IIM ROHTAK H U M A N E - R CLUB P re s e n ts
H R BULLETIN VOLUME 37
humane.r@iimrohtak.ac.in
HUMANE-R|VOLUME37
HR BULLETIN
India Inc. wants to go back to office: Indeed As per a survey by jobs site Indeed, 59% of employers are not in favor of remote working in the new normal and 7 in 10 say they will not continue it once a solution to the pandemic is in place. Indeed has studied the migration of white-collar employees from tier-1 cities of employment to their native towns – the triggers, the trade-offs, and the outlook of employers. Surveying employees and employers across 12 cities in India, India’s Job Market: The Pandemic & White-Collar Migration report by Indeed focuses on the trend of reverse migration as economic recovery accelerates.
Indian companies appear less willing than their global counterparts to support remote work post-pandemic. 59% of employers are not in favor of remote working in the new normal and 7 in 10 say they will not continue it once a solution to the pandemic is in place, even as 3 out of 4 employers highlight no decline in employee productivity due to remote working. 67% large and 70% mid-size Indian firms, as opposed to their global counterparts (60% large and 34% mid-size), are not in favor of a post-pandemic, remote working set-up.
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Even digitally agile startups indicated they will revert to an in-office model post the pandemic with 90% saying they would not like to continue remote working once a solution for the pandemic was in place.
This survey was conducted by ValueVox on behalf of Indeed among 1200 employees and 600 employers. The survey was conducted between the month of December 2020 and January 2021. Here are a few more highlights: Reverse migration is a passing trend 46% of employees also said reverse migration is temporary and 50% of employees said they were willing to shift back to a metro from their native place if the job demands it. They attributed a future return to aspects like availability of WFH options (29%) and bringing the pandemic under control (24%), with only 9% saying they will stay on in their native places permanently. 1 in 2 employees says they are willing to shift back to a metro if their job demands it and only 32% are willing to take any form of pay cut even if it means finding a job in their native place. The willingness to take a pay cut in order to work from their hometowns decreases with hierarchy – 88% seniorlevel employees say they were unwilling to take a pay cut and 50% say they would shift back to a metro if their job demands it.
Women more willing to move 60% of female employees, more than double their male counterparts (29%), say they are willing to relocate to their hometowns owing to the lack of a family support system in a current environment marked by quarantined living conditions or employers aiming to reduce the cost of employees by increasing working hours. However, women (60%) are more unwilling than men (42%) to take a pay cut to continue working from their hometowns. In a situation that already threatens to widen labor market inequalities, 59% of women, over 29% of men, believe it will be difficult to find a job in their native place. 60% of female employees say they are willing to move back to a metro from their native place if the job demands it.
Will remote working foster development in Tier-2/3 cities? 30% of employers might consider setting up operations in small towns to take advantage of the reverse migration trend. Large and medium businesses – both global and Indian – are willing to set up new operations or enhance existing operations in Tier-2/3 cities in significant numbers varying from 50% to 88%. In addition, 50% of employees are optimistic that reverse migration can cause their hometowns to develop into metros either in the near future (21%) or in the long term (29%). While employers list internet services (30%), app-based businesses (30%), and retail, healthcare, and entertainment centers (27%) as key areas for business development in metros of the future, more than half of employers (55%) said there are talent shortages in upcoming metros. This could serve as a deterrent to employers, indicating that reverse migration could be a temporary phenomenon. As per Sashi Kumar, Managing Director, Indeed India, “remote” and “WFH” job searches were up 437% in March 2021 from the same period last year, which is a reflection of rapidly evolving work modes…
Read more at: https://www.peoplematters.in/news/employee-relations/india-inc-wantsto-go-back-to-office-indeed-28786
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Accenture recognizes employee contribution with one-time bonus Recognizing exceptional employee contribution and dedication towards clients through a challenging year, IT major Accenture has announced a one-time bonus for employees, equivalent to one week of base pay. Global IT and professional services giant Accenture has announced a one-time bonus for employees, in recognition of their exceptional contributions and dedication towards clients through a challenging year, said a company statement. Applicable to employees below the Managing Director cadre, the bonus will be equivalent to one week of base pay. Presently, Accenture claims to have an employee count of 5,37,00, serving clients in more than 120 countries. The second quarter of fiscal year 2021 ended February 28, 2021, on a promising note for Accenture, with revenues of $12.1Bn - a jump of eight percent in US dollars and five percent in local currency in comparison to the same period last year, the company said in a statement. Commenting on the progress and performance over recent months, Accenture CEO Julie Sweet, said, “With our outstanding second-quarter financial results, we have returned to overall pre-pandemic growth ahead of expectations while continuing to take market share faster than before the pandemic.” “We have seen another quarter of strong, broad-based demand for our services across geographic markets and industries, and delivered record new bookings as well as excellent profitability and free cash flow,” she added. Stepping up for employees, particularly in India, earlier this month Accenture also announced that it will cover the cost of COVID-19 vaccination for all of its 2,00,000 employees in India as well as their dependents who are enrolled on the company’s medical benefits programme. The bonus announcement comes as a welcome step from Accenture to boost the confidence and appreciate the tireless efforts of employees in the challenging times that to a great extent continue today..
Read more at: https://www.peoplematters.in/news/benefits-andrewards/accenture-recognizes-employee-contribution-with-one-time-bonus28798 4
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HR Tech firm HappyPlus that measures happiness index raises funding HappyPlus would be utilizing these funds to invest further in technology and for market expansion. HappyPlus Consulting, an AI-ML-enabled Indian firm that measures the happiness index and provides solutions to India Inc., has announced today that it has secured an undisclosed amount of Angel Investment from a Dubaibased HNI. HappyPlus would be utilizing these funds to invest further in technology and for market expansion. Founded by Dr. Ashish Ambasta on the sole theory of building the employer-employee relationship to achieve organizational happiness, the six months old HappyPlus is already providing its services to companies like Tata Steel LP division, TM International (Logistics), Mahanagar Gas Limited (MGL), ABP Network, and a leading Private health insurance company, among others. "The genesis of HappyPlus lied in one of the interviews of cricketer MS Dhoni where he mentioned about a meter to measure happiness while he evaded controversial questions. Though he was joking then, it made me think why can't there be something like a meter which can measure joy or happiness at one particular moment. Unwittingly, MSD inspired me and I started working on this idea. And now, after 7 years, HappyPlus is born," Ambasta said. The tech-enabled HR firm is currently in talks with investors for another round of investments which is expected to close in a few months from now. Meanwhile, the firm is also building a strong team of senior professionals with a clear vision to develop and provide tools, techniques, and solutions for creating happy habits for individuals in the organization.
Read more at: https://www.peoplematters.in/news/hr-technology/hr-tech-firmhappyplus-that-measures-happiness-index-raises-funding-28796
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Clover Infotech to kickstart next fiscal with new CEO and COO Gearing up for its next phase of growth, Clover Infotech has elevated Kunal Nagarkatti as its new CEO, and Siddharth Deshmukh as COO, effective April 1, 2021. Leading digital transformation partner to global conglomerates and leading Indian BFSI customers, Clover Infotech is kickstarting the next fiscal year with a new CEO and COO. The firm has appointed Kunal Nagarkatti as its new Chief Executive Officer and Siddharth Deshmukh as the Chief Operating Officer, effective April 1, 2021. In addition to the two internal movements, Clover Infotech’s Founder & MD, Javed Tapia, will take on the role of Chairman and Chief Mentor, guiding the leadership team on strategic decisions including growth charter, merger and acquisition opportunities, capital raising and global expansion. Founded in 1994, Clover Infotech has been empowering companies across the globe as a technology partner for their digital transformation, legacy modernization, and business acceleration charter. Commenting on the new appointments, Javed Tapia, said, “Clover Infotech has been on a consistent growth path over the last few years under Kunal’s operational leadership. It is an opportune time for us to separate the roles of Chairman and the CEO so that we can focus better on long-term strategic deals as well as organic and inorganic growth opportunities. I am delighted that the board has chosen Kunal and Siddharth to charter the next phase of our growth. I wish them the very best”. Kunal joined Clover Infotech back in 2011 as SVP - Sales, and led sales for the next couple of years before being appointed as COO in 2016.
”Kunal played a key role in enabling Clover Infotech to grow at nearly 25% CAGR in his tenure as COO over the last five years.” He helped the company to make inroads into high-growth accounts and successfully built and grew a team of..
Read more at: https://www.peoplematters.in/news/c-suite/clover-infotech-tokickstart-next-fiscal-with-new-ceo-and-coo-28799
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Standard Chartered CEO of Middle East and Africa joins MoneyTap as Global Adviser Sunil is a member of the bank’s global management team, which is the highest executive body within the bank. He brings around 33 years of rich experience and will advise and guide the Board of MoneyTap as they venture into new Financial and related Services and expand their Global Footprint. Digital moneylender MoneyTap has roped in Sunil Kaushal, Standard Chartered CEO of Middle East and Africa as Global advisor for the company. He brings experience in diverse markets across North Asia, South East Asia, South Asia, the Middle East, and Africa and has held senior roles in Wholesale, Retail, and SME banking, to name a few. “Bala Parthasarathy CEO and Co-founder at MoneyTap said, “With Sunil’s rich experience in digital banking, we feel more poised for our next leg of growth, especially in the international waters. His robust guidance will help us thrive immensely during these uncertain times, and help steer us squarely into the change zone and fast growth. We look forward to this collaboration and hope to leverage his expertise launching MoneyTap into a digitized future.”
Sunil is a member of the bank’s global management team, which is the highest executive body within the bank. He brings around 33 years of rich experience and will advise and guide the Board of MoneyTap as they venture into new Financial and related Services and expand their Global Footprint. “On his appointment, Sunil said, “I am excited to join MoneyTap at this critical juncture when the company is innovating and expanding at a rapid pace. Since its inception, the company has continued to maintain a strong growth trajectory,and I hope that they are able to continue their appetite to redefine the Fintech space as they work on new products.”. As digital transactions steadily grow the world over, it will be interesting to see how Sunil can set up the..
Read more at: https://www.peoplematters.in/news/recruitment/standard-charteredceo-of-middle-east-and-africa-joins-moneytap-as-global-adviser-28782
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