Mr S Y Siddiqui
Chairman, CII Northern Region HR & IR Subcommittee &
Chief Mentor, Maruti Suzuki India Limited
Maruti Suzuki India Limited
THe Kick Off:
The COVID Pandemic changed people to take a hard look at their lives and re-evaluate their careers. It forced
people to see the unpredictability of life and led people to reflect on what really matters to them. Many
realized that what they thought was a priority was not actually. Perceptions around their work life underwent
a big change. The Legacy of the Covid Pandemic proved to be relatively brief. Life is too short to stick to wrong
careers with work life overload. People have realized Work Life Balance is more important. People are now
calling it a Workforce Revolution or a New-Found Respect for Life.
At the same time the Digital Era got accelerated by default leading to a new world of possibilities. The
emergence of Start-Up companies was another important shift with many racing to the Unicorn status &
offering a positive rub off to many Start Ups.
In my thinking THE GREAT RESIGNATION has been a US Specific trend but with a global learning and relevant
for HR & Business Leaders. In India though the Great Resignation trend has been relatively milder and Sector
specific but its been very much felt by Corporates as a concern which may catch up in future. In fact, attritions
in India are being seen even across sectors e.g. from Auto to Tech Companies/Start Ups.
Factors that are driving the Great Resignation:
Post Covid, Economy is opening with Tech Boom & Start Up Cos offering exciting new job openings. The trend
of upskilling too is catching up to better career prospects hence mobility of professionals is higher than
normal. Several people who worked remotely at start of the pandemic have been unwilling to give up their
lifestyle. Since the start of pandemic, long work weeks have become more embedded in business culture. The
boundary between work and personal life has shrunk. As stated above, the Work Life Balance has become
more critical to people post the Covid pandemic.
From Great Resignation To Great Retention ~ The Way Forward
We are now seeing a big shift from The Great-Resignation to The Great-Retention with companies focusing on
doing what it takes to keep talent. Compensation & Benefits are exciting but if a company has to survive the
Great Resignation, it must deep dive into an employee’s mind and see what they really want. To attract and
retain talent, employers will need to demonstrate commitment to their workforce by enabling employees to
pursue and realize their professional & personal aspirations .
What should Companies do?
with high Empathy, Builder & Groomer of People and Authentic Leadership with simplicity & Modesty.
With so many recent ideas about culture, let me offer a simple playbook for today’s culture agenda to help business and HR leaders navigate the culture issue: Why culture matters, what culture means, and how to create or change a culture.
Business Associations have been known for their advocacy of enlightened business needs with the Government. Increasingly, however, their contribution to upgrading the competitive advantage of their members is becoming more important.