A majority of India's working class has shown optimism about the long-term economic stability amid the coronavirus outbreak in the country. Nearly half of Indian professionals are confident about achieving financial betterment in the next six months, according to LinkedIn's Workforce Confidence Index report.
Around 72 per cent Indians are confident that their companies will bounce back in the next two years. However, those surveyed are wary about jobs' availability, the company's financial situation and the impact on incomes and personal savings in the short-term.
During the lockdown, 25 per cent Indians have reported a decrease in their incomes; 39 per cent reported a dip in personal savings; 42 per cent in personal spending; and 31 per cent in their investments. The Workforce Confidence Index also highlighted that 39 per cent job-seekers believe there will be fewer opportunities available.
"The survey revealed that 64 per cent of job-seekers will increase their time spent on job search in the next two weeks, while more than half will increase their time spent building their resumes," according to LinkedIn. On the contrary, self-employed individuals have expressed lower confidence in job stability and financial betterment.
Moreover, 63 per cent job-seekers, 61 per cent of self-employed professionals and 65 per cent of full-time employees said they would increase their time spent in online learning during the lockdown.
"Based on the inaugural findings of the Workforce Confidence Index, 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," Ashutosh Gupta, India Country Manager, LinkedIn said.
On companies offering health and emotional services to employees, the survey found 55 per cent of respondents saying they were offered remote working options. Only 25 per cent have flexible or part-time working hours, the survey added. Findings showed that only 24 per cent of Indian professionals were receiving support from their companies for physical health and 22 per cent for emotional wellbeing.
The LinkedIn Index was based on an online survey of more than 1,000 members of the website.