Young professionals gung-ho about demonetisation: Survey

In all, 51% of young professionals in India feel positive about the 8 November demonetisation decision taken by Prime Minister Narendra Modi, according to a recent survey conducted by Talentedge, an ed-tech firm.

The survey of over 1,000 young professionals across eight metropolitan cities in the country, showed that young working professionals don’t see demonetisation as a “threat” to their career expectations and 49% expect to change jobs in the coming year, while over 50% of them are looking forward to a substantial increment, as they are expecting the economy to get a boost, post demonetisation.

The survey also showed that the younger lot, aged between 21-24 years, had greater expectations and positive thoughts about the market in the coming year than those older to them. In all, 65% of these professionals think that they would get a substantial increment of about 20% over their present salaries in 2017, while 54% of young professionals are expecting a promotion.

Explaining this phenomenon, Aditya Malik, CEO and managing director of Talentedge, told The Sunday Guardian, “The younger generation is less likely to be impacted by demonetisation because this generation is more tech savvy and does most of its transactions online. Most of them are already on payment applications like Freecharge and Paytm. Quite a few live with parents and are not married; so the burden of running the house where cash is in play is not theirs.”

However, professionals between the age group of 25-30 had a little less expectation from the economy in the coming years. Only 15% of such professionals think that there could be an increment of about 20% in the coming years, while the rest believe that the market could stay down and thus chances of an increment would be low.

“It has been proved time and again that our youth is extremely optimistic. In fact, India ranks highest as an optimistic country and this reflects in our survey, where you will see that while the younger set is overwhelmingly positive, the older lot is not overtly negative either. The difference between the two groups is that of unbridled optimism and cautious optimism,” Aditya Malik said, adding that the younger lot is expects more promotions and increments because their growth is more task or target driven, while the seniors are judged on team performance, company targets, etc., and therefore are likely to get lower increments.