'Some people even boldly ask for a 100% increase in the salary.'
Employees of some top Indian companies were in for a pleasant surprise when they received a mail from their HR team announcing a hike in salaries and bonuses. Led by IT firms and start-ups, HR managers say that while some have offered cash and stock options, others are in a wait-and-watch mode and add the trend will pick up in other sectors. For example, IT giant Cognizant - which had an attrition rate of 19 per cent in the December quarter - has established a $30-million employee retention fund in order to bring down the high attrition rate.
Candidates need to be agile to understand the situation, be receptive to unlearn and learn and adapt accordingly, advises Sanjeev Verma, vice president-HR, STT GDC India.
Last year, it was not just the economy that slowed hiring. Employers were also unable to complete the verification process because of the lockdowns, resulting in delays in hiring and an increase in discrepancies between an employee's professed abilities and the reality. The experience is driving many companies to automation. In a recent EY survey, 56 per cent of the companies said they'd automated their processes, while 72 per cent felt technology could be leveraged to digitise employee records.
According to experts in human resources, even joining of new graduates is likely to be staggered as companies are expected to onboard staffers after gauging the demand scenario.
The Oscar winner tells Subhash K Jha how Hrithik's voice was used to sound like various characters in Kabali.
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.
Flipkart has promoted several of its leaders into newer roles at a time when the Walmart-owned e-commerce giant has internally raised its IPO (initial public offering) valuation target to about $60 billion and aims for a US listing in 2023, according to the sources. "I am delighted to announce the promotion of some of our exemplary leaders," said Kalyan Krishnamurthy, chief executive officer, Flipkart Group, in an internal note, and which has been reviewed by Business Standard. "Each of them has been instrumental in delivering impact and creating long-term value for Flipkart.
Fresher hiring is expected to more than double compared to last year.
Adapting to the new hybrid normal of remote and office work, cautiously optimistic corporate are looking to hire more people and provide better appraisals in the new year as they step out of the pandemic-ravaged 2020. The coronavirus pandemic emerged as the biggest inflection point for the Indian job landscape. For the corporates, work-from-home and remote workers became the new normal and for the professionals, online learning and digital skills took centrestage.
The Union Cabinet on Wednesday approved 'Mission Karmayogi', dubbed as the biggest bureaucratic reform initiative, aimed at capacity building of government employees to make them more "creative, proactive, professional and technology-enabled". The core guiding principles of the competency-driven programme will be to support a transition from "rules based to roles based" HR management to prepare the Indian civil servant for the future, according to a government statement.
India Inc may have been spiralling salaries in the recent years, but not anymore as double-digit pay hikes can well be a 'thing of the past', thanks to the financial crunch forcing corporates to embark on cost-cutting spree.
Vempati previously worked with Infosys and now heads an online media company.
The modern hardware on the Pulsar AS 200 makes it excel in almost every department, which the dated Karizma and Pulsar 220F find hard to match up to, says Indian motoring website MotorBeam.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
With the hybrid model in place, employees can take advantage of the working from office to build better working relationships, trust, and comradeship.
With the changes in the workplace, in-demand skills, flexibility and being tech-savvy will help you save your job.
NITI Aayog recommendations cite the need for greater industry-academia collaboration to meet skill demand
While you cannot avoid the delay in payments from your customers, you must come up with new ideas on building your internal cashflow system to ensure that the cash crunch within the organisation is minimal, suggests Naval Goel.
Amid the ongoing festival season in the country, the hiring of gig workers has zoomed across sectors as the businesses have begun opening up leading to an uptick in consumer sentiments and rising pent-up demand, according to experts. "In the third quarter, with the onset of festive season, we are witnessing a 400 per cent spike in the hiring for gig workers. Earlier, in the first quarter of this year, as many businesses and companies were not operating at full strength, growth was muted. "However, things began picking up and became more promising from the second quarter, as the demand for gig workers across sectors grew," Taskmo, a subsidiary of Quess Corp, co-founder Prashant Janadri told PTI.
Reliance Jio test launched its services last December, but dates for commercial launch has not been announced.
It had reorganised its India business by carving out public sector undertaking and government businesses. Besides the company had also split its India and West Asia businesses.
With the dizzying rise in the number of Covid-19 cases in the country, India Inc has transitioned from a wait-and-watch policy to full-on emergency mode, bringing back remote and flexi work, stringent safety protocols, and allowing only essential travel. Companies - especially in metros like Delhi, Mumbai and Kolkata - that had adopted a hybrid work model during the last few months when the caseload remained low, are either switching back entirely to work-from-home (WFH), or calling skeletal staff to office on select days. Take the case of cigarettes-to-hotels major, ITC, which had been on a hybrid work model over the last few months.
Industry experts are of the opinion that the spurt in recruitment happened as IT services firms went aggressive on hiring in anticipation of a strong demand environment.
147 domestic and international recruiters -- including Ola, Amazon, Flipkart and Xiaomi -- hired all 460 graduates.
Asked whether the three men were indeed labourers, as claimed by their families, and not involved in terrorist activities, the J-K Police said it is a matter of further investigation. On July 18, the Army had claimed three terrorists were killed in Amshipura village in the higher reaches of south Kashmir's Shopian.
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.
Global IT firms seeing dearth of talent in countries such as US, looking for people with such skills from countries like India
TCS said employee addition during the quarter stood at 18,362
As per Hewitt's annual Salary Increase Survey 2009-10, the double-digit hike in salaries are anticipated for this year led by sectors like telecom, engineering, pharma and energy.
In the light of the current economic slowdown, what raise do you expect?
You have to make yourself visible and create opportunities for yourself, advises Gaurav Goyal, co-founder, Scalenut.
One key suggestion is to be mindful to practise respect and empathy consciously.
'The skills and abilities of civil servants are still respected, even though they become whipping boys when things go wrong.'
India has demonstrated a double digit growth in salary hike for the fourth year running, the highest in Asia Pacific region, with global HR consulting firm Hewitt Associates forecasting an average 14.5 per cent wage hike in 2007.
Candidates should be comfortable working in both online and offline environments, says Jeevan J Arakal.
Backed by China's Tencent and Prosus NV, Swiggy has around 8,000 employees.
Squeezing growth prospects in IT services firms and higher compensation in technology centres run by global companies are the two factors driving this trend.
The role of AI spans coaching, performance, learning, engagement and career growth.
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