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<div type="image" title="Companies are embracing the unbossing trend" msid="113256383" hostid="261" sizebytes="1440779"></div> If there’s one thing both a productive team member and an underperformer hates in the corporate world, it’s being micromanaged. Now, imagine a workplace where the boss isn’t calling all the shots. Instead, everyone has a voice, and innovation flows freely. The recent corporate trend of "Unbossing" promises to do just that, empowering employees by eliminating the heavy hands of hierarchy. Sounds too good to be true? Well, globally, not just the new-age start-ups, but dozens of major corporations have embraced this trend and trimmed their middle management. <h2>Managers managing managers — no more!</h2>In January last year, <keyword id="399907" type="General" weightage="20" keywordseo="META" source="Orion">Meta</keyword> CEO Mark Zuckerberg made headlines for declaring 2023 as the “year of efficiency” and saying that he doesn’t want a management structure that's just “managers managing managers”. <div type="image" title="Meta CEO Mark Zuckerberg" agency="ANI" msid="113256403" hostid="261"></div> The same month, it was also reported by Command Line that Meta's chief product officer Chris Cox, had shared a post on the company's communication platform, Workplace, highlighting the necessity to "flatten" the organisation's structure. What followed was reports of Meta slashing middle management roles. Gradually, other companies like Shopify, Bayer, and Cisco began making headlines for showing the exit door to some of their middle managers. Loosely, unbossing is essentially cutting down the middle management roles. It cuts significant costs for the company and the new-age workforce also endorses the trend as efficient in enabling faster decision-making and innovation. However, critics argue this trend also limits the extent of mentorship that the younger generation receives while entering the workforce, which often remains an intangible value if your boss turns out to be a good mentor. Therefore, for some, it’s not about firing the middle management, but just another leadership philosophy on how leaders (and ‘bosses’) should conduct themselves. This approach advocates bosses working along with the team as a part rather than shouting instructions from the top. Whatever one’s understanding, this trend of “Unbossing” appears to be taking corporate America by storm in 2023, as evidenced by hundreds of media reports highlighting the same. Overall, most agree that the trend is restructuring organisational hierarchy to enable direct communication between employees and leaders. Cut to 2024, this trend is still prevalent and making headlines. A Bloomberg report recently said that Georges Elhedery, the incoming CEO of HSBC Holdings, might also consider plans to streamline the company's operations by reducing layers of middle management. But what’s the scenario in India? Are Indian companies ready to ditch the old-school approach and adopt this new way of working? Let’s dive in and see what the experts have to say! <h2>Layoffs to impact senior professionals: Naukri.com survey</h2>A survey by job portal Naukri.com early last year had suggested that recruiters in India expect a decline in layoffs during the first half of 2023. The survey, which included responses from 1,400 recruiters and consultants across ten industries, revealed that only 4 percent of participants anticipated layoffs to be the main focus of hiring activities within their organisations. However, the survey also highlighted that information technology roles and senior professionals were likely to be the most affected by hiring adjustments. About 20 percent of recruiters predicted that layoffs would predominantly impact senior professionals, while freshers are expected to face the least disruption from these hiring corrections. Interestingly the survey came around the same time when the Unbossing trend had begun picking up pace abroad. <h2>Layoffs at Wipro, <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> and Collegedunia</h2>In January this year, Wipro India was in the limelight for laying off hundreds of its mid-level executives. The company reportedly culled many jobs as part of its strategy to improve margins. An ET report citing two sources familiar with the situation had said that the leading Indian IT firm reduced mid-level roles at its onsite locations. "Notices began being issued earlier this month, and hundreds of mid-level executives onsite are being let go," one source revealed. Another source added, "They have costly resources onsite in Capco, and although growth is returning, it's not sufficient. Aparna Iyer, Wipro's chief financial officer, has been tasked with delivering better margins this quarter." <div type="image" title="Amazon decided to lay-off middle managers in May" msid="113256170" hostid="261"></div>Then in May, Amazon also decided to reduce layers of middle management within its customer service divisions as part of an organisational restructuring, a Fortune report had said. The cuts impacted over 100 customer service managers in Level 5 and Level 6 middle management roles, both in call centres and virtual positions, primarily based in the U.S. and India. Not just large tech companies, startups too seem to be adapting the <keyword id="23125775" type="General" weightage="100" keywordseo="unbossing-trend-in-India" source="Orion">unbossing trend in India</keyword>. Last month, educational portal Collegedunia confirmed that around 100 employees from its Study Abroad department had been given the pink slip. A report in CNBC-TV18 had said that additional job cuts were happening across other departments as part of a broader reorganisation. The restructuring, as per the report, was aimed at automating many tasks to reduce costs. Interestingly, despite the layoffs, Collegedunia had posted 13 job openings on LinkedIn for various roles in different locations, primarily entry-level positions requiring up to two years of experience. "While Collegedunia is laying off several employees, it is also hiring fresh talent, allowing them to keep staffing levels up but at a lower cost," one employee told CNBC-TV18 at the time. Another source confirmed that while Collegedunia had been actively recruiting for some months, it has also been letting go of employees, including senior staff members with 7-8 years of experience at the company. <h2>What do experts say?</h2> <div type="image" title="Experts&amp;#39; opinion on unbossing trend" msid="113256250" hostid="261"></div>Mr. Sumit Kumar, Chief Strategy Officer at TeamLease Degree Apprenticeship, told Business Insider India, “From the perspective of HR leaders and CEOs, the strategic culling of middle management is viewed as a means to streamline operations, reduce overhead, and foster a culture of autonomy and innovation.” He also noted that even though employees can “exercise greater ownership and agility in decision-making” through this approach, there are also significant downsides. “The erosion of middle management creates a vacuum in leadership development, mentorship, and the retention of institutional knowledge, potentially leading to disengagement, a weakened talent pipeline, and misalignment with organisational objectives,” Kumar noted. Talking specifically about the Indian scenario, he said, “Implementing this trend in India would be a strategic move, positioning organisations to remain competitive in a rapidly evolving business environment. However, to fully capitalise on this approach, developing a more robust talent pipeline that integrates the ability to multitask at all levels is imperative. In today's landscape, leadership demands thinkers, strategic visionaries, and individuals who can execute with precision. We need to cultivate a new breed of leaders who are both thinkers and doers, capable of navigating complex challenges while driving innovation and growth. By building versatile, agile leaders through targeted talent development programs, Indian organisations can ensure they are well-prepared to thrive in a decentralised, high-performance environment.” RP Yadav, Chairman and Managing Director of Genius Consultants Limited, told ET recently that the Unbossing approach simplifies hierarchies and encourages open communication between frontline employees and senior management. He had added that the concept of “the oldest in the room is always the wisest of all” is no longer applicable. Meanwhile, Aditya Narayan Mishra, MD and CEO of CIEL HR Services told ET that the unbossing trend is predominantly seen in tech companies, creative roles, and startups, where swift decision-making and the unrestricted exchange of ideas are crucial. For example, the tech sector often thrives with flattened hierarchies that support rapid innovation and agility, while creative industries such as advertising and media use unbossing to cultivate a more collaborative and idea-focused environment. Thus, the unbossing trend is gaining traction beyond global companies and is finding its way into Indian organisations as well. While this approach can streamline operations, reduce costs, and enhance agility, experts caution that it also brings challenges, such as gaps in leadership development and the loss of institutional knowledge. To fully harness the benefits of unbossing, Indian companies must focus on cultivating agile leaders who can navigate complex challenges and drive growth. By building a strong talent pipeline and fostering a culture of innovation and collaboration, Indian organisations can position themselves to thrive in a more decentralised and dynamic business environment. Do you have insights or personal experience to s hare on layoffs, <keyword id="34447" type="General" weightage="20" keywordseo="workplace-trends" source="Orion">workplace trends</keyword>, or career changes? Contact us at businessinsider@timesinternet.in.

SIMPLY PUT: What’s with all “Unbossing” talks? Are Indian companies also embracing this global trend?

<ul><li>Bengaluru-based IT services company <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword> now requires some freshers to clear Project Readiness Programme (PRP) or face termination.</li><li>Wipro has reportedly asked those freshers to undergo the PRP who had agreed to accept a lower package of ₹3.5 lakh per annum compared to ₹6.5 lakh it offered earlier.</li><li>This has attracted the ire of Pune-based union Nascent Information Technology Employees Senate (NITES), whose president has called it ‘unethical, unfair and unjust’.</li><li>Business Insider India has obtained a copy of Wipro PRP that outlines the exact process freshers will have to undergo.</li></ul>Bengaluru-based IT services company Wipro now requires some freshers to clear Project Readiness Programme (PRP) or face termination, according to a document seen by Business Insider India. Wipro will apply PRP to candidates who had opted for a lower package of ₹3.5 lakh per annum, from the initially promised ₹6.5 lakh per annum. For context, Wipro in February slashed the annual compensation for freshers who had already undergone the company’s ‘Velocity’ training programme to ₹3.5 lakh from ₹6.5 lakh per annum. At the time, Wipro blamed the “changing macro environment” and “business needs”. Business Insider India has obtained a copy of the document detailing Wipro’s Project Readiness Programme, which details the contours of the programme. “Project Readiness Programme is a programme offered by Talent Transformation to all campus and off-campus hires referred as NGAs (next-generation associates). The broad objective of PRP is to equip NGA with the necessary knowledge and skills that will enable them to start working on customer projects,” the PRP document says. This has attracted the ire of Nascent Information Technology Employees Senate (NITES), a Pune-based union. “Wipro's actions towards its fresher employees are unethical, unfair and unjust. The company's misleading communication and sudden changes in policy have put the future of these employees at risk,”<a href="https://economictimes.indiatimes.com/tech/information-tech/wipro-asks-freshers-who-opted-for-lower-packages-to-clear-test-or-face-termination-union-alleges/articleshow/99611099.cms"> said</a> Harpreet Saluja, NITES president. Wipro PRP also mandates that every associate in this programme will have to obtain a score of at least 60%. Failure to do so will “lead to separation action with immediate effect”, which means that the fresher will not be given a job by the company. <cmsannotation type="cmsannotation" annotationid="Up to 8 weeks of training" comment="subhead" text="Up to 8 weeks of training">Up to 8 weeks of training</cmsannotation> Wipro PRP involves up to 8 weeks of training, depending on the skillset matching criteria. The company is calling it ‘Technology Readiness Training’ (TRT). In addition to this, all candidates are also required to work on a capstone or business-oriented project for 1-2 weeks. Once completed, candidates will have to present their projects and also answer questions orally. The training programme duration ranges from anywhere between 4 to 8 weeks, with the training done either via e-learning or an instructor. Associates are required to complete their allotted projects during this course, only after which they will be allowed to proceed for the final assessment. <cmsannotation type="cmsannotation" annotationid="Assessment test with negative marking" comment="subhead" text="Assessment test with negative marking">Assessment test with negative marking</cmsannotation> The final assessment consists of multiple-choice questions (MCQ) and logic building programme for programming languages, with both the categories carrying equal weightage. Candidates will get an hour for each category, and MCQs will attract negative marking of 0.25 per question for wrong answers. Only those candidates with a minimum score of 60% marks will be eligible for selection, and those who fail to score 60% will be terminated. All candidates will be given three attempts to clear the programme. Wipro is scheduled to announce its Q4 earnings on April 27. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/rils-q4-performance-keeps-brokerages-bullish-on-the-companys-prospects/articleshow/99725935.cms">RIL’s Q4 performance keeps brokerages bullish on the company’s prospects</a> <a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-q4-net-profit-of-19299-crore-beats-analyst-expectations-driven-by-retail/articleshow/99673940.cms">RIL’s Q4 net profit of ₹19,299 crore beats analyst expectations, driven by retail</a> <a href="https://www.businessinsider.in/business/corporates/news/itc-has-had-a-dream-run-in-fy23-and-heres-why-theres-more-juice-left-in-the-stock/articleshow/99662367.cms">ITC has had a dream run in FY23 and here’s why there’s more juice left in the stock</a>

Wipro wants some freshers to clear this new programme or face termination

<ul><li>Tech brands have fared badly in 2023 due to global headwinds, recession threats and more.</li><li>Banking and financial services companies including fintechs saw their value swell during the year.</li><li>PhonePe and Cred were the new entrants into Kantar’s list of Top 75 Indian brands.</li><li>Auto companies made a comeback from Covid-lows with TVS and Mahindra being among the fastest risers. </li></ul>It is not just the share prices of technology services companies that are falling, even their brand value has taken a beating. India’s top brands have borne the brunt of the global economic downturn in 2023. The combined value of Kantar BrandZ’s top-75 Indian brands shed 4% of their value to $379 billion in 2023. Yet, they have fared better than their global counterparts, as its global list has shed 20% of its value. Most of this loss in brand value was seen in Indian tech brands whose value shrunk by 14%. The brands have a major presence in international markets, and have been impacted by global pressures, recession threats and geopolitical instability, says Kantar. “If you exclude tech, the combined brand value is quite stable,” said Soumya Mohanty, managing director and chief client officer, South Asia, Insights Division of Kantar. TCS on the top, as usual The spot of India’s most valuable brand, however, is retained by tech giant TCS. It has shed 6% of its value but has fared better than tech as a sector. “TCS has a strong corporate reputation which makes it more likely to retain clients and business. It can also help enable customer retention which is also a factor that adds to brand value,” Deepender Rana, executive managing director of South Asia Insights Division at Kantar told Business Insider India. Infosys’ brand value dropped by 17%, while HCL Tech’s brand value rose by 3%. Both these brands made it to the top 10. Wipro’s brand value dropped by a sharp 42%. The rest of the list is dominated by banks, telecom companies with only one consumer company, Asian Paints in the top 10. Kantar BrandZ Top 10 Most Valuable Indian Brands 2023 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rank 2023 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brand </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brand Value 2023 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consultancy Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business Technology and Services Platforms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$42.9 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$33.6 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business Technology and Services Platforms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$24.1 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Airtel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Telecom Providers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$22.5 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$14.4 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$12.9 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paints </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$12.8 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jio </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Telecom Providers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$11.7 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$10.3 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business Technology and Services Platforms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$9.3 bn </td></tr></tbody></table> Source: Kantar Autos zoom ahead Auto brands have been buzzing in 2023 and the sector has provided two of the fastest risers of the year. TVS, valued at $1.9 billion, occupies the 51st rank. The company has gained 59% in value and leapt 24 places thanks to a number of successful product launches and a 10-year partnership with BMW that gives it leverage in markets such as Europe, the US and Canada. Mahindra is valued at $2.01 billion and occupies the 47th rank. Mahindra, which grew its value by 48%, made itself incredibly meaningful in consumers’ eyes, and also significantly boosted its salience. The sector saw the second highest category growth of 19%, after tobacco. Royal Enfield’s value also swelled, thanks to Indians’ preference for premium products. A lot of Indian auto brands, like Tata Motors, also entered EV markets and are able to meet consumer needs better, observes Rana. “Auto companies’ value declined during Covid and made a comeback after they dealt with supply chain issues and dealt with bottlenecks,” said Mohanty. India’s largest auto company Maruti Suzuki, however, shed 5% of its brand value, while Bajaj Auto’s brand value went up by 9%. The value in finance Financial services brands have grown their brand value by 6% with 16 brands and contributing to the biggest chunk of the total brand value. Their growth is attributed to growth in digital banking and Axis Bank whose value swelled 28% and now ranks at 17. ICICI Bank which ranks at no 6 also has seen its brand value swell by 18%. Two of this year’s new entrants also belong to the fintech sector — PhonePe and Cred. This is in spite of the fact that tech as a sector saw its value go down during the year. PhonePe has made its debut on the list at No.21 with a value of $4.4 billion. It has quickly become India’s leading digital payment app by investing heavily in the strength of its infrastructure, building connections with partner banks, and developing a huge network of merchant acceptance points, said Kantar. Meanwhile, Cred has entered at no 48 with a brand value of $2 billion. “Growth of credit and other digital trends are adding to the value of fintechs. There is a need for these services and brands are doing a good job of providing them,” Mohanty tells Business Insider India. PayTM, Zomato, Swiggy, Flipkart, Naukri, Oyo and Nykaa have shed value; while Byju’s hasn’t been included in the list this year. FMCG as a sector has seen its brand value remain stable during the year.

TCS retains No 1 spot as India’s top brand but tech sector takes a hit

<ul><li>The Indian multinational conglomerate is hiring BCA and B.Sc students who graduated in 2020, 2021 and 2022.</li><li>Selected candidates will get a maximum stipend of ₹23,000 per month.</li><li>Interested candidates can apply for the opportunity by February 7, 2022.</li></ul><keyword id="10862" type="General" weightage="20" keywordseo="Wipro" source="Orion">Wipro</keyword>, an Indian multinational conglomerate, is inviting applications from Bachelor of Computer Applications (BCA) and Bachelor of Science (B.Sc) graduates of 2020, 2021 and 2022. The last date to apply for the opportunity is February 7, 2022. Interested candidates can apply online <a href="https://careers.wipro.com/wilp">here</a>. Students will also eligible for a monthly stipend — <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Period </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stipend </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1st year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15,000 + 488 (ESI) + Joining bonus of ₹75,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2nd year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹17,000 +533 (ESI) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3rd year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹19,000 + 618 (ESI) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4th year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹23,000 </td></tr></tbody></table> Candidates will also get a merge bonus for the first 3 years post completion of the M.Tech degree. <cmsannotation type="cmsannotation" annotationid="Other benefits —" comment="subhead" text="Other benefits —">Other benefits —</cmsannotation> <ol><li>M.Tech fully sponsored by the company. </li><li>Group Life insurance of ₹14,00,000 per annum. </li><li>Group personal accident cover of ₹12,00,000 per annum. </li></ol><cmsannotation type="cmsannotation" annotationid="Eligibility criteria for the role —" comment="subhead" text="Eligibility criteria for the role —">Eligibility criteria for the role —</cmsannotation> <ol><li>BCA or B.Sc in computer science, information technology, mathematics, statistics, electronics and physics graduates are only eligible. </li><li>Candidates should have studied Core Mathematics as one subject in graduation. </li><li>Business Maths and Applied Maths will NOT be considered as Core Mathematics in graduation. </li><li>Maximum three years of gap is allowed between grade 10 and graduation. </li><li>Graduation should be completed in three years, no gaps allowed. </li><li>All educational qualifications should be pursued full-time recognised by the Government of India. </li><li>Maximum one active backlog in graduation is allowed till the interview stage. Offers will be melted out subject to all backlog clearances. </li><li>Should be an Indian citizen or should be holding a Person of Indian Origin (PIO) or Overseas Citizenship of India (OCI) card if the candidate is holding a passport of any other country. </li><li>Candidates from Bhutan and Nepal need to submit their citizenship certificate. </li><li>Candidates who participated in the selection process held by the company in the last three months are not eligible. </li></ol><cmsannotation type="cmsannotation" annotationid="Selection procedure" comment="subhead" text="Selection procedure">Selection procedure</cmsannotation> Every eligible candidate will have to go through four stages of the selection process — online assessment (80 minutes), aptitude test (questions from verbal, analytical and quantitative sections will be asked), written communication test, and business discussion round (if selected in the online assessment round). After completion of the programme, candidates will be offered a full-time position as Senior Project Engineer with a salary starting from ₹6,00,000 per annum depending upon the performance. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/airtel-and-hughes-form-joint-venture-will-offer-satellite-broadband-service-in-india/articleshow/88705316.cms">Airtel and Hughes form joint venture, will offer satellite broadband service in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-reports-58097-fresh-covid-19-cases-in-last-one-day-omicron-tally-reaches-2135/articleshow/88705335.cms">India reports 58,097 fresh COVID-19 cases in last one day, Omicron tally reaches 2,135</a>

Wipro is hiring BCA and B.Sc grads for its Work Integrated Learning Program with a maximum stipend of ₹23,000 per month

<ul><li>NITES union has lodged a complaint against <keyword id="6354512" type="General" weightage="100" keywordseo="infosys" source="Orion">Infosys</keyword> seeking removal of their newly imposed <keyword id="1905436" type="General" weightage="20" keywordseo="non-compete-clause" source="Orion">non-compete clause</keyword>.</li><li>The clause bans the employees to work in the competitors for six months after they quit the company.</li><li>The companies included in their competitor list are — Accenture, Tata Consultancy Services (<keyword id="6357150" type="General" weightage="50" keywordseo="tcs" source="Orion">TCS</keyword>), IBM, Cognizant, and <keyword id="10862" type="General" weightage="50" keywordseo="wipro" source="Orion">Wipro</keyword>.</li></ul>An information technology (IT) union has reportedly filed a complaint against the Indian multinational IT major Infosys, on April 20. The <keyword id="13658159" type="General" weightage="50" keywordseo="nascent-information-technology-employees-senate" source="Orion">Nascent Information Technology Employees Senate</keyword> (NITES) union is seeking to remove the non-compete clause, which states that the employees cannot work for the competitor companies for six months after leaving the company. The clause also forbids the employees to join the workforce of the clients they had worked for in the last 12 months before quitting, according to the letter to minister <keyword id="1850634" type="General" weightage="50" keywordseo="bhupender-yadav" source="Orion">Bhupender Yadav</keyword>. The clause includes these companies in their competitor list — Accenture, Tata Consultancy Services (TCS), IBM, Cognizant, and Wipro. “For the period of six months after leaving Infosys, employees will not — accept any offer of employment from any customer, (with whom I worked) in the twelve months immediately preceding my termination or accept any offer of employment from a Named Competitor of Infosys, if my employment with such Named Competitor would involve me having to work with a Customer with whom I had worked in the twelve (12) months immediately preceding the termination of my employment with Infosys,” the clause says according to the letter. The letter was written by the NITES union president, Harpreet Saluja, to the minister stating that the clause violates Section 27 of the Contract Act. “They are likely to affect the employee’s means of procuring a livelihood for himself and his family. Hence the company should be stopped from enforcing it,” read the letter. <div type="Article" hostid="261" msid="90826046" title="Infosys is looking to hire 50,000 employees this year while expecting the attrition rate to come down" mstype="2" mssubtype="0"></div> Recently, <a href="https://www.businessinsider.in/tech/enterprise/news/infosys-is-looking-to-hire-50000-employees-this-year-while-expecting-the-attrition-rate-to-come-down/articleshow/90826046.cms">Infosys</a> also witnessed the highest level of attrition rate in the company as compared to its competitors. Its attrition worsened in the January-March quarter reaching 27.7% from 25.5% in the previous quarter. However, the management at Infosys said the attrition rate has come down on a quarterly basis as against the LTM (last twelve months) data disclosed. Moreover, it expects the attrition rate to decline gradually as it also kicks off hikes from April 1. The company is looking to hire more than 50,000 employees in FY23 as against the 85,000 hired in FY22. Infosys has an employee base of 3.14 lakh, which is half of what TCS has. The company’s net profit for the March quarter rose about 12% to ₹5,686 crore with revenue growth of 22.7% year-on-year at ₹32,276 crore. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-lost-five-times-more-subscribers-than-vodafone-idea-in-the-last-six-months/articleshow/90953214.cms">Reliance Jio lost five times more subscribers than Vodafone Idea in the last six months</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/covid-19-cases-are-on-a-rise-again-but-indians-are-likely-to-increase-socialising-and-travelling-survey/articleshow/90950991.cms">COVID-19 cases are on a rise again, but Indians are likely to increase socialising and travelling: Survey</a>

Infosys faces backlash over new clause restricting employees from finding a new job

<ul><li>In recent years, HR management has gained prominence across all industries.</li><li>According to Naukri Jobs Speak, hiring of HR or Administration professionals was significantly high by 31% in the month of June, 2021 as compared to June, 2020.</li><li>Business Insider brings you various job openings in marquee companies for HR roles across the country.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>When it comes to handling employees and taking care of their interests, human resource (HR) professionals are indispensable. In recent years, HR management has gained prominence across all industries. According to Naukri Jobs Speak, hiring of HR or Administration professionals was significantly high by 31% in the month of June, 2021 as compared to June, 2020. Business Insider brings you various job openings in marquee companies for HR roles across the country. 1. Tata Communications Indian telecom company is looking out for a Human Resources professional in its New Delhi office. Eligibility — Post Graduation or Specialization in HR with 4-7 years of relevant experience Key responsibilities — Drive the execution of plans, policies related to recruitment, steer operational activities related to employee engagement and issues. Interested candidates can apply <a href="https://jobs.tatacommunications.com/job/New-Delhi-Manager-Human-Resources-23001/761361000/?utm_campaign=google_jobs_apply&amp;utm_source=google_jobs_apply&amp;utm_medium=organic">here</a>. 2.Accenture The multinational consulting company is recruiting Human Resources Associate for the Noida office. Eligibility — 0-1 year of experience with graduation in any discipline. Freshers can also apply. Key responsibilities — The chosen candidate will work closely with the HR team to support the lateral recruitment of the company.The candidate will also be responsible to deliver talent across the regions with the help of the team. Interested freshers can apply <a href="https://www.accenture.com/in-en/careers/jobdetails?id=91453_india_2&amp;utm_campaign=google_jobs_apply&amp;utm_source=google_jobs_apply&amp;utm_medium=organic">here</a>. 3. Vistara Airlines The TATA owned Airlines are looking out for a Human Resources Executive for their Gurgaon office. Eligibility — 2-4 years of relevant experience with graduation from a recognized university. HR and Payroll experience is mandatory. Key responsibilities — Handle HR related tractions like onboarding or exit formalities, HRM data entry. Coordinate with the employees and team regarding queries, tasks and so on. Candidates who are interested can apply <a href="https://careers.airvistara.com/job/Executive-Human-Resources/4054944/?utm_campaign=google_jobs_apply&amp;utm_source=google_jobs_apply&amp;utm_medium=organic">here</a>. 4. Amazon E-commerce giant is hiring Senior Human Resources Partner in their Gurgaon office. Eligibility — Applicants must have 8-14 years of relevant experience in Human Resources Business Partners (HRBP) domain with MBA or Master’s degree in HR/ Social Work from B school. Key responsibilities — Identify trends and recommend solutions for better performance, retention and employee experience. Implement corporate policies/ procedures. Interested candidates may apply <a href="https://in.linkedin.com/jobs/view/sr-hr-business-partner-at-amazon-2473921253?utm_campaign=google_jobs_apply&amp;utm_source=google_jobs_apply&amp;utm_medium=organic">here</a>. 5. Wipro The Indian multinational corporation is hiring Human Resources Executive (HRE) for the Gurgaon office and Senior Executive Recruiter (SER) for the Kolkata office. Eligibility for HRE for Gurgaon office — 0-1 year experience in the relevant field. Freshers can also apply. Key responsibilities for HRE — Create solutions for deliverables and communication channels. Interested candidates for HRE role can apply <a href="https://careers.wipro.com/careers-home/jobs/2594454?lang=en-us&amp;previousLocale=en-US">here</a>. Eligibility for SER for Kolkata office — MBA/ Post Graduation/ Graduation in Human Resources Key responsibilities for SER — Manage the team effectively, meet the set targets as per recruitment plan, develop strategy plan for recruiting. Interested candidates interested in the SER role can apply <a href="https://careers.wipro.com/careers-home/jobs/2684479?lang=en-us&amp;previousLocale=en-US">here</a>. 6.Boston Consulting Group American management consulting firm is recruiting a Human Resources Associate in New Delhi. Eligibility — 4-6 years of experience as an HR in service industry with Post Graduation/ MBA in HR from Tier 1 or Tier 2 college/ institute. Key responsibilities — Maintain and update CDC database, plan, implement the bi-annual career for PPL Cohort. Interested candidates can apply <a href="https://sjobs.brassring.com/TGnewUI/Search/home/HomeWithPreLoad?PageType=JobDetails&amp;partnerid=25811&amp;siteid=5185&amp;jobid=631456#jobDetails=631456_5185">here</a>. 7. Max Life Insurance Company The life insurance company of India is calling out Chief Human Resource Manager in Gurugram. Eligibility — Experience and knowledge about various HR and Talent management processes, worked on at least three implementations or in one support project. Key responsibilities — Train the team and mentor the associates, finalizing and implementing HR processes for the project. Candidates who are interested can apply on this <a href="https://in.linkedin.com/jobs/view/chief-manager-human-resource-sap-at-max-life-insurance-company-limited-2672601873?utm_campaign=google_jobs_apply&amp;utm_source=google_jobs_apply&amp;utm_medium=organic">link</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/banking-jobs-hdfc-axis-icici-and-other-banks-are-hiring-across-the-country/articleshow/84666214.cms">Banking jobs: HDFC Bank, Axis Bank, ICICI Bank and more are hiring across the country for various roles</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/education/news/these-are-some-of-the-universities-that-offer-free-education-for-international-students/slidelist/84463712.cms">Planning to study abroad? These are some of the universities that offer a free education for international students</a>

Tata, Vistara, Wipro and many more are hiring for HR roles

<ul><li>The company has earlier intended to hire 34,000 employees by March 2022 but it has completed that target by December itself.</li><li>TCS has reported an attrition rate of 15.3%, which is lowest when compared to peers <keyword id="10862" type="General" weightage="50" keywordseo="wipro" source="Orion">Wipro</keyword> and <keyword id="6354512" type="General" weightage="50" keywordseo="infosys" source="Orion">Infosys</keyword>.</li><li>To retain top talent, TCS has ramped up promotions. After 110,000 promotions till December 2021, it plans another 40,000 before March.</li><li>Check out our <a href="https://www.businessinsider.in/bi-newsletter">weekly explainers</a> on the hottest topics and <a href="https://www.businessinsider.in/newsletters_signup.cms">sign up</a> if you like them.</li></ul>India’s largest software exporter, <keyword id="6357585" type="General" weightage="20" keywordseo="tata-consultancy-services" source="Orion">Tata Consultancy Services</keyword> (TCS), whose employee count recently completed a milestone of 2,00,000, continues to be aggressive in hiring amidst a crazy battle for technology talent . TCS had earlier said that it would hire an additional 34,000 freshers by March but it has already met that target by December. The company will continue to hire between January to March quarter as well, however, no particular target has been set. “Our hiring intensity will continue but we don’t have any particular number for the coming quarter,” Milind Lakkad, Chief Human Resources Officer at TCS, highlighted during the media briefing. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quarter </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of freshers hired </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April to September </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">43,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">October to December </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">34,000 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> TCS has reported an attrition rate of 15.3%, which is lowest when compared to peers <a href="https://www.businessinsider.in/careers/news/wipro-plans-to-hire-30000-freshers-in-2023-as-attrition-rate-increases-to-22/articleshow/88855676.cms" data-type="tilCustomLink">Wipro</a> (22.7%) and <a href="https://www.businessinsider.in/careers/news/the-attrition-at-infosys-is-worse-than-that-[…]s-increased-hiring-plan-by-10000/articleshow/88856648.cms" data-type="tilCustomLink">Infosys</a> (25%), in the quarter ending December 2021. However, it hired a net of 28,000 new employees in the last three months, the highest ever in the company’s history. <div type="image" title="TCS attrition rate" msid="88858294" hostid="261" caption="&amp;lt;p&amp;gt;TCS attrition rate&amp;lt;/p&amp;gt;"></div> Attrition is used to describe the rate at which employees are leaving the company. To battle the fast pace at which employees are moving on for better opportunities, TCS has increased the pace of promotions as well. As part of its earnings release, the management said that it had given 110,000 promotions this financial year till December, and another 40,000 are on the cards in the remaining three months. <div type="Video" msid="85123846" hostid="261" title="There was never a better time to be a techie in India" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=85123846"></div> The higher salaries, incentives and cost of hiring and retaining top talent has taken a toll on the profit margins of TCS, just as in the case of Infosys and <a href="https://www.businessinsider.in/careers/news/wipro-plans-to-hire-30000-freshers-in-2023-as-attrition-rate-increases-to-22/articleshow/88855676.cms" data-type="tilCustomLink">Wipro</a>. Operating margin fell to 25% compared to 26.6% three months ago. The company believes that the attrition pressure may be bottoming out. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/the-attrition-at-infosys-is-worse-than-that-at-wipro-ceo-salil-parekh-has-increased-hiring-plan-by-10000/articleshow/88856648.cms">The attrition at Infosys is worse than that at Wipro, Salil Parekh has increased hiring plan by 10,000</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/wipro-plans-to-hire-30000-freshers-in-2023-as-attrition-rate-increases-to-22/articleshow/88855676.cms">Wipro increases hiring plan to 30,000 as attrition hits a new high</a>

TCS completes its fresher hiring target three months ahead of schedule but it’s not done yet

<ul><li><keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword> saw its attrition increase from 11% to 12.1% over the last three months, ending March 31.</li><li>The IT giant’s chief human resources officer (CHRO) believes that the churn in employees is likely to keep increasing between April to June.</li><li>Analysts believe the second wave of outsourcing is upon the information technology (IT) sector and demand is likely to keep increasing for the next one year at least.</li></ul>Wipro saw an uptick in employees walking out the doors between January and March as compared to the previous quarter. While 12% is the industry average, the company believes that things aren’t going to ease up anytime soon. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/5865143"></div>]]></cdata></div> “Given the growth environment in the industry, we see attrition. We see continued pressure. We see attrition picking up in the first quarter [April to June],” said Saurabh Govil, Wipro’s chief human resources officer (CHRO) during the earnings call. There has been an explosion of opportunities in the information technology (IT) services sector as more companies look to become more digital-friendly. It’s not just Wipro, but Infosys too saw its attrition rate spike from 10% to 15% in the last three months, ending March 31. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/5865121"></div>]]></cdata></div> According to analysts, a second wave outsourcing is upon us. The <a href="https://www.businessinsider.in/tech/enterprise/news/rise-in-work-from-anywhere-will-lead-to-more-outsourcing-thats-an-opportunity-for-tcs-infosys-and-hcl-tech/articleshow/77864248.cms">demand for talent is high</a> and the supply pool, while ample, lacks specialisation in growing areas like the internet of things (IoT), cloud services and other arenas. Companies like Wipro, Infosys and TCS <a href="https://www.businessinsider.in/tech/enterprise/news/three-ways-tcs-infosys-and-other-it-giants-in-india-are-trying-to-cut-costs-but-its-not-going-to-increase-their-profitability/articleshow/76021884.cms">seem to be okay with that</a>. They pick up a large number of freshers every year and train them within the company for the roles these graduates need to fill. “Our hiring on campuses will be much more robust than what we have done in FY 21. We will continue to hire laterally across the globe. We will continue to invest in domain and specific skill sets,” explained Govil. However, there’s no guarantee that these employees won’t leave once a better offer comes along — especially if it's from another big wig competitor. <div type="Article" hostid="261" msid="82085345" title="Wipro showcases best Q4 results in a decade and eyes double digit growth next year" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="IT companies are wooing employees to stay with wage hikes and promotions" comment="subhead" text="IT companies are wooing employees to stay with wage hikes and promotions">IT companies are wooing employees to stay with wage hikes and promotions</cmsannotation> “We see that there will be pressure on us, but the efforts that we have called out will help us sustain and control attrition, and will not impact our growth agenda,” said Govil. In <a href="https://timesofindia.indiatimes.com/business/india-business/wipro-to-roll-out-pay-hikes-from-january-1/articleshow/79616441.cms">December</a> last year, the IT giant announced wage hikes for junior employees from January 1. All other employees of Wipro will receive their increments in June, ‘as is usual practice’. For instance, Infosys revealed that its wage hikes will be announced in July. While wage hikes are a good way to retain employees, it does take a marginal toll on a company’s operating margin. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/wipro-showcases-best-q4-results-in-a-decade-and-eyes-double-digit-growth-next-year/articleshow/82085345.cms" id="docs-internal-guid-14500995-7fff-e658-fe9e-22ceb248aadc">Wipro showcases best Q4 results in a decade and eyes double digit growth next year</a>

Wipro fears it may lose its employees to competitors as there is an explosion of IT jobs

<ul><li><keyword id="6358815" type="General" weightage="80" keywordseo="tech" source="Orion">Tech</keyword> majors like <keyword id="12873900" type="General" weightage="20" keywordseo="wipro-tech-mahindra" source="Orion">Wipro, Tech Mahindra</keyword> and other MNCs have either put off recruitment of freshers or asked them to wait. </li><li>Experts, allaying fears of recession in US and Europe affecting IT industry in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>, state that the trend is not new.</li><li>The present trend could be the result of workability of pipeline projects. </li></ul> There is uneasiness among a major section of students whose onboarding process has been delayed by major tech companies. Tech majors like <keyword id="10862" type="General" weightage="80" keywordseo="wipro" source="Orion">Wipro</keyword>, Tech Mahindra and other MNCs have either put off recruitment of freshers or asked them to wait until they are intimated. The freshers awaiting onboarding in Wipro have launched a full fledged campaign on social media, questioning Wipro Chairman Rishad Premji's integrity and commitment as he spoke strongly about ethics in connection with moonlighting. "The career of thousands of students like me is at stake. We cleared the Wipro exam in 2021. We rejected offers from other companies. But, it's been one year and we are still not onboarded. Wipro is either delaying or rejecting without any clarification," fresher Nithin said. Another fresher <keyword id="15167860" type="General" weightage="50" keywordseo="rushikesh-rupnar" source="Orion">Rushikesh Rupnar</keyword> stated that "it's been 9 months since I received my offer letter. There is no update regarding onboarding since then. Are we a joke to them? So many students out there are waiting to join". The <keyword id="15167857" type="General" weightage="50" keywordseo="nascent-information-technology-employees" source="Orion">Nascent Information Technology Employees</keyword> Senate (<keyword id="12917180" type="General" weightage="50" keywordseo="nites" source="Orion">NITES</keyword>), an NGO working for the welfare of IT employees, stated that the trend is not confined to Wipro. "After Wipro, we have received complaints from employees of various IT companies regarding delay in onboarding. Unfortunately the CEOs bragging about work ethics and transparency are left with no humanity." "If the workers are organised, all they have to do is to put their hands in their pockets and they have got the capitalist class whipped," NITES asserted. IT firms should be held accountable for endangering the professional futures of the employees and trainees. Companies play a good game about their beliefs and ethics on the surface, but in reality, It's just crony capitalism, one of the IT job aspirants alleged. The students who have formed a group online with the "Wipro onboard us" title, stated "please update on our career, group respected <keyword id="15167858" type="General" weightage="50" keywordseo="rishadpremji" source="Orion">RishadPremji</keyword> sir please update about the onboarding of freshers, why this ego system on freshers." "I hope u r reading this reply and you got to help us soon. Wishing good health and happiness to the people who re supporting us in struggle of Wipro on-board." "Please update on our career group submitted respected RishadPremji sir we don't know how the moonlighting effected your company, but your hiring process and holding freshers on-boarding effecting the lives of 20k+ freshers. Is our lives not valuable?" NITES had also filed a complaint with <keyword id="9286293" type="General" weightage="50" keywordseo="union-ministry-of-labor-and-employment" source="Orion">Union Ministry of Labor and Employment</keyword> urging to initiate action against the Wipro for delaying onboarding of more than 2,000 students. Wipro has stated that it will honour all offer letters. However, experts, allaying fears of recession in US and Europe affecting IT industry in India, state that the trend is not new. They say since China is being hit post Corona period, India could be more resilient. The present trend could be the result of workability of pipeline projects. If pipeline projects are getting affected for various reasons, the companies will strategise their moves by holding new recruitments or withdrawing offers. "This trend is an old one and the situation is projected like it is the end of IT industry which is wrong. The focus is on adopting to new technology, which is being focussed by all major tech companies. They are doing best prepare work force for new challenges," an expert said. 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You Searched For "Wipro jobs" and got 9 results

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