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77 per cent of companies will not cut salary: Survey

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A private survey suggests that 77 per cent of companies will not cut their workers’ salaries amid the Kovid-19 epidemic. The survey was conducted between 20 and 31 March, involving 4.17 lakh employees of 103 companies.

  • Coronavirus epidemic has broken the back of business worldwide. The revenue of the companies has been affected due to the lockdown. However, in the meantime, many companies have given their employees the option of working from home i.e. work from home.
  • However, increments, business and incentives have been affected after this. The Willis Towers Watson Kovid — 19 India Readiness Survey 2020 shows that 57 per cent of firms say they may be affected by Corona in the next 6 months.
  • The survey was conducted between 20 and 31 March, involving 4.17 lakh employees of 103 companies.

77 per cent of companies will not abridge the salary

  1. In this survey, 77 per cent of institutions have indicated that they will not cut the salary this year. 33 per cent of the companies said that they will give appraisals and bonuses to their employees just like the earlier scheme.
  2. 17 per cent of companies said that their long-term incentive plan design in 2020 had an impact. 53% of the companies participating in this survey said that no adjustment will be made in the payment related to sales.
  3. At the same time, 42 per cent has not taken any decision yet on salary increment budget this year.
  4. 57 per cent of the participants in this survey feel that due to Kovid-19, their business has some impact in the next six months. 46 per cent of these companies said that their business could have a minor to major impact in 12 months.
  5. 19 per cent of companies believe that their business may have a minor to large impact in the next 12 to 24 months. Only 5 per cent of the companies said that the next 12 to 24 per cent will see a positive effect on their business. However, 22 per cent do not know whether their business will be affected in the next six months or not.

What companies did to circumvent disease

To avoid Kovid-19 infection, all groups have taken some steps to protect their employees. In this survey, 99 per cent of companies have provided hand sanitizer for their employees, while 96 per cent of companies have taken some steps to prevent respiratory disease. 96 per cent of the companies have made some alternative arrangement for their employees to work. 86 per cent of companies have sanitized the workplace. 71 per cent of companies have made masks or other personal protective equipment available to employees. 64 per cent of the companies have provided counselling facilities.

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