Work From HomeBusiness Features

Workplace may lose pandemic gains due to economic uncertainty — LinkedIn

The new LinkedIn study shows that with return-to-office orders, some of the progress made during the pandemic may be in jeopardy. According to the professional network, more than two-thirds (68%) of leaders say the current climate could threaten flexible working, while other essential areas of working life such as learning and development (74%) and employee wellbeing (75%) are likely to be affected too.

Over a third of organizations are considering reducing employee learning and development budgets and opportunities, as well as flexible working and hybrid working roles. In addition, 55% of business leaders in APAC prefer employees to work more frequently from the office, as opposed to working from home. Despite this, 68% felt that hybrid working is here to stay for the longer term.

A new analysis on LinkedIn shows that remote job postings are in decline, although the applications to those roles outstrip supply. As of September 2022, remote positions receive more applications in countries such as Australia (10.8%), India (20.3%), and Singapore (7.8%) than available jobs.

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The LinkedIn study of 2,900+ C-level executives from large organizations worldwide and LinkedIn jobs data highlights a growing disconnect between what professionals want and what employers are now offering, with the balance of power shifting back to employers as hiring slows.

Career transformation

LinkedIn’s Global Talent Trends report reveals that the top priorities jobseekers value beyond compensation are advancement, flexibility, and upskilling across APAC. In terms of advancement and upskilling, the report finds that employees want growth and transformation in their careers. Those who make an internal move are more likely to stay at their organization longer than those who remain in the same role.
a 55% chance of staying.

“Companies that pull back on flexible working, learning, and development risk demotivating their workforce and pushing people to competitors that offer more attractive options,” said Feon Ang, managing director, APAC, LinkedIn. “Motivated employees are crucial to gaining a competitive advantage, and damaging that is a risk businesses can’t afford to take, particularly when other worries, such as the higher cost of living, are already weighing people down.”

Flexibility and a focus on skills are crucial to the long-term survival of businesses. These have traditionally been the first to go when times get tough, but they are essential to building diverse and resilient companies adapting to a fast-changing world. Forward-thinking organizations that invest in their people during these times will be the ones that outperform competitors and come out stronger.”

As companies navigate uncertainty, one area of agreement is clear–problem-solving. It’s the top soft-skill APAC leaders identified as necessary to get through this time, followed by communication, creative thinking, and transparency. Soft skills such as problem-solving, communication, and strategy were featured in 78% of jobs on LinkedIn over the last three months. Rather than leaving their teams in the dark about the tough decisions, leaders need to build bridges with their employees and bring them on the journey.