No pay, no play: 75% of employees plan to jump jobs within 6 months, finds report

The data revealed a fundamental reset of people’s relationship with their jobs and the value they attach to them. And it all comes down to one thing: work-life balance.

Companies can only confidently rely on fewer than 1 in 10 people in their current workforce to be retained this year, according to a report. Currently, 75 percent of employees in India are “active job seekers”, meaning they are looking right now or plan to find a new job within the next 6 months. Meanwhile, 23 percent are on the fence but open to finding a new job.

The report titled ‘The Invisible Revolution’ by Michael Page India claimed that the much-trumpeted Great Resignation never ended – rather than being a blip, higher attrition is now a longer-term reality for many employers.

"Loyalty has lost its lustre for many workers, with even ‘happy’ staff now open to being tempted away with the promise of better pay, flexibility and conditions," it said, adding that 98 percent of all employees are open to new opportunities.

The report which surveyed 70,000 globally skilled and white-collar professionals, also found that this is not an isolated event, but a universal movement. Employees in Japan (69 percent), China (86 percent), and Australia (90 percent) are open to new opportunities in 2023.

Fundamental reset

The data revealed a fundamental reset of people’s relationship with their jobs and the value they attach to them. And it all comes down to one thing: work-life balance.

Job satisfaction is less important because career success is no longer a main priority. As per the report, 5 in 10 people would choose mental health and work-life balance over career success. And when it comes to career success, people believe a good salary (52 percent) is much more important than job satisfaction (48 percent).

Further, 37 percent of people (47 percent in India) are willing to reject a promotion if they believe it will have a negative effect on their well-being. This has decreased from 61 percent in last year’s study, showing how important salary is now considered in the current economic climate.