66 Pc Employees Ready To Take Pay Cut For Better Workplace: Report

(MENAFN- IANS) New Delhi, Dec 22 (IANS) Two‐thirds or 66 per cent of employees, contemplating leaving their workplace, would accept a pay cut in exchange for improved workplace conditions and greater flexibility, a report showed on Monday.

The report from Great Place To Work India found that "62 per cent of employees in typical workplaces are actively looking for new roles."

Among those considering to change workplace, 70 per cent expect to leave their current organisation within the next year.

"Findings from our study show that workplace culture can directly influence retention, leadership trust, and employees' readiness to exchange compensation for better workplace experiences," Balbir Singh, CEO, Great Place To Work.

Singh said that six in 10 employees who do not have a great workplace experience plan to leave, but the figure halved when employees experience a positive environment.

So, investing in culture and leadership capability is critical to business resilience and long-term performance, Singh added.

Breakdowns of specific workforce segment showed particularly high intent to switch in healthcare, biotech and pharmaceuticals, where 81 per cent of employees considering leaving expect to move within 12 months.

Among younger professionals, 76 per cent of Generation Z and 68 per cent of millennials plan a job change within the year, while 73 per cent of supervisors and frontline managers contemplating a switch expect to exit their roles in near term.

Around 87 per cent of employees thinking about leaving cited workplace culture as a key factor when evaluating potential employers, the report said.

Employees preparing to leave reported 20 per cent to 27 per cent lower satisfaction compared to those intending to stay. The dissatisfaction centred around fair pay, work-life balance, recognition, and management communication.

The report said that employees' intention to leave falls by 16 per cent with strong confidence in leadership and the intention falls by 12 per cent when employees see meaningful opportunities for innovation at work.

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