HR Policy Study Explores the Impact of COVID-19 on Companies in India

October 16, 2020

An HR Policy in India survey found that human resources and IT were the best prepared to address the COVID-19 crisis.  In addition, over two-thirds of respondents predicted a greater focus on cost management due to the pandemic, and 55% expected a greater need for upskilling.   

The survey of 305 companies was conducted by Dr. Sandeep Mann in April and May, with 37% of respondents from large or very large companies and 63% of respondents from the HR function. 

Focus on impact, immediate action, and future planning:  The survey found that global companies were better prepared for the pandemic, with 26% of all respondents stating they were well prepared, 42% stating they were somewhat prepared, and 32% stating they were not at all prepared.

Data shows productivity linked to preparedness:  The survey showed a considerable variation in preparedness across functions and companies.

  • IT and related services led in productivity with 29% reporting productivity remained at or about 75% of normal times,
  • 19% of well-prepared respondents saw an increase in productivity, and
  • Nearly 50% of respondents who claimed they were “not at all prepared” reported productivity dipped below 25%.

The most significant immediate reactions to the crisis were reengineering and hiring reductions.  Nearly 75% of respondents in sales/marketing, procurement and operations identified the need for reengineering compared to 54% of HR respondents.  Two thirds of respondents reported that they were reducing hiring, with over half of those reporting a hiring reduction of at least 21%.

For more information on India and other international markets, join our upcoming online Global sessions HR Policy Global – International Developments for CHROs on October 27th and 29th, and HR Policy India Webinar: 'Near Term HR Challenges and Potential Solution' on October 22nd