According to LinkedIn’s economic graph data, hiring levels in India were 23% slower in Dec 2022 as compared to Dec 2021. Despite this, latest research by the world’s largest professional network reveals that the Indian workforce appears resilient in the face of economic uncertainty, with 4 in 5 (80%) professionals considering changing jobs in 2023. This sentiment is largely led by Gen Z, with 88% of professionals aged 18-24 considering a switch, compared to 64% of those aged 45-54.
Despite uncertain economic times ahead, professionals are taking a long-term view of their career by investing in their skills and proactively seeking opportunities to progress. Over three quarters (78%) of workers surveyed said if they were to leave their job, they would feel confident finding other roles to apply for.
Professionals are motivated by different reasons when seeking a job. The rising cost of living pressures and need for financial security is one of the major factors that is pushing workers to look for a new job as they want more money (35%). A similar proportion (33%) is also keen on switching to roles that offer better work-life balance (33%). 1 in 3 (32%) said they also feel more confident in their abilities and think they can find a better role.
Workers are taking a proactive approach to weather the economic storm
According to LinkedIn’s Workforce Confidence Index, just over 2 in 5 (43%) professionals in India feel prepared for an economic downturn. However, professionals are also seen taking proactive measures to ‘career cushion’ themselves from the ongoing uncertainty. More than half (54%) of professionals in India are growing their network by staying in touch with the right people and attending more business events. They are also getting better aligned to business priorities with nearly half (47%) proactively asking for feedback from their peers and managers to do the work that their companies value most. Additionally, 44% are learning new in-demand and transferable skills today.
Nirajita Banerjee, LinkedIn Career Expert and Head of Editorial for LinkedIn India, shares, “Despite tough economic conditions, the Indian workforce is relying on their own abilities to grow and push forward. Since the pandemic, it’s clear that professionals have built up a bank of resilience, and we’re seeing this in their response to tackle the year ahead. They are striving for the ideal role that offers the right wage, and allows for appreciable work-life balance and flexibility. While the future remains dynamic, it is essential for professionals to invest in themselves by building transferable skills that will make their profiles more versatile and adaptable to different roles. We have seen a 43% year-on-year increase in members adding skills to their LinkedIn profile – 365 million have been added in the last 12 months. This is a smart way to secure a sustainable and successful career.”
To support job seekers, LinkedIn is hosting a packed line-up of inspirational content and live workshops on the platform, from Jan 30 to Feb 3, offering practical career advice and job seeking tips from Top Voices in Jobs and Career. LinkedIn is also unlocking free LinkedIn Learning courses such as to support professionals in their next career move such as Build a Career You Love No Matter the Market, A Career Strategist’s Guide to Getting a Job, Recession-Proof Career Strategies, Mel Robbins on Confidence and A Bold New Approach to Goal Setting with Michael Bungay Stanier.
LinkedIn’s tips on how to make the best out of a career move in 2023:
● Invest in yourself: Online courses can bridge the gap when learning new skills or brushing up on existing ones. For job seekers, it’s vital to understand the skills that are in demand, what skills you have that are transferable and what skills you need to learn. LinkedIn Learning has over 18,000 courses available, for anyone looking to invest in themselves, including free access to Build a Career You Love No Matter the Market to help job seekers prepare for their next career move.
● Stay on top of the latest updates: In a shifting, competitive job market, the latest information could give you the advantage you need. LinkedIn’s Get Hired newsletter provides timely job search advice and shows which companies are currently hiring and these Top Voices are the ones to follow to stay in the know of certain topics/subjects.
● Create a standout profile: Be sure your LinkedIn profile is up to date to stand out to recruiters. LinkedIn members with a profile photo have 21 times more views and up to 9 times more connection requests than members who don’t. Be sure to include a short summary of your background and highlight your key skills. You can also let recruiters and your network know you’re open to new opportunities by enabling the ‘Open to Work’ feature on your profile.
● Look for in-demand roles: Whilst the job market as a whole is tightening, our data shows roles in areas such as business functions sales, cyber security, and sustainability are on the rise. If you’re looking at a career change, making a smart choice on what industry you enter is essential.
● Get interview ready: Employers will be looking for the best fit, so before each application, think – why is this role for you? How can you demonstrate that? Why should they hire you over someone else? By using tools like LinkedIn interview prep, you can prepare yourself for any interview.
LinkedIn has also revealed the Jobs on the Rise – the fastest-growing job titles over the past five years. The data reveals that roles that contribute to driving business results in an uncertain economic environment, strengthening customer retention and acquisition, and boosting sustainability initiatives are seeing strong growth in 2023.
These are the top 15 Jobs on the Rise in India for 2023:
1. Category Associate
2. Healthcare Recruiter
3. Customer Success Associate
4. User Experience Writer
5. Talent Acquisition Partner
6. Data Annotator
7. Closing Manager
8. Head of Growth
9. Business Development Representative
10. Actuarial Associate
11. Sales Development Representative
12. Acquisition Associate
13. Demand Generation Associate
14. Drone Pilot
15. Sustainability Manager