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As many as 90 per cent of the workers in India expect their income to increase in the current financial year, found a survey conducted by ADP Research Institute.
According to the findings, almost 78 per cent of the respondents got a salary hike in the last financial year.
Taking a global perspective on workforce sentiment, the report noted that pay is a burning concern for most of the respondents as living cost skyrockets across lower- and middle-income countries who find themselves severely stretched on the issue of income. “Spending on essentials, let alone luxuries, is being tightly squeezed as they grapple with soaring energy bills, rising rents, increasing interest rates, and escalating food bills,” the report noted. It further stated that inflation continues to remain high in many countries and the same may ‘take some time to return to more comfortable levels.
ADP Research Institute conducted a survey of 32,612 workers in 17 countries around the world between 28 October and 18 November 2022.
Do Indian employees feel underpaid?
The data presented by ADP shows that 69 per cent of Indian employees feel they are underpaid in contrast to 43 per cent of their global counterparts. The numbers for the same in China stand at 27 per cent and for Singapore, it's 46 per cent.
Despite the underpaid statistics, Indians continue to remain dedicated to their respective jobs. They contribute the highest percentage in Asia-pacific with 10 hours and 39 minutes of unpaid time per week, followed by Singaporeans (eight hours and 11 minutes), Chinese (seven and a half hours), and Australians (seven hours and 10 minutes).
How many want a flexible, comfortable workspace?
78 per cent of Indians, 73 per cent of Chinese, 73 per cent and 72 per cent of Singaporeans and Australians desire a more flexible work culture. Most stress that the same number of working hours could be converted into a four-day week, leaving little scope for overtime.
Worldwide, workers agree that they’re able to be open about their physical (68 per cent) and mental health (64 per cent) at work. As per the report, most people disagree that their work is suffering due to poor mental health compared to the year before.
Feelings about the future
Despite 62 per cent of workers agreeing that no sector will escape the effects of economic uncertainty, the technology/information industry is seen as the most ‘future-proof’ (44 per cent). Interestingly, those working in finance feel most satisfied with their career progression opportunities and the training and development they’re given at work: nearly two-thirds (63 per cent) of finance workers say so.
Only four in 10 workers (37 per cent) responded that they don’t feel secure in their jobs. The youngest feel least secure in their jobs at 50 per cent. Presenting a hopeful picture, the report underlines that optimism about the next five years in the workplace continues to remain high at 87 per cent.
