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91% of Indian CEOs want to link rewards and promotions to office attendance: KPMG | Company news

2 minutes read Last updated: Oct 03, 2024 | 9:14 p.m IS

A new survey by consulting firm KPMG India released on Thursday found that Indian chief executives (CEOs) are taking decisive steps to bring their employees back to offices.

It says that up to 91 percent of Indian CEOs are “considering incentivizing attendance in office by linking it to rewards, raises or promotions.” This is slightly above the global average of 87 percent.

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These findings were published in the KPMG 2024 India CEO Outlook, based on responses from 125 Indian CEOs. All respondents' companies had annual sales of over $500 million.

“78 percent of CEOs in India expect the 'full workforce to return to office', underscoring the importance of face-to-face interaction in work culture,” the survey said.

Talking about the impact of generative AI on skills development, the survey also revealed that 50 percent of CEOs in India equally emphasize the importance of developing workforce skills and capabilities alongside technological investments.

Additionally, CEOs in India are confident in the benefits of generative AI but are concerned about the pace of regulatory progress.

According to the survey, 71 percent of CEOs in India, compared to 76 percent of CEOs globally, said they have a “solid understanding” of how generative AI can improve their company's performance and secure a competitive advantage.

“At the same time, they are also concerned about the pace of progress in regulating generative AI. 77 percent of CEOs in India, as opposed to 69 percent globally, agree with this view,” it said.

“While the tool [AI] itself has the potential to rapidly evolve and learn on its own, the need for humans to remain at the heart of AI advances will be the sticking point. “An ethical approach to using the tool that protects against all vulnerabilities will be extremely important,” said Akhilesh Tuteja, partner and head, clients and markets, KPMG in India.

First published: Oct 03, 2024 | 9:14 p.m IS

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