Indira Ramachandra is an experienced Human Resources professional with a track record of successfully handling HR strategy and operations in the information technology and services industries – with exposure to diverse culture. With over 25 years of experience in HR and business roles, has vast experience in the areas of designing, leading, and implementing best practices & HR processes in employee relations, staffing, Org development, and change management. She has been a trusted advisor and coach in providing solutions across strategic and operational issues impacting business delivering strategies and compliance norms, apart from managing all aspects of scaling up operations.
A recent Bankrate survey (in August 2021) finds most Americans (55%) in the workforce are likely to search for a new job in the next 12 months. According to the study, among those who are employed and looking for work, more than half (56%) say work flexibility (i.e. working hours and/or the ability to work remotely) is important to them. Another study conducted by a SaaS company WorkInSync suggests that 54% employees might consider quitting if not allowed hybrid work.
The reasons for this attrition are multifold.
- Employees who did not want to quit in 2021 due to pandemic-induced uncertainty in the job market, are now looking to explore new opportunities as the job market is opening up.
- The pandemic not only disrupted businesses and impacted the way we work, it has also slowed down and stalled employees’ career advancement. This sense of stalled career growth and other factors might drive employees to switch jobs in order to bring their career aspirations back on track. Other contributing factors for switching jobs include: unrevised pay, addition or changes in responsibilities (which might not be in-line with their skill sets), and employees’ changed expectations towards their career.
- Moreover, the needs and expectations of the employees post-pandemic has changed. Today, employees expect their organization and managers to tailor unique workplace flexibility options that suit their specific needs and circumstances.
- In other cases, employees are defining and aligning their core values as they reboot their career in the post-pandemic world. They are trying to seek employment with organizations that have the type of culture, the career and learning opportunities, and the meaningful work that suits their core values. For instance, if an employee’s values flexibility over their work to achieve work-life balance, they will look for an organization that offers different types of flexibility in the workplace. It is important to note that the concept of flexibility has now acquired a multifaceted meaning that factors in not just where the work can be done, but how it can be done, and when it can be done.
- The attrition is also fueled by the demand for top talent with high technological competencies. Organizations across sectors and segments are accelerating their automation and digitalization strategies to keep pace with the changing business landscape and to maintain a competitive edge. As a result, companies that provide IT and ITeS services have projects to work on and these IT companies need resources to work on these IT projects.
- The talent war in the IT sector has led to rising competition in terms of providing higher salary hike percentages, attractive perks and benefits, as companies fight to attract the top talent. This has also encouraged attrition to some extent.
As the pandemic continues to make its impact, albeit in various forms, the job turnover scenario is likely to continue. Now that the economies are showing signs of recovery and employees having tasted the flexibility of working remotely, employees’ expectations are still in flux. Employees are rethinking their careers, work conditions, and evaluating their long-term goals.
While it is important for the organizations to consider employees seeking such flexibility, it is also important for employees to understand the compulsions of organizations as a result of specific operational activities and extend cooperation to the values shared by organizations. This would eventually turn out to be a new win -win situation for employees and organizations.