Great Resignation to intensify in FY23 as attrition of seniors likely to outpace juniors
A significant 61% of employees in India are willing to accept a lower salary or forgo pay rise and/or promotion for better work-life balance, overall well-being and happiness, says recruitment firm Michael Page
By | PRASHANT K NANDA | www.moneycontrol.com
The talent war in India and elsewhere is only going to hot up in FY23 and voluntary attrition among seniors will be higher than juniors. And this will not be confined to tech or tech enabled sectors alone, but will play out on a more diverse canvas.
There has been a wave of resignations in India as just over one-third of respondents (38%) have only been at their current jobs for not more than two years, fresh survey findings by global recruitment firm Michael Page showed on April 19.
“Our research also found that a significant 86% of respondents will be looking for new career prospects over the next six months,” Michael Page said in a new study carried out in India and a dozen other countries.
At least 81% of the entry level personnel are looking to resign in the next six months, and this is one of the modest numbers in the employee hierarchy.
While 89% of the managers are looking for a job change, and planning to resign, 85% are at executive and business operation level. Similarly, 84% of senior management personnel are planning to resign during the same timeframe. And at least 79% in the C-suite and specialist roles are planning to switch over the next two quarters.
