The AC Nielsen Survey shows that Indians are optimistic – with only increasing food prices and work/life balance as our major concerns.
By Anne John
According to the latest AC Nielsen Global Consumer Confidence Survey, it looks like we as a country are right up there, floating high above those wispy clouds! More than 26000 people have taken this survey worldwide and India has clearly emerged as the most optimistic nation in terms of future job prospects, consumer expenditure and personal finance.
With the job market gradually opening up, a brighter economy and fewer instances of pink slips being handed out, many leading companies are having a renewed interest in employee satisfaction programs. In fact, according to NASSCOM, attrition rates are expected to pose a problem for the Indian IT industry as companies go back into hiring mode. This means that HR personnel are coming up with innovative and attractive strategies for increased workplace confidence and employee retention, including tapping into the huge resource pool of flexi-working individuals.
While the rest of the world is still grappling with the recession, Indians are quite willing to dig into their pockets and spend. This however, doesn’t mean that we are spendthrifts and splurge away all our money, because we are also leading on the savings front; implying that we strive to strike a healthy balance. Can it get better than that?! (Saving for your children, which we covered before is incidentally one of the prime concerns of Indians.)
Speaking about balance, we seem to feel that though our cup is full, it does not exactly run over. We have our own share of concerns too with rising food prices making the top of the list followed by issues such as work/life balance and job security, as shown in this chart. The worries about job security have perhaps been left behind by the job cuts that happened in some industries last year. Worries about work/life balance reflect the increasing amount of time that Indians spend in offices, in contrast to the 9 to 5 routine that the previous generation had.
It’s interesting to note that while the world is worrying about wars, recession, unemployment and possible nuclear crises, sentiment in the Asia-Pacific region is considerably strong and India glimmers like a shining beacon of hope!
(All data graphs courtesy AC Nielsen)