HR Learning: 15 Dec, 2023

 1.

Navigating the shift: The surge of skills-based hiring in India

The move away from traditional hiring, which heavily favoured academic qualifications and experience, has evolved towards prioritising specific skills in today's fiercely competitive professional landscape. In the ever-evolving landscape of the Indian job market, a remarkable shift is underway, the ascent of skills-based hiring. Traditional hiring processes, centred around academic qualifications and experience, are making way for a more dynamic approach that places a premium on specific skills. This paradigm shift reflects a broader acknowledgement that skills, rather than degrees alone, are the true currency in today's competitive professional arena. The dynamics of skills-based hiring: The rise of skills-based hiring can be attributed to several factors, each contributing to a more holistic and efficient employment ecosystem. One of the key drivers is the fast-paced evolution of technology, which has rendered certain skill sets obsolete while creating an insatiable demand for new ones. As industries digitise and automate, employers seek candidates who possess the technical prowess required to navigate this brave new world. In India, a country known for its burgeoning IT sector, the emphasis on skills is particularly pronounced. Employers are increasingly prioritising candidates with hands-on experience in emerging technologies like artificial intelligence, data science, and blockchain. This shift underscores the need for a workforce that can adapt swiftly to technological advancements and contribute meaningfully to the innovation-driven economy. A realignment with educational initiatives: The surge in skills-based hiring has prompted a realignment in educational initiatives across the country. Recognizing the need for a workforce equipped with relevant skills, educational institutions are revamping their curricula to bridge the gap between academia and industry requirements. Vocational training programs and industry partnerships are becoming integral components of the educational landscape, ensuring that graduates are not only armed with degrees but possess the practical skills demanded by employers. This shift also signals a departure from the conventional belief that a prestigious degree is a one-size-fits-all ticket to success. Companies are increasingly recognising the value of diverse learning paths, including online courses, certifications, and bootcamps, which provide targeted skill development and are often more attuned to the rapidly changing demands of the job market. Inclusive hiring practices: Skills-based hiring is not only about technical prowess but also about fostering inclusivity in the workplace. By focusing on skills, employers can tap into a broader talent pool, breaking down barriers related to age, gender, or educational background. The impact on employee retention: Another noteworthy aspect of skills-based hiring is its positive impact on employee retention. Navigating the future: As India navigates this transformative phase in hiring practices, both employers and job seekers need to embrace the opportunities presented by skills-based hiring. In conclusion, the growing trend of skills-based hiring in India marks a pivotal moment in the country's employment landscape. 

 

2.

AI upskilling to job-hopping: Trends that will lead 2024 workplaces

CoachHub's recent research indicates that more than 56% of companies have incorporated AI into their HR operations. The pace of change, driven by the widespread adoption of AI and the rapid evolution of organisational dynamics, is unprecedented. Recent research conducted by CoachHub reveals that over 56% of organisations have integrated AI into their HR functions.  As AI's role continues to evolve, and skill requirements undergo transformation, leaders must proactively prepare their workforce with the necessary skills and resources for the forthcoming trends. Experts from CoachHub, a renowned global digital coaching platform, have outlined their forecasts for work and careers in 2024, shedding light on how organisations can navigate this landscape successfully.

 

3.

Training and development for FMCG employees

The swift evolution of the FMCG industry necessitates a sharp focus on training and development initiatives to bolster employee efficiency. The world of business is rapidly evolving with intense competition particularly those in the FMCG industry. Today, the FMCG industry is the fourth largest sector in the Indian Economy out of which, healthcare products constitute (31-32) % of the overall sales, and the remaining (18-19) % is for food and beverage products. Recognising the significance of employee efficiency and productivity, companies are now actively looking for different methods to enhance their workforce through rigorous training and development practices. Giving proper training to the team has become more important than now. It empowers employees with the necessary skills, knowledge, and capabilities to navigate the ever-changing landscape.

HR Movement: 15 Dec, 2023

1.

Vikram Kaul is now HR director & CPO, Leadec

He moves from Compass Group India where he was people leader India. Vikram Kaul has started a new position as human resources director and chief people officer (CPO), Leadec. He has excitedly posted on social media that this new role will see him leading the HR function, overseeing recruitment, retention and development of employees; managing compensation and benefits; and ensuring compliance with labour laws. He will also be responsible for the function that looks after general administration and office facilities across the country, for this global service specialist for factories. Additionally, he will be the executive director for Leadec’s management board in India. An alumnus of IIM-Lucknow, Kaul was manager – HR and admin with F-TEC Skill Development, in the early years of his career. Just over a year and a half later, in 2003, he joined Ochoa Laboratories as HR business partner. Based out of Delhi for over a year and a half, Kaul successfully looked after the recruitment process including shortlisting, searching, screening, conducting and scheduling interviews and coordinating with various job consultants and job portals. In 2004, he was appointed HR manager, Bharti Airtel. Almost five years into this role, he was elevated to senior HR business partner (Airtel shared services), looking after talent management, employee transformation, training and development, HR automation, process implementation and HR analytics and talent acquisition.

 

2.

upGrad Abroad gets Ipshita Kajla as head-HR

upGrad Abroad, a vertical of Indian edtech platform, upGrad, has recently onboarded Ipshita Kajla as its new head-human resources. Kajla is a seasoned human resources expert with over 17 years of experience in the field. Her expertise lies in translating business vision into HR initiatives that enhance performance, profitability, growth and employee engagement.
Prior to joining upGrad, Kajla served as the head-human resources at Yatra Online for over three years, starting in the year 2020. Before that, she was the regional head-HR at Big FM, in 2017. Her primary role there was to analyse attrition, productivity and other matrices with a view to enabling optimum utilisation of human resources. Her professional journey includes roles at various organisations such as People Bridges, MicroSave, Mondelez International, IndiGo and SmartAnalyst India.

 

3.

Tech Mahindra to rope in Richard Lobo as CHRO

Lobo is currently engaged as a freelance strategic HR advisor at the edtech unicorn, BYJU’s. Richard Lobo, the former executive vice president and head-human resources, Infosys, may start his new stint with Tech Mahindra as chief human resources officer (CHRO), starting from January 2024. The company, reportedly, is in talks with the industry veteran. Lobo is currently engaged as a freelance strategic HR advisor to the edtech unicorn, BYJU’s. His focus areas encompass change management, corporate governance, organisation scaling and enhancing employee experience. He is anticipated to start off in his new position under the leadership of Mohit Joshi, Tech Mahindra’s recently- appointed CEO. Lobo previously worked alongside Joshi at Infosys, where the latter held the position of president, overseeing various functions such as financial services, insurance, healthcare, life sciences and sales operations.

HR News: 15 Dec, 2023

1.

Public-sector banks set for 17% salary boost in FY 22-23

Unions are also insisting on declaring all Saturdays as public holidays for banks before signing the final agreement, which includes the decision for a 5-day work week. The Indian Banks Association (IBA) and bank unions have agreed on a 17 per cent annual salary increase for five years, starting from the fiscal year 2021-22. The wage revision, effective from 1 November 2022, is part of a memorandum of understanding between the IBA and various unions. However, the unions are insisting on declaring all Saturdays as public holidays for bank employees before signing the final agreement, which includes the decision for a five-day work week. Next year, employees in public-sector banks, including the State Bank of India (SBI), are in for a 17 per cent salary increase, totaling a significant Rs 12,449 crore. This agreement is part of a Memorandum of Understanding (MoU), where they plan to adjust pay scales by combining the dearness allowance and adding a three per cent increase, amounting to Rs 1,795 crore. The distribution of this pay raise will be worked out based on the cost of running the banks in the upcoming year. To finalise these plans and address agreed-upon matters, there will be meetings between bank representatives and employee unions. These discussions aim to create a detailed agreement, known as a bipartite settlement, outlining the terms both parties have settled on.

 

2.

UTI AMC allots shares to employees

All the allotted equity shares will have equal standing in all aspects with the existing equity shares. UTI Asset Management Company (UTI AMC) has allotted 17,158 equity shares to employees. The decision comes from its Nomination and Remuneration Committee. Each equity share holds a face value of Rs 10. Furthermore, the newly allotted equity shares will have equal standing in all aspects with the existing equity shares. This allocation is a result of eligible employees exercising options under the ‘UTI AMC Employee Stock Option Scheme – 2007,’ as stated in the company’s exchange filingFollowing the allocation, the company’s issued and paid-up share capital will go up from Rs 1,27,02,27,680 (comprising 12,70,22,768 equity shares with a face value of Rs 10 each) to Rs 1,27,03,99,260 (comprising 12,70,39,926 equity shares with a face value of Rs 10 each).

3.

Bosch to cut 1500 roles in Germany

The company will reassess several roles in the areas of development, administration, and sales within its drives division at the Feuerbach and Schwieberdingen sites. Bosch, the automotive supplier, has recently announced plans to reduce its workforce by up to 1,500 positions. The job cuts are to take place in two of its German facilities by 2025. The cuts in the workforce were initially disclosed by the automotive industry publication, Automobilwoche. The company will reassess several roles in the areas of development, administration, and sales within its drives division at the Feuerbach and Schwieberdingen sites. The decision is driven by the necessity to align staffing levels with evolving demand and technological changes in the automotive sector, as stated by the company on 10 December, 2023. This involves aligning its employment levels with the current order situation, structural shifts in the drive sector, and the market integration of upcoming technologies.

HR Club HR Matrix Inter-collegiate ‘Experiential Learning Workshop’

 

RULES AND PROCEDURES FOR “E-L-W”–The HR Experiential Learning Workshop ‘E-L-W’

1.     IESMCRC HR Club, HR Matrix is organising ‘E-L-W’– HR Experiential Learning Workshop ‘E-L-W’.

2.     SCHEDULE:

12^th February at 12:30 to 1 PM; Venue: Seminar Hall, 6^th Floor / Hybrid mode. 

Confirmed venue & schedule as above. 

3.     The EL cards will be given on that day and date. Registration is on or before 12^th Feb, 2024 by registering at our HR Club App under HomepageàContact Us NowàParticipateàHR Matrix Events Entry Form OR directly Click on URLàhttps://www.jotform.com/app/232150844072449/232151068100036?utm_source=jotform_pwa

4.     The submission is to be provided on that day in that time, by the participant.

5.     All students need active email ids, that will be eligible for participation.

6.     The starting date is on point no. 2. So be present and await your self-assessment on 12^th February 2024.

7.     The self-assessments will be announced by email individually to participants on 12^th February 2024.

8.     In the self-assessments,

a.      1^st & 2^nd Yr. students will be guided as to which competencies under their choice of specialization either of HR/ Marketing/ Finance/ Operations/ IT is better suited for them.

9.     All are encouraged to participate in this workshop using the S-T-A-R Technique et to sharpen your career competency choices.

10.  Certificate of participation would be provided to each participant.

11.  The photo gallery of the event will feature in our blog <https://iesmcrc-hrclub.blogspot.com/>, HR App and social media sites.

12.  Assessments would be shared on 12^th February 2024. For any queries contact: hrclub@ies.edu

Contact Us At:  

1) Facebook

https://www.facebook.com/profile.php?id=100074913052746

2) LinkedIn

https://www.linkedin.com/in/hr-club-077472124

3) Twitter

https://twitter.com/hrclub2?t=gQkBdD0KO9c3fYWvBFgBTQ&s=08

4) Instagram

https://www.instagram.com/hrclub_ies_edu

5) Blogger

https://iesmcrc-hrclub.blogspot.com/

6) WhatsApp

https://chat.whatsapp.com/6oeq7AeaKAi3PYiZpCqZIV7

7) HR Club App

https://www.jotform.com/app/232150844072449

Email ID: hrclub@ies.edu

Faculty In-charge: Prof. Dr. Mrs. Merlyn Michael D’souza, Faculty Contact No.: +91-22-50001758/ +91-9892863320

Student In-charge: Ms. Tejal Agare, Student Contact No.: +91-8425069891

Student-in-charge Name	HR Club Activity Event	Mobile No.	Email Address
Gauri Jakhi	Learning & Development Poster design/ Compensation Case design/ Excel  HR dashboard Tracker	9167679716	gauri.jakhi23@ies.edu
Prachi Trivedi		8879394025	prachi.trivedi23@ies.edu
Dhruvi Pandya		9326351166	dhruvi.pandya23@ies.edu

HR Learning: 08 Dec, 2023

 1.

ICICI PLI's EVP of HR on nurturing future-ready talent for emerging needs of BFSI Sector

"The Human Resources function enables this culture by building processes that reinforce innovation, build internal capabilities and promote collaboration," says Manmay Madiman, EVP of Human Resources at ICICI Prudential Life Insurance Company. India's BFSI sector is fast-growing, leading to a high demand for top-tier, highly skilled talent. However, with the limited and inflexible availability of skilled and tech-savvy professionals in the market, the responsibility falls on HR leaders to build talent for the sector's emerging needs. The key trends include a focus on building emerging skills for future competitive advantage, increasing valence for inclusion and sustainability, increasing flexibility in workforce policies to cater to a multi-generational workforce, and shifting from focusing on just physical employee well-being to holistic well-being. With technology and data sciences driving innovation, aggregated data platforms that enable the creation of seamless customer experience, and evolution in core skills of actuarial, underwriting and investments, building capacity and capability in these skills has been an important part of our people strategy. Our systems of talent acquisition, skill development, rewards and succession planning ensure that our teams are proficient in emerging skills and use these to anticipate and reimagine products and processes, ultimately driving better products, onboarding processes, and service for our customers and more comprehensive partner integration. To stay agile and continuously improve in delivering our proposition to customers, a diversity of perspectives and inclusion of all people is an important foundation. Accordingly, the right mix of talent is onboarded, with employees from various backgrounds, educational qualifications, genders and generations working together to ensure financial security for our customers. Our gender ratios are best-in-class in the insurance industry at 30%, consistently increasing over the last 3 years.

 

2.

Investing in skill measurement methods is a must to create a skill-based organisation

Talent leaders must break traditional role boundaries to thrive in a dynamic and multifaceted future. They delved into strategies for rapidly acquiring diverse skills and adapting to the ever-evolving technological landscape. In a panel discussion titled "Diversifying Skill Portfolios: Thrive In A Dynamic & Multifaceted Future," during People Matters’ Learning and Development Conference held in Mumbai recently, industry experts shared insights on the importance of diversified skill portfolios and innovative learning approaches. The panel included Ajit Ravindran Nair, Associate VP at Infosys Ltd, Navnidh Kochar Karaka, VP - HR & Head - HR, Global Corporate Security at Reliance Industries, and Potoula Chresomales, SVP, Product Management & Innovation at Skillsoft. The discussion was moderated by Dipsa Acharya, Head of Global L&D at Adenza, who delved into strategies for accelerating the acquisition of diverse skills and breaking traditional role boundaries. In a world characterised by constant disruption and volatility, the need for diversified skill portfolios is becoming increasingly apparent. Industry experts including Ajit Ravindran Nair, Associate VP at Infosys Ltd, Navnidh Kochar Karaka, VP - HR & Head - HR, Global Corporate Security at Reliance Industries, and Potoula Chresomales, SVP, Product Management & Innovation at Skillsoft provided valuable insights on diversifying skill portfolios.

 

3.

41% of employees to exit jobs by 2024 due to lack of training by current employer

Among the desired training subjects, leadership and management, mental health, and the utilisation of AI tools surfaced as the foremost non-mandatory topics employees are keenly interested in. Amid the pursuit of talent retention strategies, many leaders often ponder the fundamental needs of their workforce. While monetary compensation stands as a common consideration, it's not the sole pivotal factor. Equally essential is the provision of pertinent on-the-job training. New research by TalentLMS and Vyond reveals that 66% of U.S. employees feel the necessity to gain new skills for success in their roles. The report also highlighted a concerning trend: if employers fail to meet the demand for training and learning opportunities, about 41% of employees intend to depart from their current jobs in the coming year. The study also revealed significant insights into the current landscape of employee training and its impact on skill development and career progression. Presently, 68% of individuals are actively pursuing additional training independently to enhance their skill sets, with 58% leveraging social media platforms for skill cultivation.  This emphasis on skills stems from the realisation that skill longevity is decreasing, as indicated by 57% of respondents acknowledging shorter skill shelf lives than before. In terms of sought-after training topics, leadership and management, mental health, and the utilisation of AI tools emerged as the top three non-mandatory subjects’ employees expressed interest in. The study further showcased that 72% of employees attributed career progression in 2023 to the training provided by their companies. However, certain obstacles hinder effective learning experiences, such as lengthy sessions, unengaging content delivery, and limited on-demand access to training materials. Key takeaways from the research highlighted the indispensable role of new skills in driving professional success, with 66% of employees recognising the necessity of skill development. 

HR Movement: 08 Dec, 2023

 1.

Neha Alhluwalia elevated to CHRO-India & South Asia, Hitachi Energy

It was only in October 2023 that she joined the company as head – HR, having moved from ABB where she spent 15 yearsAfter spending 15 successful years at ABB, Neha Ahluwalia had moved to Hitachi Energy India where she assumed the role of head – HR, in early October 2023. Now, within months of her arrival, she has been elevated to the role of chief human resource officer, India and South Asia Region. An alumna of ICFAI Business School, Hyderabad and IMD, Ahluwali. Ahluwalia began her professional journey as a project trainee at Sierra Atlantic, in 2004. A year later, she joined HCL Technologies, where she served as HR business partner till 2008. Since May 2008, she was associated with ABB, the multinational automation company, in various capacities. She started off as HR business partner for process automation, for a little over two years. In 2010, she was promoted to the role of HR communication and branding manager. A year later, she became country HR excellence manager, a role she essayed for over two years before being elevated again.

 

2.

NSDL Payments Bank gets IndusInd’s Vasundhra Paruelekar as head-HR

Before joining NSDL, Paruelekar served as the zonal HR partner at IndusInd Bank, overseeing the HR function lead for Branch Banking and liabilities. The NSDL Payments Bank, a branch of National Securities Depository (NSDL), has appointed Vasundhra Paruelekar as its new head-human resources, effective immediately. She will be based in NSDL’s Mumbai office, overseeing a wide range of HR functions. Backed by over 15 years of experience in HR, she has worked across various industries, such as BFSI, pharmaceuticals, energy, infra, metals, mining, technology, and retail. Prior to joining NSDL, Paruelekar was associated with Induslnd Bank as its zonal HR partner, serving as the HR function lead for branch banking and liabilities in Maharashtra & Goa, comprising 250 branches. In this capacity, she was responsible for driving growth and expansion, handling talent acquisition and management, addressing grievances, overseeing HR operations, and ensuring HR compliance.

 

3.

TPI Composites appoints Rajaram K as director-HR

Rajaram has worked with several other companies including Ford, HCL Technologies, CADD Centre and FTSI. TPI Composites, a US-based wind turbine manufacturer, has roped in Rajaram K as its new director-human resources, with immediate effect. In his new role, he will be based at the Chennai office. Rajaram moves from The Ramco Cements, where he was serving as vice president-human resources. His journey with TPI Composites goes way back to 2019, when he joined the company as its director-HR and held the role for three years. With a career spanning more than 35 years in human resources, he has accumulated expertise in various sectors, including infrastructure, automobile, telecom, oil and gas, and IT services and consulting.

HR News: 08 Dec, 2023

1.

Mass resignations at X following Musk’s bonus

The social-media platform is facing internal issues with numerous employees, both senior and junior, resigning from their roles. X, formerly known as Twitter, is facing internal issues with numerous employees, both senior and junior, resigning from their roles. Despite recent bonus distributions, the departure of numerous employees, particularly in the sales department has raised concerns about the platform’s future. A report from Business Insider highlights a turbulent period in Elon Musk’s leadership at X. Additionally, the billionaire is currently dealing with criticism from advertisers due to his outspoken posts, along with recent comments on an antisemitic conspiracy theory. Reportedly, X is presently functioning with a reduced staff at its office, and the advertising division is undergoing financial setbacks. The initial significant layoffs took place post the acquisition of Twitter last year, followed by widespread resignations in 2023This raises apprehensions about the company’s capacity to sustain revenue and pull new advertisers.

 

2.

1.23 lakh new employees added by Indian banks in FY23

In 2023, India's top 15 private banks hired 350 employees daily, with 11% attrition resulting in 70,000 replacement hires. In the fiscal year FY23, Indian banks witnessed their most substantial surge in hiring over the past decade, according to the data from the Reserve Bank of India the addition of 1,23,000 new employees. In 2023, the top 15 private banks in India hired an average of 350 employees every working day. These banks experienced an average attrition rate of 11 per cent over the past 12 months, leading to 70,000 replacement hires. Axis Bank is anticipated to increase its workforce by 7-8 per cent in the current financial year. Additionally, HDFC, ICICI and Bandhan Bank collectively added 40,000 employees in the first half of the fiscal year. Based on these trends, the banking sector is on track to surpass the previous year’s record and potentially achieve an all-time high in headcount growth.

3.

Coforge allots shares to employees.

Each share will have a face value of Rs 10.  Coforge, an IT company, has allotted 19,179 equity shares to its employees on 3 December, 2023. This decision from its ESOP Allotment Committee is a part of its Employee Stock Option Plan. Each share will have a face value of Rs 10, as stated in an exchange filing by the company. Furthermore, the company stated that it is currently in the process of fulfilling additional formalities related to the issuance and listing of the mentioned shares. The company has obtained share application money in connection with the mentioned allotment, totalling Rs. 1,91,790.

HR Learning: 01 Dec, 2023

 1.

Skilling for 2024: Tools and Strategies from HR leaders in an exclusive discussion

In Bengaluru, a city pulsating with innovation, a gathering of HR and L&D leaders unpacked secrets and strategies to elevate workplace productivity and mastering soft skills. This article delves into the insights from this pivotal roundtable, offering tangible solutions for today's dynamic work environment. The challenge in front of HR leaders and learning professionals is multifold. Creating future-forward, engaging, and impactful learning programs needs, experimenting with learning pedagogies to choose the one that works best for their workforce, and ensuring a focus on soft skills are pillars of a robust learning strategy. To find impactful strategies to raise productivity and help address the need to build the right soft skills, People Matters and Pearson conducted a roundtable discussion on Decoding the Language of Success: Strategies for a Productive Workforce. With top HR leaders and learning professionals elucidating strategies, challenges, and insights on building a productive future, we look at some lessons from the session.

 

2.

Key signs of learning addiction: Are you afflicted?

Delivering a keynote session at PMLnDIN, Greg Orme identified the key strategies of fostering a culture of continuous learning. Diving into the captivating realm of learning excellence, Greg Orme, Author, Facilitator, and Coach, explored the five symptoms of learning addiction in an insightful session titled 'The Heart of Change: The Human Edge in Transformation' at People Matters L&D India ConferenceKickstarting the keynote, Greg identified his passion for learning by quoting Cicero: "If you have a garden and a library, you have everything." How to identify you have an addiction to learning?

To identify learning addiction, Greg pointed out key factors saying, “As learning addicts, we may exhibit certain symptoms:

1.    If you have a towering stack of books waiting to be devoured

2.    If new knowledge starts appearing everywhere in your life,

3.    If you constantly connect new information with what you already know, 

4.    If you feel the urge to experiment with freshly acquired knowledge, 

5.    If you secretly relish long-haul flights as an opportunity to catch up on reading.”

Sharing his experience, Greg added, “Over the past decade, I've collaborated with diverse industries, each grappling with the impact of artificial intelligence, data deluge, fast computing, and digital transformation. The recurring narrative in these organizations is the need for a new strategy, organizational transformation, and a shift in leadership mindset and skills.” Referring to his book, Greg says “The main question revolves around the skills required in a world dominated by artificial intelligence. In essence, my conclusion remains pertinent: Don't compete with machines; differentiate with your human edge. This is more relevant than ever, as machines become increasingly proficient, encroaching into white-collar domains. The book identifies four superpowers - Creativity, Collaboration, Consciousness (equivalent to purpose), and curiosity.  

.

3.

Strategising skills transformation for impact: A Dipstick Study

85% of HR executives say they are planning or considering redesigning the way work is organised so that skills can be flexibly ported across work over the next three years. To excel in today's dynamic workplace, you must take proactive steps to prepare for the future. This involves embracing AI, fostering strategic alliances, and aligning skill development with your overall business strategy. In a rapidly evolving global landscape where AI-driven innovation is reshaping industries, it's evident that many organisations are not adequately prepared for the imminent skills revolution. Consider these statistics:

·      Only 3% of organisations believe they are extremely well-prepared for the forthcoming AI-driven skills revolution.

·      While 86% of organisations engage with strategic partners, only 22% do so extensively.

·      Among various learning modalities, 'On-the-job' training is the most widely embraced, according to 62% of organizations.

Our Dipstick Study provides valuable insights, including:

·       Data-driven assessments of the current state of learning and key challenges and opportunities facing businesses today.

·       A clear understanding of the pivotal role of strategic partnerships in driving skills transformation.

·       Identification of the most prominent gaps in learning modalities and strategies to bridge them.

·       An exploration of AI's role in accelerating learning and skills transformation

HR Movement: 01 Dec, 2023

1.

Rohit Vishal appointed CHRO, Varun Beverages

Varun Beverages, a subsidiary of RJ Corporation, has roped in Rohit Vishal Gupta as its new chief human resources officer (CHRO), effective immediately. With a wealth of experience spanning over two decades, Gupta’s expertise lies in managing core HR functions such as talent management, strategic human resource management (HRM), industrial relations, and employee engagement. Furthermore, he has worked across diverse functions such as sales and manufacturing, equipping businesses with the necessary resources to expand on a global scale. Prior to joining Varun Beverages, Gupta concluded his tenure as the chief human resources officer and global vice president of talent management and leadership development at Wipro. He held the position for over two years. He joined the company in the year 2021.

 

2.

Schaeffler AG ropes in Astrid Fontaine as CHRO

Fontaine has worked with many other organisations including Porsche, DaimlerChrysler and Mercedes-Benz in her 20- year long career. The supervisory board of Schaeffler AG, a German manufacturer of rolling element bearings, has appointed Astrid Fontaine as its new chief human resources officer. She will also be a member of the board of managing directors of Schaeffler AG, commencing from 1 January, 2024. Prior to joining Schaeffler Fontaine was associated with Volkswagen Group, where she spearheaded people and transformation functions on the board of Volkswagen Commercial Vehicles. She held the role for over two years starting September 2021.

 

3.

Piyali Bhattacharjee of Euronext Solutions is now head of people, Accorian

Bhattacharjee has been associated with Infosys and Goldman Sachs in her 16-year long career. After serving as human resource director at Euronext Solutions for over two years, Piyali Bhattacharjee has moved to Accorian as chief people officer (CPO). Having begun her professional journey as an HR executive at Verifaya Corporation in 2007, Bhattacharjee moved to CareerNet Consulting in 2009, as associate consultant. About ten months into this role, she switched to Infosys, joining as business partner HR (associate lead HR). A little less than three years later, in 2012, Bhattacharjee joined Goldman Sachs as HR (human capital management). For a little less than two years, she served as business partner and handled HR Operations for the APAC region.

HR News: 01 Dec, 2023

1.

L&T Technology axes 200 roles

L&T Technology Services (LTTS) has allegedly terminated 200 employees as part of its performance cycle. The primary aim of these layoffs is to mitigate role overlaps specifically in mid-to-senior positions. The company follows an annual performance-review process to evaluate the workforce’s capabilities and takes appropriate actions based on skill sets and performance. This practice is deemed crucial for maintaining high service standards, continuous upskilling, organisational agility, and staying at the forefront of technological innovation. The staff reductions primarily occurred in delivery and support functions, and are reportedly a consequence of automation of various operations. As reported by TOI, a spokesperson from the tech company emphasised that despite the current situation, the company’s ongoing hiring strategy is aligned with its growth prospects. The company plans hire over 2,500 engineers, particularly in plant engineering, digital and software engineering, AI, and software-defined vehicles.

 

2.

Delhi job market grows by 52,420, while Bangalore’s drops by 41,208

In Delhi, major companies such as Paytm, PhysicsWallah, PolicyBazaar, Delhivery and BharatPe have been actively hiring from September 2022 to July 2023. From September 2022 to July 2023, unicorn companies in Delhi increased their total workforce by 52,420. Meanwhile, according to reports, Bangalore companies reportedly decreased their workforce by 41,208. Delhi saw major employers such as Paytm, PhysicsWallah, PolicyBazaar, Delhivery, and BharatPe actively hiring in significant numbers. Chennai’s unicorn startups bolstered their workforce by 3,967, whereas Pune-based unicorns increased their employee count by 1,049 during the specified period. In contrast, Mumbai and Hyderabad experienced declines in their workforces, with reductions of 1,252 and 368, respectively, as per findings from PrivateCircle Research. In December 2022, the highest number of employees, 44,295, left unicorn companies within that period. Starting in April, hiring at unicorn startups picked up pace and reached its peak in July with 43,361 new additions. Notably, Policybazaar, BigBasket, and Rebel Foods experienced substantial growth in their workforce during July.

3.

Deloitte in India’s volunteers devote a day to making an impact
55,000+ volunteers invested time and effort to drive positive change in their local communities. More than 55,000 volunteers from Deloitte in India helped skill local communities and invest time and efforts to conserve the environment as part of the annual Impact Day. The day allows volunteers from Deloitte in India an opportunity to give back to society. The virtual, in-office and on-the-ground projects across more than 500 locations saw over four lakh individuals getting actively involved during the 21st annual Impact Day. The project themes this year included education and skills, empowerment, healthcare, animal welfare and sustainability. Volunteer project leaders, from across domains and ranks, pick causes they are committed to and collaborate with internal teams as well as non-profit organisations to plan day-long programmes. Volunteer team members register for projects that resonate with their interests and matter to them, and dedicate an entire working day to making an impact.