As 2020 comes to a close, LinkedIn, the world's largest online professional network, released key survey and platform data highlighting the sentiment of the Indian workforce. LinkedIn year-end data shows that despite experiencing radical changes in the ‘way we work’, India has remained cautiously optimistic and resilient in the face of uncertainty, and overall confidence scores remained steady between +50 and +57 from April to November. Findings show that 2 in 5 (40%) Indian professionals expect an increase in the number of new jobs (up from 19% in April), and 1 in 2 (53%) expect their companies to do better in the next 6 months, going into 2021.
In 2020, online learning and digital skills took centre stage and Indian professionals pivoted to upskill themselves and stay productive. LinkedIn data states that the average number of monthly learning hours on LinkedIn Learning increased 3X from April to December 2020, compared to pre-Covid months of January and February. 3 in 5 (57%) professionals say they will increase their time spent in online learning going forward, as per LinkedIn’s year-end findings.
However, working in isolation and navigating a tough job market over the past few months has adversely affected India’s emotional well-being and financial outlook. As of November 2020, 4 in 5 (78%) unemployed professionals feel stressed, and only 1 in 3 (32%) Indians expect their incomes to increase, heading into the New Year. This holiday season, 3 in 5 (61%) Indian professionals say they will take less time off, while about 9 in 10 (87%) say they will spend equal or more time working at their primary jobs this year-end.
Meanwhile, when it came to most globally in-demand jobs, Customer service specialist, Data analyst, Digital marketing specialist, Financial analyst, and Graphic designer emerged as the top five jobs.
While Python (Programming Language), Machine Learning, Data Structures, Digital Marketing, and HTML 5 were the fastest-growing skills in 2020.
Talking about the year gone by and the future of work in 2021, Ashutosh Gupta, India Country Manager, Linkedin said, “The year 2020 was a disruptive year, and 2021 will help us tackle unforeseen challenges and prepare for new realities. Going forward, India will reimagine the future of work across 5 areas, specifically the workplace, careers, recruiting, business, and leadership styles. In 2021, skills-first hiring will be a pivotal trend, the CHRO will play a critical role, virtual collaboration will become stronger, and learning will be part of everyone’s job. At LinkedIn, we will continue to help professionals navigate these changes and we will stay committed to helping members get closer to opportunities.”
This optimism for jobs also comes at a time when India’s economy is slowly opening up, and the hiring rate continues to recover steadily back to Pre-COVID levels with a 46% y-o-y growth as of October 2020. With cases dipping and more sectors making efforts to recover, the optimism is not unfounded.