ASSOCHAM – Page 5 – The Metrognome

A majority of employees are quitting their jobs because of bad bosses; workers from 18 sectors participate in national survey.

by The Diarist | thediarist@themetrognome.in

You’re not overreacting if you’re thinking of doing your boss a grievous injury. Or at the very least, thinking of quitting your current job for another, where the boss won’t be an ogre. You can take heart in knowing that many in the country agree with you on this.

In a nationwide survey conducted by the Associated Chambers of Commerce (ASSOCHAM) in the Indian metros of Mumbai, Delhi, Kolkata and Chennai, and other major cities like Ahmedabad, Hyderabad, Pune, Chandigarh and Dehradun, and with over 200 employees from the corporate sector interviewed from each survey centre, it emerged that “69 per cent of corporate employees who quit their jobs complained about the indifferent attitude of their bosses or immediate supervisor while the remaining moved to a new position in the same company.” The survey was released to coincide with Boss Day on October 12.

As per a release from ASSOCHAM, the survey targeted corporate employees from 18 broad sectors, with the maximum share contributed by employees from the IT/ITes sector (17 per cent).

Employees working in engineering and telecom sector contributed 9 per cent and 8 per cent respectively in the questionnaire. Nearly 6 per cent of the employees belonged from market research/KPO and media background each.

Around 42 per cent of the employees surveyed claimed to have been a victim of workplace bullying, and almost 56 per cent said that they were currently being bullied by their bosses. The survey also found public sector workers were most likely to experience workplace bullying (48 per cent), followed by PSU (37 per cent) and others (15 per cent). Around 62 per cent of the respondents said that they have an abusive boss, who indulges in such behaviours as humiliating and insulting employees or isolating them from co-workers.

The survey also revealed that bad bosses also led to employees’ health problems. Most of the respondents said they were moving jobs because of management, supervisors or the general work environment of the company (56 per cent), career advancement or promotional opportunities (24 per cent), while 12 per cent said that they “felt like a misfit” in their current organisation. Much smaller percentages of respondents claimed to have quit because of flexibility or scheduling (6 per cent) or job security (2 per cent).

(Picture courtesy www.mensfitness.com)

Inflation hits spending. Hard.

Middle income groups slash their spending by 65 per cent to manage their monthly household budgets, and to buy necessities.

By The Diarist | thediarist@themetrognome.in

Rising inflation has dented our household budgets, and how – Associated Chamber of Commerce (ASSOCHAM) contends that the country’s middle and lower income groups have cut their spending by a whopping 65 per cent, on such heads as entertainment, vacations, electronics, real estate, automobiles, shopping, and eating out. ASSOCHAM reveals that the middle income groups, especially, are curtailing spending to be able to finance their children’s education and run their homes well, both of which are eating into their savings.

The survey was conducted over a period of two months, beginning March to April 2012 in major metros and cities like Delhi, Mumbai, Kolkata, Chennai, Ahmedabad, Hyderabad, Pune, Chandigarh, and Dehradun. A little over 200 employees were selected from each city, on an average. The report reads, “Delhi ranks first in curtailing their expenses, followed by Mumbai (at no. 2), Ahmedabad (at no. 3) Chandigarh (4), Kolkata (5), Chennai (6) and Dehradun (7), says DS Rawat, Secretary General ASSOCHAM.”

Key findings from the survey:

– Many middle income and lower income groups indicated that they are finding ways to cut back spending now or indicating they will do so in the future. Around 69 per cent of the respondents have cut down on their saving rate.

– Nearly half of the middle income group either avoid shopping altogether, or shop only for those things that are absolutely needed. Moreover, 76 per cent said that their shopping has been restricted to only necessities.

– About 88 per cent of respondents said that they have cut back on everyday expenses. They save money by avoiding outside food, car-pooling, cutting down on gas and use of electricity.

– Inflation has also impacted the urban male and females’ personal expenses. The urban male used to spend Rs 500 to Rs 2,000 per month on drinks, cigarettes, gutkha, paan etc. which has come down by 20 per cent due to upward inflation. On the other hand, urban women now spend around Rs 500 to Rs 1000 per month on cosmetics and beauty treatments, which was earlier pegged at Rs 1,500 to Rs 2,000.

– One in four said they are going to try to increase their income to try to stay financially afloat, such as switching to a better-paid job, taking a second job option or working overtime hours.

(All figures are sourced from ASSOCHAM. Picture courtesy www.divdevarkhyani.blogspot.com)