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.
HR can make better hiring decisions with solutions powered by robotics & machine learning.
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.
'We are anticipating that the hiring trend will continue to see double-digit growth at least for the current financial year.'
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.
Fresher hiring is expected to more than double compared to last year.
Squeezing growth prospects in IT services firms and higher compensation in technology centres run by global companies are the two factors driving this trend.
For Krish Shankar, executive vice-president & group head of human resource (HR) development at Infosys, the defining moment of the pandemic on the HR department has been the importance that reskilling and learning have managed to get. For Infosys, the focus on reskilling started three to four years back as business saw a shift towards digital, and the pandemic has really brought the importance of reskilling to the fore. "In the past, certification courses or taking up an e-learning course was just a way towards promotion, and was not taken too seriously.
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.
IBM started using Watson last year in India in two of its key divisions, services and infrastructure, for the bulk of its 150,000 employees as part of its "predictive retention" programme.
Mark Zuckerberg, founder and CEO of Meta, summed it up well as he explained the reason for the company sacking 13 per cent of its employees. He said no one predicted that the boom for digital services during the Covid pandemic would die out. "Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended.
UK-headquartered consumer goods giant Unilever on Tuesday announced a major organisational shakeup to make the company leaner, which involves some of its Indian-origin executives, and plans to lay off 1,500 staff as part of the wider restructuring of its global operations. Sanjiv Mehta retains executive leadership of Mumbai-headquartered subsidiary Hindustan Unilever, while Unilever chief operating officer (COO) Nitin Paranjpe will take on a new role as chief transformation officer & chief people officer, leading the business transformation and heading the HR function for the transformed organisation. The company said Sunny Jain, president of beauty & personal care, has decided to leave Unilever to set up an "investment fund in technology megatrends".
Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting with the government over the fallout of Silicon Valley Bank's collapse. Rajeev Chandrasekhar, minister of state for electronics and information technology, held a virtual meeting with over 450 members from start-ups, venture capitalists, and investors who have been directly affected by the closure of SVB. He assured them that the IT ministry would put together a list of suggestions and give it to the finance minister on behalf of start-ups.
With the hybrid model in place, employees can take advantage of the working from office to build better working relationships, trust, and comradeship.
The best possible way to deal with job uncertainty is accepting the fact that it could happen to anyone and if it does, then it is important to work on a multi-pronged strategy on how to get through it in the best possible manner, advises Sumit Sabharwal.
What do you do when you've lost your job during the lockdown and are unable to get another one? Get expert advice from HR Guru Mayank Rautela.
NITI Aayog recommendations cite the need for greater industry-academia collaboration to meet skill demand
An internship at EY is a dream come true for finance graduates, MBA, CA, and commerce students, says Sarvesh Agrawal.
'Despite being limited to my house, I was able to interact with a diverse set of people, to try and understand consumer behaviour.'
German luxury carmaker Audi on Thursday launched a new version of its flagship SUV Q7 in India with prices starting at Rs 79.99 lakh (ex-showroom) as it seeks to further accelerate growth in the country. The locally assembled vehicle is powered by a 3-litre petrol engine with a 48V mild-hybrid system generating 340 hp. It can accelerate from 0-100 km/hr in 5.9 seconds. The new Q7 will be available in two variants -- Q7 Premium Plus and Q7 Technology -- priced at Rs 79.99 lakh and Rs 88.33 lakh (ex-showroom), respectively.
Backed by technology banks are expanding the branch network - and adding more to the workforce.
The new definition under the Code of Wages, 2019, includes three components: basic pay, dearness allowance and retention payment.
The Bentayga can go from a standstill to 100 km/hr in 4.5 seconds, and, if you can keep your foot down, the speedometer will climb all the way to 290 km/hr!
Italian luxury sports-car maker Automobili Lamborghini on Friday launched Huracan LP 580-2 in India priced at Rs 2.99 crore (ex-showroom Delhi).
To further strengthen the supervision on non-banking entities (NBFCs), the Reserve Bank on Tuesday issued revised guidelines on a Prompt Corrective Action (PCA) framework for such companies, excluding government-owned ones, effective from October 1, 2022, on the lines of what it had introduced for banks in 2002. The RBI came up with stricter supervisory norms under the PCA framework for banks after their bad loans mounted and balance-sheets bled badly. This involved restricting them from fresh lending, brand opening and, hiring, among others. The RBI said the revised PCA framework is also applicable to all deposit-taking non-banking financial companies (NBFCs), all non-deposit taking NBFCs in the middle, upper and top layers, including investment and credit companies, core investment companies, infrastructure debt funds, infrastructure finance companies and microfinance institutions.
'Some people even boldly ask for a 100% increase in the salary.'
This is expected to benefit subcontractor firms such as Manpower Group, Randstad, Adecco, Kelly Services, Allegis Global Solutions and a host of other boutique staffing firms which supply skilled manpower to technology companies in the US.
iPhone SE 2020 is one of the popular phones like Apple 11, which is the biggest seller in the domestic market.
Nikunj Saraf, Vice President Choice Wealth, will answers your queries.
The model is loaded with various safety features including six air bags, anti-lock braking system with brake assist, dynamic stability control, including dynamic traction control, cornering brake control, among others.
Hay Group, a global management consultancy, in its annual General Industry Compensation Report covering all levels of management, expects a pay increases of an average 11.2 per cent across job roles in 2013.
It's aimed at new-age sectors like e-commerce and other startups so that they can spend less time in their recruitment processes
HR guru Mayank Rautela has some suggestions.
Raja Shanmugham, chief people officer, Happiest Minds Technologies, discusses the company's HR policies, six qualities that one needs to have to fit the bill at the company, how they measure their company's happiness quotient, his challenges and why the company will not be impacted by another storm brewing in the US economy.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Car comes in two variants - 911 Targa 4 and 911 Targa 4S.
Pinky Irani alias Angel, 53, was arrested in this case by the agency in December last year. She was recently granted bail by a Delhi court.
The company is also looking at creating an algorithm-based talent marketplace and an internal gig workers' community. Talent Cloud will be powered by Algo Talent Development, enabling associates to move across different technologies and industry domains.
