86% Employees May Resign From Their Jobs In Next Six Months: Report

A report by jobs and recruitment agency Michael Page claims that 86% of employees plan to resign in the next six months.?According to the research, almost 61% of employees in India would rather accept a lower salary and even forgo a pay rise and/or promotion for better work-life balance, overall well-being, and happiness.

"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 said in its report.

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According to the survey, this trend will continue in 2022 across markets, industries, degrees of seniority, and age groups. The report states, "We must prepare for it to intensify, with the clear majority indicating a major talent migration event is upon us in the coming months."

Companies' work arrangements: the reason for resignation??

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While there is a lot of debate about organizations' work arrangements (hybrid, working from home, etc.) and Covid-related regulations causing employee dissatisfaction, the survey finds that just 11% of persons who have resigned or plan to resign cite this as the cause for their departure.?

Career progression, higher pay, a role change, and job happiness are all primary factors for employees to resign.

The report adds that these logistical issues are causing unhappiness among employees. However, only 11% of people who have resigned or plan to resign report this as the reason for resignation.

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Why are employees ready to resign??

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The report?states that reasons for resignation could be multiple, including career progression, higher salaries, role change, and job satisfaction.

Even though salaries, incentives, and rewards are unquestionably the most important motivators for candidates, the survey claims that employers overestimate the importance candidates place on them by 29%.

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A company's brand is also considerably less important to candidates than employers believe — employers overestimate the importance of a company's brand to candidates by 110 percent.?

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43 percent of the unemployed have been out of work for more than six months.

"The surge in resignations is being driven by people searching for the right job at the right company with the right values and culture."

According to the findings, 61 percent of people are willing to accept a lower wage or renounce a pay raise or promotion in exchange for a better work-life balance, overall happiness, and overall well-being. Only 11% of those who have quit or plan to quit cite COVID-related policies as the reason for their departure.

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