The world has went through a lot in the past two years. People have struggled with medical issues and seen their loved ones coping up financially and emotionally.
This has brought a huge shift in everyone’s perspective. What seemed important before seems menial today. Especially our regular jobs.
When people get laid off during the pandemic and had to live off half pay, it made them realize their worth. But now, everything has changed. People have started quitting their jobs to either start their own businesses or do something their truly love doing.
According to a survey conducted by the U.S. Bureau of Labor Statistics in 2021, over 47 million Americans voluntarily quit their jobs which was an unprecedented mass exit from the workforce. This phenomenon was termed the Great Resignation.
This led to an extreme shortage of staff in every field and every industry.
The Great Resignation may have started in the US but its effects can be widely seen in India as well.
The Great Resignation & Its Effects On India
As per a survey by PwC, around 34% of Indians are likely to switch their jobs this year, as compared to 19% globally. Moreover, 32% say they plan to leave the workforce, says PwC’s India Workforce Hopes and Fears Survey 2022.
On the top of the list of job-switchers are millennials which amounted to 37% of them likely to quit their jobs this year in India. The report also suggests that nearly 60% of millennials are most likely to ask for a raise and promotion as compared to GenZ, GenX, and baby boomers in India.
The survey states that, following millennials’ lead, the GenZs will also be quitting their jobs in huge amounts but they are more likely to ask for a reduction in the number of working hours.
The survey also concluded that 81% of employees believe their jobs can be done remotely while 31% of those who can work remotely have adapted to the hybrid model.
Source: Business Insider