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.
While FMCG companies were not barred from carrying out their operations during the 21-day lockdown, since most manufacture staples and essential products, capacity utilisation remained poor, owing to the restricted movement of raw materials, finished goods, and labour.
SBI chief Rajnish Kumar said the focus going forward will be on cost reduction, rationalisation and reskilling of workforce, improving staff productivity and redeployment of workforce from admin offices to sales roles.
Some doctors were absent from duty for 20 years, others for 15, some for 12. About 64 doctors remained absent from duty for more than five years.
Pharma companies gear up for the 'new normal' as they train and align their sales forces for a paradigm shift. GSK leads the charge with staggered return-to-work, others plans yoga sessions and health care webinars for salesperson's family.
Training a person for 16 weeks (4 months) in the US costs something like $50,000 (around Rs 21.25 lakh). However, the education system is much better in the US. So we provide short-term training courses of about 15 days for new recruits there
Unacademy is conducting another round of job cuts and laying off 350 employees or 10 per cent of its workforce of 3,500, as the SoftBank-backed edtech firm targets profitability and reduces costs, according to an internal note sent by Gaurav Munjal, co-founder and CEO of Unacademy group, to the staff. Munjal said the restructuring exercise would affect about 10 per cent of employees across the group. "I am deeply saddened to share that we will have to say goodbye to some of our extremely talented Unacademy employees," said Munjal in the letter addressed to employees and reviewed by Business Standard.
The move comes after the financial services firm announced that it will lay-off 4,500 employees or 2 per cent of its workforce globally.
Some sectors like aviation, hospitality, travel and tourism, and automobile have witnessed zero cash flow since the lockdown began.
Online marketplace majors, e-grocers, Internet of Things firms, app-based companies and transport service aggregators are among those that have had to shut shop or scale down operations. Now, survival skills like upskilling and retraining will determine who makes it.
As Covid-19 cases surge in India, companies have realised it's a tightrope walk between maintaining production and ensuring employee safety.
'The Indian state is very benevolent when it comes to corporates,' says Tom Thomas, chief executive officer of Praxis, and convenor of CRW India.
Dell, who was in Davos for the World Economic Forum Annual Meeting, said the company's plant (in Chennai) and the operations and staff size in the country would continue to expand as per the size of the business.
Prime Minister Narendra Modi on Friday said production linked incentive (PLI) scheme, which is aimed at boosting domestic manufacturing and exports, is expected to increase the country's production by $520 billion in the next five years. Addressing a webinar on PLI scheme, organised by Department of Industry and International Trade (DPIIT) and NITI Aayog, through video conference, Modi said the government is continuously carrying out reforms to boost domestic manufacturing. In this year's Budget, about Rs 2 lakh crore was earmarked for the PLI scheme for the next five years and "there is an expectation that the scheme would result in increasing the production by about $520 billion in the next five years", he said. He added that there is also an expectation that the current workforce in the sectors, which will avail the benefits of the PLI scheme, will be doubled and job creation will also increase.
He rued that people who work hard and honestly are put through enormous difficulties and Indians excel in making an ordinary task into an extraordinary one.
IT services major Infosys on Wednesday announced a new programme, wherein it will offer 500 job seekers the opportunity to complete a fully digital, online diploma course certified by Salesforce. The programme aims to prepare Americans for 21st century careers in the technology sector. Leveraging Trailhead, Salesforce's free online learning platform, the program will train these 500 American workers, free of cost, for roles at Infosys as Salesforce Certified Administrators and Salesforce Industries Developers, a statement said. The programme, targeting recent graduates from major universities, liberal arts colleges, and community colleges, will help Infosys to create a workforce prepared for the future, it added.
Cisco, which employs about 73,000 people worldwide, has warned against a 'challenging macro environment'
Yes Bank said it is set to unveil a branch to be operated exclusively by women.
It's too big to digest as one whole airline.'
The Survey noted that while women account for almost half of India's population, their participation in labour market is almost one-third and has been declining.
Networking technologies major Cisco plans to slash 6,500 jobs, about 9 per cent of its global workforce, as part of an operational revamp to boost profitability.
"We see the Indian economy rebounding from our projected 6.1 per cent growth this fiscal year to something like 7 per cent in the next fiscal year (2020). We see the factors that will support growth, including monetary policy stimulus, working their way through the pipeline," Jonathan Ostry, Deputy Director, Asia Pacific Department at the IMF, told reporters.
According to the ManpowerGroup Employment Outlook survey released on Tuesday, that covered 5,131 employers across India, a net 19 per cent of employers are anticipating an actual rise in their staffing numbers, while 52 per cent expect no change and 28 per cent are not sure about adding to their existing staff strength.
The survey noted that in a market like India, where there is high attrition levels, employer branding is very important as it provides an advantage to attract and retain top talent.
The economic downturn in the world's jewellery markets has checked the growth of India's diamond export industry, cutting the workforce by as much as 25 per cent and forcing one of the country's most promising export sectors to seek government help.
Although the pact would focus mainly on the Pacific and the South China Sea region, any action designed to deter China with or without New Delhi's active participation is a welcome move, notes Commodore Venugopal Menon (retd).
Anybody who's plugged in to the modern, globalised world will understand why, says Kanika Datta.
India growth story has been deeply hurt by a suffocating bureaucracy and a workforce, which is 'unskilled'.
The government is selling its entire 100 per cent stake in Air India but wants effective control to stay with Indian nationals.
Newly minted American engineers are going into finance because tech jobs have been offshored.
'In India, the impact will be less than 1% of employee headcount.'
Schools for classes 8 to 12, colleges and varsities will reopen in West Bengal on February 3, Chief Minister Mamata Banerjee announced on Monday.
Iterating its commitment to India operations, Barclays India said: "We continue to be fully committed to our long term plans in the country. Barclays India, which is part of British banking giant Barclays Plc, has six entities operating in India employing more than 5,000 people.
An analyses of the trends that will influence the demand for Indian workforce in the world economy.
An analyses of the trends that will influence the demand for Indian workforce in the world economy.
The company said it will target experienced technology professionals as well as recent graduates from major universities, liberal arts colleges, and community colleges to create the best workforce for the future.
In fact, since 2013, China has become the largest market for robots.
eBay says it has cut jobs at its centre in Bengaluru in favour of shifting them to other locations around the world.
Kalpana Kochhar, country head-India of the International Monetary Fund, says it is 'very difficult not to be bullish on India'
Networking solutions giant Cisco will lay off up to 6,000 employees globally, including India, after it reported a marginal decline in profits and revenues for the fourth quarter.
