HR News: 27 Nov, 2017

1.

Alibaba founder Jack Ma gives business and hiring tips to young entrepreneurs

The firm that utilizes the internet in the best possible way will win in the future years, he said.
Alibaba founder Jack Ma was in an event called Gateway 17 in Detroit, where he talked to young entrepreneurs about Alibaba’s beginning, his hiring mantras, gender equality and struggles of an entrepreneur.
‘Hire, if he can be your boss in five years’ is what seems to be his hiring mantra. Sharing a tip he normally shares with his colleagues, he advised businessmen to hire staff who are smarter than they are.
Talking about gender equality, he said women are going to very powerful in the 21st century. He advised businesses to hire as many women as possible, adding that women are Alibaba’s ‘secret sauce’. Women care about other people much more than men, he said, and over the years, Alibaba has hired more women to maintain gender balance in the workforce. 

2.

Salary hikes and promotions deferred at Cognizant

The scenario is another indicator that the IT industry going through a tough phase.
The slow growth in the IT industry and the disruption in technology has recently led many IT companies like Wipro, TCS and Infosys to cut jobs and hire local employees. Now, deferment of salary hikes and promotions is another issue plaguing the employees.
Cognizant has revealed that its salary revision and promotions will be effective only from October 1. According to the company, the new salaries of the employees up to the level of vice president will be effective from October.
Earlier, the company used to have this performance appraisal exercise over by the end of July. The delay clearly indicates that the IT industry is going through a tough phase due to slow growth and disruption in technology. The deferment has triggered a fear of job cut among the 2,61,200 employees of the company across the world.

3.

41 of 197 allowances abolished for Central government employees

The CoA had undertaken extensive stakeholder consultations such as Joint Consultative Machinery (Staff side) and representatives from various staff associations before finalising its recommendations.

The 7th Central Pay Commission (CPC) had recommended 53 of 197 allowances for central government employees to be abolished and 37 allowances be subsumed in an existing or a newly proposed allowance.
The Government had set up a Committee on Allowances (CoA), which recommended retaining 12 of 53 allowances and the cabinet has approved the same.
Besides, 3 of the 37 allowances recommended to be subsumed by the 7th CPC will also continue as separate identities due to the unique nature of these allowances. The rates of these allowances have also been enhanced as per the formula adopted by the 7th CPC. This will benefit over one lakh employees belonging to specific categories in Railways, Posts, Defence and Scientific Departments such as Space and Atomic Energy.
The CoA had undertaken extensive stakeholder consultations such as Joint Consultative Machinery (Staff side) and representatives from various staff associations before finalising its recommendations.