While 3% of SMBs say they are well prepared, 39% of large businesses are gearing up.

Money Coronavirus Thursday, March 26, 2020 - 18:28

Job site Indeed on Thursday released the findings of its latest study on changing employer sentiments in response to COVID-19. The survey highlights that overall 64% of Indian businesses are ready or getting ready, while 3% of SMBs say they are well prepared and 39% of large businesses are gearing up.

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 organisations in response to the pandemic.

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 emphasising 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 sizeable number of SMBs and large businesses now focused only on critical hiring.

Commenting on the trends, 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.”

The study commissioned by Indeed surveyed 150 employers of SMBs, large organisations and gig economy businesses across 10 cities in India.