Track2Realty Survey: Year after year Track2Realty survey finds that the morale of work force is pretty poor in Indian real estate. However, Track2Realty this time finds that the unhappy voices are getting louder, with employees even calling it deceptive employment and do not mind sharing the inside info and bad work culture of their respective companies.
Employees are the backbone of any given business. They are the reasons why your business is successful or not. The productivity of an enterprise is directly proportional to the happiness index of its manpower. But what would you call a business where the vast universe of the workforce is pretty disillusioned and the business is yet not ready to address it? Welcome to the work culture of Indian real estate!
No less than nearly eight out of ten employees in the Indian real estate, as many as 78%, are ready to quit anytime soon if they get an opportunity. A vast majority of these professionals, 72% to be precise, won’t mind even changing the career path to get out of what they call is a deceptive employment.
Employees so much despise their organization and its work culture nowadays that most of them, as many as 88%, are open to leak the inside information for a price. 80% of the employees even don’t find anything moralistic about it when they question why to be an honest employee of a dishonest employer.
These are the findings of pan-India survey by Track2Realty. The survey was part of our yearly study to find out Top 10 employers in the sector, and the improving or deteriorating job environment in the business of real estate. The survey finds, amidst the low morale of the employees in the business, that more and more employees are getting vocal against the sector in general and their own employers in particular.
Track2Realty conducted this survey in ten major real estate markets – Delhi, Gurgaon, Noida, Mumbai, Pune Kolkata, Bangalore, Chennai, Ahmedabad and Coimbatore.
A structured questionnaire that was based on the five key indicators of job satisfaction, job culture, future outlook, work-life balance and job ethics was given to respondents who were mostly between 25-45 years of age with at least 5 years of professional experience. To make the respondents representative of the sector at large, employees/ex employees of ten top real estate companies in each city were also interviewed.
78% real estate workforce is ready to quit job anytime due to dissatisfaction
72% real estate employees are even ready to change career path
88% real estate professionals won’t mind to leak company info
80% of those who are ready to leak info don’t find it immoral
80% real estate workforce ready to go vocal against the employers after quitting
Arbitrary performance evaluation is resented by as many as 68% professionals
The survey tried to figure out whether the employees would be vocal against their employers, once they leave the jobs. It is interesting to note that no less than 80% of the employees are ready to expose their employers but it is only the lack of opportunities in the market that is a deterrent.
“Economics can teach you about gainful employment; economics can also teach you about ungainful employment; but what real estate can teach you is deceptive employment. These developers know the art of making life difficult and yet ways & means to retain the talent through deception,” points out Rajeev Kochar (name changed on request), sales head with one of the leading developers in Delhi-NCR.
But isn’t it unethical on part of the employees to crib against poor job culture, continue with the same job, and yet leaking the information to damage the employers? “Not really,” says the ex Marketing & Communication Head of a leading Mumbai-based developer. “Honesty is a two-way street. I was forced to quit in a hostile working environment and the builder forfeited my pending compensation. It is only when I sent them a strong legal notice and threatened to expose in the media that I could get my due payment.”
No transparency in performance bonus is what is despised the most by 68% of the employees. They question the performance evaluation methodology in the companies.
“If promoter’s wish is the only performance evaluation metrics and my tangible numbers are ignored then I don’t think there is anything immoral to pass on the sales lead to the broker friends and get paid by them,” points out a real estate employee in Ahmedabad.
Next: Real estate is employers’ market