Nearly 6 out of 10 managers looking to leave jobs; workplace benefits critical to retention: Report
Contents News/Article Date: 12th July 2023
Relating to which Act: The Indian Constitution grants the Central and state governments the powers to enact laws to protect the employees and foster a professional work environment. Based on the industry, nature of the work, number of employees in the company, location, and more, there are various legislations like the Industrial Disputes Act 1947 (ID Act), Factories Act 1948 (Factories Act), and Shops and Establishment Acts in relevant states (S&E Act).
Applicable to which State: Labour Law Acts and Rules and Judgements as are applicable to all States
Type: ET Bureau News Report
Pertains to: Establishments and workers
Relevance of this news: Karma Global is in the business of HR Services, Payroll, Outsourcing and Regulatory Compliances right from its inception in 2004 and since then, has brought in a lot of efficiencies and technological upgradations with experts on its roll, to ease the hassles of Payroll Processing, Temp Staffing, On-boarding, Employee Life Cycle, Statutory, Regulatory and Payroll compliances by providing customized solutions to all its elite clients.
Karma Global has set up its offices in UK, USA, UAE, Canada and South East Asia and is fully into providing solutions for workplace issues, employment law advice, immigration and negotiation, representation in employment tribunals and involvement in leading cases, addressing HR issues in line with Labour Laws, payroll, staffing and talent acquisition.
Karma Global is fully into staffing and Talent Acquisition since last 19 years, and this vertical is steered by Business Leader, Komal Vaidya, Karma Global since its inception in 2004.
And in this instance: India Inc.’s managers are largely dissatisfied with their current jobs. About 33% of managers are actively seeking to leave their current positions within the next six months and 59% within a year, a new survey has revealed.
Here’s the irony: about 81% of leaders surveyed in The Grand Manager and Workplace Report by upGrad-led online learning platform Harappa say that managers are indispensable to achieving financial objectives, deploying strategy and driving success. Yet, managers aren’t happy.
Subject: Nearly 6 out of 10 managers looking to leave jobs; workplace benefits critical to retention: Report
Appended is the complete news item
Nearly 6 out of 10 managers looking to leave jobs; workplace benefits critical to retention: Report
Source: ET Bureau
India Inc.’s managers are largely dissatisfied with their current jobs. About 33% of managers are actively seeking to leave their current positions within the next six months and 59% within a year, a new survey has revealed.
Here’s the irony: about 81% of leaders surveyed in The Grand Manager and Workplace Report by upGrad-led online learning platform Harappa say that managers are indispensable to achieving financial objectives, deploying strategy and driving success. Yet, managers aren’t happy.
The main reasons contributing to this frustration are career stagnation (73%), lack of recognition (71%), and feeling overworked (68%), says the survey that draws insights from over 3800 managers (including early and seasoned) in Corporate India, and focuses on the aspirations, burdens, and challenges faced by managers in India.
Additionally, 250 individual contributors, 250 HR professional and 500 senior leaders were also surveyed.
81% of managers look at monetary incentives as key to staying motivated, the report found. About 57% also seek autonomy to make decisions at the workplace and 52% would like public recognition for the work they do. Other wants, lower in the pecking order, include purposeful work, career advancement opportunities, building networks and impacting lives. 74% managers say they want to be trained to perform in this role.
Early managers feel frustrated about earning reportee trust (86%), while individual contributors feel underappreciated (79%) by their managers. Increased burnout and managing different workstyles are challenges faced by both early as well as seasoned managers. Experienced managers also struggle to achieve desired outcomes (66%).
HR professionals and senior leaders surveyed were also found to be ambivalent about managers – even where they have nurtured, hired and promoted them. Less than half the HR professionals surveyed felt that managers lived up to the potential they first saw; less than 30% of senior leaders feel the same way. Moreover, 35% senior leaders feel that attrition is directly linked to dysfunctional managers.
“On one hand, the survey shines a spotlight on the enduring tumultuousness of the managerial journey, the other half demonstrates the callous disregard for individuals who hold the key to our future leadership. Over the last few years, in all the conversations around the workplace, the greatest villains have been the mangers. People forget how challenging it is to lead people. If there’s so much conversation around the manager, we need to understand the manager better. This report, in a sense, is a call to employers also that even if people keep blaming managers they are struggling as well. Managers can and must be trained,” said Shreyasi Singh, Founder & CEO, Harappa.
Earlier this year, Harappa unveiled The Grand Women & Workplace Report which showcased insights into working women’s ambitions, career interferences and professional realities.
I see this as a clarion call, urging corporates to prioritise their workforce over business metrics. There’s a reskilling revolution upon us and unless companies value the importance of L&D and adapt to a non-linear mind-set, building a resilient business looks uncertain. Companies don’t need to go out and augment people and train; rather they need to retain existing talent and prepare a Superforce that understands modern-day work intricacies and drives business impact,” said Ronnie Screwvala, Co-founder & chairperson, upGrad in a statement.