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COVID-19 pandemic to slow down business globally

COVID-19 pandemic to slow down business globally

With the ongoing increase of coronavirus cases in India, corporates are taking measures towards employee safety and supporting government initiatives in preventing further spread of COVID-19.

 

While many companies have shut operations and allowed employees to work from home, others have laid restrictions on domestic and international travels especially to virus-hit countries like China, Japan, Italy, and Singapore.

 

Organisations are also taking caution by checking the travel history of the candidates.

 

The preventive measures are being implemented with great rigor such as putting hand sanitizers at entry and exit points, and visitor desks, asking people to refrain from handshakes, disinfecting and sanitizing the office premises, regular announcements for responsible behaviour, distribution of N95 masks, etc.

 

India Inc is affected by this novel bug with a clear indication of an economic slowdown. The recruitment processes are on hold only to fill up critical positions. This slowdown of business is anticipated to give way to fresh hiring in the near future. The pre-placement offer conversions may intensify during the year giving momentum to hiring.

 

This is also paving a new innovative way for virtual hiring processes with the use of technology including digital screening and interviews over videoconferencing.

 

The resignations are taken into account for the downsizing rather than hiring their replacements. The B-schools recruitment was reduced to half to what it was two years back and is expected to reduce furthermore this year by almost 50 percent.

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