80% Indian employees consider switching jobs for a pay rise

Bengaluru: Over 80 percent of employees consider changing their job in order to secure a pay rise, majority of them being in the 25-34 age group as per a survey by job site Indeed.

Over 50 percent of respondents planning to ask for a pay rise cited their good work as a reason they should be rewarded, while a significant faction of respondents stated that the rising cost of living, the extra responsibilities and extra hours of work put in by them should be compensated, the survey said.

Further, 93 percent of the respondents possibly or definitely plan to ask for a pay raise in the coming appraisal cycle for 2018, with women more likely to ask for a raise than men. 67 percent of all women respondents confirmed that they would be asking for a pay raise in comparison to 64 percent of men.

The survey pointed out that most employees are not satisfied with their current level of remuneration, highlighting that more women than men are dissatisfied with their current pay.

“Interestingly, while 20 percent of women respondents believe that their male counterparts are being paid more than them, only 9 percent of men feel their female peers are being paid less than them,” the survey said.

However, a number of respondents also stated that they would be willing to accept alternative benefits at work in place of a pay raise. Over 60 percent stated flexible work hours as an alternative to a pay hike, while 47 percent suggested an increase in annual leave. Close to 40 percent also cited paid parental leave as a benefit they would prefer, while 63 percent respondents asked for healthcare benefits instead of a pay raise. Interestingly, of the respondents who do not plan to ask for a pay raise, 43 percent claimed that their present salary was satisfactory.

“Millennial job seekers in particular - are today exploring highly aspirational career paths, and are not afraid of seeking greener pastures and newer experiences to further their professional goals and widen their horizons,” Sashi Kumar, Managing Director, Indeed India said.