Job market stress: Global tensions shake up Indian firms; hiring freezes, layoffs rise
Geopolitical unrest, especially conflicts in the Middle East, is beginning to reshape the Indian workplace, with over 63 per cent of surveyed employees saying their companies have frozen hiring or begun downsizing, reported news agency PTI, citing a study by Genius Consultants.
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Another 15 per cent noted a shift towards contract or freelance roles amid heightened uncertainty.
The online survey, conducted between May 12 and June 6 across 2,006 employees from various sectors, reveals the extent of the impact.
According to the report, 36 per cent of employees said their appraisals, bonuses or salary growth had been affected due to the ongoing global tensions. Around 22 per cent highlighted disruptions to international travel and business exposure, while 21 per cent cited low team morale and declining job confidence.
"This survey is a direct reflection of the times we are in. The external world is reshaping internal work realities at a pace faster than many expected," said Genius Consultants CMD R P Yadav, as quoted by PTI.
"With 63 per cent of companies freezing or downsizing and employees actively upskilling or seeking alternatives, it is clear that we are not just navigating a moment, we're transitioning into a new era of work", he added.
In response, 55 per cent of employees surveyed said they were pursuing new skills or certifications, while 31 per cent are already looking for alternative job options.
A combined 56 per cent of respondents reported varying levels of anxiety regarding their future, with 30 per cent saying they are already seeing early warning signs of further disruptions.
"Employers must remain transparent and adaptive, while employees continue to stay resilient, agile, and prepared for the road ahead", Yadav said.
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