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More than 50 Percent of Indians plan to quit jobs right after the completion of 12 months in their respective current jobs: Study

Despite the favorable attitude towards the job, Indians feel that they can't be themselves at the workplace.

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Stressing over tasks is not going to help achieve targets. But turns out writing about it can. (Representational Image ), Pixabay
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March 22, 2017: According to the Mercer study, it is noted that more than half (54 percent) of the Indians plan to quit their jobs right after the completion of 12 months in their respective current jobs. The Mercer’s 2017 Global Talent Trends Study states that even the employees that are not planning to leave their current roles feel laggard and are not been able to pose their real self at work and are unlikely to thrive in a collaborative and innovation workplace.

Mercer’s study reveals the insights from over 7,500 perspectives globally, 461 of these in India, and parallels the views of senior business executives, HR leaders, and employees from organizations around the world.

Ilya Bonic, President of Mercer’s Career business stated, “In an age where digitization, robotics, and AI are wreaking havoc with traditional business models, it is easy for executives to focus on superior technology as the solution to ensuring the competitiveness of their organizations and to overlook the human element,”.

Bonic further concluded that growth hinges on engaging and empowering present manpower in ways that we are just beginning to tap. It takes employees loaded with the right skills and opportunities to develop innovative solutions to advance the business and themselves.

In addition to it, the Mercer Global survey propagated that whilst Indian companies want to redesign their structures, their organisation structures are resistant to change. It said that only 11 percent of the business executives say their organisation is adaptable to changes. The number is still higher than the global average of just 4 percent.

In the survey, 83 percent of organisation in India reported they are planning to redesign their structure in the next two years. Conversely, human resource (HR) leaders do not lay emphasis on job redesign as their primary concern in 2017. As a matter of fact, the matter of primary concern for HR leaders are explicitly building skills across the workforce, identifying high potential, developing leaders for succession, and attracting top talent externally – as it reflects the priority of evolving employee capabilities, however, may not align with executive’s goals for more substantial workplace change.

In HR leaders list of the top management’s priority, “heath” is ranked in the bottom half despite 53 percent of the workforce regarded health as a matter of great concern than wealth.

Flexible work arrangements are also important to employees, with over two-thirds reporting that both their direct manager (73 percent) and company leaders (70 percent) are supportive of it.

The C-suite and HR leaders concede that they do not foresee a “gig economy” – short-term contracts or freelance work – to have a major impact on their business in the next two-year span.

– Prepared by Naina Mishra of Newsgram, Twitter: Nainamishr94

 

 

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How to Maximize Your Chances of Being Approved for a Credit Card

Apply for a credit card with Bajaj Finserv to ensure strong security, enjoy a host of rewards and benefits and get up to Rs 55,000+ annual savings.

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Credit Card
Opt for a credit card that offers multiple benefits.

While you may see many credit card offers regularly, getting approved for one isn’t as easy. Maximising your chances of being approved begins way before the application stage and here are a few tips to help you:

Take your time to research

Jumping at the first credit card deal you see is often a mistake many make when they are starting out with a credit card. Just because a deal is advertised to you, doesn’t mean you will get approved.

Hence, you should take your time to assess three important things

  • Your requirements
  • The NBFC or bank
  • Terms offered by different issuers
credit card
Another step towards digitizing India is Encouraging Digital Transactions by exempting service tax on Cards (Wikimedia commons)

Terms like interest rates, annual fees, and rewards and bonuses are essential features of every card, which you should carefully check and compare.

For example, the Bajaj Finserv RBL Bank Credit Card offers up to 20,000 reward points as a welcome gift as well as the possibility of earning reward points on every transaction you make. Free movie tickets and other benefits can be enjoyed every time you reach a milestone.

Check the eligibility criteria

Every financial institutions issuer has different credit card eligibility criteria, like age, income and credit history, which you should check thoroughly before applying. Skipping this step may result in rejection which is going to negatively affect your credit score and the chances of getting approved for any other card as well.

Review your credit score

The first thing any credit card issuer looks at when you apply for a card is your credit score. It’s on the basis of this that the lenders assess your financial behaviour and the degree of risk they face in issuing you a credit card.

credit card
A person using credit card for transaction, Pixabay

You should request for a copy of your credit report before applying for a card so you can review it and see if your credit score is ideal. If not, then you should take the time to improve your credit score before applying for a card to increase your chances of approval, by applying for a lower category card, and making other payments as well on time.  

Lower your credit utilisation ratio

The credit utilisation ratio shows how much of your available credit you actually utilise against the total available limit. Having a ratio of 30% or less is advised by financial experts because having a higher ratio is an indicator of being credit-dependent. Hence, maintaining a low credit utilisation ratio is going to help you improve your chances of getting approved for a credit card.

Be careful with the details and the documents

While applying for a credit card, you will be required to provide a lot of information in your application including current and previous employment, salary, current debts, contact numbers and addresses among other things.

Make sure to be accurate with even the minutest of details and ensure to not miss out on any field because an incomplete application is grounds for rejection. The application usually requires several other documents which you must submit as per the issuer.

Credit Card
Every financial institutions issuer has different credit card eligibility criteria. Flickr

Apply for a credit card online and get instant approval with minimal annual and joining fees.

Ask your spouse to add you as an authorized user

If your spouse has good credit history, ask them to add you as an authorized user on their credit card. This is easy to do and will give your credit score a boost, increasing your chances of being approved for a credit card.

Things to note

In addition to the above tips, remember to pay of all your outstanding bills on any other credit cards you own, and steer clear of applying for multiple cards at once or within a short time period.

Instead, opt for a credit card that offers multiple benefits. For example, the Bajaj Finserv RBL Bank SuperCard is a card that gives you the power of 4 cards in 1. It’s a credit card, cash card, loan card and an EMI card, all rolled into one that provides industry-first features.

Also Read: Mobile Banking Becomes Main Personal Banking Channel In Singapore

Apply for a credit card with Bajaj Finserv to ensure strong security, enjoy a host of rewards and benefits and get up to Rs 55,000+ annual savings.

You can also avail easy financing by the way of pre-approved offers for a host of financial products. The pre-approved offers make the process of availing loans easier and quicker like never before.