The CMIE Report on Employment and Growing Trend of Resignations.

The CMIE report, (Center for Monitoring Indian Economy) released its report last week. The highlight of the report was the declining unemployment rate in India. The Unemployment rate fell to 7.6 per cent in March, compared to 8.2 in February. 

The CMIE report also brought out that, a total of 35 million people are unemployed in India and of the total 35 million people unemployed, 17 million are those who though willing to work are not actively seeking it, it added. The report however does not provide a complete picture of a growing trend of resignation in the private sector. 

There has been a growing trend to shuffle across unfamiliar sectors post-pandemic. This trend in India is in accordance with the global trend worldwide of resignation. The trend has affected the IT Sector in India largely. India's leading software giants are seeing resignation in considerable numbers. The TCS (Tata Consultancy Services) reported a 15.3% resignation in its third-quarter on the current financial year plan.
 The resignation rate in Infosys is reportedly the highest among the three IT giants. The voluntary resignation increased to 25.5 % from 20.1 % in the previous quarter. This trend has seen tech firms’ talent acquisition drives on large scale. 

A September 2021 survey conducted by Amazon India suggested that over 50% of job-seekers are looking for opportunities in sectors or industries where they have no or little experience. 

Many studies have indicated that pandemic is the single biggest factor behind the resignation. Reports bring out that, many people are exhausted and burned out after working too hard during Covid 19. Further, there is a growing awareness among employees about Mental Health Issues. 

Reports suggest that many are reconsidering their career choices based on the passion they want to follow. Global surveys also suggest that employees now take personal life, and happiness more seriously.