WOMEN HEADCOUNT IT COMPANIES
India’s five big IT firms see net exit of 25,000 women in FY24
The data analysis by staffing firm Xpheno revealed that five of India's top IT services companies - Infosys, TCS, Wipro, LTI Mindtree, and HCL Tech - have seen a collective net exit of 25,000 women in the year ending March. Despite an increase in the total number of women employed by these firms from 374,000 in March 2020 to 540,000 in March 2023, the diversity ratio has only seen a marginal growth of 0.9 percentage points during this period.
Companies look to rework benefits for multi-generational workforce: Survey
A survey by Marsh India Insurance Brokers revealed 70% of companies seek new-age benefits and 50% aim to cater to the multi-generational workforce, focusing on Generation Z. Employers are designing comprehensive benefits tailored to diverse needs, including mental health support and flexible solutions.
Women as business leaders: India Inc moved little in five years, finds study
The male-to-female ratio in leadership roles at Indian companies remains unchanged, indicating a lack of gender equality. Sectors like technology, information & media, real estate, transportation and logistics have seen a downward trend in women in leadership roles, while industries like construction, oil, gas & mining, and utilities have seen more women in such positions.
India Inc’s diversity drive slow in including PwDs
Corporate India faces a long road ahead when it comes to incorporating people with disabilities (PwDs) into the workforce. According to SEBI-mandated Business Responsibility and Sustainability reports, over 87% of listed companies said their workplaces were accessible to PwDs, but only 0.6% of permanent workers employed were PwDs. Data compiled by primeinfobase.com showed that 38,989 of the 6.43 million permanent employees at these companies in 2022/2022-23 were PwDs.
Fewer women are getting promotions compared with men, shows study
Women are also getting a smaller chunk of the promotion budget. Of the entire promotion budget that companies have, women are paid Rs 88 for every Rs 100 that men are paid, according to data from global professional services firm Aon, shared exclusively with ET. This indicates that women are not getting higher-paying jobs or are getting fewer high-paying roles.
View: What lies ahead for ITeS sector & how GoI can play its part
While the ITeS sector will continue to grow near double-digit levels, headcount will shrink in 2024 by at least 5 percentage points. If the sector does not shed people, it would indicate seeping complacency, a lack of understanding of the impact of new technologies, and an incipient loss of competitiveness. It needs to reduce headcount, and stay competitive and relevant in the face of automation and AI.
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Companies are taking steps to boost gender diversity
Companies are taking various measures to increase the gender diversity numbers. These include hiring more women from campuses, offering flexibility at work and adding more women in leadership, HR heads and staffing sector experts said.
For financial services companies, India’s best market for tech talent: Morgan Stanley executive
India is currently the second largest location in terms of tech headcount outside the US for the multinational financial services firms, Michael Pizzi, managing director and head of US banks & technology at Morgan Stanley, told ET.
NTT Data looks to grow presence in India
“India makes up the largest geography for us, and we’re looking to expand here for all our segments - financial services, insurance, manufacturing, and automotive, as well as healthcare,” said Ravi Kumar, group SVP, NTT Data.
TCS, Infosys, Wipro, others are steering the drive to bridge IT's gender gap
The share of women employees across the top five IT companies stood at 34.1% at the end of the first quarter of 2023-24, up from 31.7% as of the first quarter of 2017-18, Xpheno data showed.
Quest Global looks to grow presence in India
Engineering solutions company Quest Global is hiring across its global network, but especially so in India. The firm, which currently employs about 17,500 people globally, is aiming to increase its female headcount. Quest Global is now looking to provide mentoring and networking opportunities for women of all levels, as well as offering flexible schedules for women looking to balance their family responsibilities alongside their careers.
In rough year, IT companies ask employees to work from office more often
Tata Consultancy Services (TCS), LTIMindtree, Wipro, Persistent Systems and others told ET about half their staff have been punching in at least twice a week.
Millet-based snack company Troo Good aims to clock Rs 100 crore revenue this fiscal year
Millet-based snack company Troo Good is looking to expand pan-India and has set an ambitious revenue target of Rs 100 crore for FY22-23. It currently sells 15-20 lakh chikki bars a day, primarily in markets in the states of Andhra Pradesh, Chhattisgarh, Karnataka, Odisha and Telangana.
Hiring of women pips IT headcount growth
The number of female employees increased 6.5% at these IT companies in FY23, outpacing growth in their total headcount, which was 5.9%, according to a survey commissioned by ET and conducted by staffing firm Xpheno.
Snags hit ecommerce orders on ONDC; IT firms hire more women in FY23
Government-backed Open Network for Digital Commerce (ONDC) is set for rough weather ahead as the platform faces roadblocks while scaling. This and more in ETtech’s Morning Dispatch.
Orion Innovation commits to increase women workforce in India by 15 per cent
With this commitment, Orion Innovation aims to not only increase India headcount but also create a more diverse and inclusive workplace, he said. Last month Orion Innovation said it has acquired global technology company Sryas Inc for an 'undisclosed sum'. The acquisition has been 'completed' and Sryas Inc has become a subsidiary, Orion Innovation CEO Raj Patil had said.
'We have shown we can do hard things as a company.' Vimeo sacks 11% staff, CEO Anjali Sud urges others to 'come together with humanity'
The CEO of Indian descent said that she is "proud of the company's agility and resilience."
India IT absorbs 1,20,000 tech gig workers since pandemic
From April 2020 to September 2022, IT firms have hired over 1,20,000 people, or around 80% of the total technology services workers who were earlier employed on a gig-based model, according to an analysis by IT market intelligence firm UnearthInsight.
After 18-month delay Byju’s releases audited FY21 results; The Merge sparks Ether trading surge
This marks a significant drop of around 50% from the projected revenue of about Rs 4,400 crore cited in the unaudited results of Byju’s parent firm Think & Learn Pvt Ltd, which has been facing intense scrutiny over its accounting practices in recent months.
Women’s participation in MSME sector at 24%, higher than other industries: Study
The survey also revealed that engineering, operations and sales/business development are the major business functions in the MSME sector.
HCL Technologies plans to increase Nagpur headcount to 5000 in two years
HCL Nagpur has grown by creating opportunities for local talent through their #ComeBackHome and #StayRooted campaign, which resulted in over 80% of the talent at the campus belonging to Nagpur. The company reports seeing a trend of experienced technology professionals moving from urban hubs such as Pune and Mumbai to their cities.
Gender gap is closing fast across India’s top IT companies
Professional services firm Aon's recent survey tracking 20 top IT services companies, shared exclusively with ET, also confirms the trend of companies looking to increase the number of female employees from the existing 30% to 45% in less than 24 months.
Lowe's looks to ramp up footprint in India
“Lowe’s in India is an integral part of what we do for our parent organisation. In the U.S. we’ve grown rapidly through the pandemic, since we’re in the home improvement business and our customers have been investing more in their homes through this time,” said Mohith Mohan, head of HR, Lowe’s India.
CSS Corp to ramp up headcount, create talent pool in India
A majority of the hiring is to be focused on engineers. The company is also looking to hire non-engineering graduates (B.Com, B.Sc).“We have been sharpening our focus on campus and lateral hiring. We doubled our headcount in 2.5 years, and are looking to double it again in three years,” Sunil Mittal, CEO at CSS Corp, told ET.
As Covid-19 cases wane, host of startups look to increase headcount
“Our revenue doubled in the last year and we grew heavily in terms of numbers of customers and properties. With the second wave of Covid ending, we have seen a jump in customer interactions and in the next six months, we would see pent-up demand coming in our favour,” said Amit Agarwal, cofounder of the Bengaluru-based startup.
TCS crosses 500,000 headcount
The company added a total of 20,409 new employees during the quarter, its highest ever quarterly net headcount addition.
Winds of change: More women manning auto assembly lines
The inclusion of women has improved the culture and discipline on the shopfloor because female associates are keener on punctuality, process adherence and following guidelines.
Vedanta to raise women headcount to 30% in 2 years
Currently, 11% of the company’s 25,000 employees are women, which it aims to increase to 30% in two years. This can be compared with the average female workforce headcount of 3-8% in India’s manufacturing sector.
Synopsys to ramp up India headcount
“Almost 22% of our workforce in India comprises women, which sets us ahead of the semiconductor industry average of 14%, according to a study by Aon Hewitt,” said Collinson.
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