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Homegrown social commerce platform <keyword id="3480589" type="General" weightage="20" keywordseo="meesho" source="Orion">Meesho</keyword> on Monday announced a first-of-its-kind Boundaryless Workplace Model. Through this model, the firm is giving its employees the power to choose to work from home, office or any location of their choice. With a focus on seamless employee experience, Meesho will enable its workforce with real-time and virtual collaboration tools. "Driven by our mantra to build a people-centric workplace, Meesho has always ensured employees are at the core of everything we do. We have been championing many industry-first initiatives that have redefined conventional workplace norms and this new policy is a step in that direction," Ashish Kumar Singh, Chief Human Resources Officer, Meesho said. Providing opportunities for teams to even meet and collaborate in-person, the company is introducing initiatives like trips to attend quarterly summits and an annual workation in locations like Goa. To support working parents, Meesho will sponsor day care facilities for employees with children below 6 years of age. This can also be availed during official travels to Meesho's head office in Bangalore. According to a recent Sensor Tower report, the homegrown social commerce platform also became the only Indian company and e-commerce platform to feature among the top 10 most downloaded non-gaming apps across the world in October 2021. With new additions such as sports and fitness, pet supplies, automotive accessories among others, Meesho has now grown its roster to over 700 product categories. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/future-groups-kishore-biyani-mohandas-pai-and-68-others-invest-in-former-twitter-india-heads-latest-startup/articleshow/89403045.cms" data-type="tilCustomLink">Future Group’s Kishore Biyani, Mohandas Pai and 68 others invest in former Twitter India head’s latest startup</a> <a href="https://www.businessinsider.in/stock-market/news/macquarie-slashes-paytms-target-price-to-700-goldman-sachs-upgrades-it/articleshow/89401105.cms" data-type="tilCustomLink">Macquarie slashes Paytm’s target price to ₹700, Goldman Sachs upgrades it</a> <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/tata-steels-stock-on-a-gaining-spree-led-by-doubling-profits-huge-debt-reduction-and-hopes-from-the-union-budget/articleshow/89398818.cms">Tata Steel is on a gaining spree. Thanks to doubling profits, huge debt reduction, and hopes from the union budget</a>

Meesho allows employees to permanently work from anywhere

<ul><li>Startups that have secured Series A and Series B funding are well-capitalised and are actively seeking to hire new talent, says a report by FICCI and <keyword id="6439430" type="General" weightage="80" keywordseo="randstad" source="Orion">Randstad</keyword>. </li><li>Approximately 38% indicated that they intend to recruit more junior-level employees, while 27% plan to focus on mid-level hiring. </li><li>The sectors that will be most active will be aerospace &amp; defence, energy, and healthcare startups, which are expected to increase their hiring by over 30%. </li></ul>Even as the <a href="https://www.businessinsider.in/business/startups/news/16-startups-have-laid-off-100-percent-employees-in-2023-so-far-3-of-them-in-india/slidelist/98941663.cms">season of layoffs</a> continues unabated, a survey by industry body FICCI and HR services firm <keyword id="6421932" type="General" weightage="50" keywordseo="randstad-india" source="Orion">Randstad India</keyword> says that early-stage startups are keen on hiring. About 80% of the early-stage startups – those with a current workforce of fewer than 20 employees – are actively seeking to expand their workforce in 2023, the survey said. “Notably, these startups have secured Series A and Series B funding, are well-capitalised, and are actively seeking to hire new talent,” the report said. As many as 300 startups participated in the survey. However, there is another caveat – 92% of the startups surveyed said that their hiring decisions will primarily be driven by new project orders, additional funding raised from investors and expansion strategies. Most of these jobs will be at junior and mid-levels, the study says – approximately 38% indicated that they intend to recruit junior-level employees, while 27% plan to focus on mid-level hiring. The exceptions are agri/agritech and automotive sectors, which will focus more on senior-level C-suite hiring. The sectors that will be most active will be aerospace &amp; defence, energy, and healthcare startups, which are expected to increase their hiring by over 30%. Next come agri/agritech, AI/ML/deeptech, automotive, and e-commerce/delivery services, which are expected to increase hiring by 11-20%. “Every large corporation once started as an early-stage company and navigated its way through several challenges to reach where they are today. The Indian startup ecosystem will be a significant contributor to India’s economic growth over the next few years. These startups will eventually go on to create unique employment opportunities and career paths,” said Viswanath PS, MD &amp; CEO, Randstad India. Most of the surveyed startups (57.76%) are keen on hiring for permanent job roles, while 42% said they were looking to hire temporary and gig workers. Attrition, layoffs &amp; job insecurity Startups have been hit hard by layoffs since the funding winter that set in during the second half of 2022. In the last couple of quarters, funding activity has slowed down by as much as 80%, and startups find their spending power to retain their people severely restrained, the report said. Startups like Byju’s, Udaan, Oyo, Meesho, Swiggy, Dunzo and more have been laying off employees in the last few quarters. On the other hand, startups also face high attrition rates, due to the job insecurity that comes with working in a startup, which has only risen due to large-scale layoffs. According to estimates by Analytics India Attrition Study 2022, high-growth startup companies face a high attrition rate of 43.7 % – which is about 1.7x that of typical organisations – despite better pay packages and growth opportunities. “In our survey, 54.38 % of the startups attributed the high attrition rate to better pay packages by bigger corporates and fear of job security in a startup — besides lack of clarity in career progression clarity and credibility issues,” the FICCI survey said. Startups also face hiring challenges like deficit in requisite skills, mismatches in salary expectations and a reluctance among potential candidates to join a startup due to concerns over risk perception, the survey added. To combat these issues, startups are using employee stock options or ESOPs as a retention tool. And, 41.5% of surveyed startups said they already offer them to their employees. SEE ALSO <a href="https://www.businessinsider.in/careers/news/hiring-outlook-remains-strong-for-blue-collar-jobs-in-manufacturing-and-services-in-q1-2024/articleshow/99060293.cms">Amid layoff doom, hiring outlook remains strong for blue-collar jobs in manufacturing and services: TeamLease</a>

Early-stage startups keen on hiring for mid and junior roles: FICCI-Randstad survey

Several global megatrends are transforming work and skill demands, such as technology, climate change, demographic shifts, urbanisation, and global value chains. People are no longer settling for unfulfilling and unhappy roles in the middle of ‘The Great Resignation.’ They desire learning, self-improvement, and knowledge growth instead. Applicants expect their employers to provide ongoing learning and development (L&amp;D) opportunities. With multiple advancements in modern technology, work practices need to evolve and keep pace, paving the way for continuous process improvement. Without a doubt, today, it is essential for the labour force to have skill sets on par with market trends. The development of skills contributes to structural transformation and employee productivity. Rethinking upskilling In light of this, Business Insider got candid with a few professional leaders. When asked how they needed to rethink their business to accommodate the next-generation workforce? Margaret D'Souza, Chief Human Resources Officer at Zeta, said, "Millennials and Gen Zers have been relatively evenly distributed in the workforce. They have experienced a career awakening, and work has not become the centre of their lives, but merely a part of it. Their primary concerns are, "how fast can I achieve my goals," "what is my life's purpose," and "is my passion aligned with what I am doing?" This has in turn accelerated how much they want to learn. This replaced long-term career development decisions with short-term ones. They now look for faster role growth and faster opportunities to use new skills. “On the bright side, they have a thirst for doing more in less time thanks to the pandemic, which provided ample opportunities to pursue other passions and opened up their eyes to new perspectives on their careers,” she said. It is agreeable, though that the current and next-generation workforce is 1. Self-motivated 2. Possess tech-savvy intelligence. 3. Desire to reinvest in oneself 4. Seek an advantage in cutting-edge technologies “So, the responsibility falls on companies to learn to be agile and stay relevant to help employees upskill,” Ashish <keyword id="255172" type="General" weightage="80" keywordseo="kumar-singh" source="Orion">Kumar Singh</keyword>, CHRO, Meesho opines. However, businesses still face a problem in adjusting to this marginally different view of a career and in making wise decisions to effectively retain and develop their personnel. Therefore, investing in a skilled workforce can start a positive loop of increased productivity. As a result, both the existing and future workforces are more productive and employable. <keyword id="15985200" type="General" weightage="80" keywordseo="pooja-dudani" source="Orion">Pooja Dudani</keyword>, AVP of HR at Cast24, sheds light on the same, saying, “Regardless of their work conditions, this generation is aware that it is up to them to make a difference and will do so." They are not the type to hope for a great opportunity from a potential employer.” Motivating the workforce The big question now would be, How do we keep these go-getters interested, relevant and motivated to stay in a job and get things done? Geetika Hans, VP and Head of HR for Product and Global Functions and Diversity Leader at OYO Rooms, said, “This generation needs to be challenged with more responsibility than what you would normally give someone their age. They are aware that they are investing their time into a company, which is why they command flexibility." One strategy for keeping employees on a growth cycle in a fast-paced environment is to encourage microlearning. Microlearning is a brief, concise kind of employee training. When training material is presented in easily digestible pieces at the right moment, it is more likely to be remembered. Additionally, future-proofing your wokrforce by nurturing in-house talent for leadership roles provides a big boost. Puneet Khurana, CHRO <keyword id="161885" type="General" weightage="80" keywordseo="policy-bazaar" source="Orion">Policy Bazaar</keyword>, explains the perks of doing so, “Growing leaders internally and saving senior positions for current employees helps avoid onboarding leaders in the future, which saves time and money." Additionally, it gives workers a chance to progress their careers and raises morale because a happy worker is always a productive one.” <keyword id="592503" type="General" weightage="80" keywordseo="lokendra-saini" source="Orion">Lokendra Saini</keyword>, COO at Ease my Trip, advises every organisation to have an academy to groom its resources so they know that the company is investing in them. The cherry on top of the cake here would be to offer internal job postings so employees can look at growing another skill within the company. Arushee Aggarwal, Head of Coursera Business, added to that suggestion, pointing out that role-based skilling would produce a better ROI. “It is important to tie learning opportunities to end points like possible career opportunities to ensure the upskilling is taken seriously." Companies thrive under this kind of growth. Upskilling: Gauging success metrics However, it isn’t enough to develop the program and ask people to participate. Although it’s critical to be enthusiastic about this initiative, leaders should also take steps to maximize its accuracy and efficiency. Let’s examine some best practices for assessing skill gaps and reskilling top talent. How can leaders gauge the success of upskilling initiatives? The large-level indicators that help leaders understand that an employee is on the right track 1. Check on improvement in productivity. 2. Check if the employees are able to impact business goals. Pooja Dudani, AVP of HR at Cast24, concluded by saying employers and leaders should journey with employees till the goal is reached. It’s less of a lone ranger and more of a partnership. In isolation, the end goal will die. Talent and skills need to be nurtured. That being said, it’s important to monitor and reward small milestones through regular one-on-ones. Despite the advantages, a lot of reskilling programmes frequently fail because of a lack of readiness, useful tools, and competent talent. Because of this, it's critical to spot skills shortages early on and pick the appropriate candidates for retraining. The last and possibly most important step is to evaluate your efforts. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

How upskilling can drive employee and business growth

<ul><li>The tech industry has seen more than 200,000 <keyword id="6357067" type="General" weightage="100" keywordseo="layoffs" source="Orion">layoffs</keyword> since the start of 2022.</li><li>Instead of performance, the focus for layoffs is more on eliminating redundant roles that no longer add a major value to the organization.</li><li>Some of the red flags an employee should look out for are a decrease in hiring, budget cuts and changes in management.</li></ul>Bipin Singh, a business development manager at Byju’s with over 11 years experience in the EdTech industry was laid off last month after a stint of 1.5 years at the company. In his LinkedIn post he mentioned about the layoff and urged everyone to reach out to him with job offers or if not, like share and comment on his post to increase reach. Anil <keyword id="906861" type="General" weightage="50" keywordseo="sahani" source="Orion">Sahani</keyword>, a software engineer, lost his job in Accenture recently .“I was one of the first ones to let go as I was a contract employee and also did not have any notice period. The layoffs are still on.” Singh and Sahani are among the thousands of employees who have been affected by tech layoffs in India. Google trend data, which reflects what people search for, shows that between January 22-28 this year, the term ‘layoff’ was at its peak popularity of 100, while between January 23 to January 29 last year, it was just at five. This is not surprising because layoffs are being reported majorly in the media and almost every other post on Linkedin is talking about layoffs. It all started with the news that the big tech giants like Amazon and Google parent Alphabet were laying off in large numbers. While Alphabet laid off 12,000 people, the Amazon layoffs affected more than 18,000 people. Microsoft said it will lay off 10,000 people by the end of the third quarter of 2023 and even SAP and IBM have started laying off employees. It seems it is almost like a contagion that is spreading rapidly like wildfire. The Indian situation: Which brings us to the question: Is the situation as bad in India? Layoffs are now a reality in India too. Reports suggest that around 21,000 techies have lost their jobs in the last three to four months. In the third week of January, Wipro fired more than 400 freshers for failing performance tests. While Amazon has laid off 1,000 of its employees in India, IBM and SAP are also laying off employees, affecting their employees in India as well. Very recently, Byju’s laid off 1,000 people, in a second round of layoffs in February. Sivaprasad N, vice president &amp; business head, TeamLease Digital, a staffing solutions company, puts the number of layoffs in the tech industry at more than 2,00,000 since 2022. Over 21,000 employees <a href="https://www.businessinsider.in/business/news/70-plus-indian-startups-show-exit-door-to-21k-techies-more-pink-slips-coming/articleshow/97411761.cms?">have been laid off </a>by 70 startups in the past 3-4 months including from unicorns like BYJU'S, <keyword id="6354720" type="General" weightage="50" keywordseo="ola" source="Orion">Ola</keyword>, MPL, Innovaccer, Unacademy, Vedantu, Cars24, OYO, Meesho, Udaan and many more. Anuj Gupta, who has over 10 years of experience in SEO, has lost his job in edtech company upGrad and is a part of the current tech and marketing layoff wave. The layoff situation in India is currently more of a spill-over effect of shake-ups in the West. Unlike the funding winter that hit the Indian funded tech startups cohort in 2022, the current layoffs by big labels are largely corrective talent adjustments. “Despite potential opportunities coming our way due to global shakeups, it is prudent for India Inc. to treat the current layoffs as a tip of the iceberg,” says <keyword id="138078" type="General" weightage="50" keywordseo="kamal-karanth" source="Orion">Kamal Karanth</keyword>, CoFounder, Xpheno, a specialist staffing company. He adds that enterprises, especially in tech, will benefit from remaining alert and conservative on costs for at least two quarters. Agrees Sivaprasad, “Companies are battling a slowdown in demand after a hiring frenzy. No company is certain to avoid significant cutbacks in such an economic environment. We are witnessing a significant drop in tech hiring unlike previous years as companies are only doing selective hiring for critical projects. It looks like the trend will continue for some time.” Many IT majors have announced mass layoffs in the last couple of months, quoting factors like overhiring, an impending recession and geopolitical conflicts. “We expect businesses to exhibit caution in hiring and workforce management through a major part of 2023,” <keyword id="13896318" type="General" weightage="50" keywordseo="sachin-alug" source="Orion">Sachin Alug</keyword>, CEO, NLB Services - a global technology &amp; digital talent solutions company. Delhi-based Pankaj Kumar, laid off from a software company this month, says that one day he got a message saying that the company was restructuring and that it was his last day. “However, we were forced to resign and also we received very little in the name of assistance as promised.” Kumar feels that most startups today have no clue about manpower requirements and just hire to show their investors that they are doing well without having an idea of how they can sustain themselves in crucial times. Tech jobs have been the most affected: As discussed, tech companies, especially IT firms, are very vulnerable to an impending recession in the US. “The tech sector has always been highly sensitive to economic cycles, and the current economic downturn could have a significant impact on these companies. A recession could lead to decreased consumer spending, reduced corporate investment, and layoffs, which could all hit tech companies hard,” says <keyword id="328697" type="General" weightage="50" keywordseo="sandeep-budhiraja" source="Orion">Sandeep Budhiraja</keyword>, Co-founder, Executive Director and Chief People Officer - BYLD Group which provides HR and Business productivity solutions, Additionally, the US market is a major source of revenue for many tech companies, so a recession here could have a widespread impact on global operations. Finally, any disruption to the global supply chain could further disrupt tech companies, as many rely on components and materials sourced from around the world. “The sectors that may be most affected, other than the technology, are telecommunications, financial services and retail. The telecommunications sector could be hit by reduced investment in infrastructure and lower customer demand. The financial services sector could be adversely affected by a decrease in credit availability and tightened lending standards, while the retail sector could suffer from decreased consumer spending,” adds Budhiraja. Everyone is vulnerable: “Instead of performance, the focus for layoffs is more on eliminating redundant roles that no longer add major value to the organization. Usually, mass layoffs affect employees invariably regardless of their performance but in organizations that choose to let go of a selected few, performers at a certain level tend to be the target,” says Alug. The primary causes of layoffs are the foreseeable recession and the geopolitical scenario which have led to inflation, impacting many industries. Prominent players in the IT and Technology domain are being cautious to ensure profitability and better predictability of business. Agrees Karanth, “The larger layoffs related to enterprise strategy and austerity are mostly across the ranks and ratings of performance. Such layoffs related to macroeconomic movements are typically steamrollers on entire divisions, geographies and business units. While each enterprise has their own pattern of priority on the layoffs, the high cost and high volume headcounts typically come under the lens faster.” Look out for red flags: “Layoffs in a situation like now are largely written on the wall. It is often the speed and style of a layoff that's a surprise to talent, and not the layoff by itself,” says Karanth. Some of the red flags an employee should look out for are a decrease in hiring, budget cuts and changes in management. “Additionally, if a company is reducing or eliminating certain departments or projects, it may be a sign that layoffs are coming. If there are rumours of layoffs or if employees are being asked to take unpaid leave, this could also be a sign that layoffs are imminent. Finally, if the company is not meeting its financial goals or is experiencing a downturn in business, layoffs may be a possibility,” says Alug. Hiring remains slow: “Many of those who lost their jobs are still looking for work, as nearly every major corporation has put a freeze on new hiring due to global macroeconomic conditions and recession fears. We are witnessing a significant drop in tech hiring unlike previous years as companies are only doing selective hiring for critical projects. Looks like the trend would continue for some time,” says Sivaprasad. However Karanth feels that while tech hiring has slowed down, there are opportunities for talent who are flexible and agile to look beyond their domain. The non-tech sector's talent demand has been compensating well for tech's hiring slowdown. <keyword id="2838370" type="General" weightage="50" keywordseo="shraddha-jain" source="Orion">Shraddha Jain</keyword>, who is also known as 'Aiyyo Shraddha' on social media, posted a hilarious video on Instagram, where she slammed companies for laying off employees despite making a profit. "At the company offsite, we celebrated the company tripling its profit in a year. What happened? A month later we are so poor. Who robbed us?" she asked. While these are questions that reflect the grim reality of large scale layoffs, employees should brace themselves for tough times ahead. 2023 will be a turbulent ride.

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Meesho allows employees to permanently work from anywhere

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Early-stage startups keen on hiring for mid and junior roles: FICCI-Randstad survey

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How upskilling can drive employee and business growth

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