^India is experiencing severe hiring cutbacks, according to a recent study released on Monday, showing that permanent staff recruitment has decreased by 61 percent over the last 12 months.

From October 2021 to September 2022, data were collected from more than 25,000 Indian workers working at more than 1,000 companies in 20 different industries.

A recent report from Razorpay's business banking platform RazorpayX Payroll reveals a 1,300% decline in hiring for chief experience officers (CXOs).

Due to the changing dynamics of the startup environment, employment trends have changed significantly over the last year.

The Indian startup ecosystem has proven to be robust and adaptable despite recent challenges. Taking macro forces into consideration, entrepreneurs have formed smaller but more powerful teams to maximize their workforce. Many businesses are cutting their workforces in the midst of the financial winter.

Another report from my back-of-the-envelope assessment indicates that startups and major tech firms have laid off more than 5,000 Indians in the last month. 

According to some predictions, the Indian economy is anticipated to lay off 16,000 workers by the end of 2022. It seems nobody's job is safe, not even at global behemoths like Twitter or Byju's.

Even though there was a decrease in hiring, the total wage paid to full-time employees increased by 64.7%. It was noted in the survey that the increase in income, particularly among the highest-paid professionals, is not distributed equally between the sexes.

Although employment has declined overall, technology hiring appears to have been the least affected. Technology-related occupations have managed to slightly boost their contributions to the total workforce by 4%, even though the hiring trend has generally slowed down.

A Look at the Gig Economy

It is apparent that companies prefer gig workers over permanent employees as the number of permanent employees has declined. The number of payments made to gig workers has grown by 153% since October 2021. A semi-gig worker model is now being used by 15% more businesses than it was previously.

According to the survey, the majority of semi-skilled gig workers employed by startups earn less than Rs 20,000 per month, followed by those who earn between Rs 20,000 and Rs 40,000.

Interestingly, these employees have among the weakest growth rates, averaging 26% and 52%, respectively.

Research shows that competent gig workers with earnings between Rs 85,000 and more than Rs 150,000 have experienced the fastest growth over the last year, even though they contribute the least to the overall pool.

^The COVID-19 pandemic has upended lives and disrupted the normal rhythm of society. It's no surprise that many people have been struggling with their mental health during these trying times. 

However, a recent study published in the peer-reviewed medical journal BMJ is shedding light on a surprising finding: in general, people's mental health has remained remarkably resilient despite the pandemic. 

In this article, we will take a deep dive into the findings of the study and explore what they mean for mental health surveillance and policy. 

So, buckle up and get ready to learn about the power of the human spirit and the resilience of our mental health during challenging times.

The Study

In the study published in BMJ, researchers assessed the impact of the pandemic on mental health by analyzing 137 studies from around the world. The findings challenge some of the commonly held assumptions about the pandemic's effects on well-being.

Breaking Down the Data

The study analyzed various mental health indicators, including general mental health, anxiety, and depression symptoms. The researchers compared outcomes assessed from January 2018 to December 2019 with those assessed from January 2020 and beyond, with a focus on any changes that may have occurred.

Contrary to Popular Belief

Contrary to what many people might believe, the report suggests that the pandemic's overall impact on mental health has been relatively minor. In fact, the vast majority of analyses showed no significant changes in general mental health, anxiety, or depression symptoms.

The Nuances of Mental Health

While there were some small negative changes in mental health among certain subgroups, such as women and parents, the overall picture painted by the data is one of resilience rather than crisis.

The Importance of Continued Monitoring

While the report's findings are encouraging, they are by no means a reason to become complacent. The pandemic's impact on mental health is a complex and evolving issue, and continued monitoring and support will be essential in the months and years to come.

A New Perspective

As a whole, this report challenges our assumptions about the pandemic's impact on mental health. It highlights the need not to underestimate the capacity of people to recover after a crisis. As HR professionals continue to navigate these unprecedented times, it is important to keep this new perspective in mind and to continue providing the support that employees need to thrive.

Implications for HRs

In the wake of the COVID-19 pandemic, HR professionals have faced unprecedented challenges in maintaining the well-being of their workforce. 

The BMJ study's findings offer valuable insights for HRs looking to create a supportive and resilient workplace culture. Here are some key implications of the study that HRs should keep in mind to support the mental health of their workforce.

Prioritize Mental Health Support

While the study shows that most people have been resilient in terms of mental health during the pandemic, it's important to remember that certain groups, such as women, parents, and those in the LGBTQ+ community, experienced small to medium negative changes. 

HRs should prioritize providing mental health support to employees, especially those in vulnerable groups.

Foster a Resilient Workplace Culture

The study's findings also suggest that people are generally resilient in the face of adversity. HRs can foster a resilient workplace culture by providing resources and support for employees to cope with stress and challenges. 

Access to counseling services, mental health days, and flexible work arrangements are all examples of how this can be done.

Continue Mental Health Surveillance

The study highlights the need for continued mental health surveillance, especially during times of crisis. HRs should work with management and employees to monitor the mental health of the workforce and address any concerns in a timely manner. 

Employee check-ins, anonymous feedback mechanisms, and mental health training for managers can all contribute to this.

Closing Thoughts

The BMJ study provides a nuanced understanding of the impact of the pandemic on people's mental health. HR professionals can use this information to support their employees better and create a more inclusive and supportive workplace culture.

At The Wellness Tribe, we understand the importance of creating a holistic approach to employee wellness, including mental health. Our corporate wellness solutions are tailored to meet the unique needs of your organization and can help you promote a healthy and supportive work environment. 

If you need any assistance in implementing employee wellness programs or resources, don't hesitate to reach out to us today. Together, we can prioritize the mental health and well-being of your workforce.