Today professionals in India are changing jobs and careers more than ever before and the days of a linear career path or life-long employment at a company are no longer the norm.
LinkedIn’s new Career Pathways survey finds that one in three Indian professionals feel like they are ‘career sleepwalking’ - they feel stagnant as though they are on a treadmill going nowhere, and 57% would consider career is pivoting to build a more fulfilling career. However, an impact on their pay packets and designation is deterring close to 51% of professionals from making the switch.
Today’s professional places greater value on doing what they love as a career choice (73%), followed by a healthy work-life balance (70%), a job that makes them a lot of money (57%), and finally 56% of respondents say that a job that provides learning and growth opportunities is also important.
While 62% professionals had chosen their careers because it is something they have always wanted to do, 53% chose their careers as it fulfills them, and only 38% say they chose it because it makes them a lot of money.
“The Career Pathways India survey has surfaced some interesting insights -- the highlight being that today’s professionals want a lot more fulfillment from their jobs and careers, and wish to be empowered to change roles and sectors. The LinkedIn platform is therefore perfectly poised to help the modern day Indian professional build and access a strong professional network, and find diverse economic opportunity and fulfillment,” said Mahesh Narayanan, Country Head - India, LinkedIn.
Younger professionals more open to change; 61% Millennials would consider changing careers.
In terms of job stickiness, professionals are job-hopping more than ever before. One in three Millennials (33%) has had two jobs within the last five years, compared to one in five Gen X respondents (20%). Half of Gen Z respondents (50%) were in their last job only for six months to one year, and 28% of Gen Z respondents are likely to change their job in less than a year, the report says.
While job hopping amongst professionals has increased, the motivations for changing careers and jobs is different across generations. Over a third of Gen X respondents value the presence of a clear career trajectory within their current job, compared to just under one in five Baby Boomer respondents (19%).
Younger professionals are much more open to change and are discussing the change with their managers, especially if it gives them more opportunity for learning and development. Nearly 61% of Millennials say they would consider switching careers compared to only 18% of Baby Boomers, and two in five (41%) Millennials say their current job makes them feel stressed, they can’t be themselves or they’re glad to be away from it.
Millennials at 44.91% showed the highest likelihood of changing companies while considering a career change, compared to 34.19% of Gen Z’ers, who are more likely to switch job functions while considering a career change. Overall, across generations, 44% of respondents said they would consider changing companies versus 30% respondents who would consider switching job functions (e.g. marketing to product management).
The survey engaged more than 5,000 full-time professionals across 11 cities in India, on how career paths are rapidly changing, what motivates different generations to stay in their current job, why they are increasingly keen on pivoting functions and industries, and what they believe will take them closer to their dream job.