Currently, COVID-19 is spreading like wildfire and leaving behind its deadly impact across the world. The IMF has already predicted the contraction of the world economy in 2020 by 3% as compared to nearly 2.3% GDP growth in 2019. Some experts are projecting one of the worst recessions the world has ever seen. This would have a varied impact on businesses depending on the sector, financial muscle, and management decisions of the company. While certain businesses may permanently close down, some will struggle and some will come out as a winner. There will be both permanent and temporary lay-offs leaving millions of people jobless. Even in this imminent recession, a certain set of companies into health-care, pharma, medical equipment, online media & entertainment, e-learning, digital payment/fintech, food processing, etc. are witnessing increased demand and will create new job opportunities for some. Human Resources are the lifeline of any organization and need to be handled with the utmost care and dignity all the time, and not just during this crisis. Companies are planning to take various short-term and long terms HR measures best suited to them in their wisdom.
Mumbai/New Delhi/Kolkata: Take it with a pinch of salt if you will: but leading corporations say employees' safety and wellness – physical, psychological and emotional – is their priority even as the apocalyptic spread of the Covid-19 pandemic has disrupted life and businesses alike in India and elsewhere.
Top corporate employers including TCS, Dabur, Flipkart, Ola, Axis Bank, Bank of Baroda, Vedanta, RPG Group, EY, KPMG, Panasonic, Siemens,
Microsoft, WiproNSE 0.76 %, ITC, AMD, Tata Steel, Schneider India, Dalmia Bharat Group, Accenture, Swiggy, Motilal Oswal Financial Services, RBS India, Big-basket and Welspun Group, and all of them said saving human capital and well-being of employees is the most crucial task before their managers and HR leaders.
And they have come up with novel ideas – ranging from doctor on call, psychological counselling and online meditation and fitness sessions to virtual team lunches and dedicated
and they have come up with novel ideas – ranging from doctor on call, psychological counselling and online meditation and fitness sessions to virtual team lunches and dedicated ‘work for home' hours to help in household work – to keep their employees motivated and engaged.
“People are our biggest assets, and that becomes more important in such times,” said Madhu Stradivari, group chief human resource officer at diversified miner Vedanta where managers conduct regular online team huddles. ..
Some facts are taken from Google