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57% Indian cos expect negative biz impact: Study

A study by Willis Towers Watson reveals that about 57% companies in India expect moderate to large negative business impact in the next six months due to COVID-19 outbreak. There are differences when it comes to the duration for which this impact will last. While 46% of the organisations expect this to last over a 12-month period, 19% of them expect such an adverse impact to last over a two-year period. Around  5% of organisations expect a positive business impact within the next 12 to 24 months.

“Employers should take an emphatic and considerate approach and evaluate options such as staff redeployment, reduced working hours/days, long service leave, sabbatical, furlough, hiring freeze and voluntary pay cuts, before any serious consideration of a workforce reduction,” Rohit Jain, Head of India, Willis Towers Watson, said in a press statement.

Jain also noted that once the pandemic is over, some companies may need to re-hire and potential employees will factor in the consideration of organisational culture and how companies have treated their employees during the crisis.