Indian job market is buzzing with jobs as economy begins to bounce back after the slowdown. With economy’s revival comes the load of immense expectations from both job seekers and employers. Professionals are waiting to move out of their present jobs and industries to switch to a better one.
According to a recent survey, more than 40 % of over 20,000 surveyed plan to quit their current jobs within next six months. Employees across the age and experience groups all over the country in various organizations, functional areas and industries are ready to switch their jobs both within and outside their own industry.
A tough road of attrition has been clearly indicated at by the survey. The disillusionment of recession times had left everyone fretful and disturbed but in the current scenario, new hopes have raised. Middle and lower levels were the most affected and so, higher attrition rate is expected from these levels. Professionals at these levels have no qualms about leaving their current jobs for better profiles and salaries in wake of growing availability of better opportunities. .
Most of the professionals from all major cities such as Bangalore, Mumbai, Hyderabad, Chennai, etc. were found eager to change jobs. Around 60% of the workforce currently employed with Manufacturing, Automobiles and BPOs is planning to change to jobs outside their industries. However, those working with Construction and Information Technology (IT) companies were looking for job change within their own industry.
This pace of attrition is quite amazing but not really unexpected. Professionals in almost all the companies, big and small alike had not received any increments or benefits last year. Their expectations are high this year but if they don’t get good enough appraisals, they would naturally like to move out of the company.
According to a recent survey, more than 40 % of over 20,000 surveyed plan to quit their current jobs within next six months. Employees across the age and experience groups all over the country in various organizations, functional areas and industries are ready to switch their jobs both within and outside their own industry.
A tough road of attrition has been clearly indicated at by the survey. The disillusionment of recession times had left everyone fretful and disturbed but in the current scenario, new hopes have raised. Middle and lower levels were the most affected and so, higher attrition rate is expected from these levels. Professionals at these levels have no qualms about leaving their current jobs for better profiles and salaries in wake of growing availability of better opportunities. .
Most of the professionals from all major cities such as Bangalore, Mumbai, Hyderabad, Chennai, etc. were found eager to change jobs. Around 60% of the workforce currently employed with Manufacturing, Automobiles and BPOs is planning to change to jobs outside their industries. However, those working with Construction and Information Technology (IT) companies were looking for job change within their own industry.
This pace of attrition is quite amazing but not really unexpected. Professionals in almost all the companies, big and small alike had not received any increments or benefits last year. Their expectations are high this year but if they don’t get good enough appraisals, they would naturally like to move out of the company.
Nice insight on the job scenario in this recovering market. by the way i dont think there would be much attrition. In another scene a company who retained his employees inspite of the slowdown tends to earn its employee's loyalty. What do you think ?
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