In late February, the sudden onset of the Russia-Ukraine Crisis caused dramatic shifts in the global workforce. Business leaders had to make critical decisions on how best to assist their employees in many impacted areas. Designed to help inform these decisions, this survey covered key areas such as inflation and currency devaluation.
Devaluation of local currency coupled with evacuation plans could cause strained financial situations for individuals and families in affected areas. Our survey revealed that 46% of companies are providing salary advances and 42% financial assistance for local employees in Ukraine, while 26% and 26% respectively are providing the same assistance for their Ukrainian gig workers.
However, 52% of companies with employees in Ukraine are not assisting to offset the impact of inflation. For the 48% who are providing assistance, 12% are providing lump-sum payments, 8% are reviewing wages more often and 4% are adjusting base pay. Similar trends are found for Russian employees where 60% of companies reported no assistance to offset the impact of inflation.
Click here to view the full results of the Russia-Ukraine Crisis Pulse Survey