A CONCEPTUAL STUDY ON THE IMPACT OF COVID-19 PANDEMIC IN MANAGING WORKFORCE RISK – AN INDIAN PERSPECTIVE

Abstract

Covid-19 pandemic became a severe threat to the world economy including the Indian economy.This pandemic had an adverse effect on the entire population and unpredictable attacked the life of the people.When progressive approach was shown in India, the first wave of the global pandemic resulted in the complete lockdown further this resulted in a bigger hit on the industry performance Workforce was also severely affected as there was separation of workplace and the workforce,wherein the contribution was made virtually.Basically this has created deterioration in workforce quality and the operations of various businesses were also stagnant. On the other hand the government's decision to lockdown also resulted in financial instability, job loss, and individual financial crisis, lack of job opportunities, economic imbalance and loss of assets and also showed illness, medical and health issues and even deaths.This shows directly or indirectly it has affected the individual and their families.As a result, this slowdown in the operations resulted in depression among workforce. The present research study is conducted to evaluate the impact of pandemic on managing the risk of the workforce and to find the measures taken for the recovery and planning done to prepare for continuous activity which made to protect at any situation like second wave of corona virus.An Extensive review of literature has been made to collect the sufficient data for analyzing the issues related to management of workforce.Based on the reviews identified for the study,findings and conclusion has been drafted to throw lights issues related to the workforce in Indian perspective.