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<ul class="summary-list"><li>More CEOs expect hybrid work setups will go away in the next few years.</li><li>A KPMG US survey found that 79% of big-company CEOs expect a full-time <a target="_blank" class="" href="https://www.businessinsider.com/the-resilient-office-how-workplaces-evolving-after-pandemic-2024-3">return to the office</a>.</li></ul>The bosses of big US companies are over <a target="_blank" href="https://www.businessinsider.com/hybrid-work-flexibility-not-rto-may-help-companies-boost-sales-2024-9">hybrid work</a>.This week, Amazon CEO Andy Jassy announced that most of the company's corporate workers must be <a target="_blank" href="https://www.businessinsider.com/amazon-return-to-office-mandate-bosses-morale-productivity-2024-9">back in the office</a> five days a week starting in 2025.Adding to the anti-remote vibes: a new snapshot of CEO sentiment that shows Jassy isn't alone in saying "so long, hybrid."Nearly eight in 10 CEOs expect corporate workers will be back in the office full time within the next three years, according to a recent survey of 400 chiefs of large US companies by KPMG US.The 79% of CEOs who see an eventual return to cubicle life for most workers is a big swing from a prior KPMG US survey earlier this year — when only 34% of corporate heads said they expected their teams would be back IRL five days a week.It's another sign that the <a target="_blank" href="https://www.businessinsider.com/economic-fears-job-cuts-employers-less-flexible-with-workers-2024-8">RTO fights</a> aren't over and that some pandemic-era work norms might prove as ephemeral as social distancing and mask mandates on planes.Paul Knopp, chair and CEO at KPMG US, said the survey results indicate that CEOs believe they can speed the development and mentoring of their employees when people are face to face more often.Yet he also told Business Insider — before Amazon's RTO announcement — that while the survey showed a clear swing in sentiment, that hasn't necessarily translated into widespread action. Even if offices begin to look more like they once did, Knopp said, many workers will enjoy more autonomy than they had in the before times."There's still likely to be a lot of flexibility," he said. That might look like working fewer evening hours, showing up a little later in the morning, or not at all on weekends, Knopp said.<h2 id="6d1ac96f-f135-40dd-a159-3a87960cf709">Most CEOs expect hybrid will fade</h2>In the survey, which was conducted between mid-July and late August, 17% of chiefs predicted their people would work in hybrid setups in the next few years, and only 3% said they expected their workers to be fully remote."There's definitely a strong sentiment to want more in-person interaction — more human connection — with the notion that that can help both employees and employers," Knopp said.One challenge around splitting time between home and work is that, unlike being in the office or remote full time, there's not one agreed-upon setup, he commented."The most complicated or complex working environment to actually orchestrate or pull off is hybrid," he said.Young people at the start of their careers might want to be <a target="_blank" href="https://www.businessinsider.com/gen-z-workers-want-flexibility-fair-pay-survey-2024-5">in the office</a>, as some surveys have shown. But working parents, for example, might want more time at home, Knopp said.He said those types of concerns could lead to attrition."If I have people back in the office more, do I take a risk that I'm not going to be able to attract and retain the talent that I want?" Knopp said. "We're trying to calibrate all these risks constantly."If an organization starts to lose key people, he said, leaders might walk back RTO demands.Attrition is one concern that Stanford economist Nicholas Bloom previously shared with BI. His <a target="_blank" class="" href="https://www.businessinsider.com/amazon-return-to-office-mandate-bosses-morale-productivity-2024-9">research found</a> that demanding employees show up more could drive away some workers.In a study involving <a target="_blank" href="http://Trip.com">Trip.com</a>, Bloom and his collaborators found that when the travel company cut its in-office requirement to three days a week from five, the rate of workers quitting dropped by about one-third. That can be good news for companies because many times, the ones who leave are the ones bosses are sorry to see go, he said."Often the best employees leave as they have the best outside options," Bloom said.<h2 id="a9918096-80f4-4df9-ac91-502bee0300da">GenAI will require that workers add skills</h2>The KPMG US findings also highlighted that many bosses are worried about the aging workforce and the risks that brings to recruiting, keeping employees, and overall culture. About one in three CEOs said retirements and a lack of skilled replacements would have a big effect on their company.The results come in a year in which Gen Z has <a target="_blank" href="https://www.glassdoor.com/blog/workplace-trends-2024/">overtaken baby boomers</a> among full-time US workers.CEOs also said the rise of technologies like generative artificial intelligence will necessitate that workers get training. Eight in 10 chiefs agreed that companies should invest in skills development and "lifelong learning" in communities to maintain access to talent in the future.About seven in 10 CEOs said GenAI wouldn't have a big impact on the number of employees at their company — contrary to concerns that the technology will be a <a target="_blank" href="https://www.businessinsider.com/ai-threaten-jobs-of-coders-who-dont-shift-their-focus-2024-9">job-killer</a>. In fact, 27% of top bosses said GenAI would create more jobs than it destroys.Knopp said AI is already taking over some routine tasks and freeing workers to do other things. It can also help compensate for what's lost when workers retire."You want to mitigate it through technology," he said. "We're going to mitigate it through upskilling, reskilling."<h2 id="b272c792-3f37-4216-9eb4-5a92a8c342ea">More reasons to invest in tech</h2>The survey found that those in charge have big hopes for GenAI. CEOs are looking to the technology to boost efficiency and productivity by automating routine tasks, helping train workers, and promoting innovation.Nearly seven in 10 leaders said GenAI is a top investment priority, especially in IT, sales and marketing, and finance and accounting.Other investments around the tech are likely to be more defensive. Only 54% of CEOs reported that their companies were "well-prepared" for a cyber attack. Just more than one in three said they weren't sure whether their company's cyber defenses could keep pace with AI. About seven in 10 said they were increasing spending on cybersecurity to help fend off AI threats.Given all the changes leaders expect AI will bring, it makes sense for workers to become proficient with it, Knopp said."The people that have generative AI and AI skills are going to have a big advantage in the marketplace over those that don't," he said.

CEOs of big US companies are souring on hybrid work

<ul class="summary-list"><li><keyword id="20781003" type="General" weightage="20" keywordseo="Klarna" source="keywords" meta.keywordsubtype="org" meta.entityname="Klarna" meta.hostid="261" meta.entityid="Klarna">Klarna</keyword> CEO <keyword id="23150803" type="General" weightage="20" keywordseo="Sebastian-Siemiatkowski" source="keywords">Sebastian Siemiatkowski</keyword> said that he plans to reduce the company's workforce by half.</li><li>He said the company can "do much more with less" through <keyword id="19904566" type="General" weightage="20" keywordseo="artificial-intelligence" source="keywords">artificial intelligence</keyword>.</li></ul>Klarna plans to employ half the people it did last year, betting on artificial intelligence to enhance efficiency and cut costs. CEO Sebastian Siemiatkowski said in a statement to the <a href="https://www.ft.com/content/bfd9af3d-d607-4877-9571-078ab82a837e" target="_blank">Financial Times</a> that the company could operate effectively with half its current staff, which numbered about 4,000 at the end of June. Siemiatkowski s<keyword id="19899640" type="General" weightage="20" keywordseo="AI" source="keywords">ai</keyword>d the company can "do much more with less" using AI. The Swedish <keyword id="20050492" type="General" weightage="20" keywordseo="buy-now-pay-later" source="keywords">buy-now-pay-later</keyword> company lost about 24% of its staff in the last year, per its annual report. Spokesman Joel Hedin told Business Insider those losses were "natural attrition" and that with the company's hiring freeze, "headcount is gradually decreasing." Last year, Klarna halted hiring for most positions outside its engineering team as it increasingly relied on AI technology to fill gaps left by departing staff. He added that the marketing team had been more productive, working with half its size compared to the previous year. Last year, Klarna <a target="_blank" href="https://www.businessinsider.com/klarna-ai-chatbot-work-700-people-2024-2">halted</a> hiring for most positions outside its engineering team as it increasingly relied on AI technology to fill gaps left by departing staff. In a February blog <a target="_blank" class="" href="https://www.klarna.com/international/press/klarna-ai-assistant-handles-two-thirds-of-customer-service-chats-in-its-first-month/">post</a>, the company claimed its AI assistant could handle the workload of 700 full-time employees. Klarna said that the chatbot outperformed human agents in "errand resolution" accuracy and matched human employees in customer satisfaction levels. Klarna also projected that this technology could boost the company's profits by $40 million this year. Meanwhile, Klarna competitor Affirm is also doubling down on AI chatbots — but isn't publicly seeking to cut its staff. "No one has yet to lose their job to be replaced by robot at Affirm, so that's not a short-term cost saving," CEO Max Levchin said on a <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-prefers-ai-chatbots-phone-calls-affirm-ceo-bnpl-2024-5">May earnings call</a>, adding that AI could save the company money over the next one to three years. <h2>AI shakes up tech staff</h2>Other tech companies are axing staff as they transition to AI-centric businesses. Earlier this month, <a target="_blank" href="https://www.businessinsider.com/dell-layoffs-ai-strategy-workers-more-effective-jobs-fulfilling-2024-8">Dell</a> announced the significant restructuring of its sales division, resulting in mass layoffs. Tech companies, including Google and Apple, have laid off over 350,000 workers since the beginning of 2023, according to data from online tracker <a target="_blank" href="http://Layoffs.fyi">Layoffs.fyi</a>. While many of these layoffs were attributed to overhiring during the pandemic, the need to reallocate capital for AI investments is also a significant factor for the layoffs. Meta CEO Mark Zuckerberg <a target="_blank" href="https://www.businessinsider.com/ai-job-losses-spending-new-tech-meta-google-amazon-layoffs-2024-7">said</a> in a February earnings call that layoffs were necessary to invest in "long-term, ambitious visions around AI." Google CEO Sundar Pichai also <a target="_blank" href="https://www.businessinsider.com/google-ceo-says-more-layoffs-to-come-2024-1">wrote</a> in a January memo that job cuts were needed to "create the capacity for investment" in AI. Klarna had credited an improvement in its <keyword id="20088085" type="General" weightage="20" keywordseo="financial-performance" source="keywords">financial performance</keyword> to AI, with net losses declining from 854 million Swedish Krona, around $84 million, during the second quarter of 2023, to 10 million Krona, around $900,000, in the most recent quarter. The company also reported a 27% increase in revenue and a 73% increase in revenue per employee over 12 months. Klarna is gearing up for an <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> as early as next year, although Siemiatkowski told the FT that the company has not made any IPO decisions yet. Klarna did not respond to a request for comment by BI sent outside standard business hours. Correction: August 28, 2024 — This story has been updated with a more exact headcount change and to specify why Klarna lost staff in the last year. After publication, a Klarna representative told Business Insider that the loss — about 24% of staff — came from natural attrition.

Klarna only needs half its staff, because AI lets the buy-now-pay-later company 'do much more with less'

<ul class="summary-list"><li>Spotify's HR chief told Raconteur that the company will maintain its work-from-anywhere policy.</li><li>Spotify saw a 15% lower attrition rate and increased workplace diversity in 2022 after implementing its policy.</li></ul>Amazon might be <a target="_blank" class="" href="https://www.businessinsider.com/amazon-workers-blast-strict-rto-mandate-five-days-week-2024-9">ordering employees back to the office</a> 5 days a week, but don't expect Spotify to follow suit.Spotify's chief human resources officer, Katarina Berg, reaffirmed the company's work-from-anywhere (WFA) policy in a recent <a target="_blank" class="" href="https://www.raconteur.net/talent-culture/spotify-chro-office-return-layoffs-hr-role">interview</a> with Raconteur on Monday, saying that "work is not a place you come to, it's something you do" — echoing the <a target="_blank" class="" href="https://www.lifeatspotify.com/being-here/work-from-anywhere">company's past sentiment</a>."You can't spend a lot of time hiring grown-ups and then treat them like children," Berg said.The digital music platform <a target="_blank" href="https://hrblog.spotify.com/2021/02/12/introducing-working-from-anywhere">first introduced</a> its WFA policy in February 2021, which allowed employees to work full-time from home, in the office, or create a hybrid schedule with their manager.Spotify also expanded its flexibility regarding the countries and cities employees can work from, even for locations that are not near a physical office.Berg said some employees prefer office work, and the company will continue to have physical offices and a "core week" where teams are encouraged to meet up in person.And employees seem to have responded well. Just a year after the new WFA initiative, the company saw a 15% lower attrition rate in the second quarter of 2022 compared to the same period in 2019, a six-day drop in its time to hire, and increased workplace diversity, Fortune <a target="_blank" class="" href="https://fortune.com/2022/08/02/spotify-allowed-6500-employees-work-from-anywhere-in-world-turnover-rate-dropped-remote-work/">reported</a> at the time.But the remote-first approach does introduce challenges, Berg acknowledged, saying that it is "harder" to collaborate virtually. Those concerns have led Spotify to work with the Stockholm School of Economics to further research the effects of remote work on innovation and participation."But does that mean that we will start forcing people to come into the office as soon as there is a trend for it? No," Berg told Raconteur.Spotify's latest reaffirmation of its WFA policy bucks the current trend of companies pushing to get employees in the office more days a week. As COVID-19 restrictions have eased, <a target="_blank" class="" href="https://www.businessinsider.com/companies-requiring-return-to-office-rto-mandate">several major companies</a> have started backpedaling on the hybrid schedule policies they embraced during the pandemic.Workplace attendance has increased to an average of 3 days a week, <a target="_blank" class="" href="https://www.businessinsider.com/return-to-office-attendance-increase-5-days-mondays-fridays-data-2024-9">according to a study</a> published in September by water cooler company Bevi. In addition to Amazon's announcement that it expected employees back in the office starting in January, companies like Goldman Sachs and JPMorgan have enforced a fully in-person schedule. Other companies with hybrid schedules, including Meta, have cracked down on enforcing the change by threatening to <a target="_blank" 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.">track office</a><a target="_blank" class="" 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."> attendance</a>.Many executives and leaders have attributed their RTO mandates to increased productivity and collaboration when employees work together in the office.Mark Zuckerberg, for example, said that performance data from Meta showed that "people who work from home are not efficient and engineers who come to the office get more work done."<a target="_blank" class="" href="https://www.businessinsider.com/jpmorgan-return-to-office-memo-managing-directors-2023-4">In an April 2023 memo</a> to employees, JPMorgan CEO Jamie Dimon said that most professionals use an apprenticeship model to learn their job, "which is almost impossible to replicate in the Zoom world.""Over time, this drawback could dramatically undermine the character and culture you want to promote in your company," Dimon added.The RTO mandates have caused <a target="_blank" class="" href="https://www.businessinsider.com/amazon-workers-blast-strict-rto-mandate-five-days-week-2024-9">heated pushback</a> from many employees, including at Amazon. Workers at other companies, including Disney, have even <a target="_blank" class="" href="https://www.businessinsider.com/disney-employees-petition-against-working-four-days-in-office-2023-2">signed petitions</a> in an attempt to get companies to reconsider.Amazon CEO Andy Jassy said in September that, "we continue to believe that the advantages of being together in the office are significant."

Spotify's HR chief says the company won't be following Amazon and others in return-to-office trend

<ul class="summary-list"><li>Ferring Pharmaceuticals, a Swiss biopharma firm, focuses on worker well-being and DEI.</li><li>Purvi Tailor, head of human resources in its US business, is on BI's <a target="_blank" class="" href="https://www.businessinsider.com/workforce-innovation-board-tackles-topics-such-as-c-suite-innovation-ai-worker-wellness-2024-8">Workforce Innovation board</a>.</li></ul>A lot of companies say they are like a family, but at Ferring Pharmaceuticals, a privately owned biopharmaceutical company headquartered in Switzerland, family-centrism is part of doing business."In the US, we are a leader in several therapeutic areas, including reproductive medicine, orthopedics, and gastroenterology," said Purvi Tailor, Ferring's head of human resources in the US. "Our mission is to help people build families and live better lives. It's a purpose that the employees that work here can feel very connected to."Tailor joined Ferring in 2021 following roles at Johnson &amp; Johnson, American Express, and JP Morgan.She said that Ferring has grown more intentional about focusing on worker well-being, which is particularly important for the highly competitive field of healthcare. "The war for talent is always on and the best talent always have options," she said.The following interview has been edited for length and clarity.What are the benefits for companies focused on worker well-being?Our overarching philosophy is that if our workers have a good sense of <a target="_blank" class="" href="https://www.businessinsider.com/flexibility-can-increase-worker-well-being-2024-8">well-being</a>, ultimately, it helps our business be that much more successful. We've defined well-being in a <a target="_blank" class="" href="https://www.businessinsider.com/employee-wellbeing-programs-help-companies-perform-better-and-manage-cost-2024-7">holistic way</a>, so it's not just about physical well-being; it's also about mental well-being and financial well-being. We've implemented various initiatives in the last two to three years that focus on each of those.You can provide a lot of tools and resources, but if you don't have the right culture within the company that people are experiencing, that obviously has a much more detrimental impact on employee experience. So, our approach is twofold. First, the benefits and the policies. And second, creating the right type of workplace that people want to be a part of.What specific programs are targeting diversity, equity, and inclusion?Relative to other companies that I've worked for, in some ways we've had the luxury to start a little bit later. Whereas some companies have been doing this for 20 years, for us it became more of a burning platform over the last couple of years.Since Covid and all the various things that have happened since, having an inclusive culture has really become one of the more important things for us.Because inclusion is something that can be very personal and difficult, we're partnering with an external event vendor to create smaller group experiences. We put a lot of things on the table and really try to make it an inclusive environment for understanding, sharing stories, and talking about different scenarios that happen in the workplace.We used scenarios that we've seen either happen at Ferring or outside, but real, lived, everyday kind of things that actually happen. Leaders found that really meaningful because it gave them an opportunity in a very safe environment to explore those situations and recognize them when they see them.The goal is to make sure that when they go back to their offices or desks, they're like, 'Okay, actually, I'm gonna be able to use that as I start to see things.'As Ferring has grown in the US, you've had to start many programs from scratch. What advice do you have for other companies that are just getting started thinking about DEI and worker well-being initiatives?What's really important is to ensure that whatever you're doing, you can connect it with the values of your company.With all of the various things that we're doing, especially in the wellness and DEI space, they align well with our values and our mission of helping people live better lives. It needs to come from an authentic place. Because it's sort of obvious when people are faking it.Our head of DEI in the US has so much passion for this space, and that really drives her as an individual and her purpose. The quality of what she puts out is remarkable, and she's able to create the right narrative that employees and leaders who are in positions to share it are able to grab some of that enthusiasm.What policies demonstrate your focus on worker well-being?One of the biggest things we've done in the last two years is a fertility benefit program called Building Families at Ferring with unlimited financial support for your journey, whether that's IVF, surrogacy, or adoption. So it covers all the many pathways that people could take to build a family.It also offers 26 weeks of paid parental leave and the policy is agnostic of your marital status and your family structures. It's truly a benefit for all that want to build a family.It's so core to our business. We thought we needed to give back to employees in the same way that we want to show up in the marketplace.What workforce issues are commonplace in the pharmaceutical industry?Attrition is systemic; it's just the norm. Over the last few years, we've managed to really stabilize the organization from an attrition perspective more so than we ever have in the previous five years.For us, retention of our talent is critical, as I know it is for all companies. You want to retain the best and make sure that they're developing and getting to whatever their aspirations are. Pharma is very competitive.We recently launched a uro-oncology business, and in the early part of this year, we hired about 60 people with roles across functions, including sales, marketing, finance, and medical. If the pharma market is generally very competitive, oncology is even more so. The things that we can do to make this a great place to work are a big part of how we approach that piece of talent management.

In the competitive world of pharma, companies need to focus on worker well-being to retain top talent, says Ferring's HR exec

COVID-19 has changed the way the world works, quite literally. About 100 million people worldwide now spend a mix of days at home and in the office each week, more than four years after the pandemic lockdowns upended traditional job routines. Yet, a significant question remains unresolved: Is letting employees <keyword id="20231207" type="General" weightage="20" keywordseo="work-from-home" source="keywords">work from home</keyword> a couple of days a week actually beneficial for productivity, <keyword id="20154404" type="General" weightage="20" keywordseo="job-satisfaction" source="keywords">job satisfaction</keyword> and career progression? <keyword id="22043671" type="General" weightage="20" keywordseo="Nicholas-Bloom" source="keywords">Nicholas Bloom</keyword>, a prominent Stanford economist, has provided compelling insights into this ongoing debate, suggesting that <keyword id="10310934" type="General" weightage="100" keywordseo="hybrid-work" source="Orion">hybrid work</keyword> schedules can be mutually advantageous for employees and their companies. <cmsannotation type="cmsannotation" annotationid="The Trip.com trials" comment="subhead" text="The Trip.com trials">The Trip.com trials</cmsannotation> At the heart of Bloom’s research is an experiment conducted by Trip.com, one of the world's leading online travel agencies, back in 2021. Involving 1,600 employees from various backgrounds, the study split participants based on their birthdates into groups working full-time in the office and those adopting a hybrid model. The research team analysed their performance and promotion data over two years, focusing on productivity and work quality comparisons between these groups. The analysis revealed that employees working remotely for two days each week matched the productivity levels and promotion rates of their counterparts who remained in the office full-time. Additionally, the experiment highlighted a notable decrease in employee turnover. Those who switched to a hybrid schedule saw a 33% reduction in resignations, with the most significant retention observed among women, non-managers and long-commute workers. This reduction in turnover minimised attrition, translating into cost savings worth millions of dollars for Trip.com. “The results are clear: Hybrid work is a win-win-win for <keyword id="21311443" type="General" weightage="20" keywordseo="employee-productivity" source="keywords">employee productivity</keyword>, performance and retention,” said Bloom, who holds the William D. Eberle Professorship of Economics at Stanford and is also a senior fellow at the Stanford Institute for Economic Policy Research (SIEPR). <cmsannotation type="cmsannotation" annotationid="What’s with the hybrid hesitation?" comment="subhead" text="What’s with the hybrid hesitation?">What’s with the hybrid hesitation?</cmsannotation> Hybrid work continues to have its fair share of critics, notable among which are Elon Musk, head of Tesla, SpaceX and X, and Jamie Dimon, CEO of JPMorgan Chase. They have argued that remote work, in any form, undermines employee training, innovation and company culture. According to Bloom, the issue with such critics is that they often confuse hybrid schedules with fully remote work, leading to mixed perceptions. Most research has targeted jobs that don’t necessitate office presence, like customer support or data entry, where the findings are inconsistent and often lean negative. Bloom believes the issues with such completely remote work primarily emerge from poor management. Unlike previous studies, Bloom’s research is the most extensive examination of hybrid work among university-educated professionals to date. It uses a randomised controlled trial approach, allowing the researchers to link the observed benefits directly to Trip.com’s <keyword id="20445439" type="General" weightage="20" keywordseo="hybrid-work-model" source="keywords">hybrid work model</keyword>, rather than external factors. “If managed right, letting employees work from home two or three days a week still gets you the level of mentoring, culture-building, and innovation that you want. From an economic policymaking standpoint, hybrid work is one of the few instances where there aren't major trade-offs with clear winners and clear losers. There are almost only winners,” Bloom concluded. Reflecting on these findings, Trip.com has fully embraced hybrid work across the company, signalling their support for this progressive work arrangement. The study was recently published in the journal Nature and can be accessed <a href="https://www.nature.com/articles/s41586-024-07500-2">here</a>.

Hybrid work model boosts employee productivity, career growth and loyalty to company, Stanford study concludes

Here’s how attrition and wage costs are dampening Indian IT companies’ results

<ul><li>One of the top five IT services companies, <keyword id="43217" type="General" weightage="20" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword> reported a 25% decline in net profit for April-June quarter.</li><li>The management attributed the decline in profitability to rising employee benefits costs, which includes promotions and salary hikes.</li><li>However, high spending towards retaining employees by giving hikes and promotions has paid off the firm’s attrition rate, which has come down to 22% from 24% last quarter.</li><li>Tech Mahindra’s attrition is still better than peers Infosys (28.4%) and TCS (23.3%).</li></ul>A fourth of Tech Mahindra’s first quarter revenues were eaten up by employee expenses, pushing its profits down by 25% on a sequential basis. The company’s CEO C P Gurnani says that this wage hike has reduced its attrition by 2% from last quarter, and predicts that it will reduce by another 4% in six months. But when asked for specifics, he said, “Attrition is as hard to predict as death,” at the post-earnings press conference. Its total income grew marginally by around 3% to ₹12,830 crore sequentially. Its constant currency revenue growth stood at 3.5%, the company said in its press release. “We are confident that we will be presenting to you continuously over the next few quarters industry leading growth. We are also confident that we will have an opportunity to work on the profitability levers,” said Gurnani. High spending towards retaining employees by giving hikes and promotions has aided as Tech Mahindra’s attrition rate has come down to 22% from 24% last quarter. If it’s able to keep up with its predictions, in the next two quarters, it could come down to 18%. Tech Mahindra’s attrition is still better than peers Infosys which is at 28.4% and that of TCS at 23.3%. Tech Mahindra’s expenses shot up 30% on year and 7% sequentially in June quarter to ₹8,937 crore and most of it was due to wage hikes, promotions and more. <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;">Employee benefit expenses </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;">Amount </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;">Q1 FY23 </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;">₹3,286 crore </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;">Q4 FY22 </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;">₹2,945 crore </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;">Q1 FY22 </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;">₹2,601 crore </td></tr></tbody></table> “Delivery transformation, cost optimization and cash conversion will be key focus areas, as we continue to offset the strong supply side headwinds in the market. We aim to expand our profitability through operational excellence and improved operating metrics over the course of FY’23,” Rohit Anand, chief financial officer at Tech Mahindra said. <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;">Particulars </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;">Q1 FY23 </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;">Q4 FY22 </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;">Q1 FY22 </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;">Revenue </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;">₹12,830 crore </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;">₹12,436 crore </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;">₹10,484 crore </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;">Net profit </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;">₹1,147 crore </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;">₹1,545 crore </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;">₹1,365 crore </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;">Margin </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;">14.8% </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;">17.2% </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;">18.4% </td></tr></tbody></table> SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/policy/economy/news/house-of-cards-goldman-sachs-cuts-msci-china-index-earnings-forecast-to-zero/articleshow/93113216.cms">House of cards: Goldman Sachs cuts MSCI China's earnings forecast to zero</a> <a href="https://www.businessinsider.in/india/news/india-has-the-highest-rate-of-women-taking-action-against-harassment-calls-and-messages/articleshow/93107553.cms">India has the highest rate of women taking action against harassment calls and messages</a> <a href="https://www.businessinsider.in/science/health/news/monkeypox-outbreak-in-india-heres-what-we-know-so-far-about-symptoms-prevention-of-the-infection/articleshow/93111853.cms">Monkeypox outbreak in India: Here’s what we know so far about symptoms, prevention of the infection</a>

Attrition is as hard to predict as death says C P Gurnani after TechM loses profits to wage hikes

Talent from large IT firms has been flowing towards India's tech startups

<ul><li>Nasdaq-listed IT firm <keyword id="28721" type="General" weightage="20" keywordseo="cognizant" source="Orion">Cognizant</keyword> is going through a bad phase in terms of employees leaving the organisation.</li><li>The attrition rate of Cognizant is 33% much more than its Indian counterparts <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword> with 11.9%, <keyword id="6354512" type="General" weightage="20" keywordseo="infosys" source="Orion">Infosys</keyword> with 20.1%.</li><li>The IT giant added a record number of employees to fill the gap.</li></ul>The Indian information technology (IT) industry is reeling with a very high number of employees leaving the firms as the demand for digital services rises and so does the talent serving it. US-based Cognizant in its September quarter saw 33% attrition rate, which is far more than its Indian counterparts Tata Consultancy Services (TCS) with 11.9% and Infosys with 20.1%. <div type="image" title="cognizant attri" height="900" width="1200" msid="87327381" hostid="261"></div> As a result of the rising attrition rate, the company has brought in a number of employees onboard. It added 17,200 new employees in the September quarter taking the total headcount to 3.18 lakh. “While the industry faces an unprecedented competition for talent, we attracted a record number of employees to Cognizant, and stayed focused on delivering against our client commitments and our strategic repositioning,” said Brian Humphries, chief executive officer at Cognizant. The issue is not limited to a few <keyword id="6357647" type="General" weightage="20" keywordseo="it-companies" source="Orion">IT companies</keyword> but across the industry and to mitigate the number of employees leaving the firm, companies are deploying measures like broad-based hikes, promotions and retention incentives. Meanwhile, the company reported a double digit revenue growth of 12% to $4.7 billion in the third quarter (July-September), 2021. <div type="image" title="cog rev" height="900" width="1200" msid="87328900" hostid="261"></div> Further, the company has guided for $18.6 billion revenue in FY2021. The company follows a January to December accounting year. Shares of most IT companies were trading a tad lower on Thursday morning. <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;">IT companies </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;">Share price change on October 28 </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;">TCS </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;">-0.14% </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;">HCL Technologies </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;">-0.2% </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;">L&amp;T Technology 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;">-0.19% </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;">Wipro </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;">-0.18% </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;">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;">-0.4% </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;">Mindtree </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;">-1.12% </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;">Mphasis </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;">-1.36% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/nykaa-raises-2400-crore-from-174-anchor-investors/articleshow/87325004.cms">Nykaa raises nearly ₹2,400 crore in anchor investment from Government of Singapore, Goldman Sachs, JP Morgan and others</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/nykaa-ipo-will-open-today-here-is-how-to-apply-via-bank-and-apps-like-zerodha-paytm-money/articleshow/87312035.cms">Nykaa IPO will open today — here is how to apply via bank and apps like Zerodha, Paytm Money</a>

Cognizant faces the worst attrition rate in the industry, hires record number of employees to fill the gap

Over the past few years, TikTok has become the birthplace of seemingly every new work-related buzzword. It started with "<a target="_blank" href="https://www.businessinsider.com/quiet-quitting-hustle-culture-coasting-viral-work-debate-2022-9">quiet quitting</a>" back in 2022, which mutated into "<a target="_blank" href="https://www.businessinsider.com/i-do-bare-minimum-mondays-at-work-curb-burnout-stress-2023-2">bare-minimum Mondays</a>" and "<a target="_blank" href="https://www.businessinsider.com/tiktok-anti-work-girl-boss-lazy-girl-jobs-2023-6">lazy-girl jobs</a>." Last fall there was the new grad crying about the indignities of the <a target="_blank" href="https://www.businessinsider.com/how-to-survive-9-to-5-job-gen-z-tiktok-2023-11">9-to-5 office job</a>. And in recent weeks, TikTok has given rise to something even stranger: a viral boom of employees recording themselves as they're getting axed from their jobs.The trend was kicked off by a <a target="_blank" href="https://www.tiktok.com/@brittanypeachhh/video/7323004085043612959?q=layoff&amp;t=1705603293693">nine-minute video</a> posted by a young account executive at the tech company Cloudflare. When I first saw the commentary about it on social media, I cringed. Why do Gen Zers do this to themselves, I thought. They don't need to broadcast every single thing in their lives. But when I actually watched the video, it caught me by surprise. Brittany Pietsch sits on a video call, stone-faced, as an HR rep and a manager she'd never met inform her she's being terminated after less than five months on the job because of her performance. She asks why her supervisor isn't there. She demands to know how her work was subpar in any way. All she gets are a mix of the same scripted nonanswers — "I hear you," the manager keeps saying, making it clear he really doesn't — as if she's on the phone with a customer-service bot. Thirty seconds after the call ended, Pietsch later reported, the company cut off her access to her corporate laptop."It must be very easy for you to just have these little 10-minute, 15-minute meetings, tell someone that they're fired, completely wreck their whole life, and then that's it with no explanation," Pietsch tells the two Cloudflare representatives on the call. "To be let go for no reason," she added, "is a huge slap in the face from a company that I really wanted to believe in."Observers have since <a target="_blank" href="https://fortune.com/2024/01/12/cloudflare-employee-firing-tiktok-layoff-disguise/">debated</a> whether Pietsch's termination was really a layoff dressed up as a firing, a trick employers sometimes pull to avoid paying severance. But regardless of her specific circumstances, I think the video struck a chord because it conveys how it feels, viscerally, to be let go by the cold and heartless machinery employed by so many companies today. One week, your bosses are crowing about how the company is one big family. The next week, they deploy a couple of strangers to read you a carefully lawyered statement over Zoom. Or even worse, they send a <a target="_blank" href="https://www.businessinsider.com/google-employees-fight-back-layoffs-just-business-2024-1">mass email</a> with a link to an outplacement service and instantly shut you out of their systems, denying you the chance to even say goodbye to the colleagues you've worked alongside every day.As I watched Pietsch's video, my blood boiled. I felt the range of conflicting emotions that the millions of Americans who lose their jobs every year go through: baffled, angry, ashamed. Out of everything that happens in the workplace, nothing underscores the harshly transactional nature of employment more than the way companies terminate their employees. In the moment of being dismissed, it becomes shockingly clear that to many employers, their employees aren't people deserving of respect — they're just fungible commodities in the job market.To be sure, there are times when layoffs are necessary for the health — and even survival — of a company. Recessions shatter the economy, competitors get the upper hand, new technology disrupts entire industries. And when layoffs or firings do happen, companies face a host of legal and security issues that have to be taken into consideration. A disgruntled employee might try to steal a list of clients, say, or an emotional middle manager might say something in a termination call that exposes the company to a lawsuit. Even when terminations are carried out with care and respect, they are inevitably accompanied by pain and grief. But just because cuts are sometimes unavoidable doesn't mean we have to handle them with all the sensitivity of a Mafia hit job. The current process of frog-marching employees out the door and disappearing them on Slack is not only degrading to employees, but it's also counterproductive for employers. "The fact that something's a common practice doesn't make it a good practice," says Sandra Sucher, a professor of management practice at Harvard Business School. "Companies are kidding themselves if they think this process doesn't redound back into the organization's culture."In other words, the pitiless and coldhearted way businesses handle dismissals isn't just destructive to those who get dismissed. "Most of the harm comes to companies," Sucher says. "Because it's destructive to the people who remain behind."How destructive? To find out, I asked Culture Amp, which makes software for companies to track employee engagement, to take a look at their data. Among its clients that conducted layoffs since the pandemic — a period we may look back on as an era of peak callousness — engagement among employees plummeted the minute the ax fell. Even more remarkable, the demoralization and distrust among the survivors got worse as the months wore on. And as decades of studies in organizational psychology have shown, employee dissatisfaction leads to all kinds of costly problems, including low productivity and high turnover. Layoffs may seem like a way to boost the bottom line. But in the long run, they actually wind up being bad for business.Is there a better way to handle layoffs? The answer is an unequivocal yes. The first rule a company should remember when it faces an imperative to slash costs is: Do everything possible to avoid laying people off in the first place.Can the company pare down inventories? What about moving data centers to a cheaper location? "There's a host of stuff that costs money that doesn't involve people," Sucher says. "If you care about your people, you start there."If that isn't enough, employers can cut other line items: travel, catering, executive bonuses. They can suspend 401(k) contributions. They can institute a hiring freeze to cut labor costs via attrition, and offer one-year unpaid sabbaticals or voluntary buyouts, enabling employees to maintain a sense of control over their own fates. If still more savings are needed, employers can even implement a temporary, across-the-board wage cut — demonstrating to employees that the company will take every measure possible to protect people's jobs.Layoffs, in short, should be the very last resort — even though many CEOs are accustomed to treating them as a go-to move. "People are surprised that you can do something different," Sucher says. "It just doesn't occur to them that there's a different approach."And if layoffs are still necessary after all of that? For a few tips, I called Ashley Herd, who spent more than a decade as a corporate lawyer and HR executive before starting her own manager-training business. For starters, Herd says, managers should look the employees they're dismissing in the eye, rather than reading from a script. They should be prepared to stay on the call for as long as necessary, instead of rushing off to do the next one. And more than anything, they should remember that the employees whose jobs they're taking are human beings."People want to feel like they matter just at a basic level," Herd says. Companies may think their hyper-sanitized, lawyered approach will protect them from reprisals or lawsuits from angry ex-employees. But such heartlessness, Herd has found, is often pushed on companies by lawyers who have little or no experience in litigation or HR. In reality, basic decency is actually the most effective shield against legal action. Throwing people out on their ear only makes them more likely to sue — while making you look worse to a jury. "If you do things with a human element," Herd says, "you're rarely going to have to litigate." Some companies have gotten it right. When Stripe laid off 14% of its staff in 2022, it was widely lauded for providing employees with at least 14 weeks of severance, giving them a chance to have one-on-one conversations with their managers, and encouraging them to stay connected with coworkers and the company by giving them a new email address as "alumni." Encouraging ongoing ties pays dividends, because one day ex-employees may become valuable clients or consultants, or even return to the company as boomerangs. Other employers, including Twitch and Atlassian, have held off on severing a laid-off employee's access to Slack for a few hours, or even a few days, to give them the chance to say goodbye to their colleagues. Recently, I even heard of a company that allocated budgets for laid-off teams to have a final meal together before they went their separate ways.When Nokia announced a restructuring involving 18,000 employees in 2011, it helped workers transfer to new parts of the company or get jobs elsewhere. It paid for trade-school programs if an employee wanted to learn a new skill, and even offered funding to those who wanted to start their own business. As a result, Sucher says, employee engagement at Nokia remained steady throughout the restructuring — and the quality of its products never suffered.Examples like Nokia and Stripe serve as reminders that it's possible to replace a shitty process with a better one. Our <a target="_blank" href="https://www.businessinsider.com/google-employees-fight-back-layoffs-just-business-2024-1">current approach to layoffs</a> stems from the Reagan era, a period that wasn't exactly known for compassionate or innovative management. As work became more automated, it was easy to view employees as just another kind of robot, rather than as people with feelings and needs and families to support. Nowhere is that attitude clearer than in the way Cloudflare let Brittany Pietsch go. It's a terrible video to watch, because we all know we deserve better from our bosses — and it's cathartic to hear someone say so."She voiced what it feels like to be the person at the other end of the call," Sucher says. "I commend her, because it's so hard otherwise to communicate to people what those moments are actually like. Hopefully this will cause people to think again." <a target="_blank" href="https://www.businessinsider.com/author/aki-ito">Aki Ito</a> is a chief correspondent at Business Insider.

You Searched For "attrition in it companies" and got 10 results

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