A majority of business respondents to a survey did not foresee reducing employee costs due to the coronavirus (COVID-19) slowdown in India as of mid-March 2020. However, about 17 percent each considered freezing incentives and benefits for the year, and reducing headcount based on performance.
India went into lockdown on March 25, 2020, the largest in the world, restricting 1.3 billion people.
For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Fact and Figures page.
Coronavirus (COVID-19) impact on ways to reduce employee costs among businesses in India in March 2020
Characteristic
Share of respondents
Not applicable (no negative impact on business or not such action needed)
32%
Freezing of incentives and benefits for the year
17%
Reduction in headcount based on performance
17%
Unpaid leave via forced shutdown of operations for sometime
11%
Can't say
11%
Freezing of appraisals for the year
6%
Partial salary deferment for some or all of the employees
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
LocalCircles. (March 20, 2020). Coronavirus (COVID-19) impact on ways to reduce employee costs among businesses in India in March 2020 [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1105891/india-ways-to-reduce-businesses-employee-costs-due-to-covid-19-slowdown/
LocalCircles. "Coronavirus (COVID-19) impact on ways to reduce employee costs among businesses in India in March 2020." Chart. March 20, 2020. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1105891/india-ways-to-reduce-businesses-employee-costs-due-to-covid-19-slowdown/
LocalCircles. (2020). Coronavirus (COVID-19) impact on ways to reduce employee costs among businesses in India in March 2020. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1105891/india-ways-to-reduce-businesses-employee-costs-due-to-covid-19-slowdown/
LocalCircles. "Coronavirus (Covid-19) Impact on Ways to Reduce Employee Costs among Businesses in India in March 2020." Statista, Statista Inc., 20 Mar 2020, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1105891/india-ways-to-reduce-businesses-employee-costs-due-to-covid-19-slowdown/
LocalCircles, Coronavirus (COVID-19) impact on ways to reduce employee costs among businesses in India in March 2020 Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1105891/india-ways-to-reduce-businesses-employee-costs-due-to-covid-19-slowdown/ (last visited November 10, 2024)
Coronavirus (COVID-19) impact on ways to reduce employee costs among businesses in India in March 2020 [Graph], LocalCircles, March 20, 2020. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1105891/india-ways-to-reduce-businesses-employee-costs-due-to-covid-19-slowdown/
