HR News: 7th February, 2022

 1.  Why Axis Bank is keen to hire housewifes in HR.

Axis bank is announced a special hiring drive for housewise. The initiative called "house work is work" aims to rope in talent for their human resources function. In its pilot stage the bank is looking to hire 15 womens through this drive. The minimum qualification to apply for position is graduate degree. Prior work experience is no bar.

Rajkamal Vempati, president and head- human resources, Axis Bank, tells HR Katha that the thought behind designing "HouseWorkisWork" was triggered when they received a unique resume from a housewife.

Of all ages are encouraged to apply for the jobs. Even those who identified as man but were born female, or woman who sex assigned as birth is 'male' can also apply.

"Time is ripe for us to rid ourselves of meaningless stereotypes and look at this talentpool through the lens of talent and ambition, rather than focusing on their life-stage events. With this initiative, we are origin women to bring to us the wealth of talent they possess so that we can grow together" _ President Axis Bank.

Candidates who apply would be judged on the communication skills and ability to handle pressure and meet deadlines. As a prerequisite of the job, the company requires the applicants to possess a mobile device with a required Android /iOS version. The roles and function in which the selected candidates are to operate will be decided on the basis of the personal qualifications and abilities.

2.  Cognizant to hire 50,000 freshers from India in 2022.

US-based IT services company Cognizant plans to onboard 50,000 freshers from India in the calendar year 2022 (CY22), as per media reports. The hiring numbers are one of the highest ever from the company.  The company reported an attrition of 31% of the Q4FY21 (it follows the January-December financial calendar). Though the attrition numbers are higher compared to peers TCS, Infosys and Wipro, they have come down for the company on a sequential basis. Cognizant had reported attrition of 33 per cent in Q3FY21.

“While the rest of the industry at least saw an uptick on attrition for this quarter we have managed to get a little respite on a quarter-on-quarter. Is this sustainable? We are doing everything within the organization to make sure that it sustains, but attrition is always dependent on market dynamics,” Business Standard quoted Rajesh Nambiar, chairman, Cognizant India and president digital business and technology as saying.

“Our commitment to hire such big numbers has been the highest in the history of Cognizant and we are doubling down,” added Nambiar.

"I'm proud of Cognizant's broad-based progress over the past year. We successfully executed our strategy by meaningfully enhancing our digital portfolio, strengthening our international presence, and helping our clients be successful," said Brian Humphries, chief executive officer.

"We enter 2022 with momentum and confidence that our talented employees position us to capture the substantial market opportunity," he added.

3.  Bain & Company hires Areté Advisors to strengthen its India practice.

Continuing its rapid growth in India, global consulting firm Bain & Company today announced that it is hiring the entire team at Areté Advisors, a boutique consulting firm. 

These hires are part of the firm’s strategy to strengthen its operations in India and further enhance its specialized offerings to augment client results delivery.

Team Areté brings in strong expertise in healthcare, social impact and private equity, which will complement Bain & Company’s integrated suite of offerings.

Additionally, a team of 30 professionals from Areté have joined across various consulting groups and specialised practices at Bain & Company, and share similar academic and professional backgrounds and experience including excellent outcomes in consulting assignments.

“We remain bullish about market growth and expect to benefit from structural shifts of premiumization and flight to quality. The future of consulting will bring together the best of strategy consulting and specialist sector knowledge.”, said Karan Singh, India managing partner at Bain & Company.

“Areté is a great strategic fit as we prepare for the future and will support our plans to scale our business. We have in the past worked with the Areté team on a few projects and are confident of a successful integration given the cultural fit and shared focus on delivering significant client impact. We are thrilled to welcome Monika and the team to Bain & Company,” Singh added.

 “We are very excited to be a part of Bain & Company with its deep expertise and unparalleled client commitment. The company provides us a great platform for growth and client value creation, and we look forward to accomplishing great things together,” said Sood.