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<ul><li>Pune has the lowest office vacancy at 8.5% as compared to other cities in India, as per <keyword id="7746659" type="General" weightage="20" keywordseo="ANAROCK-research" source="Orion">ANAROCK research</keyword> report.</li><li>As tech companies are choosing to adopt a hybrid work model, it is clear that IT-driven cities are now restricting their new office stock.</li><li>In comparison to non-IT cities, Delhi-NCR has the highest vacancy of <keyword id="181150" type="General" weightage="20" keywordseo="office-space" source="Orion">office space</keyword> at 28.5%.</li></ul>The information technology (IT) sector remained the least affected industry during the COVID-19 pandemic, however, due to hybrid work model requirements for office space went down. The latest ANAROCK research indicates that the IT hubs of India — Pune, Bengaluru, <keyword id="12864" type="General" weightage="80" keywordseo="chennai" source="Orion">Chennai</keyword> and Hyderabad — currently have lower Grade A office vacancies. Pune currently has the lowest vacant office spaces at 8.5%, followed by Chennai with 10.35%, Bengaluru with 11.25% and Hyderabad with over 15%. As tech companies are choosing to adopt hybrid work models, it is clear that IT-driven cities are now restricting their new office stock. “Many large and mid-size occupiers continued or renewed their leases during the pandemic because their business either saw no major impact or even grew during COVID-19. The cost of re-establishing or taking up new office space is costlier than holding on to existing leased spaces. Also, real estate costs are largely factored in IT companies' billing rates, so letting spaces go can lead to a significant change in top-line projections,” the report says. <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;">Cities </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 Grade A office </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;">Vacant office space </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;">Delhi-NCR </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;">128 </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;">28.50% </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;">Kolkata </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;">25 </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;">23.50% </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;">Mumbai Metropolitan Region </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;">108 </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;">16% </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;">Hyderabad </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;">80 </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% </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;">Bengaluru </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;">168 </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;">11.25% </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;">Chennai </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;">55 </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;">10.35% </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;">Pune </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;">60 </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;">8.50% </td></tr></tbody></table>Source: Anarock Research report In comparison to non-IT cities, Delhi-NCR has the highest number of vacancies at 28.5%, followed by Kolkata with 23.50% and Mumbai Metropolitan Region with 16%. “The IT/ITeS sectors boomed during the pandemic. While most companies operated in <keyword id="9487588" type="General" weightage="20" keywordseo="wfh-mode" source="Orion">WFH mode</keyword>, many large and mid-sized corporates decided to hold on to their office spaces. At between ₹58 and ₹78 per sq. ft. per month, the average monthly office rentals in all four IT/ITeS driven cities are comparatively lower than in NCR and MMR, where they hover between ₹80 and ₹126 per sq. ft./month,” said Anuj Puri, Chairman at Anarock Group. According to the data, Bengaluru has the maximum office stock of about 168 million square feet, followed by Delhi-NCR at 128 million square feet, and MMR at 108 million square feet. SEE Also: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/indias-tech-talent-pool-is-from-vizag-indore-and-warangal-thats-where-infosys-tcs-and-others-are-heading/articleshow/92351346.cms">India’s tech talent pool is from Vizag, Indore and Warangal — that’s where Infosys, TCS and others are heading</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/news/international-yoga-day-2022-here-are-five-yoga-asanas-for-covid-affected-people/articleshow/92355705.cms">International Yoga Day: Five yoga asanas that help cope with Covid</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/recession-in-the-us-could-drop-oil-prices-and-benefit-indian-economy-as-per-economists/articleshow/92361936.cms">A US recession could provide Indian economy the relief it needs</a>

IT cities have the least number of vacant office spaces whereas metros like Delhi and Mumbai have the most

<ul><li>According to a report by job-finding platform Indeed India, about one in five employees in the IT sector are keen on <keyword id="64527" type="General" weightage="20" keywordseo="moonlighting" source="Orion">moonlighting</keyword> to make extra money. </li><li>A majority of employers in e-commerce, construction and real estate preferred to have their staff working from the office. </li><li>However, remote working is still expected to continue in the job market. </li><li>Employee wellbeing has become central to many companies, who have started revising their existing employee policies to reflect this.</li></ul>The Covid-19 pandemic has completely changed the way people work. The year 2022 was all about moonlighting, getting back to office, employee wellbeing and quiet quitting. Industry experts believe that these workplace trends will continue to persist in India in 2023 as well. <cmsannotation type="cmsannotation" annotationid="Moonlighting: The debate rages on" comment="subhead" text="Moonlighting: The debate rages on">Moonlighting: The debate rages on</cmsannotation> Moonlighting — which became one of the most-talked-about trends this year — means taking up an additional job or more alongside an existing job. Business leaders of big companies have been very vocal about the issue. IT major Wipro has been the harshest critic of this trend, firing 300 staff for moonlighting. TCS and Infosys have also been critical of the practice that has been seen as unethical. Critics of the practice say that the employee offer letters clearly prohibits dual employment, and if they are found to be in transgression, companies have the right to fire them. However, advocates of moonlighting argue that as long as the employee’s moonlighting is not aiding a competitor or affecting the employer’s work, it is not unethical. The government also got in on the debate and clarified the law with regards to moonlighting. Minister of state for labour Rameswar Teli – in a written reply to a question on moonlighting in the Lok Sabha on December 19 – said that staff can’t take up additional work that is against the interest of its employer. “As per the Industrial Employment (Standing Orders) Act, 1946, a workman shall not at any time work against the interest of the industrial establishment in which he is employed and shall not take any employment in addition to his job in the establishment, which may adversely affect the interest of his employer,” he <a href="https://economictimes.indiatimes.com/epaper/delhicapital/2022/dec/20/et-front/staff-cant-take-up-work-thats-againstcos-interests-govt/articleshow/96353586.cms?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=ETepaper_paid&amp;utm_content=front-page&amp;ncode=211413ee85287150a754ff7e50c041059418e496c5e7536be1491acba8354da29ed130a02baa6260e0cce56432d0d1741465e6345732e701f5280df01c88f8849c4466db6834e525538d035e05acd84e">said</a>. However, according to a report by job-finding platform Indeed India, about one in five employees in the IT sector are keen on moonlighting to make an extra buck. Aligned to this, companies like IT major Tech Mahindra, online food delivery platform Swiggy and employee wellness platform Nova Benefits have said that their employees are allowed to take up side hustles as long as it doesn’t affect their own work. As long as employees remain keen on additional sources of income, companies will have their hands full trying to figure out strategies to retain talent while satisfying their need for extra income and challenging projects. <cmsannotation type="cmsannotation" annotationid="Remote working to stay relevant" comment="subhead" text="Remote working to stay relevant">Remote working to stay relevant</cmsannotation> This year saw a partial reversal of a key pandemic era trend, the work-from-home (WFH) option – with many companies, including IT majors, calling their employees back to office and doing away with the WFH option. However, most companies and employees are struggling to get back to normal after getting used to the ‘new normal’ of WFH. In 2023, there will be more companies who might turn strict about workplace presence. According to data shared by Indeed India, a majority of employers in e-commerce (95%), and construction and real estate (90%) prefer to have their staff working from the office, while 37% of employers in the IT sector planned on having their employees work remotely. Employees in the IT sector have already restarted working physically from the office, at least for three days a week, with WFH being allowed only on health grounds. Chandigarh topped the list of cities where employers preferred to have people working from the office, followed by Mumbai and Bangalore, where 26% and 21% of employers, respectively, preferred hybrid/remote work, as per Indeed India. However, companies could face a lot of resistance from employees who are reluctant to get back to offices. According to <a href="https://economictimes.indiatimes.com/jobs/remote-working-new-normal-82-employees-prefer-working-from-home-study/articleshow/89201519.cms">Tech Talent Outlook</a> by job site SCIKEY, 82% of employees in the IT sector want to work from home rather than from the office. The remote working trend, which was initially forced on employees at the beginning to Covid-19 pandemic, has now become a preferred mode of working. A more recent Nasscom and Indeed India’s Gen Z and Millennials: Reshaping the Future of Workforce report said that while the future of work would continue to be hybrid, their survey found that <keyword id="11964015" type="General" weightage="80" keywordseo="gen-zs" source="Orion">Gen Zs</keyword> were more willing to go to office – 85% of Gen Zs preferred to either work completely from office or in a hybrid mode (a combination of office and remote working) Employees believe that working from home allows for more autonomy and productivity while cutting down commute time. “Increasingly, employees are showing a preference for organisations that value employees’ time, have an inclusive work environment and prioritise initiatives such as diversity and sustainability. These elements will be crucial for organisations to create a work model that best suits their sector,” said Sashi Kumar, head of sales, Indeed India. While there could be a move back to office, some degree of remote working will persist, believe experts. “Hybrid mode and remote working will continue to stay relevant in the coming years owing to the large-scale organisational benefits they offer,” said Anil Agarwal, CEO and co-founder, InCruiter, a Bangalore-based human resource consulting platform. <cmsannotation type="cmsannotation" annotationid="Can companies overcome quiet quitting?" comment="subhead" text="Can companies overcome quiet quitting?">Can companies overcome quiet quitting?</cmsannotation> Quiet quitting is another trend that emerged this year due to employee stress and burnout. It refers to an employee doing just enough work to cover the contractual obligation and nothing more, in order to spend time on personal activities. According to Indeed India's report, 33% of the employers surveyed believe that low general job satisfaction (boredom, lack of challenges, etc.) is the main reason for the growing trend of quiet quitting, while 21% believe it is a lack of commitment to jobs. Other employees believe excessive burnout, being overwhelmed with work and a lack of support from managers or bosses, has led to the rise in quiet quitting. If businesses want to attract and retain talent, they will have to pay close attention to their employees’ needs, especially that of the Gen Zs and millennials since they form a large chunk of the working population. To illustrate, Gen Zs and millennials together constituted almost 90% of the total employee base in the <a href="https://www.businessinsider.in/careers/news/as-more-freshers-are-hired-genzs-share-in-it-workforce-grows-to-18-20-nasscom-indeed/articleshow/96276835.cms">tech industry</a> in FY22. While for Gen Zs, better financial benefits, career growth and job satisfaction are what matter the most when deciding to continue working in an organisation, millennials look at job stability and flexibility to make this decision, as per the <a href="https://www.businessinsider.in/careers/news/as-more-freshers-are-hired-genzs-share-in-it-workforce-grows-to-18-20-nasscom-indeed/articleshow/96276835.cms">Nasscom-Indeed report</a>. Many companies have now started revising their existing employee policies, making them more employee-centric. They are also starting to focus more on the mental wellbeing of employees, trends that are likely to continue into the new year. For instance, e-commerce platform Meesho gave its employees 11 days of mental health leaves this year to help them reset and recharge after a hectic festive season. This is the second time that Meesho has given mental health leaves to its employees this year.The company also announced an unlimited leave policy that allows employees to avail up to 365 days of paid leaves. “They (the companies) also strive to make the current work culture more inclusive, where employees are recognised for their hard work and diligence. Most importantly, driving work-life balance has become a priority, especially after the pandemic,” Agarwal added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/tata-communications-to-acquire-us-based-switch-enterprises-for-486-crore/articleshow/96422481.cms">Tata Communications to acquire US-based Switch Enterprises for ₹486 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/planning-to-stay-indoors-for-the-christmas-weekend-here-are-top-ott-releases-you-can-stream/slidelist/96421177.cms">Planning to stay indoors for the Christmas weekend? Here are top OTT releases you can stream</a>

Work from office, moonlighting, mental well-being — Workplace trends of 2022 that are likely to persist in the new year

<ul><li>Companies have faced significant resistance when they have asked employees to come back to the office. </li><li>The hybrid working model has gained widespread acceptance and is likely to stay. </li><li>Some of the organisations incentivising employees are offering discounted meals, commuting benefits, etc.</li></ul>Life after the pandemic has returned to normal, but for those who had got used to working from home, returning to office is not a preferred option – not yet. Added to that, there is a disparity between how leadership and employees perceive working from home. In June 2020, TCS announced that it will allow 75% employees to <keyword id="123591" type="General" weightage="80" keywordseo="work-from-home" source="Orion">work from home</keyword> even after the pandemic is over. However, they have now backtracked on that claim. TCS has been encouraging employees to get <keyword id="9081434" type="General" weightage="100" keywordseo="back-to-office" source="Orion">back to office</keyword> three days a week and has ruled out a scenario where employees can work 100% from home. Infosys founder Narayana Murthy has warned younger employees against moonlighting and asked them not to work from home. Wipro chairman Rishad Premji recently made a statement saying that more employees should work from the office rather than from their homes. And, it’s not just tech companies. As much as 71% of Indian business leaders said that they prefer their employees to work more frequently from the office as opposed to working from home according to C-Level Linkedin Research. fo However, post-Covid, returning to work is a mindset shift. A report by ADP Research Institute reveals that 76.07% of employees in India would prefer having control over their working hours and would take a pay cut to guarantee the flexibility of working remotely or have the opportunity to alternate between home and office. According to a global survey by ResumeBuilder.com, 66% of employers currently require employees to <keyword id="8954729" type="General" weightage="80" keywordseo="work-from-office" source="Orion">work from office</keyword>, 90% of companies will require employees to return to office in 2023, 21% of companies will fire workers who do not return to the office and 88% of companies are offering incentives to get employees to return, including catered meals, commuter benefits, and higher pay. <cmsannotation type="cmsannotation" annotationid="To work or not to work from the office" comment="subhead2" text="To work or not to work from the office">To work or not to work from the office</cmsannotation> Like companies across the world, Indian companies too are trying to adjust to the new normal. “Companies are aware that employee engagement is crucial to their performance. As a result, they have been willing to add some flexibility to the equation. Occasionally working from home for an office job is acceptable, but only with permission.,” says Mayur Taday, chief business officer, TeamLease Services, a staffing and HR firm. However, companies have faced resistance when asking their employees to come back to the office. “Like many other organizations, we encountered significant resistance from employees, particularly those who were working remotely from their hometowns. However, over time, the situation has evolved. A substantial percentage of our workforce attends the office five days a week, while others enjoy the hybrid approach. However, there is a small group of employees who still show resistance,” says Jayita Roy, VP - HR, Adecco India, a staffing and HR solutions company. Tadays says that businesses have been tolerant and non-obtrusive in permitting a gradual transition over the past nine months, but increased adherence is anticipated in the upcoming fiscal year. “Employees have largely adapted to the new normal as a result. However many who want a permanent WFH have looked for or changed jobs and landed WFH roles,” he adds. Organizations across sectors want their employees to come back to office, but each industry has its nuances. According to Pratik Vaidya, Founder &amp; MD, Karma Global, an HR and compliance organization, when it comes to BFSI, the principle is well settled. Even during pandemic times, the entire banking and financial sectors were working normally with all transactions going online. The need for physical presence of a customer in a bank was negligible and this trend continues even today. Hence the second and fourth Saturdaysh as holidays for banking and government offices are widely accepted and there is no likelihood of any change unless the Banking Associations’ demand for all Saturday offs is met by the government. However, in tech the situation is not as simple. “This is because the tech industry’ demographic holds the younger generation of people in the age group of 23 to 30. The vibrant lot seeks nourishing and nurturing of talent, career path and employee friendly workplace which they can consider as their second home,” says Vaidya. Also he says that the younger lot is more inclined towards work from home or a <keyword id="45402" type="General" weightage="20" keywordseo="hybrid-model" source="Orion">hybrid model</keyword>, a mix of both working from office and a few days at home. The mid-level workforce is fully inclined towards the hybrid model so that they are able to stay focussed on their career growth and balance days in remote working, where they can attend to family and personal demands. The senior level is more inclined towards work from office so that they can focus on organizational goals and drive the purpose and objective of the organization. The year 2023 will thus witness a lot of experimentation in organizations. Some will settle down faster, while others will take a little longer to settle, especially those organizations with multi locational units, multi job roles, multi grades and cadres, multi objectives and goals, as expectations will be huge. <cmsannotation type="cmsannotation" annotationid="Hybrid work could be the future" comment="subhead2" text="Hybrid work could be the future">Hybrid work could be the future</cmsannotation> Linkedin Research has also revealed that 82% Indian leaders believe that hybrid work is expected to stay here for the long term. “It is true that the hybrid working model has gained widespread acceptance and this will become the norm of the future,” says Vaidya. However he adds that it will totally depend on the suitability and needs of an organization. It cannot be a standard practice across. It will vary between industries and organizations. The hybrid model comes with 4 days a week, 3 days a week, 2 days a week, once a week, few times in a month or once in a month. So it will be idealistic for each organization to decide what suits them best taking into account their vision, mission, values, culture, goals and objectives, competition, product demand and penetration, delivery and ultimately customer satisfaction. “The hybrid work model presents an advantageous arrangement for employees, as it empowers them to structure their workweek to suit both their personal needs and the needs of their team,” says Roy. She adds that a substantial percentage of their workforce attends the office five days a week, while others enjoy the hybrid approach. “We don’t see a world where employees return to the office five days a week. For now, it’s one or two days with an emphasis on flexibility,” says Chad Herring, CHRO, Zoominfo, a software and data company. <cmsannotation type="cmsannotation" annotationid="The way ahead" comment="subhead2" text="The way ahead">The way ahead</cmsannotation> We were taught of this motivational theory of carrot and stick, during school days and it holds its relevance even today. In fact, fortune 500 companies CEOs even today use a combination of carrot and stick which helps them to achieve faster progress. An element of compulsion is necessary at the same time when carrot is being offered as an inducement. Some of the organizations incentivising employees are offering discounted meals, commuting benefits, offering a decent raise, improving office space with re-decor, casual dressing on Fridays, team events on weekends, child care facilities, learning training and development programmes, and so on. At Zoominfo, employees are regularly treated to free lunches at the office. There are also snacks and drinks available at all times. For many, the last few weeks marked the first time many employees met their colleagues in person since they were hired, so teams have planned group lunches and outings. It is accepted that the pandemic has changed the way individuals view their work life as the two years of ingrained family style of work at home, and it will take some time for the employees to come out from this cocoon or home shell. Therefore, it will be imperative to build employee centric and customized work plans depending on each organisation's needs and wants, maintaining a healthy balance between the two. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/yes-bank-shares-tank-over-12-as-3-year-shareholder-lock-in-period-ends/articleshow/98601576.cms">Yes Bank shares tank over 12% as 3-year shareholder lock-in period ends</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/how-does-the-oppo-find-n2-flip-stack-up-against-the-samsung-galaxy-z-flip-4/slidelist/98601155.cms">How does the Oppo Find N2 Flip stack up against the Samsung Galaxy Z Flip 4?</a>

Companies want their employees back to office, but it is turning out to be difficult

<keyword id="64527" type="General" weightage="20" keywordseo="Moonlighting" source="Orion">Moonlighting</keyword> has become a hot topic ever since Wipro’s Executive Chairman Rishad Premji called it “plain and simple cheating”. Many industry captains have jumped onto the bandwagon to share their views liberally on the subject matter and most of them are against it, barring CP Gurnani of Tech Mahindra. In a tweet he wrote, “My thoughts on the trending 'M word'... It's necessary to keep changing with the times, and as always, I welcome disruption in the ways we work”. <div type="twitter" handle="C_P_Gurnani" handlename="CP Gurnani" image="http://pbs.twimg.com/profile_images/1555109168540839937/zECHTjEe_normal.jpg" favoritecount="34" retweetcount="5" status="My thoughts on the trending 'M word'... It's necessary to keep changing with the times, and as always, I welcome di… https://t.co/WLCnZL3ELO" createdat="1661664718000" id="1563761285128663040"></div> For those who have joined this conversation late, moonlighting is nothing but taking on assignments outside of one’s regular day jobs, and may I add, full-time jobs. There are many who will support his view as it is a breach of contract, but the IT industry is fraught with human resource problems that it cannot wish away. Moonlighting trends Moonlighting may have become a conversation point in India now, but it has been a trend that’s been on the uptick in the United States since 1996. According to US Census Bureau’s Longitudinal Employer-Household Dynamics, multiple jobholding rate has increased to 7.2% in 2018 from 6.8% in 1996. More women in the US hold multiple jobs than men. In the US, employers tend to put in place policies for employees that require disclosures from them to avoid conflict of interest and use of office resources for other jobs. It is time, employers in India recognise the writing on the wall instead of using strong-arm tactics that will further alienate employees. Moonlighting has been around for the longest time and professionals from creative industries have toyed with the idea, but it has become mainstream only after the pandemic. <div type="image" title="Moonlighting has become mainstream only after the pandemic" msid="94231884" hostid="261" caption="&amp;lt;p&amp;gt;Moonlighting has become mainstream only after the pandemic&amp;lt;/p&amp;gt;"></div> Why is the workforce disengaged? Before vilifying their employees, threatening them or by throwing the employee code at them, industry captains need to smell the coffee and ask themselves if they are in any way responsible for the disengagement that most of the IT workforce feels. Work from home may have enabled more people to explore moonlighting compared but the real cause is not that. At the start of the pandemic, WFH seemed like a very good idea to the bosses of IT companies as it led to enormous savings for them from the September quarter of FY2021. As costs declined, margins jumped and stocks rallied. Not surprisingly, the companies were willing to make this a permanent feature and were looking to repurpose their large tech parks and real estate. Two years down the line, they are taking to Twitter and calling their employees unethical and in doing so have put the spotlight on their “people problem” yet again. The pandemic has only accentuated the problem of disgruntled employees and their cry for better wages. While many of my friends who head human resource functions tell me that moonlighting is a breach of contract, people practices of India’s large IT companies can surely improve from where they are right now. Time on Floor Scratch beneath the surface or better still visit Glassdoor or Quora and search for “Time on Floor” and you will find horrifying stories of how India’s IT companies are run. One employee from a leading IT services company in Bangalore told me that he had to clock a number of hours on his seat while he was on a project, which had to add up to eight hours or more and to achieve his target he curtailed his toilet breaks and even time eating his lunch. In 2017, one tech services major sacked women who had returned from maternity leave and another one in Kolkata stopped providing women employees transport to and from the campus. The “chatter around moonlighting” has only come as the latest pain point for an industry that has found it hard to manage its people or keep them happy, which is perhaps why they rely so heavily on freshers. Moonlighting is a problem that may have surfaced after the pandemic started in 2020 and work-from-home gave people the latitude to explore other avenues of income since they were not sitting in office and saving on time. There is a deeper malaise that tech companies in India need to address upfront as the Big Techs are doing in Silicon Valley. Problem of disgruntled employees is not new From times immemorial, the IT industry in India has been battling high attrition levels and margin pressure due to wage hikes. Given the sheer number of employees that each of these companies have, it is hard to create a sense of ownership, loyalty and engagement. Nearly two decades ago, at a town hall of a large IT company, the much respected founder was asked why the variable pay was not paid out despite the very high growth trajectory of the company – those days some IT companies were growing by 100% year-on-year. The venerated founder told him that the company had its own internal goals, which were not met, therefore, the variable pay was not given. Wages at IT services companies are a lever to manage margins and to keep costs under check, thousands of freshers are hired each year. Any industry that treats employees like labour and not capital are bound to see low engagement and commitment levels. <div type="image" title="Tech CEO salaries zoomed in a decade while fresher salaries remained stable" msid="94231907" hostid="261" caption="&amp;lt;p&amp;gt;Tech CEO salaries zoomed in a decade while fresher salaries remained stable&amp;lt;/p&amp;gt;"></div> One only needs to compare the wage growth of senior management with that of freshers to see the disparity. Between 2012 and 2022 the salary of the CEO of Infosys grew from ₹80 lakh to ₹79.75 crore, while that of freshers rose from ₹2.75 lakh to ₹3.6 lakh. The story is no different for the other big IT services players (see table). Town Halls, Quora and Glassdoor are a testimony of this trend. Are employee unions the answer? In a bid to improve the working conditions of the IT and ITES sectors and make these companies adopt better human resource policies, employees came together to form a union in November 2017. The labour department in Karnataka certified the formation of the Karnataka State IT/ITES Employees Union (KITU) under the Trade Union Act 1926 and Karnataka Trade Unions Regulations 1958. The first such trade union was born in the midst of large scale retrenchment by the industry in 2017. The trade unions never took off as few employees were willing to join the union. But it does not take away the problem people have with their employers. One would wonder why would white collar workers want to come together and fight for their rights considering they are already privileged and enjoy “higher salaries” and free lunches? There is a reason as tech workers across the globe are pushing back practices of their employers be it on their business practices or treatment of outspoken employees. Tech workers across Silicon Valley too are looking at organising themselves to push their employers to adopt policies that are more inclusive. An <a href="https://www.washingtonpost.com/technology/2021/01/26/tech-unions-explainer/">article by The Washington Post</a> in April 2021 says, “Union advocates say discrimination faced by women and people of colour at the tech companies proves the need for stronger worker protections. Unions can also be a way for workers to have their voices heard about the issues they have with decisions executives are making, such as — which politicians to give money to or whether to sell software to the military and police.” Unlike the industrial age, the white collar unions are today seeking answers to bigger questions on equity, treatment of employees and broader company policies.

SIMPLY PUT: Moonlighting is wrong... but is it really?

<ul><li>IT sector has been at loggerheads with employees for years now</li><li><keyword id="64527" type="General" weightage="100" keywordseo="Moonlighting" source="Orion">Moonlighting</keyword> is a sign of a deeper malaise not the cause</li><li>White collar workers in tech are demanding better working conditions and HR policies from employers Bangalore to Silicon Valley</li></ul> Moonlighting has become a hot topic ever since Wipro’s Executive Chairman Rishad Premji called it “plain and simple cheating”. Many industry captains have jumped onto the bandwagon to share their views liberally on the subject matter and most of them are against it, barring CP Gurnani of Tech Mahindra. In a tweet he wrote, “My thoughts on the trending 'M word'... It's necessary to keep changing with the times, and as always, I welcome disruption in the ways we work”. <div type="twitter" handle="C_P_Gurnani" handlename="CP Gurnani" image="http://pbs.twimg.com/profile_images/1555109168540839937/zECHTjEe_normal.jpg" favoritecount="36" retweetcount="6" status="My thoughts on the trending 'M word'... It's necessary to keep changing with the times, and as always, I welcome di… https://t.co/WLCnZL3ELO" createdat="1661664718000" id="1563761285128663040"></div> For those who have joined this conversation late, moonlighting is nothing but taking on assignments outside of one’s regular day jobs, and may I add, full-time jobs. There are many who will support his view as it is a breach of contract, but the IT industry is fraught with human resource problems that it cannot wish away. <cmsannotation type="cmsannotation" annotationid="Moonlighting trends" comment="subhead" text="Moonlighting trends">Moonlighting trends</cmsannotation> Moonlighting may have become a conversation point in India now, but it has been a trend that’s been on the uptick in the United States since 1996. According to US Census Bureau’s Longitudinal Employer-Household Dynamics, multiple jobholding rate has increased to 7.2% in 2018 from 6.8% in 1996. More women in the US hold multiple jobs than men. In the US, employers tend to put in place policies for employees that require disclosures from them to avoid conflict of interest and use of office resources for other jobs. It is time, employers in India recognise the writing on the wall instead of using strong-arm tactics that will further alienate employees. Moonlighting has been around for the longest time and professionals from creative industries have toyed with the idea, but it has become mainstream only after the pandemic. <div type="image" title="Moonlighting has become mainstream only after the pandemic" msid="94260234" hostid="261" caption="&amp;lt;p&amp;gt;Moonlighting has become mainstream only after the pandemic&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="Why is the workforce disengaged?" comment="subhead" text="Why is the workforce disengaged?">Why is the workforce disengaged?</cmsannotation> Before vilifying their employees, threatening them or by throwing the employee code at them, industry captains need to smell the coffee and ask themselves if they are in any way responsible for the disengagement that most of the IT workforce feels. Work from home may have enabled more people to explore moonlighting compared but the real cause is not that. At the start of the pandemic, WFH seemed like a very good idea to the bosses of IT companies as it led to enormous savings for them from the September quarter of FY2021. As costs declined, margins jumped and stocks rallied. Not surprisingly, the companies were willing to make this a permanent feature and were looking to repurpose their large tech parks and real estate. Two years down the line, they are taking to Twitter and calling their employees unethical and in doing so have put the spotlight on their “people problem” yet again. The pandemic has only accentuated the problem of disgruntled employees and their cry for better wages. While many of my friends who head human resource functions tell me that moonlighting is a breach of contract, people practices of India’s large IT companies can surely improve from where they are right now. <cmsannotation type="cmsannotation" annotationid="Time on Floor" comment="subhead" text="Time on Floor">Time on Floor</cmsannotation> Scratch beneath the surface or better still visit Glassdoor or Quora and search for “Time on Floor” and you will find horrifying stories of how India’s IT companies are run. One employee from a leading IT services company in Bangalore told me that he had to clock a number of hours on his seat while he was on a project, which had to add up to eight hours or more and to achieve his target he curtailed his toilet breaks and even time eating his lunch. In 2017, one tech services major sacked women who had returned from maternity leave and another one in Kolkata stopped providing women employees transport to and from the campus. The “chatter around moonlighting” has only come as the latest pain point for an industry that has found it hard to manage its people or keep them happy, which is perhaps why they rely so heavily on freshers. Moonlighting is a problem that may have surfaced after the pandemic started in 2020 and work-from-home gave people the latitude to explore other avenues of income since they were not sitting in office and saving on time. There is a deeper malaise that tech companies in India need to address upfront as the Big Techs are doing in Silicon Valley. <cmsannotation type="cmsannotation" annotationid="Problem of disgruntled employees is not new" comment="subhead" text="Problem of disgruntled employees is not new">Problem of disgruntled employees is not new</cmsannotation> From times immemorial, the IT industry in India has been battling high attrition levels and margin pressure due to wage hikes. Given the sheer number of employees that each of these companies have, it is hard to create a sense of ownership, loyalty and engagement. Nearly two decades ago, at a town hall of a large IT company, the much respected founder was asked why the variable pay was not paid out despite the very high growth trajectory of the company – those days some IT companies were growing by 100% year-on-year. The venerated founder told him that the company had its own internal goals, which were not met, therefore, the variable pay was not given. Wages at IT services companies are a lever to manage margins and to keep costs under check, thousands of freshers are hired each year. Any industry that treats employees like labour and not capital are bound to see low engagement and commitment levels. <div type="image" title="Tech CEO salaries zoomed in a decade while fresher salaries remained stable" msid="94260292" hostid="261" caption="&amp;lt;p&amp;gt;Tech CEO salaries zoomed in a decade while fresher salaries remained stable&amp;lt;/p&amp;gt;"></div> One only needs to compare the wage growth of senior management with that of freshers to see the disparity. Between 2012 and 2022 the salary of the CEO of Infosys grew from ₹80 lakh to ₹79.75 crore, while that of freshers rose from ₹2.75 lakh to ₹3.6 lakh. The story is no different for the other big IT services players (see table). Town Halls, Quora and Glassdoor are a testimony of this trend. <cmsannotation type="cmsannotation" annotationid="Are employee unions the answer?" comment="subhead" text="Are employee unions the answer?">Are employee unions the answer?</cmsannotation> In a bid to improve the working conditions of the IT and ITES sectors and make these companies adopt better human resource policies, employees came together to form a union in November 2017. The labour department in Karnataka certified the formation of the Karnataka State IT/ITES Employees Union (KITU) under the Trade Union Act 1926 and Karnataka Trade Unions Regulations 1958. The first such trade union was born in the midst of large scale retrenchment by the industry in 2017. The trade unions never took off as few employees were willing to join the union. But it does not take away the problem people have with their employers. One would wonder why would white collar workers want to come together and fight for their rights considering they are already privileged and enjoy “higher salaries” and free lunches? There is a reason as tech workers across the globe are pushing back practices of their employers be it on their business practices or treatment of outspoken employees. Tech workers across Silicon Valley too are looking at organising themselves to push their employers to adopt policies that are more inclusive. An <a href="https://www.washingtonpost.com/technology/2021/01/26/tech-unions-explainer/">article by The Washington Post</a> in April 2021 says, “Union advocates say discrimination faced by women and people of colour at the tech companies proves the need for stronger worker protections. Unions can also be a way for workers to have their voices heard about the issues they have with decisions executives are making, such as — which politicians to give money to or whether to sell software to the military and police.” Unlike the industrial age, the white collar unions are today seeking answers to bigger questions on equity, treatment of employees and broader company policies. SEE ALSO <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/adani-group-enters-into-a-no-poaching-pact-with-mukesh-ambani-led-reliance-industries/articleshow/94353862.cms">Adani Group enters into a no-poaching pact with Mukesh Ambani led Reliance Industries</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/sundar-pichai-lost-a-fifth-of-his-wealth-last-year-check-the-net-worth-of-other-indian-origin-ceos/articleshow/94353534.cms">Sundar Pichai lost a fifth of his wealth last year – check the net worth of other Indian-origin CEOs</a>

New Delhi, Apr 29 () IT firm Hexaware Technologies on Wednesday posted a 26.3 per cent rise in net profit at Rs 175 crore in the March 2020 quarter, and said it was suspending its guidance for FY20 amid uncertainty due to COVID-19 pandemic. The company had reported a net profit of Rs 138.4 crore in the January-March 2019 period, Hexaware Technologies said in a regulatory filing. Its revenue increased 22 per cent to Rs 1,541.7 crore in the quarter under review as compared with Rs 1,264 crore in the year-ago period. The company follows January-December as its fiscal year. "COVID-19 has led to significant uncertainty in the current environment. In view of this, we suspend the guidance that was provided earlier for FY'20," it said. In February, the company had said it expects its FY2020 revenue to grow 15-17 per cent. IT firms like Wipro and Infosys have also suspended their practice of offering revenue growth forecast, while Cognizant had retracted its annual outlook for 2020 amid uncertainties due to COVID-19 outbreak that has disrupted businesses globally. Hexaware's earnings per share (EPS) was at Rs 5.86 at the end of March quarter, up 26.1 per cent year-on-year. "Our focus on operational efficiencies helped us deliver an EPS expansion in the current quarter," Hexaware Technologies Chief Financial Officer Vikash Kumar Jain said. He added that future quarters would be a "period of uncertainties and opportunities". "We believe our strategic themes and strong balance sheet position us well to partner with our stakeholders to come out of this crisis stronger," he said. Hexaware said the company was early in transitioning to work from home (WFH) mode, much before the government-mandated lockdown. Currently, 99 per cent per cent of its IT work and 80 per cent of BPS in terms of revenue is WFH, it added. "Once the government mandated lockdown is lifted, we will be resuming services in our offices in a staggered and segmented approach starting with those delivering critical services for which onsite presence is required," Hexaware said. Atul Nishar, chairman of Hexaware Technologies, expressed confidence that the company's strategic focus and robust execution capabilities will drive growth going forward. In dollar terms, Hexaware's net profit rose by 18.3 per cent to USD 23.4 million, while revenue grew 17 per cent to USD 210.6 million in the said quarter on a year-on-year basis. The company said it won deals from new customers (NN) in the first quarter with TCV (total contract value) of USD 69 million, and this was one of the best quarters of NN signings. Its headcount stood at 19,998 people in the said quarter, with attrition at 15.1 per cent. The company said Meera Shankar has ceased to be an independent director with effect from April 10, 2020 pursuant to completion of second term as an independent director. The board of directors have approved the appointment of Milind Shripad Sarwate and Madhu Khatri as additional directors in the capacity of non-executive independent directors of the company with effect from April 25, 2020 for a period of three years, subject to the approval of shareholders. SR RVK

Hexaware Q1 net profit up 26.3 pc, suspends annual guidance amid COVID-19 pandemic

<ul><li>IT and <keyword id="9739801" type="UNKNOWN" weightage="20" keywordseo="media-employees">media employees</keyword> are in no rush to return to their offices until more stringent measures are in the place, according to the latest edition of LinkedIn’s Workforce Confidence Index. </li><li>Those who can’t wait to get back to the ‘physical workplace’ are professionals in the recreation, travel, and consumer goods industry. </li><li>Across the workforce, one-third of professionals believe that their savings will increase in the next six months but they are uncertain about job security. </li></ul>As coronavirus restrictions across India reach their fourth month, many are looking forward to returning to the ‘physical workplace’. According to a survey conducted by LinkedIn, professionals in the recreation and travel space, as well as those in the consumer goods industry, are most eager to work from offices/on-site, as soon as it’s allowed. <div type="image" title="Copy of BFSI rev and tech spend (1)" msid="77486085" hostid="261" caption="&amp;lt;p&amp;gt;Professionals in recreation and travel as well as the consumer goods industry are most eager to get back to work&amp;lt;/p&amp;gt;"></div> But not everyone is as excited. People working in the IT industry are leaning towards WFH even if the restrictions are lifted. LinkedIn’s Workforce Confidence Index report believes that this could be because the transition to remote work for <keyword id="6467356" type="UNKNOWN" weightage="20" keywordseo="IT-employees">IT employees</keyword> was a lot smoother than it was more employees in other sectors of the economy. <div type="Article" hostid="261" msid="77407573" title="No coffee breaks or water cooler gossip – work from home is hurting office friendship and the team vibe" mstype="2" mssubtype="0"></div> Professionals in transportation and logistics, as well as media and communications, share the same concerns and are likely to continue working from home until absolutely necessary. <div type="image" title="sanitisation at work_edited" msid="77486261" hostid="261" caption="&amp;lt;p&amp;gt;Sanitisation at work&amp;lt;/p&amp;gt;"></div> Concerns about returning to the office It is not that the professionals in the IT and Media industry prefer staying at home. But their major concerns are poor workplace sanitisation and lack of cleanliness that would increase the exposure risk to COVID-19. <div type="image" title="Copy of Copy of BFSI rev and tech spend" msid="77486138" hostid="261" caption="&amp;lt;p&amp;gt;Concerns about peers not taking COVID-19 precautions seriously is the primary concern for employees looking to return to office&amp;lt;/p&amp;gt;"></div> While one may follow guidelines to a tee, many employees aren’t confident that their colleagues will do the same. Exposure to those not taking such safety measures seriously is another worry that weighs heavily. <div type="Article" hostid="261" msid="77099043" title="Indian government extends work from home norms for IT and BPO companies till the end of the year" mstype="2" mssubtype="0"></div> On the flip side, many employees are expecting their personal savings to jump in the next six months. But that is shadowed by the fact that when it comes to job security, employees aren’t as optimistic. More than people who work at large companies and multinationals, the workers at small and medium enterprises (SMEs) are worried about keeping their jobs, according to LinkedIn’s Workforce Confidence Index. The online professional network, LinkedIn, surveyed 5,553 professionals across India over the last two months and asked what they were the most concerned about when ‘returning to the physical workspace’. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/tcs-infosys-hcl-tech-and-wipro-open-up-lateral-hiring-as-more-people-walk-out-the-door-during-the-covid-19-pandemic/articleshow/77045880.cms">TCS, Infosys, HCL Tech and Wipro open up lateral hiring as more people walk out the door during the COVID-19 pandemic</a> <a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-cfo-says-lateral-hiring-will-take-time-and-only-after-utilisation-improves-to-pre-covid-levels/articleshow/77440879.cms">INTERVIEW: Tech Mahindra CFO says lateral hiring will take time — and only after utilisation improves to pre-COVID levels</a> <a href="https://www.businessinsider.in/business/startups/news/uber-starts-hiring-engineers-in-india-after-reports-said-ceo-dara-khosrowshahi-is-eager-to-shift-engineering-innovation-to-india/articleshow/77369162.cms">Uber starts hiring engineers in India – after reports said CEO Dara Khosrowshahi is eager to shift engineering innovation to India</a>

IT and media employees are in no hurry to get back to office — not until there are proper policies in place

<ul><li><keyword id="7681538" type="UNKNOWN" weightage="20" keywordseo="Tech-Mahindra-CFO">Tech Mahindra CFO</keyword> <keyword id="388883" type="PERSON" weightage="20" keywordseo="Manoj-Bhat">Manoj Bhat</keyword> is happy with the budget but feels more could have been done to address the needs of the IT services industry specifically.</li><li>Taxation, for instance, could have been simplified to ease the cost of doing business across multiple geographies.</li><li>Since the IT services industry has been a huge job creator in India, it would also have been helpful if there were more incentives for employment generation.</li></ul>India’s latest budget did acknowledge the role of technology in economic revival. For instance, the government plans to introduce e-courts for faster resolution of disputes. It also earmarked ₹1,500 crore to dole our financial incentives for digital transactions. However, what the IT services players in India, like <keyword id="43217" type="CITY" weightage="20" keywordseo="Tech-Mahindra">Tech Mahindra</keyword>, HCL Technologies, Infosys, Wipro and Tata Consultancy Services (TCS), wanted to see was some relief on taxes and incentives for job creation. “I think the government has come up with a budget that is investment oriented. In a lot of ways that ticks a lot of the boxes. But, specifically for IT services, there’s nothing there,” Tech Mahindra CFO, Manoj Bhat told Business Insider in an exclusive interview. Taxation is getting more complicated world over The industry lobby, NASSCOM, hoped for some clarity on the tax framework with more employees working from home — a trend that many companies plan to stick to in some form or the other in the long run. “As companies like us become larger and operate in so many countries, helping us work through some easier tax situations esp in international context whether its around transfer pricing or some of the other laws that are coming through would have been nice,” said Bhat. Transfer pricing relates to the prices charged by different entities — located in different jurisdictions — for goods and services. The tax rules related to transfer pricing are complex. Governments, in India and abroad, are becoming increasingly proactive in scrutinising transfer pricing policies and practices. The IT services industries is a big job creator At a time when the Indian economy needs a demand boost, Tech Mahindra’s CFO also believes that the budget could have done with adding some incentives for job creation. “That’s something they should consider perhaps in terms of continuing some of the benefits that were offered in the past few years that are no longer there,” said Bhat. In the past, the sector has been a huge boon for creating new opportunities and helping the economy grow. NASSCOM estimates that the $200 billion industry created over 200,000 new jobs in 2019 — a year that saw massive unemployment in India. “We require WFH to be enabled in SEZs (Special Economic Zones on a long-term basis. Since this requires movement of duty-free goods like laptops etc outside the SEZs, the Finance Ministry should provide the requisite clarifications under Customs and GST,” said NASSCOM in their pre-budget expectations. Even though bigger players can do without the incentives, smaller and upcoming IT companies would have welcomed the relief. The demand for talent is also on the rise as businesses that were once hesitant about going digital are bringing up their timelines to ensure that their customers can still reach them even if stepping out of the house isn’t an option. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/india-becomes-the-first-asian-country-allow-small-investors-to-directly-lend-to-the-government/articleshow/80701417.cms">India becomes the first Asian country to allow small investors to directly lend to the government</a> <a href="https://www.businessinsider.in/science/space/news/isro-will-transform-in-2021-as-india-pumps-big-money-to-draw-in-startups-for-the-second-space-age/articleshow/80683054.cms">ISRO will transform in 2021 as India pumps big money to draw in startups for the 'second space age'</a> <a href="https://www.businessinsider.in/politics/news/new-citizenship-law-pulls-india-down-in-the-democracy-rankings-and-2021-is-not-looking-better/articleshow/80671194.cms">New citizenship law pulls India down in the democracy rankings — and 2021 is not looking better</a>

You Searched For "infosys wfh" and got 8 results

IT cities have the least number of vacant office spaces whereas metros like Delhi and Mumbai have the most

Vaamanaa Sethi

Work from office, moonlighting, mental well-being — Workplace trends of 2022 that are likely to persist in the new year

Vaamanaa Sethi

Companies want their employees back to office, but it is turning out to be difficult

Anagh Pal

SIMPLY PUT: Moonlighting is wrong... but is it really?

SIMPLY PUT: Moonlighting is wrong... but is it really?

Malini Bhupta

Hexaware Q1 net profit up 26.3 pc, suspends annual guidance amid COVID-19 pandemic

PTI

IT and media employees are in no hurry to get back to office — not until there are proper policies in place

Prabhjote Gill

INTERVIEW: Two things on Tech Mahindra CFO’s wishlist for the Budget 2021-22 that were left unaddressed

Prabhjote Gill

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