Innholdsfortegnelse for 30 April 2023 i Business Today

These are interesting times as far as the employer-employee equation is concerned. The Covid-19 pandemic—and the consequent changes it has brought about at the workplace—has led to new models being adopted, such as remote and hybrid working. Equally, a new-generation workforce across sectors has become more demanding and aspirational, and expects much more from its employers. This often leads to shorter tenures and higher attrition, where employees quit jobs because they either want a higher salary, better growth prospects or a greater opportunity to learn more on the job. On the other hand, employers are getting used to newer forms of employment like gig working, contractual staff or consultants. All this requires an overhaul of how companies view their workforce, and people managers across sectors are bracing for an entirely…

Global recessionary fears are rocking export-oriented sectors such as IT/ITeS. But, India’s bright prospects are making domestic-dependent sectors bullish Despite worrying signs visible in global markets, hiring activity in December was up more than 4 per cent compared to a year ago. The Naukri JobSpeak Index rose to 2,890 in December 2022, from 2,770 a year ago A sector-wise analysis by Naukri comparing December 2022 numbers with the average of the first half (January-June) reveals a mixed trend The mix shifted in the second half of 2022, with domestic economy-driven sectors recording stronger growth December 2022 numbers when compared to the average of H12022 showed a robust 51 per cent growth in hiring activity in the insurance sector; 33 per cent in the oil sector; 24 per cent in banking;…

▶ INDIA IS HOME to many a successful and innovative company, but some stand out more than the rest. With policies focussing on issues ranging from employee benefits to creating a positive work environment and opportunities for growth to skill development, Tata Consultancy Services (TCS) has distinguished itself as a great place to work from one that is just good. In doing so, TCS is also setting the template for other firms to follow. And this has helped TCS emerge as the top-ranked firm in the BT-Taggd Best Companies to Work For in India ranking this year. TCS—which will see Global Head of BFSI Business Group K. Krithivasan take over as CEO & MD from incumbent Rajesh Gopinathan on September 15—understands the importance of adapting and exploring new ways of…

▶ FOR AXIS BANK, acquiring the consumer business—loans, credit cards, wealth management and retail banking—of Citi India was a big win as it positioned the country’s third-largest private sector bank (in terms of total assets) for accelerated growth in the premium segment. Axis Bank reported total income of ₹82,597 crore in FY22. However, the ₹11,603-crore buy—that Axis Bank completed on March 1, 2023—also meant integrating around 3,200 people into the lender, which already had more than 88,000 employees on its rolls. And that wasn’t the only challenge for the bank’s HR—it also had to deal with the cultural differences that typically exist between a domestic entity and a foreign one. “In any integration, we need to recognise that as much as it is about embracing the others, it is also…

▶ AS YOU ENTER the headquarters of Abbott India located in Mumbai’s BKC, the mood inside is one of focussed activity interspersed with fun and frolic. A recreation room is filled to the brim with games and bean bags, with employees flitting in and out for a quick moment of rest and relaxation or an intense competition over a board game. And while there is definitely pressure to meet deadlines and be productive at work, the emphasis on taking a break is equally apparent. What we are speaking of is a very large entity positioned as a diversified healthcare business that has been operating in India for over a century now. And its businesses encompass a range of segments from medical devices to diagnostics and nutrition products to branded generic…

▶ THE JOB LANDSCAPE has witnessed two seminal moments—mass layoffs and the Great Resignation—in the past two years that have changed the way employees’ perceive their jobs. While India weathered both relatively well, uncertainty about jobs soared. The mass layoffs took a psychological toll on the workforce, making them rethink their expectations from a job. A pattern that emerged is that employees no longer want to be treated as mere resources. They want greater visibility into their future at the workplace, better job security, a more balanced work-life equation, and to be treated as a part of the firm. For more than two decades, Taggd, in association with Business Today, conducts an annual survey to understand employee aspirations and what they expect from an ideal workplace, and use these insights…

Co-Powered by Mobility Partner Tourism Partner Gifting Partner CALLED THE CITY of Joy, Kolkata—known for its unbound exuberance, culture, traditions, history, literature, food and more—played the perfect host on March 25, 2023, for the concluding edition of the Royal Ranthambore presents Business Today Golf tournament at the historic and adventurously difficult Tollygunge Club—that started life as a plantation and which has gone through several iterations before its current avatar of a golf course set in the heart of bustling South Kolkata. As one of the oldest courses in this part of the world, the greens here have a character of their own, much like the city it resides in. For instance, this is one golf course where walking is par for the course as golf carts are not allowed because…

APM prices are to be 10 per cent of the Indian Crude Basket Price as defined by PPAC; done on a monthly basis on the last day of the month Gas produced by ONGC and OIL from legacy fields will be subject to floor and ceiling prices of $4/MMBtu and $6.5/MMBtu, respectively; to be maintained till FY25 and then increased by $0.25/MMBtu each year Gas produced from new wells or well interventions in legacy fields of ONGC and OIL will have a premium of 20 per cent above APM prices; this gas will be allocated separately from APM gas for five years PPAC to prepare and maintain a portal for monitoring CNG and PNG consumer prices on a real-time basis, with inputs received from CGD entities SOURCE MINISTRY OF PETROLEUM…

▸ New supply and sales of affordable homes have been faltering since Covid-19, falling 20 and 11 percentage points, respectively, between 2019 and 2022 ▸ With the cost of construction surging by healthy double digits and land prices soaring, affordable units are becoming unaffordable for developers to make ▸ Changing preference of homebuyers, from compact units to larger homes, has also impacted demand ▸ A lack of government measures to address the slide—like increasing the price cap of affordable homes from ₹45 lakh to ₹1 crore—remains a concern ▸ Developers are moving towards mid-income homes for greater returns as average home prices have surged 14 per cent in two years…

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▶ IN A CUT-THROAT world where top tech talent is a rare gem, Infosys has found a two-pronged approach to retain its employees: holistic rewards and deep engagement. By offering direct compensation, long-term payouts and career-nurturing programmes, the IT bellwether ensures its employees are well-compensated and constantly upskilling for the jobs of the future. “Our employee-first culture drives us to consistently improve employee experience and sustain superior performance—which ultimately serves as our competitive advantage in an industry where services are easily replicated,” says Shaji Mathew, Group Head of Human Resource Development at Infosys, which had revenues of ₹38,318 crore in Q3FY23. Mathew took over from Krish Shankar who retired in March after being in the role since 2015. At the heart of Infosys lies a philosophy that elevates its employees…

The Founder, Chairman & Managing Director of DCX Systems Ltd, Dr. HS. Raghavendra Rao was born in SHosakote village in the Nanjanagud Taluk of Mysore. He started his career in 1989, evolving as an acknowledged expert in marketing and supply chain with nearly three decades of experience in the domestic & international electronic manufacturing market. A Doctorate in Business management from the International Peace University of Germany, he is a recipient of the Mahatma Gandhi Samman Award, Young Entrepreneur of the Year Award, lndo-Nepal Ratan Award and Business Leadership Award. Dr. Rao founded DCX India in 2011 to manufacture Electronic Sub-Systems, Cable and Wire Harnesses for the Defense and Aerospace Industry. His initial years of relentless struggle saw him win accolades and awards as his company emerged as one of…

There is no argument that diamonds are the ultimate symbol of love, commitment and trust. Natural diamonds are a miracle of nature, a treasure and a legacy, unmatched and unsurpassed. But buying solitaire diamonds is no easy task. The value and beauty of diamonds are determined by many factors and it is impossible for any consumer to fully understand. Further, there is an inherent lack of transparency in the market that discourages asset value creation and confidence in buyers. Divine Solitaires comes to save the day. Founders Jignesh Mehta and Shailen Mehta had a dream and a vision to offer the best, make it easy to buy and build value for consumers in their asset. Specially curated diamonds standardised and guaranteed to be the best with Hearts and Arrows cut,…

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Pankaj Jathar, Vice President and Country Head–India of Etsy, an e-commerce company focussing on handmade products by small sellers, has an ear for music. Little wonder, then, that his friends and family often designate him the in-house DJ for parties and get-togethers. What started as just having fun became a serious passion around three years ago when he purchased a DJ set. “I was told that I have a good ear for the kind of music that would work with a particular audience, and I also enjoyed the process. Encouraged by this feedback, I tried to explore this a little more and bought a DJ set,” says the 49-year-old. Professional DJs use many types of equipment, including a controller, turntable and CDs or digital audio files on a computer, to…

» Speaking about the decisions rural women face and the pressure on them, Ganesh said that for them, it’s a choice between taking necessary risks to make their lives better or face a life of penury » Echoing Ganesh, Shah said that women are conditioned from a young age to avoid taking risks and herded towards a life of comfort and safety, which creates a lot of doubts in their minds, and undermines their confidence » Elaborating on her point, Shah said that the entrepreneurial journey is all about taking risks and not knowing with any certainty if the plans are going to work out or not…

7 BSE 500 firms SAW THEIR STOCKS RALLY OVER 100 PER CENT IN FY23; THEY ARE MAZAGON DOCK SHIPBUILDERS, VARUN BEVERAGES, FINOLEX CABLES, LLOYDS METALS & ENERGY, RAIL VIKAS NIGAM, UCO BANK AND MAHINDRA CIE AUTOMOTIVE ₹6,325 per sq. ft THE AVERAGE PAN-INDIA HOUSING PRICE DURING JAN-FEB 2023. THE FIGURE STOOD AT ₹6,001 PER SQ. FT IN JAN-MARCH 2022, AS PER ANAROCK RESEARCH ₹65,000 per 10 gm LIKELY PRICE OF GOLD BY MARCH 2024, AS PER SMC GLOBAL SECURITIES’ FORECAST; SILVER IS EXPECTED TO REACH ₹82,000 PER KG BY THEN 32 per cent THE DECLINE IN BITCOIN PRICES IN FY23—FROM ₹34.52 LAKH ON MARCH 31, 2022 TO ₹23.40 LAKH ON MARCH 31, 2023 18,000 LIKELY LEVEL OF THE NIFTY BY THE END OF MARCH 2024, ACCORDING TO PRABHUDAS LILLADHER; THE…

▶ NYKAA FASHION, A direct subsidiary of FSN E-commerce Ventures Ltd, saw three top-level exits in March—which the company dubbed as “standard annual appraisal and transition process”. The fashion vertical, launched in 2018, accounted for 30 per cent of Nykaa’s GMV and 14 per cent of net sales in Q3FY23, but Ebitda losses in Nykaa Fashion stood at ₹68.2 crore in FY22, and are estimated to be ₹180-200 crore in FY23, per Elara Securities. Nykaa Fashion’s chief problems are poor recall and Nykaa’s inability to cross-sell its fashion products to the core beauty & personal care consumer base. As a result, it occupies less than 10 per cent share in India’s online fashion segment currently dominated by Myntra, which has a share of 50-55 per cent. “Nykaa is a late…

Aswath Damodaran says he is a teacher first, who also loves to untangle the puzzles of corporate finance and valuation. The Professor of Finance at New York University’s Stern School of Business says that the current banking crisis is a problem of trust deficit and there will be pain till the lenders regain the trust. In an interview with Business Today’s Global Business Editor Udayan Mukherjee, Damodaran talks about the banking crisis, recession, why regulators put together do not have the resources to stop a complete bank run and why it is healthier for start-up ecosystems not to have too much money. Edited excerpts: Q: The banking crisis started off with Silicon Valley Bank, followed by Signature and then Credit Suisse. And just when we thought it couldn’t get any…

1 CGD FIRMS HAVE REDUCED CNG AND RESIDENTIAL PNG PRICES BY 8-11 PER CENT BASED ON NEW PRICING NORMS 2 THIS WILL STABILISE GAS PRICES AND SUSTAIN COMPETITION WITH ALTERNATIVE FUELS TO DRIVE DEMAND 3 GAS PRICES HAVE FLUCTUATED FROM A LOW OF $1.79/MMBTU IN 2021 TO A HIGH OF $8.57/MMBTU FOR H2FY23 4 FERTILISER AND POWER SECTOR COMPANIES TO ALSO SIGNIFICANTLY BENEFIT FROM THE MOVE 5 INTRODUCTION OF UNIFIED TARIFFS AND INCREASE IN TARIFF ZONES WILL HELP REDUCE THE TRANSMISSION COST OF NATURAL GAS SOURCE CRISIL RATINGS, BT RESEARCH…

THESE ARE ATYPICAL times. The once-in-a-century Black Swan event of 2021 and 2022—we’re not talking Covid-19 necessarily; we’re talking lockdowns—forced governments, companies, schools, colleges, you, me, everybody, everywhere in the world, to go digital. As industry after industry sank to their knees in the face of the lockdowns, corporations frantically upped the pace of digitalisation, unwilling to be caught napping anymore in any lockdown-like scenario, or any other unforeseen-event scenario. Yet, today it is the tech sector that is handing its employees the most pink slips in a layoff maelstrom. Flip the coin. Employees are also merrily hopping jobs. I can’t buy an iPhone with this salary, I’m leaving. I don’t like my boss, I’m leaving. This industry has no future, I’m leaving. I’m too good for you, you’re not…

▶ MUMBAI-HEADQUARTERED ICICI BANK recently extended an invitation to former Indian hockey team captain Viren Rasquinha to meet its senior management team. In a talk, the 42-year-old Rasquinha enlightened them on how the game of hockey has transformed over the years. The players’ formation in the front and midfield changes continuously. The substitutes and the players on the ground have to continuously adapt, adjust and strategise on the fly. “He [Rasquinha] spoke about how the game has changed and how people are expected to have a very flexible mindset to survive and thrive in today’s hockey,” recalls T.K. Srirang, Group Chief Human Resources Officer, ICICI Bank. In some aspects, the corporate world is evolving in a manner similar to how hockey and other sports are changing in today’s world. Customer…

▶ PANDEMIC OR NOT, what matters most to employees is the culture and values of an organisation and their access to opportunities within the company. And that’s what is driving Indian IT bellwether Wipro, with its global workforce of over 250,000 people. “To define Wipro as I have experienced it—it is a very value-driven, high-integrity, apolitical and informal type of place—where the sky is the limit,” says Saurabh Govil, CHRO of Wipro, who joined the company in 2009. “It’s a place where there’s camaraderie, where you can express yourself, and it is a safe space to raise issues. It’s an organised environment where many people want to work,” he adds. With the belief that an organisation’s culture can impact its business performance, Wipro practises the values enshrined in its ‘Spirit…

1 Only 9.5 per cent of the surveyed organisations have made extremely significant efforts to be LGBTQ+ inclusive, of which a majority were MNCs 2 A vast majority (69.2 per cent) of the organisations surveyed made very limited efforts to be truly inclusive in their organisational approach 3 Only a small fraction (23 per cent) is putting in efforts to consciously hire people from the LGBTQ+ community. Within that, MNCs (62 per cent) formed the majority 4 Moreover, most of these hirings take place at the junior (33 per cent) and mid (31 per cent) levels THE TOP 4 LEVERS OF MOTIVATION FOR MNCs TOWARDS DIVERSITY AND INCLUSION TARGETS COMMITMENT AT THE GLOBAL LEVEL ROLE MODELS IN LEADERSHIP HIGHER BUDGETS FOR INCLUSION ATTRACTING BETTER TALENT LGBTQ+ POPULATION’S UNIQUE CHALLENGES DURING…

The Nutraceuticals (Dietary Supplement) industry has been struggling with designing responsible nutraceuticals with solid scientific backing. Consumers and the medical fraternity have been demanding evidence based nutraceuticals. The market has evolved into demanding Safety, efficacy and sustainability. In pursuit of designing responsible nutraceuticals, companies take anywhere from 1.5 years to 3 years to design and commercialize their innovations. NutrifyGenie is revolutionizing the industry and changing the dynamics of the game. The future is truly here and now. Imagine the Head of Business at a nutraceutical company debating with his research team on the choices that NutrifyGenie in metaverse has presented to them for next big ingredients from the wealth of 8 million data in the metaverse. They are simultaneously interacting with the Genie in making choices of ingredients for designing…

The Delhi based Anamika Yaduvanshi is a life coach and motivational speaker who firmly believes that a positive mindset and a ‘never give up’ attitude will help everyone achieve their life goals and build their dream lives. A member of the prestigious International Coach Federation under the aegis of the Certified Coaches Alliance and Symbiosis Coaching USA, her impeccable credentials are a testimony to her superlative skills, ethics and professionalism. An Interior Designer, Anamika took up her hobby of helping others lead a meaningful life, turning it into a full-time profession. A project started off amongst family and friends, spread out like wildfire, by word of mouth. Within a year, she was entertaining clients from across the globe. Anamika has helped hundreds of people in unleashing their full potential and…

PAPER LOVE Love sticky notes? Miss the feel of paper in your paperless office? What if you could take notes on your phone and print them out as sticky notes? Or send paper messages as well? To do all this, you need the Cubinote Home solution—a compact thermal printer that works with a compatible Cubinote app. Using the app, you can create notes/messages and send them to the thermal printer to print via Bluetooth or Wi-Fi. Isn’t it cool see your message end up in paper form? And if you send an email to your CubiMail email address, the printer automatically prints it! Available on: amazon.com THE LIGHT OF YOUR LIFE Wherever your workstation is, two things are a must these days: a well-lit environment and a webcam. Lenovo’s desk station…

Banking Partner Inclusive Technology Partner Insurance Partner Celebration Partner Digital Media Partner Design Partner Radio Partner Trade Media Partner OOH Partner Hospitality Partner THE STARS CAME out early on a Friday evening in March as Business Today celebrated the success and achievements of The Most Powerful Women in Business, with a host of women leaders at St. Regis Mumbai. Kicking off the evening’s proceedings was an agenda-setting discussion on ‘Leadership’s Female Quotient’, helmed by Tarun Khanna, Jorge Paulo Lemann Professor of Harvard Business School. Following it were several interesting discussions featuring Zia Mody, Co–founder and Managing Partner at AZB & Partners; Arundhati Bhattacharya, Chairperson and CEO of Salesforce India; Swati Piramal, Vice Chairperson of Piramal Group; and Nandita Das, Film-maker and Actor, among other eminent personalities from the fields of…

» Talking about the stereotypes that men cast on women of being too high-strung to take practical decisions, Gupta said that it is usually women’s biggest strength that allows them to be prolific multi-taskers and managers » Highlighting the importance of financial security in women’s lives, she said that the ability to earn is a great enabler for women to make independent decisions and to be treated as equal to men » Further, calling men to action to take the initiative in ensuring an equal footing for women, she said that treating women well should be taught to people from a young age…

» Noting that women who return to work after a break find themselves in positions lower than when they left, Nadar Malhotra said that employers should create an environment where women are promoted, instead of going a step down » Nadar Malhotra said that the shift towards hybrid workspaces has had a positive impact on the productivity of women in the workforce » In addition, she encouraged established companies to foster an environment that motivates women to present their entrepreneurial ideas and to provide more opportunities for women to explore such ideas within the organisation…