64 pc of Indian businesses ready to tackle COVID-19 crisis: Survey

When the world is fighting the coronavirus pandemic, 64 per cent businesses in India said they are ready to ride through the current crisis, according to a survey.

Overall 64 per cent of Indian businesses are ready or getting ready to ride through the ongoing crisis due to COVID-19, while 3 per cent of small and medium businesses (SMBs) said they are well prepared and 39 per cent of large businesses said they are gearing up, according to the survey by job site Indeed.

The survey was done among 150 employers of SMBs, large organisations and gig economy businesses across 10 cities in India.

It showed that 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 per cent of businesses emphasising their contingency plan includes frequent communication protocols and technological infrastructure to ensure seamless remote working, the survey report added.

It also found that 50 per cent of Indian businesses have already reduced embedded resources, such as contract workers or freelancers.

Recruitment has experienced the greatest impact, with 36 per cent of respondents 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, it 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 working from home searches have been steadily increasing also, indicating jobseeker expectation mirrors these measures," Indeed India Managing Director Sashi Kumar added.