A great resignation is incoming to the IT powerhouse of the world

[avikz]

News Source: https://www.michaelpage.co.in/talent-trends/the-great-x

Michael Page is a renowned HR consultancy company in India and they have forecasted that a great resignation is going to hit India very soon. The key points are -

1. 86% of employees are planning to resign in the next 6 months
2. 61% of employees are willing to accept a lower salary or a promotion to focus on better work-life balance

We are already seeing a huge amount of attrition in companies like Cognizant, Infosys and TCS with Cognizant leading in this slab with 36% quarterly attrition.

Personally, I lead a team of 70+ associates and around 40% of them have expressed their intent to resign if they are forced to come back to office. It's a huge challenge for many other Indian companies as well.

A huge negative economic impact will most probably follow after this great resignation but it's going to fight the current inflation in India. With less spending by people and with less growth in demand, the inflation may come within controllable range.

Any thoughts?

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[Don Pedro Dinero]

Personally, I lead a team of 70+ associates and around 40% of them have expressed their intent to resign if they are forced to come back to office. It's a huge challenge for many other Indian companies as well.

I imagine they must have shitty working conditions. I don't intend to resign because I'm happy with my job. People want to quit if they feel they are underpaid, or feel exploited doing too many hours and things like that.

Although this started with COVID because people were paid to stay at home, but in the end, people are going to have to eat and to earn their food they will have to work. I don't see that this is going to be so massive and sustained over time.

In the end there will have to be a balance where all the people who want to will not be able to resign, or employers will be forced to offer better working conditions.

[NeuroticFish]

1. 86% of employees are planning to resign in the next 6 months
2. 61% of employees are willing to accept a lower salary or a promotion to focus on better work-life balance

With the recession knocking at our door (is the situation in India so much different from the rest of the world? I doubt it), I think that those numbers are greatly exaggerated.

Personally, I lead a team of 70+ associates and around 40% of them have expressed their intent to resign if they are forced to come back to office. It's a huge challenge for many other Indian companies as well.

The important point is "if they are forced to come back to office".
I think that the companies will adapt. They will have to. Of course, the employees will adapt to. A middle ground will have to be set.

Some will go back to the office, maybe for bigger salaries.
Some will find a middle ground, like 2-3 days in the office and the rest from home.
Some may stay at home, but unless they're exceptionally qualified, they will have to find different employer.

So the situation is far from "black and white" and I expect that in many (most?) cases a middle ground will be found.

[Ucy]

In normal circumstances it wouldn't be proper to blame those who get the pay they deserve(for solving problems) for inflation. Ignoring the problems could lead to more problems that can hinder productivity while consumption remains constant or continue to increase in the larger society. If you don't pay thousands of qualified teachers in order to reduce inflation who will teach/guide the producers to produce enough?

It is OK to blame inflation on those who are not working but somehow are given things made by producers to consume. Or you could blame those who earn or consume more than they deserve

[stompix]

Reminds me of this :

Where are all of Those Quitters? They’re at Work.
https://www.nytimes.com/2022/05/13/business/great-resignation-jobs.html

I had a few friends who were talking about resignation, doing a 4 hours pat time job, but the only guy out of a dozen talking that did quit went back to full schedule after two months, when you have 2000 euros at the end of the month it's easy to say I can live with 1k , when you're getting 1k, suddenly things change 180 degrees.

A huge negative economic impact will most probably follow after this great resignation but it's going to fight the current inflation in India. With less spending by people and with less growth in demand, the inflation may come within controllable range.

Oh yeah, the best way to fight inflation, pay fewer people less money, it's going to do wonders!
How about we go completely the other way, hire more people to produce more increase offer outbalance demand, and bring down prices while hiring and not leaving a few million to die?

With the recession knocking at our door (is the situation in India so much different from the rest of the world? I doubt it), I think that those numbers are greatly exaggerated.

It's like those numbers of people willing to go was for their county in peacetime, when it's actually the moment to di they all suddenly remember they have loans, mortgages, rents/ and they will sit again for a few years at the same desk with the same wage with the only difference being the increase of tweets and posts on reddit

[Hydrogen]

A huge negative economic impact will most probably follow after this great resignation but it's going to fight the current inflation in India. With less spending by people and with less growth in demand, the inflation may come within controllable range.

Its been claimed that the life expectancy for americans declined significantly in 2020, 2021 and 2022. Some sources claim life expectancy for americans diminished as much as 5 years in 12 months.

Economic recession. Global pandemics. All would appear to contribute towards elevated homelessness, crime, violence, homicide, suicide and overdose rates. Which would take a severe toll on life expectancy and population growth.

If you're searching for decreased demand. It could happen. At the expense of human life. Japan has arguably enjoyed success with its negative population growth. Perhaps that will become our model for the future. A case study where we may not have much input as to which trends materialize. Many of the trends we face could have grown too large to be stopped now. Even if a collective and comprehensive effort was made to reverse those trends.

But even decreased demand won't necessarily curb rising inflation.

The only thing that can stop inflation is people dong more to be informed and knowledgeable on the topic on an individual level. Many of our worst policies were enthusiastically supported by the majority. There were people willing to battle to their last breath to support things that directly led to inflation. How do get these people to stop supporting the wrong things? They must invest more effort into being more knowledgeable and making better choices. That's what is needed the most if these issues are ever to be fixed.

[Fortify]

News Source: https://www.michaelpage.co.in/talent-trends/the-great-x

Michael Page is a renowned HR consultancy company in India and they have forecasted that a great resignation is going to hit India very soon. The key points are -

1. 86% of employees are planning to resign in the next 6 months
2. 61% of employees are willing to accept a lower salary or a promotion to focus on better work-life balance

We are already seeing a huge amount of attrition in companies like Cognizant, Infosys and TCS with Cognizant leading in this slab with 36% quarterly attrition.

Personally, I lead a team of 70+ associates and around 40% of them have expressed their intent to resign if they are forced to come back to office. It's a huge challenge for many other Indian companies as well.

A huge negative economic impact will most probably follow after this great resignation but it's going to fight the current inflation in India. With less spending by people and with less growth in demand, the inflation may come within controllable range.

Any thoughts?

This sort of research is clearly ridiculous and only designed as clickbait to fool gullible viewers. There is not going to be some sort of mass exodus of IT workers, it is probably one of the highest paying sectors within India but let's face it the jobs are not pleasant. It will be really basic stuff like data entry or even call center type jobs, very repetitive with little satisfaction. However they are still in a highly privileged position in comparison to hundreds of millions of other Indian's who are having to do lower level jobs and they will cling on to IT work for as long as possible because the alternative is much worse. Nobody wants to work, they do it to pay for housing and food to live.

[South Park]

News Source: https://www.michaelpage.co.in/talent-trends/the-great-x

Michael Page is a renowned HR consultancy company in India and they have forecasted that a great resignation is going to hit India very soon. The key points are -

1. 86% of employees are planning to resign in the next 6 months
2. 61% of employees are willing to accept a lower salary or a promotion to focus on better work-life balance

We are already seeing a huge amount of attrition in companies like Cognizant, Infosys and TCS with Cognizant leading in this slab with 36% quarterly attrition.

Personally, I lead a team of 70+ associates and around 40% of them have expressed their intent to resign if they are forced to come back to office. It's a huge challenge for many other Indian companies as well.

A huge negative economic impact will most probably follow after this great resignation but it's going to fight the current inflation in India. With less spending by people and with less growth in demand, the inflation may come within controllable range.

Any thoughts?

While I have no doubts some people will actually resign we must understand that there is a big difference between what people say and what they do, this is known which is why questions about what people are thinking about doing are not very useful and instead we need to look at what they are actually doing, and I doubt that many people are going to quit their jobs if they have go back to the office because as we know finding a good job is difficult, so unless all of those people already have another job offer most of them will do as they are told.

[edgycorner]

I think there are a few factors at play here.

The first is that there is a lot of pent-up demand for resignations. We are coming off of a year where many people were forced to stay in their jobs because of the pandemic. I think there is a lot of pent-up frustration that is going to be released in the form of resignations over the next few months.

The second factor is that there has been a lot of discussion lately about work-life balance. I think people are starting to realize that they don't need to sacrifice their personal lives for their careers. They are willing to take a pay cut or take a demotion in order to have a better work-life balance.

The third factor is that inflation is starting to pick up in India. This is making people more hesitant to spend money, which could lead to less demand and slower economic growth.

I think all of these factors are going to lead to a lot of resignations in the next few months. I think it is going to be a challenge for Indian companies to handle all of the resignations, and they are going to need to be prepared for a slower economic growth.

[el kaka22]

This isn't just India neither, this is the whole world. We had the same thing in USA for example, and we had it in UK, and France I believe, only place that looks solid right now is Germany as always.

The employers started to realize that they could put more work on employees and the more they put the cheaper workforce became and they didn't realize that there is a point where people would quit, there isn't a "warning sign" about things like this, you overwork someone until they quit, and if people start to do it all at once, then companies would be in dire situation to hire some people hence everyone who quit would find a job somewhere else who needs them, so workers will win in the end, by simply exchanging jobs between each other.

[Anonylz]

Do they have a plan B accompanied with this thought? If an employee already planning to resign is because he/she have something better that awaits them.
Perhaps, the salary does not match up with the volume of work they handle. I think any reasonable company that understand the importance of IT in a company would not want this to happen.

86% is a huge number, basically almost all the IT guys wants to resign is definitely not a good sign,  the company's in question will face a huge problem if they neglecte this issue.
IT staffs you be among well paid staff in any organisation because of the nature of their job and it's importance.

[stompix]

and if people start to do it all at once, then companies would be in dire situation to hire some people hence everyone who quit would find a job somewhere else who needs them, so workers will win in the end, by simply exchanging jobs between each other.

Yeah, just like they have been winning since February 21, 1848!

I just love these things, first, they demand they have to be paid much more and work less, then they ask for the company to provide everything, then they demand that the company must be profitable so that their workplace is safe, and then when they are at the hypermarket, they throw a tantrum why are the products so expensive, why there isn't an employee to mop in front and after them, why isn't there somebody to put his merchandise in bags and carry to the car smiling all the time and why is there no free taxi drive to the hypermarket in the first place!

But no, the fun doesn't stop there.
Once the glorious people worked to get enough put aside and stats their own business, the first screams are on how much people want as a wage, why they want that much for doing basically nothing, stuff that he could have done for half of the price!

In short, they want to get paid more for less work, more money for less quantity of products or services, but, obviously, they are against inflation.
Cause, well, it's 2022 and logic is dead.

However they are still in a highly privileged position in comparison to hundreds of millions of other Indian's who are having to do lower level jobs and they will cling on to IT work for as long as possible because the alternative is much worse. Nobody wants to work, they do it to pay for housing and food to live.

Yeah, they take a small sample that has wages three times over the median, that have their own house, enough money put aside, and ask them if they would take a pay cut for more feet time and of course, the answer will be yes because they afford it, but they completely ignore the fact that even if they say yes also, the ones at the bottom won't be able to do it in the first place.
It's one thing to say I would do it, completely differs from actually doing it.

[Cling18]

Countries and companies that won't value their skilled employees are like throwing gems. Those employees will only find better opportunities that will fit their skills with the right compensation. It deserves a better salary and I hope huge businesses would know that they're also the backbone of the company. They can rehire new employees but it will be a loss if they will let go of experienced and skilled employees.

[kryptqnick]

I think it's very good that people are decisive and ready to risk it for some improvement in the quality of their lives. However, looking at these two numbers on resignation and lower salary for a better work-life balance, it seems to me that there's a simple solution to the problem, no? Offer the employees to work fewer hours and get a bit less money (if it's absolutely impossible to keep the original salary in a way that 4-work-day week experiments in developed countries do). Then people are much less likely to resign, some money will be saved from paying them less (which perhaps can be used to hire more employees part-time if it's needed), and people will become more satisfied.

[teosanru]

News Source: https://www.michaelpage.co.in/talent-trends/the-great-x

Michael Page is a renowned HR consultancy company in India and they have forecasted that a great resignation is going to hit India very soon. The key points are -

1. 86% of employees are planning to resign in the next 6 months
2. 61% of employees are willing to accept a lower salary or a promotion to focus on better work-life balance

We are already seeing a huge amount of attrition in companies like Cognizant, Infosys and TCS with Cognizant leading in this slab with 36% quarterly attrition.

Personally, I lead a team of 70+ associates and around 40% of them have expressed their intent to resign if they are forced to come back to office. It's a huge challenge for many other Indian companies as well.

A huge negative economic impact will most probably follow after this great resignation but it's going to fight the current inflation in India. With less spending by people and with less growth in demand, the inflation may come within controllable range.

Any thoughts?

I think it's true reopening of offices is going to give companies a very negative setback. I heard TCS decided to open up offices recently and it has left whole of the market in a shock, TCS was one of the few companies who had declared permanent wfh for employees and employees had already accepted this fact that they will be working from home now. But now suddenly they have opened offices as well. I think for IT companies obviously it doesn't makes any sense to open offices as eventually they are working for clients which live abroad

[Gyfts]

Personally, I lead a team of 70+ associates and around 40% of them have expressed their intent to resign if they are forced to come back to office. It's a huge challenge for many other Indian companies as well.

A huge negative economic impact will most probably follow after this great resignation but it's going to fight the current inflation in India. With less spending by people and with less growth in demand, the inflation may come within controllable range.

Any thoughts?

It's not uncommon. There are cherry picked studies that suggest remote work is more or equally as effective than in-office work but the studies are limited and have small sample sizes. The inconvenient truth is people enjoy remote work because it allows less constraint from supervisors, which means productivity goes down.

An employee in a free market has the liberty to decide what they're worth and move on from a position if the conditions aren't suitable for their needs. If people want to resign to so they can have a better work-life balance, I don't see any issues.

[passwordnow]

IIRC, the USA has this problem too. Many don't like to go back to their jobs and they're good as wherever they are. Even McDonald's and other companies are raising their rates but still many haven't filled yet. There's that sense in the economy that it'll be like that as what you've said that lesser expenditures but the impact of it is bigger when more are unemployed. People have to bear that almost everything is going back to normal now and going back to the office is being implemented by most companies. But if they've been used to working remotely, after  they resign, for sure they'll find a remote opportunity.

[Welsh]

Resignation or redundancy? I'm not sure if India has the latter, but I know over here there's plenty of redundancies being made now. Although, even then that figure is rather large, which makes me think this is just scare mongering rather than anything with substance. Especially since it's apparently resignation, and therefore the employee is planning on doing it themselves, even though there's going to be a huge global recession. I'm not buying it.

With the recession knocking at our door (is the situation in India so much different from the rest of the world? I doubt it), I think that those numbers are greatly exaggerated.

Well, I actually think the figures have been plucked out of thin air, rather than being exaggerated. Those are some huge numbers, and there's absolutely no way I'm believing that 86% of employees are planning to resign. I'm wondering how the data was first collected, and whether it was fairly collected or if they went to the poorer, and most overworked area, and conducted this research.

[JayJuanGee]

News Source: https://www.michaelpage.co.in/talent-trends/the-great-x

Michael Page is a renowned HR consultancy company in India and they have forecasted that a great resignation is going to hit India very soon. The key points are -

1. 86% of employees are planning to resign in the next 6 months
2. 61% of employees are willing to accept a lower salary or a promotion to focus on better work-life balance

We are already seeing a huge amount of attrition in companies like Cognizant, Infosys and TCS with Cognizant leading in this slab with 36% quarterly attrition.

Personally, I lead a team of 70+ associates and around 40% of them have expressed their intent to resign if they are forced to come back to office. It's a huge challenge for many other Indian companies as well.

A huge negative economic impact will most probably follow after this great resignation but it's going to fight the current inflation in India. With less spending by people and with less growth in demand, the inflation may come within controllable range.

Any thoughts?

This sort of research is clearly ridiculous and only designed as clickbait to fool gullible viewers. There is not going to be some sort of mass exodus of IT workers, it is probably one of the highest paying sectors within India but let's face it the jobs are not pleasant. It will be really basic stuff like data entry or even call center type jobs, very repetitive with little satisfaction. However they are still in a highly privileged position in comparison to hundreds of millions of other Indian's who are having to do lower level jobs and they will cling on to IT work for as long as possible because the alternative is much worse. Nobody wants to work, they do it to pay for housing and food to live.

For sure, the devil is in the details regarding how strong of a bargaining position that any single person is going to have in order to follow through with any threat to quit his/her current job and to have a better situation with some other employment or not working. Higher skilled persons will tend to have more options, but the options are still not likely to be unlimited, but if being out of the work place (and out of the grueling routine of daily reporting to work), there may have been opportunties presented that had not previously been realized or understood prior to getting sent home.  Some members of the work-force will be in a better position to follow through with their threat to quit, and some of them will make mistakes if they have not figured out their situation in order to perhaps assure that they will be able to get better work and/or better pay for their skill levels and job-related experiences.

Countries and companies that won't value their skilled employees are like throwing gems. Those employees will only find better opportunities that will fit their skills with the right compensation. It deserves a better salary and I hope huge businesses would know that they're also the backbone of the company. They can rehire new employees but it will be a loss if they will let go of experienced and skilled employees.

Still a question regarding which of the two are in a better bargaining position. Companies do not always give too many shits about employees until they are forced to do it, and there are different dynamics if the companies are in a market in which they do not have as much bargaining power as they thought that they had.  The bargaining position is not always as general as people might think that it is, and accordingly some skill levels are going to have more bargaining power than others, and usually companies are able to measure these kinds of matters, but either side can be wrong about their information and their abilities to not reach an agreement regarding the current position of the employee and considerations about whether it is better to accommodate the employee in terms of working conditions or wages or to get a new employee.

[dothebeats]

This is one thing that I don't quite understand for these tech companies. Most of their products are built, modified, and shipped through the internet. What makes working on office different from working at home when one can still accomplish the tasks at hand just the same? Meetings can also be done through online platforms like Zoom or Webex, so why all the rush to bring back everyone in the office? There are some industries that really require an office-based setup, but it's surprising that the tech sector forces people to return to a setup that eats up a lot of their time and resources before they can get their jobs done.