As per Page’s findings, 61% of employees in India are ready to accept lower salaries and let pay rise or promotion so that they can balance their professional and personal lives.
“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,” Michael Page stated in its report titled The Great X.
As per the report, the trend shall continue across industries, markets, in different degrees of seniority and age groups.
“With the clear majority saying a significant talent migration event is upon us in the next few months, we must be ready for it to increase,” the report stated.
As per the report, the top 5 reasons for the resignations include change in career role or industry, unhappy with salary, career progression, unsatisfying strategy or direction of the company.
On the basis of a survey among 12 countries, the report says that the number of employees planning to quit their jobs hail mostly from India, followed by Indonesia, Philippines and Malaysia.
Looking at logistics, with people working from home and wanting to go on worksations without hampering productivity at work, many countries have implemented the 4 day working module. The world’s biggest trial of 4-day work week has already kicked off in the UK wherein more than 70 companies and 3,300 employees are participating.
The same trial will start in 2023, in Scotland while Wales is considering it. Similar programs are set to start in the US and Ireland, Canada, Australia and New Zealand.
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