86% of professionals may seek new jobs in next 6 months: Report

Mumbai: As many as 86 per cent of employees will be looking for new career prospects over the next six months, according to a survey. Across all industries, levels of seniority and age groups, a clear majority has indicated this major talent migration will continue, it added.

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The report with data-backed insights drawn from a survey of 3,069 respondents across 15 sectors in 12 APAC markets, including India, gives a depiction of what the talent market looks like today, and how it will likely pan out over the year. A significant 86 per cent of employees in India will be looking for new career prospects over the next six months, according to professional recruitment services firm Michael Page India's Talent Trends 2022 report - The Great X.

In 2022, the report further stated that organisations are focused on creating a compelling employee experience and nurturing company culture - especially in a hybrid work environment. With the pandemic forcing home and work life into the same physical space, a spotlight has been placed on how people view not only their work but their lives more holistically.

Employees are re-evaluating what constitutes quality work, and they want it to be purposeful. While salaries, bonuses and rewards are still a top attraction for candidates, the report found a big swing towards non-monetary motivators.

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As per the report, a significant 61 per cent of respondents in India are willing to accept a lower salary or forgo a pay rise or promotion for better work-life balance, overall well-being, and happiness. According to the report, 57 per cent of the respondents say that their workload has increased compared to the pre-COVID-19 level, while 88 per cent believed that their company does not take active steps to ensure work-life balance.

Matching salary expectations will be one of the leading recruitment challenges in 2022, it noted. However, the challenges facing recruiters, HR departments and hiring managers are consistent across industries with demand for talent far outstripping supply, making human capital one of the scarcest resources, it said.

"The technology sector will continue to see tremendous demand for talent due to a global and local shortage. As India has a great talent pool in this area, it is well placed to meet global needs,” Michael Page India and Thailand Senior Managing Director Nicolas Dumoulin said. Salary, bonus and reward will remain the key soft motivators, influencing 20 per cent of candidates in their decision on where to work, said the report.

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The past 24 months have revealed people's desire for flexibility and autonomy over their jobs, with employees wanting pay, bonuses, benefits, and rewards, but more than ever, they want to feel valued and heard by their employers. Of those unemployed, 43 per cent say they have been so for more than six months, it said.

The surge in resignations is being driven mainly by people searching for the right job at the right company with the right values and culture - and many would simply rather remain unemployed until they have found the right match, it observed.

"The pandemic has brought with it long-term changes in the way employees view work. "While working from home has brought many benefits for the workforce, including more time, greater flexibility and better outcomes for a balance between their personal and professional lives, it has also introduced other challenges such as greater fatigue, reduced well-being and social connect, and a disconnect with the company ethos," Michael Page India Managing Director Ankit Agarwala observed.