Labor costs are now rising by 50 per cent due to labor shortages

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Ahmedabad, dated 12 May 2020, Tuesday

The increased prevalence of the corona virus has led to a sudden shortage of repatriation by workers from across the country, posing a new challenge to various producers. The resulting labor shortage has put companies and small and medium-sized enterprises across the country at a disadvantage as well as increasing their labor costs and increasing their financial burden.

Despite some concessions given by the government to various industries to start operations amid the implementation of the lockdown, these industries were facing other adversities including logistics as well as transportation. The issue of workers has now arisen there. Workers from across the country have been waiting for their homes due to the adverse conditions caused by the Koro epidemic. Which has led to a labor shortage. Among them, this problem has arisen in sectors like manufacturing process, construction, consumer goods and e-commerce. The issue will also prove to be a major hurdle when the manufacturing sector starts operating on a large scale after the lockdown opens.

The absence of workers for other industries, including the manufacturing sector, has become a moot point after approval was given to start operations in the lockdown. In some industries, wage rates are being raised to prevent migrant workers from returning to their homeland. There are also reports that their other demands are being accepted. On the other hand, the salaries of staff for e-commerce and warehouse delivery have also been reported to have been significantly increased. Thus, on various fronts, the cost of many such units has increased.

According to various industries, payments, depending on location and operation, have increased by 5 to 20 per cent over the previous normal period. This high salary is likely to be maintained for at least the next six months.

Online grocers have been successful in growing their business during the lockdown, but their costs have increased, creating a hostile situation.

Consumer companies are also considering raising their spending by 15 to 20 per cent on this issue. Attendees have to pay massive overtime to meet staff shortages.

According to various industries, the workers are unlikely to return in the near future due to the Corona epidemic. This situation is likely to worsen in the near future when the lockdown situation eases. Thus, the issue of workers will prove to be difficult in the future as well as the financial burden will also increase.

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