The resilience of India as it prepares to welcome a new year and a possible vaccine campaign is expressed in the excitement of its employees about the job market, most of whom are upbeat about the prospects of their pay increase next year, a global study found by Indeed, the number one job site in the world.
64% and 56% of Indian employees, respectively, said they were positive about their chances of improving job prospects and an increase in pay in 2021. Yet, 54 percent said that even if approached by other employers, they would not seek other employment prospects, some citing current workplace satisfaction, with most citing job insecurity.
The decisions taken at the onset of the pandemic were successful in ensuring their business continuity, more than 2 in 5 employers said. In this time of crisis, 66 percent of employers also thanked their workers for coming together and supporting their business.
While forced into lockdown this year, more family time and inclusion/flexibility were cited as positive side effects by Indian staff. In 2020, 2 in 5 employees said “more time with family” and “more chances to work from home” had the greatest effect on their personal circumstances.
Interestingly, the study states that both Indian employers and employees share divided views on the balance between work and life and how they expect the future to turn out. 41 percent of employers and 39 percent of workers said that the boundaries between work and life are permanently blurred, with another 40 percent of employers and employees stating the lines are more distinct than ever.
As Indian employees look to the future, a majority of 59 percent said they wanted hygiene, fitness, and safety to be more taken into account in workplaces in 2021, with another 44 percent citing mental well-being as the second most important consideration. 1 in 2 employers said that when introducing new workplace strategies in 2021, social distancing and hygiene initiatives would be a priority.
More than 7 out of 10 employers said they would increase work-from-home opportunities, promoting hybrid work as the future of work, with another 59 percent citing enhanced flexible work options as an important factor when introducing new workplace policies.
Covid-19 disrupted the world’s economies, but it also created an opportunity for the workforce and the workplace to adapt, pivot, and reimagine,” said Sashi Kumar, Managing Director, Indeed, India.” The way companies redefine their talent strategies and workplace practices will play a crucial role in how India plans for the future of employment as the second-largest labor market steps towards its economic recovery.
Signaling recovery, platform data shows the number of job posts on Indeed India, a real-time indicator of the country’s labor market activity, has increased across industries. In November 2020, growth in job posts was 18.5 percent, from -50 percent in June-July 2020. In line with this sentiment, while reacting to their 2021 hiring plans in the report, 37 percent of Indian employers said they are planning to hire
Between November 13 and November 20 this year, the Indeed Global Survey measured the sentiment of 3600 employers and 14,142 workers across the UK, the US, Ireland, Australia, India, France, Germany, Belgium, the Netherlands, Italy, Singapore, Mexico, Brazil, and Canada. This included India’s 251 employers and 1015 workers. Censuswide conducted the study.