The Great Resignation 2023 India | How Is Shework.in Creating Opportunities?
Working in the corporate space, people quitting their jobs abruptly is very common. This has also been a topic of discussion for a lot of office gossip. However, something unusual started to happen in the spring of 2021 in the United States. People across the country have been resigning from their positions in search of better opportunities, work-life balance, etc. This mass quitting act of employees across the US was termed The Great Resignation, and the trend took no time to enter the Indian market, disrupting the Indian job market.
What Exactly is Great Resignation?
The voluntary act of mass resignation of employees from a workforce is a great resignation. In the aftermath of the COVID-19 pandemic, the job market was destabilized across industries. The introduction of new rules at the workplace with salary cuts, overtime shifts, and less ROI on time, saw Indian employees on a resignation spree.
A FlexJobs survey suggested that 42% of the employees chose to quit in the conquest of better work-life balance, job security and growth. With the demand for a skilled-based workforce with remote jobs and freelancing gigs picking up pace, employees found quitting a more accessible option.
Though this trend started in the United States, a study found India has the highest number of employees planning to quit, followed by Indonesia, the Philippines and Malaysia.
How is India Affected by the Great Resignation?
With the growing strategies put forth by the Indian Government, the great resignation in India has also been termed the great reshuffle. Projections for the increase in employment opportunities predicted this trend, but riding the waves of COVID-19, the Indian market saw an immediate impact on its job market.
Michael Page India’s report suggested that around 82% of the Indian workforce will be looking for better resign in the next six months. The top reason for leaving a job was opportunities with better work-life balance and happiness. The report also predicted that 61% of the employees are willing to take a salary cut for remote facilities. This made the workforce more dynamic, making the demand for remote opportunities reach an all-time high.
The Indian workforce has seen a swift shift of paradigm, as the factor of competitive salary—the top reason for leaving a job—was taken out and replaced with employment opportunities that provide a better work-life balance and well-being. An interesting study of the report also suggested that this trend will impact the market, affecting industries, age groups, and degrees of seniority.
Jobseekers looking at opportunities in the post-pandemic era in India are seeking opportunities at companies that offer better pay, work-life balance, stable career growth and continuous learning and upskilling opportunities.
What are the causes underlying India’s Great Resignation?
India’s Great Resignation seems very different from the trend that is being followed in the United States. Though there are many reasons for an employee to leave a job, narrowing it down for you, here are the top 10 reasons for leaving a job in India:
- Career Change
- Staged Career Growth
- Organizational Restructuring
- Better & Different Leadership Roles
- Health Issues
- Better Pay-scale
- Remote Opportunities
- Work-life balance
- Well-being & Happiness
- Toxic Work Culture
Other issues that have impacted the Indian workforce are job burnout, no control over work dynamics and the lack of learning and development opportunities.
Thinking of Joining the Great Resignation? Consider Joining Shework.in Instead!
Being a working professional stuck in a job, the idea of riding the wave of great resignation seems fascinating, isn’t it? But before putting down the papers and listing down the reasons to leave a job, ask yourself this question, ‘is it a good idea to quit at the moment?’
In fact, finding a job that matches your expectations is a difficult and time-consuming process. Some of the factors that one should consider before resigning are:
- Back-up support plan during unemployment.
- Financial support for expenses.
- Have you found a good opportunity elsewhere?
- Updating resumes and other job profiles.
- Do you possess the necessary hard and soft abilities if you decide to change careers?
But there is always a better option on the lookout. Joining a shared employment platform like SheWork.in can help you find the ideal job. SheWork.in specializes in the IT sector and celebrates women in tech. Shework.in has helped thousands of job seekers find their ideal job by empowering women in the booming IT sector. Click here to learn more about Shework.in and start your job-hunting process.
The Great Resignation: What Does It Mean for Jobseekers in India?
In a diverse and populated country like India, the resources are unlimited, and the opportunities are limited. Due to the great resignation, a market of jobseekers has created an imbalance in the hiring and recruitment sector.
Though, this has opened new doors of opportunities for job seekers. The companies will be enrolling employees to fill the vacant positions, creating an advantage for jobseekers and giving them the freedom of choice to apply for companies they want to work with and not the other way around.
This act has also influenced a trend in companies to promote the concept of remote job opportunities and an inclusive culture of work-life balance. With this plan in action for many companies, the hiring process has been eased with increasing opportunities for job seekers.
Apart from this, the jobseekers demanding more control of their work, a sense of reconsideration before taking up an opportunity has increased. Also, the change in priority has impacted people to look for a stable job with competitive salaries, job satisfaction and better work-life balance.
In a nutshell, great resignation means improved and enhanced job opportunities for job seekers.
The disruption caused due the great resignation has created an imbalance in the employers and employees ratio. Moreover, employees looking for opportunities outside the industry have forced organizations to rethink their offers to their workforce.
However, one thing that has been clear through this “Great Resignation” is that the employees are well aware of their priorities and are taking calculated risks to find worthy opportunities.