Our Bureau
Mumbai
The world has been in a dire state in recent times with conflicts between nations growing with each passing day. The geopolitical struggles that the world is going through has impacted the Indian corporate firms. The reports have come out stating that 63% of firms have confirmed that they will either freeze the hiring process as of now or start downsizing their teams.
There was an online survey taken from May 12th to June 6th of around 2,006 employees from across multiple sectors in the country. As per the survey, over 63% of the people who took the survey have confirmed that either their companies are ceasing the hiring for now or letting go people from their teams.
The other 15% of the lot have stated that they have seen a visible shift in their companies. People have stated that firms are looking forward to contract-based or freelance roles as the geopolitical tensions escalate.
Around 36% of the employees have reported that their appraisals and bonuses have taken a hit during these dire times. While 21% have claimed that there is an increase in workload pressure and deadlines. 22% of the survey takers have stated that there is a downfall in international business exposure and travels.
The Managing Director and Chairman of Genius Consultants, RP Yadav stated that the survey perfectly reflects the times we are in. He emphasized that the report shows that we are not only going through a difficult phase but are moving into a new era of work.
“This survey is a direct reflection of the times we are in. The external world is reshaping internal work realities at a pace faster than many expected. With 63 per cent of companies freezing or downsizing and employees actively upskilling or seeking alternatives, it is clear that we are not just navigating a moment, we’re transitioning into a new era of work. Employers must remain transparent and adaptive, while employees continue to stay resilient, agile, and prepared for the road ahead,” RP Yadav stated.
