Great resignation has become a global phenomenon as of now. The employees are re-evaluating their career choices and leaving their jobs to explore other career paths even at times when there’s a pandemic going on. Although the scenario is pretty different in the Indian context.
According to the newly released Mint Survey Report, the 2020 lockdown left the workforce as well as the economy in chaos. But now in 2022, the conditions have changed. Almost 60% of people who lost their jobs back in 2020 have now got new employment. In contrast to the west, the Indian workforce market is on the path of recovery. It won’t be wrong to assert India is not much affected by the persisting wave of resignations.
The Forbes India Report pointed out that employees are also starting to move out of their present industries to a new one with hopes of getting higher pay along with better working conditions. Observers believe that the trend of great resignation is changing into the trend of the reshuffle. Besides resignation, a reshuffle of jobs or career change is likewise happening.
As per Amazon India’s study, job seekers in India are testing their abilities in new industries where they have never worked in the past. Despite no experience, they are applying for the jobs. Around September last year, more than 50 percent of job-seeking candidates had the same trait while 68 percent of candidates were up for industry change.
In India, the job market exponentially grew by 11 percent around July 2021. This percentage directs towards a talent acquisition trend too. The booming digitalization in companies and rapidly growing technology are some of the reasons for the jump in talent acquisition. In addition to talent, the demand for skilled tech employees or IT professionals has grown in the country.
To meet all the new altered circumstances, companies are setting their offices not just bigger but smaller towns as well. In the recent survey, it is visible that people have faith in the current Indian economy.