82% Indians Plan To Switch Jobs In Coming Year
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Indians have grown more aware of their own market value and a new wave of better career opportunities is being welcomed by a job market which is very promising. This was revealed by a Michael Page India’s Employee Intentions report, which has also claimed that 82 per cent of the respondents are likely to change to role their roles in the coming 12 months.
Sebastien Hampartzoumian, senior MD, Micheal Page India says, “India’s talent pool has very high potential indeed. The market is currently at its prime and businesses would do well to have their ears to the ground while formulating their retention strategies in order to avoid losing their star performers.”
There is a growing rate of erosion, and this then leads to greater expectations, with the most commonly expect increase upon changing roles at 26 per cent or above (for 34 per cent of survey respondents). However, the most alarming development that has surfaced over the past 12 months is that 73 per cent of survey respondents have admitted attending an interview during this time interval.
The fact remains that Indians are working long hours, with 34 per cent of employees noting that they work more than 51 hours each week. Indian organisations are lagging behind when it comes to driving their diversity agenda with 42 per cent of survey respondents indicating that they were unaware of their company’s diversity policies. Reassuringly, there is very little disparity between males and females who received a promotion (50% of males and 46 per cent of females) in the last year.
The global market is on a upward journey, and Indians are now exposed to better opportunities abroad, and it is thus not surprising that for almost two-thirds of the respondents (65 per cent), career progression is the primary factor for moving to another organisation, much ahead of the company brand and reputation for which only 45 per cent of the respondents care. This has led to a significant majority (76 per cent) of survey respondents indicating that they would definitely scout for overseas employment within the next 12 months, hence the majority of the respondents have no qualms in relocating overseas.
Indians are more into online job searches, and while 91 per cent of survey respondents favoured recruitment consultants, around 78 per cent continue to utilise their professional network for job referrals. . LinkedIn is still the most popular website for a job search (82 per cent), closely followed by Naukri (79 per cent), emphasizing the need for companies to build strong goodwill amongst today’s netizens.
Seventy per cent of employees intend to ask for a promotion within the next 12 months, while only 46 per cent of employees expect to receive one. The survey found that employees seem to be quite positive about their future in their chosen industries with Human Resources showcasing the greatest confidence levels (31 per cent), describing current job opportunities in the sector to be excellent. The future will lie in hands of employers who will need to orchestrate their recruitment methods in order to ensure that the best talent is retained.