The findings suggest that 61 percent of employees in India are willing to accept a lower salary or forgo a pay rise and/or a promotion for better work-life balance, overall well-being, and happiness. A whopping 86 percent of employees are planning to resign in the next six months. The reason for this extreme step has been cited as the negative impact of the COVID-19 pandemic on the economies of the world.
Michael Page, in its report titled The Great X stated, “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.”According to it, this trend will continue across markets, industries, degrees of seniority, and age groups.
Among the reasons for resignations by the employees include career progression, change in career role or industry, unhappiness with salary, unhappy with the strategy or direction of the company. The report also found out that the Indians lead in the slab of 12 countries surveyed, where employees are planning to quit their current jobs. This is followed by Indonesia, Philippines, Malaysia, Thailand, and Southeast Asia.
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 survey found that only 11 percent of employees who have resigned or plan to resign state this as the reason for their departure.