56 per cent of the respondents are considering leaving their current job to start their own business.
A majority of the Indian workforce wants to be an entrepreneur at some point of time in their career. According to a survey by Randstand Workmonitor, 83 per cent vouch for this with 81 per cent men and 85 per cent women in support. Globally, 53 per cent of the respondents feel the same way.
It is interesting to find that the entrepreneurial ambition among the Indian workforce is highest with 56 per cent of the respondents considering leaving their current jobs to start their own businesses.
The point to note is that 72 per cent of the respondents in the age group of 25–34 years are most ambitious about starting their own business, but only 37 per cent from the age group 45–54 years want to do so.
While there is always a fear of being rendered jobless, when asked what they would do if they actually lost their jobs, 67 per cent said that they would start their own company. It was found that although 76 per cent of the respondents vouch for entrepreneurship, they feel that the risk of failure in their entrepreneurial journey would be too big for them.
86 per cent of the respondents feel that India has a favourable startup ecosystem and 84 per cent indicate that the Indian Government supports and provides a conducive environment for new startups. At the same time, 80 per cent of the respondents believe that small businesses are finding it hard to survive due to globalisation.
The survey also looked at where the employees prefer to work—SMEs, MNCs or startups? It discovered that 84 per cent of the respondents prefer to work for an MNC, with 85 per cent of men and 82 per cent of women admitting a similar preference. At the global level, 55 per cent of the respondents preferred MNCs. 76 per cent of the Indian workforce indicated their preference for startups, while 69 per cent were inclined towards SMEs.
Industry and organisations must have a concrete visible mechanisms to promote self-renewal and intrapreneurship,
And have a total rewards system to appreciate widely and instantly to sustain and retain this spirit of intrapreneurship including giving ESOPs.
Right to work, right to knowledge and right to experimentation-intrapreneurship, and making it a factor of talent selection, rather than merely promote employee bureaucracy running to the boss at a call offering clarifications the whole day, rather than able to and allowed to work creatively and voluntarily, and trying to be in the good books of the boss and earn one’s increment or promotion, the underlying presumption, while we greatly talk of employee engagement, as if it will happen by merely reading and talking about it.
Let KAIZEN, QUALITY CIRCLES, JURAN PROJECT GROUPS work creatively and independently with autonomy and budgets of time and finances, equipment and manpower. One organisation Juran Groups of HODs are formed painstakingly but were rendered painfully dysfunctional non-starters and sabotaged by the self-serving top management itself, through inter-personal competitive rivalry and lack of corporate consensus usually found sadly so.
Let Top Management Teams lead with example coming up collectively atleast with 3 innovative workable proposals every 3 months, the whole organisation working half day each week on innovation/quantum improvement proposals without disturbance on the silent hours concept, or utilising this time for making innovation presentations and the discussions, and the ROI thereof.
Kaizen etc are not merely charitable measures to be pushed to the front-line announcing some small financial rewards, good though, while need to start at the top with investments of time and money leading by example, while factoring front-line opinions finally before giving a final shape and the implementation or experimentation thereof, sabka saath sabka vikaas.
Let innovative spirit be compulsive organisational structured culture and not merely wishful thinking and unproductive conceptual consumption.
Let the employee intrapreneurial potential be tapped for talent development and talent retention enhancing ROI and revenues and profitability creating vibrant organisations, apart from vibrant gujarat, to mention as an exemplary concept to emulate productively.
best regards!
kshantaram
hr consultant and leadership coach, india