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HUMANE-R|VOLUME30
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53% of Indian companies increasing headcount in 2021: Study A study by Michael Page India, Talent Trends 2021 indicates that 60 percent of the employers intend to increase salaries while 55 percent of the companies plan to give out bonus payments with 43 percent of them looking to give out more than one month’s worth of bonus.
Professional recruitment services firm, Michael Page India has launched the ‘Talent Trends 2021 Report’, indicating optimistic recruitment trends across industries in 2021. The new normal signals a hybrid work culture, as firms and industries across sectors work towards a healthy recovery with a renewed positive outlook The COVID-19 pandemic adversely impacted economies across the Asia Pacific, including India. India entered 2020 with robust hiring activities, however, the pandemic led to a dip in hiring activities by 18 percent in 2020. With that said, optimism is already starting to show, with about 53 percent of companies in India looking to increase their headcounts in 2021.
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Nicolas Dumoulin, Managing Director of Michael Page India, says, “Technology and healthcare sectors witnessed significant activity even during the lockdown phase given the sudden increase in demand for relevant talent across functions. Hiring activities among internet-based businesses such as ecommerce and educational technology (ed-tech), remained relatively robust across India and is expected to maintain the momentum in 2021 as well.” According to the report, India projects an optimistic outlook for 2021. 60 percent of the employers intend to increase salaries while 55 percent of the companies plan to give out bonus payments with 43 percent of them looking to give out more than one month’s worth of bonus.
The healthcare sector is expected to see the largest percentage rise in salary at an average increase of 8percent, followed by FMCG (7.6 percent) and E-commerce/Internet Services (7.5 percent). The technology boom in India has only further accelerated especially in the SaaS, health-tech, ed-tech, and gaming industries with rising demand for professionals in the Artificial Learning and Machine Learning space. Many companies have capitalized on the availability of Indian techies looking to return to India as a result of the pandemic. 74 percent of technology companies in India expect a 14 percent increase in headcount. Companies are open to considering talent remotely available and offer flexibility to the right candidate for remote working arrangements or hybrid work model. As companies move towards recovery the following are key trends are emerging and likely to continue in the next few years: • Irrespective of market conditions, candidates with the right combination of experience and soft skills will continue to demand high salaries • Contractors and temp staff will be in high demand as they offer the required flexibility in times of uncertainty • Companies will need to better define and communicate their vision and mission to prospective employees • Soft skills such as leadership, teamwork, relationship management, and communication will help differentiate between good and great talent • The human side of the recruitment process such as cultural fit, growth potential, and evaluating soft skills will become increasingly important in relation to growth opportunities Nicolas Dumoulin, Managing Director of Michael Page India observes, “As we see the economy moving towards recovery, companies will look at a strategy that will ensure retaining existing talent and hiring talent to bridge the skill gap, especially specialized talent in certain key growing areas in technology and healthcare. Companies will be looking at a dynamic working culture along with competitive remuneration and benefits package to attract talent. Start-ups in India examined their core businesses and retrained their focus on profitability last year, while larger conglomerates, took..
Read more at: https://www.peoplematters.in/news/talent-acquisition/53-ofindian-companies-increasing-headcount-in-2021-study-28224
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Sundaram Finance elevates Rajiv Lochan as MD Finance appoints Rajiv Lochan as MD, as T T Srinivasaraghavan retires after 38 years of service. Chennai-based non-banking finance company Sundaram Finance has announced the appointment of Rajiv Lochan as the new Managing Director, effective April 1, 2021. Lochan will succeed T T Srinivasaraghavan, who will retire on March 31, 2021, after completion of 38 years of service, including an 18-year tenure as Managing Director. However, he would remain on the board and play a mentorship role, the company said. “It has been a great privilege and honour to lead this outstanding group of people who make up Team Sundaram, over all these years. Our enduring commitment to the Sundaram Values will ensure that Sundaram Finance scales greater heights under the new leadership team,” reminisced Srinivasaraghavan. Sharing his thoughts, S Viji, Chairman, Sundaram Finance, said, “Under his leadership the company has demonstrated its traditional focus on asset quality and, most importantly, its adherence to ‘Sundaram Values’ of prudence and customer focus. The company and its shareholders owe a debt of gratitude for his service.” Taking over the reins from Srinivasaraghavan is Rajiv Lochan, who presently holds the position of Director of Strategy. Lochan has 25 years of experience in financial services. He served as a Partner in the consulting firm McKinsey & Company, and most recently, as Managing Director of Kasturi & Sons.
Commenting on the new role, Lochan said, “The strength of Sundaram Finance lies in its blend of tradition and service with cutting edge management processes and technology. This gives us a strong platform to grow in the years to come, and I look forward to the challenge and responsibility of leading ‘Team Sundaram’ to greater heights.” In a recent board meeting, the company introduced a couple of leadership changes, effective April 1, 2021...
Read more at: https://www.peoplematters.in/news/c-suite/sundaram-financeelevates-rajiv-lochan-as-md-28241
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Instamojo announces permanent work from home Instamojo has announced permanent work from home as a flexi-work option for its workforce. The company has begun tapping into Tier 2 and 3 cities to hire new talent. Instamojo, a growth gateway platform for Micro, Medium & Small Enterprises (MSME’s) that enables them to build, manage and grow their business online, has announced permanent work from home as a flexi-working option for employees. With that development, the startup has recruited over 50 percent of its new hires form Tier 2 and 3 cities. The company said in a release, “A year since the pandemic, India Inc has now become accustomed to the new normal which also introduced the trend of remote hiring. With no barriers of location, Instamojo had access to a wider pool of talent to choose from, especially for technical roles. With an employee strength of 140 people across the country, the recent hiring cycle saw new hires from Tier II and III towns such as Krishnagiri, Kolar, Dehradun and Sitapur.” In the last three months, the company has onboarded new employees across multiple verticals including tech, marketing and product teams. Founded in 2012 by Sampad Swain, Akash Gehani and Aditya Sengupta, Instamojo was one of the first startups from India to join the prestigious 500Startups Silicon Valley Accelerator Program. It has also been featured as one of the hottest start-ups by Economic Times in 2015. Instamojo constantly works towards creating significant innovation in digital commerce, which is universally accessible to create newer opportunities & sustainable livelihoods for MSMEs. The company recently raised Pre-Series C funding to expand their business and enter overseas markets. Commenting on the company’s recent hiring cycle, Akash Gehani, Co-Founder & COO, Instamojo said, “The pandemic brought in an array of changes, not just impacting the economy but the way India Inc coped too. Geographical locations were no more a barrier, and with COVID-19 changing work norms across organizations, hiring also witnessed a 360 degree shift. Candidates were hired and on-boarded virtually. While..
Read more at: https://www.peoplematters.in/news/strategic-hr/instamojoannounces-permanent-work-from-home-28240
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IDBI Intech appoints new Chairman of the Board Suresh Khatanhar comes with a rich experience of more than 36 years in commercial banking and has held various leadership positions within IDBI Bank over the past decade. IDBI Intech Ltd. (Intech), a wholly-owned subsidiary of IDBI Bank Ltd., announces the appointment of Suresh Khatanhar as the new Chairman of its Board. Suresh Khatanhar takes on the new role in addition to his position as the Deputy Managing Director at IDBI Bank Ltd.
Commenting on the appointment, Surajit Roy, MD & CEO, IDBI Intech, said, “I am pleased to welcome Suresh Khatanhar to the IDBI Intech family. We are a NextGen technology company focused on integrating disruptive technologies with the objective of helping our customers win in their digital journey. We are harnessing new-age technologies like Artificial Intelligence and Machine Learning for cognitive breakthrough innovations, joining the dots in the entire life cycle of the digital customer experience. Suresh Khatanhar brings over three decades of rich experience in the BFSI space and he will be an asset to our disruptive business growth.” He comes with a rich experience of more than 36 years in commercial banking and has held various leadership positions within IDBI Bank over the past decade. Speaking on his appointment, Suresh Khatanhar, Chairman of IDBI Intech Ltd., said, “IDBI Intech holds a strong position in providing technological services to the BFSI segment, through its future-ready digital offerings and delivery of innovative solutions. The company has been demonstrating significant progress and performance over a period of time and I am looking forward to contributing positively to sustained and disruptive growth.”
Read more at: https://www.peoplematters.in/news/leadership/idbi-intechappoints-new-chairman-of-the-board-28239
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Learning is the key to landing better opportunities: 68% of employees According to a recent report by Simplilearn, over half of the participating employees said they expect upskilling to provide better opportunities in 2021 or lead to pay raises and promotions in their current jobs. Simplilearn, the online earning company has recently published the findings of its annual survey report titled ‘IT Skills Training Trends: 2020 and 2021’. The survey was conducted to understand how 2020 has affected work environments and what are aspirants doing to prepare for the various eventualities that they foresee in 2021. The year 2020 saw the evolution of a changing business landscape. This in turn resulted in changes to job requirements which prompted both working professionals and job seekers to invest in new skills and to ensure that they prepare not only for today but for an ever-changing future. The Simplilearn annual report focuses on the impact of the past year, expectations in the year 2021, and how job aspirants are adapting to the new ecosystem.
Here are some of the highlights from the report: How 2020 impacted career plans • 14% of respondents lost their jobs • 41% of mid-career professionals felt stagnant in their careers • In large organizations, 25% of professionals felt stuck • Professionals in Consulting, Finance, and Healthcare/Pharma were more likely than others to feel stuck • Professionals in Consulting, Finance, and Healthcare/Pharma were more likely than others to feel stuck • Professionals in Manufacturing and Finance were more likely to report job losses..
Read more at: https://www.peoplematters.in/news/training-development/learningis-the-key-to-landing-better-opportunities-68-of-employees-28223
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