7 October

Business Pulse – October 2021

While generally considered to be “one of the best months to start a business” (according to startupnation.com), October was not short of drawbacks, with business optimism going down 2% amidst increased costs in operating the supply chains worldwide.

It seems like the global recovery from last year’s pandemic-induced lockdowns has started to lose momentum, and with it, we are experiencing worsening conditions in the following quarter.

Another unexpected blast for the business community was the announced shutdown of the LinkedIn networking platform in China. LinkedIn was the most extensive foreign-operated social network left in the Eastern Asian country, with 54 million users, after similar bans of Twitter, Facebook, and Instagram.

This measure will leave the Chinese professionals unable to post personal updates and connect with western peers; the network usage is strictly limited to job hunting. Because networking plays a vital role in the recruitment process, this move will also affect recruiters and job opportunities abroad.

But the shrinking talent pool is just one of many challenges employers have learned to address through Linkedin. Another pressing issue is transparency. According to a recent poll, 56% of candidates prefer to get the salary question out of the way early on, while only 22% wait for the employer to bring it up during the conversation. If anything, this spotlights a shift in the dynamic of job hunting with millennials now approaching the job market in a slightly different way.

Business Pulse is a collection of thought-provoking surveys on various business topics curated by Promocrat. We aim to give you some insight into what employees are thinking and talking about. Today we take a look at nine other surprising insights provided by polls in October:

  • Cruising through a pandemic while trying to find your dream job is no easy task.  According to the World Health Organization (WHO), mental health conditions are on the rise. Data show that around 20% of children and adolescents worldwide already live with a mental health condition. Even more concerning is that work-related emotional distress often goes unnoticed. In a poll conducted by Samantak Panda, founder of TuTek, an innovative ed-tech company for kids, 36% of responders said they would solve any problem causing mental stress by themselves instead of seeking help for others (17%). 40% said they would practice mindfulness and relaxation, with 7% finding other coping mechanisms.
  • Also, on the topic of finding a dream job, when given the option of working for either Netflix, Spotify, Bumble, or TikTok, a vast majority of employees choose Netflix (61%). It comes as no surprise with the giant streaming platform offering 12 months’ maternity and paternity leave, unlimited vacation days, extended medical insurance, and many other benefits. Netflix seems to be a good case practice when it comes to treating employees with dignity and consideration.

  • According to Jobvite’s “2021 Recruiter Nation Report”, 𝟲𝟴% of recruiters have caught candidates misrepresenting themselves on their resumes. Questioned if they have ever fibbed on their resume, 84% of employees maintained an honest display of their skills, while 16% admitted to lying about their skillset (7%), employment dates (7%), and even education (2%).
  • On job satisfaction and its pursuit, 39% of employees feel that their personality was allowed to thrive in a job position, while 33% of those questioned have not experienced this.
  • As many recruiters have said in the past, career planning requires a long-term approach. During the initial interview, the employer is often presented as an active part of that process. But how many employers keep their promise 3 to 6 months after your first personal development touchpoint?
  • How about a year later or even later in your career? The same question was asked to a poll of 3 thousand employees, and the results were mixed. 20% of them disclosed that they have weekly meetings with a manager/higher-up, 20% have monthly meetings, 20% meet quarterly, and 40% admitted they only discuss career development once a year.

  • With job stability threatened by the pandemic and record numbers of resignations in the first trimester of the year, “job hopping” is a term we’ll hear a lot more about in the interviewing process next year. Fortunately, the term does not carry any stigma among business professionals, with 87% of employees considering job-hopping to be a valid career prospect rather than staying loyal to an unfulfilling position. Only 13% of almost 5 thousand responders view it negatively.

  • With the end of the pandemic nowhere in sight, Gen Z is driving the change in the workplace. So much that recently LinkedIn’s CEO Ryan Roslansky compared the Great Resignation of this year to a “Great Reshuffle,” all thanks to young workers. In a recent poll on the definition of “adulting,” over 50%of young professionals have signaled that having “financial control” is the ultimate form of becoming an adult. Surprisingly, this option has totally surpassed the ability of “having great relationships” (11%), something the scientists are calling “the great disconnect” of the digital age.

  • While a person’s title usually confers their trust and credibility, this does not apply to former positions held by an individual. In a recent poll by LinkedIn’s Top Voice of 2019, Sarah Johnston, it was revealed that 54% of employees do not view an “ex-company” title as adding any credibility to a LinkedIn headline. 25% of employees were more on the fence regarding the issue, and 21% were confident that it bought some added value to a profile.
  • Asked whether they would delete their LinkedIn profile now for 5 thousand $ or keep it for more significant future gains, 63% of LinkedIn users have stated their option to keep their profile, thus acknowledging the platform as a money-making instrument.

Saw any exciting polls on your social media feed in November? Please send them to yourstory@promocrat.ro.