Talent migration: 60% employees may quit in 6 months for better work-life balance

Employers in India will see more resignations in the year 2022, with one estimate suggesting a whopping 86% of employees plan to put in their papers in the coming six months.

The trend of employees resigning in big numbers has continued over the last two years — the COVID years — and will continue throughout the next financial year, says recruitment firm Michael Page. The consultant states that about 60% employees seek a better work-life balance for which they are willing to sacrifice salary hike and even promotion. Some said they are also ready to accept lower pay, provided their job gives them happiness.

The trend of “talent migration” is witnessed across sectors, age categories, markets and industries. From senior most executives to the junior most employee…people are giving up their jobs for better quality life.

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As per several other studies, employees were resigning mainly because of hybrid or work from home setting among other things. They are unhappy with restrictions on salaries and work put up citing COVID restrictions, say the studies. However, Michael Page’s assessment says that only 11% of people who have resigned or plan to resign cited the above reasons. Most people leaving, says the study, are actually unhappy with their career progression and unsatisfied with what their present job is offering in terms of responsibilities and satisfaction.

The employees are looking for the right job at the right place which boasts of right values and culture.

About 30% candidates think good pay and bonuses matter while not many seemed concerned with brand value attached to a company.

On one hand while the trend of offering resignations continues, a striking 43% said they have been unemployed for over six months.