COVID-19 impact: 61 Per cent Indians suffering from mental health issues during lockdown
With people restricted with the four walls of their homes, mental health has taken a severe hit as 61% Indians are experiencing mental health related issues due to uncertainty, and looming financial crisis caused by the COVID-19 enforced lockdown.
According to the ''Rebooting 2020: A Story of Covid-19, and Shifting Perceptions'' survey conducted by The Mavericks India, Gen-Z and millennials have been impacted the most with 27% of Gen-Z and 19% of millennials expressing that this crisis has taken a significant toll on their mental health. Baby boomers are least impacted or perhaps better experienced and prepared to handle the crisis.
Also, women are struggling more than men as their workload has increased significantly with them carrying multiple responsibilities without any assistance from domestic helpers.
The survey also shed light on the new normal of "Work-from-home" culture and its impact. About 46% of CXOs surveyed believe that working remotely will be the most significant change in the post-COVID world. While Work From Home is quite prevalent in the western world, the concept was confined to a handful of sectors and very often, limited to a few functions in India.
Given the success of the forced experiment, many CXOs are exploring options to get a major portion of their workforce to work from home for a longer period of time post-COVID, or permanently in some cases. With salary cuts implemented with immediate effect across all industries, the WFH proposition offers saving time and money while bringing down the real estate costs for the employers significantly.
On the contrary, the workforce is itching to get back to working from office with 75% Indians finding WFH very challenging and further blurring the boundaries between work and personal lives.
Most of the CXOs expect the recovery to be slow and painful and this is likely to be reflected heavily in their decision-making as they try and navigate the turbulent times.
A whopping 72% of Indians do not expect the economy to recover in less than a year with 26% being further pessimistic, not expecting the recovery before two years. A slow recovery stacked with depleted earnings and an expectation to save more spells impending doom for discretionary spending.