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H R BULLETIN VOLUME 20
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HR BULLETIN
BankBazaar to hire 500 people by March, roll out salary hikes from January BankBazaar, which recently announced that its revenues are back to 70 per cent of the peak pre COVID19 revenue, plans to scale up its digital know your customer (KYC) offerings to facilitate contactless access to credit, a statement said. BankBazaar.com on Wednesday said FY21 will be a year of growth for the fintech company despite challenges, and it plans to hire over 500 people over the next few months to support business expansion. The company will also roll out wage hikes and promotions across all levels effective January 1, 2021. BankBazaar, which recently announced that its revenues are back to 70 per cent of the peak preCOVID19 revenue, plans to scale up its digital know your customer (KYC) offerings to facilitate contactless access to credit, a statement said. "Majority of the over 500 hires (to be added by March 2021) would be for the technology and customer service domains as BankBazaar looks to accelerate innovation and enable faster integration of digital KYC and analytics solutions the key growth drivers for the company," it added.
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Hiring will take place across all BankBazaar locations in Chennai, Bengaluru and Mumbai. The open positions are mostly in the engineering and product teams, apart from customer support. The company currently has about 1,000 employees. BankBazaar was on path to hit earnings before interest, taxes, depreciation, and amortization (EBITDA) positivity when COVID19 hit in March 2020. The company said despite temporary setbacks due to the pandemic, BankBazaar retained the growth momentum with six months of straight revenue growth. This was achieved without any additional costcutting or reduction in employee strength during the pandemic, it added. Adhil Shetty, cofounder and CEO of BankBazaar, said the company's performance in the last seven months underscores the strength of its technology and its ability to help partners in their journey towards an entirely contactless lending process. "We are continuing to see an increase in the demand for digital alternatives, and we are readying ourselves with a bigger and more diverse team to drive the next phase of growth and profitability at BankBazaar," he added. The company's operating revenue for FY20 was at Rs 80.2 crore. Apart from the hiring effort, the company is also rolling out salary increments and promotions across all levels effective January 1, 2021. Salary hikes will be identical to previous years. The company has also paid out bonuses for FY20 to the eligible employees. "We believe that FY21 will be a year of growth despite the challenges as India adopts contactless processes more than ever. We are positive about hiring and are looking to welcome professionals who are culturally and technically fit to meet our organisation's high growth goals," BankBazaar Chief HR Officer V Sriram said. BankBazaar's usual increment cycle is AprilMarch but this was delayed this year after the pandemicinduced lockdown disrupted businesses across the country. The average increment given by the company is upwards of 8 per cent. The salary hike has been extended to all employees, even those who were not eligible for a hike in FY20 cycle, Srira
Read more at: https://economictimes.indiatimes.com/jobs/bankbazaartohire500 peoplebymarchrolloutsalaryhikesfromjanuary/articleshow/79168639.cms
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Dun & Bradstreet India names new MD Avinash will lead Dun & Bradstreet’s continued work to enhance the breadth and depth of its local data and provide marketleading solutions and insights to help businesses in India to thrive.
Leading global provider of business decisioning data and analytics, Dun & Bradstreet, has appointed Avinash Gupta as its new Managing Director for India. Avinash will lead Dun & Bradstreet’s continued work to enhance the breadth and depth of its local data and provide marketleading solutions and insights to help businesses in India to thrive. In his new role, Avinash is responsible for the execution of Dun & Bradstreet India’s business strategy and ongoing transformation, including the expansion of digital solutions and integration capabilities to support clients of all sizes from MSME through to Enterprise. He reports directly to Neeraj Sahai, President of Dun & Bradstreet’s International business. “ Neeraj Sahai, President – International, Dun & Bradstreet said, “India continues to be an important market for Dun & Bradstreet’s international business and is key to our growth strategy. Avinash’s significant experience in a broad range of roles will be invaluable as Dun & Bradstreet continues to expand over the coming years. His strategic acumen, industry experience and market knowledge will be instrumental to delivering value for our clients and supporting businesses in India with their growth ambitions.” Avinash is an executionfocused, senior executive with a strong global background, more than three decades of experience, and a vast network of business relationships across the financial services sector. Prior to joining Dun & Bradstreet, Avinash worked for Rabo Equity Advisors where he had been Managing Director since 2018. His previous roles include leading Deloitte’s Financial Advisory Services in India, several leadership positions within global investment banking at HSBC, and roles at UBS, ING, and Citibank..
Read more at: https://www.peoplematters.in/news/leadership/dunbradstreet indianamesnewmd27604
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62% of MBA students plan to change employer: Study A new survey by AMBA and the Business Graduates' Association finds that MBA students are very likely using their studies as a springboard to change jobs by expanding their skills and knowledge. A new survey by the Association of MBAs and the Business Graduates Association has found that more than half of MBA students do not intend to return to the same job once they complete their studies. The survey, which actually aimed to understand how students are managing to balance their various commitments amid the pandemic, was conducted between March and May this year and covers respondents from around the world. Within the 62 percent of respondents who said they plan to change jobs, 29 percent are planning to move to a different company and different industry, but with the same job function; and 33 percent are planning to move to a different company in the same industry, with a different job function. Only 16 percent actually said they would stay with their current company. The possibility that MBA students are using their studies as a springboard to move on to a new position is somewhat substantiated by students' stated objectives in completing an MBA. 51 percent admitted their main reason for the MBA was to change career, while 49 percent said they wanted to help differentiate themselves in the job market. At the same time, the larger majority of students are clearly out to expand their skills and knowledge. 70 percent said they wanted to "acquire more skills and knowledge about the business world", while 69 percent said they wanted to expand their area of expertise. Specifically, students were most interested in dev..
Read more at: https://www.peoplematters.in/news/trainingdevelopment/62 ofmbastudentsplantochangeemployerstudy27600
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inFeedo raises US$3.2 mn in oversubscribed round The startup, which runs an employee experience chatbot, plans to use the funding to expand its Asia Pacific operations and customer base. SaaSbased people analytics startup inFeedo, which operates an employee experience chatbot to identify disengaged employees who are likely to leave, announced this week that it has raised US$3.2 million in an oversubscribed funding round led by former Khosla Ventures partner Benjamin Ling, the founder of Bling Capital. Other participating investors include Maninder Gulati, Chief Strategy Officer at OYO, Munish Varma, Managing Director for EMEA at SoftBank, and Girish Mathrubootham, founder of Freshworks. This is inFeedo's second successful funding round in 2020—the company had earlier this year raised US$700,000 from startup accelerator Y Combinator and other successful entrepreneurs. Ling said of the latest funding round that inFeedo is well positioned for growth: "The timing couldn't have been better from a market perspective—employers are looking for ways to better connect with and empower their employees.” inFeedo's CEO and founder Tanmaya Jain said that the startup is looking to expand its customer base in the Asia Pacific region, with the objective of achieving US$10 million in revenue, and is now hiring for key leadership roles across its engineering, product, and marketing divisions. "We are already cashflow positive and growing fast but 2020 taught me the importance of building a war chest and a team of Aplayers that can help you stand out even during a crisis," Jain said. "With this fundraise, we will reinforce our belief to invest in incredible individuals driven by curiosity to unlock our next phase of growth. Most importantly, I'm extremely grateful to see the kind of wealth we've been able to create during a pandemic for our employees and investors, who stuck with us through thick and thin."
Read more at: https://www.peoplematters.in/news/hrtechnology/infeedoraisesus32 mninoversubscribedround27599
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4.8 million aviation jobs at risk globally: IATA Air travel demand has fallen drastically this year, with a drop of more than 75% in August 2020 as compared to August 2019. The International Air Transport Association (IATA) and the International Transport Workers’ Federation (ITF) in a joint statement issued on Tuesday stated that about 4.8 million aviation workers’ jobs are at risk due to poor air travel demand caused by the pandemic. The associations called for urgent government intervention to prevent an employment catastrophe in the aviation industry. Air travel demand has fallen drastically this year, with a drop of more than 75% in August 2020 as compared to August 2019, putting at risk close to 5 million jobs, as per estimates from the Air Transport Action Group. In view of this, IATA and the ITF made the joint call to governments to provide continued financial support for the aviation industry and safely reopen borders without quarantine by implementing a globally harmonized system of predeparture COVID19 testing. IATA added that the impact of COVID19 related border restrictions and quarantine measures has effectively closed down the aviation industry, grounding planes and leaving infrastructure and aircraft manufacturing capacity idle. "Alexandre de Juniac, IATA’s Director General and CEO said, “Aviation faces an unprecedented employment catastrophe. Airlines have cut costs to the bone, but have just 8.5 months of cash left under current conditions. Tens of thousands of jobs have already been lost, and unless governments provide more financial relief, these are likely to increase to the hundreds of thousands.” He added that governments need to work together to safely reopen..
Read more at: https://www.peoplematters.in/news/employeerelations/48million aviationjobsatriskgloballyiata27597
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