63% Indian firms freeze hiring amid geopolitical tensions: Report
Geopolitical tensions, including wars in the Middle East, have impacted the Indian workplace with 63 per cent of respondents confirming that their companies are either freezing hiring or downsizing teams, claims a report. Combatting workplace burnout: Expert strategies for employee wellbeing (Image by macrovector on Freepik)
Over 63 per cent of respondents said their companies are either freezing hiring or downsizing teams with another 15 per cent noting a visible shift toward contract-based or freelance roles as the geopolitical tension escalates, the report by staffing solutions and HR services provider Genius Consultants has claimed.
The report is based on an online survey among 2,006 employees from across sectors in the country during May 12 to June 6.
Further, the report revealed that 36 per cent of the employees interviewed stated that their salary growth, bonuses, or appraisals are affected in light of geopolitical instability.
Over 21 per cent said there is an increase in workload pressure and project timelines while 22 per cent reported that international business exposure or travel is disrupted, and 21 per cent stated that team morale and job confidence are taking a downturn, it added.
The report said that 30 per cent of employees admitted that they are extremely worried and are already witnessing early warning signs while 26 per cent described themselves as mildly concerned and closely monitoring the situation.
In such a scenario, the survey found that employees are taking action, with 55 per cent of respondents upskilling or enrolling in new certifications, and 31 per cent starting to explore new job opportunities or backup roles.
"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. 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.
"Employers must remain transparent and adaptive, while employees continue to stay resilient, agile, and prepared for the road ahead," Genius Consultants Chairman and Managing Director R P Yadav added.
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