India's resilience as it prepares to embrace a new year and a potential vaccine drive is reflected in the optimism of its workers over the job market. Majority of them are upbeat about the chances of their pay rise next year, a global study by Indeed, has found.
The Indeed Global Survey measured the sentiment of 3,600 employers and 14,142 employees across the UK, US, Ireland, Australia, India, France, Germany, Belgium, Netherlands, Italy, Singapore, Mexico, Brazil and Canada between November 13 and November 20 this year. This included 251 employers and 1015 employees in India. The research was conducted by Censuswide.
64 per cent and 56 per cent Indian workers respectively said they were optimistic about their chances at better career opportunities, and a pay rise in 2021. Yet, 54 per cent said they would not pursue other job opportunities even if approached by other employers, some citing current workplace satisfaction, with most citing job insecurity.
Speaking of resilience, more than two in five employers said the decisions taken at the outset of the pandemic were effective in ensuring their business continuity. 66 per cent of employers also credited their workforce for pulling together and helping their company in this time of crisis.
Although forced into lockdown this year, Indian workers cited greater family time and inclusion/flexibility as positive side effects. Two in five workers said "more time with family" and "more opportunities to work from home" had the biggest impact on their personal circumstances in 2020. The study notes interestingly that both Indian employers and workers share polarised views about work-life balance and how they expect the future to pan out. 41 per cent of employers and 39 per cent employees said lines between work and life have permanently blurred, with another 40 per cent employers and employees saying lines are more separate than ever.
As Indian workers look to the future, a 59 per cent majority said they expected workplaces in 2021 to show greater consideration to hygiene, health and safety, with another 44 per cent citing mental wellbeing as the second most important consideration. On cue, one in two employers said that social distancing and hygiene measures would be a priority while implementing new workplace policies in 2021. Embracing hybrid work as the future of work, more than seven in 10 employers said they would increase work-from-home options, with another 59 per cent stating improved flexible work options as an important consideration while implementing new workplace policies.
Sashi Kumar, Managing Director, Indeed India, said, "COVID-19 disrupted economies of the world, but it also created an opportunity for the workforce and workplace to adapt, pivot and reimagine. This research shows that some of the changes undergone in 2020 will have a lasting impact, with both employers and workers eyeing greater flexibility in work methods and placing a new emphasis on health and hygiene. Our study also shows that employee wellbeing and work-life balance are now workplace imperatives, while skilling will be an important conversation for organisations to drive in 2021. As the world's second-largest labour market moves towards its economic recovery, how organisations redefine their talent strategies and workplace practices, will play a critical role in how India prepares for the future of work."
Signalling revival, platform data shows the number of job postings on Indeed India - a real-time measure of labour market activity in the country, has increased across industries. Growth in job postings was -18.5 per cent in November 2020, from -50 per cent in June-July 2020. Concurring with this sentiment while responding to their 2021 hiring plans in the study, 37 per cent of Indian employers said they planned to hire at higher volumes than before the pandemic, with another 17 per cent expecting to revert to pre-pandemic levels of hiring.
