LinkedIn launched new global C-level research on Nov. 14 showing that the flexibility and employee benefits introduced during the pandemic are now at risk due to ongoing economic uncertainty. According to research, 9 out of 10 business leaders in India India say that the current economic environment may jeopardize flexible work (91%), while other areas of work life such as learning and development (90%) and employee well-being (89%) are also likely to have the greatest impact .
In fact, more than two-fifths of India’s business leaders want to reduce employer learning and development budgets and opportunities (43%), and nearly half (49%) want flexible and hybrid working roles (49%) . Additionally, 71% also prefer employees to work from the office more often than to work from home. Despite this, 82 per cent of business leaders believe hybrid working is here to stay for the long haul.
This comes at a time when new analysis of remote job postings on LinkedIn shows that remote roles are declining, even though applications for those roles exceed supply in India by nearly 2 times. In September 2022, 11.3% of paid job postings in India offered remote working options. However, remote working roles received 20.3% of all job applications.
Meanwhile, as well as reducing companies’ flexibility and growth opportunities, C-level research shows that a majority (86%) of business people in India are concerned that these cost-cutting measures will have a negative impact on employee motivation levels. Will impact – whatever it may be why 84% agree they can’t find the right talent today.
Ashutosh Gupta, India Country Manager, LinkedIn, said, “The sheer level of current uncertainty is forcing many leaders to rethink what – and how much – they can give to their employees today. While flexibility and learning usually come first when times are tough, falling back on these in the current situation can demoralize employees, widen the skill gap, and increase retention rates. At a time when professionals are just as threatened by an age of uncertainty as businesses, leaders must take a forward-thinking approach and continue to invest in their people. Empowering employees to upgrade their skills and allowing them to choose how they want to work can lead to greater levels of employee satisfaction in these testing times. Ultimately, having a workforce that feels supported and fulfilled will be critical to building resilient businesses that grow and outperform competitors despite macroeconomic challenges.
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