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The parents were right, folks; we should have been looking out for a government job, especially if you reside in the startup capital of India. In a move that has left <keyword id="19974189" type="General" weightage="20" keywordseo="private-sector" source="keywords">private sector</keyword> employees green with envy, the <keyword id="19896017" type="General" weightage="20" keywordseo="karnataka" source="keywords">Karnataka</keyword> cabinet on Monday decided to implement the recommendations of the <keyword id="20985744" type="General" weightage="20" keywordseo="Seventh-Pay-Commission" source="keywords" meta.keywordsubtype="org" meta.entityname="Seventh Pay Commission" meta.hostid="261" meta.entityid="Seventh Pay Commission">Seventh Pay Commission</keyword>, resulting in an impressive 27.5% hike in the basic salary of state government employees. <h2><keyword id="20727223" type="General" weightage="20" keywordseo="pay-hike" source="keywords">Pay hike</keyword> like few others</h2>The Chief Minister is expected to make the official announcement in the Legislative Assembly, detailing how over seven lakh state government employees will benefit from this substantial increase starting August 1, as per sources. The Seventh Pay Commission, chaired by former chief secretary K Sudhakar Rao, has recommended this hefty pay rise, which will cost the state exchequer an additional Rs 17,440.15 crore annually. This move comes on the heels of the interim 17% salary hike given by the former Chief Minister Basavaraj Bommai in March 2023, to which the current administration is adding another 10.5%, making the total hike 27.5%. <div type="Article" hostid="261" msid="111663090" title="The latest trick companies could be using to pay workers less" mstype="2" mssubtype="0"></div>The decision for this remarkable pay raise wasn't just an act of benevolence, however. The Karnataka State Government Employees Association had announced plans to go on an indefinite strike starting August, pressuring the Siddaramaiah government to act decisively. With this hike, the state administration aims to not only meet the demands of its employees but also to bolster morale and productivity within its workforce. <h2>Miles above the average</h2>To put this in perspective, let's compare the raise to the private sector. HR research firm Aon's latest survey indicates that while India Inc. is set to offer an average hike of 9.5% in 2024, the manufacturing sector is expected to be the most generous with a 10.1% increase. Financial institutions come close with a 9.9% hike, and Global Capability Centres (GCCs) of multinational firms are likely to offer 9.8%. Even tech product companies, known for their competitive salaries, are projected to give an average hike of 9.5%. Yet, all these figures pale in comparison to the Karnataka government's increment. <h2><keyword id="21315567" type="General" weightage="20" keywordseo="employee-retention" source="keywords">Employee retention</keyword></h2>As private companies grapple with attrition rates that have almost reached pre-pandemic levels, the Karnataka government's move could be seen as a strategic effort to attract and retain talent. Aon's study shows that attrition in 2023 was 18.7%, a decrease from over 21% in 2021 and 2022. By offering a significant pay hike, the Karnataka government is positioning itself as an attractive employer in a competitive <keyword id="19916569" type="General" weightage="20" keywordseo="job-market" source="keywords">job market</keyword>. <div type="Article" hostid="261" msid="111115782" title="Flexibility, salary key jobseeker parameters for new roles in India: Report" mstype="2" mssubtype="0"></div>However, even if you look at salary increments across Asia Pacific countries, India's expected average hike of 9.5% is significantly higher than its neighbours. Bangladesh follows at 7.3%, China at 5.7%, and Japan at a modest 3.6%. Karnataka's 27.5% hike, therefore, is not just a national highlight but an extraordinary figure in the broader regional context. In an era where private sector employees are often seen as the beneficiaries of generous pay hikes, Karnataka's state government has flipped the script. With this 27.5% salary hike, the allure of a government job in Karnataka has never been stronger.

Time for a govt job? Karnataka announces impressive 27% pay hike for state employees

The <keyword id="22906567" type="General" weightage="100" keywordseo="Unified-Pension-Scheme" source="keywords">Unified Pension Scheme</keyword> (<keyword id="19904859" type="General" weightage="20" keywordseo="UPS" source="keywords">UPS</keyword>) is a newly introduced <keyword id="20146379" type="General" weightage="20" keywordseo="pension" source="keywords">pension</keyword> system approved by the <keyword id="19909268" type="General" weightage="20" keywordseo="Indian-government" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian government" meta.hostid="261" meta.entityid="Indian government">Indian government</keyword> aimed at providing guaranteed pensions, family pensions, and a minimum assured pension for central <keyword id="19933272" type="General" weightage="20" keywordseo="government-employees" source="keywords">government employees</keyword>. It is set to take effect from April 1, 2025. <h3>Who is eligible for the UPS?</h3>The scheme is applicable to central government employees who have completed a minimum of 10 years of service. It also reportedly offers a choice to current employees between the existing National Pension System (<keyword id="19919089" type="General" weightage="20" keywordseo="NPS" source="keywords">NPS</keyword>) and the new UPS. This includes employees who are retired or retiring on or before 31 March 2025 with arrears. Once selected, the choice will reportedly be final for both current and future employees. <h3>What are the key benefits of the UPS?</h3><ul><li>Guaranteed Pension: Employees will receive a pension equivalent to 50% of their average basic salary from the last 12 months prior to <keyword id="19908343" type="General" weightage="20" keywordseo="retirement" source="keywords">retirement</keyword>, provided they have completed at least 25 years of service. This is proportionately reduced for those with less than 25 years but more than 10 years of service.</li><li>Family Pension: In the event of the pensioner's death, the family is entitled to receive 60% of the pension amount that was being disbursed at the time of the pensioner's passing.</li><li>Minimum Pension: A guaranteed minimum monthly pension of Rs 10,000 is assured after retirement for those with at least 10 years of service.</li></ul><h3>How will the pension be adjusted for inflation?</h3>The UPS includes a provision for <keyword id="22911270" type="General" weightage="20" keywordseo="inflation-adjustment" source="keywords">inflation adjustment</keyword> through Dearness Relief (DR), which is linked to the All India Consumer Price Index for Industrial Workers (AICPI-IW). This ensures that the pension, family pension, and minimum pension keep pace with inflation. <div type="Article" hostid="261" msid="112777109" title="GST Council meet: TMC&amp;#39;s O&amp;#39;Brien urges Sitharaman to withdraw 18 pc GST on insurance premiums" mstype="2" mssubtype="0"></div>The government's contribution to the pension fund has been increased from 14% to 18.5% of the employee's salary. This is part of the government's commitment to ensuring the <keyword id="20615853" type="General" weightage="20" keywordseo="financial-security" source="keywords">financial security</keyword> of its employees in retirement. In addition to the regular pension, employees will receive a lump-sum payment at the time of superannuation. This will be 1/10th of the monthly salary (including basic pay and Dearness Allowance) for every six months of completed service. <h3>How does the UPS compare with the NPS?</h3>The UPS offers a guaranteed pension and family pension, whereas the NPS is a contributory scheme where the final pension amount depends on the accumulated corpus and market performance. Employees under the UPS have the security of a fixed pension, while the NPS offers potentially higher returns but with associated risks. The central government has made the framework of the UPS available to state governments. If adopted, it could benefit around 90 lakh state government employees currently under the NPS. <h3>What is the broader impact of the UPS?</h3>As per current estimates, the implementation of the UPS is expected to cost the government an additional Rs 6,250 crore in its first year. The costs will be reassessed every three years to ensure sustainability. The introduction of the new pension scheme is potentially a significant step toward ensuring the financial security and dignity of government employees in their retirement years. It remains to be seen whether it will effectively address the growing demands for a more secure pension system and improve <keyword id="21935721" type="General" weightage="20" keywordseo="employee-welfare" source="keywords">employee welfare</keyword>.

Confused by the newly introduced Unified Pension Scheme? Here’s all you need to know about how it will work

The just-announced <keyword id="22906567" type="General" weightage="100" keywordseo="Unified-Pension-Scheme" source="keywords">Unified Pension Scheme</keyword> for central <keyword id="19933272" type="General" weightage="20" keywordseo="government-employees" source="keywords">government employees</keyword> will be available only for those who are currently subscribers of the New Pension Scheme (NPS), including retirees. The new scheme guarantees employees 50% of their average basic pay over the last 12 months before retirement, as a pension for a minimum qualifying service of 25 years against a market returns linked payout under the NPS. According to the scheme approved by the Union Cabinet, the pension will be proportionate for a lesser service period of up to a minimum of 10 years. Also, assured pension of Rs 10,000 per month on superannuation after a minimum of 10 years of service will be provided. The scheme has been brought out to address the concerns of government employees over NPS, which came into effect from January 1, 2004. Under the <keyword id="3246232" type="General" weightage="20" keywordseo="Old-Pension-Scheme" source="Orion">old pension scheme</keyword> (OPS), effective before January 2004, employees got 50 % of their last drawn basic pay as pension. Unlike the old pension scheme, UPS is contributory in nature, wherein employees will be required to contribute 10% of their basic salary and dearness allowance while the employer's contribution (the central government) will be 18.5%. Under the NPS, the employer contribution is 14%, and the employee contribution is 10%. However, the eventual payout depends on the market returns on that corpus, mostly invested in government debt. Employees, under the OPS, were not required to make any contribution. They, however, contributed to the General Provident Fund (GPF). The accumulated amount, along with interest, was paid to the employee at the time of retirement. As the NPS was less attractive than the OPS, several non-BJP-ruled states decided to go back to the old pension scheme, which offered a DA-linked benefit. This prompted the Centre to constitute a committee in April 2023, under former Finance Secretary and now Cabinet Secretary-designate TV Somanathan to suggest improvement in the NPS architecture. Fulfilling the long pending demands of government employees ahead of assembly elections in Haryana and Jammu and Kashmir, the Union Cabinet on August 24 approved the UPS, which will provide assured pension to 23 lakh eligible central government employees. Those opting for the UPS will not be able to switch back. The UPS will put an additional burden of Rs 6,250 crore on the exchequer per year. The expenditure will vary every year according to variations in the number of employees. In addition, there will be an arrear of Rs 800 crore that has to be paid under the National Pension System (NPS) to employees retiring before March 31, 2025. If these retirees opt for UPS, they will receive arrears. "UPS is being implemented by the Central Government, benefitting 23 lakh central government employees," Information &amp; Broadcasting Minister Ashwini Vaishnaw said on X on Sunday. If states also adopt the UPS architecture, a total of over 90 lakh government employees, who are presently on NPS, would be benefitted, he added. On Sunday, Maharashtra, where assembly elections are due later in the year, became the first state to announce the adoption of the UPS for its employees. RSS-affiliate Bharatiya Mazdoor Sangh (BMS) said though the government has attempted to overcome the shortcomings of the NPS, there are still some issues compared to OPS. BMS will decide its future course of action only after a detailed study of the UPS after it is notified. All India Trade Union Congress (AITUC) said it is nothing but an extension of the existing NPS. The trade union expressed apprehensions that UPS will have a lot of aberrations once implemented. AITUC reiterated that it will continue to fight for the restoration of the non-contributory OPS. ICRA Chief Economist Aditi Nayar said assured pensions will add to the government's committed expenditure in the future while reducing the uncertainty for employees. "This will have to be built into the fiscal consolidation roadmap going ahead," Nayar added. The UPS reflects a thoughtful approach to long-term social security, addressing concerns about the adequacy and sustainability of pension benefits in a rapidly changing economic landscape, said Shardul Amarchand Mangaldas &amp; Co Partner Dorothy Thomas. "This move signals the government's commitment to providing robust support for its workforce, enhancing financial stability for millions of government employees across the country," Thomas said.

Over 23 lakh govt employees under NPS get option to choose unified pension scheme

The Ministry of Labour and Employment recently directed the Employees' Provident Fund Organization (<keyword id="19966712" type="General" weightage="100" keywordseo="EPFO" source="keywords">EPFO</keyword>) to ensure the activation of UAN (<keyword id="20789489" type="General" weightage="20" keywordseo="universal-account-number" source="keywords">Universal Account Number</keyword>) via Aadhar-based OTP. The outreach is part of announcements made during the Union Budget 2024-25, which aim to maximize the net of beneficiaries under the Employment Linked Incentive (ELI) Scheme. The central government has already directed concerned ministries and departments to ensure that payment of all subsidies and incentives under all welfare schemes occurs via the Aadhar Payment Bridge and that 100% biometric Aadhar authentication is achieved. Notably, Aadhaar-based verification eliminates the need for producing multiple documents to prove one's identity. In the first stage, all employers must complete <keyword id="24089674" type="General" weightage="20" keywordseo="UAN-activation" source="keywords">UAN activation</keyword> through Aadhar-based OTP for all employees who've joined the company in the current financial year by November 30, 2024. Starting with their latest recruits, employers will have to finish this process for all their employees. As per the budget announcements, the government will implement 3 schemes for 'Employment Linked Incentive' as part of the Prime Minister's package. These will be based on enrollment in the EPFO and focus on recognition of first-time employees and support to employees and employers. The ELI Scheme aims to create over 2 crore jobs in the country in 2 years. This will significantly contribute to increasing employment opportunities and enhancing livelihoods. UAN activation provides employees with seamless access to EPFO's comprehensive online services, enabling them to efficiently manage their Provident Fund (PF) accounts, view and download PF passbooks, submit online claims for withdrawals, advances, or transfers, update personal details, and track claims in real-time. This allows employees 24/7 access to EPFO services from the comfort of their homes, eliminating the need for physical visits to EPFO offices. For the uninitiated, UAN is a 12-digit number allotted to each member of EPFO (Employee Provident Fund Organization). Think of UAN as a single-point number that brings together multiple member IDs that have been allocated to a particular employee. In September this year, EPFO added 18.81 lakh members, registering a 9.33% YoY growth.

EPFO to ensure UAN activation for employees through Aadhaar-based OTP

<ul class="summary-list"><li><a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-microsoft-openai-lawsuit-amended-monopoly-ai-sam-altman-2024-11">Elon Musk has added Microsoft and Reid Hoffman as defendants</a> in his lawsuit against OpenAI.</li><li>Musk is accusing OpenAI and Microsoft, which have a partnership worth billions, of building an AI monopoly.</li></ul>Elon Musk is doubling down on his lawsuit against OpenAI, and he's taking issue with what they pay employees.Musk added Microsoft and <a target="_blank" class="" href="https://www.businessinsider.com/reid-hoffman">Reid Hoffman</a>, who is a Microsoft board member and former OpenAI board member, as defendants in his lawsuit against OpenAI. Microsoft has poured nearly $14 billion in OpenAI, including a $10 billion investment it announced last year.<a target="_blank" class="" href="https://www.businessinsider.com/history-of-elon-musk-and-sam-altman-relationship-feuds-2023-3">Musk cofounded OpenAI in 2015</a> but has since severed ties and become one of its most biggest critics. He left its board in 2018 and created <a target="_blank" class="" href="https://www.businessinsider.com/elon-musks-xai-on-track-valued-at-more-than-x-2024-10">his own AI company, xAI</a>, last year.In his complaint, Musk alleges that OpenAI and Microsoft are engaging in anticompetitive practices, including "lavish compensation," to corner the market on generative AI."OpenAI has attempted to starve competitors of AI talent by aggressively recruiting employees with offers of lavish compensation, and is on track to spend $1.5 billion on personnel for just 1,500 employees," his lawyers wrote in the amended complaint.So just how much does OpenAI pay its employees?Since it's a private company, OpenAI isn't required to report compensation data in the way public companies must. But we have some indicators.Levels.fyi, which tracks compensation data at tech firms and startups, <a target="_blank" class="" href="https://www.levels.fyi/companies/openai/salaries">says</a> total yearly compensation at OpenAI ranges from $144,275 for a technical writer to $1,338,750 for a software engineer. OpenAI's median yearly total compensation is $534,197, according to data reported on the tracker.For software engineers specifically, the median yearly total compensation reported on Levels.fyi is $810,000 at OpenAI compared to $257,500 in the tech hub of the San Francisco Bay Area more broadly.Levels.fyi <a target="_blank" class="" href="https://www.levels.fyi/offerings/data/">says</a> it mostly uses self-reported user data but also verifies some reported compensation with documents like offer letters and pay statements that users can choose to submit.The most common salary range for an engineering role on OpenAI's website, not including stock awards or bonuses, is $200,000 to $370,000, Roger Lee, co-founder of compensation benchmarking firm Comprehensive.io, <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2023-11-22/openai-staff-mutiny-for-sam-altman-shows-rare-skills-equal-leverage">told</a> Bloomberg last year. Compensation in listings for more specialized positions were higher at $300,000 to $450,000, he added.Amid the generative AI boom, the industry has largely enjoyed higher pay and greater job security against mass layoffs than the rest of the tech sector outside of AI.OpenAI, Microsoft, and Hoffman did not immediately respond to requests for comment.Musk first <a target="_blank" rel="" href="https://www.businessinsider.com/elon-musk-sues-sam-altman-betrays-openai-mission-chatgpt-2024-3">sued OpenAI and its cofounders Sam Altman and Greg Brockman</a> in March, accusing the company of deviating from its "founding agreement" to be nonprofit by partnering with Microsoft. OpenAI responded that <a target="_blank" rel="" href="https://www.businessinsider.com/openai-calls-elon-musk-lawsuit-incoherent-2024-3">the lawsuit was "incoherent" and "contradictory."</a>Musk <a target="_blank" rel="" class="" href="https://www.businessinsider.com/elon-musk-drops-lawsuit-against-sam-altman-and-openai-2024-6">dropped his lawsuit</a> without explanation in June before <a target="_blank" rel="" class="" href="https://www.businessinsider.com/elon-musk-sues-openai-sam-altman-again-why-2024-8">filing the latest suit in August</a>, arguing that OpenAI now prioritizes commercial interests over its original goal of building AI that's beneficial for humanity and claiming he was "deceived" into cofounding the company. OpenAI in 2019 introduced a "capped-profit" arm, and in September said it's <a target="_blank" rel="" class="" href="https://www.businessinsider.com/what-openai-needs-to-do-to-become-for-profit-altman-2024-9">moving towards a for-profit governance structure</a>.

Elon Musk says OpenAI's compensation is 'lavish.' Here's how much employees get paid.

The Union <keyword id="6355513" type="General" weightage="20" keywordseo="cabinet" source="Orion">Cabinet</keyword> on Wednesday approved a four per cent increase in <keyword id="6429991" type="General" weightage="50" keywordseo="dearness-allowance" source="Orion">Dearness Allowance</keyword> (DA) for Central government employees and Dearness Relief for pensioners. Briefing reporters about the decisions of the union cabinet, Information and Broadcasting Minister <keyword id="6364468" type="General" weightage="50" keywordseo="anurag-thakur" source="Orion">Anurag Thakur</keyword> said the decision will be implemented from July 1 this year. "Dearness Allowance for Central government employees and Dearness Relief for pensioners has been increased by 4%. The <keyword id="663200" type="General" weightage="60" keywordseo="DA-hike" source="Orion">DA hike</keyword> will be implemented from 1, July 2023," he said. The decision will benefit 48.67 lakh Central Government Employees and 67.95 lakh pensioners. The minister said the decision has come in the festival season and will benefit both the central government employees and pensioners. Generous bonus for railway employees The Cabinet has also granted approval for a Productivity Linked Bonus (PLB) that amounts to 78 days wages for eligible non-gazetted Railway employees. This bonus is for the financial year 2022-23 and will benefit a wide array of railway staff, including Track maintainers, Loco Pilots, Train Managers (Guards), Station Masters, Supervisors, Technicians, Technician Helpers, Points man, Ministerial Staff, and other Group 'C' staff, excluding Railway Protection Force (RPF)/ Railway Protection Special Force (RPSF) personnel, read the press release issued by Cabinet. This move comes in recognition of the outstanding performance of the railway employees throughout the financial year 2022-23. The Union Government has sanctioned a PLB totalling Rs 1,968.87 crores, which will be disbursed to approximately 1,107,346 railway employees, read the press release. (This copy will be updated)

Dearness allowance of central government employees hiked by 4%

<ul class="summary-list"><li>Trump picked Elon Musk and Vivek Ramaswamy to co-lead DOGE, a new government efficiency commission.</li><li>Their aim is to cut government spending, and one idea they've floated is to ax federal agencies.</li></ul>Elon Musk's <a target="_blank" href="https://www.businessinsider.com/trump-elon-musk-vivek-ramaswamy-department-government-efficiency-doge-2024-11">government efficiency commission</a> could end up costing some federal workers their jobs.As he and former GOP presidential candidate Vivek Ramaswamy begin to outline their priorities as leaders of the Trump-created Department of Government Efficiency, one of them seems to be eliminating government agencies.Most recently, Ramaswamy <a target="_blank" href="https://www.businessinsider.com/vivek-ramaswamy-doge-wants-to-delete-entire-federal-agencies-2024-11">told</a> Fox News, "We expect certain agencies to be deleted outright."Over 2 million Americans collect their paychecks from <a target="_blank" class="" href="https://www.gao.gov/blog/combatting-discrimination-our-nations-largest-employer-federal-government">the federal government</a>, so Business Insider looked into which agencies employ the most people and what they pay on average.When asked about areas the commission would prioritize for spending cuts, Karoline Leavitt, a spokesperson for the Trump-Vance transition, previously told BI: "The American people re-elected President Trump by a resounding margin giving him a mandate to implement the promises he made on the campaign trail. He will deliver."<h2 id="e6f6b74e-0829-43a1-a382-8c22ea402f53">The US government is the largest employer in the country</h2>The <a target="_blank" class="" href="https://www.fedscope.opm.gov/ibmcognos/bi/?perspective=dashboard&amp;pathRef=.public_folders%2FFSe%2B-%2BEmployment%2BDashboards%2FEmployment%2B-%2BCurrent%2BMonth&amp;id=i7402E6149B934CAAA867A1B58E0B4ECE&amp;objRef=i7402E6149B934CAAA867A1B58E0B4ECE&amp;options%5Bcollections%5D%5BcanvasExtension%5D%5Bid%5D=com.ibm.bi.dashboard.canvasExtension&amp;options%5Bcollections%5D%5BfeatureExtension%5D%5Bid%5D=com.ibm.bi.dashboard.core-features&amp;options%5Bcollections%5D%5Bbuttons%5D%5Bid%5D=com.ibm.bi.dashboard.buttons&amp;options%5Bcollections%5D%5Bwidget%5D%5Bid%5D=com.ibm.bi.dashboard.widgets&amp;options%5Bcollections%5D%5BcontentFeatureExtension%5D%5Bid%5D=com.ibm.bi.dashboard.content-features&amp;options%5Bcollections%5D%5BboardModel%5D%5Bid%5D=com.ibm.bi.dashboard.boardModelExtension&amp;options%5Bcollections%5D%5BsaveServices%5D%5Bid%5D=com.ibm.bi.dashboard.saveServices&amp;options%5Bcollections%5D%5BserviceExtension%5D%5Bid%5D=com.ibm.bi.dashboard.serviceExtension&amp;options%5Bcollections%5D%5BlayoutExtension%5D%5Bid%5D=com.ibm.bi.dashboard.layoutExtension&amp;options%5Bcollections%5D%5BvisualizationExtension%5D%5Bid%5D=com.ibm.bi.dashboard.visualizationExtensionCA&amp;options%5Bcollections%5D%5BcolorSetExtensions%5D%5Bid%5D=com.ibm.bi.dashboard.colorSetExtensions&amp;options%5Bconfig%5D%5BsmartTitle%5D=false&amp;options%5Bconfig%5D%5BeditPropertiesLabel%5D=true&amp;options%5Bconfig%5D%5BnavigationGroupAction%5D=true&amp;options%5Bconfig%5D%5BenableDataQuality%5D=false&amp;options%5Bconfig%5D%5BmemberCalculation%5D=false&amp;options%5Bconfig%5D%5BassetTags%5D%5B%5D=dashboard&amp;options%5Bconfig%5D%5BfilterDock%5D=true&amp;options%5Bconfig%5D%5BshowMembers%5D=true&amp;options%5Bconfig%5D%5BassetType%5D=exploration&amp;options%5Bconfig%5D%5BgeoService%5D=CA&amp;subView=model00000185985349dc_00000000&amp;isAuthoringMode=false&amp;boardId=i7402E6149B934CAAA867A1B58E0B4ECE">US Office of Personnel Management</a> showed eight cabinet-level agencies, which are at the center of the executive branch and have heads that report directly to the president, had over 100,000 civilian employees as of March.Almost half a million people were employed in the Department of Veterans Affairs, while the Department of Education had just over 4,000. The Treasury Department had over 100,000 employees as of March. The overwhelming majority of those — about 94,000 — were employed in the Internal Revenue Service.Most departments had six-figure average salaries, with the Department of Education and the Department of Energy having the highest averages.During Ramaswamy's Sunday <a target="_blank" class="" href="https://www.businessinsider.com/vivek-ramaswamy-doge-wants-to-delete-entire-federal-agencies-2024-11">appearance</a> on Fox News, he said, "We expect mass reductions in force in areas of the federal government that are bloated."While neither Trump, Musk, nor Ramaswamy has made clear which departments could be on the chopping block, Trump has targeted the Department of Education in the past, <a target="_blank" class="" href="https://www.youtube.com/watch?v=tscgWCBbeao">saying in 2023</a>: "One other thing I'll be doing very early in the administration is closing up the Department of Education in Washington DC, and sending all education and education work and needs back to the states."Musk <a target="_blank" href="https://www.youtube.com/watch?v=GsYKhVtvm3k">said</a> during October remarks that while the commission's goal is to cut spending by reducing head count, he would consider giving impacted workers "very long severances" that could amount to two years' pay."The point is not to be cruel or to have people not be able to pay their mortgage or anything," Musk said during his October remarks. "We just have too many people in the government sector, and they could be more productive elsewhere."The US Office of Personnel Management <a target="_blank" href="https://www.opm.gov/policy-data-oversight/pay-leave/pay-administration/fact-sheets/severance-pay/">wrote on its website</a> that "severance pay is authorized for full-time and part-time employees who are involuntarily separated from Federal service and who meet other conditions of eligibility." A spokesperson for the office told BI that the severance policy is up to date, and it "cannot comment on the actions of future administrations."DOGE is not an official government agency. Past commissions on government spending, like the Grace Commission under former President Ronald Reagan, gave the president and Congress advice on areas to cut. The two leaders of the initiative have started to detail the areas of government spending they're looking to target.While DOGE can advise Trump on agencies to cut, the president-elect cannot act on it alone — making major changes to federal agencies would require congressional approval.Plus, DOGE's goals could still change. It's unclear how exactly the commission will function and whether Congress will approve Musk and Ramaswamy's spending cuts. BI <a target="_blank" href="https://www.businessinsider.com/elon-musk-vivek-ramaswamy-doge-government-efficiency-what-us-spends-2024-11">previously reported</a> that the US spent $6.75 trillion in fiscal year 2024. With Social Security, health programs, and Medicare topping the spending list, they could be on the commission's chopping block. However, Medicare and Social Security are forms of mandatory spending that would require legislation to change.Are you employed by the federal government and have a story to share? Reach out to these reporters at <a target="_blank" class="" href="mailto:asheffey@businessinsider.com">asheffey@businessinsider.com</a> and <a target="_blank" class="" href="mailto:mhoff@businessinsider.com">mhoff@businessinsider.com</a>.

Musk's DOGE wants to 'delete' entire government agencies. Here's where the most people are employed and what they make.

<ul class="summary-list"><li>President Joe Biden called for port companies to offer fair deals to striking dockworkers.</li><li>Transportation Secretary Pete Buttigieg warned companies against exploiting the strike for profit.</li></ul>President Joe Biden and other government officials are urging port companies to offer stronger contracts to the <a target="_blank" href="https://www.businessinsider.com/hurricane-damage-port-strike-could-hurt-us-economy-2024-9">45,000 dockworkers</a> on strike at East and Gulf Coast ports.They're intervening because of the strike's huge economic stakes, which shut down 36 ports. It's slated to put a <a target="_blank" href="https://www.businessinsider.com/port-strike-could-wreck-us-economy-with-price-increases-scarcity-2024-10">$5 billion</a> dent in the economy per day, said analysts from JPMorgan.The message from the Biden administration is clear: Companies need to offer a fair deal to the striking workers as soon as possible.In a Tuesday post on <a target="_blank" href="https://x.com/POTUS/status/1841261609106260053">X</a>, Biden pushed for ocean carrier companies to offer "a strong and fair contract" that reflects workers' contribution to the economy since the pandemic and to these companies' record profits.Biden added that his team is actively monitoring for price gouging by foreign ocean carriers."No company should exploit this for profit," said Biden.Transportation Secretary Pete Buttigieg also warned companies against profiteering from the strikes and called on them to remove any surcharges that may unfairly burden consumers or businesses, in a Tuesday <a target="_blank" href="https://www.transportation.gov/briefing-room/transportation-secretary-pete-buttigieg-calls-ocean-carriers-withdraw-surcharges">statement</a>."No one should exploit a disruption for profit, especially at a time when whole regions of the country are recovering from Hurricane Helene," Buttigieg said.He also said the Federal Maritime Commission has been tasked with ensuring that all fees imposed during this period are "legitimate and lawful."Buttigieg said in an Instagram <a target="_blank" href="https://www.instagram.com/secretarypete/reel/DAlYNHSOQRn/">post</a> on Tuesday that he had been in contact with supply chain partners for months, and he urged all parties to "come to terms in good faith, fairly, and quickly."Acting Labor Secretary Julie Su had also been in talks with dockworkers and port operators, encouraging the groups to return to the bargaining table and "reach a fair contract," she said in a Tuesday <a target="_blank" href="https://www.dol.gov/newsroom/releases/osec/osec20241001">statement</a>.Su said that the port workers' sacrifices and importance during the pandemic and helping communities recover from Hurricane Helene were not fairly reflected in their salaries."As companies make record profits, their workers should share in that economic success," Su said in a Wednesday post on <a target="_blank" href="https://x.com/ActSecJulieSu/status/1841221828343210208">X</a>.Negotiations showed little movement until just before the strike began. The US Maritime Alliance, representing the ports, offered employees a 50% <a target="_blank" href="https://www.businessinsider.com/dockworkers-strike-biden-test-unions-harris-trump-election-2024-10">wage increase</a> over six years.Although the International Longshoremen's Association, representing thousands of dockworkers, briefly indicated a willingness to accept 61.5%, it has since reaffirmed its demand for a 77% raise over six years, the Associated Press <a target="_blank" href="https://apnews.com/article/dockworkers-strike-ports-ila-longshoremen-91703e4798dbc9ee82185e983f31a3f6">reported</a> on Wednesday.Despite calls from retailers and manufacturers to use federal powers to intervene and stop the strike, Biden has so far resisted invoking the <a target="_blank" href="https://www.businessinsider.com/dockworkers-port-strike-ila-impacts-2024-10">Taft-Hartley Act</a>, which would allow the government to force an end to the strike.In a Tuesday statement, Biden said he remains committed to collective bargaining and called on the USMX to negotiate a stronger contract for dockworkers.The White House, Department of Labor, and Department of Transportation did not respond to requests for comment sent by Business Insider outside business hours.

Biden and other government officials are telling port companies to get a better offer to striking workers ASAP

In a bonanza for 48 lakh <keyword id="772729" type="General" weightage="20" keywordseo="Central-government-employees" source="Orion">Central government employees</keyword> and 70 lakh pensioners, the government on Friday hiked <keyword id="6429991" type="General" weightage="20" keywordseo="dearness-allowance" source="Orion">dearness allowance</keyword> (DA) and dearness relief (DR) by 4 per cent with retrospective effect from January 1, 2023. The decision was taken in the <keyword id="1246760" type="General" weightage="20" keywordseo="Union-Cabinet-meeting" source="Orion">Union Cabinet meeting</keyword> on Friday evening. According to official sources, the additional instalment will represent an increase of 4 per cent over the existing rate of 38 per cent of the basic pay or pension, to compensate against price rise. The cabinet gave its approval to release an additional instalment of DA to Central government employees and DRA to pensioners with effect from January 1, 2023, they added. The combined impact on the exchequer on account of both DA and DR would be Rs 12,815.60 crore per annum, the sources added. This increase is in accordance with the accepted formula, which is based on the recommendations of the <keyword id="1581536" type="General" weightage="20" keywordseo="7th-Central-Pay-Commission" source="Orion">7th Central Pay Commission</keyword>. DA is calculated as per the latest consumer price index for industrial workers. It is revised periodically twice a year and was last revised in September 2022, and was effective retrospectively from July 1, 2022. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/desk-bombing-monk-mode-other-emerging-trends-at-the-workplace-as-per-linkedin/slidelist/98973217.cms">Desk-bombing, monk mode &amp; other emerging trends at the workplace</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/haircut-on-cases-resolved-through-ibc-not-very-encouraging-says-kotak-report/articleshow/98972743.cms">Haircut on cases resolved through IBC not very encouraging, says Kotak report</a>

Cabinet clears dearness allowance hike by 4%

During the coronavirus pandemic, offices around the world had to alter their way of working and make work from home the norm to keep people safe. For two years, almost all companies in the world offered <keyword id="20665553" type="General" weightage="20" keywordseo="remote-work" source="keywords">remote work</keyword> and there were reports that this would become the future of working. Employees enjoyed the new flexibility and realised how remote work can help them balance work and life with ease. However, contrary to what was perceived, companies began calling employees <keyword id="9081434" type="General" weightage="100" keywordseo="back-to-office" source="Orion">back to office</keyword> as soon as it was safe. <h2><keyword id="20122085" type="General" weightage="20" keywordseo="CEOs" source="keywords">CEOs</keyword> want employees back in offices </h2> In the last few months, there have been ample studies that show how employees are more productive while working from home or in a hybrid setup where they are required to come to office for 2-3 days in a week. Yet, companies are adamant on calling their employees back to offices. For instance, Amazon recently ordered its employees to return to office for five days a week, putting an end to remote work forever. Now, a new study by <keyword id="19896405" type="General" weightage="20" keywordseo="KPMG" source="keywords" meta.keywordsubtype="org" meta.entityname="KPMG" meta.hostid="261" meta.entityid="KPMG">KPMG</keyword> has revealed that majority of Indian CEOs are ready to incentivise employees who work from the office, marking a shift towards a more traditional work model post-pandemic. According to the KPMG 2024 India CEO Outlook, 91 percent of Indian CEOs are considering linking rewards, such as promotions and pay raises, to <keyword id="21386806" type="General" weightage="20" keywordseo="office-attendance" source="keywords">office attendance</keyword>. This figure is slightly higher than the global average of 87 percent, indicating a stronger push in India to encourage in-person work. The report, based on responses from 125 Indian CEOs, highlights a growing belief that office-based work fosters better collaboration, innovation, and productivity. As many as 78% of Indian CEOs expect their entire workforce to return to the office within the next three years, a trend mirrored globally, though at a slightly higher rate of 83%. <keyword id="20142903" type="General" weightage="20" keywordseo="Indian-companies" source="keywords">Indian companies</keyword> are increasingly focused on improving their employee value proposition—the set of benefits and incentives offered to employees. CEOs are prioritising a supportive and engaging office environment as key to attracting and retaining top talent. By linking rewards to in-office work, companies aim to align employee satisfaction with long-term growth objectives. <h2>Understanding what employees want </h2> Sunit Sinha, Partner and Head of Human Capital Advisory Solutions at KPMG in India, pointed out that in the post-COVID-19 era, it is crucial for businesses to understand the evolving preferences of employees. As workers reconsider their options, businesses need to adapt to remain competitive in the talent market. Sinha said that companies must use data to address employee needs, saying, “The power to shape the future of talent lies in staying informed and adapting proactively.” In addition to in-office incentives, the KPMG report also talked about the increasing role of technology, particularly generative AI, in workforce development. Half of the CEOs surveyed are prioritising the enhancement of workforce skills alongside their investment in AI. Indian CEOs believe generative AI can help develop diverse skills and prepare their teams for a future where technology plays a central role in operations. However, while CEOs are optimistic about the potential of AI, they also expressed concern over the lack of regulations governing the technology. Seventy-seven percent of Indian CEOs are apprehensive about the pace of AI regulation, higher than the global average of 69%. Despite these concerns, Indian business leaders remain confident in AI’s ability to enhance organisational performance and secure a competitive edge.

You Searched For "salaries of central government employees" and got 11 results

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