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H R BULLETIN VOLUME 23
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HUMANE-R|VOLUME23
HR BULLETIN
Job creation: India Inc warms up to recruitment theme this winter Teamlease’s hiring intent metric measures the proportion of companies planning to recruit in a
quarter. For October-December, 21% companies show hiring intent, up from an average of 18% in the two-quarters of April-September. The metric was up across company sizes, job levels and urban centres. India Inc’s hiring plans are firming up and the pandemic-caused freeze in recruitments has probably bottomed out, shows a Teamlease Employment Outlook Survey shared exclusively with ET. The survey covered 137 companies in 21 sectors. Notable among sectors that want to hire are IT, healthcare, ecommerce and tech startups, educational services and banking, financial services and insurance (BFSI). Teamlease’s hiring intent metric measures the proportion of companies planning to recruit in a quarter. For OctoberDecember, 21% companies show hiring intent, up from an average 18% in the two quarters of April-September. The metric was up across company sizes, job levels and urban centres.
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A bigger hiring intent, they said, is explained by a combination of reasons, including festive demand, easing restrictions and general pick-up in economic activity. “Hiring intent hit rock bottom amid the pandemic,” said Rituparna Chakraborty, executive vice-president, Teamlease Services. “Since September, we see positivity in companies’ intent to hire. Some sectors are doing better than others… customer revenues are back and that, in turn, has a positive impact on hiring plans,” said Chakraborty of Teamlease. ET spoke to large employers such as the Aditya Birla Group, Infosys, Wipro, RPG Enterprises, Dabur and Lupin, among others, who plan to add to their payrolls in the coming months. Santrupt Misra, chief executive of carbon black business at Aditya Birla Group, said, “As things are opening up, companies will be wanting to do the necessary hiring, which could be replacement, hiring in places where investments were halfway through, or even in some new investment areas.” “Hiring outlook is positive for all our companies – both for replacement as well as new positions,” said S Venkatesh, president, group HR, RPG Enterprises. “We have hired across levels, including senior positions.” Infosys and Wipro are adding thousands to their headcount. Infosys, which is hiring across levels, plans to onboard 17,000 freshers in FY21 and another 15,000 in FY22. “Today’s pursuit for talent is as competitive as ever, led by a growing skills shortage, advancing technologies, generational shifts and evolving dynamics around the nature of work,” said Krish Shankar, executive vice-president and group HR head, Infosys. “We have a robust hiring plan going forward,” said a spokesperson from Wipro, which took on 12,000 people — including campus hires and laterals — in the quarter ending September. “As of now, most companies are in a cost-conserve mode, but the hiring outlook is showing signs of bouncing back,” said Yashwant Mahadik, president, global HR, Lupin. “The healthcare sector wasn’t as badly impacted as certain others, and the recovery is expected to be much faster.” Dabur India has stepped up lateral as well as entry-level hiring. “We are strengthening our talent pool in critical functions like ecommerce, digital marketing, trade marketing, etc,” said its executive director, HR, Biplab Bak..
Read more at: Job creation: India Inc warms up to recruitment theme this winter - The Economic Times (indiatimes.com)
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IndiGo to remove leave without pay scheme for employees from January 1 Due to coronavirus-induced travel restrictions, IndiGo CEO Ronojoy Dutta in May this year, had said that a "limited and graded LWP program" was being implemented for all employees apart from the ones falling in the lowest group Level A. IndiGo CEO Ronojoy Dutta announced that the airline will remove its leave without pay (LWP) program for senior employees from January 1 next year as it expects improved revenues. On account of coronavirus-induced travel restrictions, Dutta in May this year had said that a "limited and graded LWP program" was being implemented for all employees apart from the ones falling in the lowest group Level A. The LWP implemented by IndiGo from May ranged from 1.5 to five days depending upon the employee group. On May 8, IndiGo had also implemented pay cuts for its senior employees ranging from 5-25 percent. The pay cuts are still in place. “In an email sent to employees, Dutta said, "At this point of time, it looks like we are on a path to a graduated and measured recovery, and we are hopeful that the government will allow us to fly 100 percent of our domestic capacity by early next year.“ Indian airlines are currently allowed to operate a maximum of 80 percent of their pre-COVID domestic flights. Meanwhile, IndiGo’s losses sequentially narrowed in the September quarter to Rs 1,195 crore from Rs 2,845 crore, as it operated more flights. Its finance chief Aditya Pande said the airline added Rs 3,000 crore as liquidity with several measures including saving on salary expenses. Dutta added that the airline was flying 60% of its total capacity, and aims to…
Read more at: News: IndiGo to remove leave without pay scheme for employees from January 1 — People Matters
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Educational Initiatives appoints Poornima SP as its vice-president of HR As part of the senior management team of EI, Poornima will be responsible for designing and implementing holistic HR policies to meet short and long-term business requirements, focusing on talent management and development, managerial and leadership capability development, and domain-oriented expertise. Edtech company Educational Initiatives (EI) has brought on board Poornima SP as its vice-president of human resources.
As part of the senior management team of EI, Poornima will be responsible for designing and implementing holistic HR policies to meet short and long-term business requirements, focusing on talent management and development, managerial and leadership capability development, and domain-oriented expertise. Prior to joining EI, she worked as a senior HR consultant with Rapido. For a large part of her career spanning over two decades, she was with Tejas Networks focusing on organisational effectiveness, operational excellence, and driving HR programmes. Her earlier stints were with Cisco and Intuit in their formative years in India. ‘’I am pleased to welcome Poornima as part of our senior management team. Her extensive expertise in the human resources domain will play a critical role in shaping EI’s 21st century culture mindset and establishing a strong foundation to drive productivity through effective resource planning,” Srini Raghavan, co-founder and CEO, Educational Initiatives, told ET. “I am excited to work with a highly committed team, and am eager to build a strong pipeline of inspired and passionate individuals capable of supporting the demanding and ever evolving dynamics of the K-12 business ecosystem,” said Poornima.
Read more at : Educational Initiatives appoints Poornima SP as its vicepresident of HR - The Economic Times (indiatimes.com)
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SC refuses to entertain IMA's contempt plea over non-payment of salaries to doctor Senior advocate Maninder Singh, appearing for IMA, said the salary for April and May was paid after the high court's intervention but no salary was paid again from June to October. The Supreme Court Thursday refused to entertain a contempt plea filed by Indian Medical Association (IMA) against the Delhi Chief Secretary for alleged non-payment of salaries to doctors and asked it to approach the high court which is dealing with the issue. A bench of Justices Ashok Bhushan, R Subhash Reddy and M R Shah said the issue was being dealt with by the Delhi High Court and there is no point in entertaining this plea in the apex court. Senior advocate Maninder Singh, appearing for IMA, said the salary for April and May was paid after the high court's intervention but no salary was paid again from June to October. The bench said the high court had already passed its order on July 29 and it is monitoring the issue. Singh submitted that doctors are termed as frontline warriors and they have to be paid salary on time but there was no substantial hearing in the high court.
He said that after the contempt application was filed in the top court, salaries for the months of June to October were paid to the doctors. Singh contended that doctors should be paid their salary on time to which the bench said that there is no doubt that salary has to be paid and Union of India has already passed an order in this regard.
On July 29, the Delhi High Court had told the AAP government to release to the North Delhi Municipal Corporation (NrDMC) the funds it requires to pay the stipends of the resident doctors in the six hospitals run by the civic body‌
Read more at: SC refuses to entertain IMA's contempt plea over nonpayment of salaries to doctors, HR News, ETHRWorld (indiatimes.com)
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Burger King share sale sees robust response This makes it the second most successful IPO of 2020, in terms of subscription, after Mazagon Dock Shipbuilders The initial public offering of Burger King India, a quick service restaurant chain, witnessed strong interest from investors across categories, reaching a subscription of over 157.16 times till 5pm on Friday, the final day of bidding. This makes it second most successful IPO of 2020 by subscription after Mazagon Dock Shipbuilders which subscribed over 157.41 times. The ₹810 crore IPO has received bids of 11.67 billion against 74.49 million shares issued, according to NSE website. The high-net-worth portion was the most subscribed followed by qualified institutional buyers and retail investors.
Reserve portion for retail investors oversubscribed 67.54 times while the portion set aside for qualified institutional investors is subscribed 86.64 times and that of high net-worth investors 354.11 times. Burger King India, which currently operates 268 stores in India has fixed the price band at ₹59-60 a share. According to analysts, grey market premium soared nearly 58% or ₹34-35 on the final day of subscription. The company will get Rs450 crore from the IPO, which it plans to use to repay its debt and for expansion plans. Existing shareholders, private equity firm Everstone and its co-investors will fetch Rs360 crore from the IPO…
Read more at: Burger King share sale sees robust response (livemint.com)
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