The job market in India for high-skilled jobs is on steroids right now. BharatPe, a fintech start-up, is offering BMW bikes as joining bonuses to tech professionals. Highly skilled employees are holding multiple job offers and making employers compete with each other on packages.
I personally saw many professionals switching jobs in both tech & non-tech roles with increments going up to 50-100% for tech roles and 30-70% for non-tech roles. If we hear what experts are saying, the market might still be like this for 1-2 years.
But why is this happening?
Because The Great Resignation along with the pandemic, has opened up new avenues and opportunities for everybody. Plus now global companies have realised they can hire great talent from developing countries and pay them a fraction of what they would have to pay to domestic talent. Here are three ways in which you can use the Great Resignation to your advantage.
3 Ways To Take Advantage Of The Great Resignation
Let’s see how you can use the new opportunities for your own career advancement:
- Switching Jobs:
In case you’re in a toxic workplace or not happy where you are. You can switch to better companies even across domains as there is an acute shortage of good talent.
Here’s a step by step process:
A) The first step is to map your career to figure out where you want to go. So mapping your career track and additional skills you need.
B) After mapping you can start researching the market salaries for your current job role and opportunities available via portals like Glassdoor, LinkedIn, IIMJobs etc.
C) Update your resume and connect with experts to take mentorships and mocks to prepare.
D) After you’re ready start applying on job portals and find people in your network who can refer you.
- Renegotiating Salaries:
If you’re happy where you are but feel underpaid, you can start applying and use the offers to negotiate with the HR managers to give you a raise.
Here’s a step by step process:
A)Research to find out market salaries in your domain for your current role. Use portals like Glassdoor & LinkedIn to find market salaries. You can also talk to professionals at other companies and ask them how much salary they are getting.
B) Update your resume and take a few mock interviews.
C) Start applying to get competitive offers.
D) Use offers to negotiate with your manager & the HR team.
If you can prove that you’re underpaid as compared to market standards you can convince your manager to raise your salary.
But be careful, as a lot of it depends on your relationship with your HR and manager.
- Changing Career Track:
With the rise in online learning, you can learn new skills from anywhere. With start-ups like InsideIIM, Kraftshala, UpGrad, Great Learning offering up-skilling courses for working professionals- you can now up-skill and even change your career track.
Professionals are able to fast-track their growth by taking up advanced courses. Non-tech professionals are able to switch to tech roles more easily and similarly, tech professionals are able to transition to management roles.
Here’s a step by step process:
A) Research the right career track for yourself. This can be done via talking to mentors & researching online.
B) After you have decided to pursue a new career track – map out the skills required to create a list of skills that you lack.
C) From the list of skills, find the best online course type suited for your journey like Online MBA, Self-Paced Courses, Bootcamps etc.
D) Enrol and complete the course. Update your resume and give mocks to prepare.
E) After you’re ready start applying on job portals and find people in your network who can refer you.
Conclusion
The pandemic has accelerated the culture of remote work resulting in massive opportunities for everybody. You can have permanent work from home and work with global companies sitting anywhere in the world. Such a shift only happens once a decade. So if you’re someone who has been thinking about making a career move, now could be a very good time to take advantage of the Great Resignation.
Hope you enjoyed the article, you can read my analysis on The Great Resignation here. Do let me know your thoughts in the comment section below.
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