NEW YORK, May 21, 2020 /PRNewswire/ -- A comprehensive study was carried out in April 2020 by the global executive recruitment and consulting company Kroll Consulting. The survey gathered inputs from Israeli tech employees working in global or globally active companies.
Israel, 'the startup nation', ranks third in the world in the number of Nasdaq listed companies after the US and China.
Ronit Kroll (CEO, Kroll Consulting): "Survey Tech sector comparative analysis indicated a relatively significant strength and durability of internet, and E-commerce companies, during the Coronavirus crisis. In this sector employees have expressed the highest levels of support for management actions, communication and strong belief in companies' strength."
100% of employees surveyed working in internet and E-commerce companies expressed confidence in the company's leadership team to make the right decisions during this time and feel management is communicating effectively with the employee.
None of the employees surveyed in this sector feel there is a concern the company will have huge financial difficulties because of the coronavirus crisis.
81% Internet/E-commerce employees noted there were 0% layoffs in the company and only 38% are expecting layoffs in the next months due to the coronavirus crisis (compared to 61% in the all sectors). Most layoffs are expected in HR, Finance and Admin.
85% of employees were still employed full time, only 5% were on temporary paid or unpaid leave, 10% were working part time and 0% respondents' positions have already been made redundant.
Survey results have also proven significant resilience of large companies (1000 employees and up) during the crisis as employees in large companies expressed the highest levels of job security, trust in management actions and reported relatively low levels of layoffs and downsizing parameters.
Professor Yoram Kroll, PhD, specialist in economic rehabilitation, stock market and company evaluation: "Positive inputs gathered from Internet and E-commerce employees in April are aligned with current striking YTD returns of E-commerce giants stocks such as Amazon (35.18%), JD.COM ( 54.16 %), MercadoLibre (44.82 %) and PayPal (39.54%) beating the market as a result of a surge in demand for E-Commerce services and customer acquisition due to lockdown and social distancing, driving stock prices higher."
(Survey has polled 300 Israeli Hi-Tech employees, 99% confidence interval with 4.4 % margin of error).
Kroll Consulting is a global executive search company.
SOURCE Kroll Consulting