Pet leave: A new perk to retain Gen Z, millennial talent in Indian tech

Tech companies are offering perks such as pet leave, unlimited sick days, and mental health support to attract and retain millennial and Gen Z employees, to enhance their well-being and productivity

India’s technology companies are intensifying efforts to attract and retain millennial and Gen Z talent. These firms are offering a range of perks, from unlimited sick leave to paid time off for bonding with pets or spending quality time with aging grandparents, all designed to keep younger employees engaged and productive.

 

According to the India Technology Industry Compensation Benchmarking Survey 2024 by Deloitte India and Nasscom, many companies are introducing ‘well-being days’ and offering joining bonuses, which are subject to a two-year clawback. The survey, which involved over 200 tech companies across the country, highlights the need for businesses to adjust their strategies to appeal to the newer workforce.

   

“With Gen Z prioritising work-life balance, mental health support, and professional growth, it’s essential for companies to adapt their approaches to effectively attract and retain this emerging talent,” the survey mentions.

 

The initiatives are geared towards preventing ‘employee burnout’ and ensuring a resilient workforce while boosting overall well-being and productivity.

 

In addition to these, companies are focusing on fostering career development by incorporating AI skills, increasing women’s representation, and creating reward systems that resonate with the values of the new generation.

 

Paid time-offs (PTO) 

The companies are giving Innovative paid time-off (PTO) to its employees, which includes:

>Unlimited sick leave: Employees can take as much time off as needed for illness, with no cap on the duration.

>Pet leave: Time off is provided for employees to care for their pets.

>Parental leave for non-biological caregivers: Parental leave is available to non-biological caregivers as well.

>Mental health days: Dedicated days off are provided for employees to prioritize their mental well-being.

 

The survey further states that the companies are focusing on AI tools and are setting up committees to evaluate work practices. These measures include:

>Wellness programmes and fitness memberships: Employees have access to desk exercises, self-care tips, and subsidised gym memberships.

>AI listener tool: A tool designed to gauge employee sentiment and feedback.

>Back benchers initiative: Employees take breaks to support the talent team in developing people-centric policies.

>External review committee: An external committee is tasked with assessing and evaluating the company’s people practices.