Amid tough jobs market, pay cuts and an ailing economy due to COVID-19, Indian professionals working in manufacturing , IT, and media feel their companies will fare worse in the next six months, revealed a new LinkedIn survey.

According to LinkedIn's second Workforce Confidence Index professionals in healthcare, education and corporate services industries (such as management consulting, accounting, and human resources) are the most confident about the future of their companies.

This fortnight’s report stated 52% of corporate service professionals, 50% of healthcare professionals, and 33% of education professionals are confident about their companies faring better in the next 6 months. These industries are also confident about their companies’ long-term outlook, as more than 4 out of 5 healthcare professionals, 4 out of 5 corporate service professionals, and more than half of all education professionals in India think their companies will do better in the next 2 years.

In contrast to this optimism, IT, manufacturing, and media professionals display low confidence towards job stability and career progression, as companies in these industries buckle under the pressure of coronavirus. It was observed that 1 in 4 manufacturing professionals, more than 1 in 5 IT professionals, and more than 2 in 5 media professionals feel their companies will fare worse in the next 6 months, exhibiting a bleak outlook towards the short-term future. However, the same industries are confident about strong long-term growth as 77% of manufacturing professionals, 67% of media professionals, and 65% of IT professionals feel their companies will fare better in the next 2 years.

The survey based on an online survey of 2,254 members across two weeks: April 1-7 and April 13-19, showed that one in three Indians have reported a decrease in their personal incomes, whereas 48 per cent of active job seekers and 43 per cent of full-time professionals anticipate fewer job openings in the next two weeks.

However, self-employed professionals emerge as the worst hit with 62% reporting a decrease in income as businesses adopt cost-cutting measures to avoid long-term financial insecurity.