EMPLOYEE COST PROPORTION
Zomato sees Esop costs rising on grant of stock options to Blinkit leadership
Costs incurred under the Esops head are non-cash expenses, and will rise in the ongoing fiscal “on account of grant of Esops to the Blinkit leadership team and senior employees,” the management said in a post-earnings call.
Expect a capital call from IDFC First Bank in FY25: V Vaidyanathan
IDFC First Bank, led by V Vaidyanathan, plans to raise capital in FY25 to support growth. The bank's strong market performance, deposit growth, and focus on loan quality position it for continued success in the financial sector. Vaidyanathan also says that he expects income to grow faster than and by a meaningful number and maybe by 400-500 basis points. That will open up the jaw of profitability.
Does adhering to green practices add costs for businesses?
Sustainability is there to stay and grow bigger. But does implementing green technologies such as eco-friendly infrastructure require a high upfront capital investment?
Living wage augurs well for contractual staff
India transitioning to living wages with ILO, affecting labor costs. Disparities in pay among different worker types. Global minimum wage increases noted. Italy resists implementing minimum wage. Challenges anticipated for MSMEs, SMEs, and gig workers.
How many managers is too many managers? Why every corporation needs a Marie Kondo
Spring is not only a time for cleaning our homes, but also for decluttering organizations. Managerial clutter, bureaucratic tasks, and excessive meetings waste time and lower morale. Implementing a regular employee-driven spring cleaning process can empower employees and ensure that unnecessary processes are eliminated.
EPFO plans to set up actuary, hire more staff
EPFO plans to overhaul its pension division by setting up an in-house actuary and hiring more staff due to the increased workload from the Supreme Court's order on higher pensions. The retirement fund body may ask exempted establishments to pay for administrative charges. The EPFO has received 1.74 million applications for higher pension validation, with 1.17 million pending.
Over 60% IT employees ‘directly know’ someone who is moonlighting: Indeed
According to a report, the attitude towards moonlighting varies across sectors, with the IT and manufacturing sectors leading in opposition to moonlighting.
IT staff forced to work 50 hours/week to meet deadlines: data
IT employees in the country work on an average work for around 45-50 hours per week, translating around 10 hours a day in the 5-day week while the standard is 40 hours a week as a large part of them is often compelled to work longer hours to meet project deadlines, as per data from staffing firms.
Paisa vasool: India Inc gets more productive in five years
From 6.15 million cumulative employees on the payroll of ET-500 companies at the end of FY19, the total number of employees rose to nearly 7.1 million at the end of FY23. While the cumulative revenues of ET-500 companies grew at a compound annual growth rate of 12.6% during these five years, the staff cost increased at a similar clip of 12.5%.
NPS rule change: Default option available in NPS Tier II accounts for govt employees; what is it and how will it help you?
The Pension Fund Regulatory and Development Authority (PFRDA) has introduced the default scheme option in NPS tier II accounts the government employees. Till now, the default scheme was available only to NPS Tier I account subscribers. So those government sector NPS subscribers who chose to invest in NPS tier II accounts, had to pick their pension fund managers (PFM) and percentage in which the selected PFM will invest the fund. Now, the government sector NPS subscribers can also select the the default scheme option in NPS tier II. This scheme is designed to offer flexibility and convenience to government sector
Why mandatory return to office could come at the cost of a diverse workforce
The Covid-19 pandemic has led to a significant shift to remote working practices, impacting the gender balance of workforces as surveys have indicated that many women would consider quitting if remote working ended. According to HR executives, employers offering some degree of flexibility stand to benefit by retaining a more diverse pool of talent.
Employee cost proportion rises for large IT companies
TCS reported a sequential revenue increase of only 0.6% in constant currency, and the employee cost as a percentage of the revenue went up sequentially from 55.8% to 56.9%.
Swiggy CTO Dale Vaz resigns; Eruditus’ FY22 revenue jumps 87%
Vaz, who had joined Swiggy as its head of engineering and data science, was promoted to the CTO post in 2020 after Rahul Jaimini, who cofounded Swiggy with chief executive Sriharsha Majety and Nandan Reddy in 2014, exited the company.
View: The dispensability quotient of employees in India
Be it business plans going awry, cost-cutting, underperformance, the mistake of over-hiring or downright cooking of books — employees are the first to be shown the door — and often at the same time across industries. While the hiring frenzy is a more disparate exercise, the firing tsunami is in tandem across industries — be it edtech, ecommerce, IT or banking and financial services.
What is ESIC scheme, who is eligible, what are its benefits
The contributions are based on the workers' earning ability as a fixed proportion of their salary, yet they are awarded social security benefits based on individual needs without discrimination.
IT companies expected to report muted Q3
Analysts ET spoke to said they expect companies to deliver median revenue growth of 1-4% quarter-on-quarter (QoQ), and 7-9% year-on-year. Bellwethers TCS, Infosys, and HCL are likely to report expansion in margins, while tier-two companies, such as LTIMindtree, KPIT, Persistent Systems, and Coforge, are expected to report strong quarters.
Are cheap air tickets in India coming at the cost of passenger safety and service?
Vistara, an Indian joint venture of conglomerate Tata Group and Singapore Airlines Ltd., has been fined Rs 10 lakh after a first officer landed a passenger flight without completing required training.
People want to join a company focused on creating a better world: Tiger Tyagarajan
In an interview, Tyagarajan says employees today want to join a company that doesn’t just focus on profits but also drives sustainability and creates a better world, and Genpact is trying to do just that.
Remote work model sees a rise in compensation for employees in India: Indeed Report
As per the new report, 60% of the employees surveyed say remote work has been the biggest work trend, post-pandemic, followed by hybrid work (42%). Employers share a similar view, with 64% considering remote work, followed by hybrid work (45%), to be the biggest trends.
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