More than half of Indian cos expect moderate impact of COVID-19 on business: Survey

About 57 per cent of organisations in India expect a moderate to large negative impact on their businesses in the next six months while 46 per cent expect the effects of COVID-19 pandemic to last over 12 months, according to a survey by global advisory firm Willis Towers Watson. The survey further said that 83 per cent organisations plan to review their work-from-home policy, while 55 per cent have no fixed end-date on their flexible work arrangements. As per the survey, 42 per cent organisations have not taken a decision on salary increment budgets for this year, while 33 per cent indicated that performance appraisals and bonus pay-outs will happen as planned.

Almost one in three respondents anticipate that their 2020 annual bonus for executives and employees will be impacted, while 17 per cent expect an impact on their 2020 Long Term Incentive plans, it said. Willis Towers Watson said a total of 103 organisations in India participated in the survey conducted during March 20-31, 2020. Data was collected from nearly 417,000 employees working across sectors.