Microsoft Work Trend Index; Employees in India do not perceive prospects for progress at their places of employment!!

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Employees in India do not perceive prospects for progress at their places of employment!!
Employees in India do not perceive prospects for progress at their places of employment!!

Microsoft Work Trend Index; Employees in India do not perceive prospects for progress at their places of employment!! Employees in India do not perceive prospects for progress at their places of employment. Here is the reason behind this.

In India, more than 90% of employees say they would stay at their firm longer if they had more opportunities for learning and development, compared to 76% globally. In today’s hybrid era, businesses should place a priority on skilling people through training, coaching, mentoring, etc. based on their interests and ability.

According to Microsoft’s Work Trend Index Pulse Report 2022, which was just issued,

60% of employees in India say that their current place of employment does not offer enough prospects for progress, and this lack of growth ultimately leads to their quitting their job.

According to the report,

The greatest strategies for luring and keeping personnel are upskilling and reskilling. While upskilling concentrates on enhancing current employees’ skill sets, typically through training, so they can advance in their jobs and find different roles and opportunities within the company, reskilling is the process of learning new skills with the goal of finding a different job or career path. According to the report, which was based on a study of 20,000 people in 11 countries, including India, a staggering 90% of employees there say they’d stay at their company longer if they could benefit more from learning and development opportunities, compared to 76% globally. This makes upskilling and reskilling effective retention strategies.

According to the report, 66% of Indian workers currently believe that switching firms is the greatest method to advance their careers. Notably, 84% of Gen Z (19 to 27 year old) and millennial employees (28 to 30 years old) claimed they would remain with their firm longer if internal job switching was made simpler. Rehiring employees and putting money into their long-term careers can make the difference between a successful and a failing organisation, according to the analysis.

According to BhaskarBasu, country head – Modern Work, Microsoft India,

The need for employee reskilling and upskilling has grown increasingly essential, for the future success of businesses and their employees. He added that employers must understand that “work is no longer just a place, but an experience that needs to keep employees engaged and connected, no matter where they are working from,” and that “companies should focus skilling employees through training, coaching and mentoring, etc., based on their interests and aptitude.” Another study, titled “Talent Exodus Report,” released today by tech staffing companies TeamLease Digital, revealed that if employees are not given enough chances to pick up new skills and do not have enough flexibility at work, they may consider leaving their comfortable jobs in the middle of the job. The study refutes the myth that “a wage raise would improve performance and boost job happiness,” and it found that collaboration and the development of the right skills can help the situation. These patterns also suggest a higher rate of industry attrition. According to Xpheno statistics provided to Mint, 23% of talent within the IT services industry has changed careers at least once in the previous 12 months. With increased attrition rates in the tech industry across all major companies ranging from 8% to 37%, it was stated that the 23% talent movement rate is consistent with the typical attrition rates observed in the Industry. According to Kamal Karanth, co-founder of staffing solutions provider Xpheno, businesses must review their “hiring and retention methods to check high attrition and retain employees.” Follow our site for daily updates regarding this.

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