the modern workplace,” said Shreyasi Singh, Founder & CEO, Harappa.

Earlier this year, Harappa unveiled The Grand Women & Workplace Report which showcased insights into working women’s ambitions, career interferences and professional realities.

“I see this as a clarion call, urging corporates to prioritise their workforce over business metrics. There’s a reskilling revolution upon us and unless companies value the importance of L&D and adapt to a non-linear mind-set, building a resilient business looks uncertain. Companies don't need to go out and augment people and train; they'd rather need to retain existing talent and prepare a 'superforce' that understands modern-day work intricacies and drives business impact,” concluded Ronnie Screwvala, Co-founder & Chairperson, upGrad.