64% of business leaders say flexible working is at risk as they adjust to economic uncertainty
Given the current economic uncertainty, LinkedIn, the world’s largest professional social network, has conducted a study to analyze the impact of this situation on Spanish companies. This reflects the concern of business leaders that advances made in terms of flexible working (64%), skill development (79%) and employee welfare (77%) will be halted to reduce costs during the pandemic. ,
Spanish business leaders say that with the impending unrest, their priorities have changed and they now need to prepare financially (46%), look for ways to reduce workplace energy consumption (40%), Provide support so teams can work productively remotely (38%) and improve retention of existing employees (34%).
Thus, these have been prompted to redefine their labor policies and consider other possible measures, asking their employees to work more from home (40%), reducing efforts in terms of sustainability. (30%) or cutting the budget allocated for employee learning. and growth opportunities (26%).
According to ngel Sanz de Cenzano, General Director of LinkedIn Spain and Portugal, “It is certainly not the time to go back and undo the progress made in terms of flexibility and employee well-being. In the economic situation we are facing, She will return us. To adapt to a different reality, but we must not go back. We must continue to work on creating diversified and agile companies, investing in talent and developing the skills to be more productive and competitive with a certain priority.”
Similarly, LinkedIn found that leaders admitted to being aware of employees’ concerns about the rising cost of living (52%) and the likelihood of being fired (40%). Therefore, they believe that they have to reinforce commitment with their team in order to be more productive and achieve the desired results. To do this, it is essential to keep the professionals motivated and committed during the next six months, while also providing them with the opportunity to perform various functions within the company.
navigating through uncertainty
According to LinkedIn, empathy (38%) and communication (33%) are the keys to facing the economic challenge that arises for companies. In fact, these are the main soft skills that leaders recognize to deal with this situation, followed by problem solving (28%), transparency (28%), emotional intelligence (24%) and the ability to adapt (23%). Is. among others. Therefore, it is essential that leaders keep their teams in mind while making decisions and inculcate a culture of high trust to meet the challenges of the future.
In this sense, the professional social network offers advice to those who hold the highest responsibility and leadership positions:
Adopt Innovative Leadership: Managers must be transparent about the current reality and adapt to it while providing clarity to employees about the company’s future decisions.
Maintain workforce engagement and trust: Today, 40% of employers encourage collaboration and knowledge sharing among employees, which helps energize their teams and reinforce company culture.
Note on skills: The list of most in-demand skills in Spain has changed by almost 29% since 2015 and this percentage is expected to double by 2027. By understanding the skills your employees have today, and the skills the company needs, talent can be hired or redeployed in growth areas in the future.
LinkedIn asked YouGov to survey 2,929 executives worldwide (United States, United Kingdom, Ireland, France, Germany, Netherlands, Italy, Spain, Sweden, United Arab Emirates, Brazil, Mexico, India, Singapore, Australia, China). appointed for. and Japan) from organizations with more than 1,000 employees and an annual turnover of more than EUR 280 million, between September 27 and October 19, 2022. The survey was conducted online.
Conducted by census surveying 22,995 individuals in UK, US, Ireland, France, Germany, Brazil, KSA, Italy, Sweden, Netherlands, Australia, Austria, Switzerland, Singapore, Canada, India, Spain, Emirates United Arab and Mexico Global research was also taken as reference. The research was conducted between January 21 and February 8, 2022.
The LinkedIn Economic Graph team analyzed paid job openings in Australia, Brazil, France, Germany, India between January 2021 and September 2022, and the percentage of them away, how often they are viewed, and the number of vacancies for these positions. Analyzed the number of applications for Ireland, Italy, the Netherlands, Singapore, Sweden, the United Kingdom and the United States to understand current trends in flexible working.