Higher salary is main lure for job-seekers this year: Survey

Higher salary is main lure for job-seekers this year: Survey

A significant number of working people plan to switch jobs this year, mainly due to the prospects of a higher salary in other companies, says a survey.

According to global recruitment service provider MyHiringClub.com, “This year, every three-in-five employees want to change their job for better salary prospects and two-in-five employees want to change their job even at the current salary level.”

The survey conducted among 12,756 employees found that salary and dissatisfaction with the current job were the main drivers for a majority of them to look for new job opportunities.

Four-in-five employees surveyed were not satisfied with their current role or current job and one-in-four respondents were looking for a new job in a different industry from their current industry.

Almost 37 per cent of the workforce employed in the banking and financial sectors wants to change to jobs outside their industry, according to the survey. In addition, a large chunk of the employees working in the real estate and telecom space were looking for jobs outside their sectors.

However, those employed in the information technology (IT), FMCG and hospitality industries were looking for job shifts within their own industry.

“Nowadays, sectors like banking, financial, insurance and NBFC are not a preferred industry for job seekers. Two-three ago before, candidates from a non-IT background were keen to work with these industries.

“But now the job market scenario is totally changed. Even candidates from these industries are looking for better opportunities in different industries. Attrition in these industries has also increased to almost double in the last 2-3 years,” said Sat-n-Merc Manpower Consultant Director Prachi Kumari said.

Success rate
Four out of five employees s urveyed believed references have a 85 per cent success rate in getting new job, while another one-in-five respondents considered the online job market and consultants the best option for getting employment.

“Online job market and consultants are losing faith due to fake jobs posted by some consultants for collecting a candidate database. Even telemarketers have started taking services from job portals to sell their products or they are purchasing candidate databases from some of consultants who don’t know the exact value and importance of recruitment industries,” MyHiringClub.com CEO Rajesh Kumar said.

Experts suggested that during these tough economic times, job-seekers should keep an open mind, develop different versions of their resume and utilise all resources available for getting a suitable job.