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H R BULLETIN VOLUME 100
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H U M A N E - R | V O L U M E 100
HR BULLETIN
India registers 9% YoY employment rate as hiring continues to boom: Monster report The hiring boom has been experienced by cities like Coimbatore, Mumbai, Delhi-NCR and Hyderabad.. As per the latest study by Monster Employment Index, the job market continues to show growth for the second consecutive month of FY23 with a benchmark year-on-year recovery of 9% in May 2022. Industries such as Telecom, BFSI, and Import/Export have exhibited optimistic job trends contributing to the overall annual growth in job posting activity. As per the research, Import/Export witnessed a rise in job postings for talent by 47%, the highest ever increase recorded over the past year for this segment. Furthermore, in line with the new wave of digitization, cashless payments and digital money, job postings in BFSI (38%) stayed steady, followed closely by Telecom/ISP (36%) which will witness further job amplification on the back of the anticipated 5G rollout in India.
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Travel and Tourism (29%) has exhibited a full recovery surpassing marginal and even negative escalation patterns observed over the last four quarters. In fact, the segment has almost doubled in growth since the previous month (April) which recovered at 15% annually. This apart, with offices ramping to return to work full time and the economy warily falling back to pre-Covid norms, sectors such as Office Equipment/Automation (11%), Real Estate (25%) have seen promising growth patterns. Retail (11%) continues to hire with moderate growth this month. On the other hand, having observed a dip since Sept ’21, Media & Entertainment (down 19%) continues down a steep slope of decline indicating a long way towards post-pandemic recovery. Online recruitment activity contracted in Engineering, Cement, Construction, Iron/Steel (down 9%) although minor improvement was seen last month. Shipping/ Marine (down 4 %) also noted a first annual dip from a year ago level. Tier-2 markets mark long term recovery City-specific data indicates that Coimbatore (27%) tops the chart once again surpassing growth numbers witnessed by top metro cities in India, tailed by Mumbai (26%). Delhi-NCR and Hyderabad marked a 16% annual growth in job opportunities, closely followed by metro cities Chennai (15%), Pune (13 %), Ahmedabad (15%), Bangalore (9%) and Kolkata (6%). The BFSI industry particularly saw substantial hiring activity once again across key metro cities with the highest spike in Pune and Delhi-NCR. Tier-2 job markets continue to fuel hopeful employment patterns this May 2022 across Baroda, Chandigarh, Jaipur and Kolkata which reflected growing annual demand in the range of 2% to 12%. Job creation in said locations continues to emerge consistently since the previous month indicating bullish prospects for employment generation.
Travel and Tourism roles surge as India returns to the old normal Hiring demand for Travel and Tourism professionals observed a spike of 27% for the third consecutive month as a result of limited travel restrictions and improved economic recovery. Online job posting activity for Finance & Accounts (49%) and HR & Admin (36%) roles led the growth pie and are estimated to continue on this path in the coming months. Online hiring for Customer Service (16%) roles witnessed double-digit rise annually for the first time since the onset of the pandemic. Moreover, Software, Hardware, Telecom (13%), Marketing & Communications (11%), Engineering/ Production (4%) Healthcare (3%) and Arts/Creative (5%) saw a positive demand trend when compared to May 2020.
Sekhar Garisa, CEO - Monster.com, a Quess company said, "The beginning of FY23 has shown positive hiring scales given the anticipated 5G rollout and the recovery of several business segments across the country. So far, the Indian job market is faring well despite the current sentiment on sobered hiring. Recruiters have not scaled down their ambitions to hire talent and there is most definitely unmet demand in the market today."
Read more at: https://www.peoplematters.in/article/recruitment/india-registers9-yoy-employment-rate-as-hiring-continues-to-boom-monster-report-34224
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Charm Offensive: How organisations are persuading employees to return to office “Return to Office” is easier said than done. No wonder, companies are trying every trick to lure employees back to offices and to make the transition seem less like “a bad dream” but more like “remember the time office used to be fun”. When life gave us Covid - and its disruptions on how and where we do our jobs from, it also gave us work from home. A world where we put on a crisp white formal shirt and paired it with comfortable pyjamas or when we woke up literally seconds before that Monday morning catch-up call. Work was good and just then - the employers wanted us to come back to offices! As the world learns to live with COVID, organisations across the globe are preparing to transition back to physical office working. The latest to join several big companies who are calling employees to return to the office is Tesla Inc, whose CEO Elon Musk went to the extent of telling employees to return to their workplace or quit! However, “Return to Office” is easier said than done! It isn’t as simple as sending a “Looking forward to seeing you in the workplace” email to employees.” Employees at several companies have been showing their ‘great resistance’ against the call to return to offices, and many others became a part of the ‘great resignation’ when asked to do so. No wonder, companies are trying every trick to lure employees back to offices and to make the transition seem less like “they’ve woken up from a bad dream” but more like “remember the time office used to be fun”. Meet-and-greet with leadership Intel India has undertaken numerous initiatives to make its employees feel comfortable and ease the whole process of coming back to the office. “At an elementary level, we encourage our managers to be in the office during meetings and switch on their cameras, giving employees a feel of the office environment…
Read more at: https://www.peoplematters.in/article/strategic-hr/charmoffensive-how-organisations-are-persuading-employees-to-return-to-office34213
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You need a 'CPO' to face the future No, it’s NOT a chief people officer that you need for steering a course through uncharted waters half a century later. Who’s this mysterious new presence in the C-suite? Almost fifty years have gone by. We are in 2066 and visiting the headquarters of a large company. We walk to the corner office on the top floor and find the familiar 'CEO' descriptor below the name. But, what’s this? Where we would have expected the CHRO and CFO cabins, is one as large as both would have been together. On the door is the legend 'CHO' which, we later discover, stands for Chief Happiness Officer – happiness (of customers, employees, investors and society at large) having become the metric for measuring organizational performance.1 But here’s another puzzle: Just opposite and just as large is the room for the 'CPO’.
Could the wily HR guys have sneaked in a Chief People Officer after consigning the chief bean-counter to a tiny accountant’s cubicle several floors below? No fears. Successive waves of automation, productivity intensification and contractualization have brought the employee strength so low that the HR leader’s workspace is just as tiny as and next to the accountant’s. Maybe it’s that cheeky tech chap, claiming credit for all improvement, congratulating himself publicly as the Chief Progress Officer. It couldn’t be, though. All the worthwhile tech has long since been outsourced. That must be it, then. Since the traditional corporation has been fissured2 beyond recognition and most of the juicy bits now lie outside its boundaries, it’s the Chief Purchase Officer who must have grabbed pole position. Not at all. The purchase head honcho has indeed become far more important but, even so, merits a place only on the next lower floor. Who then is this mysterious 'CPO' who holds no legacy from any function with which we are familiar today? …
Read more at: https://www.peoplematters.in/article/strategic-hr/charmoffensive-how-organisations-are-persuading-employees-to-return-to-office34213
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H U M A N E - R | V O L U M E 100
The Leadership Blindspot: Succession Planning during the Attrition Boom With leadership changes and employee movements putting organisations in a state of flux, this exclusive webcast session will turn the table by delving deep into what goes into building futureready succession models to secure the best CXOs. Succession planning is a critical differentiator in deciding whether an organisation will have a successful year or stay in the red. This is why there needs to be careful consideration regarding who is appointed to steer the ship forward, given that a direct impact will be felt on productivity levels, change management and hiring costs. In partnership with upGrad for Business, People Matters hosted a webinar to take this very conversation forward and empower enterprises in their journeys to find their future leaders. “The attrition boom in India has not limited itself to the front line of businesses but also Leadership, with only 39% senior executives planning to stay in an organization for more than 2 years as per a report released by KellyOCG. 40% of CEOs are hired from outside the organization and reportedly fail to meet performance goals in the first 18 months of their tenure, yet most organizations hire leaders externally instead of grooming successors from their internal talent pool.” said Minaxi Indra, President, upGrad for Business as she opened this exclusive session and highlighted the opportunity costs of not investing in solid succession models. Moderated by Indra, this webcast had industry leaders Gaurika Tandon, Head-Learning & Engagement, Bennett, Coleman, & Co. Ltd….
Read more at: https://www.peoplematters.in/article/leadership/the-leadershipblindspot-succession-planning-during-the-attrition-boom34247?media_type=article&subcat=strategic-hr&title=the-leadership-blindspotsuccession-planning-during-the-attrition-boom&id=34247
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Changing landscape of Indian laws concerning remote working While many organizations have shown their openness towards adopting flexible/hybrid working models, some of them are reluctant to make the switch. A key challenge lies in exercising control and supervision over employees who are working remotely. In the wake of lockdowns imposed as a result of the COVID-19 pandemic, companies around the world were forced to implement flexible working models. What once seemed a far reality, has now become the most adopted mode of working by organizations globally. Flexible working arrangements are developing swiftly, its variations are proliferating, and have gained popularity. Various reports and surveys suggest that employees have overwhelmingly responded to flexi-working arrangements. Many analyses have shown that there has been considerable improvement in employee productivity and morale. As part of the 2022 State of Remote Work report, ‘86% of employees either wanted fully-remote or remote-first work environments going forward’. Further, a survey by Gartner reveals that ‘50% of Indian Hybrid Workers Consider Themselves More Productive When Working Remotely’. Some companies, like Twitter, Reddit, SAP etc., have shifted to a permanent flexible work model. While many organizations have shown their openness towards adopting flexible/hybrid working models, some of them are reluctant to make the switch. A key challenge lies in exercising control and supervision over employees who are working remotely…
Read more at: https://www.peoplematters.in/article/strategic-hr/changing-landscape-ofindian-laws-concerning-remote-working-34238
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