The Great Resignation which is already been happening in India for the last two years is most likely to continue in 2022. A report by jobs and recruitment agency Michael Page survey claims that 86% of employees plan to resign in the next six months.
The survey was conducted in 12 countries. The percentage of employees planning to quit their current jobs was the maximum in India, followed by Indonesia, the Philippines, and Malaysia.
Key Highlights
- The great Resignation trend will continue in 2022 across markets, industries, degrees of seniority, and age groups.
- 86 per cent of employees planning to resign in the next six months.
- 43 per cent of the unemployed people have been out of work for more than six months.
- Almost 61 per cent of employees in India would rather accept a lower salary and even forgo a pay rise and/or promotion for better work-life balance, overall well-being, and happiness.
- 11 per cent of employees who have resigned or plan to resign state this as the reason for their departure.
Michael Page stated in its report titled The Great X, “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.”
“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.
Although there has been a lot of debate about organizations’ work arrangements (hybrid, working from home, etc.) and Covid-related regulations prompting employee dissatisfaction.
The report also elaborated on the top five reasons for planned resignations including:
- Career progression
- Change career role or industry
- Unhappy with salary
- Unhappy with strategy
- Unhappy with the direction of the company.
Employees in the public sector are more willing to quit their jobs in comparison to the private sector, followed by energy and natural resources, manufacturing, travel/tourism, retail, and all industries.
