HIRING PLANS
Infra cos step up hiring betting on govt focus on sector
India's infrastructure sector is hiring millions in unskilled, semi-skilled, and skilled labor segments, with expectations that the new government will continue investing in infrastructure development, including highways, roads, and airports. An estimated 9.8 million jobs are expected to be created in FY25, driven by strategic investments and ambitious plans for transportation and logistics development.
Indian officials visit Foxconn iPhone plant, question executives about hiring
Indian labour officials inspected a Foxconn factory near Chennai, questioning executives about alleged discriminatory hiring practices against married women. This follows a Reuters report revealing that Foxconn systematically excludes married women from iPhone assembly jobs. The investigation has prompted government inquiries and public debates about workplace discrimination and labour laws.
Zerodha to end zero-brokerage model; Unacademy lays off 250 employees
Online stock broker Zerodha will likely discontinue its zero-brokerage structure due to new Sebi rules. More on this in today’s ETtech Top 5.
Hexaware to hire up to 8,000 people globally in 2024
Hexaware Technologies intends to expand its workforce globally by hiring between 6,000 and 8,000 employees in 2024 across various countries including India, the US, Canada, Mexico, Poland, and the UK. The company's hiring plans are contingent upon favorable global market conditions, as stated in a news release. Rajesh Balasubramanian, EVP and Global Head of Talent Supply Chain at Hexaware, emphasized the company's active recruitment drive to attract talented individuals worldwide.
BFSI captives hunt for leadership talent
Executive search firms ET spoke to said candidates from product organisations are tapped for technology hiring, and for non-technical roles, domain and functional expertise remain paramount. Compensation ranges at around Rs 1 crore for those with 18-25 years of experience. For CFO roles, packages could be in the range between Rs 2-4 crores.
Job Market Outlook: AI integration set to boost employment in financial and real estate sectors
Manpower Group's latest Net Employment Outlook for June to September 2024 showcases positive trends in India's employment sector, ranking sixth globally. Despite some decline, the Financial Services and Real Estate sectors are driving growth, with AI integration expected to further boost employment opportunities. Various sectors and regions display differing hiring intents, reflecting cautious optimism amidst ongoing global challenges.
Majority of Indian employers plans to add staff in first six months of FY25: Survey
The Indian employment market is expected to expand by more than 6% in the first half of the fiscal year, driven by a positive economic climate across 23 industries, according to TeamLease Services' Employment Outlook Report for H1 FY25. The report, which surveyed 1,417 employers in 20 cities, found that 56% of employers plan to grow their workforce in the coming months, 23% expect to maintain current levels, and 21% foresee a decline in staff numbers.
CEO succession planning is important. But how you go about it makes all the difference
Succession planning, including CEO succession plans and leadership pipelines, is crucial for company stability and success. Companies with robust succession plans outperform peers by 20% in revenue growth. Neglecting leadership pipelines can cost companies nearly $1 trillion annually, emphasizing the importance of effective planning.
Beyond the paycheck: What employees look for and how employers can fix hiring gaps
The changing work culture is causing a gap between employer and employee expectations in hiring and retention. Companies struggle with mismatched salary expectations, required skills, and cultural fit issues. Nonprofits and FMCG companies face the most challenges. Many employees in India and Asia Pacific prioritize flexibility and career progression. Ageism is evident, especially in sectors like Insurance.
Companies cautious on short-term hiring, but overall outlook stays upbeat
Employers in India are showing caution in short-term hiring for the July-September quarter, with a net employment outlook of 30%, six percentage points lower than the current quarter and the same period last year. While 48% of employers plan to hire more people, 18% expect a decrease in hiring or have no plans to hire. The most optimistic sectors are finance and real estate, healthcare and life sciences, and IT, while communication services and transport, logistics, and automotive are less optimistic.
What will a robot make of your resume? The bias problem with using AI in job recruitment
Establishing guidelines, ethical standards, and promoting transparency in AI decision-making processes are essential for fair recruitment practices. Collaboration between HR professionals and AI developers can lead to more inclusive and equitable hiring processes.
Global capability centres go big on hiring gig employees
India's multinational hubs are increasingly turning to hiring contingent workers to meet immediate talent needs while remaining cautious about permanent recruitment due to a bearish global outlook. There has been a significant rise in demand for gig employees in the last six months, with an expected increase of up to 70,000 gig workers in the next six months. This trend allows companies to create a balanced workforce that is agile and cost-effective, with access to specialized skills.
NIIT Learning Systems Q4 Results: Profit almost flat at Rs 54 crore; co gives growth guidance of 12-14% for FY25
NIIT Learning Systems on Wednesday posted a marginal growth of 0.92 per cent to Rs 54.43 crore in consolidated net profit for the quarter ended March 31, 2024. It had reported a net profit of Rs 53.93 crore in the year-ago period.
Hotels up hiring game: About 100,000 jobs likely to be created in 12-18 months
Hotels across segments are ramping up their workforce as they are adding more rooms and entering new markets amid a strong pickup in business and leisure travel. The jobs they are recruiting for are a mix of permanent, temporary and gig, said Balasubramanian A, vice president and head of consumer, hospitality and ecommerce at TeamLease.
D2C brands step up hiring to drive offline push
D2C (direct-to-consumer) companies in Bengaluru are increasing their offline presence and hiring talent to support their brick-and-mortar expansion. Licious, Noise, and Wakefit.co are among those seeking individuals with hyperlocal understanding, online and offline expertise, and experience in digital, ecommerce, and supply chain. Wakefit.co is employing a 'train and hire' approach, training freshers before they start in stores.
Retailers to continue hiring in 2024, focus on tier 2, 3 cities : Report
In 2024, retail jobs surge with the operationalization of brands expanding from 2023, driving demand by 15-20%. E-commerce, despite startup leadership, faces hiring challenges. Logistics saw a dip. Retailers target fresh grads (52%) and experienced pros (38%). Tech adoption, sustainability, and skill development are key industry trends amid exponential e-commerce growth.
Why hiring functional heads needs special attention in today’s age
Functional unit leaders require diverse skills like agility, credibility, emotional intelligence, and problem-solving abilities. Companies seek individuals with global leadership experience, focusing on succession planning and market positioning for external hires.
Top law firms rule in favour of smaller cities; plan to hire local talent in Nashik, Pune, Indore, Jaipur & Chandigarh
Indian law firms are expanding beyond metros, focusing on smaller centres like Nashik, Indore, Chandigarh, Jaipur, Pune, Ahmedabad, and Kochi. These firms believe that physical offices in these areas are crucial for their growing corporate and private client portfolios, as well as for cost arbitrage and client retention. Global captives of multinationals, companies in the automobile, electronics, renewable, and real estate sectors are also considering expanding their operations in these areas.
Malpractices by candidates during online assessments biggest fear among recruiters: Report
A report by AI-powered recruitment automation firm HirePro has revealed that fraudulent practices during online assessments are the biggest fears among recruiters and talent acquisition specialists. The report, based on a survey of 837 recruiters, talent acquisition specialists, and HR professionals, found that the anxiety of finding the right candidate for a role is the biggest concern.
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