In 2020, the COVID-19 pandemic disrupted the HR landscape and changed the definition and dynamics of work, workplace, employee-employer relationship, workforce well-being and mental health. TimesJobs surveyed 987 business leaders and HR managers working in different start-ups, MNC, SMEs to understand how they are braving the unexpected and more infectious – COVID-19 wave of 2021.
The survey delved into finding the effectiveness of various corporate initiatives for the COVID-19 affected workforce. Most (72%) survey respondents said that employee well-being was their topmost priority. About 59% managers said that they were ready to take a hit in business in Q1 of FY 2021-22 to accommodate workforce needs. While most were not halting operations – fearing business loss – but have switched to many alternative ways to keep the work and workforce going amid the Tsunami of COVID-19.
Rakhee Sharma brings you a detailed report on survey findings. Report designed by
Most firms providing monetary packages to COVID-19 affected workforce
The TimesJobs survey asked HR managers if their organisation has devised a new policy to help mental, physical and financial well-being of employees in the ongoing COVID-19 wave. Most (62%) HR managers said ‘yes’, while the remaining 38% said no such measures were implemented.
In a related question, the survey asked the details of the measures undertaken by corporates to help their workforce, the findings are:
- 26% respondents were providing monetary packages to COVID-19 impacted employees
- 25% respondents were providing leaves and day offs with no pay cut to those infected by COVID-19
- 24% respondents were providing healthcare infra via online health management partners
- 14% HR managers offered to cover education and family expenses for deceased employees
- The remaining 11% had arranged for a higher insurance sum for their COVID-19 impacted employees
The second wave of the COVID-19 crisis has again made organisational survival difficult, turning the spotlight on the HR department. When asked if HR managers were keeping a check on employee well-being in the present scenario, 54% respondents said that they were motivating their workforce for regular health checkups and tests. However, 31% said that they were keeping a daily check on their workforce for health stats.
India Inc. not considering shutting off businesses during this time
In 2020, corporates had announced insurance sums, leaves and financial aid for the COVID-19 struck employees. This year, the impact is far more grave and hence many have introduced new policies, programmes and measures to help their workforce. Some SMBs such as advertising firm RepIndia offered days off to their entire workforce to recuperate from personal health and family crisis during the present time. Realty firm Godrej Properties closed its offices for one week and Goldman Sachs recently declared one Friday as a ‘self-care day’ to let employees heal during the tough time. NGO Dasra offered two week off to its workers from April 26to help them take care during this COVID-19 resurgence.
These measures however, bring forth the business survival challenge for firms. Hence TimesJobs asked the survey group if their firms were considering shutting off businesses during the unprecedented time, here are their responses:
- The majority (36%) said they are not considering shutting off their businesses
- Nearly, 26% said they can consider shutting work for a month
- Around 22% HR managers said that their firm could be give such a break for at least two weeks
- 16% respondents said their company could consider such a break only for one week
Complete report at https://content.timesjobs.com/photo/82808273.cms