Hyderabad, Pune most preferred cities for tech talent seeking to migrate: Report
Hyderabad and Pune have emerged as the most preferred cities for settlement for technology professionals on parameters of job opportunities, infrastructure and improved quality of living.
This is part of the report titled Which City Next: 2020 released by Catenon. Catenon is a tech-based multinational company that specialises in data-driven recruitment services.
Hyderabad attracts the most talent in the country, mainly from Bengaluru. The distance between these two cities is the least, hence making relocation an easier task. Further, Hyderabad enjoys better air quality and water ratio than any of the matured markets in India, another reason why it is preferred by senior tech professionals looking for a relatively healthy, urban living, the report states.
The trend clearly indicates that the highest hike rates are in Bengaluru and Delhi. Mumbai offers lucrative hikes as well, followed by Chennai. Even though Pune and Hyderabad are not in top four positions, the hike is steady around 15%.
Pune is the most preferred city for senior tech professionals with parameters like IT infrastructure, lesser traffic congestion and pollution helping it to perform at par with other cities. Big IT companies moving their offices and cheaper cost of living allowed Hyderabad to claim the second spot.
Bengaluru accounts for 26% of the total office space leased in India - led by Technology and IT-BPM sector. Being the IT hub of the nation, tech professionals here command the highest salaries bringing it to number three in preference. The commercial capital of the country might not be a leader in the IT industry, but Chennai does have a share in the market. It offers the best salaries to mid level and senior level professionals after Bengaluru.
64% respondents confirmed that family comfort, adaptability to the city, children’s education, partner’s convenience and parents' ease are key concerns that influence the migratory decision. Many times, professionals seek opportunities in neighbourhoods closer to their hometown/parents or areas that would cause the least discomfort.
Apart from family, people also consider the job profile and salary. At senior management levels, tech professionals look forward to leaving an impression on the organisation, and look for roles that impart knowledge, mentor freshers, etc., hence they mainly seek improved professional stature.
Most relocation decisions revolve around ‘Closeness to Parents’ - tech professionals seek opportunities in cities closer to hometowns to be around parents, and ’Cultural familiarity’ - they are inclined to cities that would allow them to easily sync in with their similar values and culture, the report says.
Hyderabad, Chennai and Pune seem like cost-friendly options for setting a new establishment or expanding offices with effective talent supply and booming infrastructure, the report says.
76% respondents said they are willing to trade a hike in salary for their city of preference.
The report says that the leaders of today seek more out of a job than just great remuneration or role. They want to achieve improved quality of life, work-life balance, and ensuring their life is not limited to the job they do. Hence, the city of work plays an important role in deciding if the job offers are accepted or not.
With the average daily commute time exceeding 60 mins, tech professionals have started negotiating on terms like work from home and flexible work hours for productivity and health reasons, the report says.
Many respondents suggested that work culture is going to change in the next 5 years. Work from home will become the norm in the next 5 years, as it allows increased productivity and work-life balance, rather than spending 2-3 hours in traffic leading to wear and tear of the body.
Despite offering the best salaries after Bengaluru, tech professionals prefer Delhi the least due to pollution and safety concerns, the report states.
Methodology
More than 15,000 tech professionals with more than 10 years of experience, having salary of over Rs 20 lakh and in the age group of 32-50 years, were analysed. The survey conducted 34 in-depth interviews with senior tech professionals across six metros viz. Delhi-NCR, Mumbai, Chennai, Bengaluru, Hyderabad and Pune.