![]() This emerged as especially important among white collar workers people in trade, transportation, and utilities and individuals in goods-producing industries such as construction and manufacturing. In the case of the healthcare and social assistance sector, essential workers have been on the frontlines throughout the pandemic, further exacerbating workload challenges. Given the massive labor shortage, particularly in these industries, remaining employees have had to compensate for this talent gap. Employees in leisure and hospitality as well as healthcare and social assistance plan to leave because their workload is unmanageable, leading to poor health and well-being. However, in certain industries, the following specific drivers are pushing people to leave: Our research shows that employees across industries are leaving because they do not feel valued and have poor work-life balance. Forty percent of employees report that they are likely to leave their job within the next 3-6 months. And hence if that is not there, that’s one of the most important reasons for people to stay in organizations" he added.November 8, 2021Organizations are reporting unprecedented levels of turnover. "We have seen in companies, in a lot of companies our colleagues have been there, and people have joined in, there is no emotional connect, no connect with the supervisors, no connect with the colleagues and hence what’s happening is that the main bond is missing. Vikram Bhaskar the Chief Revenue Officer at, Asia says that the lack of a bond or connect with the organisation or team-mates has acted like a catalyst in the great resignation. The uncertainty in employability is forcing fewer students to apply for fresh courses in the sectors too. While the hospitality industry has seen a 30% loss of employees, the tourism sector has seen nearly 60% of workers move on to other, more stable work. Sectors like travel and hospitality have borne the biggest brunt. Frequent disruptions due to Covid-19 has increased uncertainty in job security in some service sector jobs, leading to an exodus of workers from these fields. The services sector in fact has seen a bigger churn out post the pandemic. It is however lower at 16% for the manufacturing sectors whereas 22% for the services sectors. Singh says that the attrition trend is likely to continue as long as there is demand and that the rates will be similar to that in 2021.Īccording to Aon's latest report I-T and E-commerce continues to see attrition rates of over 20% which is an average across the country. "There is a lot of pent up anxiety that has been built up in the entire work from home model and on top of that you bring the opportunity that is coming in this sector, purely from the way the technology sector is shaping up" says Jang Bahadur Singh the Head of IT Sector at AON India. Some experts also believe that the Work from Home or Hybrid model can be the reason behind the high resignation. So in a way I would look at the great resignation as a great opportunity for India" I feel that because of which there is a demand-supply gap and there is an increased opportunity for the talent available. So there is limited available skilled talent has to cater to all these areas. There is also an increase in GCCs, the captive centres in India. ![]() So lot of jobs from the top 3 services organizations have moved to these startups. " India's startup ecosystem has seen a boom of late, it has already created around 1.7 lakh jobs. While speaking to ET NOW Sunil C, Head- Specialised Staffing at TeamLease Digital feels that there is a demand-supply gap, however, the this gap can be seen as an opportunity for the existing talent. What then is driving this 'Great Resignation'? This rise is the highest in the last decade also marking a sharp increase from the 2020 rate of about 12%. In fact, Infosys reported an attrition rate of 25% for Q3, while Wipro reported a 22.7% attrition. Top IT companies like TCS, Infosys, Wipro and others have been struggling with high attrition rates of about 20-25% in the last quarter. Mumbai: If the Information Technology sector has been among the top job creators in the country, it also accounts for a significant amount of attrition. Tourism sector has seen nearly 60% of workers move on to other, more stable work during the course of the pandemic.
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