Thursday, 24 December 2020

INDIANS MOST OPTIMISTIC IN APAC ABOUT JOB AND PAY RISE

 INDIANS MOST OPTIMISTIC IN APAC ABOUT JOB AND PAY RISE PROSPECTS IN 2021: INDEED GLOBAL SURVEY

  • Indian workers (56%) are more than twice as positive about their chances of getting a pay rise next year compared to their counterparts in Australia (20%) and Singapore (23%)
  • Over 1 in 3 Indian workers are very optimistic about their career prospects in 2021, the highest in all countries surveyed
  • Indian workers deem workplace safety (59%) and employee wellbeing (44%) as the two most important considerations for the 2021 workplace

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 whom are upbeat about the chances of their pay rise next year, a global study by Indeed, the world’s number one job site, has found.

64% and 56% Indian workers respectively said they were optimistic about their chances at better career opportunities, and a pay rise in 2021. Yet, 54% 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 2 in 5 employers said the decisions taken at the outset of the pandemic were effective in ensuring their business continuity. 66% 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. 2 in 5 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 polarized views about work-life balance and how they expect the future to pan out. 41% employers and 39% employees said lines between work and life have permanently blurred, with another 40% employers and employees saying lines are more separate than ever.

As Indian workers look to the future, a 59% majority said they expected workplaces in 2021 to show greater consideration to hygiene, health and safety, with another 44% citing mental wellbeing as the second most important consideration. On cue, 1 in 2 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 7 in 10 employers said they would increase work-from-home options, with another 59% 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 organizations to drive in 2021. As the world’s second largest labour market moves towards its economic recovery, how organizations redefine their talent strategies and workplace practices, will play a critical role in how India prepares for the future of work.”

Signaling revival, platform data shows the number of job postings on Indeed India – a real time measure of labor market activity in the country, has increased across industries. Growth in job postings was -18.5% in November 2020, from -50% in June-July 2020. Concurring with this sentiment while responding to their 2021 hiring plans in the study, 37% Indian employers said they planned to hire at higher volumes than before the pandemic, with another 17% expecting to revert to pre-pandemic levels of hiring.

The Indeed Global Survey measured the sentiment of 3600 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.

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