Indian professionals are showing "increasing optimism" towards their personal finances and expect earned income as well as personal spending to increase, according to a new LinkedIn survey.
The 16th edition of the Workforce Confidence Index found the country's overall workforce confidence continues to rise steadily with a composite score of 53, up 8 points from 45 in September. About one in three professionals are expecting an increase in their earned income (30%), personal spending (35%), and recurring debt payments (33%).
This optimism is shared mutually across generations as findings show that two in five Gen X (40%) and millennial (41%) professionals expect their earned income and personal spending to rise in the next six months, the survey noted.
Moreover, most Indian professionals, across generations, were concerned about their career progression while working remotely during the coronavirus pandemic. The survey found that 45% of Gen X professionals are concerned about slow career progression while working remotely, while 31% feel they achieve less when working remotely.
In contrast, only 20% of older Gen Z professionals are worried about achieving less while working remotely in the pandemic. This could be due to higher level of tech literacy and smoother remote work adoption amongst Gen Z professionals.
The media and communications industry has taken a big leap in overall workforce confidence, with a composite score of +40, up 13 points from October. However, their confidence score is still low when compared to other industries like manufacturing (+60), software and IT (+55), and finance (+52).
As lockdown restrictions continue to ease across India and professionals slowly return to work, many are still concerned about being safe when working on-site in the current scenario. About half of healthcare (56%) and manufacturing (49%) professionals say they will mostly or only work on-site, while two in five education (39%) and finance (44%) professionals anticipate being in a workplace that offers both physical and remote models after the pandemic.
The survey is based on responses of 2,022 Indian professionals, for the weeks of 5 October to 1 November.
Sourced from ETBrandEquity, Live Mint