Although the news about lay off and frozen recruitmentemployees in Asia will be more confident in their abilities — and more ready for a job transition than last yearaccording to LinkedIn.
This is based on the latest findings from LinkedIn’s consumer research conducted with more than 4,000 employees across Singapore, Australia and India.
According to their research, 63% of employees in India and around 43% in both Australia and Singapore said they were “more confident” when looking for a new job than they were in 2022.
LinkedIn adds that, even with recession fears, workers are showing “better resilience” and are prepared to deal with any upcoming downturn in the economy. .
Since the start of the pandemic, professionals have taken this time to strengthen their careers through upskilling, investing in growing their networks, and aligning their careers with new ones. areas that they are truly passionate about.
Pooja Chhabria
career expert, LinkedIn
Its research revealed that nearly half of those surveyed in Australia and India felt they were prepared for an economic downturn.
“The confidence and optimism we’ve seen from experts show they exhibit good resilience,” said Pooja Chhabria, career expert and head of editorial for Asia-Pacific at LinkedIn. post-pandemic to address any impacts that environmental uncertainty may have.”
“Since the start of the pandemic, professionals have taken this time to strengthen their careers through upskilling, investing in growing their networks, and aligning their careers with new ones. something they’re really passionate about.”
For example, the number of members adding skills to their LinkedIn profiles increased 43% year-over-year – a sign that employees are actively investing in skill development to secure their careers. theirs in the future.
Chhabria added: “As professionals expand their skill sets, they gain more transferable skills that can be applied to multiple job roles and improve their employability. surname”.
Why will they leave?
One thing is clear — employees took over in 2021 with greater negotiating power when job opportunities rose to record levels.
Teleworking during the pandemic also gives workers the freedom to work whenever or wherever they want.
We believe what will continue to happen in 2023 is that people want jobs where they have more freedom, make more money, or love their work more — or in some cases all three. .
Pooja Chhabria
career expert, LinkedIn
That has set the stage for post-pandemic work, and these desires are not going away anytime soon.
“We believe what will continue to happen in 2023 is that people want jobs where they have more freedom, earn more money, or love their work more – or in some cases,” says Chhabria. It is all three of those things.”
This is why employees may not want to stay at their jobs for a long time, according to LinkedIn.
1. Inflation
Rising inflation and cost-of-living pressure LinkedIn says it will push employees to look for another, better-paying job.
Their research shows that the desire for better pay has become the main reason to look for a job – 58% of those surveyed in Singapore, 49% in Australia and 45% in India said they are only willing to work in the country. current job in the near future. more money.
Employees in the Asia-Pacific region can find what they’re looking for. According to the Annual total remuneration survey by Mercer, companies in the region forecast overall wages to grow by an average of 4.8% in 2023.
Most markets will also see a rise in wages – India has the highest expected wage increase of 9.1%.
2. Better work-life balance
The words “quietly give up” arrive “average sugar,” buzzwords appearing in the world of work in 2022 have highlighted employee burnout and the importance of spending time outside of work.
A healthier work-life balance will continue to be a top priority for employees this year, as reflected by more than 30% of those surveyed across India, Singapore and Australia.
Of concern to employers in the region are overworked employees who do not feel a personal commitment to their current jobs.
According to LinkedIn, a whopping 75% of workers surveyed from Singapore identified themselves as so, along with 66% from Australia and 51% from India.
LinkedIn added that this “has the potential to lead to attrition” in the future as these professionals feel they won’t be in their current roles for a long time.
3. Career Development
Since 2022, workers have experienced high levels of disengagement and dissatisfaction.
Based on Gallup’s Global Workplace Report60% of respondents said they feel indifferent at work and 19% feel distressed.
Chhabria says the lack of opportunities for career growth or career advancement remains one of the top reasons people get depressed and want to quit.
LinkedIn research revealed that 67% of employees in Australia and 68% in Singapore believe their employer has not invested in their growth.
Internal mobility is also a big priority in today’s industries, as organizations strive to improve employee retention and reduce the cost of attracting new talent.
Pooja Chhabria
career expert, LinkedIn
“[Employees] want companies to invest in them by providing learning and growth opportunities to learn new skills and future-proof their careers,” she explains.
Chhabria added that those who manage to make an “internal move” – through a promotion or external change – are more likely to stay in their organization longer than those who stay in the same role.
“Internal mobility is also a big priority across industries right now, as organizations strive to improve employee retention and reduce the cost of attracting new talent.”
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Correction: This story has been updated to correct a reference to LinkedIn research to reflect that employees are more confident when looking for new jobs compared to last year.
