More employees looking for a change; job market revival may trigger wave of resignations
appraisal season winds to a close, the eventual opening up in the job market in the coming months may see a wave of resignations across corporate India, with many employees looking for change, suggest the findings of a new survey.
As much as 86% of 5,562 professionals who responded to a survey put together by job portal Naukri.com for ET said they would be actively looking out for new jobs now that appraisals were over. About 39% of the respondents said their appraisals had been worse than last year, while they were similar for 33% and better for the balance 28%.
People have chosen to remain where they were as the job market was muted in several sectors with employers exercising caution in hiring decisions fearing cost escalation, said Arvind Usretay, regional client manager – Asia at HR consultancy Mercer. “When such a phenomenon occurs, it bottles up the regular churn in the market, leading to ‘waves’ of sorts (when the job market revives),” he said. “The last time we witnessed such a frenzy was about 24 months ago.”
While a churn will happen when the markets open up, it may not be a “tsunami-like” situation as experienced during the Great Resignation in 2022.
Salary, career growth main drivers
While higher salary (23%) still remains the No. 1 factor prompting employees to look for a change; professionals are increasingly prioritising learning opportunities and skills growth with 21% of the respondents in the survey citing it as a reason to seek a change followed by career advancement at 20%.
“Higher
