India is expected to lead the region in turnover rates at 26.9 percent (in the organized sector) in 2013, the highest attrition rate globally; this figure is expected to go up further in 2014 to stand at 27.5 percent.

"Make no mistake, we are (India) in the eye of an employee turnover storm. In order to protect employee retention, organizations in India must give serious thought to what drives employee commitment," Hay Group India Leadership and Talent practice leader Mohinish Sinha said.

"Indian economic growth is set to pick up, and this will be warmly welcomed by businesses. But the upturn will come with a risk - driven by an ambitious middle class – and employers at India Inc are likely to face a talent exodus in the coming year," Sinha added.

Indian employees expressed concerns about the fairness of their compensation (55 percent) and the extent to which benefits meet their needs (48 percent).

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