Professionals grow optimistic about their finances, says LinkedIn Workforce Confidence Index

LinkedIn’s latest edition of Workforce Confidence Index highlights a return of optimism among Indian professionals.

1 in 3 Indian professionals grow optimistic (Pixabay)

LinkedIn on Thursday released findings of its 16th edition of Workforce Confidence Index. According to the survey, India's financial outlook is improving with Gen X and millennial professionals are expecting their income and spending to increase. The survey is based on responses of 2,022 professionals for the weeks of October 5-November 1, the pre-festival season.

According to the LinkedIn study, India's overall workforce confidence has continued to improve, at a steady pace. The study gives the confidence a score of +53, up by 8 points from +45 in September. The rise in confidence is based on a rising optimism of Indian professionals towards their finances. The study says 1 in 3 professionals hoping for a growth in their income.

“This optimism is shared mutually across generations as findings show 2 in 5 Gen X (40%) and Millennial (41%) professionals expect their earned income and personal spending to rise in the next six months,” says the study.

“Most Indian professionals, across generations, enter the festive season concerned about their career progression while working remotely in the pandemic. Findings show that 1 in 2 (45%) Gen X professionals are concerned about slow career progression while working remotely, while 1 in 3 (31%) feel they achieve less when working remotely. In stark contrast, only 1 in 5 (20%) Gen Z professionals are worried about achieving less while working remotely in the pandemic; 10% fewer than both Gen X (29%) and Millennial (21%) professionals. This could be due to higher-tech literacy and smoother remote work adoption amongst Gen Z professionals,” it added.

The study pointed out that many professionals are still concerned about their safety when working on-site in the current situation. Gen Z professionals are 20% more likely to be worried about workplace sanitisation than Gen X and millennials. Gen Z professionals are also 7% more likely to be concerned about access to protective tools and equipment than other generations.

In the post-pandemic future, about 1 in 2 healthcare (56%) and manufacturing (49%) professionals said they would mostly or only work on-site, while 2 in 5 education (39%) and finance (44%) professionals anticipate being in a workplace that offers both physical and remote models, after the pandemic.