The United Arab Emirates (UAE) has attained the highest degree of gender equality among Arab nations. With 15 Emirati women on the list, the nation boasts the largest representation of women on the Forbes 100 Most Influential Arab Businesswomen 2023 list. As per the latest Global Gender Gap report by the World Economic Forum, Emirati women are actively contributing to the UAE’s development under the guidance of the nation’s wise leadership. Almost two-thirds of the public-sector professionals in the UAE are women, with 30 per cent in leadership positions and 15 per cent in technical and academic roles. The report…
Author: HRK News Bureau
Goldman Sachs is making headlines for the wrong reasons, with a former employee accusing the financial institution of fostering a dysfunctional workplace. The said employee, 55-year old Ian Dodd from the London office has dragged Goldman Sachs into a one million pound lawsuit as he claims the workplace culture affected his mental health. According to the employee — who was the global head of recruiting— Goldman Sachs International, the meetings at work were witness to high levels of emotions and often tears. He has filed a case accusing the institution of being responsible for him being overworked and keeping late…
Sixty-four year old Uday Kotak, CEO and managing director, Kotak Mahindra Bank, has resigned. He was to attain superannuation in December 2023, but has decided to exit three months earlier due to personal reasons. It is pertinent to mention here that the Reserve Bank of India has set 15 years as the maximum limit for a managing director or CEO of any private-sector bank to hold office. His banking / financial services career spanned more than 40 years. He founded Kotak Mahindra Bank in 1985, after he realised he could no longer pursue a career in cricket following an injury.…
Melonie D Parker, chief diversity officer, Google, has been appointed to the board of Dallas-based diversity, equity, inclusion and belonging (DEIB) technology company, Kanarys Inc. The company works on a data-driven DEIB strategy to help organisations eliminate inequities so that the workplace becomes more inclusive and progressive. Kanarys offers tools that help ensure meaningful and long-term changes pertaining to DEIB. Given Parker’s experience in promoting and advocating DE&I in the corporate world, and her data-driven approach to DEIB, she will be able to ensure equitable outcomes for Kanarys as she has been doing globally. Leveraging her guidance, Kanarys hopes to…
“I am honored and humbled to have been appointed to join the executive board of SAP as the chief people officer and labour director, effective 1 Februrary, 2024,” posts Gina Vargiu-Breuer on social media. Vargiu-Breuer has worked with Siemens for over 17 years before joining Siemens Energy, where she spent the last four years. A master’s degree holder in economic psychology from Catholic University of Eichstatt-Ingolstadt, Vargiu-Breuer joined Siemens in 2022, as learning and development manager, local HR business partner. She helped set up and design a complete personnel development landscape from scratch for Siemens Thailand, which had a 1500-strong…
In July, it was announced that the negotiations between bank employees’ unions and banks on wage revision would begin on 28 July. At the time, the All India Banks Employees’ Association (AIBEA) had revealed that the United Forum of Bank Unions (UBFU) and the Indian Banks’ Association (IBA) have been discussing the Group Medical Insurance Policy for retired bank employees. Wages for more than eight lakh bank employees are negotiated by the IBA and trade unions every five years. The government had told IBA that it expected the negotiation process for the 12th bi-partite settlement to take place and the…
After serving as chief human resources officer, Luminous Power Technologies (Schneider Electric) for over three years, Niharika Mohan has been appointed VP- HR, Schneider Electric, based out of Dubai, UAE. A postgraduate in psychology from Delhi University, Mohan has worked with Tata Consultancy Services (TCS) as HR business partner for over four years, from 2000 to 2005. She served Hewitt Associates as compensation and benefits consultant for over three years, before joining Schneider Electric as director – rewards solution – HR, in 2008. Over a period of five years, she created and established the rewards division at Schneider Electric India.…
Freshworkes has roped in Johanna Jackman to take on the role of chief people officer. Backed by over two decades of rich experience, Jackman was director of HR at Nine, the Australian online content publisher from 1997 to 2001. She then joined Microsoft as senior HR manager in June of 2001. Within three years, she was elevated to people and organization consultant, based out of Washington. Till 2008, she successfully led a geographically-dispersed virtual team to deliver business results for a 7,000-strong highly matrixed, global pipeline with combined spend of over $5 billion. She spent the next two years as founder…
Is Dunzo delaying the payment of salaries to its staff yet again? If reports are to be believed, the employees will have to wait till October to get their June and July salaries. These salaries will be paid with 12 per cent interest. The quick commerce startup is in the midst of a financial crisis. The firm has been trying to gather funds of at least $75 million from its existing and new investors, while it may require up to $ 150 million. Its efforts are expected to bear fruit by September, which is probably why the employees have been…
The lawsuit alleging age discrimination during layoffs against Elon Musk’s company — now referred to as X — has faced a setback. Susan Illston, a US district judge in California declined the request to dismiss the case. The complainant, John Zeman, who represents a potential class action, managed to present sufficient evidence indicating that the layoffs disproportionately affected older employees, which allows the case to move forward. The lawsuit pertains to the social-media platform formerly known as Twitter, which Elon Musk acquired the previous year. Illston ruled on 29 August 2023 that the Zeman had provided substantial evidence to support…
Avaada Group, a renewable energy company with a 700-strong workforce, is all set to add about 3,000 more members to it team. The expansion will happen over a period of two years as it focuses on enhancing its activities in the solar module-manufacturing space as well as in the area of green hydrogen operations. With the government having announced schemes worth over Rs 17,000 crore to support electrolyser manufacturing and green hydrogen production, Avaada’s hiring plans are rightly timed. Recently, Avaada managed to obtain a funding of about $1.3 billion. The firm, which has an energy capacity of 4GW, is…
After finalising the merger of Credit Suisse into UBS, the latter recently revealed that it was going to completely absorb Credit Suisse’s 100 year -old Swiss division. This will involve axing about 3,000 jobs across the country. This is part of its redressal strategy for Credit Suisse, which was taken over by UBS in March 2023. It was announced in June 2023 that the first of three rounds of layoffs would see some employees of Credit Suisse in London, New York and parts of Asia losing their jobs in July 2023, and that the job cuts would be carried out…
Come October and the staff of HSBC UK will be working out of their offices three days a week. HSBC UK had earlier allowed its teams to come up with their own hybrid work arrangements. This meant, some of these teams were able to work from home all the time. However, the Bank claims that following a hybrid work pattern also meant evolving the policy and doing anything to ensure customer satisfaction. Therefore, now, the Bank has mandated that starting October, employees will have to be present in office or be present with customers for three days every week. It…
The retail SaaS platform owned by Shiprocket, Omuni has done away with at least 60 employees as part of a restructuring plan. According to Inc42, the Bengaluru-based firm has let go 35 per cent of its workforce, including members from the sales, tech, talent-acquisition and product teams. As a SaaS platform, Omuni facilitates brands in unifying stocks and managing their catalogues, orders, content, prices, logistics and data across their physical as well as digital stores. It is reported that the firm will soon let go Mukul Bhatia, CEO and co-founder Omuni, and Sumeet Chandok, CTO, along with some other senior…
As per a report by the Institute of Fiscal Studies, the National Health Service — the publicly funded health care system in England — has rolled out a 15-year workforce plan which aims to grow the workforce 3.1 per cent to 3.4 per cent annually. That means, from the present 1.5 million strong NHS workforce, the strength will go up to at least 2.3 million by 2036-37, if all goes according to the plan. If these figures are met, then almost half of the public-sector professionals in England will be working for the NHS, that means, nine per cent of all…
Hindustan Coca-Cola Beverages (HCCB) will be imparting financial and digital literacy training to 25,000 women across the country. To achieve this goal, the FMCG company has tied up with the Y4D foundation. The collaboration will help narrow the gap in financial and technological knowledge. The training will be imparted in a classroom-based format at various locations across India. Through this endeavour, HCCB aspires to support women, enabling them to take charge of their financial independence and embrace the opportunities the government and digital world offer. HCCB has facilitated several women-led self-help groups countrywide, empowering them to run their enterprises today.…
In the world of human interaction, communication acts as a conductor, harmoniously guiding interactions with words. However, even minor misunderstandings can lead to significant issues. Effective communication is especially crucial for leaders in the corporate world. Their words hold immense power, steering the course of their teams and organisations. But what makes communication truly impactful? Is it the style of leadership or the ability to listen? Let us look at the two common types of leadership: Quiet contemplation As a leadership style, quiet contemplation focuses on active listening, clarity and mindfulness. It involves taking a step back from the spotlight…
Farmers Insurance is set to undergo a significant reduction in its workforce, with around 2,400 employees facing layoffs, as announced recently by the US-based company. This decision will affect approximately 11 per cent of the total workforce, according to the official press release. According to Farmers Insurance, the company’s strategic aim is to enhance its long-term profitability and facilitate future growth. To achieve this, the organisation is not only streamlining its organisational structure for greater efficiency but also adopting a fresh approach to the delivery of insurance products to both agents and consumers. Raul Vargas, CEO, Farmers Group, tied these…
LTIMindtree, a subsidiary of Larsen & Toubro has given hardly any increment to its employees, and that too after months of delay. While some have got no hike at all, others have got one to two per cent hike, as reported by Money Control. It is pertinent to mention here that Larsen and Toubro Infotech (LTI) and Mindtree had merged last year. The wage increment cycle, which should have begun in April was postponed to August. Additionally, LTIMindtree has altered its internal pay structures. As a result, the variable pay was changed to fixed pay in the yearly packages of…
Hexaware Technologies, a global IT services leader, has introduced an exciting variable payout plan for employees, offering 100 per cent to employees, with the top performers receiving an impressive 120 per cent over two years. This reflects the company’s strong commitment to employee well-being, even during uncertain times. Recognising how happy employees boost productivity and creativity, Hexaware’s modern compensation approach aligns with its growth-focused decisions. A recent 2023 Brand Finance Report raised Hexaware’s rating to AA, acknowledging a remarkable 66 per cent brand growth in three years. Unlike companies cutting back on hiring, Hexaware plans to hire 6,000 professionals this…
Standard Chartered has unveiled has enhanced its paternity and adoption leave benefits, with effect from 1 September, 2023. This initiative reflects the bank’s commitment to promoting equitable parenting responsibilities among its employees, irrespective of gender, relationship status, or the circumstances under which a child becomes a permanent part of an employee’s family. Under these progressive enhancements, employees will have the opportunity to avail up to 20 weeks of paid paternity and adoption leave. This groundbreaking policy underscores the Bank’s dedication to cultivating an inclusive work environment that empowers employees to effectively balance their personal lives with their professional aspirations. In accordance…
Delhi government has directed shop owners, businesses and other commercial establishments to provide paid leaves to their employees in during the G20 Summit, that is, on September 8, 9 and 10. The government had earlier announced a public holiday in the capital city from 8 September to 10 September for the G20 Leaders’ Summit. The event is set to occur at the recently built convention centre situated in Pragati Maidan, within the New Delhi area. Following this, all proprietors operating shops, commercial ventures and enterprises within the boundaries of New Delhi and the National Capital Territory (NCT) are obligated to…
Doctors from Telangana hospitals have reached out to the government, urging that steps be taken to address their longstanding requests for increased salaries and the release of overdue payments. A gathering convened at Osmania Medical College by the Telangana Government Doctor Association (TGDA) saw medical professionals expressing their dissatisfaction with the government’s lack of response to their appeals. Nearly 600 doctors affiliated with state-run colleges conveyed their worries regarding pending salaries and outstanding payments. They highlighted that these payments have been pending since the 2016 pay revision commission. They were hopeful that the government would promptly disburse the long overdue…
Given a decline in sales, Zebra Technologies plans to lay off 7 per cent of its workforce. The decision will impact 700 employees globally. The layoff will be carried out through the company’s buyout scheme or ‘voluntary retirement plan. The move will help this manufacturer of bar-code readers and printers utilise its resources for operational tasks and realign its priorities to build overall business resilience for the future. It is reported that the business is currently confronting uncertainties and a complex business atmosphere. Therefore, these measures had to be resorted to. The firm also clarifies that the layoffs are solely…
Through an exchange filing, Indigo Paints, an India-based paint manufacturing company, has issued 19,740 equity shares to its employees. The allotment is a part of company’s Employee Stock Option Scheme 2019. The decision was passed by its Nomination and Remuneration Committee. The equity shares (as per the employee stock scheme) will hold the value as the company’s current equity shares. Each share will hold a nominal value of Rs 10. Companies increasingly allocate ESOPs to foster a sense of ownership, aligning employees with the company’s growth and success. This helps improve company’s talent retention, providing a long-term incentive for skilled…
up! SURGE 2023 was organised by XLRI’s Centre for Gender Equality and Inclusive Leadership (CGEIL) powered by XLRI for Women (XL4W), an international alumni Chapter of XLRI Jamshedpur and Delhi. This is the 4th edition of the flagship 3-week learning programme that focuses on providing senior women leaders perspectives and inspiration in their career journeys to the C-Suite. It also helps increase their impact in the workforce in India. The final leg of the up! SURGE programme was held in Bengaluru on 17 to 18 August, 2023. The programme was kick started with a talk by Fr. K S Casimir, director, XLRI-Delhi NCR.…