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H R BULLETIN VOLUME 18
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HUMANE-R|VOLUME18
HR BULLETIN
5 progressive ways Tata Realty is pioneering the new work reality The real-estate company has not only tried to make the sector more friendly for women, but has taken steps to build its own unique cultural framework If there is one company that COVID-19’s new work normal did not catch off guard, it is Tata Realty & Infrastructure. The real-estate company was already in the process of executing many organisational changes that are now a reality for companies across the world. Reena Wahi, SVP, head-HR, Business Excellence & CSR, Tata Realty & Infrastructure, walks HR Katha through the key initiatives introduced by the Company this year. The new realities imposed by the global pandemic, in fact, made the execution of many initiatives easier for Tata Realty. Additionally, the Company is a step ahead in embracing not just a remote work culture driven by the latest technology, but also trailblazing aspects, such as peer appreciation, flexible management and gender diversity. While these initiatives have certainly proved their mettle for the Company and its employees, they also hold key learnings for the real-estate industry and HR professionals at large.
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1. Digital evolution It wasn’t COVID-19 that propelled digital adoption for Tata Realty & Infrastructure. The Company was already in the process of evolving into a digitally-savvy workforce when the pandemic hit. “We were lucky that we embarked on this journey and by the time we were kicking it off, the pandemic had started,” says Wahi. “Therefore, we didn’t have to struggle to drive the adoption for our employee engagement and connect plan during the lockdown.” It is the changing workforce demographic that inspired the Company to think digital. “We were hiring a lot of GenY and GenX talent, and some from outside real estate,” explains Wahi. “They’re very digitally savvy and are looking for a work culture that a new-age economy company would offer.” This observation, coupled with the need to leverage the new talent led the Company to strive towards a more “digital employee experience, keeping the human aspect in mind” says Wahi. “Besides, as the economy is changing, it has become imperative for your own talent to be digitally savvy.”
“SOME OF OUR CHANGES WERE DRIVEN BY THE WANT TO INTRODUCE A NEW CULTURE. WE WANTED TO MOVE AWAY FROM BEING A VERY ‘SALES’ ORGANISATION.”
2. In-house tech To make it a seamless experience, Tata Realty partnered with Paris-based Sociabble, an employee communications and advocacy platform. “We noticed that remote work depended on too many different platforms to function efficiently,” says Wahi. “With Sociabble, we launched an in-house tool that brings all these features under one roof.” The tool combines the best functions of all the technology being used for virtual work today. It allows Tata Realty’s employees to collaborate on projects, interact socially, as well as reward and recognise each other. It also encourages employee advocacy and enables employee-engagement activities. In addition to Sociabble, the Company joined forces with Oracle’s Human Resources Management System. “This made a lot of admin and HR-related tasks accessible to employees,” shares Wahi. It resulted in “a fair degree of transparency and the ability to do things on their own instead of relying on HR or their manager”. 3. Cultural revival When Tata Realty & Infrastructure was born in 2018, as a result of the integration of two Tata companies, the Company’s leadership had begun building a new cultural framework, which was put into practice this year. “Although we are a Tata company, there are certain aspects which are unique in the context of our organisation,” explains Wahi..
Read more at: https://www.hrkatha.com/culture/5-progressive-ways-tata-realty-ispioneering-the-new-work-reality/
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Travel and recreation employees 3.8 times more likely to switch sectors LinkedIn data suggests that professionals from the retail space are 1.5 times more likely to seek employment in other industries With the pandemic causing flights to be grounded and international borders to be sealed, the travel, recreation, aviation and hospitality sectors have been the worst affected. Therefore, it does not come as a surprise when data from LinkedIn shows that, professionals from the recreation and travel space are 3.8 times more likely to seek jobs in other sectors, whereas those from the retail space are 1.5 times more likely to switch sectors. There is a 1.4 times more likelihood of professionals in corporate services switching to other industries. LinkedIn’s Workforce Confidence Index data reveals that 62 per cent professionals in the country are ready to switch sectors and careers in search of employment. The data from LinkedIn also indicates that things are looking up as far as the labour market in India is concerned. While there was a 12 per cent year-on-year growth rate in hiring in August 2020, the competition for jobs is 30 per cent more. This means, 30 per cent more people will be competing for jobs than in 2019. Internal hiring has also been on the rise in the Asia Pacific regional. Job opportunities in the technology sector are on the rise. With demand for digital skills increasing by the day, it is expected that there will be 150 million more technology-related jobs available for the taking in the next five years. The demand for software engineers is the highest in LinkedIn, ranking amongst the top five. Application developers, full-stack engineers, system analysts and business analysts rank second, third, fourth and fifth. The skills that Indian professionals seek the most is the Python Programming language, followed by machine learning, data structures, digital marketing..
Read more at: https://www.hrkatha.com/retirement/travel-and-recreationemployees-3-8-times-more-likely-to-switch-sectors/
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50,000 jobs may be slashed at Wells Fargo The Bank has been closing some of its branches as part of its cost-cutting measures Social media posts indicate that the dreaded layoffs have begun at Wells Fargo. The impact will be felt across all departments, business lines and operations of the American financial services company. Plans to lay off about 20 per cent of its over two lakh strong workforce had been revealed in early October. About 700 job cuts had already been reported in the Company’s commercial banking group. With the focus on delivering better customer experience, the Company is aiming to become a leaner and more efficient organisation. Wells Fargo is working to improve the experience for its customers, employees, communities and shareholders. To accomplish this objective, the Company will have to resort to reducing its workforce, cutting down expenses and bringing in more agility. The whole exercise is expected to be carried out in a transparent manner and the affected employees will be given appropriate severance and support with outplacements. Wells Fargo has been struggling to handle financial issues for two years now. The pandemic has only added to the woes. The shares of the Company fell to the lowest ever in ten years. Recently, the Bank shared with its employees its plan to stop matching contributions to their 401(k) plans, for those whose incomes exceeded $250,000 annually. This decision to bring down eligibility for the retirement plan match, which is capped by the government at $17,100 per employee in 2020, is the Bank’s most significant move that affected its higher-paid employees. The Bank has been closing its branches as part..
Read more at: https://www.hrkatha.com/news/50000-jobs-may-be-slashed-atwells-fargo/
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Bonuses galore ahead of Diwali across the country While the staff of Pune Municipal Corporation and the Puducherry state government will enjoy bonuses despite a bad year, the staff of BMC are demanding higher bonus for their hard work during the pandemic The Pune Municipal Corporation (PMC) has made special provision for an amount of Rs 80 crore, to pay Diwali bonus to its employees. Despite the financial situation of PMC being far from strong, it has decided to go ahead and pay the bonus, in appreciation of the hard work of the staff during the pandemic. All staff working in various departments at the civic headquarters, ward offices, municipal schools, infrastructure offices, etc. will be paid bonus.
Meanwhile, in Puducherry, Chief Minister V Narayanasamy has announced a Diwali bonus of Rs 6,908 for nongazetted group ‘A’, ‘B’ and ‘C’ staff, and a sum of Rs 1,200 as bonus to to full-time casual staff in government departments. This will mean an expenditure of Rs 18 crore for the state government and about 26,000 employees will benefit from the same. In Mumbai, however, the Brihanmumbai Municipal Corporation (BMC) employees are not very happy and have demanded a higher bonus. Last year, the employees received Rs 15,000 as Diwali bonus, but this year they are seeking Rs 40,000 as bonus, considering the hard work they put in during the pandemic. The revenue of BMC dropped by 40 per cent during the pandemic. It has managed to keep aside a budget of Rs 153.14 crore for the bonus. The workers are likely to received Rs 17,000 as bonus even though they are demanding just the double..
Read more at: https://www.hrkatha.com/news/bonuses-galore-ahead-of-diwali-acrossthe-country/
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Child care leave for male single parents in Central govt The CCL can be availed at 100 per cent leave salary for the first 365 days and 80 per cent leave salary for the next 365 days. Henceforth, men employed in the Central government and who are raising children as single parents, will be entitled to child care leave or CCL. This means, men, who are not married, are widowers or raising a child by themselves can avail of this leave. Any male employee on child care leave will be able to leave the headquarters with prior approval of the competent authority. He will also be allowed to avail the leave travel concession or LTC even if he is on child care leave. The child care leave may be granted at 100 per cent of leave salary for the first 365 days and 80 per cent of leave salary for the next 365 days. In case of a disabled child, the condition of availing child care leave up to the age of 22 years of the child has been eliminated. There will be no age restriction from now on. These changes in leave policies are part of the governance reforms being introduced in the Department of Personnel and Training (DoPT) over the last six years. The objective is to ensure that government employees remain motivated to put in their best at work. Child Care Leave was usually granted to women employees for a maximum of two years or 730 days, during their entire service, to take care of their children, up to the age of 18.
Read more at: https://www.hrkatha.com/news/child-care-leave-for-male-single-parentsin-central-govt/
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