Post Covid Impact on Industries and Realignment of Compensation & Benefits in India
Covid had a significant impact on industry rules and processes last year. HR role has significantly expanded, with additional responsibilities to ensure business continuity and drive employee engagement. People's mental health, sense of well-being, and sense of belonging have all suffered as a result of these lockdowns. Key areas in focus are Employee Retention, and evolving motivational and aspirational needs. Introduction of Recognition schemes and Group Term Life insurance, Equipping & supporting employees, Outreach programs, safety and customer engagement, and Support to family. Business Impact on Different Industries like Automobile Industry, Manufacturing, FMCG, Information Technology and based Industries, Banking, Financial Services, and Insurance sector (BFSI), Retail, Telecom, Tourism, Apparel, and textiles. Strategies/ Protocols followed for Reopening of industries and Impact of COVID-19 on Annual Increment 2021
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