Yellojobs.com has conducted an online survey covering thousands of jobseekers in India to understand the real reasons behind why people quit. Yellojobs.com is a joint venture between Singapore-based online advertising company Yello Pvt. Ltd, and London-headquartered recruitment company Contact Recruitment Ltd, which has a strong presence in India.
Yellojobs.com is based on a subscription model, whereby instead of advertising for job opportunities, companies need to subscribe to the site. A referral fee of Rs 5,000 is then paid by the subscriber company to anyone who refers a candidate for the job, upon the completion of the latter’s probation period. This model is unlike other job portals where companies have to pay initially for the advertisements on job portals, irrespective of results.
Yellojobs.com also provide unique facilities for jobseekers like application history, referral history, photo resumes, networking tools, recommendation tools, careerblogs, boot camp and more.
Commenting on the online survey, Vikramjit Singh Sahaye, Country Manager, Yellojobs.com Pvt. Ltd, said, “Employee retention activities are increasingly gaining centre stage as compared to fresh recruitments. Retaining talent not just makes commercial sense, but also helps improve project efficiencies and build a desirable brand value for the future. Compensating employees for referring good candidates is also becoming exceedingly rewarding both for referrers and employers.”
The survey highlights that about 70 per cent of top companies face attrition. The highest amount of attrition is faced by the IT and BPO sector, and this was determined through a poll conducted among human resource managers in top IT and BPO companies.
According to the survey, which was conducted among professionals irrespective of the career span, monetary gains are not the only reason for people changing jobs. Forty two per cent employees stated that they changed jobs due to non co-operating and bad superiors, 34 per cent said that they had left their previous job as the organisation could not provide any further growth and remuneration; while uninteresting job profile, office politics and work environment were the other reasons cited for changing jobs.
Among those who participated in the online survey, 60 per cent claimed to have switched their jobs in the past. While 10 per cent of the respondents claimed to have switched jobs more than four times, there were still 44 per cent employees who had not yet switched their jobs.
In a bid to attract good resource pool, Yellojobs.com has also announced YelloReward, where one could earn a reward of Rs 60 crore for referring jobs to friends from the site. Each job is attached with a cost that has been put by companies, and one could earn those cost points by referring the jobs to others. Yellojobs.com has posted over 65,466 available positions in leading companies like Aricent, Avaya, Accenture, Blue Star, Bajaj, Britannia, Convergys, CSC, Crompton Greaves, Cadence, Fortis, Global Vantage, Genpact, HCL, Hewitt, Jindal, JCB, MaFoi, NDTV, Nestle, Oracle, Neilson, Vatika, Webex, Wipro and others, all of which have subscribed to Yellojobs.com.
Sahaye added, “Companies are willing to pay a premium for getting good candidates. Yellojobs.com allows companies to place their job openings for free, and in return offer an incentive, called YelloReward, to those who recommend others. Yellojobs.com now offers over Rs 60 crore as YelloReward, which people can get by recommending their friends for jobs.”