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<ul><li>Top executives in Indian companies are projected to enjoy at least 8.9% <keyword id="6355281" type="General" weightage="20" keywordseo="salary-hike" source="Orion">salary hike</keyword> this year as compared to 7.9% in 2021.</li><li>The same percentage was 5.1% in 2020 and 8.1% in 2019.</li><li>Top executives in the manufacturing sector with 9.3% and the information technology sector at 9.2% are likely to get the maximum salary hike this year.</li></ul>The top executives in India have something to celebrate about. Their salaries will grow by 8.9% this year - with a solid one percentage point increase from last year. This the highest upward movement seen in the last five years, as per a <keyword id="13968169" type="General" weightage="20" keywordseo="2022-Executive-Rewards-Survey-in-India" source="Orion">2022 Executive Rewards Survey in India</keyword> by Aon. The report also said that the average <keyword id="55739" type="General" weightage="20" keywordseo="CEO-compensation" source="Orion">CEO compensation</keyword> is at around ₹7 crore per year. Nearly 60% of a CEO salary is pay at risk — which is the sum of variable pay and long-term incentives (LTI). For other top executives like CFO, HR head and others, this is at 50%. “The annual long-term incentive for CEOs on average is 125% of the fixed pay. Most companies use a mix of performance and retention-based grants, with at least 50% of the grant amount linked to performance measures such as shareholder return, profit, revenue and cash flows,” says the report. <cmsannotation type="cmsannotation" annotationid="Manufacturing sector CEOs to get the best hikes" comment="subhead" text="Manufacturing sector CEOs to get the best hikes">Manufacturing sector CEOs to get the best hikes</cmsannotation> The salaries of the rest of the workforce is also expected to grow by 9.9%, said AON. “The organizations are expecting the salary increases to be ‘buoyant’ in the next 24 months as the salary budgets in the companies are steadily rising,” the report said. The sectors which are giving the sharpest CEO salary hikes are manufacturing at 9.3% and IT at 9.2%. CEOs from other sectors like consumer goods, financial institutions and life sciences could get a little over 8%. This CEO salary hike could be driven by the pandemic when they could not attract overseas talent - making the domestic C suite more attractive. “The cost of attracting, retaining and engaging leadership talent that grows business is rising rapidly. Not only is the average executive compensation increased the highest in five years, but variable pay and equity grants have also risen as companies cannot risk losing key talent at senior levels as this has implications on delivering business performance,” said <keyword id="211396" type="General" weightage="80" keywordseo="nitin-sethi" source="Orion">Nitin Sethi</keyword>, partner and CEO of Human Capital Solutions at Aon India. The survey received responses from 475 organizations from over 15 sectors and covering over 40 executive positions. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/after-unacademy-vedantu-has-laid-off-600-people/articleshow/91643403.cms">Vedantu follows Unacademy’s footsteps — fires over 600 people in May</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/rajasthan-uttar-pradesh-saw-most-internet-shutdowns-after-jammu-and-kashmir-in-the-last-10-years/articleshow/91643000.cms">Rajasthan, Uttar Pradesh saw most Internet shutdowns after Jammu and Kashmir in the last 10 years</a>

Indian CEOs could get the best salary hike in 5 years; and they already make ₹7 crore/yr on an average

<ul><li>A survey by Indeed, on people who had to <keyword id="123591" type="General" weightage="20" keywordseo="work-from-home" source="Orion">work from home</keyword> due to the pandemic, showed that 73% miss socialising with their colleagues in person.</li><li>Companies are now forced to set out satellite offices as people need physical sense in some ways.</li><li>“Employees are willing to pay up to $300 or more per month for access (to office space), so there's a demand for space, and to be around people, but not full time,” said <keyword id="1859852" type="General" weightage="20" keywordseo="dan-schawbel" source="Orion">Dan Schawbel</keyword>, managing partner at Workplace Intelligence.</li></ul>Many of us have spent the majority of 2020 and also the whole of 2021, so far, working remotely. The rapid transition out of the conventional office has met with mixed reactions. Some miss a physical sense of the workplace and some are missing their colleagues. But the reality tells work from home is here to stay for sometime more or may be forever. At Business Insider's <a href="https://fow.businessinsider.in/?_ga=2.126956105.573022810.1631501431-654330148.1628410544">Future of Work event</a>, two brilliant minds -- <keyword id="211396" type="General" weightage="20" keywordseo="nitin-sethi" source="Orion">Nitin Sethi</keyword>, chief executive officer, human capital solutions, AON, India and South Asia, and Dan Schawbel, managing partner, Workplace Intelligence, who have experienced and studied the global workforce at large provided insights on the changing trends. One thing that was clear from their conversation was that there is a lot that people are missing out on now, even when compared to the comfort and convenience they have at home. A <a href="https://www.indeed.com/career-advice/career-development/covid-19-what-people-miss-most-about-office-work">survey </a>by Indeed, an employment website for job listings, on people who had to work from home due to the pandemic, showed that while 78% reported they have since adjusted, half of our respondents still miss their commute, 45% miss in-person meetings and 73% miss socialising with their colleagues in person. <div type="ExtQuote" text="“Jobs are going to people now, more than people are going to jobs, but people want access to an office and in one of the findings, which we thought was fascinating was that if an employer doesn't offer access to an office space. Employees are willing to pay up to $300 or more per month for access, so there's a demand for space, and to be around people, but not full time, &quot;" auname="Dan Schawbel, managing partner at Workplace Intelligence"></div> Working from the office matters more to young graduates who want to work in an office around people. “This is because they want the same community that they had in college”, he added. It is a huge difference in both settings of work. In a corporate setting you can walk down the hallway and talk to your colleagues but while working remotely it's not possible. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> The speakers pointed out that there is an emphasis on companies to have some physical spaces like satellite offices. A satellite office is a branch of a company that's physically separate from the organisation's main office. “So for instance, let's say you're in India and you get a job that was normally based in, you know California in the United States, that company, potentially would give you (allot you a workplace) a satellite office in India that you and your colleagues in the area can go and socialise,” added Dan. To this, Nitin pointed out that companies are being forced into a point where they need to kind of set up satellite locations as people need physical sense in some ways. “You need to come into spaces to collaborate, to kind of go better suited to be speaking to a lot of that stuff happening,” said Nitin. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> So the reality stands that there will be a mixed workplace ecosystem in days and years to come. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/universal-pension-is-a-better-idea-than-universal-basic-income-says-indias-chief-economic-advisor/articleshow/86282048.cms">Future of Work 2021: Universal pension is a better idea than universal basic income, says India's Chief Economic Advisor</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/the-only-way-to-beat-the-bots-from-taking-your-job-is-to-be-more-human/articleshow/86282273.cms">Future of Work 2021: The only way to beat the bots from taking your job is to be more human</a>

Future of Work 2021: Work from home is here now, but people demand some physical sense at work

The <a href="http://www.businessinsider.in/searchresult.cms?query=startup+&amp;sortorder=effectivedate">startup </a>scenario has changed a lot and startups, now are more focused on becoming profitable than just scaling up. They are now putting in place new talent initiatives. 
 
Companies like <a href="http://www.businessinsider.in/searchresult.cms?query=PolicyBazaar&amp;sortorder=effectivedate">PolicyBazaar</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=MobiKwik&amp;sortorder=effectivedate">MobiKwik</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=Chaayos&amp;sortorder=effectivedate">Chaayos</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Treebo+Hotels&amp;sortorder=effectivedate">Treebo Hotels</a> are planning to scale up on talent, and be heavily focused on communicating their company vision better. 
 "We will concentrate on performance management and upping the motivation in a fast-growing environment so that the managers perform to their optimum,” <keyword id="1779565" type="UNKNOWN" weightage="20" keywordseo="Rashmi-Daga">Rashmi Daga</keyword>, chief executive at <keyword id="6434843" type="UNKNOWN" weightage="20" keywordseo="FreshMenu">FreshMenu</keyword>, told ET. 
 Similarly, <keyword id="696009" type="UNKNOWN" weightage="20" keywordseo="Policybazaar">PolicyBazaar</keyword> is also looking forward at sprucing up talent and firing redundant employees. Most of its people, across the organisation, have been in the same role for the last four years. In that period, the company has grown 150 times. For the company, the focus will be on the fact that it must keep the annual growth rate as high as 100% while managing its people. 
 
Before all this, many companies sought out a large numbers of youngsters, thinking a degree alone would be enough. 
 "This led to many wrong hiring being made across startups looking to scale up, and consequent layoffs. This year, even investments will be hard to come by from, say, a year ago,” <keyword id="2128273" type="UNKNOWN" weightage="20" keywordseo="Jappreet-Sethi">Jappreet Sethi</keyword>, co-founder of YoStartups, which provides consultation services to startups, to ET. 
 
Now the startup are looking to build skills in-house, and for this, having the right talent in place is essential. Chaayos, which has been four years in operation, will focus on making the culture of the company very strong. 
 "In today's world, anyone can acquire the same technology, infrastructure and paraphernalia to set up a competing business. But it is only the right talent that will make the difference for Chaayos,” CEO <keyword id="2796372" type="UNKNOWN" weightage="20" keywordseo="Nitin-Saluja">Nitin Saluja</keyword>, told ET. 
 
PolicyBazaar will also look to sift out now redundant employees. 
 
"People hit a point where they must either grow to the next level or bow out. We need fresh ideas and a lot of restructuring. We have a 12-18 month approach for this. In some cases, when some people aren't able to make a change within that period, we have to replace them,” Yashish Dahiya, CEO of PolicyBazaar, told ET. 
 
Post-demonetisation, MobiKwik is geared to grow much quicker amid the push for digital payments. 
 "We will hire smarter and spend much more time and resources. The right attitude, the startup-oriented temperament and an uncompromising approach to quality is what we're looking for,” cofounder <keyword id="6587619" type="UNKNOWN" weightage="20" keywordseo="Upasana-Taku">Upasana Taku</keyword>, told ET. 
 There needs to be a focus on behavioural assessment and culture fit for candidates looking to join startups, not just skills, said <keyword id="4250" type="PERSON" weightage="20" keywordseo="Sethi">Sethi</keyword> of YoStartups. Startups need to realise there is no 'perfect' candidate.

Startups now are scaling up talent and hiring people with multiple skill-set

In a deal that took over two years and countless emails,<a href="http://In a deal that took over two years and countless emails, Aon Hewitt, the leading human capital and management consulting firm acquired nine-year-old Gurgaon-based hiring assessment startup CoCubes. The acquisition becomes all the more significant at a time when we’re seeing more and more Indian companies relying on assessment tests for their pre-hiring process as it saves them the trouble of spending time, effort and most importantly- manpower in shortlisting the right candidates. That’s not all; these tests also help companies gauge an applicant’s job worthiness by screening applicants according to their level of qualifications for specific jobs. On their part, Aon Hewitt too realised the importance of buildinga comprehensive solution to hiring assessments as it was a big part of their business. “We had two options. Either we spend two years building capability and technology ourselves or we go out and acquire a business that has carved out a name for itself when it came to pre-hiring assessments,” said Nitin Sethi, Partner and Chief Commercial Officer, India Consulting, Aon Hewitt. CoCubes seemed like the natural choice, what with an efficient leadership team, a reputation and a sound technology that can be deployed not just in India, but in any part of the world. The acquisition will see CoCubes adding two million assessments to Aon Hewitt’s existing global portfolio of 20 million assessments spread across 164 countries. This move will not only benefit the 600 clients of CoCubes and the 1100 clients of Aon Hewitt in India, but also candidates looking out for a job. Under Aon Hewitt, CoCubes will serve a bigger set of clients and get more number of companies on board for their PreAssess exam, which is a centralized test for all the companies on board with CoCubes. This means, anyone who takes the PreAssess exam are qualified to apply to apply for as many job vacancies as they want with their PreAssess score instead of giving separate exams for different job vacancies. At the moment, there are 100,000 people taking these exams, and under Aon Hewitt, CoCubes aims to reach more companies, and unlock more jobs for candidates. Secondly, this acquisition will also guarantee that Aon Hewitt’s corporate clients are given an one-stop shop for entry level hiring assessment solutions. This essentially means candidates will be in a position to get a job that are aligned with their talents and goals, that too much faster and without spending half the time and effort."> Aon Hewitt</a>, the leading human capital and management consulting firm acquired nine-year-old Gurgaon-based <keyword id="3846463" type="UNKNOWN" weightage="100" keywordseo="Hiring-Assessment">hiring assessment</keyword> startup <keyword id="452400" type="UNKNOWN" weightage="100" keywordseo="CoCubes">CoCubes</keyword>. 
 
The acquisition becomes all the more significant at a time when we’re seeing more and more Indian companies relying on assessment tests for their pre-hiring process as it saves them the trouble of spending time, effort and most importantly- manpower in shortlisting the right candidates. 
 That’s not all; these tests also help companies gauge an applicant’s job worthiness by screening applicants according to their level of qualifications for specific <keyword id="11018" type="COMPANY" weightage="100" keywordseo="Jobs">jobs</keyword>. 
 On their part, <keyword id="6462982" type="COMPANY" weightage="100" keywordseo="Aon-Hewitt">Aon Hewitt</keyword> too realised the importance of buildinga comprehensive solution to hiring assessments as it was a big part of their business. “We had two options. Either we spend two years building capability and technology ourselves or we go out and acquire a business that has carved out a name for itself when it came to pre-hiring assessments,” said <keyword id="211396" type="PERSON" weightage="100" keywordseo="Nitin-Sethi">Nitin Sethi</keyword>, Partner and Chief Commercial Officer, India Consulting, Aon Hewitt. 
 
CoCubes seemed like the natural choice, what with an efficient leadership team, a reputation and a sound technology that can be deployed not just in India, but in any part of the world. 
 
The acquisition will see CoCubes adding two million assessments to Aon Hewitt’s existing global portfolio of 20 million assessments spread across 164 countries. 
 
This move will not only benefit the 600 clients of CoCubes and the 1100 clients of Aon Hewitt in India, but also candidates looking out for a job. 
 
Under Aon Hewitt, CoCubes will serve a bigger set of clients and get more number of companies on board for their PreAssess exam, which is a centralized test for all the companies on board with CoCubes. This means, anyone who takes the PreAssess exam are qualified to apply to apply for as many job vacancies as they want with their PreAssess score instead of giving separate exams for different job vacancies. At the moment, there are 100,000 people taking these exams, and under Aon Hewitt, CoCubes aims to reach more companies, and unlock more jobs for candidates. 
 
Secondly, this acquisition will also guarantee that Aon Hewitt’s corporate clients are given an one-stop shop for entry level hiring assessment solutions. 
 
This essentially means candidates will be in a position to get a job that are aligned with their talents and goals, that too much faster and without spending half the time and effort.

Here's how Aon Hewitt's acquisition of CoCubes is going to make it easier for you to get a job

<keyword id="6462982" type="COMPANY" weightage="100" keywordseo="Aon-Hewitt">Aon Hewitt</keyword> today announced its acquisition of CoCubes, a leading hiring assessment company based in India. With this transaction, Aon Hewitt adds two million assessments to its existing global portfolio of 20 million assessments spread across 164 countries. 
 
Aon Hewitt, one of the earliest solution providers in selection and assessment, helps organizations make better hiring decisions and improve performance by predicting the success of their potential and current employees. CoCubes, on the other hand, connects colleges, students, and corporates using assessments; to create a seamless entry-level hiring ecosystem. 
 <keyword id="166440" type="PERSON" weightage="20" keywordseo="Sandeep-Chaudhary">Sandeep Chaudhary</keyword>, CEO, India Consulting, Aon Hewitt, shared, “We were actively looking for an organization that focuses on employability assessments. CoCubes stood out for us as a successful startup with its profitable growth, resilient leadership team, and an innovative technology platform. With its strong client standing and value-aligned leadership, CoCubes is clearly our partner of choice to augment our assessment solutions in India and across other markets in <keyword id="119132" type="COMPANY" weightage="20" keywordseo="Asia-Pacific">Asia Pacific</keyword>.” 
 “With the acquisition of CoCubes, we will now be a one-stop-shop for entry-level hiring assessment solutions. CoCubes complements our specialization in behavioral and leadership assessments with technical and vocational assessments, in addition to its innovative proctoring solutions. By solving the employability challenge with educational institutions and sector skill councils, Aon Hewitt is now geared to fulfill the entry level hiring needs for corporate clients.” said <keyword id="211396" type="PERSON" weightage="20" keywordseo="Nitin-Sethi">Nitin Sethi</keyword>, Partner and Chief Commercial Officer, India Consulting, Aon Hewitt. 
 The CoCubes founders, <keyword id="143051" type="PERSON" weightage="20" keywordseo="Harpreet-Singh">Harpreet Singh</keyword> and <keyword id="2188847" type="UNKNOWN" weightage="20" keywordseo="Vibhore-Goyal">Vibhore Goyal</keyword>, will continue to lead the business as a separate practice line and will join Aon Hewitt’s Talent, Rewards and Performance (<keyword id="20751" type="ORGANIZATION" weightage="20" keywordseo="TRP">TRP</keyword>) vertical, reporting to Nitin Sethi.

Aon Hewitt acquires CoCubes, a hiring assessments company

<ul class="summary-list"><li>Power Slap is a new slap-fighting venture brought to you by the main figureheads at the UFC.</li><li>Slap fighting has polarized the combat sport industry as it has health and safety risks.</li></ul>LAS VEGAS — A sports commissioner requested assurances from Power Slap executives that no one will die from competing in the controversial new sport of slap fighting."You will make sure no one dies?" Nevada State Athletic Commission chief Stephen Cloobeck asked UFC chief business officer Hunter Campbell at a regulatory meeting Insider attended Wednesday in Las Vegas."That is priority one, two, three," Campbell said, counting all the way to ten. "That goes without saying. One of the reasons we tested this was to understand the health and safety aspect."Cloobeck, though, requested further assurances. "You will make sure that no one has severe brain injuries going forward?"Said Campbell: "That's correct."<h2>Slap fighting is UFC boss Dana White's newest offering</h2><div type="image" title="Dana White, the brains behind Power Slap." height="659" width="1200" msid="95609341" hostid="261" sizebytes="25144"></div>UFC President Dana White, who helped propel mixed martial arts into prominence worldwide, is one of the brains behind bringing slap fighting to Nevada.White told reporters earlier this month that he has been researching slap fighting since 2017, and was blown away by the social media numbers that clips of the sport's concussive strikes had been generating.The UFC boss wanted to create an entity separate from the UFC that could legitimize slap fighting in America, and so through Power Slap he requested regulation— something the Nevada commission granted in October."Thank you to the Nevada State Athletic Commission, and chairman Cloobeck." said White. "There are official weight classes, rules, rankings, and extensive medical testing. The sport is now legit."White's legit new sport, though, has polarized the combat industry. Traditionally in a combat sport like boxing, the art that fighters like Floyd Mayweather perfected was to hit and not get hit in return.In slap fighting, defense is essentially outlawed. Participants take turns slapping one another as hard as they can. After three goes each, a winner is declared either by knockout, or decision.Watch the official trailer for Power Slap:"I know there are a lot of concerns about health and safety," White said last week. "But us getting involved guarantees" slap fighting "will get much safer."<h2>Will slap fighting really become safer?</h2><div type="image" title="A scene from Power Slap promotional footage." height="617" width="1200" msid="95609343" hostid="261" sizebytes="21184"></div>For Dr. Nitin Sethi, a neurologist and member of the Association of Ringside Physicians, it is unclear."We don't have data to say if it's safe, or unsafe," Dr. Sethi told Insider recently.It will only become apparent with time, if regulation will make the fringe combat sport safer as it enters the mainstream, has more participants, and provides medical professionals with data to determine whether that is indeed the case."Science will give us the data, and so science will give us the answer," Sethi said.Regarding the health and safety concerns of slap fighting generally, Sethi described the premise of the sport's goal as rendering one's opponent unable to continue because of the force and accuracy of an open palm strike."I've seen it happen where they buckle because the force of the slap is so hard. They sometimes have a glassy look in their eyes. Some, clearly, look concussed," Dr. Sethi said."I don't think there's as big concerns with orthopedic injuries, like you'd see in MMA with all the armbars, kneebars, chokes."But, obviously, it doesn't need a neurologist to say that concussions do occur … and that health and safety concerns are raised."Just exactly how big are these health and safety concerns, how frequent are these concussive injuries? I think these are where the rational discussions will take place amongst all concerned parties."Speaking in the aftermath of the Nevada commission regulating slap fighting, and in response to criticism of the sport, White compared Power Slap to boxing <a href="https://www.mmafighting.com/2022/10/22/23416154/dana-white-fires-back-at-goofballs-critical-of-slap-fight-league-commission-nevada-did-right-thing?_gl=1*1cdzgoo*" target="_blank" rel="noopener">when speaking to MMA Fighting in October</a>.<div type="image" title="Dana White is bringing Power Slap to a TV screen near you." height="494" width="1000" msid="95609345" hostid="261" sizebytes="13970"></div>"In a boxing match, guys get hit with 300-400 punches in a fucking fight," said White. "These guys are going to get hit with three slaps."There are inherent risks throughout combat sports and even contact sports, like football and lacrosse, Sethi told Insider."I respect Mr. Dana White," Sethi said. "Obviously, he's been in the sport for a long period of time and has a lot of experience. I respect his viewpoint, and we should respect everybody's viewpoint."Slap fighting is not going to be any different to other combat or contact sports — all contact sports carry risk of concussive injuries," he said, adding that he cannot just yet say for certain how the new sport can be made any safer. It is too early for that."We don't have medical data about this sport," he said. "MMA, meanwhile, has matured as a sport since Dana White took control of the UFC."They received pushback, but it has matured and the sport has become mainstream as health and safety issues got addressed."Slap fighting may well be similar, and it may well mature now that the sport is regulated by the Nevada commission and it becomes more mainstream, he said."With regulation, there is more medical oversight," the neurologist said.<h2>Power Slap will air its first season in early 2023</h2><div type="image" title="Power Slap face-off." height="549" width="1000" msid="95609347" hostid="261" sizebytes="17944"></div>Now, with official sanctioning, Power Slap will debut in the coming months; it has a broadcast deal with TBS to air an eight-episode series in January 2023, according to White.This introductory series will give birth to a rankings system across numerous weight classes.From there, Power Slap fighters in each weight class will begin vying for the Power Slap championship belt.Events will take place at the UFC Apex in Las Vegas.

Nevada commission made Power Slap execs give assurances that there will be no deaths in the controversial new sport

As the world continues to evolve and adapt, so too does the way we <keyword id="6355058" type="General" weightage="20" keywordseo="work" source="Orion">work</keyword>. <keyword id="824043" type="General" weightage="20" keywordseo="business-insider" source="Orion">Business Insider</keyword> India is back with its second edition of The <keyword id="1967222" type="General" weightage="20" keywordseo="future-of-work" source="Orion">Future of Work</keyword> Summit 2023 in Mumbai this Friday, March 17. The conclave aims to explore the latest trends and advancements in the way we work. This year's agenda is focused on several key areas that are transforming the world of work as we know it: technology, cultural intelligence, upskilling and human capital. Let’s get onto what you can expect at the FoW Summit 2023. The future of <keyword id="11018" type="General" weightage="20" keywordseo="jobs" source="Orion">jobs</keyword> is tied in with the technology revolution, upskilling and the ability to find the confluence between work, technology and human experience. The day begins with a keynote address by Maharashtra’s Labour Secretary, Vinita Vaid Singal on the impact of technology on workforce, the need for reskilling and upskilling programmes to ensure that workers are equipped with skill sets to thrive in a changing job market. <h5 style="line-height:1.2;background-color:#ffffff;margin-top:12pt;margin-bottom:12pt;">Final call to <a href="http://businessinsider.in/fow2023">register </a>and be a part of all the action</h5>The rest of the sessions are broadly categorised into four sections - <ul><li>Enhancing Human Capital: The need for policies to align employee growth and business strategies to ensure that both workforce and business can thrive. -Nitin Sethi, CEO, Aon Consulting, India &amp; South Asia -Naiyya Saggi, Co-Founder, Good Glamm Group -Karan Virwani, CEO, WeWorkIndia </li><li>Technology: The future of work and technology and the tools driving digital transformation across workplaces over the next decade -Ashok Krish, Global Lead - Digital Workplace, TCS -Sumedha Chakraborty, Country Head, India &amp; SAARC Business, Google Workspace, Google Cloud -Mukesh Jain - CTO, VP &amp; Global Head of Innovation with AI/ML, Insights &amp; Data - Capgemini </li><li>Upskilling and push for Diversity, Equity, Inclusion (DEI): Two cornerstones that HR leaders must focus on to create a productive, diverse workforce that can adapt to changing needs of business. -C Jayakumar, Executive VP &amp; <keyword id="6378374" type="General" weightage="20" keywordseo="chro" source="Orion">CHRO</keyword>, Larsen &amp; Toubro -Harshvendra Soin, Global Chief People Officer and Head Marketing, Tech Mahindra -Ryan Lowe, Partner - People Advisory Services, E&amp;Y -Harish Iyer, Head - DEI, Axis Bank -Ishita Medhekar, CHRO, Metropolis Healthcare -Neha Bagaria, Founder &amp; CEO, JobsForHer </li><li>Culture, Content &amp; Creator Economy that focuses on the future of storytelling in India: How new platforms are revolutionizing the way we consume and tell stories and the opportunities it presents for content creators. -Rohan Joshi, Influencer, Comedian, Co-Founder - All India Bakchod -Advait Gupt, Co-Founder &amp; CEO, Kulfi Collective -Varun Duggirala - Influencer, Podcaster, Entrepreneur -Karishma Mehta, Founder &amp; CEO, Humans of Bombay</li></ul>Co-powered by Google Cloud, the Future of Work Summit 2023 is a confluence of the brightest minds reimagining the new era of work, workplace and workforce. Discover new trends shaping the workplace and learn about the strategies and tools that can help you stay ahead of the curve. Register <a href="http://businessinsider.in/fow2023">now</a>!

Final countdown begins! Here’s your guide to the Future of Work Summit 2023

<ul><li>Payment for <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> CEOs pay had a 20% variable component in 2022-23. </li><li>The long term incentive(LCI) component has increased to 40% of the total <keyword id="6356362" type="General" weightage="20" keywordseo="compensation" source="Orion">compensation</keyword> up from 26% in 2015-16. </li><li>For board and senior managerial positions, one in three organizations are focusing on improving the diversity levels</li></ul>Top executives in India will see their salaries rise by 9.1% on an average in 2023, as per an Executive Rewards Survey by <keyword id="240071" type="General" weightage="20" keywordseo="AON" source="Orion">AON</keyword>. Findings of the Executive Rewards Survey in India which analyzed data from 519 companies and more than 25 industries projects a 9.1% average <keyword id="10876" type="General" weightage="20" keywordseo="salary" source="Orion">salary</keyword> increase for senior executives in India in 2023. The average CEO compensation is ₹8.4 crore and has increased 21% in the last four years. It rose 5.1%, 7.9% and 9.7% in 2020, 2021 and 2022, respectively. Chief Financial Officer is the highest-paid CXO role, barring CEOs, amongst the BSE 100 companies. CFO is the highest paid CXO role, the salary being double of the CTO which is the second highest paid role amongst BSE 100 companies. Senior executives’ salary increases continue to focus on pay at risk, indicating the emphasis on rewarding executives for the value they bring to the organization. Payment for India CEOs pay had a 20% variable component in 2022-23, while in the US it was 23%. Meanwhile the long term incentive (LCI) component has increased to 40 per cent of the total compensation up from 26% in 2015-16. The study also found that among the top 30 companies in the Bombay Stock Exchange, LTI was provided at 176% of fixed pay for CEOs while it was at 103% for other C level executives like COO, CFO, sales leader and chief human resources officer. The average LTI amount for CEOs for the same set organizations is ₹10 crore. For board and senior managerial positions, one in three organizations are focusing on improving the diversity levels. Boards are embedding environmental, social and governance (ESG) factors, diversity and succession metrics in the long-term and short-term goals for CEOs and executive leaders. However, it was found that 60% of companies don’t measure employee attitudes on ESG initiatives. “In a rapidly evolving, volatile business environment, organizations seek to adopt executive pay programmes that drive the right behaviours, are cost effective and contribute to longterm business results. Organizations can therefore benefit from a data-driven approach to make better decisions regarding complex executive compensation issues while navigating business volatility,” said Nitin Sethi, CEO- Human Capital Solutions, India and South Asia at Aon. Compensation, and its related governance, continues to be an important issue for employers as they strive to build and maintain a resilient workforce. Pritish Gandhi, director and practice leader of the Executive Compensation and Governance Practice in India at Aon, says, “With rising shareholder activism, pay governance has become a key focus area for India Inc. As a result, organizations are updating their Malus clauses which refers to additional checks before vesting of long-term executive incentives – particularly in cases of material financial restatement.” At the same time, claw back clauses which allow organizations to retrieve past pay-outs under exigent circumstances of fraud and misconduct are also being applied for a duration of three to five years, as organizations design their 2023 executive compensation programmes. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/bajaj-finserv-posts-42-growth-in-q3-net-profit-to-1782-crore/articleshow/97441295.cms">Bajaj Finserv posts 42% growth in Q3 net profit to ₹1,782 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/weight-loss-startup-gets-slammed-on-shark-tank-india/articleshow/97440541.cms">SAS Fat to Slim: ‘Dangerous &amp; gimmicky’ weight-loss startup gets slammed on Shark Tank India</a>

Finance over tech: Salaries of CFOs double that of CTOs says AON survey

India Inc is likely to provide a <keyword id="6355281" type="UNKNOWN" weightage="20" keywordseo="Salary-hike">salary hike</keyword> of 7.7 per cent in 2021, indicating a strong economic recovery, said a survey on Tuesday. The study by <keyword id="3835901" type="PERSON" weightage="20" keywordseo="Global-professional-services">global professional services</keyword> firm Aon analysed data across 1,200 companies from more than 20 industries. About 88 percent of the surveyed companies reported that they intend to increase salaries in 2021, reflecting positive business sentiment. "We expect the increment dynamics for 2021 to play out over a longer period of time given the uncertainty and potential impact of forthcoming changes," Nitin Sethi, Partner and CEO of Aon's performance and rewards business in India, said in a statement. Despite a tough 2020 with stringent lockdowns, India continues to project the highest salary increases among the BRIC (Brazil, Russia, India, China,) nations, said the report. The highest-paying sectors in 2021 continue to be the ones from <keyword id="1799114" type="PERSON" weightage="20" keywordseo="last-year">last year</keyword> - information technology, information technology enabled services, <keyword id="78687" type="DOMAIN" weightage="20" keywordseo="Life-Sciences">life sciences</keyword>, e-commerce and fast-moving consumer goods, according to Roopank Chaudhary, Partner in Aon's Human Capital Business in India. "It's notable that the sectors that were adversely impacted by Covid-19, such as retail, hospitality and real estate, are projecting healthy increases in the range of 5-6 per cent. Such numbers reflect their intent to stay relevant and to control attrition, which had increased for these industries last year." However, it is also possible that some of the salary increments may not translate into higher cash-in-hand for employees if organisations choose to pay higher provident fund contributions on the new definition of wages, Sethi said. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/indian-startup-founders-are-wary-of-chinese-investors-prioritise-follow-up-funding-over-term-sheet-conditions/articleshow/81166682.cms">Indian startup founders are wary of Chinese investors, prioritise follow-up funding over term sheet conditions</a> <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambani-says-he-will-make-batteries-ahead-of-a-boom-in-electric-vehicles/articleshow/81166590.cms">Mukesh Ambani says he will make batteries ahead of a boom in electric vehicles⁠</a> <a href="https://www.businessinsider.in/business/startups/news/sachin-tendulkar-picks-up-a-strategic-stake-in-edtech-unicorn-unacademy-will-also-develop-a-sports-learning-category-on-the-platform/articleshow/81166377.cms">Sachin Tendulkar picks up a strategic stake in edtech unicorn Unacademy – will also develop a sports learning category on the platform</a> <a href="https://www.businessinsider.in/stock-market/news/heranba-industries-ipo-is-off-to-a-decent-start-heres-why-investment-experts-and-retail-investors-are-excited/articleshow/81169631.cms">Heranba Industries IPO is off to a decent start — Here’s why investment experts and retail investors are excited</a>

Indian firms may provide 7.7% salary hike in 2021, says survey

At the onset of the pandemic, in what was an unprecedented shift, <keyword id="123591" type="General" weightage="20" keywordseo="work-from-home" source="Orion">work from home</keyword> turned out to be the norm rather than the anomaly. While companies have benefitted from reduced costs, employees too have become habitual of working from home. However, at the same time, increasing vaccination coverage has made the likelihood of the economy opening brighter. There are also real concerns of data security and compliance, talent management and maintenance of company culture looming over corporations, which are pulling them away from the prospect of making work entirely remote even when it is possible. Currently, tech behemoths such as Infosys, <keyword id="6354427" type="General" weightage="20" keywordseo="apple" source="Orion">Apple</keyword> and <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword> are planning to open their offices in varying capacities in the future. This has been made possible by ensuring employee vaccination, and taking direct feedback from them. NASSCOM has fully adopted the hybrid work model by following all COVID 19 protocols such as limited office occupancy, better ventilation, social distancing, etc. HCL Tech has moved one step further by provisioning on-campus vaccination for the employees and their families. While there is no consensus on the optimal mix of home vs. office, companies will have to decide the contours of a hybrid model based on factors like client requirements, cost of real estate, and the strength of their data and information security systems. Chief Human Resource Officers from some of India’s top companies ⁠— from Marico to Piramal Group and Tech Mahindra to CRISIL ⁠— will be exchanging experiences from the last 18 months and their ideas for the road ahead, at Business Insider’s <keyword id="1967222" type="General" weightage="20" keywordseo="Future-of-Work" source="Orion">Future of Work</keyword> Summit Top executives such as Nitin Sethi, chief executive officer for human solutions at AON in India and South Asia, and Dan Schawbel, the founder of Workplace Intelligence, will share insights on how to build a collaborative work environment, and how technology can drive digital transformations for the new normal. In order to re-define business-as-usual to include hybrid working with minimal disruption, companies might need to lead through empathy, and implement the<a href="https://www.businessinsider.in/careers/news/technology-is-changing-organisations-and-culture-has-to-keep-pace-with-it/articleshow/85854902.cms"> people before strategy</a> approach in the workspace in the coming decade. New opportunities for innovation would also open up with the digital infrastructure that supports the constant upgrades in technology. The challenge is to be conscious of the advancements in artificial intelligence and machine learning while using the energy of a new generation of tech savvy millennials adequately. The future of work is unravelling in front of you. Empower yourself with information and insights to deal with it. Be part of Business Insider’s Future of Work Summit 2021 on September 16 and 17. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/jet-airways-to-soon-start-its-domestic-flights-soon-after-march-2022/articleshow/86159868.cms">Jet Airways may start domestic flights after March 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/education/news/many-private-schools-in-india-are-on-the-brink-of-bankruptcy-and-fear-that-a-third-wave-of-covid-19-could-be-their-end/articleshow/86159621.cms">EXCLUSIVE: Many private schools in India are on the brink of bankruptcy and fear that a third wave of COVID-19 could be their end</a>

As TCS, Wipro and Apple prepare to bring people back to work, there are many lessons from the last 18 months to consider

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.gettyimages.co.uk/detail/news-photo/the-doctor-interacts-with-nate-diaz-between-rounds-of-his-news-photo/1185157092">Photo by Josh Hedges/Zuffa LLC via Getty Images</a>Dr. Nitin K. Sethi talking to Nate Diaz.</div></div></div><ul class="summary-list"><li>A UFC doctor has been threatened and called "f---ing scum" for calling an end to Jorge Masvidal and Nate Diaz's fight on Saturday.</li><li>Masvidal beat Diaz to a bloody pulp, dominating the fight from rounds one to three before Dr. Nitin K. Sethi advised the referee to end the bout before round four.</li><li>Sethi has said he now fears for his health and safety.</li><li>"Somebody's going to get hurt, and it's probably going to be me this time," <a href="https://www.mmafighting.com/2019/11/4/20948548/ufc-244-doctor-faces-threats-online-harassment-after-controversial-main-event-call" target="_blank" rel="noopener">he told MMA Fighting</a>.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet" target="_blank" rel="noopener">Visit Business Insider's homepage for more stories</a>.</li></ul>The doctor who ended Jorge Masvidal and Nate Diaz's fight says he fears for his life after receiving threats from furious fans.Masvidal beat Diaz after three rounds at the UFC 244 event at Madison Square Garden in New York City on Saturday night after Dr. Nitin K. Sethi deemed Diaz unfit to continue because of deep cuts to his face.The crowd booed the result, and Masvidal, the winner, even said in a post-fight interview that they could "run it back" - he was eager to rematch Diaz.<a href="https://www.mmafighting.com/2019/11/4/20948548/ufc-244-doctor-faces-threats-online-harassment-after-controversial-main-event-call" target="_blank" rel="noopener">Sethi told MMA Fighting</a> that he had been called "f---ing scum" in the aftermath and that fight fans had even called his office to protest his decision and threaten him."I'm a very good neurologist and a very good doctor," he said. "Calling me f---ing scum online and calling my office staff and yelling at them, threatening me, I fear for my health and safety."Somebody's going to get hurt, and it's probably going to be me this time."UFC's president, Dana White, <a href="https://www.businessinsider.com/dana-white-masvidal-dominated-diaz-no-need-for-immediate-rematch-2019-11?r=US&amp;IR=T" target="_blank" rel="noopener">said after the fight that there would be no immediate rematch</a> as Masvidal had greater options in his near future and Diaz needed time to recover and come back.But Sethi is still living with the decision, one he said he took because of imminent concern to Diaz's health and safety. Diaz was dominated by Masvidal, losing each round in the three-round battle including a lopsided 10-8 score in the second round.<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.gettyimages.co.uk/detail/news-photo/nate-diaz-of-the-united-states-fights-against-jorge-news-photo/1185161205">Photo by Steven Ryan/Getty Images</a>A large flap of Diaz's brow hung over his right eye.</div></div></div>"I made an objective call based on my assessment of the fighter," he told MMA Fighting. "Not just the cut, but the overall assessment of the fighter [and] how the fight was going. Once I felt I could not guarantee the health and safety going forward, I had to make a tough call."Sethi said the abuse began before he had even left the arena, with people in what he described as a "very, very charged crowd" yelling "f--- this, f--- that."He added that he hoped the backlash he had endured did not prevent doctors hired by state commissions from being able to make tough decisions in the interest of fighter safety going forward."The only thing sad about this will be you'll have doctors who will now be very afraid to make calls," he said. "And when people are scared to make calls because they're so afraid of the repercussions, I think we're entering dangerous territory."<ul class="read-more-links"><li>Read more</li><li><a href="https://www.businessinsider.com/jorge-masvidal-donald-trump-is-a-bad-mother-2019-11?r=US&amp;IR=T" target="_blank" rel="noopener">Jorge Masvidal called Trump a 'bad motherf---er,' and the president responded by saying, 'Great fight, champ!'</a></li><li><a href="https://www.businessinsider.com/dana-white-masvidal-dominated-diaz-no-need-for-immediate-rematch-2019-11?r=US&amp;IR=T" target="_blank" rel="noopener">UFC boss Dana White says there won't be an immediate rematch between Masvidal and Nate Diaz because Jorge was so dominant</a></li><li><a href="https://www.businessinsider.com/jorge-masvidal-ate-pizza-and-called-conor-mcgregor-a-midget-2019-11?r=US&amp;IR=T" target="_blank" rel="noopener">Jorge Masvidal drank liquor, ate pizza, and dissed Conor McGregor in his post-fight press conference after dominating Nate Diaz</a></li><li><a href="https://www.businessinsider.com/jorge-masvidal-beat-nate-diaz-celebrates-with-the-rock-2019-11?r=US&amp;IR=T" target="_blank" rel="noopener">Jorge Masvidal opens Nate Diaz up with bloody cuts, wins 'baddest motherf---er' title, then celebrates with The Rock</a></li><li><a href="https://www.businessinsider.com/video-canelo-alvarez-sent-sergey-kovalev-crashing-through-the-ropes-2019-11?r=US&amp;IR=T" target="_blank" rel="noopener">Saul 'Canelo' Alvarez hit Sergey Kovalev with a knockout punch so hard that the Russian collapsed through the ropes</a></li><li><a href="https://www.businessinsider.com/kevin-lee-kick-knockout-gregor-gillespie-ufc-224-video-2019-11?r=US&amp;IR=T" target="_blank" rel="noopener">A 27-year-old American's head kick was so powerful that it left his opponent stiff and unconscious before he hit the floor at UFC 244</a></li></ul> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/world-famous-sports-logos-hidden-messages-2019-10">10 world-famous sports logos with hidden meanings</a></h3> <div> </div> </div>

The doctor who ended Jorge Masvidal and Nate Diaz's fight after 3 rounds is fearing for his life after receiving threats from furious fans

It seems <a href="http://www.businessinsider.in/LeEcos-Big-Five-offers-for-Flipkarts-Big-Shopping-Days-Earphones-Cashback-Exchange-Offer-Supertainment-and-much-more-await-/articleshow/52422055.cms">Flipkart’s</a> organisation redesign decision is costing <a href="http://www.businessinsider.in/5-things-that-went-wrong-with-Flipkart-and-Snapdeal/articleshow/52122723.cms">India’s largest e-commerce company </a>heavily. This is because as a part of the ongoing process, it has also completely restructured its campus hiring process and thereby, deferred the joining dates of the fresh IIM batch it recruited recently by 6 months. 
 
The decision has not gone down too well with IIM-Ahmedabad leading to the two locking horns over the issue. 
 
In a recent mail from the office of IIM-Ahmedabad’s chairperson to <a href="http://www.businessinsider.in/Tiger-global-reduced-Amazon-stake/articleshow/52308087.cms">Flipkart co-founder Binny Bansal </a>and human resources head Nitin Sethi , the institute has used rather tough words to express their displeasure <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>’s decision. The mail reads: 
 
“Our students hired by Flipkart rejected multiple opportunities that the campus had to offer and chose Flipkart over other well-reputed recruiters because of the strength of its brand.” 
 
"The decision to defer the date of joining, coming as it does so close to the earlier promised date of June 2016, is sure to make this talent pool regret their decision of joining your company. Talented students fresh out of campus, on the eve of starting successful careers, now feel cheated. While we understand that restructuring calls for tough decisions in an organization, the matter of campus hiring could have been handled much better, with campuses forewarned well in advance and engaged as partners in this decision-making.” 
 
“The compensation of Rs 1.5 lakh being offered is utterly unacceptable. Compensation should be in the form of a monthly payment starting June and not as a lump sum as joining bonus or arrears.” 
 
The delay in the joining dates should be shortened, the letter says, and the company must give a written commitment that candidates will have a job when the joining date is finalized. 
 
“Rude shocks due to unilateral decision-making does little to help strengthen relationships with the campus. Future engagement of Flipkart with B-school campuses is bound to get affected as a relationship based on mistrust and lack of transparency can never be mutually beneficial," the letter further reads. 
 
Meanwhile, Flipkart’s recent announcement, that led to this entire explosion, read: “We have re-designed our campus program in order to align that with our new business focus and provide meaningful opportunities to our campus hires. As part of this re-design, we are looking at a decentralized program that takes into account specific business needs as per the business unit. As part of the redesign process, we will be postponing the joining of the new recruits by a few months. This postponement was necessitated by the fact that Flipkart is undergoing an organization redesign that involves creation of new units in some cases and integration of a few units. Instead of June 2016, the new recruits will now be part of the improved campus program in December 2016. Flipkart will also be paying an additional joining bonus of Rs.1.5 lakh to all campus recruits.” 
 
The explosive mail that the company has now received has also been marked to several other IIMs. 
 
“Yes, we have been copied. As far as a decision is concerned, we are still talking to students as to what they would want to do in this situation. If they want to look for alternatives or stick to the offer. It’s only after we are done talking to the students that we shall take a collective decision in this matter,” said Sapna Agarwal, Head CDS at IIM Bangalore. 
 
Meanwhile, Flipkart reportedly has responded to the institute confirming it will absorb all the students it has hired by December. However, the company has refused to increase the compensation as demanded by the college.

Read
the Curt email IIM-A sent Flipkart about bad hiring policies

Over the past six months, several <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword> have been on laying off spree with a strong push from investors to reduce burn rates and show business results. 
 
There is a clear demand for business models to evolve, to be more profitable, and to adapt to fast changing and ever demanding customer expectations. This, combined with the pace of technological advancements, has made it critical for companies to systematically build their organization’s capability by changing rotting codes, periodic review of market strategies, scaling hiring and ensuring right staffing. 
 
In the eye of the storm 
 
Often, startup founders have stressed upon the need and importance to have the right people. In the midst of fierce war for talent, startups are competing with large technology companies for literally same pool of human capital. While large corporates hire based on meritocracy and qualifications, startups are on a look out for talent, who along with merit possess qualities such as managing ambiguity, agility, spontaneity and innovation. Given the constant tussle between hiring talent that is aligned to organizational culture versus talent that is more meritorious in existing structures, the demand has surely outstripped the supply. 
 
Even the best talent in the existing market might not prove to be the right fit for the startup culture. Therefore, the need to always know how potential employees are likely to respond in ambiguous situations will help startups get better insights on potential talent, especially at senior levels. 
 
The Art of Pausing 
 
To refrain from creating an identity that is synonymous with firing, startups must pause and reflect on developing a recruiting culture that enables them to hire the right talent for the right role. Startups must focus on the opportunities and work experience that it offers to create a strong employer brand. In addition, also state clearly and upfront what it takes to work in a setup. Such an approach would anchor hiring of talent that is best fit for the organization. 
 
Establish a Cadence 
 
The mantra for success lies in developing a cadence, where founders need to put on their thinking hats and craft innovative hiring techniques to anchor the next evolution of HR as a true business partner. A way for startup organizations to build is by providing ample learning opportunities. Founders must put extra emphasis on creating and justifying the employee promise, by not only giving the opportunity to grow vertically, but also laterally across the organization. 
 
At the same time, startups must deploy mechanisms that reward superior contributions and capability suitably. Performance management systems must be developed to answer and equally emphasize on the question of “how” and not only “how much?” 
 
Plan the Exit 
 
Despite all this there will be situations when organizations need to take the tough call of asking someone to leave. There must be a defined exit strategy put into place before it is done. Lest it leads to a situation similar to the one that occurred recently at a startup office, when angry employees resorted to arm-twisting strategies against the founders for not paying their severance packages. Even if the much dreaded route needs to be taken, organizations must be sensitive enough to give a prior notice to its employees and resort to monetary compensations and any other assistance that fits the bill. 
 
The bottom line being –startups must create a diligent recruiting culture and sustain it by innovating on all stages of the employee cycle. 
 
(The article is authored by Nitin Sethi, Partner, Aon Hewitt and Aakriti Ahuja, Associate Consultant, Aon Hewitt) 
 
(Image: Thinkstock)

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