LOCAL REGULATIONS COMPLIANCE MEASURES FOR JOB RETENTION OF EMPLOYEES DURING COVID CRISIS THROUGH ADAPTABILITY FACTORS ON MONETARY FRINGE BENEFITS

Abstract

The aftermath of COVID-19 has been increasing the rate of job losses and unemployment crises all around the globe. It has mostly affected the financial growth of a country and reduced the ability of the inhabitants to cope with the increasing rate of cost of living all around the globe. The disruptive scenario of business during the COVID pandemic has caused critical financial and operational loss for a large number of business companies in the worldwide market. The fear of exposure to the covid virus and the threat of infection of the covid has reduced performance and a large number of employees quit their jobs during the pandemic. The mental vulnerability and physical risk mostly caused a serious reduction rate in employee retention rates all around the globe. The government and the administration in various areas provide key support and monetary fringes to enhance the job retention rate of the employees within different places which helps business companies to face lesser disruption in business during a pandemic. This study aims to evaluate local regulations and compliance measures for job retention of employees during covid crisis through adaptability factors on monetary fringe benefits. Secondary qualitative data has gathered within the process while the pieces of information onward 2019 in authentic and peer-reviewed sites were taken as the inclusion category within the study.