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1 in 3 Indian professionals optimistic about personal finances: LinkedIn

According to LinkedIn, the workforce optimism is shared mutually across generations, 40% of Generation X and 41% Millennial professionals believe that their earned income and personal spending will rise in the next six months

twitter-logoBusinessToday.In | November 12, 2020 | Updated 14:53 IST
1 in 3 Indian professionals optimistic about personal finances: LinkedIn
30% of all professionals are expecting an increase in their earned income

A LinkedIn survey has found out that 1 in 3 Indian professionals are becoming more and more optimistic about their personal finances. Out of the 2,022  Indian working professionals surveyed by LinkedIn as part of the 16th Edition of the Workforce Confidence Index, 30% are expecting an increase in their earned income, 35% are expecting an increase in their personal spending and 35% an increase in their recurring debt payments.

This edition of LinkedIn's Workforce Confidence Index indicates that India's overall workforce confidence continues to rise. The workforce confidence score for the month of October was +53, it has increased by 8 points from September which had a score of +45. According to LinkedIn, the workforce optimism is shared mutually across generations, 40% of Generation X and 41% Millennial professionals believe that their earned income and personal spending will rise in the next six months.

"In other positive trends, the Media & Communications industry has taken a big leap in overall workforce confidence, with a composite score of +40, up 13 points from +27 in October," read a LinkedIn press release. This confidence score is still lower than other major industries like Manufacturing (+60), Software & IT (+55), and Finance (+52).

LinkedIn Workforce Confidence Index also shows that 1 in 2 Generation X workers are concerned about slow growth in their careers while working remotely. While 1 in 3 feel that that they achieved less while working remotely during the COVID-19 pandemic. On the other hand, only 1 in 5 Generation Z workers are worried about achieving less during the pandemic while working from home. "This could be due to higher-tech literacy and smoother remote work adoption amongst Gen Z professionals," says a LinkedIn press release.

The survey also states that Generation Z workers are 20% more likely to be concerned about workplace sanitation as compared to Generation X and Millennials now that the lockdown restrictions are ending and more and more people are returning to their workplaces.

"Gen Z professionals are also 7% more likely to be concerned about access to protective tools and equipment than other generations. Overall, concerns around 'exposure to those who don't take guidelines seriously' and 'inadequate employer policies' are mutually shared across generations," said the press release.

Also Read: Have enough data for first interim analysis of Covid-19 vaccine: Moderna

Also Read: COVID-19 impact: OPEC forecasts slower global oil demand rebound in 2021

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