A recent survey conducted by global recruitment firm Michael Page has unveiled that 98% of skilled, white-collar employees in India are receptive to new job opportunities, even amidst a slowdown in hiring activity caused by global macroeconomic uncertainty. The Talent Trends study 2023, which involved nearly 4,000 participants, highlighted that approximately 75% of these employees are active job seekers, actively searching for new opportunities either currently or within the next six months. Additionally, 23% of respondents expressed openness to finding a new job, although they were undecided.
Ankit Agarwala, the Managing Director of Michael Page India said, “Our survey shows that the willingness to look out for a job among the employees is not linked to the feasibility of finding a new job. People are constantly looking out despite the economic realities.” He further highlighted that almost three-quarters of the participants were actively seeking new roles.
The survey included a varied spectrum of professionals, with 21% representing top-level personnel such as C-suite executives, 51% representing senior-level roles such as departmental managers, 14% representing mid-level positions such as line managers, and 10% representing non-managerial staff. Surprisingly, the study found that people were open to new chances regardless of when they began their current career. Even individuals who started their current job as recently as 2022 showed a strong proclivity to actively explore new opportunities.
“The culture of long-term service to a single company is becoming an obsolete concept,” Agarwala said of the shift in employment culture. Loyalty has faded, and job hopping has become the norm.” He ascribed this trend to a lack of talents in the employment market, stating that businesses are now more focused on finding the proper skills rather than loyalty, which was a more important criterion three to four years ago.
The survey also provided light on the three key variables driving talent’s decision to move on to their next role: compensation, professional advancement, and flexibility. When exploring new work prospects, these elements emerged as the most important considerations for employees.