LinkedIn Report: 40% of professionals expect new jobs to increase in 2021
LinkedIn, world’s largest online professional network platform, released its 2020 survey report, the key findings are as below.
An average of 40% of Indian professionals expect an increase in the number of new jobs (up from 19% in April), and 53% expect their companies to do better in the next six months, going into 2021.
Indian economy is slowly opening up, and the hiring rate continues to recover steadily back to pre-Covid-19 levels with a 46% year-on-year growth as of October 2020, the study reveals.
The year 2020 was a disruptive year, and 2021 will help us tackle unforeseen challenges and prepare for new realities. Going forward, India will reimagine the future of work across 5 areas, specifically the workplace, careers, recruiting, business, and leadership styles.
In 2021, skills-first hiring will be a pivotal trend, the CHRO will play a critical role, the virtual collaboration will become stronger, and learning will be part of everyone’s job.
Remote working has also led to an increase in virtual events this year. LinkedIn witnessed a 4x growth in virtual events since March, and India is one of the top 5 countries creating virtual events on LinkedIn.
Given this swift emergence of virtual collaboration, professionals will welcome the new world of work by expanding their tech skills and remote work acumen.
2021 will also see Indians being more open to different career paths. Professionals from industries such as recreation and travel are 2.7x more likely to look for jobs in a different sector. Another interesting trend is the rise in ‘solo entrepreneurs’ in 2021 with people making the most out of the internet to launch their own ventures.
Virtual interviews are going to be the new standard in 2021 as virtual recruiting increased by 81% this year, and it will continue even post-Covid.
Diversity and inclusion to increase in 2021. This year with remote learning, there was an increase of 30% in April among female workforce participation which increased to 37% by the end of July. This was witnessed in industries such as services, education, healthcare, media, and communications.
LinkedIn also suggests companies practice “healthy doses of compassion to keep their employees at the centre of all strategies.” With 2020 being a year of uncertainty especially in the job market, the mental and emotional stress also increased among working professionals.
4 in 5 of unemployed professionals feel stressed, and only 1 in 3 Indians expect a pay hike. Companies are encouraged to increase activities such as talent acquisition, employee engagement, and learning & development for a “holistic employee experience.”
