This is the 14401st most frequent Russian word.
отразится
"Will reflect" or "will affect."
Here, 'отразится' is used to describe the effect the economic situation will have on the standard of living.
Экономическая ситуация отразится на уровне жизни.
The economic situation will affect the standard of living.
The word 'отразится' is used here to indicate how the decision will have an impact on the plans.
Это решение отразится на наших планах.
This decision will affect our plans.
In this sentence, 'отразятся' denotes the influence or consequences of changes on the employees.