In 2021, about 40% Indian professionals expect an increase in the number of new jobs, up from 19% in April, and 53% expect their companies to do better in the next 6 months.
New Delhi: Indian professionals remain cautiously optimistic about the next year even though uncertainty caused by the pandemic remains. In 2021, about 40% Indian professionals expect an increase in the number of new jobs, up from 19% in April, and 53% expect their companies to do better in the next six months. This optimism 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% year-on-year growth as of October 2020, according to year-end data shared by professional networking platform LinkedIn.
However, working in isolation and navigating a tough job market over the past few months has adversely affected the emotional well-being and financial outlook of many people. As of November 2020, 78% unemployed professionals feel stressed, and only 32% Indians expect their incomes to increase, heading into the New Year. About 61% Indian professionals said they will take less time off, while about 87% said they will spend equal or more time working at their primary jobs this year-end.
The coming year may also see Indians re-imagining the future of work across the workplace, careers, recruiting, business, and leadership.
Flexible work policies will play a dominant role in defining a positive work culture in the future, be it location, work hours or ways of working. Offices will transform into spaces where professionals will gather for leadership and personal development, or simply to collaborate and congregate. Just as hybrid workforce models are set to become the standard, a hybrid hiring process that combines virtual and in-person elements will become the norm.
Additionally, jobseekers will continue pivoting their careers to work in different industries or geographies. About 62% unemployed jobseekers in India report being open to the idea of exploring new career paths to navigate these challenging times. Professionals from impacted industries such as recreation and travel are found 2.7x more likely to look for jobs in a different sector. Further, remote jobs are an emerging trend in APAC, and India is found leading the region in terms of remote job application growth, which grew by 4.65x between March and May 2020. The new normal will also see the rise of "solo entrepreneurs" as people are expected to use the internet to maximize their skills and talent, in a bid to reimagine their lives and careers.
Online learning will continue to see massive growth in 2021 and will be a critical tool in helping Indian professionals future-proof their careers. As per LinkedIn’s year-end findings, 57% professionals said they will increase their time spent in online learning going forward to build the right mix of digital and soft skills, to upskill and to land new opportunities within the same company.
Some of the most globally in-demand jobs include data analyst, digital marketing specialist, graphic designer and software developer while the fastest growing skills include Python, machine learning, data structures, digital marketing and HTML 5.
LinkedIn data suggests that more than 85% human resource and recruiting professionals in India believe that reskilling of the workforce is very impactful in reshaping the future of recruiting. And it is chief human resource officers (CHROs) who will lead the way towards skill-first hiring, internal mobility, and remote work offerings.
“The year 2020 was a disruptive year, and 2021 will help us tackle unforeseen challenges and prepare for new realities. Going forward, India will re-imagine the future of work across five 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," said Ashutosh Gupta, India country manager, Linkedin.
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