While industry leaders Tata Consultancy Services and Wipro have announced deferring wage-hike plans, other players such as Infosys and HCL Technologies are expected to follow suit, according to industry insiders.
Infosys has emerged as the fastest growing IT services brand following 52 per cent brand value growth since last year and 80 per cent since 2020 to $12.8 billion, earning it third spot, the brand valuation consultancy said in its latest Global 500 IT Services Ranking report. TCS and Infosys have pushed IBM to fourth spot from second. IBM's brand value now stands at $10.6 billion, a decline of 34 per cent from last year and 50 per cent since 2020.
While demanding more outdoor air ventilation, the strategy document calls for a structural modification in the workplace.
Damage from new shenanigans can be contained if regulators move quickly when something does not smell right, counsels Debashis Basu.
Sanjeev Goel, business head, Manipal ProLearn, lists 10 courses that are currently most suitable for working professionals to upskill or reskill to ensure they remain of value in the job market and in future-ready organisations.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
TCS said employee addition during the quarter stood at 18,362
The government on Monday announced a one-time Rs 10,000 interest-free festival advance to all its officers and employees as part of plans to increase consumer spending to spur demand in the economy.
From improved vision to increased attention and spiritual understanding, celebrity yogini and wellness entrepreneur Ira Trivedi shares benefits of doing eye yoga.
Besides growing tech and digital enhancements, the firms are ramping up the hiring of more delivery partners and reinforcing existing Covid protocols.
Infosys CEO Salil Parekh, has praised the company's founders for building an "incredible organisation", and exuded confidence that the firm which "has always been solid" will "continue with that stability." Parekh - who steered the firm to stability after a bitter spat between founders and then-management a few years back - believes that Infosys is "well positioned" to leverage tech-led growth opportunities over the next several years. Parekh took over at the helm in January 2018, after a standoff between board and founders, including NR Narayana Murthy, over issues such as governance, led to the exit of then-CEO Vishal Sikka.
One key suggestion is to be mindful to practise respect and empathy consciously.
This year, festive sales are expected to push up the annual gross merchandise value of e-commerce companies to around $38 billion, a 40 per cent growth over the previous year.
Revenue up 15.8% at Rs 34,261 crore over year-ago period.
Lok Sabha Speaker Om Birla on Thursday said that social distancing norms will be strictly followed in the monsoon session of Parliament in view of the Covid-19 pandemic and 257 MPs of the House will sit in Lok Sabha chamber, 172 in the visitors gallery and the remaining members in the Rajya Sabha chamber and its gallery.
Several companies and technology heavyweights including Microsoft, Oracle and Salesforce are working to create a digital vaccination passport or health passport app in the hope that governments and airlines will require travellers to upload details of their Covid-19 tests and immunisation. The vaccine passport will effectively create digital credentials that could be the key to attending crowded events or even visiting countries.
With automation taking place at a much faster pace across industries especially in the tech space, domestic software firms that employee over 16 million are set to slash headcounts by a massive 3 million by 2022, which will help them save a whopping $100 billion mostly in salaries annually, says a report. The domestic IT sector employs around 16 million, of them around 9 million are employed in low-skilled services and BPO roles, according to Nasscom. Of these 9 million low-skilled services and BPO roles, 30 per cent or around 3 million will be lost by 2022, principally driven by the impact of robot process automation or RPA. Roughly 0.7 million roles are expected to be replaced by RPA alone and the rest due to other technological upgrades and upskilling by the domestic IT players, while it the RPA will have the worst impact in the US with a loss of almost 1 million jobs, according to a Bank of America report on Wednesday.
RustOrange co-founders Samik Sarkar, Shashank Agnihotri and Kuvalaya Singh share their story and learnings.
According to several industry sources in the know, expenses towards deploying contractual staffer, which used to account 10 per cent of the overall billable employee cost at IT firms, has fallen to around 3 per cent. IT firms typically use the contractual workers from staffing solutions providers or subcontractors.
The government will set up 16 new medical colleges over the next five years.
India's gig workforce is expected to expand to 2.35 crore by 2029-30 from 77 lakh in 2020-21, a NITI Aayog report said on Monday, and recommended extending social security measures for such workers and their families in partnership mode as envisaged in Code on Social Security. The report titled 'India's Booming Gig and Platform Economy' further said gig workers are expected to form 6.7 per cent of the non-agricultural workforce or 4.1 per cent of the total livelihood in India by 2029-30. Gig workers can be broadly classified into platform and non-platform workers.
Justice Rekha Palli noted that while the rules mandated appointment of a key managerial person or a senior employee as CCO, Twitter disclosed in its affidavit that it had appointed a 'contingent worker' through a third party contractor.
'Our focus on fresher induction is high, given that they come in with certain advantages.' 'They do not have an unlearning process as seen in senior employees.'
Workers of tomorrow will have to figure out how to help themselves transition to different career pathways, predicts Sandeep Goyal.
'We will take tough calls where needed in the interest of doing what is right.'
There will be a huge market for healthcare professionals, data and security experts and digital marketers, says Navneet Singh, founder, Avsar HR Services.
The Income-Tax (I-T) Department nowadays provides pre-filled forms to make the filing of income-tax return (ITR) easier. Nonetheless, you must have a number of documents handy at the time of filing return so that you can cross-check the data in the pre-filled form. "Filing ITR doesn't require you to upload any document. But in case an assessing officer makes an inquiry, you will need to present documents and certificates as proof," says Deepak Jain, chief executive, TaxManager.in.
Sources further said that Twitter is the only social media platform among the mainstream that has not adhered to the new laws.
Most large companies have curbed their hiring plans in 2018-19 because they continue to invest in digital technologies.
The pandemic helped many entrepreneurs including me realise the power of people who share your passion, says fashion entrepreneur Meghna Saraogi.
In the start-up world, hitting the $1-billion mark, which accords the "Unicorn" tag, is a milestone. Enterprises typically reach the milestone only by series C or series D, or three to four funding rounds later. Zeta achieved it at the first one. On May 25, the six-year-old banking tech firm raised $250 million from Japanese conglomerate SoftBank, at a post-money valuation of $1.45 billion. "This is the first time we have raised institutional money," Zeta co-founder Bhavin Turakhia beamed on the conference call. This trajectory is uncommon in start-ups.
Blackstone on Monday said funds managed by the private equity firm will acquire a majority stake in IT firm Mphasis Ltd, triggering an open offer for acquisition of up to 26 per cent stake for about Rs 8,262 crore. A wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), UC Investments (Office of the Chief Investment Officer of The Regents, University of California) and others will co-invest along with Blackstone, a statement said. Based on the open offer subscription, the blended purchase price will vary between Rs 1,452 to Rs 1,497 per share (12-16 per cent premium to 12-month average price and 3-6 per cent discount to 6-month average price) and the purchase consideration will vary between Rs 15,200 crore to Rs 21,000 crore (approximately$2-2.8 billion), the statement said.
'He's at best a holding-CEO. Not one who will re-imagine the bank,' a senior banker and former colleague tells Raghu Mohan about HDFC Bank CEO & MD Sashidhar Jagdishan.
Service sector and employees alike are embracing the gig economy in India.
The ministry of home affairs has made the use of Aarogya Setu app mandatory for all employees, both private and public, and pinned the responsibility for compliance on the head of respective organisations.
Social media giant Facebook has named Spoorthi Priya as its grievance officer for India on its website.
HR Guru Mayank Rautela offers practical advice.
There was a worry that such a policy would hamper businesses, create resentment among the male staff and perhaps also discourage companies from employing women. However, this has proved to be misplaced.
The New York Times reported that Lai's company Next Digital publishes Apple Daily, a fiercely pro-democracy newspaper that regularly takes on the Hong Kong government and the Chinese leadership.
While there has been an improvement in the overall demand environment, the other reason expected to trigger this growth is the absence of a bench strength in most companies
