OLX, the online marketplace has shifted into a new office space at AIHP Milestone, Gurugram. This new office, with its inspiring, collaborative workspaces is in line with the company’s growth ambition and aims to fosters innovation and a sense of community among its employees. Calling this move a “significant milestone”, Gaurav Sirohi, chief human resources officer at OLX, says, “This dynamic facility is more than just a workspace; it’s a catalyst for realising our ambitious plans and cultivating a culture of creative thinking and collaboration.” Equipped with multiple meeting rooms for brainstorming and recreational spaces to encourage creativity, the new…
Author: HRK News Bureau
Except for the Bengaluru headquarters, situated in Knowledge Park, Byju’s has shut down all its offices across India. It has asked its employees to work from home till further notice. The tuition centres, however, will remain open. There are about 300 of them across the country. It is reported that as part of a restructuring exercise, last year, Arjun Mohan, CEO, Byju’s, had reportedly already taken a decision to close down offices on expiry of their lease. The closure of all offices now is expected to help tide over the finance crunch being faced by the edtech startup. Despite having…
Esha Soni has joined Masters’ Union as head of human resources. She moves from bijnis where she was vice president-human resources since November 2022. Having begun her HR journey as an HR generalist, first with Syscom Softech and then with URS Certification, it was in 2009 that she took up the role of specialist-human resources, at Aegis, based out of Gurugram. Less than three years into this role, she moved to Quatrro for a very short stint as assistant manager-human resources. From 2013 to 2015, she was associated with Yepme.com as manager-human resources. The year 2015 saw her joining OYO…
To instil strength and confidence in women across various aspects, Wardwizard Foods and Beverages has introduced the “#SheVentures” initiative. The core focus of the initiative is to empower women who aspire to be self-sufficient, acquire business skills and contribute to their families’ improved livelihoods. It aims to make a lasting impact, inspiring women to take charge of their destinies and create a brighter future for themselves and their families. Through this initiative, the company is determined to train 10,000 women in the art of crafting delectable dishes using their QuikShef/Snack Buddy products. The company will conduct comprehensive training sessions, guiding…
Alibaba Group is set to introduce a revised employee-incentive plan starting in April, incorporating a blend of equity and cash. This strategic adjustment aims to enhance the company’s ability to attract and retain talent amid fierce industry competition. In a company-wide memo to employees, the Hangzhou-based firm outlined these changes, naming it means of “improving the certainty and liquidity” of compensation. The move, it is hoped, will bolster the morale within its 2,00,000-plus workforce. Commencing 1 April, employees will receive “long-term cash” in addition to stock options. Notably, the stock options will now vest quarterly instead of the previous annual…
Numerous UAE companies are reducing expenses and enhancing profitability by outsourcing roles to foreign employees, paying them up to 75 per cent less than local counterparts. As per many recruitment experts, UAE firms are mostly hiring remote workers from Asia, the Middle East and South Africa. According to a recent UAE salary report, most companies (87 per cent) plan to hire permanent employees this year. Some (19 per cent) will hire temporary workers, and others (16 per cent) will use freelancers. Many firms facilitate the establishment of remote teams in cost-effective locations, particularly prevalent in recruitment agencies, technology and customer…
Talent tango: Fresh faces, sharp skills, or tech triumph? HR’s 2024 balancing act There is no clear-cut choice between attracting new talent (X option) and developing new skills or adopting new technology (Y option). Analysing the manufacturing sector in India, a combination of both X and Y strategies is essential. The proportion may vary based on factors such as the business cycle, location, product life cycle, business size and short-term versus long-term profit and loss considerations. However, there is a major shift towards the faster adoption of new technology, a trend that will continue to grow in 2024. The ‘build…
It has come to light that 3,365 state government employees in Mizoram have illicitly engaged substitutes to carry out their responsibilities, notably in rural areas. This concerning revelation unfolded in December last year. In response to this information, the government promptly initiated an inquiry, requesting information on substitute employees and encouraging them to voluntarily disclose their involvement by January. As per the data found, the education department recorded the highest number of proxies at 1,115, followed by the health and family welfare department with 624, and the power and electricity department with 253, according to the obtained data. The data…
Morgan Stanley has trimmed its workforce by around nine per cent in China, affecting about 3000 employees. The layoffs have reportedly impact the asset- management division. The downsizing underscores the challenges faced by global financial institutions in China, similar to JPMorgan and BlackRock. The move is said to be prompted by challenges posed by the country’s declining stock market, impacting the $3.8 trillion fund sector outlook. Furthermore, the company now wishes to redirect its focus towards cost reduction, anticipating a delayed rebound in deal making amid recession fears. In December, Morgan Stanley Investment Management, China initiated staff reductions, affecting approximately…
Samsung Group has officially launched its annual public recruitment drive for the year, marking the first comprehensive open recruitment initiative for 2024. The company’s 19 affiliates will be participating in the hiring process on 11 March. According to reports from PressReader, Samsung Group is actively seeking new employees with a goal of recruiting approximately 80,000 individuals over a span of five years, starting from 2022. As the recruitment drive enters its second year, the company is focused on achieving its targeted workforce expansion. The conglomerate’s press release revealed that its 19 subsidiaries, including Samsung Electronics, Samsung Display, Samsung Electro-Mechanics, Samsung…
Bank employee unions and the Indian Banks’ Association have reached a consensus to boost the annual wage by 17 per cent. This projects an additional expenditure of approximately Rs 8,284 crore per year for public-sector banks. Commencing from November 2022, an estimated eight lakh bank employees are poised to enjoy the advantages of this salary increase. The meticulously-crafted new pay structure integrates Dearness Allowance (DA) linked to 8,088 points and additional load. Notably, female employees will now be entitled to one sick leave day per month without the requirement of a medical certificate. Additionally, accrued privilege leave can be monetised…
Vishal Singh, former CHRO, Alumina Business, Vedanta, has joined BPTP, the real-estate organization, as chief human resources officer. With over 27 years of experience backing him, Singh’s professional journey commenced way back in 1997, when he joined Indkom as regional sales manager. His association with HR began in 1999 with Reliance Energy, having joined as head – HR, EPC Business. Five years later, he moved to Deloitte as practice leader –human capital advisory services.This stint, however, lasted less than a year. From 2004 to 2005 he was with Infosys Technologies as manager-organisational effectiveness and talent management consulting. A year later,…
More than 9,000 skilled workers and labourers from Uttar Pradesh have found jobs in Israel. They will reportedly earn Rs 1.37 lakhs per month plus perks. These workers will be employed in the construction sector in Israel. However, trade unions in Palestine are not happy about these recruitments. While over 5,000 were recruited in the first lot, about 4,000 were selected in the second round. The workers will be doing plastering, masonry, mason iron vending, mason framework building and ceramic tiling, among other jobs in the construction space. A team from Israel selected skilled workers following a skill test at…
Due to financial constraints, Byju’s, the edtech startup had been delaying the payment of salaries. It has processed the February salaries for all its employees, partially, and has assured that the remaining dues will be cleared the moment the funds from the rights issue become available. Full salaries have been paid to about 25 per cent of the employees who are part of the lower-salary categories. The rest of the 75 per cent have been paid partially. The delay in the processing of salaries for February had happened due to the funds raised through the rights issue (special stock sale)…
The Government of Kerala has given a two per cent hike in dearness allowance (DA) to its employees, teachers as well as All India Service officers. The dearness relief (DR) for pensioners has also increased by two per cent. That means, the DA will now go up to nine per cent from the earlier seven. Class 4 employees who earn a basic salary of Rs 23,000 will see their income rise by Rs 460. The DA for college, engineering college and medical college teachers, which is presently 17per cent. Judicial officers who are currently getting 38 per cent DA, will…
Max Life Insurance Company has appointed Iqbal Mir as vice president-HR. He moves from Bajaj AllianzL Life Insurance, where he was deputy vice president-HR for a year. Before that, he was AVP HR business partner, Bajaj Allianz Life for almost five years. Mir began his professional journey with Planman HR, as recruitment consultant, in 2008. Less than two years later, he moved to Manpower, as recruitment consultant. For over a year, he looked in recruitment for telecom, manufacturing, engineering, BFSI and the management consulting industry. In 2010, he joined Deloitte as HR business consulting and technology team. Based out of…
After successfully essaying the role of group chief information officer, Ola, for over three years, Rakesh Bhardwarj has joined global pharma firm, Lupin, as chief information officer (CIO). This assignment will see him based in Mumbai and leading Lupin’s global information technology function and spearheading its digital transformation. Bhardwaj is backed by more than 30 years of experience in building and managing cutting edge global IT teams and systems for some of the largest enterprises in the world. Prior to joining Ola in 2021, he worked with big names such as Cognizant, Microland, General Electric and BISIL. His association with…
Talent tango: Fresh faces, sharp skills, or tech triumph? HR’s 2024 balancing act Talent, skill and technology each hold significant importance. A comprehensive HR strategy inherently integrates these elements, recognising their interconnected nature and the collective impact they can exert on organisational success. In HR, especially within industries such as pharma, talent acquisition remains a critical focus due to the high demand for specialised skills. Even in routine roles, acquiring quality talent is paramount. Employer branding and the creation of a workplace culture will appeal to potential candidates. Continuous learning and development are imperative in rapidly-evolving industries such as pharma,…
Greaves Cotton launched a rap anthem video titled ‘#CountMeIn’ to celebrate International Women’s Day 2024, embodying the spirit of diversity, empowerment and unity. In alignment with the United Nations International Women’s Day 2024 theme,’Count Her In: Invest in Women. Accelerate Progress’, the ‘#CountMeIn’ rap anthem video showcases the enthusiastic involvement of employees from various offices, highlighting the Company’s dedication to promoting gender equality and inclusiveness. Varghese M. Thomas, chief communications officer, Greaves Cotton, says,”The#CountMeIn campaign exemplifies Greaves Cotton’s steadfast dedication to nurturing diversity and inclusion, both internally and externally. With this empowering rap anthem, we aspire to magnify women’s voices…
Central government employees and pensioners can expect a bump in their paychecks following the Union Cabinet’s approval of a 4 per cent hike in dearness allowance (DA), bringing it to 50 per cent of basic salary. This increase, effective from January 1, 2024, benefits over one crore employees and pensioners. The announcement, made in March, signifies a continuation of the biannual DA revisions based on the Consumer Price Index – Industrial Workers (CPI-IW). These revisions aim to compensate for inflation and maintain the purchasing power of salaries. In this case, the hike corresponds to a 4 per cent rise in…
Throughout history, achieving gender equality has been a challenge, often clouded in uncertainty. Striking a balance and ensuring fairness in a world where men and women work together has been a continuous quest. In India, a society with a long history of patriarchy, these challenges have persisted for generations, sparking ongoing debates about equality. However, since the 2000s, we have taken significant steps to make workplaces safer and fairer for everyone. One of the big changes is the PoSH Act, short for the Prevention of Sexual Harassment Act of Women at Workplace (Prevention, Prohibition, and Redressal) Act, 2013. This important law…
Yokohama India announced a significant achievement, surpassing the milestone of having more than 1000 women actively contributing on the shop floors of its factories in India. The Yokohama Group operates four factories in India, with one exclusively focused on passenger car tires and three dedicated to manufacturing off-highway tires. Contrary to common perceptions, the diverse workforce of over 1000 women in Yokohama’s factories hails from small towns across Chhattisgarh, Jharkhand, Kerala, Madhya Pradesh, Rajasthan, Odisha, Punjab and more. These women play integral roles across various functions, excelling as machine operators, team leaders, technicians, supervisors, and in quality control and logistics.…
Boeing has announced a significant shift in its employee bonus structure, placing a stronger emphasis on safety and quality in the wake of recent controversies. The company, still grappling with the fallout from the 737 MAX incidents, will now tie 60 per cent of annual bonuses in its commercial airplane unit to safety and quality metrics. This represents a major change from the previous system, where financial performance dominated bonus calculations, accounting for 75 per cent of the total award. The remaining 25 per cent was linked to operational objectives, including – but not limited to – safety and quality.…
MyGate has declared an Employee Stock Ownership Plan (ESOP) buyback. The offer has been extended to more than 50 employees. As per the company’s statement, the opportunity will be available to those team members who have dedicated over four years across various roles and business verticals. Furthermore, they will be eligible to encash 20 per cent of their vested shares. Speaking about the initiative, Abhishek Kumar, co-founder, MyGate, expressed, “We are in the strongest financial position with revenues growing quarter on quarter with much lower expenses. We achieved cash breakeven in Nov ’23 and are well capitalised to fund our…
Burlington Northern Santa Fe (BNSF) Railway, headquartered in Fort Worth, has initiated a workforce restructuring. The railways has offered employees the option to relocate to different positions, particularly within its Red River Division in North Texas, as confirmed by the company to the Star-Telegram on Wednesday, 6 March, 2024. The layoffs, affecting over 360 mechanical employees, occurred shortly after Warren Buffet expressed disappointment in BNSF’s profits to Berkshire Hathaway shareholders. A BNSF executive justified the layoffs as necessary for maintaining unparalleled customer service. Major rail unions are expressing concerns about the impact of these job cuts on railway safety and…
CARS24 has unveiled plans to boost the proportion of women in its workforce by 50 per cent by 2024. The company, recognising the gender gap in the automotive sector, is committed to enhancing diversity across various roles within its organisation. Cars24 is an Indian company that operates in the used car buying and selling industry. It provides a platform that allows individuals to sell their used cars directly to the company, streamlining the process and offering a hassle-free experience. At present, women and LGBTQ+ individuals constitute less than 20 per cent of CARS24’s workforce. Hence, to address this disparity and…