SENIOR LEVEL EMPLOYEES
Diversity initiatives are bringing more women to certain roles: Survey
Indian companies are prioritizing diversity, equity, inclusion, and belonging (DEIB) initiatives, with varying levels of women's representation across roles highlighted in a Manpower Group survey. Administrative and operational roles show higher female presence, while top-level management and STEM roles exhibit lower representation. Key findings emphasize the importance of trust, relationship building, and technology-driven solutions like AI for unbiased recruitment.
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.
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.
IKEA did what others only talk of doing & it was a gamechanger for India staff
IKEA faced high employee turnover globally. In India, to retain staff, IKEA introduced subsidized daycare, 26 weeks of parental leave, and a five-day workweek. These benefits have significantly improved employee satisfaction and retention, reflecting IKEA's commitment to addressing local worker needs and enhancing their work-life balance.
Corporate travel sees a drop amid extreme weather, election heat
The industry expects corporate travel to pick up soon, with the arrival of monsoon rains, schools opening, and work life getting back to normal after the elections.
LGBTQIA+ employees have a new ally at workplace in senior leaders
At companies such as GE Aerospace, IBM, LTIMindtree, Deutsche Bank, Cisco, Cummins and Thoughtworks, board members, leaders, people managers as well as teammates are driving a culture of inclusiveness so that LGBTQIA+ workers don’t feel isolated.
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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.
Around one-third employees experience age-related discrimination at work: Study
The 'Ageism in the Workplace' study by talent company Randstad India revealed that 31 per cent of employees in India have experienced discriminations due to their age and such discriminations are mostly prevalent during recruitment process, especially in job advertisements of organisations.
31% of employees in India experienced ageism at work: Randstad
A study by Randstad India has revealed that 31% of Indian employees have experienced bias or discrimination due to their age at work. The study, which covered nearly 1,000 respondents, found that pharma, healthcare & life sciences, and business process outsourcing/IT-enabled services were the sectors where the highest proportions of respondents experienced ageism. Construction, infrastructure, and real estate followed closely, with 41% of respondents experiencing ageism.
Strategic acquisition of mid-level talent is pivotal for D2C companies to grow in this market
The D2C market in India is experiencing significant growth, driven by a surge in consumer numbers and a diversification of offerings. AI and automation are playing a crucial role in revolutionizing operations, while the impact of the Open Network for Digital Commerce (ONDC) is profound.
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.
67% startup employees prefer moving to established firms: CIEL HR survey
According to the findings of a survey on hiring and recruitment trends by Ciel HR Services, about 67% of the workforce is open to transition to established firms. The report is based on the data and analysis of 130,896 employees across 70 startups in India, along with 8746 job postings sourced from various job portals.
Urban Company announces fifth Esop sale programme worth Rs 203 crore
Existing investors Vy Capital and Prosus Ventures, and Dharana Capital, an offshoot of Vy Capital, will be purchasing a majority of these shares from both current and former employees
Compensation gap between private & public sector widens in FY23
Total compensation of employees working with private corporations increased to 13.5% of the GDP in FY23 from 12.8% in the previous year while households, which largely represent the informal sector, saw their wages rise to the highest level in nine years to 8.5% of the GDP in FY23 from 8.4% in FY22.
AI-focused TCS sees its staffers clocking more learning hours
This comes as TCS doubled its generative AI projects pipeline to $900 mn. Interestingly, senior female employees have been putting in more hours to learn than their male counterparts for the last four years, as per the annual report.
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.
Eat, pray, work.. want a detox retreat? Step into your office
According to a report by fitness technology company GOQii last month, almost 45% of India's population hovers dangerously close to being classified as unhealthy, adversely affecting not only individual mental and physical well-being but also diminishing productivity.
Top two tech firms shed Gen Z flab, gain silver muscle
The share of Gen Z employees - or those aged 30 and under - fell by about 5 percentage points last fiscal at Bengaluru-based Infosys, and by over 2.5 percentage points at Mumbai-based TCS. The trend underscores a tepid IT hiring climate amid industry turbulence, which have impacted onboarding of young talent the most.
As summer turns extreme, manufacturing firms go the extra mile to keep workers cool
As extreme summer heat leads to increased absenteeism and reduced productivity, manufacturing and engineering firms like Tata Steel, Larsen & Toubro, Nayara Energy, Thermax, and Maruti Suzuki are implementing measures to protect their employees. Initiatives include providing desert coolers, air-conditioned rest areas, and AC transportation, distributing rehydration salts, conducting medical check-ups, and offering doctor consultations. Tata Steel adjusts job schedules to minimize direct sunlight exposure, while L&T extends lunch breaks for outdoor workers.
India Inc helping more wonder women get C-suite superpowers
At Accenture, 29% of the leaders in India are women. Diageo India has 30% women in senior leadership. In the last few years, Marico's efforts have pushed women into close to 30% of leadership roles. PepsiCo is looking at 40% women in the India leadership team by next year. Larsen & Toubro handpicked 495 women employees to undergo leadership development programmes in the last few years.
Earn up to 9.50% interest rate: Senior Citizen Saving Scheme (SCSS) vs FD; interest rates, tax benefits, deposit limit compared
SCSS vs. FD: Here, we have compared the interest rates offered by the Senior Citizens Savings Scheme (SCSS) and bank fixed deposit rates with 5-year tenure for senior citizens and other important features.
Cleartrip CFO Aditya Agarwal steps down as top-level shakeup continues
Cleartrip's CFO Aditya Agarwal resigns amid Flipkart's senior management changes. Akshat Mishra to succeed him. Agarwal's key role in Cleartrip's integration into Flipkart highlighted. Former CEO Ayyappan R departing for consumer tech venture. Layoffs impacting 5-7% employees after Flipkart Group acquisition.
ZEEL creates new organisational structure after senior-level exits
ZEEL, which has four key business segments, namely broadcast, digital, movies, and music, has elevated key executives. The reorganisation is in line with the company's aim of achieving 18–20% EBITDA margin by FY26.
Expect 15-25% pay hike while shifting jobs at senior level, shows Michael Page report
The Michael Page's Salary Guide 2024 for India indicates significant demand for various roles across sectors, with senior-level job shifts offering substantial salary increases of 15-25%. Manufacturing, data, generative AI, and sustainability skills are particularly sought after.
Senior-level IT hiring rebounds; China's BBK group resets India sales strategy
Indian IT companies are back headhunting for senior roles. This and more in today’s ETtech Top 5.
Centre appoints 22 joint secretaries in different departments
Senior bureaucrat Deepankar Aron has been named joint secretary, department of chemicals and petrochemicals, Harish Kumar Vashisth will be joint DG, Directorate General of Civil Aviation and Siddharth Mahajan has been named as joint secretary in the department of commerce, according to a personnel ministry order.
Startup employees look for exits amid crises; outside talent reluctant to join
People do not want to put their reputations at risk, and that is now becoming the case when working at such companies. According to recruiters, many of those who moved to startups from traditional sectors at eye-popping hikes at the height of the startup boom are now eager to return even taking upto 20-30% pay cuts
Infosys loses senior executive Binny Mathews to Accenture
Mathews, who was with Infosys for over 15 years and was a senior vice president and group head of procurement before joining Accenture on January 3, 2024, joins the list of senior executives leaving Infosys since last year.
HCLTech may not offer wage hikes to middle and senior-level staff in FY24
The classification of E0 – E2 employees range from freshers to technical leaders and E3 – E6 employee band are those with mid-level positions ranging starting from project managers up to vice presidents. E7 and above are the senior-level employees.
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