CEO Pulse Review: Impact of COVID-19 2nd Wave on India Tech Sector

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NASSCOM conducted an analysis based on responses from nearly 250 industry leaders from large and small technology firms based in India (including GCCs, MNCs and start-ups), through its 2021 CEO Pulse Survey to gauge impact of the 2nd COVID19 wave.

The study – ‘’CEO Pulse Review: Impact of COVID-19 -2nd Wave on India Tech Sector’’ presents a broad analysis of impact of 2nd wave on organizations (employees, productivity and operations). The study also looks into the organizational response strategy during the 2nd wave, shifts in priorities and investment focus.

The research further assesses the emerging trends, and evaluate the outlook for 2021 for the tech industry in India, , as presented in this insights compendium.

Key Findings

NASSCOM conducted an analysis based on responses from nearly 250 industry leaders from large and small technology firms based in India

98% of organizations have >90% workforce is in remote working mode after the 2nd wave of COVID19 in April 2021, as compared to 83% organizations in March 2021; industry being very successful in scaling the remote working model during the 2nd wave

Employee Health and Safety has become the top priority for organizations across the board

Regardless of the organization size or segment, EHS has emerged as the top priority followed by employee engagement. Organizations are taking a number of steps to ensure employee safety and well-being, such as tying up with partners for hospitals and isolation centers, forming dedicated COVID response teams and enhancing employee COVID insurance cover, in addition to taking steps to accelerate employee vaccination.

Strong Resilience Exhibited by the Industry

The tech industry in India has largely been successful in containing the impact on 2^nd wave of COVID19. For the 4 week period under consideration, while most organizations report 2-3% workforce impacted, they also report nil to minimal productivity and business impact.

Hybrid Work Models to become the new normal going forward

92% of organizations are committed to Hybrid working models beyond the pandemic

2021 Outlook remains positive, with robust business demand

Nearly 89% of the organizations polled are looking to expand their workforce in 2021

Tech Investment Themes for 2021

Digital transformation, remote working collaboration tools, HR tech and employee engagement

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