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Imagine a bustling jewellery market teeming with diamonds and gold. Amidst this glittering chaos, a small stall is trying to sell handcrafted gemstones. Even as newer and shinier outlets keep cropping up, all vying for attention, this gemstone store offers some of the oldest yet valuable jewels at a discount. Though they lack immediate sparkle, these rare gems reveal their value to the discerning buyer. This is how South Korea appears for many experts in global capital markets: a trove of undervalued gems, overshadowed by brighter, more aggressively marketed investment options. This undervaluation, known as the "<keyword id="24399183" type="General" weightage="20" keywordseo="korean-discount" source="keywords">Korean Discount</keyword>," reflects how South Korean companies are priced much lower than their global peers despite robust fundamentals — strong financial performance and consistent profitability. Contributing factors are many, ranging from opaque governance structures to geopolitical risks. But the fact stays, if you are a seasoned conglomerate listed in South Korea, you are likely undervalued. <keyword id="19906087" type="General" weightage="20" keywordseo="hyundai" source="keywords">Hyundai</keyword> Motor India Ltd. (HMIL), a subsidiary of the Korean giant Hyundai Motor Company (HMC), recently sought to escape this valuation trap by listing in India, a market where investor optimism commands premium pricing. But its valuation raised many eyebrows! Now that a month and a half has gone by since its listing, time is apt to examine if this gamble paid off. Will <keyword id="93460" type="General" weightage="100" keywordseo="hyundai-india" source="Orion">Hyundai India</keyword> justify its high valuation? Or does the listing highlight broader questions about the overheated valuation dynamics of Indian markets? A record-breaking <keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword> but questions remain Hyundai Motor India’s mega Initial Public Offering (IPO), launched in October 2024, broke records by raising ₹27,870 crore, making it India’s largest-ever IPO. The offer was oversubscribed by 2.37 times, highlighting robust demand. But many investors remained sceptical: was this IPO an honest attempt to expand Hyundai’s footprint in India or was it trying to offer a way to cashout for existing investors and promoters? Or perhaps, is it an attempt by the Korean chaebol — a large family-owned business conglomerate — to break free from the aforementioned “Korean Discount”? When shares listed on October 22, these concerns seemingly weighed on the minds of most investors and the stock promptly dipped 5% below the issue price on the day. A tepid grey market performance had already foreshadowed this muted debut in the Indian markets. Now, after almost 35 trading sessions on Indian market, the stock remains almost exactly at price it listed on October 22 at Rs 1820—no gain, no loss. <h3>The gamble of hyper-valuation</h3>Much of this hesitation stemmed from Hyundai’s valuation. On listing, Hyundai was valued at $18 billion, positioning it as one of India’s most valuable automotive companies. However, such high valuations often temper investor enthusiasm, resulting in more cautious short-term outcomes. For most investors, the Price-to-Earnings (P/E) ratio is the most preferred parameter to gauge if a company is overvalued or undervalued. With a P/E ratio of 26.3, HMIL was priced significantly above the Indian automotive industry average of 24.4. Globally, automotive companies operate with much lower P/E ratios, reflecting mature market conditions and slower growth trajectories. HMIL’s South Korean parent Hyundai Motor Company (HMC) trades at a meagre 3.07, believe it or not! For Indian investors, the high premium hinted at overvaluation despite Hyundai’s strong domestic position. Such stark difference in valuation obviously sparked debates — is the Indian market assigning a premium to Hyundai Motor India’s growth potential, or is it simply reflecting the general exuberance around the prospects of the Indian economy? Another concern is the allocation of IPO proceeds. Hyundai’s IPO was structured as an offer for sale (OFS), meaning all funds raised would flow to the parent company rather than Hyundai India’s operations. Although Hyundai has committed to investing in R&amp;D for EVs and hybrids, critics argue that the lack of immediate reinvestment in India’s operations reflects a missed opportunity for domestic growth. Despite the early disappointment, Hyundai was confident that the valuation was fair. It did have some factors going for it, in addition to the fact that other auto giants like Mahindra &amp; Mahindra and <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword> command even higher P/E ratios. And looking at the company fundamentals, it does seem like Hyundai is playing a long-term game. <h3>Hyundai in India: A proven track record</h3>Despite the initial stumble, Hyundai India’s long-term story is compelling. Since entering the Indian market in 1996, the automaker has sold over 8 million vehicles and firmly occupies the second spot in the domestic passenger vehicle market, trailing only Maruti Suzuki. Hyundai’s blockbuster SUV offerings, like the Creta and Venue, have been critical in building this dominance. Despite some challenge from Maruti Suzuki Brezza and Tata Punch, Creta has retained the tag of ‘most-selling SUV in India’ successfully so far this year. <div type="image" title="Hyundai" agency="Business Insider India" msid="116156234" hostid="261" caption="&amp;lt;p&amp;gt;Selling over 17,000 units per month on average this year, Creta has edged past major competitors to be the most-selling SUV in India in 2024. As Indian consumers preference continues to shift gradually towards premium products over budget segments, Hyundai stands to benefit (Wikimedia Commons / Canva)&amp;lt;/p&amp;gt;"></div> Selling over 17,000 units per month on average, Creta has edged past major competitors to be the most-selling SUV in India in 2024. As Indian consumers preference continues to shift gradually towards premium products over budget segments, Hyundai stands to benefit (Wikimedia Commons / Canva) Hyundai India’s market share of 14% in October 2024 underscores its clout. The company’s ability to tap into India’s premiumisation trend, where consumers increasingly prefer high-end vehicles, positions it well for growth. With plans to expand in electric vehicles (EVs) and hybrid technology, Hyundai is poised to capitalise on both domestic demand and export opportunities. The company’s ability to capitalize on its strong brand, extensive dealer network, and leadership in segments like SUVs and exports will determine its future performance. Hyundai’s strategic focus on expanding electric vehicle production also aligns with global trends towards sustainability, potentially positioning it as a leader in the segment. By listing in India, Hyundai aims not only to expand its operations but also to make India a global manufacturing and export hub for its products, especially SUVs and EVs. Therefore, despite early setbacks, Hyundai’s gamble seems to have paid off. The stock has rebounded, gaining 5% in the past month. More good news came in this week, as positive projections from Morgan Stanley and JPMorgan forecast an impressive 17-28% upside for the stock over the next year, reflecting growing investor optimism. <h3>A strategic pivot from the Korean Discount?</h3>The Korean Discount has long plagued South Korea’s chaebols, including Hyundai. Experts attribute this to several factors: <ul> <li>Chaebol Governance: South Korea’s conglomerates, known as chaebols, are often criticised for opaque governance structures and excessive family control.</li> <li>Geopolitical Risks: Tensions with North Korea contribute to investor caution, adding a layer of perceived risk.</li> <li>Limited Domestic Liquidity: South Korea’s relatively small investor base can constrain market activity and valuation potential.</li> </ul> By listing in India, Hyundai sought to unlock better valuations for its subsidiary, leveraging the optimism of Indian markets. India’s stock market has a trailing P/E ratio of 24.4, far above South Korea’s Kospi average of 16-17. The Indian market’s appetite for high-growth stories provides a fertile ground for companies like Hyundai to escape the valuation constraints of their home market. A successful IPO could encourage other such conglomerates to follow suit, setting a precedent. While Hyundai India has a robust track record, its future success hinges on navigating key challenges: <ul> <li>Supply Chain Vulnerabilities: Hyundai relies heavily on its Chennai plant, making it vulnerable to disruptions.</li> <li>Intensifying Competition: Domestic rivals like <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword> and MG Motors are making aggressive inroads into the EV market.</li> <li>Policy Risks: The automotive sector’s reliance on government incentives for EVs and hybrids adds a layer of unpredictability.</li> </ul> High valuations come with risks. Hyundai will need to prove that it can sustain its growth trajectory in India, fend off competition from established players like Maruti Suzuki and Tata Motors, and navigate challenges such as supply chain disruptions and regulatory hurdles. If Hyundai successfully capitalises on its strong brand and market leadership, it could not only redefine its value but also serve as a case study for other Korean companies seeking better recognition and valuations in global markets. <h3>Is Hyundai saga a reflection of overheated Indian markets?</h3>The bigger question here is, does Hyundai’s IPO highlights a broader narrative about Indian markets’ premium valuations? With a trailing P/E ratio of 24.4, Nifty 50 index is among the highest in emerging markets. India’s stock markets consistently command a premium due to robust retail participation, strong economic growth prospects, and a burgeoning middle class. While this premium reflects optimism about India’s long-term growth story, it also signals potential risks of overvaluation, particularly in sectors like technology, automotive, and consumer goods. With a record ₹94,017 crore outflow by Foreign Portfolio Investors (FPIs) in October 2024, concerns about overheated valuations are mounting. Sustaining such unprecedented valuations required companies to consistently perform above global averages, and retaining robust earnings growth quarter after quarter remains a challenge in today’s uncertain world. For Hyundai, the high valuation is both an opportunity and a risk. While it underscores investor confidence, it narrows the margin of safety, making the stock vulnerable to corrections during economic downturns. Take for example, the high-profile IPO of Life Insurance Corporation of India (LIC) that raised over ₹21,000 crore. Its listing was met with disappointment as the stock began trading at a 9% discount to its issue price, and subsequent performance has remained subdued. LIC’s post-IPO journey also highlights how inflated valuations can lead to long-term underperformance, as the stock gave only 12% return over the past 30 months when even the Nifty 50 index went up by over 44%. This happens when when the company's growth narrative fails to align with its pricing. Despite being a household name with a dominant market share, LIC's stock has struggled to meet expectations, partly due to concerns about its operating efficiency and the limited use of IPO proceeds for growth initiatives. Make no mistake, Hyundai Motor India’s IPO is a landmark event! It showcases the potential for Korean companies to leverage emerging markets like India for better valuations. It also shows that strong fundamentals can help justify a company such premium valuations even amidst bearish economic prospects. However, it also serves as a cautionary tale about the risks of overvaluation. For Hyundai, the next steps involve proving its long-term growth story, navigating competitive challenges, and maintaining investor confidence. For Indian markets, Hyundai’s IPO underscores the need to balance optimism with realistic expectations as they continue to evolve as global investment hotspots. To sustain the country’s economic narrative as a land of unmatched opportunities, corporate India must work on improving long-term fundamentals and mitigating long-term risks. As global investors watch closely, Hyundai India’s success or failure could shape how international companies view India as a listing destination in the years to come.

Tackling the 'Korean Discount': A deep dive into curious case of Hyundai Motor India's market listing

<ul class="summary-list"><li><a target="_blank" class="" href="https://www.businessinsider.com/resume-gap-how-to-explain-why-job-search-career-linkedin-2024-8">LinkedIn</a> has seen a 29% increase this year in users who list their preferred pronouns.</li><li>The platform added a pronoun feature in March 2021, reflecting societal gender shifts.</li></ul>Detractors might consider it woke, but more professionals are including their <a target="_blank" href="https://www.businessinsider.com/how-to-respect-peoples-pronouns-and-why-its-important-2020-10">preferred pronouns</a> on their LinkedIn profiles.Globally, some 38 million people on the platform now list their pronouns on their profiles, a 29% increase since January, a LinkedIn spokesperson told Business Insider.LinkedIn added space for users to include their preferred pronouns in their profiles in March 2021. The spokesperson said that, since then, the platform has seen a "steady uptick" in adoption.Growth in the number of people who display their pronouns comes as some employers are downplaying or retreating from their embrace of diversity, equity, and inclusion efforts. Big-name companies, including <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://apnews.com/article/lowes-dei-robby-starbuck-conservative-522fef16cf0dc77450524542d21016ef">Lowe's</a>, <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.businessinsider.com/john-deere-ditches-dei-policies-conservative-activists-lgbtq-pride-pronoun-2024-7">John Deere</a>, and <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.businessinsider.com/companies-cutting-dei-activist-backlash-harley-davidson-deere-tractor-supply-2024-8">Harley-Davidson</a>, have reduced or scrapped their DEI efforts following criticism from a conservative activist.To some degree, the increased use of preferred pronouns on LinkedIn signals that the practice is becoming an unremarkable part of office life, researchers who have written about gender issues told BI.The pronoun proliferation on LinkedIn, which has some 1 billion users, comes as it's become more common to include such information in email signatures and on business cards. Displaying pronouns has also remained a <a target="_blank" href="https://www.businessinsider.com/elon-musk-scott-kelly-nasa-astronaut-lgbtq-gender-pronouns-fauci-2022-12?utm_campaign=sf-bi-main&amp;utm_source=facebook.com&amp;utm_medium=social">political flash point</a>.<h2 id="5e601c64-2d3d-42a3-b416-ded1bbd06343">An easy decision for some</h2>Michael West, who works on issues of public health and social policy in Australia, wrote in a recent LinkedIn post about <a target="_blank" href="https://www.linkedin.com/posts/michael-west-000a9126_pronouns-small-words-that-make-a-big-impact-activity-7252113124353351681-6SMM/?utm_source=share&amp;utm_medium=member_desktop">using he/they pronouns</a>."Articulating my pronouns publicly also creates space for others to reflect on, discuss and consider what feels best for them," West wrote. He went on to add that "stating your pronouns is a small but powerful action that can make a significant positive difference to many other people."A survey conducted on behalf of LinkedIn around the time the platform added the pronoun feature found that 70% of job seekers believed it was important that recruiters and hiring managers <a target="_blank" href="https://news.linkedin.com/2021/march/linkedin-and-microsoft-skills-commitment">knew their gender pronouns</a>. Seventy-two percent of hiring managers agreed.The online survey, conducted in late February and early March 2021, involved about 2,100 adult job seekers in the US and some 1,000 hiring managers.<h2 id="8bf37a6e-b92b-4fb9-bec0-0b405596210f">A tool for efficiency</h2>Kathryn Bond Stockton, a distinguished professor of English at the University of Utah, told BI that even for people who might identify as nonbinary, trans, or genderqueer, pronouns aren't an ideology or "an identity in and of themselves."Instead, she said, many people have come to view preferred pronouns in workplace settings as a navigational tool."A lot of people are now seeing the acts of listing and respecting pronouns in that light — as a type of kind, efficient way to refer to each other instead of having people have to ask that question," Stockton said.She said that having to specify them in professional settings should remain optional and not something prescribed by employers. However, respecting what people do specify should be required, she said. Stockton identifies as genderqueer yet said that, in her case, she doesn't care what pronouns others use to describe her."They're all equally right or wrong for my life trajectory. So, you know, have at it," Stockton said. She said that because most people, understandably, have strong feelings about their pronouns, others should respect that.Stockton added that many of us already use "they" in a singular way colloquially, so it's not as difficult to use alternate pronouns for others as some people might fear.She said that in her experience, the people most likely to protest the rise of people sharing their preferred pronouns would "potentially feel the most offended if their pronoun was not respected."Ultimately, Stockton said that in the workplace or other settings, if people don't want to specify their own pronouns, that should be respected, too.The overall reaction to the pronoun feature has been positive, LinkedIn's spokesperson said. The spokesperson said the platform wasn't able to share insights at this time on industries, geographies, and other characteristics where users tend to display their preferred pronouns most often.Minjae Ormes, VP of marketing at LinkedIn, wrote in a <a target="_blank" class="" href="https://www.linkedin.com/blog/member/career/redefining-what-it-means-to-be-professional">2021 post</a> that a person's profile is "more than just a career highlight reel."Ormes added that letting users add their preferred pronouns "is another form of self-identity and -expression that plays a fundamental role in acknowledging and celebrating what makes us strong together."<h2 id="d2bca7c9-cc7d-42aa-8f61-489344f2beae">We don't always use pronouns</h2>Davina Cooper, a research professor in law and political theory at King's College London, told BI that the increase in the number of people posting their <a target="_blank" class="" href="https://blogs.lse.ac.uk/gender/2023/01/30/4784/">preferred pronouns</a> on a platform like LinkedIn or in email signatures partly reflects societal shifts toward recognizing diverse gender identities.Cooper, who said she doesn't indicate preferred pronouns, said that for some people sharing their pronouns can signal support for marginalized groups.Yet, in practical terms, listing pronouns might not have that much of an impact in something like an email correspondence, she said. That's because if she's writing to someone, she's not going to address the person in the third person."So, in a lot of contexts, it is more about someone saying something about where they're situated within a debate," Cooper said. "When they say 'she/they,' they're communicating a political commitment, including one of solidarity."She said she respects the importance of people "feeling recognized" and the value of developments that shift traditional understandings of gender. "This allows societies to evolve and to have shared conversations about what gender should be about," Cooper said.She said that, ultimately, while some people find comfort in sharing their preferred pronouns, what that says about a person might be limited."At a certain point, is it just like knowing someone's name?" Cooper said. "It's, 'I'm John,' but what it means for me to be John you can't apply to anyone else."

LinkedIn has seen an increase in users who list preferred pronouns despite 'woke' backlash

The experience of lying in bed late at night and scrolling through a nearly infinite feed of homes is a modern miracle — not merely because of all the tech packed into your iPhone, but for the simple reason that all those houses are gathered in one place. Open up Zillow, Redfin, or any of their competitors, and you'll have a clear picture of almost all the homes up for grabs around the country.That may be about to change. Real estate's power players are engaged in a bitter standoff over who exactly gets to see the millions of homes listed for sale in the US each year. At the center of the debate are the <a target="_blank" class="" href="https://www.businessinsider.com/real-estate-agents-lawsuits-buy-sell-homes-forever-housing-market-2023-6">multiple-listing services</a>, or MLSes, local databases that gather pictures and details of homes for sale. Almost as soon as a real-estate agent starts touting a home publicly — via an email blast, a post on their website, or a sign in a front yard — they'll throw the listing on the MLS to be fed to other agents and aggregator sites like Zillow. Smart business move? Sure. But agents also don't have a choice, thanks to a rule handed down five years ago by the <a target="_blank" class="" href="https://www.businessinsider.com/lawsuits-verdict-realtors-brokerages-real-estate-agents-home-buying-selling-2023-11">powerful National Association of Realtors</a> called the "clear-cooperation policy," which requires them to list a home on the MLS within one business day of marketing it to the public.Some of the industry's high-profile figures are pushing for the NAR to loosen the rule or get rid of it, which they say would give sellers and their agents more freedom to choose where — and to whom — they advertise their properties. The NAR's top brass are set to consider the change in the coming months.The cynical take is that those in favor of a shake-up — including the leaders of some of the country's largest real-estate brokerages, like Compass and Anywhere Real Estate, the owner of big-name brands like Coldwell Banker and Century 21 — just want to hoard listings on their own websites. As gatekeepers, the thinking goes, they'll be able to lure agents and clients with exclusive access to these properties, growing their businesses and padding their bottom lines. The result would be a more fractured market; instead of going to just Zillow or Realtor.com, a buyer might have to comb through individual brokerages' websites. Agents might be emboldened to share listings among private networks of in-the-know brokers rather than market them to everyone. More homes could trade hands out of view of the average homebuyer."If you were to ask people, 'Should houses be hidden?' most people would say no," Brian Boero, the CEO of 1000Watt, a brand and marketing agency for real-estate companies, told me. "If you asked people, 'Should everybody be able to see the houses that are for sale on the market at any time and have, at least, access to them?' I think most people would say absolutely."It's not quite so cut-and-dried. Opponents of the rule say sellers should be able to market their homes however they see fit, arguing that there are all kinds of reasons someone might not want to list their home on the MLS. And if the goal is a transparent market that prioritizes consumers, the clear-cooperation policy is a flawed tool. It contains a glaring loophole that critics say may have actually pushed more home sales into the shadows.This latest conflict pits Goliath against Goliath, but the stakes are highest for the millions of Davids just trying to put roofs over their heads. The typical buyer wants to see all the homes available, while the typical seller wants a quick sale and a good price. Which kind of housing market will get them there? Both sides claim to know the answer, but their visions for the future of homebuying are miles apart.In the not-so-distant past, MLSes distributed home listings via books — thick, unwieldy tomes that were outdated by the time they made it into a real-estate agent's hands. The introduction of the online MLS around the turn of the century was a revelation, providing a central repository of reliable info on an area's available homes. The system isn't perfect: Access to the MLS is often restricted to licensed agents who pay hundreds of dollars in dues each year to belong to their local, state, and national Realtor associations, on top of MLS fees. Since there are more than 500 local MLSes in the US, an agent might have to pay dues to several of these groups just to see all the homes within an hour's drive of their office. But the databases are still widely considered a model for the rest of the world.While an agent doesn't technically have to participate, the MLS's trove of data is practically a necessity to do the job. And in order to play in the MLS sandbox, you have to follow the MLS rules. About 97% of local MLSes are effectively controlled by the NAR, a trade group with roughly 1.5 million members who pay for the "Realtor" designation and agree to abide by the organization's ethical and professional guidelines. The NAR doesn't own the MLSes directly, but it sets the rules for most of them. Five years ago, the organization's leaders pinpointed a growing problem: Some agents weren't playing fair. They were keeping select listings off the MLS and marketing them on their own websites or among clubby groups of brokers known as private listing networks. The prevalence of so-called pocket listings has always been hard to quantify, but pretty much everyone agrees they were on the rise in the years leading up to the COVID-19 pandemic. Redfin estimated that in the second quarter of 2019, about 1.7% of listings, or some 18,000 homes, were likely pocketed. Those homes were marked "sold" or "pending sale" the same day they were put in the MLS — a sign that the transaction may have already been wrapped up in private. Agents promoting pocket listings might argue that they were acting in the best interests of their clients; a seller going through a messy divorce, for example, may prefer a quiet sales process rather than the fanfare of a public listing. The MLS also displays information that may not be favorable to a seller. It shows the number of days a home has been on the market and keeps track of price cuts, offering buyers leverage points that would never be found on a listing broker's website. There are, of course, self-serving reasons an agent might prefer to advertise a home off the MLS. If they find an unrepresented buyer, they may be able to pocket the portion of the commission that would have otherwise gone to the buyer's agent, upping their haul from the sale to, say, 6% instead of the typical 3%. Belonging to private listing networks could also help drum up business: Work with me, an agent could tell a buyer, and you'll get access to all these listings that Joe Schmo at XYZ Brokerage doesn't even know about. Indeed, Top Agent Network, a destination for high-achieving brokers to share "not-yet-on-MLS properties" with each other, claims on its website that agents can help buyers find their dream homes "by staying ahead of the market."The whole point of the MLS, though, is to have all listings in one place for everyone to find — the system falls apart if agents get to pick and choose which ones to contribute. The NAR's answer to this chaos was the clear-cooperation policy. The rule, which went into effect in May 2020, tightened the screws on agents by requiring them to put a listing on the MLS within one business day of marketing it to the public. For-sale sign in the front yard? Better get it on the MLS pronto. Gush about it on your Facebook page? Clock's ticking. Teasing homes in a private listing network without also posting on the MLS was a no-go.The idea was that any alternative to the MLS would harm both consumers and their agents. A seller risks getting a lower price if there are fewer eyeballs on their listing. A buyer might know of only a fraction of homes for sale at any time, limiting their options. Agents can't make money off shadow listings that they don't even know about. MLSes are also <a target="_blank" class="" href="https://www.businessinsider.com/bad-real-estate-agents-realtors-homebuyers-sellers-housing-market-2023-7">huge sources of revenue</a> for the many local Realtor associations that own and operate them — the NAR has a direct interest in making sure they remain valuable."Everybody benefits when we all pool our listings, and we do so in a timely manner," Saul Klein, a longtime real-estate executive who's the CEO of the San Diego Multiple Listing Service, told me. "And people are hurt, potentially, when we don't do that."The new rule, however, included a loophole. It allows agents to market a home to other agents within their brokerage without sharing it on the MLS, a practice known as "office exclusives." The carveout effectively allows for private gardens within each brokerage, filled with homes you can't find anywhere else. Large brokerages like Compass, which has more than 30,000 agents across the country, can make a pitch to a seller like this: "We'll maintain your privacy by keeping your home off Zillow and test your chosen price across our huge network. We can limit the showings so you don't have random people traipsing through your home. And if you're not satisfied, we can always turn to the MLS later."Today, many large brokerages tout offerings that attempt to capitalize on this state of play. Compass, for instance, will offer to list your home as a "private exclusive" within its brokerage before launching it to the public. Howard Hanna's "Find It First" program allows sellers to "benefit from broad exposure without compromising on control," the company's CEO, Howard Hanna IV, said in a statement. In a lawsuit after the unveiling of the rule, Top Agent Network accused the NAR of privileging large brokerages (which belong to the association) while stamping out the competition from alternatives to the MLS. It complained that the organization's rule was "a transparent attempt at protecting its turf, not helping consumers."The clear-cooperation rule faded into the background as the pandemic upended the industry. But as the market settled and other big changes, like the class-action lawsuits over agent commissions, <a target="_blank" class="" href="https://www.businessinsider.com/homebuyers-real-estate-revolution-nar-lawsuits-new-rules-realtors-agents-2024-4">reached a resolution</a>, a group led by Compass' CEO, Robert Reffkin, began publicly pressuring the NAR to reconsider clear cooperation. <a target="_blank" class="" href="https://www.businessinsider.com/real-housewives-mauricio-umansky-agency-daily-schedule-2022-8">Mauricio Umansky</a>, a celebrity agent and brokerage CEO known for appearing on "Buying Beverly Hills," "Real Housewives," and "Dancing with the Stars," was already part of the opposition to the rule, having sued the NAR over his attempts to start an MLS alternative known as the PLS, or the Property Listing Service. Executives at Anywhere Real Estate, one of the largest brokerage companies in the country, have pushed for the rule to be loosened but not eliminated — one suggestion is to give agents more time to market a home publicly before listing it on the MLS. On the other side, executives at Zillow and Redfin decried the potentially disastrous consequences of a fractured housing market. In a recent op-ed article, Redfin's president and CEO, Glenn Kelman, argued that the end of clear cooperation would allow large brokerages to control more inventory, forcing buyers, sellers, and their agents to flock to big players rather than smaller outfits."The goal in weakening Clear Cooperation is to make being bigger matter — more than being better," Kelman wrote. "That is the law of the jungle, masquerading as freedom."It's not clear, though, that the clear-cooperation rule made things much better for consumers. In a hot market, it's easier for brokers to market a home off the databases and still get it sold. Redfin estimates that in the second quarter of 2021, the share of listings that were likely pocketed increased to 2.8%, or almost 35,000 homes. <a target="_blank" class="" href="https://www.businessinsider.com/housing-market-ice-age-higher-home-prices-fewer-sales-inventory-2023-5">The market has since slowed</a>, and Redfin's estimation of pocket listings was down to 1.8% of sales in the second quarter of this year, roughly in line with the same period in 2019. These are imperfect estimates; it's possible for a home to debut on the MLS in the morning and have a sale pending by the end of the day without anything unscrupulous happening. They could also be undercounts, since some homes may never be listed in the MLS at all. Ultimately, the data from one of clear cooperation's biggest advocates doesn't prove that the rule has actually reduced off-MLS sales. What has changed since the rule went into effect is brokerages' eagerness to control access to home listings. Home sales volume has plummeted since the heady days of 2021, which means <a target="_blank" class="" href="https://www.businessinsider.com/compass-layoffs-robert-reffkin-housing-market-2023-1">less revenue for the businesses that make their money by taking a cut of their agents' sales commissions</a>. Without clear cooperation, brokerages could drive more traffic to their own websites by publicly advertising homes that aren't available in the MLS or on sites like Zillow. And they could continue to tease office exclusives that are accessible only if you work with their agents.Both sides of this debate can reasonably claim that the industry will face legal trouble if they don't get their way. The Department of Justice, which has been fighting to reopen a wide-ranging investigation into the NAR, has signaled that the organization's control of the MLSes could be anticompetitive, stifling the development of alternative databases. What incentive is there for someone to start an MLS rival, the thinking goes, if basically everyone who uses the new database would still have to put their listings on the MLS anyway? On the other hand, proponents of clear cooperation argue that not showing homes to everybody could run afoul of fair-housing laws designed to ensure that buyers have equal access to the market."The fact that every listing is contributed to the MLS and that every consumer has access to that information is an enormous and overwhelming benefit to support fair housing," Victor Lund, a founder and managing partner of Wav Group, a consulting firm for real-estate companies, told me. "There is too much opportunity for housing discrimination without it."There are a lot of ways this could go. The final call will rest in the hands of top leaders at NAR, whose board will likely mull over the issue at its annual convention in the second week of November. It could be months before a decision, however, especially since it's not clear what kinds of actions the DOJ may take against the organization. NAR leadership could keep clear cooperation as is, repeal it entirely, or revise it in ways that might not even be obvious right now. Several people I spoke with, including Kelman, told me they'd like to see the office-exclusive loophole closed — no more exceptions for agents marketing homes within their brokerages."If you haven't bought a home yet," Kelman told me, "there is nothing more unsettling than seeing a moving van outside a house that never showed up in any of your searches." An imperfect rule, he argued, is better than no rule. Those in Kelman's camp say a housing market without the current version of the MLS would be more divided and more difficult to parse. At the same time, it's impossible to brush aside the criticisms of the rule. There's no guarantee it will remain as it is when the dust settles.The lawsuits over agent commissions last year were seismic, but they were ultimately about the practical matter of consumers' wallets: how much they were paying agents and what they were getting in return. The debate over clear cooperation strikes me as much more existential. Its result will determine the kind of housing market we have in the future. Buckle up.<a target="_blank" rel="" href="https://www.businessinsider.com/author/james-rodriguez">James Rodriguez</a> is a senior reporter on Business Insider's Discourse team.

Realtors are fighting over hidden listings. Their battle could make it harder to find a home.

There are nearly 60 properties in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> that find a place in the Tentative List for further inclusion in the <keyword id="20413005" type="General" weightage="100" keywordseo="UNESCO-World-Heritage-List" source="keywords">UNESCO World Heritage List</keyword>, according to information shared by the government in Parliament on Monday. A Tentative List is an inventory of those properties that each State Party intends to consider for nomination as a <keyword id="19908797" type="General" weightage="20" keywordseo="UNESCO" source="keywords" meta.keywordsubtype="org" meta.entityname="UNESCO" meta.hostid="261" meta.entityid="UNESCO">UNESCO</keyword> <keyword id="20989756" type="General" weightage="20" keywordseo="world-heritage" source="keywords">World Heritage</keyword> Site. The 46th session of the World <keyword id="19960510" type="General" weightage="20" keywordseo="heritage" source="keywords">Heritage</keyword> Committee (WHC) is being held in New Delhi from July 21 to July 31. India is hosting the key event of UNESCO for the first time. The mound-burial system of the Ahom dynasty in Assam -- '<keyword id="22553829" type="General" weightage="20" keywordseo="Moidams" source="keywords">Moidams</keyword>' -- was, on July 26, inscribed on the UNESCO <keyword id="22552065" type="General" weightage="20" keywordseo="world-heritage-list" source="keywords">World Heritage List</keyword>, making it the first <keyword id="22477662" type="General" weightage="20" keywordseo="cultural-property" source="keywords">cultural property</keyword> from the Northeast to get the coveted tag. 'Moidams' was submitted as India's nomination for inclusion in the UNESCO World Heritage List for the year 2023-24. The site was put in the Tentative List of the UNESCO World Heritage Sites in 2014. In a written response to a query in Lok Sabha, Union Culture Minister Gajendra Singh Shekhawat said, "There are 57 properties in the Tentative List for further inclusion in the World Heritage List. However, as per the Operational Guidelines 2023, only one property can be submitted for the World Heritage inscription process each year. As of now, 42 properties have been inscribed on the World Heritage List." The updated list for India, after the inclusion of centuries-old 'Moidams', is now 43 sites on the World Heritage List and 56 properties on the Tentative List, according to the website of UNESCO, which adds that out of the 195 States Parties to the <keyword id="22589969" type="General" weightage="20" keywordseo="World-Heritage-Convention" source="keywords">World Heritage Convention</keyword>, 189 have submitted a Tentative List. Shekhawat was also asked whether the government has formulated any scheme for the protection of cultural heritage in compliance with the guidelines of the United Nations Educational Scientific and Cultural Organisation (UNESCO). "No, sir, there is no such scheme formulated for the protection of cultural heritage in compliance with the guidelines of UNESCO. However, India has ratified the 1972 UNESCO World Heritage Convention. All the World Heritage properties, along with other sites and monuments under the jurisdiction of the <keyword id="19946002" type="General" weightage="20" keywordseo="Archaeological-Survey-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Archaeological Survey of India" meta.hostid="261" meta.entityid="Archaeological Survey of India">Archaeological Survey of India</keyword>, Ministry of Culture, are protected and conserved by funds provided by the Government of India based on their requirements and Annual Conservation Plan (ACP)," the Union minister replied. In response to another query, he said the Archaeological Survey of India (ASI) takes up conservation and maintenance work of protected monuments and sites throughout the country, including 286 in the state of Maharashtra. "Conservation and maintenance of monuments and archaeological sites is a continuous process and is taken up as per the need of monuments and availability of resources," the minister said. Shekhawat, in his response, also shared details of expenditure incurred on conservation, preservation and environmental development of protected monuments during the last three years and till July 15 of the current financial year. The figures stand as follows -- Rs 269.57 crore (2021-22), Rs 391.93 crore (2022-23), and Rs 443.53 crore (2023-24), while it was Rs 73.36 crore (2024-25) till July 15 of the current financial year.

Nearly 60 properties from India on Tentative List for inclusion on World Heritage List, says govt

<ul class="summary-list"><li>Erin Wright says she was shocked to discover she had been barred from flying American Airlines.</li><li>The airline said she drunkenly "engaged in sexual activity" with a man on a previous flight.</li></ul>Erin Wright was growing anxious.As she tried to check in for her American Airlines flight to her sister's bachelorette party, she kept getting an error message, both on her phone and at a kiosk at the airport. She didn't have any problems when she booked the ticket, so she assumed it was a system error and went to the airline's desk to ask for help."I've flown American a ton," Wright, a 24-year-old whitewater rafting guide based in New Mexico, told Business Insider.The agents made a phone call to fix the check-in issue, but when they hung up, they told Wright they couldn't check her in because American Airlines had barred her from flying on its airline."I was really confused and then obviously started to tear up a little bit," Wright said.She asked the desk agents to tell her why she had been barred from flying on the airline, but they said they could not. The desk agents also said the staffer on the phone told them it was "an issue of internal security" but that Wright should have been aware of why she was banned."I was like, 'Well, I don't, so what do I do?'" Wright said. The agents told her to email the customer relations department. She did that after booking a last-minute flight on a different airline to make it to her sister's bachelorette party on time. She said it cost nearly double the $471.95 flight she booked on American Airlines.Business Insider has viewed all of Wright's emails with the airline. American Airlines did not respond to multiple requests for comment.<h2 id="65506ea2-1fd3-44fe-9f88-ad84b52e706f">Ban or spam?</h2>During the ordeal at the airport, Wright recalled an email she had received in April that she had dismissed as spam at the time."I got this email from American, but it was from some really random email. It had numbers and letters — a very long, strange email and didn't have any contact information or anything in the email either — saying that I was banned," Wright said. "I hadn't done anything. I was like, 'This is just a phishing email.'"Business Insider has seen the email, which contained the subject line "Permanent Loss of Flight Privileges," alerting Wright that she had "violated the passenger code of conduct" during a previous American Airlines flight. The email address included a string of numbers and letters, and the email itself did not list a specific allegation.In the weeks after she was turned away at the airport check-in counter, Wright sent multiple emails to American Airlines, including one threatening legal action.When she didn't get responses, she cold-emailed top executives at the company, including CEO Robert Isom, on a Friday afternoon in July.The next day, she received a refund of $471.95 to cover the original flight cost.By Monday morning, she received an email from a customer relations employee, who told her that she and a male passenger were "placed on the permanent Internal Refuse List after multiple eye-witness reports of the passengers being intoxicated and engaging in sexual activity" during a flight in February.Wright confirmed she was on a flight in February, but there's one glaring problem with the airline's allegation: Wright is a lesbian."I was like, 'Well, I definitely didn't do that, so can we find a way to get this cleared up?'" Wright said. "It's really hard to prove that it wasn't me if they think it was, so I just had to try to be as diligent as I could."<h2 id="f4511349-1ded-41a3-997d-e93b977f6f44">Wright's appeal to the airline</h2>Emails Wright shared with Business Insider show she was placed on American Airlines' "internal refuse list," which the airline can add passengers to at will. It is distinct from the Transportation Security Administration's <a target="_blank" class="" href="https://www.tsa.gov/travel/security-screening/travel-redress-program#:~:text=The%20No%20Fly%20List%20is,the%20FBI's%20Terrorist%20Screening%20Center.">"No Fly List,"</a> which is a list of known or suspected terrorists maintained by the US government.Like all airlines, American Airlines has a <a target="_blank" class="" href="https://www.aa.com/i18n/customer-service/support/conditions-of-carriage.jsp?anchorEvent=false&amp;from=comp_footer">"Conditions of Carriage"</a> contract that passengers agree to abide by when they purchase a ticket. Among the requirements are that passengers "behave appropriately and respectfully with other passengers" and do not "appear intoxicated or under the influence of drugs.""We may not let you fly (temporarily or permanently) for any reason," the airline warns, especially if customers refuse to obey the law or the flight crew.During and following the COVID-19 pandemic, incidents of <a target="_blank" class="" href="https://www.businessinsider.com/american-airlines-ceo-unruly-behaviour-assault-flight-attendant-broken-bones-2021-10">violence toward crewmembers</a> and <a target="_blank" class="" href="https://www.businessinsider.com/unruly-flyers-fined-covid-19-pandemic-airlines-travel-2024-9">"unruly passengers" skyrocketed</a> far above pre-pandemic levels. Airlines also <a target="_blank" class="" href="https://www.businessinsider.com/number-of-people-banned-by-us-airlines-not-wearing-mask-2021-1">banned thousands of passengers for not wearing masks</a>, though many of those passengers <a target="_blank" class="" href="https://www.businessinsider.com/why-airline-passengers-banned-for-masks-are-allowed-back-on-planes-2022-4">regained their flight privileges</a> with airlines once the mask mandate was lifted.Because Wright was so sure she didn't do what she was accused of, she said she was even more committed to getting herself off of the airline's "refuse" list. She pulled out all the stops."In my email to them, I was literally like, 'I am a 24-year-old lesbian," Wright said. "I would never have sexual relations with anybody on a plane, but definitely not a man.'"Business Insider has seen the emailed appeal to American Airlines in which Wright said she has "never been intoxicated on a flight" and is not acquainted with the man the airline accused her of "engaging in sexual activity" with. She said the situation "is definitely a mix-up with another passenger.""I could have many people write letters on my behalf confirming that I would never engage in such activities. American Airlines has either mixed me up with another Erin Wright or confused me for another passenger," she wrote.In the end, it worked."I finally got a call from corporate security saying, 'We haven't figured out what happened, but we feel like you've been diligent enough in your communication with us and genuine enough that we're going to take you off the no-fly list until we do figure out what happened. And if it was you, we'll put you back on it, but if not, you're not going to hear from us anymore,'" Wright recalled.Her story went viral when she shared it on TikTok, and many viewers tagged American Airlines, which only compensated her for the June flight."They never offered anything," Wright said. "In one of my emails, I said, 'I expect to be compensated for the extra flight I had to book and for the inconvenience that this was."The company did not reimburse her further for her trouble.

A woman says she was wrongfully put on American Airlines' no-fly list. She cold-emailed the CEO to resolve it.

Indian tourists do not need a visa for visiting <keyword id="19915592" type="General" weightage="100" keywordseo="iran" source="keywords">Iran</keyword> with a new policy coming into effect from February 4, according to a statement issued by the Embassy of Iran here on Tuesday. "Individuals holding ordinary passports will be allowed to enter Iran without a visa once every six months, with a maximum stay of 15 days," the Embassy said in a statement. It is important to note that the 15-day period cannot be extended, the statement clarified. The visa-free entry applies only to individuals entering Iran for tourism purposes. Indians who visit Iran for business or educational purposes would have to apply for visa under the respective categories. Those who want to visit Iran more than once within the six-month time span will have to obtain a visa. The statement also made it clear that the visa-free entry would be applicable only to those Indian tourists who arrive in Iran by air. Those coming to Iran via the land route through Turkey, Afghanistan, Pakistan or any neighbouring nation would not be allowed to enter without a prior visa. Iran now joins the list of countries like <keyword id="19913659" type="General" weightage="20" keywordseo="thailand" source="keywords">Thailand</keyword>, Malaysia, <keyword id="19931726" type="General" weightage="20" keywordseo="sri-lanka" source="keywords">Sri Lanka</keyword> and Vietnam, which have recently waived visa requirements for Indian visitors.

After Thailand and Sri Lanka, Iran allows Indian tourists entry without visa

<ul><li>These scams predominantly target inexperienced job seekers who may not recognize the warning signs </li><li><keyword id="386981" type="General" weightage="20" keywordseo="scammers" source="Orion">Scammers</keyword> entice individuals with unrealistic offers or by impersonating legitimate companies </li><li>Under any circumstances, candidates should not transfer funds to unfamiliar accounts or reveal their bank/financial details </li></ul><keyword id="6953455" type="General" weightage="20" keywordseo="job-scams" source="Orion">Job scams</keyword> were always around, but ever since the pandemic and lockdowns, remote job scams have become more common. In the post-pandemic world, many companies have continued with remote work. However, others have called their employees back to the office. Some have also adopted a hybrid model where employees need to go to the office a few days every week. And the scammers are taking advantage of this trend! Why remote job scams are on the rise The increase in fake job scams, especially remote job scams can be attributed to several factors. Lots of people, especially those who got used to the remote working conditions, are now looking for remote jobs because it not only allows them to work from the comfort of their homes, it also does away with commuting and offers a better work-life balance. This is a need that remote job scammers target. Candidates often upload their personal information such as mobile number, email address, educational qualification, etc. on various online job portals during the job hunt. “Malicious parties can easily pry into such personal details and misuse them to create fake jobs. Additionally, with remote work models becoming commonplace, more candidates are falling for these traps in hopes of an opportunity without much verification,” says Sachin Alug, CEO of NLB Services, a talent solutions company. A challenging job market coupled with eager job seekers renders individuals more vulnerable to scams promising lucrative opportunities. Many of these jobs come with the promise of an entirely remote job, with a good salary and healthy benefits. “The prevalence of online job searching provides scammers with anonymity, enabling them to easily post <keyword id="18849320" type="General" weightage="20" keywordseo="fake-listings" source="Orion">fake listings</keyword> that appear authentic. The emergence of deepfakes introduces a new and concerning threat to job seekers in India, further complicating existing scams,” says Manu Saigal, Director, General Staffing, Adecco, a job consultancy. These scams predominantly target inexperienced job seekers who may not recognize the warning signs. Scammers entice individuals with unrealistic offers or by impersonating legitimate companies. This not only jeopardises the financial well-being of job seekers but also tarnishes the reputation of genuine companies, as scammers often exploit their identities to lend credibility to their schemes. Be aware of potential red flags It is possible to identify job scams if you are aware of certain red flags. “By remaining vigilant and aware of these red flags, you can significantly mitigate the risk of falling victim to fraudulent job scams and other deceptive tactics,” says Saigal. Unrealistic offers: Many such job offers are unrealistic, particularly if they offer exceptionally high salaries or benefits with minimal experience required. Also, employers in foreign countries may not be offering fully remote jobs to those in India. Fake urgency: Beware of scammers pressuring you to act quickly, bypass standard application procedures, or pay upfront fees. Reputable companies typically maintain clear and established application processes. Unprofessional communication: Watch for typos, grammatical errors, or poorly written communication in job postings or emails, as legitimate companies typically uphold professional communication standards. Requests for personal information or upfront payment: Avoid disclosing sensitive information such as bank details or social security numbers during the application process. Legitimate companies do not require payment for training or equipment prior to employment. Do not fall into the trap First and foremost, jobseekers must use authentic platforms to share their personal information. Clicking on a random link they receive in email or visiting a job site they have not heard of before is never a good idea. “When contacted for jobs, they must conduct thorough research on the offering party to validate their authenticity. A Google/LinkedIn search can be quite handy in verifying the identity of the employer/recruiter,” says Alug. Under any circumstances, candidates should not transfer funds to unfamiliar accounts or reveal their bank/financial details. Jobseekers can avoid these traps by exercising caution and doing their due diligence before responding to a job. Remember, if something is too good to be true, it probably is.

Remote job scams are on the rise! How to stay safe?

<ul class="summary-list"><li>A new Indeed analysis examined educational requirements noted in job postings.</li><li>Around half of US postings on the platform in January didn't note a particular education required.</li></ul>People searching for work, such as the 1.5 million <a target="_blank" href="https://fred.stlouisfed.org/series/LNS13027660">unemployed high school graduates aged 25 and older with no college</a>, may be in luck: Job postings are less likely to have formal educational requirements than a few years ago.That's according to a new <a target="_blank" href="https://www.hiringlab.org/2024/02/27/educational-requirements-job-postings/">report</a> from career-site Indeed analyzing educational requirements in US job postings since January 2019. The report also noted that 87% of the 47 occupational sectors looked at had fewer postings with bachelor's degree or higher educational requirements than in January 2019.As employers shift from formal educational requirements to skills-first hiring, <a target="_blank" href="https://www.businessinsider.com/how-get-job-this-year-network-resume-skills-certificates-unemployment-2024-1">job seekers</a> might want to think about their <a target="_blank" href="https://www.businessinsider.com/employers-want-soft-skills-good-communication-teamwork-leadership-energetic-2023-10">skills</a>.Indeed found 52% of US postings on the platform didn't state an education requirement in January. That's an increase of 4.0 percentage points from January 2019. The share of postings noting a bachelor's degree or higher dropped by 2.6 percentage points from January 2019 to 17.8% this past January.The data used in the new report was adjusted to account for job title mix changes. Additionally, the lowest educational requirement was looked at if there were multiple ones stated in a job posting.<h2>Labor shortages could push companies to focus on skills, not formal education</h2>Cory Stahle, an economist at the Indeed Hiring Lab, told Business Insider that as "the labor market got tight, employers started advertising more benefits and sharing pay more openly and things, we wanted to see if they were also cutting back on educational requirements to attract people."Some companies are doing skills-based or skills-first hiring, which can mean prioritizing or focusing on a job seeker's skills, such as <a target="_blank" href="https://news.delta.com/equity-motive-deltas-skills-first-approach-aims-increase-frontline-access-higher-earning-career">Delta Air Lines</a> and <a target="_blank" href="https://www.gallup.com/workplace/344621/why-ibm-chooses-skills-degrees.aspx">IBM</a>. Others may have to consider this in the future if they can't meet talent demand.Stahle noted that as the population ages, the US is "up against demographic headwinds" which could mean the talent pool begins to shrink. Certain industries could see <a target="_blank" href="https://www.businessinsider.com/teacher-shortage-schools-nurses-daycare-costs-inflation-rate-retail-workers-2023-10">long-term labor shortages</a>, economists like Stahle previously shared with BI, such as nursing or natural resources extraction."I think for many employers, being able to focus on the skills where it makes sense is going to be one way that they can mitigate some of those challenges that are going to arise through demographic-type of pressures," Stahle said.<h2>Cutting out education requirements in postings can have pros and cons</h2>Stahle said a lot of the data highlights the "importance of cultivating skills going forward.""There's a lot of promises behind skills-first hiring to potentially bring in more diverse candidates and candidates who haven't had access to these types of opportunities in the past," Stahle added. "As a job seeker, being able to see skills in job postings and be able to cultivate those skills is a really, really helpful step forward in career paths."Even with a shift away from college degree requirements, there could be assumed credentials and levels of education, per the new report. Teachers, some medical jobs, or trades like plumbing might need certifications. An aspiring candidate for a driver gig may need a <a target="_blank" href="https://www.fmcsa.dot.gov/registration/commercial-drivers-license/drivers">commercial driver's license</a>."There's a lot of sectors where it's really common for jobs to not include any educational requirements whatsoever," Stahle said. "If you look at a sector like driving, it's pretty uncommon to ever see educational requirements."Some occupations that do have extensive educational requirements may not list them explicitly. Around 61% of physicians and surgeon postings in January didn't have an education requirement compared to around 32% mentioning a bachelor's or higher. Stahle said, "when you go to hire a doctor, it's just assumed that they'll have certain levels of education."Stahle said it can be helpful for job seekers to filter openings by education level. Plus, Stahle said it can save the employer and job candidate time.Despite a shift toward skills-based hiring, many <a target="_blank" href="https://www.businessinsider.com/companies-arent-keeping-commitment-hiring-non-college-graduates-study-2024-2">companies may not actually be bringing on as many non-college employees</a> as expected. A <a target="_blank" href="https://www.burningglassinstitute.org/research/skills-based-hiring-2024">report</a> from Burning Glass Institute and Harvard Business School Managing the Future of Work Project's researchers noted that there's been a major difference in the number of roles in 2023 that have cut degree requirements compared to back in 2014, but some companies haven't made a "meaningful difference" in their hiring practices "following their removal of stated requirements from their postings.""Among the roles that fit the strict requirements of our sample, the number of roles no longer subject to degree requirements increased almost fourfold since 2014, down somewhat from a peak in 2022," the report said. "But placed against the backdrop of the millions of roles employers hire for annually, Skills-Based Hiring has made only modest inroads. Controlling for occupational mix, the percentage of job postings that require a college degree has only fallen by 3.6 percent over that period."Stahle said the entire hiring process "needs to be followed through to make sure that it actually leads to people without the education being hired in that as well."<h2>What skills do job seekers need to have?</h2>According to a <a target="_blank" href="https://www.linkedin.com/business/talent/blog/talent-strategy/linkedin-most-in-demand-hard-and-soft-skills">LinkedIn</a> analysis of skills based on its members' data and job listings, adaptability is the "<a target="_blank" href="https://www.businessinsider.com/job-search-job-security-adaptability-communication-work-skills-2024-2">top skill of the moment.</a>""We're in a moment where the economy is starting to reset what skills are valued the most based on what AI capabilities are and what that means for human capabilities and the needs for people at work," Aneesh Raman, a workforce expert at LinkedIn, said.The new Indeed report also looked at the impact of generative artificial intelligence."We found that jobs and sectors with higher educational requirements are also those that are a little more exposed to generative AI at the moment," Stahle said.Overall, Stahle said having a plan to build skills is going to be important for a job seeker's career."From a lot of the other research we've done, we've seen that the length of job descriptions has gotten longer over time," Stahle said. "Employers have not only become more likely to put retirement benefits and other types of perks in postings, but they're also putting more and more skills and trying to do a better job of enumerating skills."Did you land a job without a college degree? Reach out to this reporter to share at <a target="_blank" href="mailto:mhoff@businessinsider.com">mhoff@businessinsider.com</a>.

Fewer jobs require a college degree. Here's what employers are looking for instead.

<ul class="summary-list"><li>Many major companies are requiring employees to return to the office full or part-time.</li><li>Insider compiled a running list of the companies calling employees back.</li></ul>Since COVID-19 restrictions eased, many companies have been calling their employees back to the office.Some executives and leaders believe productivity increases when workers are in the office together, while others hope to increase in-person collaboration. Some employers are taking extremes to get people back, <a href="https://www.businessinsider.com/jpmorgan-is-tracking-employee-id-badges-swipes-jamie-dimon-hybrid-2022-4">tracking attendance</a> or threatening to terminate workers who don't comply.Among major employers, <a href="https://www.businessinsider.com/jpmorgan-return-to-office-memo-managing-directors-2023-4">JPMorgan Chase is abandoning a hybrid attendance policy</a> it adopted during the pandemic and requiring executives to return to the office. Meanwhile, Amazon's Andy Jassy issued a mandate for corporate staffers. And Salesforce's leadership has also drafted a return-to-office policy, according to a draft of the company's strategic plan shared in an internal Slack <a href="https://www.businessinsider.com/salesforce-plans-ranking-employees-return-to-office-layoffs-2023-2">message viewed by Insider</a>. Here's a list, in alphabetical order, of major companies requiring employees to return to offices. Insider will update this list regularly. Amazon Jassy <a href="https://affiliate.insider.com?h=f8f89d4fb2ed0164c11488e18bdc4221f4aa89d2c94c837e25379ae9907f0a1f&amp;postID=63c06c2aba7556234f642022&amp;site=bi&amp;u=https%3A%2F%2Fwww.aboutamazon.com%2Fnews%2Fcompany-news%2Fandy-jassy-update-on-amazon-return-to-office" target="_blank" rel="noopener">said in a February memo</a> that he will require corporate employees to spend at least three days per week in the office beginning May 1. The CEO said he and Amazon's leadership team decided it would be easier for employees to collaborate and that in-person work would strengthen the company's culture. In response, thousands of Amazon employees joined a Slack channel to share their thoughts about the company's surprise return-to-office mandate, with some even organizing to file a petition against the change, <a href="https://www.businessinsider.com/amazon-employees-plan-to-fight-against-return-to-office-policy-2023-2?_gl=1*1pz7g5d*_ga*MTE5MzA1ODM2Ny4xNjc2ODgxMjQx*_ga_E21CV80ZCZ*MTY3NzA1MzY3OS41LjAuMTY3NzA1MzY4MC4wLjAuMA..&amp;r=US&amp;IR=T">Insider's Eugene Kim reported</a>. AppleIn August, senior leaders told workers they had to return to the office at least three days a week. CEO Tim Cook said the decision was meant to restore "in-person collaboration." Employees fought back and issued a petition shortly after the announcement, arguing that staffers can do "exceptional work" from home.Read more: <a href="https://www.businessinsider.com/apple-employees-remote-work-office-three-days-2022-8">Apple workers hit back against the company's return-to-office plans, saying they have carried out 'exceptional work' from home</a>BlackRockStarting in September, BlackRock is mandating employees return to the office four days a week. The investment firm, which is headquartered in New York City, is making an effort to bring employees into the newly leased office space — which spans 1 million square feet across 15 floors, <a href="https://www.hudsonyardsnewyork.com/work/50-hudson-yards#:~:text=The%20world's%20leading%20investment%20management,square%20feet%20across%2022%20floors.">according to Hudson Yards</a>.In a May memo sent by the company's COO, Rob Goldstein, and the head of human resources, Caroline Heller, the execs wrote: "Career development happens in teaching moments between team members, and it is accelerated during market-moving moments, when we step up and get into the mix. All of this requires us to be together in the office."Additionally, the memo notified staffers that the firm is giving them the opportunity to work remotely for two weeks during a time period that is relevant in their country, in an effort to offer "seasonal flexibility."Read more: <a href="https://www.businessinsider.com/blackrock-return-to-office-policy-memo-employees-2023-5">BlackRock is mandating 4 days in the office, starting in September. Read the memo on the firm's plans.</a>ChipotleThe fast-food chain plans to require that corporate workers work in the office four days a week, <a href="https://www.bloomberg.com/news/articles/2023-06-06/chipotle-cmg-tells-corporate-staff-to-be-in-office-four-days-a-week?srnd=all" target="_blank" rel="noopener">according to Bloomberg</a>. Chipotle, which had been requiring workers to show up three days a week, announced the shift in late May, according to the report. Read more: <a href="https://www.bloomberg.com/news/articles/2023-06-06/chipotle-cmg-tells-corporate-staff-to-be-in-office-four-days-a-week?srnd=all" target="_blank" rel="noopener">Chipotle Calls Corporate Staff Into Office Four Days a Week</a>CitigroupVaccinated Citigroup employees across the US were asked to return to the office for at least two days a week in March 2022, an <a href="https://www.reuters.com/business/citigroup-asks-us-employees-return-office-march-21-memo-2022-02-23/" target="_blank" rel="noopener">internal memo obtained by Reuters</a> said.Read more: <a href="https://www.businessinsider.com/return-to-work-wars-hybrid-remote-permanent-work-2022-6">Return-to-work wars: Execs at Citi, Manpower, and McKinsey on why they're embracing remote and hybrid work</a>DisneyIn a memo obtained by Insider, CEO Bob Iger told workers that starting in March, any Disney staff member working "in a hybrid fashion" will need to return to Disney's offices four days a week.But <a href="https://www.businessinsider.com/disney-employees-petition-against-working-four-days-in-office-2023-2">some employees are fighting that mandate.</a>Read more: <a href="https://www.businessinsider.com/disney-staff-return-to-office-bob-iger-remote-work-home-2023-1">Disney CEO Bob Iger tells staff to return to the office 4 days a week, saying 'nothing can replace' in-person work</a>Goldman SachsIn March, CEO David Solomon <a href="https://fortune.com/2022/03/10/goldman-sachs-office-hybrid-remote-work-david-solomon/" target="_blank" rel="noopener">told Fortune</a> that the company was asking employees to return to the office five days a week. In October, <a href="https://www.businessinsider.com/goldman-sachs-return-office-policy-65-percent-workers-wfh-2022-10">he told CNBC</a> that about 65% of staffers were working in the office.Read more: <a href="https://www.businessinsider.com/goldman-sachs-return-office-policy-65-percent-workers-wfh-2022-10">Goldman Sachs' return-to-office policy has brought back 65% of its workers to the workplace 5 days a week, the bank's famously anti-remote-work CEO said</a>GoogleGoogle employees in the San Francisco Bay Area and "several other US locations" were told to return to the office for at least three days a week starting in April 2022.Read more: <a href="https://www.businessinsider.com/google-to-bring-workers-back-to-office-three-days-week-2022-3">Google is calling employees back to some US offices for 3 days a week starting April 4, with flexibility like 'work from anywhere' weeks</a>IBMIBM's CEO, Arvind Krishna, has <a href="https://www.businessinsider.com/read-the-presentation-ibm-gives-employees-on-returning-to-offices-2021-4?r=US&amp;IR=T" rel="">encouraged workers</a> to return to the office for three days a week.Meanwhile, IBM's HR chief <a href="https://www.businessinsider.com/how-ibm-hr-chief-decides-which-employees-can-work-remotely-2021-2">told Insider</a> in 2021 that most employees would return to the office part-time after the pandemic.Recently, Krishna <a href="https://www.bloomberg.com/news/articles/2023-05-03/remote-work-can-hurt-your-career-ibm-ceo-says?leadSource=uverify%20wall" target="_blank" rel="noopener nofollow">told Bloomberg that employees' careers could suffer if they work from home.</a> He said that although he wasn't forcing his own staffers back to the office, he thought remote workers may struggle to get promotions. Krishna has been IBM's CEO since 2020.Read more: <a href="https://www.businessinsider.com/ibm-ceo-remote-work-employees-careers-promotions-suffer-2023-5">IBM chief says employees' careers could suffer and promotions may be harder to achieve if they work from home</a>JPMorganIn August, CEO Jamie Dimon pushed back on remote work, saying it didn't work for an apprenticeship program or "spontaneous stuff," <a href="https://ca.finance.yahoo.com/news/jamie-dimon-sounds-off-morning-brief-110044236.html" target="_blank" rel="noopener">Yahoo Finance reported</a>.Meanwhile, JPMorgan asked half of its employees to return to the office five days a week and another 40% to go in a few days a week. The company has been collecting data on staff activity, including <a href="https://www.businessinsider.com/jpmorgan-is-tracking-employee-id-badges-swipes-jamie-dimon-hybrid-2022-4">tracking attendance</a>.Most recently, <a href="https://www.businessinsider.com/jpmorgan-return-to-office-memo-managing-directors-2023-4">the bank said it will mandate</a> that all managing directors come to the office five days a week. It's a move that could shape the rest of Wall Street's work-from-home rules. Read more: <a href="https://www.businessinsider.com/jpmorgan-ceo-pushes-back-on-remote-work-during-client-call-2022-8">JPMorgan CEO Jamie Dimon told clients that remote work 'slows down honesty and decision making,' report says</a>Meta<a href="https://www.businessinsider.com/meta-lowers-bonus-payouts-reverts-bi-annual-performance-reviews-2023-3" rel="">Meta</a> has stopped offering <a href="https://www.businessinsider.com/remote-job-openings-decline-as-more-companies-return-to-office-2023-3" rel="">remote work</a> when it lists new jobs, at least for now. It's also announced that employees will be required to head into the office <a href="https://www.businessinsider.com/meta-requiring-employees-come-to-the-office-3-days-week-2023-6#:~:text=Meta%20has%20announced%20that%20employees,the%20height%20of%20the%20pandemic.">three days a week</a> starting in September. Hiring <a href="https://www.businessinsider.com/meta-is-downranking-manager-roles-ahead-of-expected-layoffs-2023-3" rel="">managers</a> have been told they can no longer post new jobs that list the work location as "remote" or outside of an existing office, people familiar with the company told Insider. The move is another sign that the company is drifting away from its previously friendly approach to remote-work.Read more: <a href="https://www.businessinsider.com/meta-stops-offering-remote-work-new-job-postings-zuckerberg-2023-3">Meta stops offering remote work in new job postings as Mark Zuckerberg pushes the benefits of coming to the office</a>RedfinOn April 23, 2023, real estate company Redfin announced an updated return-to-office policy via <a href="https://www.redfin.com/news/all-hands-email-on-hybrid-work/">a memo from CEO Glenn Kelman</a>.The memo noted that starting on July 11, Redfin would require headquarters employees who live within 20 miles of the company's Seattle, San Francisco, and Frisco offices to work from the office for a full day on Tuesdays and Wednesdays.Those who live beyond the 20-mile radius, will be required to visit the office in-person once a quarter for a day or more of meetings, the company said.In order to hold employees accountable, the memo included a "no-exceptions" section, reading that "to determine your distance from an office, we'll use Google Maps, with the distance from your home address measured in miles driven over roads by car."Read more: <a href="https://www.businessinsider.com/redfin-layoffs-home-flipping-business-redfinnow-shut-down-2022-11">Redfin is shutting down its home-flipping business and laying off 13% of staff</a>SalesforceSalesforce CEO Marc Benioff has made revisions to the company's annual strategic plan, including return-to-office mandates, according to a draft of the document shared in an internal Slack <a href="https://www.businessinsider.com/salesforce-plans-ranking-employees-return-to-office-layoffs-2023-2">message viewed by Insider</a>. In February 2021, Salesforce said workers could "<a href="https://www.businessinsider.com/salesforce-employees-can-work-from-home-permanently-2021-2">work from anywhere</a>." The updated draft return-to-office policy would require three days a week in the office for nonremote employees and four days a week for employees in "non-remote" and "customer-facing" roles. Engineers would be required to work from the office 10 days per quarter, down from 20 in the initial draft, which was updated based on employee feedback. Read more: <a href="https://www.businessinsider.com/salesforce-plans-ranking-employees-return-to-office-layoffs-2023-2">Salesforce's Marc Benioff has revised a plan to stack rank a bottom 5% and ordered employees back to the office, according to leaked messages</a>Snap<a href="https://www.businessinsider.com/snap-return-to-office-mandate-2023-2022-11">Snap employees will be required to work in an office at least four days a week as of February 2023, </a>a person familiar with the plans told Insider. This was announced during CEO Evan Spiegel's weekly chat and Q&amp;A with employees. The change represents a shift from the company's former policy, which is "remote first" and allows employees to work from home or elsewhere.Read more: <a href="https://www.businessinsider.com/snap-return-to-office-mandate-2023-2022-11">Snap employees must work in the office at least 4 days a week next year, ending its 'remote first' policy</a>StarbucksIn a memo to corporate staffers, CEO Howard Schultz said employees within commuting distance would be required to return to the office at least three days a week starting January 31. In August, Schultz said he was <a href="https://www.businessinsider.com/starbucks-ceo-howard-schultz-begs-workers-return-office-2022-6">doing everything he could</a> to get workers in the office.Starbucks employees, however, have <a href="https://www.businessinsider.com/starbucks-employees-sign-petition-letter-opposing-return-to-office-policy-2023-3" target="_blank" rel="noopener">signed an open letter protesting the company's return-to-office mandate</a>.Read more: <a href="https://www.businessinsider.com/howard-schultz-orders-starbucks-staff-back-office-3-days-week-2023-1">Howard Schultz says baristas don't have the 'privilege' of working from home as he orders Starbucks staff back to the office 3 days a week</a> TeslaIn June 2022, Tesla employees were notified of a mandatory return-to-office policy.The email from Elon Musk included wording such as "If you don't show up, we will assume you have resigned," and noted that everyone at Tesla must work from the office at least 40 hours a week. Musk nodded to his frequent presence at Tesla factories as the reason for the businesses success, writing, "If I had not done that, Tesla would long ago have gone bankrupt."Read more: <a href="https://www.businessinsider.com/elon-musk-tesla-remote-work-return-office-or-quit-report-2022-6">Elon Musk reportedly issued an ultimatum to Tesla staff: return to the office or quit</a>TwitterAfter buying Twitter in October, Musk told employees in November that not showing up to an office when they're able to was the same as a resignation, <a href="https://www.theverge.com/2022/11/10/23452196/elon-musk-twitter-employee-meeting-q-and-a" target="_blank" rel="noopener">The Verge reported</a>.Musk also told staffers in an email that remote work was no longer allowed and that employees were expected to be in the office for at least 40 hours a week unless given explicit approval to work elsewhere.Read more: <a href="https://www.businessinsider.com/elon-musk-twitter-employees-return-to-office-remote-work-2022-11">Elon Musk tells Twitter employees to return to the office or their resignations will be accepted</a> UberIn a memo obtained by Insider, CEO Dara Khosrowshahi told employees that beginning in April 2022, Uber staffers in 35 of the company's locations were <a href="https://www.businessinsider.com/uber-mandatory-return-to-office-in-late-april-contrast-lyft-2022-3">required to return to the office at least half the time</a>. He added that on other days staffers were allowed to work remotely and that some could be entirely remote if they get clearance from their managers.Read more: <a href="https://www.businessinsider.com/uber-mandatory-return-to-office-in-late-april-contrast-lyft-2022-3">Uber CEO's internal memo mandates employees return to the office in April. That's in stark contrast to rival Lyft.</a>An earlier version of this story appeared on February 24, 2023.

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