A Blogpost from HCMC
When is it the right time for job change? The question is not based on astrology but on more practical considerations. December- February and May-July see a spike in voluntary attrition rates, that is employees changing jobs on their own. And, it doesn’t require too much of guesswork to find the reasons for high churn rates in these months.
Companies hitched to the USA norms, say IT companies announce salary hikes in October to November and other employers come out with incrementsand promotions during April.And, these months are also the time for school admissions. Spouses looking for relocation choose these months to change jobs.
If you’re looking for a better job, this roundup on current employment scenario helps you with ways to improve your career.
What were average increments?
Salary increases would be conservative. Industry-wise projections show that Pharma companies will do the best; salary hikes in this sector would be between 12% and 14%. Retailers will be tightfisted may dole out around 9% salary increases. In between this range, salary rise in IT sector would hover around 11%, in FMCG 10% and in auto companies nearly 10%. Of course, there are exceptions; one IT company increased salaries by just 4% and one Financial Services Company offered 38% rise in salary.
As such, if you have not received at least 10% increase, the industry recommends it is good to look for new job.
How many are changing jobs?
According to surveys by Human Capital Consulting Agencies, about 14% of employees will opt for new job in FY 2016-17 more people in ITeS (17%) and infrastructure (14%) are likely to change jobs in FY 2016-17.
These percentages are a critical element in switching jobs. You should assess the performance of your sector, domain, region, and of course your individual skills so that you can get a better employer and worthwhile increase. It is better to get professional input and advice from a good Human CapitalConsulting Company on this factor.
How to plan a job change?
Bruce Leeonce said that he fears a chap who has practiced one kick 10,000 times more than a man who has who practiced 10,000 kicks. Meaning is loud and clear. Plan and practice your moves particularly when doing something as serious as career move.
A professional career advisor can help you to plan correctly. Based on nationwide information on employment scenario, a Human Capital Consulting Companyanalyses your individual potential and guide you with information on companies looking for experienced performers. You’ll know in advance, salary range, location and job role and so on. And, if you so desire, they can perfect your resume and interview and soft skills.
Think about it seriously. For, if you change a job, it must be for a highly lucrative job with a better designation and satisfactory role.
Wish to know more about an agile Human Capital Consulting Company? Just contact your HR Business Partner HCMC.