Almost half of cos expect negative impact of COVID-19 on business for 12 months

New Delhi, Apr 21 () 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 and 46 per cent indicated that they would reimburse employees the expenses incurred for setting up their home internet for work purposes.

Around 55 per cent respondents said they have no fixed end-date on their flexible work arrangements.

"Almost half of the respondents expect a negative impact on their business in the next 12 months; 19% expect adverse impact to last over a two-year period," the survey said.

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. BKS MR