Indian professionals feel confident about long-term employment outlook, but are troubled with overarching concerns in the short-term regarding availability of jobs, company’s financial situation, and the impact on income and personal savings, a survey said on Monday.
LinkedIn’s inaugural Workforce Confidence Index in India shows a sense of cautious optimism about the future with a composite score of (+) 53 for the week of April 1-7.
The survey reveals that nearly half of Indian professionals are confident about achieving financial betterment in the next six months, while three out of five professionals believe they will achieve career progression in the next year.
Indians are also optimistic about long-term economic stability, as findings show that 72 per cent of professionals are confident about their companies bouncing back in the next two years. The survey reveals that while 42 per cent of Indian professionals will increase their time spent in job search in the next two weeks, 64 per cent will increase their focus on learning.
“Based on the inaugural findings of the Workforce Confidence Index, it is reassuring to see a majority of India’s workforce remain confident about long-term outlook, and determined in the short-term to upskill, pivot, and adapt,” said Ashutosh Gupta, India Country Manager, LinkedIn.
We believe that exercising healthy doses of the 3Cs – confidence, caution, and compassion – can help us navigate these challenging times, he added.
The survey also highlighted the COVID-19 pandemic”s impact on the personal finances of Indian professionals, where a quarter of the Indian workforce (25 per cent) has reported a decrease in their incomes, while 39 per cent reported a dip in personal savings, 42 per cent in personal spending, and 31 per cent in number of investments.
As professionals continue to work from home amid lockdown, Indian professionals are focused on learning new skills to stay productive and unlock new opportunities.
The survey says that 63 per cent of active job seekers, 65 per cent of full-time employees, and 61 per cent of self-employed professionals will increase their time spent in online learning over the next 2 weeks.
Senior management executives, however, showcased caution about future outlook. Findings also show that 33 per cent of senior executives feel their companies will face tougher times in the next six months, and 69 per cent are confident of their companies” progress in the next two years.
As Indian professionals cope with limited access to wellness programs and flexible working hours in the present, many remain optimistic for better access to these benefits in the near future, the survey noted.