INDIAN IT HIRING
India Inc now picks its C-level champions from indoor pool
Indian companies like Mahindra and Aditya Birla Group are increasingly focusing on internal talent pipelines for leadership roles, showcasing a shift towards nurturing seasoned professionals for longer tenures within the organization.
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.
25% of new hires are married women; nearly 70% workforce are women: Apple iPhone maker Foxconn
Foxconn clarified to government that 25 per cent of new hires are married women and safety protocol banning metal is not discriminatory. Ministry of Labour sought report on married women issue at Foxconn India Apple iPhone Plant. Foxconn emphasised that safety protocol applied to all, not just Hindu women. They brushed away media reports saying it was a misinterpretation.
Silver's the new gold as startups rejig CXO portfolio
Many startups, particularly those gearing up for public listing, now consider youth and experience a winning combination. Having experienced leaders instills confidence in investors and markets, who view it as an indicator of stability and potential for success, said company founders and industry watchers.
Indian national Nikhil Gupta extradited in Pannun foiled murder plot: What's the impact on Indo-US ties?
Indian national Nikhil Gupta extradited to the US from Czech Republic for alleged foiled plot to murder Khalistan separatist Gurpatwant Singh Pannun, involving hitman hired by Indian government official. US Department of Justice claims Pannun targeted for exercising freedom of speech. Extradition coincided with US National Security Advisor Jake Sullivan's visit to India, overshadowing iCET talks.
Is it a case of ‘no bad news is good news’ for IT companies now? Rahul Jain answers
Rahul Jain of Dolat Capital says that the guidance for the current fiscal has been very weak in the case of the IT companies that give explicit numbers, be it Infosys or HCL Tech. And if they do not surprise positively during the earnings season, all the momentum can gradually fizzle out.
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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.
Pannun Case: Top democratic senators urge strong diplomatic response
Democratic Senators have called for a strong diplomatic response from the Biden administration to allegations of the Indian government's involvement in a foiled plot to assassinate Sikh extremist Gurpatwant Singh Pannun on US soil. The letter, signed by Senators Jeff Merkley, Ron Wyden, Tim Kaine, Bernie Sanders, and Chris Van Hollen, urged accountability and a briefing on the administration's engagement with the Indian government.
Nikhil Gupta will now face justice in American courtroom, says US attorney general
Indian national Nikhil Gupta, 53, is accused of plotting to murder Sikh extremist Gurpatwant Singh Pannun in New York. Gupta was arrested in the Czech Republic and extradited to the US on June 14. He pleaded not guilty in a federal court. The US Justice Department emphasized its commitment to protecting American citizens and free speech. Gupta, allegedly working with an Indian government employee, faces charges of murder-for-hire and conspiracy. If convicted, he could be sentenced to a maximum of 10 years in prison for each charge.
Gurpatwant Pannun Murder Plot: Nikhil Gupta enters not guilty plea in murder-for-hire case
Gurpatwant Pannun Murder Plot: Indian national Nikhil Gupta, accused of orchestrating a murder-for-hire plot against a Sikh extremist in the US, pleaded not guilty in a federal court. Gupta, extradited from the Czech Republic, faces charges of conspiracy to commit murder-for-hire. His next court hearing is scheduled for June 28. The US alleges Gupta was working under the direction of an unnamed Indian government official, a claim India denies, stating it is conducting its own investigation into the matter.
Nikhil Gupta, accused of murder-for-hire plot against Sikh separatist, pleads not guilty in US court
Indian national Nikhil Gupta pleaded not guilty in a murder-for-hire plot against a Sikh extremist in the US, after being extradited from the Czech Republic.
What's stopping TCS from filling 80,000 open positions?
TCS is facing a challenge with 80,000 open positions due to a skills gap. Amar Shetye, global operations head of TCS's RMG, highlighted the mismatch between employee skills and required roles.
Delhi-NCR, Bengaluru have highest demand for entry-level talent : Report
The demand for freshers is highest in Delhi-NCR and Bengaluru, followed by Mumbai, Chennai, and Pune, according to data from foundit. Most job postings for entry-level positions are in the IT and recruitment/staffing industries, with a growing demand seen over the past six months.
Sebi to hire 49 officers; invites application
Sebi initiated the hiring process for 49 Officer Grade A (Assistant Manager) positions in various departments to enhance regulatory functions.
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.
Julius Baer targets rich Indians in Dubai with UBS, JPMorgan hires
Julius Baer Group Ltd. hired senior bankers from UBS Group AG and JPMorgan Chase & Co. to strengthen its business serving wealthy Indians in Dubai.
Startups’ new hiring strategies; unprecedented poll buzz online
Happy Thursday! While layoffs continue, startups are strategically refilling certain open positions with lower-salaried junior staff to cut costs. This in today’s ETtech Morning Dispatch.
How startups are changing their hiring strategies to streamline costs
Facing a prolonged funding drought, startups are trying a new approach to cost-cutting. Layoffs continue, but some companies, like Swiggy and Ola, are strategically refilling certain open positions with lower-salaried junior staff, according to industry insiders.
White collar hiring improving as demand from Oil & Gas, Banking, FMCG sectors rises: Report
White collar hiring in major sectors like Oil and Gas, Banking, and FMCG showed steady improvement, with a 6% increase in May compared to April, driven by Healthcare and Travel and Hospitality. However, overall white-collar hiring was down by 2 per cent year-on-year, with declines in IT, BPO, and Education sectors. Smaller cities outperformed major metropolitan areas, with strong demand for senior professionals contributing to a healthy growth in opportunities.
Slowdown hits Indian IT companies’ campus recruitments
The IT service business model, which relies on pyramid structure with its base constituting young and less expensive employees, has been shrinking. In FY24, both TCS and Infosys saw the share of young employees in their total headcount plunge to a five-year low and a decadal low, respectively.
India needs lower tax on recruitment services to boost jobs, says industry body
India's Indian Staffing Federation (ISF) has called for a reduction in the 18% tax on recruitment agencies providing outsourced staff to big companies. The ISF, which provided 1.6 million outsourced workers to companies last year, believes the new government should support hiring more salaried workers. The ISF claims that the 18% goods and services tax discourages employers from hiring contract workers through recruitment agencies.
ChatGPT Effect? 7,000 IIT students still jobless as placement season ends; Institute sends SOS to alumni for help
Over 7,000 IIT students remain unplaced as the 2023-24 placement season ends. IIT Delhi, IIT Bombay, and BITS are seeking help from alumni to secure jobs for these graduates. Economic factors and technological advances, such as the rise of ChatGPT, have contributed to the decline in placements, with many companies adopting a cautious hiring approach.
Talent demand in EV segment drives in new roles and contract hiring
The electric vehicle (EV) industry is booming, creating a demand for diverse skills and expertise. Opportunities span technical, leadership, and operational roles. Contract staffing is playing a crucial role in meeting the industry's needs, with a focus on talent development and agile solutions. Leaders face challenges in talent acquisition and navigating industry dynamics amidst rapid advancements.
Senior-level IT services hiring in 2024 focuses on new-age skills
IT services and global market conditions impact senior-level hiring with pay hikes expected. Roles in finance, consulting, and program management are in demand. Companies hiring for roles like chief AI officer, delivery head-AI, and CFOs. Skills in cloud computing, machine learning, and data engineering are sought after. Gartner forecasts $5 trillion IT spending in 2024, with India's IT spending growing.
Late-stage startup funding up 3x in April
Data from market intelligence platform Tracxn reveals a new trend in Indian startups. While overall funding for startups declined in the first three months of 2024, late-stage funding (for more established companies) saw a dramatic increase, more than tripling in April.
Indian IT’s reliance on H-1B dropped 56% over past 8 years
Indian IT companies’ reliance on H-1B visas has fallen over the years as they have ramped up local hiring in the US. High denial rates during the Trump administration along with tightening of the immigration regime have also decreased visa usage, experts said.
How family businesses need to combine intuition with data-driven processes for hiring professionals
Infusing external talent to bring fresh perspectives, specialised expertise and strategic insight is imperative to propel the business forward. However, the senior talent acquisition process is not without challenges.
White-collar hiring falls 3% in April, shows Naukri JobSpeak Index
Despite a 3% year-on-year and 1% month-on-month decline in white-collar hiring, various sectors experienced job growth. Notably, demand surged for specific roles like drilling engineers, brand managers, and IT professionals in different cities.
Indian students fail to land internships in US amid hire-local push
Indian students in the US, including those from Ivy League universities, face internship challenges amid job slowdown. Competition intensifies with scarcity of entry-level job opportunities, impacting job market competitiveness.
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