No Loyalty! 82% Indian Employees Intend To Switch Job Within 12 Months
Michael Page, a leading recruitment agency from USA having presence across Asia, Europe and Australia, has conducted a survey titled “2015 Michael Page India Employee Intentions report”, which presents a very interesting scenario for Indian employers.
As per the survey, 82% or 4 out of 5 employees have confessed that they will switch their jobs in the next 12 months. Infact, 73% of the surveyed employees actually admitted that they have appeared for various interviews during the last 12 months.
On one hand, employees must feel confident that the job market is so robust at this particular time that everybody is confident of changing jobs. On the other hand, this must be depressing news for employers, who must have planned long term with their star employees. In case 80% of the employees suddenly leave any company, it would be a catastrophe!
Strong Market = Strong Hiring Sentiments
Michael Page India Senior managing director Sebastien Hampartzoumian shared that Indian market is at a prime right now, the employees are aware of their potential and power in this boom time. Sebastien was quite candid when he shared that employers must be alert, and should be devising strategies to retain their top talent.
He said, “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.”
The report mentions the fact that soon India will witness a new level of employee retention and promotion drive to lower attrition and to encourage longer employment.
Hard Work Pays Off
Another interesting trend which this survey discovered was that Indian employees are no longer shy from working hard, in order to create a better future.
34% of the respondents said that they worked more than 51 hours a week, at a time when 40 hours is the norm on an average.
Besides this, 26% of surveyed employees shared that they are seeking to change their roles within the organization for greater exposure and more experience. Yes, this trend can be related with their intentions of switching jobs (82%), but again, deliberately attempting to change role in the company proves that they are working hard, and do not wish to leave any unturned.
Another theory which comes into light is the fact that Indian employees are now even more aware of their worth, and the power which they bring in to their employer. Maybe this is the reason they don’t wish to be pushed around, and hence demanding more than their employers are willing to provide.
Gender Equality Rising
Another positive aspect from the survey was the fact that gender equality is slowly but surely increasing. If 50% of men shared that they were promoted last year, 46% of women shared the same.
This is certainly a welcome relief from our earlier report which showcased that female employees receive 29% less pay than male employees.
This survey was conducted across India, by seeking online participation of 300+ employees, who are employed across India’s premier organizations. Besides this, Michael Page also conducted thousands of interviews with Indian employees to derive the results.