As per the latest edition of the LinkedIn Workforce Confidence Index, which surveyed 2,903 professionals across India, March, April and May saw many companies embracing the work-from-home model to ensure business continuity. About 61 per cent of marketing professionals were confident that they could be as effective working remotely as in office. About 56 per cent of project management professionals and 54 per cent engineering professionals, also expressed confidence in the effectiveness of remote working. When it came to human resources, however, only 39 per cent professionals were confident about the effectiveness of remote working. Similarly, only 36 per cent of finance workers and 31 per cent of those from the education sector were confident about the effectiveness of remote working.
The report also revealed that the professionals working for large enterprises seemed optimistic about their employers’ future. While 63 per cent felt their employers would recover and be better off in a year’s time, 41 per cent felt their enterprises would do well in the next six months. However, this same level of confidence did not exist when it came to their jobs, careers and personal finances.
This fortnightly survey studies the pulse of Indian professionals, and in the May 4 to 31 fortnight, it appears that on the whole, the country’s executives were confident about the future of the enterprises they were working for. However, the confidence level in terms of jobs, had begun to dip. Professionals employed in the healthcare, manufacturing and corporate service industries seemed inclined to cut down on personal spending and personal investments in the next six months.
The survey that covered executives from different professional backgrounds, attempted to study their confidence in their employers’ outlook, as well as their take on remote working and state of personal finances.
The report reveals that, professionals in enterprises with over 10,000 workers seemed more confident about the future of their employers, with a confidence in employer index (CIE) score of +24. The employees from mid-market and SMB companies were less confident, with a CIE score of +15 and +16, respectively.
While professionals working for large enterprises were more optimistic about their companies performing better, their confidence level was low when it came to their own jobs. About 41 per cent enterprise professionals felt their companies would do better in the next 6 months, while 63 per cent felt their companies would pick up in a year’s time. However, with an individual confidence index (ICI) score of +42, enterprise professionals were least confident about the future of their jobs, careers and finances. Their SMB counterparts, on the other hand, had a higher ICI score of +51, and the mid-market professionals had a score of +50.
About 38 per cent of those working in the manufacturing space, 40 per cent of those employed in corporate service and 45 per cent of those employed in the healthcare sector, anticipated cutting down their personal spending in the next six months.
Also, 52 per cent of employees from healthchare, 48 per cent from corporate services and 41 per cent from manufacturing saw themselves reducing their investments in the next six months.
A significant 40 per cent of the workforce in the country expected an immediate fall in the number of jobs and interviews. Interestingly, more than one in three professionals admitted that they would be devoting more time to updating their resumes, and preparing for interviews. A good 67 per cent stated that they would go on spending more time on learning online.