Economic uncertainty threatens flexible working arrangements – LinkedIn
KUALA LUMPUR: Flexible working arrangements introduced during the pandemic are now being affected due to the current economic uncertainty, said the world’s largest professional network, LinkedIn.
LinkedIn in its latest research of global C-level executives, it found that more than two-thirds or about 68 percent of business leaders said the current situation could threaten flexible working.
In comparison, other key areas of working life such as learning and development (74 per cent) and employee wellbeing (75 per cent) may also be affected.
LinkedIn in a statement on Monday said its study of more than 2,900+ C-level executives from large organizations around the world and LinkedIn employment data revealed a growing discrepancy between what professionals want and what employers are offering with the balance of power shifting back to employers over hiring. getting slower.
It states that more than a third want to reduce budgets and employee learning and development opportunities as well as flexible working and hybrid work roles with 55 percent of business leaders in Asia Pacific preferring employees to be in the office working more often than working from home.
However, as many as 68 percent think that hybrid work will remain for a longer period of time, he said.
In Malaysia, LinkedIn said there are companies that are implementing strategies to weather the uncertainty such as investing in learning and development initiatives to equip employees with relevant skills and that upskilling efforts help create an adaptable, committed and dedicated workforce.
For example, the recent collaboration between the Human Resource Development Corporation (HRD Corp) and LinkedIn wants to accelerate Malaysia’s move towards a skills-based economy by helping their employees improve their skills and be retrained through LinkedIn Learning held online, he said.
The Chief Executive Officer of HRD Corp, Datuk Shahul Dawood, said employers registered with HRD Corp are beginning to return and are now focusing on accelerating business recovery and growth for the next few years in line with the projected growth of Malaysia’s Gross Domestic Product (GDP) for 2023.
“However to ensure it is effective, they need to continue to embrace digital technology to drive operational efficiency and increase business productivity. In addition, they also need to place more emphasis on human resources. This means hiring employees with the right skills and providing training and development opportunities to existing workforce to use and optimize digital technology tools.
“Thus, HRD Corp has collaborated with leading business and industry associations to develop the Industry Skills Framework, career paths, knowledge, skills and qualifications required for a number of jobs and specific industries,” he said.
