58% of Indian employees suffering from high burnout rates: Survey
A recent study has revealed that at least 58% of Indian employees are experiencing high burnout rates. The findings were part of a report titled 'India's HR Revolution: Building Workplaces for the Future,' presented at the FICCI Innovation Summit 2024. The research was jointly conducted by the Federation of Indian Chambers of Commerce & Industry (FICCI) and Boston Consulting Group (BCG).
Low employee engagement levels reported by Indian CXOs
The study also found that only 23% of Indian CXOs (Chief Experience Officers) reported high levels of employee engagement within their organizations. This indicates a potential disconnect between management and staff, possibly contributing to the high burnout rates among employees. The report further highlighted that companies are now prioritizing comprehensive programs to support employee well-being, with 79% offering professional development opportunities and 60% providing mental health support.
ESG initiatives and DEI practices gaining traction
The report underscored that 85% of Indian CXOs believe Environmental, Social, and Governance (ESG) initiatives are crucial in shaping HR strategies and aligning organizational culture with societal goals. Additionally, the study highlighted a growing recognition of the business value brought by diversity, equity, and inclusion (DEI) initiatives. Around 67% of CXOs agreed that diverse teams enhance overall performance and employee engagement.
Indian firms setting diversity targets, prioritizing environmental responsibility
The report revealed that 52% of organizations have set diversity targets across all levels, indicating a shift toward more inclusive workplaces. Additionally, about 66% of respondents agreed that environmental responsibility has gained significant importance over the past one to two years. These findings suggest a growing commitment among Indian companies to align their operations with global and national ESG reporting standards.
AI integration in HR functions boosts efficiency
The report also highlighted the increasing integration of generative AI in HR functions, with 45% of Indian companies having implemented or piloting GenAI in their HR processes. A significant 93% reported improved process efficiency and productivity as one of the key benefits. This trend suggests a shift toward 'bionic organizations' that combine human creativity with technological precision.
