LinkedIn, the world’s largest online professional network, today launched findings from the latest edition of its Workforce Confidence Index. Based on the survey responses of 4,684 professionals in India, findings from June 4 to Sep 9, 2022, reveal that sharing pay information at the workplace is considered taboo in India with just 1 in 10 professionals saying they would discuss their salaries with coworkers they trust (13%) and peers they trust in other companies (9%).
The report reveals that India’s overall workforce confidence has dwindled slightly, with the composite score dropping from +55 in July to +52 in September 2022. This is due to a volatile perception of jobs, finances, and career progress in these times of global uncertainty. The report also finds that despite a dip in overall confidence, India’s workforce remains optimistic about navigating these challenges as 7 in 10 professionals say they are confident about reaching the next level in their field (74%), their work experience & education (71%), and chances of their income increasing (68%).
Findings show that 61% of professionals in India are more comfortable sharing their payment details with a family member, while 25% are also ready to share with their close friends. Compared to the national average, younger generations in India are more likely to share their payment information with family and friends.
Around 72% of Gen Z and 64% of millennials in India say they are comfortable sharing their payment information with family members, while 43% of Gen Z and 30% of millennials are also willing to confide in their close friends. The report also finds that Gen Z (23%) professionals are most likely to share their payment information with co-workers they trust (23%), distantly followed by Millennials (16%) and Gen X (10%).
36% of professionals in India also say they feel anxious about sharing their payment information with anyone. Millennials are more likely to feel this anxiety (42%) when compared to Gen Z (33%) or Gen X (32%) professionals. This is despite over a third (36%) of India’s respondents believing that pay transparency would lead to better pay equality.
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