On Tuesday, 16 June, LinkedIn has announced the findings of the fifth edition of the LinkedIn Workforce Confidence Index. This survey is based on responses of 2,903 professionals in India. It is found that employees working in large enterprises are more confident about the future of their employers as compared to their peers from mid-market and small and mid-size business (SMB) companies.
The Key Findings of LinkedIn Workforce Confidence Index Survey
- The survey noted that “41 percent of large enterprises (with over 10,000 workers) professionals think their companies will do better in the next 6 months, while 63 percent think their companies will be better off one year from now”. However, this confidence of professionals from larger enterprises fades at the individual level as their Individual Confidence Index (ICI) scores show that they are least optimistic about the future of their jobs, finances, and careers when compared to their SMB and mid-market peers.
- The survey finds that professionals working with Healthcare, Manufacturing & Corporate Service industries are least optimistic about personal finances. With India’s continued focus on social distancing, people are expected to control their discretionary spending, despite improved access to resources. Survey reaffirms this trend as 2 in 5 employees in manufacturing (38%), corporate services (40%) and healthcare (45%) will decrease personal spending in the next 6 months. Findings also show that 52% of healthcare, 48% of corporate services, and 41% of manufacturing professionals anticipate a decrease in investments in the next 6 months.
- 40% of the Indian workforce anticipates fewer jobs and interviews in the immediate future. As the Indian workforce navigates a shrinking job market, 2 in 5 (40%) professionals believe that the number of jobs and scheduled interviews will decrease in the next two weeks. The news comes as bittersweet for Indian professionals, as more than 1 in 3 Indian professionals state that they will now spend more time working on their resumes and preparing for interviews. Findings also show India’s consistent focus on upskilling as 67% of the Indian workforce state that they will continue to increase time spent online learning.
- Marketing, Project Management, and Engineering professionals confident about the effectiveness of remote working- Over the past three months, many organizations have shifted to a remote working model to circumvent the pandemic and ensure business continuity. This fortnight’s findings show that 3 in 5 (61%) Marketing professionals feel confident about being effective when working remotely. They are joined by more than half of Project Management (56%) and engineering (54%) professionals, who are also confident about the effectiveness of remote working. In contrast to this optimism, only 39% of HR, 36% of finance, and 31% of education professionals think they would be effective when working remotely.
The Workforce Confidence Index is a fortnightly pulse on the confidence of the Indian workforce. The recent survey is based on the responses of 2,903 professionals during May 4-31, and uses a scale from -100 to +100 to reflect professionals’ current sentiments about the jobs market, their financial status, career progression, and their expectations going forward.
