Indians believe their personal savings will increase in 6 months: Report

LinkedIn today shared the findings of the eighth edition of its Workforce Confidence Index. In its fortnightly report, which is based on the survey responses of 5,553 professionals in India, the company found out that working professionals in India remained optimistic about their personal savings.

The survey found out that nearly one in three professionals anticipating their personal savings to increase, while two in five expect their personal spending to stay the same in the next 6 months. The survey noted that as restrictions in lockdown slowly lift, small business employees are witnessing a lift in their overall individual confidence levels, which went up from over 49 points during June 15-28 to over 58 points between July 1-26, and confidence towards finances, which went up from over 35 points between June 15-28 to over 51 points in the past fortnight.

On a whole, the survey showed that India’s overall confidence is on a steady rise, with a composite score of over 53 points, which went up three points this time compared to the fortnight of June 15-28.

Interestingly, while on one hand, the confidence of India professionals remained high in terms of their personal finances, on the other hand, it faded away in case of job security.

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LinkedIn’s Workforce Confidence Index showed the employees working in small and medium businesses (SMBs) were less confident about holding on to their jobs than large enterprise workers with over 10,000 employees. “With low cash reserves and on-off lockdowns across several cities, business sustenance for SMBs continues to be a challenging affair. This is corroborative of the cycle of informality and limited productivity that SMBs across India continue to battle each day,” the report noted.

In addition to that, the survey showed that 46% of professionals from Recreation and Travel, and 39% of professionals from the consumer goods industry will return to work as soon as they are allowed to. However, professionals in software and IT firms said that they would continue to work from home for now. One in two software and IT employees said they will continue working remotely for now. Joining them in their cautious approach, professionals from transportation and logistics, and media and communications.

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Lastly, the survey found out that nearly 65% of employees from the software and IT industry, nearly 61% of employees from media and communications and nearly 61% of employees from transportation and logistics feel exposure to those not taking safety guidelines seriously is a serious concern with returning to the workplace. Nearly 33% of logistics employees and nearly 25% of employees working in the software and IT industry also say that lack of workplace sanitisation or cleanliness is dissuading them from going back to their offices.