64% of Indian Businesses Are Pivoting In Response To Pandemic - Survey

Indeed, released the findings of its latest study on changing employer sentiments in response to COVID-19. The report reveals insights into shifting HR policies related to work-from-home / flexible work arrangements and their impact on the gig economy and business continuity planning by organizations in response to the pandemic.

The survey highlights that overall 64% of Indian businesses are ready or getting ready. 3% of SMBs say they are well prepared while 39% of large businesses are gearing up.

Businesses are adapting by leveraging collaboration technology to ensure uninterrupted work and developing new policies as the situation evolves to make remote working effective and efficient. The gig economy is best prepared, with 83% of businesses emphasizing their contingency plan includes frequent communication protocols and technological infrastructure to ensure seamless remote working.

The survey also highlights that 50% of Indian businesses have already reduced embedded resources, such as contract workforce/freelancers. Recruitment has experienced the greatest impact, with 36% of the surveyed businesses overall confirming that they have temporarily suspended their hiring activities, rising to a sizable number of SMBs and large businesses now focused only on critical hiring.

Commenting on the trends, Mr. Sashi Kumar, Managing Director, Indeed India said, “Even as the world is grappling with the pandemic, resilience is being displayed by many employers who are exploring new ways to ensure their workforce is able to function seamlessly and continue the business. Our data shows that remote working and work from home searches have been steadily increasing also, indicating jobseeker expectation mirrors these measures.”