Professionals in India are confident about their career progress despite growing uncertainties about the job market and financial future in the current environment, says a survey.
According to the latest LinkedIn Workforce Confidence Index, there has been a decline in India’s overall confidence, as the composite score dropped from 58 in December 2020 to 54 in January 2021.
The survey attributes this dip in optimism to the workforce's growing concerns about the status of the pandemic, surmounting expenses, and job availability in the present economic climate.
This professional uncertainty comes right after the year-end holiday season, when India's hiring rate dropped to 17 per cent year-over-year in December 2020, according to the latest edition of LinkedIn's Labour Market update.
The survey findings from January 1-29, based on responses of 1,752 professionals, noted that despite growing uncertainties 80 per cent professionals are confident about skilling opportunities, while 79 per cent are confident about the strength of their CVs.
"Skills are expected to become the new professional 'currency' this year as workers from different generations rely on learning new skills to future-proof their careers, at a time when industries continue to strengthen their remote operations," said Ashutosh Gupta, India Country Manager, LinkedIn.
Sector-wise, professionals from corporate services, healthcare, and software and IT industries are the most confident about the future of their employers.
"Employees from traditional sectors such as corporate services, healthcare, and software and IT industries are found to be most confident about the future of their employers, as companies continue to adopt newer technologies, and revamp their talent strategies.
"Reimagining employee skills and roles to welcome the post-pandemic ways of working will be crucial to building resilience for companies across sectors," Gupta said.
As per the survey, professionals from different generations have contrasting reasons to stay confident in these testing times.
While 92 per cent of Gen X (born between 1965 and 1980) and 98 per cent of Baby Boomers (born between 1946 to 1964) say the strength of their work experience and academic qualifications makes them more confident, 86 per cent of millennials (born between 1981 and 1996) state they are more inspired by opportunities to grow their skills and climb the ladder.
Further, 80 per cent of Gen Z (born between 1997 and 2015) professionals say that the likelihood of progressing their careers makes them more confident, the survey noted.