Around 43% of Indian employees are likely to switch jobs this year, according to a survey by PwC Global, which also highlights that more employees around the world are likely to switch jobs this year compared to the great resignation of 2022.
The global proportion of employees who say they’re extremely likely to switch jobs in the next 12 months jumped from 19% during the ‘great resignation’ in 2022, to 28% this year, PwC’s ‘Global Workforce Hopes and Fears Survey 2024’ of more than 56,000 workers in 50 countries and regions, showed.
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What is the great resignation?
The great resignation was a trend where employees across multiple sectors of primarily the US workforce resigned after realising they were unhappy and dissatisfied with their jobs during the pandemic.
What is the percentage of employees worldwide who want to switch jobs?
That proportion of employees wanting to switch jobs varies by region, with Qatar standing at 52%, Egypt at 46%, and India at 43% seeing higher percentages than the Czech Republic at 15%, Taiwan at 18%, and parts of Europe, including Belgium, France and Romania at around 20% each, according to the report.
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Which sectors are most and least affected by employees wanting to switch jobs?
Asset and wealth management employees and those working in the technology sector were more likely to say they would switch jobs, with a proportion of 42% and 39% each respectively.
In contrast, government and public sector employees and healthcare workers were lesser likely to switch jobs, with just 17% and 22% wanting to do so.
Why do the employees want to switch jobs?
Increasing workload is an important factor in this trend, with 41% of employees whose workload has increased by a large or very large extent saying they’re likely to switch employers.
The risk of change-related fatigue and overwhelm is high right now, with 41% of all respondents saying their workload has increased significantly in the last 12 months and that they’ve had to learn new technologies to do their job, among other shifts in their roles and responsibilities.
Adding to this, 51% felt that the skills their job requires will change significantly in the next five years, compared to 29% of those unlikely to switch.
50% of respondents also felt they missed out on career opportunities due to not knowing the right people.
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