The secret to millennials' tendency for frequent job shifts may be out. Around 73 per cent of the millennials strongly feel frequent job shifts have helped them grow in their career, according to a Randstad India survey.
The survey also reveals the top reasons behind frequent job shifts by the Indian workforce. Around 71 per cent of the respondents rate lack of career growth opportunities as the number one reason to change jobs.
Additionally, 48 per cent rate lack of adequate compensation as the second most important reason and 40 per cent rate dissatisfaction with the work culture as the third biggest reason to leave their previous organisations, followed by lack of work-life balance and employee benefits.
On the other hand, 27 per cent indicated that they do not feel so owing to the top three reasons - lack of time and experience required for career progression opportunities, lack of in-depth knowledge gained in a particular role and lack of credibility in the employee by the new employer.
Happy To Rejoin
The survey highlights, about 60 per cent of the respondents are willing to rejoin their previous organisations.
The top four reasons indicated for them to consider joining their former employers are increased salary (64 per cent), a familiar environment (52 per cent), an elevated position at work (48 per cent) and the employer brand (39 per cent).
Majority (73 per cent) of the respondents would also advise friends and family to apply for a job with their previous organisations.
“From an employer's perspective, the trend of returning employees is definitely a positive one though it will intensify the competition,” said Moorthy K. Uppaluri, MD & CEO, Randstad India in a press statement. “Returning employees are indeed assets to organisations; they tend to have higher loyalty, they get up to speed quicker as it is easier for the employer to integrate them back to the organisation's workstyle, culture, systems and processes.”
Around 81 per cent of the survey respondents belonged to the age group of 25-35 years, 17 per cent aged less than 25 years and 2 per cent above 35 years old. About 55 per cent of the survey respondents had 1-2 job changes and 26 per cent had 3-4 job changes in their career. The survey findings also highlighted that only a very small percentage of the survey respondents (24 per cent) are part of any of their previous employer alumni programmes.