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There is good news and bad news for employers on the attrition front. The good news is that unlike 2022 when the Great Resignation wave swept the work world, people are no longer switching jobs or quitting the workforce at a frenzied pace. But Gallup’s 2023 State of the Global Workplace report which surveyed 1,22,416 workers ages 15 and up globally, found that 59 per cent are quiet quitting while 18 per cent are loud quitting. Low engagement is a real problem among those who are staying on — with the latest coinage being “grumpy staying”. According to Gallup, low employee engagement costs the global economy $8.8 trillion and accounts for 9 per cent of global GDP.
Skills innovation challenge
The International Labour Organization (ILO) has launched a Skills Innovation Challenge in India. It has called for innovative solutions from non-profit organisations that support upgrading informal apprenticeships through digital transformation. Four winners will receive financial support ($20,000), technical guidance and global visibility for their innovation in skills development. In its call, ILO says the proposed solutions should have innovative dimensions. Also, solutions that are targeted at women, especially those in disadvantaged and remote groups, will receive bonus points. Applications have to be submitted by August 10, 2023.
Biz school grads have an advantage
An MBA matters in the job market. But it has to be an in-person one and not online. A new survey of corporate recruiters by the Graduate Management Admission Council, a global association representing leading business schools, that studies how employers view candidates of MBA and business degrees finds that they view communication, data analysis and strategy as the most important skills for business school graduates. Employers tend to believe that going to a B-School can offer talent an advantage over those without a management education. Employers continue to value talent from in-person programmes over those with online degrees or micro-credentials only.
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