75% of Indian employees seek new jobs
NEW DELHI, INDIA — Around 75% of the 4,000 surveyed Indian employees are searching for new jobs, with many anticipating moving in the next six months.
According to Michael Page India’s 2023 Talent Trends, 90% who started new jobs within the last year remain receptive to other offers. Only 54% express satisfaction with their jobs, and 56% with their compensation.
“The culture of long-term service to a single company is becoming an obsolete concept,” said Ankit Agarwala, Managing Director of Michael Page India.
The conventional link between job tenure and loyalty is becoming more complex today. Mayank Kumar from UpGrad state that employees “are more aware and informed of their priorities and the opportunities available, and their loyalty is more towards self.”
The pandemic has spurred many to reevaluate their work settings. Santosh Iyer of Mercedes-Benz India believes that loyalty is now gauged by the quality of contribution, not just duration.
With a rising emphasis on outcomes, companies are increasingly welcoming diverse talent, such as remote and gig workers. A Ciel HR report highlights the gig workforce’s growth, marking an increase from 30% to 55% in just a year.
The Michael Page study also highlighted how job hopping has become the norm, and there will be a greater challenge for employers to retain top talent.
