The Talent Trends study 2023 by global recruitment firm Michael Page, which reached out to nearly 4,000 skilled, white-collar employees in India, showed that about 75% of these are active job seekers, meaning they are looking out for opportunities right now or plan to find a new job in the next six months, while 23% are on the fence but open about finding a new job.
“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,” said Ankit Agarwala, managing director, Michael Page India. “Nearly three out of four are active job seekers considering new roles.”
The study participants included 21% top level, including C-suite employees, 51% senior level such as departmental managers, 14% mid-level such as line managers, while 10% were those without any managerial responsibilities.
The study also showed that people are open to new opportunities regardless of when they started their current job, with almost two-thirds of those who started their job as recently as 2022 being active job seekers.
“The culture of long-term service to a single company is becoming an obsolete concept. Loyalty has lost its lustre and job hopping is becoming a norm,” said Agarwala. “This trend is especially picking up with an acute shortage of skills in the market and employers too are not looking at loyalty as an important requisite in talent—as was the case 3-4 years ago—as long as they find the right skills.”
The survey also showed that the three most important factors for talent to decide their next role includes salary, career progression and flexibility.