The Work From Home (WFH), implemented by IT & ITEs, Manufacturing and Capital Intensive and Allied Industries and Modern and Online Retail industries, by and large, has been successful. 58 percent of the companies surveyed implemented 100%, some could implement to the extent of 70 percent and very few less than 50 percent.
Lockdown impacted especially the Startups, SME’s in India with an impact of 60% to 90% for 350 Companies on day 1 and for significant 110 Companies more than 500 people, the pandemic affected 100%.
72% of CEOs surveyed felt that it was not appropriate to give paid leaves to employees during the lockdown as advised by the government. Only 28% felt it was appropriate. Further, they questioned the double standard of the governments. When governments can slash or defer salaries their employees, why can’t private business houses are allowed. When governments can do this, why can’t we, they wanted to know.
During the survey, the Business Owners came up with top five suggestions to the Government, which include as follows.
- Government should pay employees PF and ESI for the month of March, April and May
- To provide support to the industries by providing Rebate in taxes, reduce interest percentage, provide employees welfare activities, make sure utilities are available at controlled cost.
- Government should pay 50% of Employee cost for MSME with turnover less than 50cr for shutdown period and 25% for a period of 3 to 6 months beyond shutdown till business conditions improve
- Deposit of Rs 15 lakhs to each family as promised by PM earlier or some of amount to combat next 6 months. Smaller companies need access to easy loans from banks and NBFCs to rebuild their businesses
- Release some Unemployment Allowance especially those who are jobless and who were earning less than Rs. 15,000/- per month
The survey by Hyderabad based Husys Consulting Limited, India’s first listed HR Company on the NSE Emerge SME platform (Ticker: HUSYSLTD). It covered 500 plus companies across India and across cross-section of industries such as –
- IT & ITES Product &Services: 45%
- Manufacturing & Capital Intensive and Allied Industries: 40%
- Modern Retail/Online & Other Businesses: 15%