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<p>Good morning and welcome to Insider <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">Finance</keyword>. I'm Dan DeFrancesco, and here's what's on the agenda today:</p><ul><li>Looking to start a hedge fund? Check out this list of people you should know <a href="https://www.businessinsider.com/here-are-29-people-to-know-when-launching-hedge-fund-2021-3">as you try to get your fund off the ground.</a></li><li>Goldman Sachs analysts warned their bosses about issues that come with WFH in a<a href="https://www.businessinsider.com/goldman-sachs-analysts-wfh-expenses-equipment-junior-banker-wall-street-2021-3"> presentation</a> they made at the start of the pandemic.</li><li>Former Goldman partner Sumit Rajpal is <a href="https://www.businessinsider.com/goldman-sachs-ex-partner-sumit-rajpal-launching-fund-merchant-banking-2021-3">launching</a> his own firm. </li></ul><p><a style="font-weight: bold;" href="http://newsletter.businessinsider.com/join/4np/insider-finance">If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.</a></p><p>Like the <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword>? Hate the newsletter? Feel free to drop me a line at <a href="mailto:ddefrancesco@businessinsider.com">ddefrancesco@businessinsider.com</a> or on Twitter <a href="https://twitter.com/dandefrancesco">@DanDeFrancesco</a>. </p><h3><a href="https://www.businessinsider.com/here-are-29-people-to-know-when-launching-hedge-fund-2021-3">READY TO LAUNCH: These are the 29 bankers, advisors, and lawyers to know if you're thinking about starting your own hedge fund</a></h3><h2><a href="https://www.businessinsider.com/here-are-29-people-to-know-when-launching-hedge-fund-2021-3"><div type="image" title="people to know when launching hedge fund 2x1" height="1041" width="1388" msid="81650284" hostid="261"></div></a></h2><p>Launching a hedge fund has become more difficult as the price of technology, data, and talent rises. We spoke with more than a dozen industry experts, and compiled a list of people to know to get a hedge fund off the ground.</p><p><a href="https://www.businessinsider.com/here-are-29-people-to-know-when-launching-hedge-fund-2021-3">This is who you need to know.</a></p><h3><a href="https://www.businessinsider.com/goldman-sachs-analysts-wfh-expenses-equipment-junior-banker-wall-street-2021-3">Goldman's beleaguered banking analysts raised red flags about the brewing strains of remote work a year ago and asked bosses for meal and tech stipends</a></h3><h3><a href="https://www.businessinsider.com/goldman-sachs-analysts-wfh-expenses-equipment-junior-banker-wall-street-2021-3"> <div type="image" title="David Solomon" height="1333" width="1777" msid="81650285" hostid="261"></div></a></h3><p>Analysts at Goldman Sachs first raised issues to their bosses over the problems that can arise from working remote a year ago. <a href="https://www.businessinsider.com/goldman-sachs-analysts-wfh-expenses-equipment-junior-banker-wall-street-2021-3">Get the full rundown here</a>.</p><h3><a href="https://www.businessinsider.com/goldman-sachs-ex-partner-sumit-rajpal-launching-fund-merchant-banking-2021-3">The former co-head of one of Goldman Sachs' most elite investing groups is making his own bets on banks and fintechs. He's poaching ex-colleagues and angering his old bosses.</a></h3><p><a href="https://www.businessinsider.com/goldman-sachs-ex-partner-sumit-rajpal-launching-fund-merchant-banking-2021-3"><div type="image" title="goldman sachs" height="3836" width="5115" msid="81650289" hostid="261"></div></a></p><p>Former Goldman Sachs partner Sumit Rajpal is starting his own investment firm, and some of his former colleagues aren't happy. <a href="https://www.businessinsider.com/goldman-sachs-ex-partner-sumit-rajpal-launching-fund-merchant-banking-2021-3">Find out why.</a></p><h3><a href="https://www.businessinsider.com/leon-black-jeffrey-epstein-steps-down-ceo-apollo-chairman-2021-3">Wall Street billionaire Leon Black steps down as CEO and chairman of Apollo effective immediately, 2 months after an investigation into his Jeffrey Epstein links</a></h3><h2><a href="https://www.businessinsider.com/leon-black-jeffrey-epstein-steps-down-ceo-apollo-chairman-2021-3"><div type="image" title="epsteinblack" height="3000" width="4000" msid="81650294" hostid="261"></div></a></h2><p>Black's departure from the investment firm comes sooner than expected. In January, Apollo said Black would step down as CEO in July (but remain chairman) following an independent investigation into his relationship with the disgraced financier. <a href="https://www.businessinsider.com/leon-black-jeffrey-epstein-steps-down-ceo-apollo-chairman-2021-3">Everything we know about his departure.</a></p><h3><a href="https://www.businessinsider.com/revolut-bank-charter-launches-us-business-accounts-challenger-bank-fintech-2021-3">UK-based Revolut just officially filed for a bank charter and rolled out business accounts in the US as the war amongst challenger banks heats up</a></h3><h2><a href="https://www.businessinsider.com/revolut-bank-charter-launches-us-business-accounts-challenger-bank-fintech-2021-3"><div type="image" title="Nik Storonsky" height="2249" width="3000" msid="81650299" hostid="261"></div></a></h2><p>Revolut, Europe's largest challenger bank, is looking to make inroads in the US. It just announced the official launch of business-banking accounts. <a href="https://www.businessinsider.com/revolut-bank-charter-launches-us-business-accounts-challenger-bank-fintech-2021-3">Here's what you need to know.</a></p><h3><a href="https://www.businessinsider.com/defi-decentralized-finance-disruptive-bitcoin-benefits-challenges-bofa-crypto-finance-2021-3">Bank of America sees DeFi as potentially more disruptive than bitcoin. The bank breaks down why DeFi is a fundamental challenge to modern finance - and the 5 issues that stand in its path to domination</a></h3><h2><a href="https://www.businessinsider.com/defi-decentralized-finance-disruptive-bitcoin-benefits-challenges-bofa-crypto-finance-2021-3"><div type="image" title="vitalik Buterin ethereum" height="920" width="1230" msid="81650301" hostid="261"></div></a></h2><p>BofA analysts are questioning whether DeFi could potentially be more disruptive than bitcoin. They believe DeFi could be a radical challenge to modern finance, but it still has a long way to go. <a href="https://www.businessinsider.com/defi-decentralized-finance-disruptive-bitcoin-benefits-challenges-bofa-crypto-finance-2021-3">These are the five reasons why.</a></p><h3><a href="https://www.businessinsider.com/timeline-of-blackrock-employee-allegations-as-firm-retains-paul-weiss-2021-3">BlackRock has hired a law firm to review misconduct claims. Here's a timeline of recent allegations and the firm's responses.</a></h3><p><a href="https://www.businessinsider.com/timeline-of-blackrock-employee-allegations-as-firm-retains-paul-weiss-2021-3"><div type="image" title="larry fink" height="1402" width="1869" msid="81650303" hostid="261"></div></a></p><p>We've compiled all the recent allegations made against BlackRock, and how the firm has responded. <a href="https://www.businessinsider.com/timeline-of-blackrock-employee-allegations-as-firm-retains-paul-weiss-2021-3">Get the full timeline here.</a></p><p><a href="https://www.businessinsider.com/timeline-of-blackrock-employee-allegations-as-firm-retains-paul-weiss-2021-3"></a> </p><h3><a href="https://www.businessinsider.com/webinar-whats-next-payments-tech-2021-crypto-bnpl-ecommerce-2021-3">WATCH: Payments experts from Bain Capital Ventures, JPMorgan, Mastercard, and PayPal discuss what's next for the industry and the emerging trends here to stay</a></h3><h2><a href="https://www.businessinsider.com/webinar-whats-next-payments-tech-2021-crypto-bnpl-ecommerce-2021-3"><div type="image" title="contactless payments finance 2 4x3" height="1800" width="2400" msid="81650305" hostid="261"></div></a></h2><p>From buy now, pay later and e-commerce to real-time payments and crypto, here are the trends experts are excited about. <a href="https://www.businessinsider.com/webinar-whats-next-payments-tech-2021-crypto-bnpl-ecommerce-2021-3">Watch the full webinar here</a>.</p><h3><a href="https://www.businessinsider.com/tananbaum-goldentree-new-general-counsel-roman-bejger-barry-ritholtz-retiring-2021-3">GoldenTree Asset Management's longtime top lawyer is retiring, and the firm has a new general counsel picked out</a></h3><h2><a href="https://www.businessinsider.com/tananbaum-goldentree-new-general-counsel-roman-bejger-barry-ritholtz-retiring-2021-3"><div type="image" title="Steven Tananbaum" height="4127" width="5503" msid="81650310" hostid="261"></div></a></h2><p>Barry Ritholtz is retiring from GoldenTree Asset Management as its general counsel. Roman Bejger, formerly of Allvue Systems, is going to replace him. <a href="https://www.businessinsider.com/jpmorgan-global-expansion-hiring-push-commercial-bank-investment-banking-2021-1">Here's everything we know</a>.</p><h2><strong style="color: #222222; font-size: 15px;">Odd lots:</strong></h2><p><a href="https://www.businessinsider.com/goldman-sachs-ceo-responds-junior-analysts-work-conditions-2021-3">Goldman Sachs CEO promises to protect junior bankers' Saturdays off following survey detailing 'inhumane' conditions (Insider)</a></p><p><a href="https://www.businessinsider.com/adtech-ipo-candidates-2021-2020-12">IronSource plans to go public via a SPAC. Here are 5 other adtech companies experts think are likely to IPO next. (Insider)</a></p><p><a href="https://www.institutionalinvestor.com/article/b1r249yny49whg/At-BlackRock-New-Accusations-of-Discrimination-and-Harassment-Are-Met-With-Contrition?utm_source=twitter&amp;utm_content=Article&amp;utm_campaign=editorial_click-throughs&amp;utm_medium=social%20media%20organicia%20organic">At BlackRock, New Accusations of Discrimination and Harassment Are Met With Contrition (Institutional Investor)</a></p><p><a href="https://www.axios.com/biden-aides-wall-street-obama-b9d15fb5-1957-4fce-8a7c-458598a6f235.html">Top Biden aides cashed in on Wall Street after Obama service (Axios)</a></p><p><a href="https://www.businessinsider.com/chamath-palihapitiya-spacs-hedge-funds-short-bets-data-details-explained-2021-3">Hedge funds are ramping up bets against Chamath Palihapitiya's SPACs and have already taken home $40 million this year. Here's a detailed look at the wagers they're making. (Insider)</a></p><p><a href="https://www.businessinsider.com/jeffrey-epstein-apollo-ceo-leon-black-investigation-tax-advice-2021-1">Leon Black is out as Apollo CEO and chair 2 months after an investigation into his relationship with Jeffrey Epstein. Here's what the Wall Street billionaire paid the disgraced financier $159 million for. (Insider)</a></p>

Goldman junior bankers raised red flags over WFH issues

The Covid-induced work from home (<keyword id="1384155" type="COMPANY" weightage="20" keywordseo="WFH">WFH</keyword>) norms at workplaces has presented special challenges even for the government to mould tax regulations that take note of the new norm.<br /><br />One such issue is coming in the IT and ITeS sectors, who have become the flagbearers of country's resilience to the pandemic, growing both their operations and revenues even during the current difficult period.<br /><br />The pandemic-induced WFH has created doubts over continuation of income tax holiday extended to IT and <keyword id="10650622" type="UNKNOWN" weightage="20" keywordseo="ites-units-operation">ITeS units operation</keyword> from <keyword id="69055" type="COMPANY" weightage="20" keywordseo="Special-Economic-Zones">Special Economic Zones</keyword> (<keyword id="45393" type="COMPANY" weightage="20" keywordseo="SEZ">SEZ</keyword>) as the current functioning of staff is akin to employees delivering services virtually from their home location and not from the SEZs.<br /><br />"There is a need to clarify, whether services delivered by employees of SEZ-based IT-ITeS units, virtually from their home location, shall be eligible for income-tax holiday. This would not only ensure that future litigation is minimised but also provide some elbow room to the sector to drive higher operational efficiencies," said Naveen Aggarwal, Partner, Tax, KPMG in India.<br /><br />While the tax officials said that this issue should not be a concern as the department is constantly working to see that pandemic-induced disruptions do not impact functioning of businesses, sources said that a clarification over treatment of services rendered from work from home in case of IT and ITeS companies may come in Budget 2021-22.<br /><br />This would provide big relief to companies operating in the sector where WFH had almost acquired levels of permanency. Some organisations have announced long term plans on WFH while a few have already made this arrangement permanent.<br /><br /><strong>SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/new-realme-stores-in-india-and-ceo-says-there-is-plan-for-new-devices/articleshow/80443801.cms" data-type="tilCustomLink">Realme plans to open 500 new stores in 2021⁠— the CEO reveals the company will go beyond smartphones in the 5G era</a></strong><b><br /> <br /> </b><a href="https://www.businessinsider.in/budget/news/indias-co-working-sector-wants-recognition-under-real-estate-tax-benefits-as-flexible-workspaces-aim-for-a-significant-revival-in-the-post-covid-era/articleshow/80431768.cms" data-type="tilCustomLink"><strong>India’s co-working sector wants recognition under real estate, tax benefits as flexible workspaces aim for a significant revival in the post-COVID era</strong></a><br />

WFH induced tax challenges a burden for India's IT cos, analysts seek clarification in Budget 2021

New Delhi, Mar 12 () In a precautionary move to check spread of deadly coronavirus, state-owned Software Technology Parks of India on Thursday issued advisory that enables around 18-20 lakh employees of IT units registered with it to work from home.<p> IT industry body NASSCOM had urged the government to relax restrictions regarding allowing employees to work from home, amid the coronavirus outbreak.</p><p> Currently, there are restrictions on WFH (work from home) under the OSP (other service providers) regime.</p><p> "There are rules that allow employees to work from home in certain situation. We have issued those enabling clauses and will motivate all units registered with us to implement it. There are around 3,000 exporters registered with us and around 18-20 lakh employees work with them," STPI Director General Omkar Rai told .</p><p> The urgent advisory issued by STPI, which overseas facilities and rules for software exporters, said in the wake of the coronavirus outbreak, units may require employees to work from home using the laptop or desktop provided by the unit to them.</p><p> "In this connection, para-6.07 of HBOP (handbook of procedures) of FTP, inter-alia, permits employees of STP/EHTP units to take duty fee laptops/computers, etc, out of premises of unit for working upon by authorised employees," the advisory said.</p><p> STPI mentioned another rule which permits authorised employees of STP (Software Technology Parks)-ETHP units to work from a place outside the unit.</p><p> "Keeping in view of the outbreak of coronavirus, it is advised to make the industry/industry associations aware of this rule position enabling to make aforesaid precautionary measures in this regard for continuity of business operations in a seamless manner," the advisory said.</p><p> The coronavirus outbreak, declared a pandemic by the World Health Organization (WHO) on Wednesday, has led to more than 4,000 deaths so far globally.</p><p> The government on Wednesday suspended all visas, barring a few categories like diplomatic and employment, in an attempt to prevent the spread of coronavirus as cases across India rose to more than 70.</p><p> Companies across sectors are asking their staff to work from home and adopting technologies like telepresence and video-conferencing to ensure business continuity.</p><p> However, companies continue to struggle in operationalising WFH for their employees, owing to the onerous compliance and technical requirements under the prevailing OSP regime.</p><p> These requirements include establishing PPVPN connectivity, sharing pre-defined locations of extended agents (employees), and providing high monetary security deposits, among others.</p><p> PPVPN (Provider Provisioned Virtual Private Network) is generally used by companies to ensure secure communications for employees working from remote locations.</p><p> Nasscom, which represents IT and BPO companies as well as start-ups, has written to Communications and IT Minister Ravi Shankar Prasad on the issue.</p> In its letter, Nasscom urged that requirements pertaining to WFH under the OSP regime be relaxed for a period of one month as an interim emergency measure.   PRS HRS

Coronavirus: 18-20 lakh employees of IT companies to work from home

<ul class="summary-list"><li>The post-pandemic shift to working from home has given some fathers more time with their kids.</li><li>But WFH can have downsides for dads, whether partner conflicts or work disruptions.</li></ul><p>The work-from-home <a target="_blank" class="" href="https://www.businessinsider.com/work-from-home-remote-work-changed-economy-pandemic-2023-4">revolution</a> has transformed family life, encouraging and allowing many fathers to <a target="_blank" class="" href="https://www.businessinsider.com/stay-at-home-dad-less-manly-freeloader-wife-2024-8">spend more time</a> with their children. But the seismic shift has come with downsides.</p><p>Not commuting to work has <a target="_blank" class="" href="https://www.businessinsider.com/husband-returning-to-office-more-work-me-spend-money-childcare-2023-11">freed more dads</a> to have meals with their kids, pick them up and drop them off at day care or school, and enjoy some pre-dinner playtime.</p><p>Working fathers who were once oblivious to what their partners did all day, from running the house to raising the kids, had their eyes opened during pandemic lockdowns.</p><p>Some are now more understanding and able to help, with those in heterosexual couples <a target="_blank" class="" href="https://www.businessinsider.com/work-from-home-women-careers-jobs-pandemic-flexibility-gender-equality-2023-7">no longer defaulting</a> to moms taking care of everything.</p><p>"Having fathers work remotely is generally good for families," Daniel Carlson, the interim chair of the University of Utah's department of family and consumer studies, told Business Insider.</p><p>"Most dads want to be engaged with their home and children and so it offers them the <a target="_blank" class="" href="https://www.businessinsider.com/pandemic-made-parenting-easier-for-me-husband-around-to-help-2022-3">opportunity to do so</a>. For those not inclined to be engaged at home, it can expose them to all the demands of home they may otherwise miss. It sensitizes them to how much their partners have to do and leads them to want to share the load."</p><p>Carlson noted that many families have two working partners, but the female partners "often shoulder a second shift of domestic labor and childcare. So, if dads can work from home, even if it's just occasionally, then this can lead to a <a target="_blank" class="" href="https://www.businessinsider.com/goldman-sachs-employee-job-stay-at-home-dad-2024-8">more equitable division</a> of labor in families."</p><h2 id="df1b0888-a492-4f19-8260-b2647b7a7c94">Pluses and minuses</h2><p>Yet Carlson noted that a WFH father isn't a magical cure for families.</p><p>"Remote work is not a panacea. While it has benefits, it can also have costs," he said.</p><p>"Remote work can solve work-family conflicts as well as create them," he continued. "The question is how remote work fits into your life. It's not so much whether people work remotely, it's whether they have the option to do so, and the support to make it work for them."</p><p>Having two people share a typically small space can lead to feelings of claustrophobia and <a target="_blank" class="" href="https://www.businessinsider.com/how-work-from-home-affected-pandemic-relationships-2021-6">spark arguments</a> over who does more chores or more childcare.</p><p>Work can also <a target="_blank" class="" href="https://www.businessinsider.com/australia-law-right-to-disconnect-ignore-calls-after-hours-work-2024-8">creep into the home</a> (think logging on after dinner or checking emails in bed), which can fuel stress and resentment, and make it harder for people to switch off.</p><p>On the other hand, some people may feel pressure to complete household tasks during the working day. They might also feel obliged to run errands, such as mailing a package or picking up food for dinner.</p><p>"The parent who's working from home becomes the housewife," Jennifer Glass, a sociology professor at the University of Texas, Austin, told Vox last year. She said that was especially true for mothers but applied to fathers too.</p><p>There's also a risk of <a target="_blank" class="" href="https://www.businessinsider.com/working-remotely-feel-isolated-from-coworkers-quit-2024-7">isolation and loneliness</a> among the WFH crowd if they miss out on water-cooler conversations, after-work drinks, and office sports. They can <a target="_blank" class="" href="https://www.businessinsider.com/work-friends-spouses-loneliness-remote-hybrid-benefits-of-work-connections-2024-6">become detached</a> from their teams as longtime colleagues leave and <a target="_blank" class="" href="https://www.businessinsider.com/work-friends-are-over-remote-jobs-gen-z-relationships-pandemic-2024-6">new faces join</a>, particularly if they only ever communicate virtually.</p><h2 id="44c4daa1-1bbf-4407-9401-3ea9d19fe558">Childcare concerns</h2><p>The lack of a commute and reduced presence in society could also mean people <a target="_blank" class="" href="https://www.businessinsider.com/work-from-home-sitting-standing-routine-better-health-2024-2">get less exercise each day</a> and develop unhealthy habits. They might also fear they're less likely to be promoted, or at <a target="_blank" class="" href="https://www.businessinsider.com/working-from-home-remote-work-increased-layoff-risk-job-market-2024-2">greater risk of being laid off</a>, if they're never in the office.</p><p>There's also a heightened chance of <a target="_blank" class="" href="https://www.businessinsider.com/woman-works-from-home-and-still-needs-childcare-explains-why-2023-1">distraction or disruption</a> when parents are in the same room as children or just a door knock away. They might be asked to watch the baby, pick up a sick toddler from day care and look after them for the rest of the day, or take their child to a doctor's appointment.</p><p>"Both mums and dads can get pulled into childcare when they WFH, so for both genders this is definitely an issue," Nicholas Bloom, a Stanford economics professor, told BI.</p><p>He noted that studies show that moms are far more likely to be called upon in childcare emergencies than dads. He also suggested disruption might be necessary if there's no alternative.</p><p>It's easy to see how having children can magnify the downsides of WFH. Sleep deprivation from staying up all night with a newborn can stoke arguments between partners. More people in the house mean more dishes and tidying up to do.</p><p>The demands of childcare can also make it harder to finish work tasks during the working day, or to find time to meet friends, fueling stress and loneliness.</p><h2 id="e163a636-7fe6-4e15-a4b7-dbd3b3cad77a">Finding the right balance</h2><p>There's significant variance in how much WFH is best for a particular employee's health, Bloom told BI.</p><p>Bloom, who's part of the WFH Research team behind the US Survey of Working Arrangements and Attitudes (SWAA), said about a quarter of respondents "<a target="_blank" class="" href="https://www.businessinsider.com/dream-job-in-office-work-full-time-flexibility-benefits-2024-3">love fully remote</a> as they might live near a park or a gym, or just having the time and peace to WFH is great for exercise."</p><p>Close to half of people like a <a target="_blank" class="" href="https://www.businessinsider.com/gen-xers-boomers-return-to-office-remote-work-hybrid-wfh-2024-6">hybrid model</a> or mix of in-person and home working. The final quarter prefers going to work every day, perhaps because of the social benefits and ease of joining team activities, Bloom said.</p><p>"I do find WFH saves on the commute, about one hour per day for the typical person, and that's a lot of time," he said. Bloom noted that he clocks a 50-minute run during the time saved from commuting most days.</p><p>"So my sense is the best WFH for employees' health is <a target="_blank" class="" href="https://www.businessinsider.com/hybrid-work-from-home-office-culture-remote-jobs-productivity-happiness-2024-6">the one they choose</a>."</p><p>If he's correct, dads experiencing some of the challenges of staying home might consider going to work more. But that's not always feasible if they're needed at home to care for a child or other relative.</p>

Dads are work-from-home winners — but ditching the office has downsides

New Delhi, Mar 12 () Flipkart is offering its employees with small children to work from home and encouraging use of digital and video tools to ensure business continuity amid the global coronavirus outbreak.<p> Its group company PhonePe has also asked most employees to work from home (WFH) until further notice.</p><p> The number of coronavirus cases continues to climb globally, with 74 cases being reported in India so far. Coronavirus, declared as a pandemic by World Health Organization, has claimed over 4,600 lives worldwide.</p><p> "We are promoting the use of video conferences for meetings, including job interviews, and are temporarily avoiding events and training programmes that require large gatherings as a precautionary measure," Flipkart said in an emailed statement.</p><p> It also said that apart from giving a work from home option to young parents (with children studying till grade 5), we are checking system preparedness for working remotely using digital and video tools.</p><p> The company has also issued a ban on all non-essential domestic and international business travel, and is encouraging employees who may have returned from international travel to work from home for 14 days.</p><p> Flipkart said its facilities are being sanitised and deep cleaned at regular intervals as per standard norms for such situations.</p><p> "Specifically, for our supply chain and logistics network, we have organised awareness sessions across all our facilities on how our employees and partners can minimise their exposure by following simple precautionary measures," Flipkart said.</p><p> It added that its delivery partners are being provided with sanitisers and other required equipment to use while they are on the go, and are keeping track of impacted areas to minimise their exposure.</p><p> Those who are unwell are being advised to the rest with all assurance of medical support.</p><p> PhonePe said it has also initiated a WFH policy. "Most teams have been asked to WFH until further notice already. Employees in a few critical functions, have been asked to come to the office on a rotational basis," it added.</p><p> As the contagious disease with flu-like symptoms spread across the globe, domestic and foreign companies operating in India have issued advisories to take precautions, and even asked employees to WFH.</p><p> For e-commerce companies with large fleet of people delivering products, containing the situation poses a bigger challenge.</p><p> Online grocery delivery platform Grofers said its delivery personnel are being monitored and trained on handling of sealed crates.</p><p> "At current levels, all essential supply chains are functioning normally, both for Grofers and for our suppliers. Apart from some items which have hard caps on production and particularly those that are sourced from China, most items should continue to be available, although the mode of delivery and supply chains will have to adjust," it said.</p><p> Bhavin Turakhia, founder and CEO at Flock and co-founder and CEO at ZETA, said the two companies have announced a slew of measures to ensure the well-being of its employees.</p><p> "Business continuity plan (BCP) across business units and functions including the support functions with a 3-5 work from home mock drill. Our BCP is not limited to only work from home, it takes into account succession planning for critical roles that will come into effect in case of an employee or their loved one falls sick," he said.</p> The company is also undertaking virtual interviewing and hiring, conducting educational and awareness sessions on health and fitness through online mediums to ensure their health is not compromised even as they work from home.   SR HRS

Coronavirus: Flipkart offers work from home for employees with small children

Mumbai, Apr 26 () When the COVID-19 pandemic came ashore and moves like lockdowns were being deliberated upon, the USD 180-billion IT sector faced a huge challenge for business continuity.<p> More than a month into it, industry executives feel it has been a blessing in disguise and will lead to a larger number of people to work from home in the post coronavirus world.</p><p> They attribute the emerging scenario to cost and productivity gains out of WFH (Work From Home) and it is not just the IT sector which is reaping the benefits. Companies across the services sectors, including banks, are set to have fewer people work from the offices in the future.</p><p> India was put under a three-week lockdown from March 25, which was extended by 19 more days till May 3, to arrest the spread of coronavirus infections. As the promised date nears, there is an increasing possibility that the lockdown will be extended in many pockets, which have turned into hotspots.</p><p> At present, many employees travel long distances to workplaces in cities plagued with traffic issues and high air pollution.</p><p> Largest software exporter TCS's Chief Executive and Managing Director Rajesh Gopinathan explained that over the decades, IT companies' model was based on employees trooping-in to cubicles often in specially erected or hired campuses for work, but the lockdown resulted in a quick shift to the WFH model.</p><p> Keshav Murugesh, Chief Executive of business process management player WNS and former Chairman of IT industry lobby grouping Nasscom, said the association responded to the challenge by helping its members transport over 25 lakh desktops from offices to associates' residences within a fortnight, which ensured work can continue.</p><p> Once they started working from home, companies are seeing gains on costs as well as efficiencies, and now, business leaders are certain that fewer people will be manning the cubicles spread across campuses.</p><p> "WFH is working extremely well. With the kind of efficiencies that we have started delivering on WFH, there will be a significant impact in the longer term," Murugesh told , stating that in the future, a higher percentage of people will be working from home than pre-COVID days.</p><p> Such a shift will be a blessing for women who are not able to continue with their careers because of family commitments, as they can continue devoting some time for work, Murugesh said, pegging the total number of such possible beneficiaries in millions.</p><p> In a recent interaction, TCS's Chief Operating Officer N Ganapathy Subramaniam said the company is expecting to have only 25 per cent of its staff work from offices by 2025, though it was not clear when the company decided on the target.</p><p> "We are seeing that our team is able to handle the transaction volumes. At the same time, we are seeing that the productivity, the velocity, the throughput of work has significantly increased. I do not believe that the gains will be lost. There will be a lot more to gain in this new model," he said.</p><p> "… we don't believe that we need to have more than 25 per cent of our workforce at our facilities in order to make all the 100 per cent productive. That is one great realisation. We don't believe that every employee needs to be present all the time in our offices," Subramaniam added.</p><p> The company has ensured that 90 per cent of its 3.55 lakh people working in India have been able to work from home in a secure manner.</p><p> Veteran banker Aditya Puri, who has led HDFC Bank since its inception to be the largest by assets among the private sector ones, also seemed to agree with the IT industry.</p><p> "Everybody who could work from home is already working from home. In fact, we are now examining whether even after coronavirus why these people should not work from home because it gives ample cost saving to us and (WFH) is a good benefit to the employee," Puri said on a conference call late last month.</p><p> However, the industry's wishes cannot easily get transformed into practice, Murugesh said, pointing to the BPM (Business Process Management) industry's peculiar demands if a large portion of staff were to work from home.</p><p> At present, he said the Department of Telecom and the Commerce Ministry have granted a limited period approval for carrying out WFH, and the same relaxations will have to be continued as well.</p> Explaining the same, he said associates need specialised telephone lines to stay connected while most of the companies work out of campuses which are demarcated as Special Economic Zones, and enjoy taxation sops and other advantages because work happens from a specific area.  AA  RAMRAM

COVID-19 impact: More staff in services sector cos to work from home in future as well

<ul class="summary-list"><li>Uber has encouraged its US, Canada, Japan, Europe, and South Korea-based employees to work remotely through April 6 to limit the spread of COVID-19, the coronavirus disease, as first reported by <a href="https://twitter.com/MikeIsaac/status/1237881217904545793">The New York Times reporter Mike Isaac</a> and confirmed to Business Insider.</li><li>Uber had nearly <a href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0001543151/f272e038-1c89-456c-acf8-cea0cffe544d.pdf">27,000 employees globally</a> as of last December, with around 16,000 located outside the US, according to its latest annual earnings filing.</li><li>The guidance does not apply to drivers and delivery workers, who Uber considers independent contractors.</li><li>After facing criticism from lawmakers over its <a href="https://www.businessinsider.com/uber-sent-drivers-coronavirus-guidance-you-feel-sick-stay-home-2020-2">initial response</a>, Uber announced that it would <a href="https://www.businessinsider.com/uber-will-compensate-drivers-put-under-coronavirus-quarantine-report-2020-3">compensate drivers and delivery workers</a> who are diagnosed with coronavirus or placed in mandatory quarantine. </li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul><p>Uber has strongly recommended that employees based in the US, Canada, Japan, Europe, or South Korea work from home through April 6 to help limit the spread of COVID-19, the coronavirus disease.</p><p>The guidance, emailed to employees by Uber's global head of operations, Andrew Macdonald, was first reported Wednesday by <a href="https://twitter.com/MikeIsaac/status/1237881217904545793">The New York Times reporter Mike Isaac</a> and confirmed to Business Insider by an Uber spokesperson.</p><p>Uber had around <a href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0001543151/f272e038-1c89-456c-acf8-cea0cffe544d.pdf">26,900 employees worldwide</a> as of the end of 2019, including 16,200 outside the US, according to the company's latest 10-K SEC filing.</p><p>"It's not lost on us that many of our employees can't work from home due to the nature of their roles. Their work requires access to on-premises tools or in-person support for drivers and delivery people," Macdonald's email read, adding that Uber would communicate individually with those employees and others who "have used up their sick leave or aren't comfortable coming into the office."</p><p>Uber is also introducing temperature checks and additional cleaning measures at certain locations, according to the email.</p><p>The guidance doesn't apply to Uber drivers and delivery workers, who the company considers independent contractors. After Business Insider reported in late February that <a href="https://www.businessinsider.com/uber-drivers-coronavirus-avoiding-airport-pickups-2020-2">drivers had not heard from Uber</a> about COVID-19, the company issued guidance instructing drivers to <a href="https://www.businessinsider.com/uber-sent-drivers-coronavirus-guidance-you-feel-sick-stay-home-2020-2">stay home if they felt sick</a>.</p><p>However, critics said that ignored the fact that, unlike salaried employees, staying home would affect their income. After Sen. Mark Warner sent Uber a letter <a href="https://www.businessinsider.com/uber-coronavirus-disease-drivers-paid-compensation-2020-3">calling on it to do more</a>, the company said last Friday that <a href="https://www.businessinsider.com/uber-will-compensate-drivers-put-under-coronavirus-quarantine-report-2020-3">it would compensate drivers</a> who are diagnosed with the coronavirus or placed in mandatory quarantine.</p><p>Uber's remote work policy places it in line with other major companies including <a href="https://www.businessinsider.com/companies-asking-employees-to-work-from-home-due-to-coronavirus-2020">Google, Amazon, Facebook, Apple, and Microsoft</a> who have advised or mandated that employees work from home in an effort to help contain the spread of the coronavirus.</p><h3>Read Macdonald's full email below (with emphasis his):</h3><p class="tagline">Axel Springer, Insider Inc.'s parent company, is an investor in Uber.<a href="https://www.businessinsider.com/intelligence/30-big-tech-predictions-for-2020?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=uber&amp;itm_campaign=30-big-tech-predictions-for-2020"></a></p>

Uber is strongly recommending that employees in the US and many international offices work remotely through April 6 to limit spread of coronavirus

New Delhi, Mar 16 () IT company Wipro on Monday said it has advised employees to work from home, if feasible depending upon their job responsibilities, amid the coronavirus outbreak.<p> Wipro said safety, health and wellbeing of our employees are of paramount importance and over the past several weeks, it has taken a series of preventive measures to protect our employees from the coronavirus outbreak.</p><p> "Given the evolving situation, beginning Monday, March 16, we have advised our employees to work from home wherever feasible and if their role allows them to do so. Wipro offices will remain open.</p><p> "Our global environment, health and safety (EHS) and crisis management teams will continue to assess the situation, review these measures after a week and decide the future course of action," Wipro said in a statement.</p><p> Many other companies like Knowlarity Communication and health tech start-up Navya also asked employees to work from home.</p><p> The Department of Telecommunications (DoT) on March 12 issued advisory to enable around 18-20 lakh employees of IT units registered with it to work from home.</p><p> The DoT has relaxed certain norms for other service providers (OSPs) till April 30 to facilitate work from home (WFH) amid the coronavirus outbreak.</p><p> These include exemptions in requirement of security deposit and agreement for WFH facility for OSPs (IT and IT-enabled services companies), as well as the need for prior permission for offering the facility.</p> Industry body Nasscom and leaders of the IT industry had requested the  government to relax the norms to facilitate business continuity that is posing to be a major challenge for the sector.   PRS HRS

Wipro asks employees to work from home

<p><a href="https://www.businessinsider.com/category/cybersecurity-briefing"></a></p><div type="image" title="A house is enclosed in a security &quot;bubble&quot;" height="1000" width="2000" msid="90428357" hostid="261"></div><ul class="summary-list"><li>Employee education remains a top <keyword id="6361948" type="UNKNOWN" weightage="60" keywordseo="cybersecurity" source="Orion">cybersecurity</keyword> priority.</li><li>Security threats can attack networks from both personal and corporate devices.</li></ul><p>As the CDC <a href="https://www.businessinsider.com/cdc-some-us-counties-can-remove-masks-map-2022-2" target="_blank" rel="noopener">loosens restrictions</a> on COVID-19 measures, businesses have started recalling work-from-home employees back to the office. </p><p>But the move to in-person work is encountering a wave of resistance. For example, when Goldman Sachs CEO David Solomon insisted his staff return to the office earlier this month, only about half of the New York office's 10,000 employees <a href="https://fortune.com/2022/03/11/goldman-sachs-return-to-work-employees-david-solomon/" target="_blank" rel="noopener">showed up</a>.</p><p>The hybrid work environment does not appear to be changing anytime soon, if at all. Therefore protecting WFH employees and their networks from cybercriminals continues to be a corporate imperative.</p><p>Organizations of all sizes have been wrestling with WFH cybersecurity issues for more than two years, but cyberattackers are finding new ways to create <a href="https://www.businessinsider.com/what-is-phishing" target="_blank" rel="noopener">phishing</a> and <a href="https://www.ncsc.gov.uk/collection/supply-chain-security/watering-hole-attacks" target="_blank" rel="noopener">watering hole attacks</a> — where attackers invite victims to visit compromised websites, such as fake COVID-19 sites or "charitable" sites raising money for a range of causes. </p><p><keyword id="12224442" type="UNKNOWN" weightage="60" keywordseo="phishing" source="Orion">Phishing</keyword> continues to be the <a href="https://www.ibm.com/security/data-breach/threat-intelligence/" target="_blank" rel="noopener">No. 1 type of attack</a>, as major, life-changing topics such as the pandemic or war can be an emotional draw for some online users. Educating employees to be wary of these fake emails is crucial, experts said. </p><p>"Security-awareness training for workers is an important component of ensuring home network security," Leanna Serras, chief customer officer of <a href="https://www.fragrancex.com/" target="_blank" rel="noopener">FragranceX.com</a>, a fragrance e-commerce site, said. "The training should aim to provide better awareness of security risks and to teach simple and effective measures to mitigate risks."</p><p>Mike Pedrick, vice president of cybersecurity consulting at<a href="http://www.nuspire.com" target="_blank" rel="noopener"> Nuspire</a>, a managed security services provider, supports a similar mindset. "User-awareness training initiatives that provide employees with information they can see value in for their personal lives still goes a long way here."</p><p>But training is only part of the answer. While some organizations offer year-round training exercises that employees can access from home, fitting in optional security training is often low on priority lists. To that end, scheduled training, as Serras suggested, could be more effective.</p><h2><strong>Defending the home network</strong></h2><p>One challenge corporate IT security teams face is that personal routers, cable modems, and other network hardware in employees' homes lack the latest software updates and patches. </p><p>While some service providers, such as Comcast, automatically update provider-owned devices in customers' homes, these changes are not always reflected in customer-owned equipment. Due to a lack of security modifications, WFH employees are more vulnerable to <a href="https://www.businessinsider.com/what-is-malware#:~:text=for%20more%20stories.-,Malware%20refers%20to%20any%20software%20that%20is%20designed%20with%20malicious,and%20aid%20in%20criminal%20activity." target="_blank" rel="noopener">malware</a>.</p><p>Organizations could opt to install employer-owned firewalls and similar network security devices in employees' homes, but that would be a monumental effort to dispatch technicians to install and configure the devices and maintain them remotely. </p><p>Accessing employees' home networks "represents a bit of a slippery slope," Pedrick said. "Not only does it potentially cross ethical and privacy lines, but it would be prohibitively expensive — especially so for SMBs whose budgets are already lean," he said, referring to small and mid-size businesses.  </p><p>However, companies can opt for the <a href="https://www.systancia.com/en/atawad-en/" target="_blank" rel="noopener">Anytime, Anywhere, Any Device</a> model that is popular with companies that have successfully moved to the public cloud. </p><p>"Meeting security and privacy objectives," Pedrick added, "becomes a strategy of ensuring that access controls are comprehensive — and users are well-trained to protect their credentials — and that sensitive data can only be interacted with on devices, networks, and in locations that the business can accept risk for." </p><p>For example, an employee who uses a corporate device from their known home in New York City would get access to the corporate network, but that same employee trying to access the network on a personal device from Paris would be denied. This approach is part of a <a href="https://www.businessinsider.com/what-to-know-about-the-zero-trust-cybersecurity-model-2022-2" target="_blank" rel="noopener">zero-trust network</a> that authenticates not only the person but the device and software as well.</p><p>Remote users, Serras said, should be trained to secure their home networks through simple measures such as changing the default passwords, the default IP address, disabling remote access to the home network, and regularly updating their router's software. </p><h2>Securing WFH networks can be challenging</h2><p>Some employees are concerned about making changes to their network devices for fear of disabling or damaging their systems. While the company can talk a user through the process, those with little to no <keyword id="11893017" type="UNKNOWN" weightage="100" keywordseo="technology" source="Orion">technology</keyword> experience might be intimidated by the change. </p><p>"It is often overlooked that as much as an employee-owned device or a company device connecting from an uncontrolled network is a threat to the company, a company device can pose a threat to an employee's environment," Pedrick said. "Many businesses, especially in the SMB space, are slow to realize when persistent threats are traversing their networks." </p><p>"Anyone connected to the internet would be prepared and savvy enough to diligently employ industry best practices and state-of-the-art hardware for defense, but not all employees are willing to make such commitments — especially if they're paying for it themselves," he said.</p>

Cyberattacks still threaten home networks, two years after the COVID-19 pandemic spurred the work-from-home boom

<p>Good morning and welcome to Insider <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">Finance</keyword>. I'm Dan DeFrancesco, and here's what's on the agenda today:</p><ul><li>JPMorgan Chase poached a trio of executives from <a href="https://www.businessinsider.com/jpmorgan-chase-key-hires-bolster-digital-banking-team-sonali-divilek-2021-4">Goldman Sachs, Wells Fargo, and Google</a> to focus on digital banking.</li><li>Merrill Lynch's <a href="https://www.businessinsider.com/bofa-merrill-lynch-training-program-advisor-morale-prospecting-pause-2021-4">decision to halt financial advisor trainees</a> from reaching out to prospective clients is hurting the group's morale.</li><li>The future of WFH <a href="https://www.businessinsider.com/wfh-expert-economist-nick-bloom-says-future-of-work-messy-2021-4">could be filled with uncertainty</a>. Nicholas Bloom, an economics professor at Stanford University, explains what to expect. </li></ul><p><a style="font-weight: bold;" href="http://newsletter.businessinsider.com/join/4np/insider-finance">If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.</a></p><p>Like the <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword>? Hate the newsletter? Feel free to drop me a line at <a href="mailto:ddefrancesco@businessinsider.com">ddefrancesco@businessinsider.com</a> or on Twitter <a href="https://twitter.com/dandefrancesco">@DanDeFrancesco</a>. </p><h3><a href="https://www.businessinsider.com/jpmorgan-chase-key-hires-bolster-digital-banking-team-sonali-divilek-2021-4">JPMorgan Chase poached a top Marcus exec along with key hires from Wells Fargo and Google to support a 'huge agenda' for digital banking</a></h3><h2><a href="https://www.businessinsider.com/jpmorgan-chase-key-hires-bolster-digital-banking-team-sonali-divilek-2021-4"><div type="image" title="Sonali   Headshot SDivilek" height="2688" width="3583" msid="82065181" hostid="261"></div></a></h2><p>JPMorgan Chase nabbed three new executives who will bolster its digital-banking efforts. One of the hires is Sonali Divilek, a key executive at Goldman Sachs' Marcus.</p><p><a href="https://www.businessinsider.com/jpmorgan-chase-key-hires-bolster-digital-banking-team-sonali-divilek-2021-4">Meet the other hires here. </a></p><h3><a href="https://www.businessinsider.com/bofa-merrill-lynch-training-program-advisor-morale-prospecting-pause-2021-4">Merrill Lynch's advisor training program is on month 9 of a ban on reaching out to prospective clients. Insiders say morale is taking a big hit.</a></h3><h3><a href="https://www.businessinsider.com/bofa-merrill-lynch-training-program-advisor-morale-prospecting-pause-2021-4"><div type="image" title="Bank of America" height="2292" width="3056" msid="82065182" hostid="261"></div></a></h3><p>Merrill Lynch's massive pipeline for financial advisors has faced issues, and it's weighing on trainees' morale. <a href="https://www.businessinsider.com/bofa-merrill-lynch-training-program-advisor-morale-prospecting-pause-2021-4">Get the full scoop here</a>. </p><h3><a href="https://www.businessinsider.com/brevan-howard-hires-point72-cubist-cto-gurpreet-singh-alpha-strategies-2021-4">Brevan Howard hires ex-Point72 CTO Singh as it ramps up its 'Alpha Strategies' systematic trading fund</a></h3><p><a href="https://www.businessinsider.com/brevan-howard-hires-point72-cubist-cto-gurpreet-singh-alpha-strategies-2021-4"><div type="image" title="Alan Howard" height="1431" width="1907" msid="82065183" hostid="261"></div></a></p><p>Brevan Howard hired Gurpreet Singh as CTO of its Alpha Strategies fund. <a href="https://www.businessinsider.com/brevan-howard-hires-point72-cubist-cto-gurpreet-singh-alpha-strategies-2021-4">Read more about the hire</a>.</p><h3><a href="https://www.businessinsider.com/how-coinbase-ceo-brian-armstrong-landed-a-100-million-term-sheet-2021-4">A phone call from Coinbase CEO Brian Armstrong the night before a $100 million deal left one VC feeling 'nauseous.'</a></h3><h2><a href="https://www.businessinsider.com/how-coinbase-ceo-brian-armstrong-landed-a-100-million-term-sheet-2021-4"><div type="image" title="IVP Team_Square_Tom_Loverro" height="720" width="960" msid="82065184" hostid="261"></div></a></h2><p>The night before submitting a $100 million term sheet, IVP's Tom Loverro received a call from Coinbase CEO Brian Armstrong, who told him Ethereum had crashed. Now, as Coinbase prepares to go public, IVP's stake could be worth as much as $3.33 billion. <a href="https://www.businessinsider.com/how-coinbase-ceo-brian-armstrong-landed-a-100-million-term-sheet-2021-4">Get the full rundown here.</a></p><h3><a href="https://www.businessinsider.com/wfh-expert-economist-nick-bloom-says-future-of-work-messy-2021-4">America's best work-from-home expert is bracing for turmoil</a></h3><h2><a href="https://www.businessinsider.com/wfh-expert-economist-nick-bloom-says-future-of-work-messy-2021-4"><div type="image" title="Stanford economist Nicholas Bloom" height="1333" width="1777" msid="82065185" hostid="261"></div></a></h2><p>Nicholas Bloom, an economics professor at Stanford University, is warning that the future of WFH could be filled with uncertainty. In our exclusive report, he offers advice for corporate America to <a href="https://www.businessinsider.com/wfh-expert-economist-nick-bloom-says-future-of-work-messy-2021-4">navigate the turbulence.</a></p><h3><a href="https://www.businessinsider.com/goldman-sachs-marcus-top-executives-retail-bank-fintech-consumer-2021-3">Goldman Sachs' Marcus is dealing with an exodus of talent. These are the 14 execs left guiding the digital bank.</a></h3><p><a href="https://www.businessinsider.com/goldman-sachs-marcus-top-executives-retail-bank-fintech-consumer-2021-3"><div type="image" title="pjimage" height="999" width="1333" msid="82065187" hostid="261"></div></a></p><p>After a rash of departures, these are the executives left running the show at Goldman Sachs' Marcus. <a href="https://www.businessinsider.com/goldman-sachs-marcus-top-executives-retail-bank-fintech-consumer-2021-3">Get the full rundown here</a>.</p><h2><strong style="color: #222222; font-size: 15px;">Odd lots:</strong></h2><p><a href="https://www.nytimes.com/2021/04/13/business/bank-deposit-error-charles-schwab.html">A $1.2 Million Bank Error Buys a House, and an Arrest, Officials Say (The New York Times)</a></p><p><a href="https://markets.businessinsider.com/currencies/news/bitcoin-etf-approval-mike-novogratz-galaxy-digital-sec-crypto-regulation-2021-4-1030298912">Billionaire Mike Novogratz's Galaxy Digital is the 9th firm to apply for a bitcoin ETF (Markets Insider)</a></p><p><a href="https://www.businessinsider.com/fortnite-maker-epic-games-worth-30-billion-dollars-2021-4">'Fortnite' maker Epic Games is worth just shy of $30 billion after raising another $1 billion in its latest funding round (Insider)</a></p><p><a href="https://www.businessinsider.com/nyse-nft-crypto-art-first-trades-spotify-roblox-doordash-snowflake-2021-4">The New York Stock Exchange is minting crypto art commemorating the first trades of 6 companies that recently went public (Insider)</a></p>

You Searched For "wfh issues" and got 10 results

Goldman junior bankers raised red flags over WFH issues

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