72% Indian firms see COVID-19 impact going beyond 6 months: Survey

Around 70% of the organisations believe that the single biggest concern for continued remote working is fall in productivity.

72% Indian Firms See Covid 19 Impact Going Beyond 6 Months Survey

While the COVID-19 impact can be felt by organisations across sectors, 72 per cent of the organisations in India believe that its impact will be felt beyond six months, according to an EY survey.
“Around 70% of the organisations believe that the single biggest concern for continued remote working is fall in productivity. The crisis is also forcing organisations to re-look at the HR processes and operations through a digital lens,” said the EY survey titled ‘HR resilience planning – COVID-19 impact and preparedness’.
The survey incorporates first-hand perspective of HR Heads/CHROs of over 100 organisations across sectors in India on the impact of COVID-19 and their preparedness to tackle the current situation.

Around 87% of the respondents currently have travel restrictions in place in addition to the mandated ones. “At this time of crisis, organisations must adopt to the changing ways of working, and invest in the right IT infrastructure and build in structured mechanisms to institutionalise remote working,” the survey said.

Organisations that were not accustomed to virtual working have faced the heat and have had to mobilise IT infrastructure and set up data security protocols at a very short notice.

According to the survey, ensuring workforce productivity while working remotely is a concern area. “An important dimension that organisations will have to consider is the psychological impact of the crisis on their employees. While some organisations have started virtual yoga and psychological counselling sessions, a holistic approach to employee wellness will be imperative,” the report said.

55% of the organisations foresee medium to significant impact on employee cost, while others are still unclear, the EY survey said. It adds, “Many organisations have adopted an employee centric view and trying to protect the junior management, a few are also offering additional pay-outs, hazard pay to support their workforce through these tough times.”

Only 22% organisations are thinking about manpower optimisation in the short term (maintaining an employee centric view), while 35% organisations want to look at optimisation in the future basis business impact and in line with the newer ways of working, EY said.


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