LinkedIn's Workforce Confidence Index in India reveals a sense of cautious optimism about the future opportunities with a composite score of plus 53 for the week of April 1 to 7.
As per the survey, the respondents feel confident about long-term outlook but are troubled with overarching concerns in the short-term regarding availability of jobs, company’s financial situation, and the impact of these factors on their incomes and personal savings.
The Workforce Confidence Index is based on an online survey of more than 1,000 members and uses a scale from minus 100 to plus 100 to reflect professionals' current sentiments about the jobs market, their financial status, career progression and their expectations going forward.
Interestingly, Indians are also optimistic about long-term economic stability, as findings show that 72 per cent of those surveyed are confident about their organisations bouncing back in the next two years.
The survey shows 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 shft their focus on learning. This showcases the sense of determination among Indian professionals to navigate through these challenging times.
The report also talked about the coronavirus pandemic's impact on the personal finances of professionals where a quarter of the workforce (25 per cent) 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 the number of investments.
"Based on the findings, 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. We believe that exercising healthy doses of the 3Cs -- confidence, caution and compassion -- can help us navigate these challenging times," said Ashutosh Gupta, India Country Manager, LinkedIn.
"As we live through a pandemic, the perception of our workforce has become even more crucial to understand, and the bi-weekly index will help us keep a pulse check on the confidence of India's professional community," he added.
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