Covid-19 has changed the way the world used to operate. The job market has become volatile, just like the stock market. Ins and outs, hire and fire, and uncertainty hovering over continue to upset the smooth functioning.
Priorities of people have changed. Some keep money on the heavier side while some weigh work-life balance. In the last two years– The Great Resignation has become an ineffaceable word in the job market dictionary. The trend of “You Resign, I Resign, We all Resign” still, even after two years of Covid-19, continues to happen in many organizations.
According to a report by recruitment agency Michael Page, 86 percent of employees are contemplating resigning in the next six months.
Their findings hint that 61 percent of employees in India are ready to accept lower salaries or give up pay increases and/or promotions for better work-life balance, overall well-being, and happiness.
“According to our data, not only has it already been taking place for the last two years sparked by the global pandemic, 2022 will only see it intensify,” Michael Page stated in a report titled The Great X.
According to the report, this trend will not vary across markets, industries, degrees of seniority, and age groups.
Also Read: The Great Indian Reshuffle: 82% Of Professionals Planning To Change Their Job In 2022, Says LinkedIn
“With the clear majority saying a significant talent migration event is upon us in the next few months, we must be ready for it to increase,” the report stated.
Since the entry of Covid-19 into our lives and work culture, there has been debates and discussion over organizations’ work arrangements (hybrid, working from home, etc.). The study found out that 11 percent of employees who have resigned or plan to resign are compelled to leave their organizations owing to Covid-related regulations.
According to the report, there can be various reasons why an employee leaves an organization but the following tops the list-
- Career progression
- Change in career role or industry
- unhappy with salary
- unhappy with the strategy or direction of the company.
Notably, the findings of the report suggest that amongst the 12 countries that Michael Page surveyed, the lion’s share of employees mulling over leaving their current jobs was in India, followed by Indonesia, the Philippines, and Malaysia.