Professional Documents
Culture Documents
April 2020
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CONTENTS
B D
Industry
Talent Insights
Perspective
Organization's
responses &
Economic
Initiatives
Impact
Survey
Target Audience: 56 CHRO’s across 7 industries to gain
insights of the pandemic impact on people practices.
Industries Surveyed
• Auto Ancillary • Engineering
• Agrochemicals • Packaging
• Chemicals • Pharmaceutical
• Consumer
Focus Areas
• E - Joining
• Impact on hiring
• Downsizing
• Impact on Compensation
• Appraisal & Increment
• Work from home
• Digitization
• New Skills & Training
• Aarti Industries • DCM Shriram • Jindal Poly Films • PSA Groupe
No
38%
No Yes
Yes 35%
62% 55%
Comment:
• 35% respondents will honor all employment offers including that of campus hires.
Impact on Future hiring Downsizing
Uncertain Yes
11% 3%
Yes
Uncertain 13%
16%
Deferred
18%
No
No 86%
53%
Comment:
• 53% respondents do not foresee any impact on their future hiring plans while 13% have decided on
a hiring freeze.
Yes
14%
Uncertain Uncertain
21% 19%
Yes
44%
No
37%
No
65%
Comment:
• 65% respondents confirmed that they would maintain their current compensations.
• 6 of the 56 companies surveyed followed the calendar year for their increments. In these cases,
increments were already completed, while for the balance 50; 44% of those would continue with
their planned increments.
• 19% respondents have decided to defer their increments to the second half of the year.
Work from Home Digitization
Somewhat
Somewhat
10%
3%
Yes No
13% 8%
No Yes
77% 89%
Comment:
• 77% respondents confirmed that their non-manufacturing staff is effectively working from home
albeit with few initial hiccups.
• 89% respondents owing to technology tools could smoothly implement work from home.
New Skills & Training
Ongoing
Process
31%
Yes
53%
No
16%
Comment:
• 53% respondents implemented skill development trainings while for 31% it was an ongoing process
and 16% used webinars focused towards wellbeing and motivation by inviting guest speakers.
Employee wellbeing and safety has taken a precedence as compared to business.
Cross Functional Teams were created to enhance communication across all levels.
Various Trainings were imparted for stress management and focus on mental & physical
wellness.
Food, transportation and medical facilities to blue collared and contractual workers and
in some cases this was extended to the nearby communities.
Technical trainings were virtually conducted with manufacturing teams and the time was
utilized to prepare dossiers with regards to safety, manufacturing excellence and
standard operating processes were revised.
Manoj Sharma
Senior Vice President & Chief Human Resources Officer
Aarti Industries
"This global pandemic has had a deeper impact on people's thoughts and actions. Uncertainty created by COVID 19 has opened vistas
for people to serve others unconditionally, provide leadership in small and big challenging situations and to take care of the wellbeing of
self and others. What I have witnessed in my company is the powerful work ethics, the true character of employees as frontline soldiers,
and an engaging leader who is ready to face and overcome any challenges. Personally, the importance of communication, humility,
care, and fast decision making has never been felt so acutely until this uncertain time fell upon us. For our sector, the outlook is positive
with less impact on demand and revenue as most of the products/businesses are in the essential category and managing the
operational challenges is the key to our success".
Krishnan Vaidyanathan
General Manager - Human Resources
Asian Paints
The talent landscape will face a short-term supply constraint as talent will prioritize the safety and security over mobility. However, once
the recovery starts to happen, organizations will have to change how work happens, how work is organized and how work is managed
to continue to attract the right talent.
K S Harish
Country Group Human Resources Head – South Asia
Bayer Group
The talent in the Life Science industry will be even more purpose focused as the current situation has highlighted the basic tenets of life;
volunteering which is a natural ingredient for leadership will get further enhanced in industry and society will be the school for corporate
leadership.
This unprecedented crisis have impacted the whole world economy and all kinds of industries. The pharmaceutical industry is perhaps
one of the few industries that continues to operate, despite of on ground challenges. The employees are inspired to come to work to
deliver the passion of service to patients. Many opportunities have emerged for the Pharma industry globally as India continues to be
the preferred destination for supplying to the world across various therapies.
Sushil Baveja
Executive Director, Human Resources
DCM Shriram
I think this pandemic has provided the talent a first hand learning opportunity in dealing with complexities and uncertainties. It would
fast track their development and ability to contribute to the business growth going forward. As things are still evolving and unfolding, it
would be too early to say anything with certainty or precision. But, on an overall basis, the outlook seems positive and has the potential
to contribute to the growth of the economy.
Kallol Chakraborty
Head - Group Corporate Human Resources
Gujarat Fluorochemicals Ltd. / Inox Wind Limited / Inox FMCG
People will stick to their jobs to have a secured future in these uncertain times and organizations would stick to in-house talent as
organizations would not like to add headcounts and costs. Industry would have conservative growth as demands would be uncertain
till the “new normal” sets in as a way of working where demand for “feel good” products would see a downward trends. However,
agro-chemicals and pharma may not see a major growth issue due to the current lockdown.
Yogi Sriram
Advisor Group Human Resources to CEO & MD
Larsen & Toubro
The infrastructure sector will get a boost through government spending in our opinion, since this sector generates large employment
opportunities. An impetus for improving the employment scenario is badly required by the country. L&T, therefore, has a very good
opportunity. Increased spending on the infrastructure sector is a definite way for the country to progress. L&T has a strong employer
brand with very sound HR systems and great learning opportunities and we are confident about our ability to attract and retain good
domain talent in these troubled times which we hope will end soon.
Vikram Bector
President & Chief Human Resources Officer
Piramal Enterprises
The workplace, the worker and the nature of work have undergone a dramatic shift. Agility, extreme collaboration, network insights and
digital business models are here to stay. It is critical for everyone to pause, reflect and redefine their responses to be successful in the
new world of work.
Sarada Jagan
Managing Director, Human Resources & Corporate Services
Sanmar Group
There is a new normal that would need to be written on managing and developing talent, as the definition and perspective of work
would undergo a change. The emphasis on ability to deal with ambiguity, dealing with the unknown with clarity of thought and ability
to lead the team and execute well in difficult and uncertain times will be a few that would gain importance as key leadership
competencies. Approaches to work and performance will never be the same and the excuse of saying 'it is not possible' or stating
that 'only some ways will work' will be even less acceptable!
Manoj Sethi
Executive Vice President Human Resources, Finance, Legal & Information Technology
Subros
“What will define the outcome of the current situation will depend upon whether the Leadership in the organizations, countries & the
leader within each one of us ”Responds” or “Reacts” to the situation on hand. A well thought out determined “Response” with
absolute Clarity & reality Conviction” on what is the desired Outcome will help strong minded leaders see and encash the
opportunities that the COVID 19 holds for all of us”.
Sharad Gangal
Executive Vice President Human Resources, Admin, Industrial Relations and Member of Exec Council
Thermax
In short term, the engineering industry - manufacturing and EPC included will go through uncertain times as we grapple with Supply
Chain disruption, availability of manpower etc. However, in the mid-term due to geo political changes the pendulum of
manufacturing will be in favour of India and it augurs well for employment generation. The massive investment Government intends in
infrastructure will also give a boost to job creation. The lessons learnt of new ways of working during lockdown will make the
Engineering Industry more competitive.
Scenario 1
An optimistic situation that shows a temporary impact of COVID-19 and a V-shaped
recovery. Under this scenario, the impact could be controlled efficiently by June
2020. With government’s effective actions India’s economy could revive from Q2
FY2021 onwards.
Potential
Scenario 2 case
In this scenario, India may see limited success in controlling the spread despite focused
public healthcare & fiscal policy efforts. With this, the current lockdown may extend until Sep scenarios for
2020. Some industries will face pressure as rising debt and defaults affect market sentiments,
stress the financial sector, and reduce domestic demand. Indian
economy
Scenario 3
A situation with a prolonged severe downturn leading to extension of lockdown until
Q4 FY2021. A steep decline in demand will lead to production cuts. The situation will
ease only in Q1 FY2022 and over the next 2 years, economy may grow by 1.5 – 2%
with unequal recovery across sectors.
Source: Deloitte
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