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The Indian government is planning to replace the Employment Exchanges (Compulsory Notification of Vacancies) Act, 1959, with a new Social Securities Act. This change aims to formalize a mechanism for private companies to notify job vacancies. The new act will introduce significant penalties for non-compliance, with fines increasing from a negligible amount to as high as ₹50,000. The goal is to ensure better dissemination of job information and improve transparency in the hiring process. This move is expected to benefit job seekers by providing them with more opportunities and timely information about available positions. . . . . . . . #JobVacancies #EmploymentAct #GovernmentPolicy #JobSeekers #Transparency

Narayana Murthy, the co-founder of Infosys, recently spoke out against the expectation of long working hours in the corporate world. He emphasized that no one should demand employees to work beyond their capacity and that such issues should be a matter of introspection. Murthy's comments come amidst ongoing debates about work-life balance and productivity in India. He believes that productivity should be measured by the quality of work rather than the number of hours put in. This perspective challenges the prevalent culture of extended work hours and encourages companies to focus on employee well-being and efficiency. . . . . . . . #WorkLifeBalance #EmployeeWellbeing #Productivity #CorporateCulture #NarayanaMurthy

A recent decline in hiring within India's top five IT companies, which collectively saw a drop of 2,600 employees in the last quarter of the year. This reduction is attributed to economic uncertainties and reduced client spending, leading companies to adopt a cautious approach. The trend reflects a broader slowdown in the tech sector, with firms prioritizing cost optimization and just-in-time hiring. Despite these challenges, there are signs of recovery, with expectations of increased hiring in the coming year as demand for skilled IT professionals grows. . . . . . . . #TechHiring #ITIndustry #EconomicUncertainty #WorkforceReduction #TechSectorRecovery

BharatPe CEO Nalin Negi recently addressed the ongoing debate about the feasibility and ethics of a 90-hour work week in India. He emphasized that work quality is more important than the number of hours worked. Negi stated that a 90-hour work week is unrealistic and difficult to achieve, and that a happy and engaged employee is more productive. He highlighted BharatPe's commitment to creating a comfortable and enabling work environment that fosters career growth and work-life balance. Negi's comments come in response to remarks by L&T Chairman SN Subrahmanyan, who expressed regret over not being able to make staff work on Sundays, sparking a debate on work-life balance. Negi believes that young organizations like BharatPe can build a flexible and employee-friendly culture. . . . . . . #WorkLifeBalance #EmployeeWellbeing #Productivity #WorkCulture #BharatPe

ShareChat, the Google-backed social media platform, is laying off around 5% of its workforce, which translates to about 30-40 employees. This decision is part of the company's ongoing cost-cutting measures. ShareChat aims to reduce its total employee count to 500 by March 2025, down from 650-700 employees as of November 2024. The company has been gradually reducing its workforce over the past two years, having laid off over 850 employees in multiple rounds. Despite these layoffs, ShareChat has reported significant improvements in its financial health, achieving full profitability with an EBITDA margin of over 15% as of October 2024. The company's livestreaming business has also seen substantial growth. . . . . . . . . #ShareChat #Layoffs #CostCutting #Profitability #SocialMedia

Microsoft has decided to halt hiring in its U.S. consulting division as part of a cost-cutting measure. This decision comes as the company plans to invest heavily in artificial intelligence (AI) and cloud-based applications, with an estimated $80 billion budget for fiscal 2025. The consulting division will stop hiring new employees and filling vacant positions to manage expenses. Additionally, employees are instructed to avoid travel for internal meetings and opt for remote sessions instead. The company aims to align these changes with its broader cost management strategy, which includes cutting marketing expenses and non-billable external resources by 35%. This move is expected to help Microsoft balance its investments while keeping overall costs in check. . . . . . . . . #Microsoft #HiringFreeze #CostCutting #AIInvestment #CloudComputing

A recent survey by HR consulting firm Mercer reveals that Indian employees can expect an average salary increase of 9.4% in 2025. This marks a steady rise from 8% in 2020, reflecting strong economic growth and a high demand for skilled talent. The automotive sector is set to lead with a 10% increase, driven by the surge in electric vehicles and the government's 'Make in India' initiative. Manufacturing and engineering follow closely with a projected rise from 8% to 9.7%2. The survey, which included over 1,550 companies across various industries, also indicates that 37% of organizations plan to expand their workforce this year. Additionally, voluntary attrition is expected to stabilize at 11.9%, with the agriculture and chemical sectors experiencing the highest rates. Companies are focusing on strategic recruitment, competitive compensation, upskilling, and employee engagement to attract and retain talent. . . . . . . . . #SalaryIncrease #IndiaInc #EconomicGrowth #TalentDemand #WorkforceExpansion

Meta Platforms Inc., led by CEO Mark Zuckerberg, has announced plans to cut about 5% of its workforce, targeting the lowest-performing employees. This decision is part of Meta's ongoing "Year of Efficiency" initiative, aiming to improve overall performance and streamline operations. The company plans to backfill these roles later this year. Zuckerberg emphasized that affected employees will receive generous severance packages. Meta aims to achieve 10% "non-regrettable" attrition by the end of the current performance cycle, with 5% already achieved in 2024. The move is expected to impact roughly 3,600 jobs, given Meta's workforce of about 72,000 employees as of last September4. . . . . . . . #Meta #Layoffs #PerformanceManagement #Efficiency #WorkforceReduction

The article announces the release of the latest list of the world's happiest workplaces. This list is compiled based on employee feedback and various factors such as work-life balance, company culture, and overall job satisfaction. The top companies on the list have been recognized for their efforts in creating a positive and supportive work environment for their employees. These organizations prioritize employee well-being, offer competitive benefits, and foster a culture of inclusivity and growth. The article highlights the importance of such workplaces in attracting and retaining top talent, as well as boosting overall productivity and employee morale. EXL Service India – Technology Aditya Birla Fashion Retail (ABFRL) – Retail Accenture India – Business and Management Services Hinduja Global – Technology HDFC Bank – Financial Services Bureau of Civil Aviation Security – Public Sector and Government Google India – Technology Creative Hustlers – Technology IndiGo – Travel and Leisure Byju’s – Education and Research Tata – Technology SBI (State Bank of India) – Financial Services IBM India – Technology Revolution Information Technologies – Technology Computer Age Management Services – Financial Services Springworks – Technology Teleperformance India – Business and Management Services . . . . . . . #HappiestWorkplaces #EmployeeWellbeing #CompanyCulture #JobSatisfaction #WorkplaceHappiness

In FY24, there's a noticeable disparity in pay hikes between top-level managers and regular employees in India. While managerial staff saw a significant 20% increase in their salaries, regular employees received a much smaller raise of just 1.74%. This discrepancy highlights the growing gap between the compensation of higher management and the rest of the workforce. The article suggests that this trend could lead to employee dissatisfaction and potential retention issues if not addressed. Companies are advised to review their compensation strategies to ensure fair and competitive pay across all levels. . . . . . . . #SalaryHikes #EmployeeSatisfaction #CompensationDisparity #HRNews #WorkforceRetention