(Image source from: Huffingtonpost.com)
80% of the IT companies have reported that productivity is above 75% and very large companies have reported productivity above 90%.
A survey was conducted by Hyderabad Software Enterprises Association and found out that 95 percent of the companies in Hyderabad are continuing with the work from home regime and both the big and small companies are allowing 90 to 100 percent of their employees to work from home.
Low employee morale was only reported by 34 percent of the employees though broadband issues, power cuts have been a major obstacle for the employees according to the survey.
On the hiring side, 70 percent of the large and major companies have hired the freshers in the last 6 months and 50 percent of the companies said their hiring activities will return to the pre-COVID level by 2021-22.
About 60 percent of the companies said that the lateral hiring will go in the current fiscal.
Nearly 64 percent of the current companies have reported single-digit revenues in the 2020-21 fiscal year.
In terms of the office space required, the large and very large enterprises have reported that they will need the same or even 25 percent less office than required after the COVID pandemic when the employees return to the office.
In a nutshell, the industries in Hyderabad continue to work from home and this will likely become the new norm for many companies including big and small IT firms.
Small and midsized companies are working from the office itself according to the survey who amount to 10 percent of the workforce not working from home.
A major concern however here is that the companies have reported single digit revenue and profitability this year.
However, the critical factors that may encourage the companies to return to working from office would be the vaccine availability and the reduction in the number of active cases according to the study by the researchers.
- By Gayatri Yellayi