Ranjeeka Sachdev joins Jaquar as CHRO
HR Katha
by HRK News Bureau
4h ago
More than six successful years at Pernod Ricard as general manager-HR, and Ranjeeka Sachdev has chosen to move on to Jaquar to take on the CHRO role. Backed by over two decades of experience, this alumna of International Management Institute began her professional journey with Maruti Udyog as an intern way back in 2001. Her first major break came in 2002, when she joined Yamaha Motor as manager-HR. There, for three years, she looked in recruitment and compensation; training and development, as well as the performance management system, based out of Faridabad. In 2005, she joined Gap Inc. as as ..read more
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Paytm announces restructuring plans to focus on efficiency and growth
HR Katha
by HRK News Bureau
6h ago
Paytm, the digital payments giant of India, is at a crossroads. The company, known for its ubiquitous mobile wallet, is undergoing a major restructuring – a story of streamlining, scaling up, and navigating a challenging environment. The plan is bold: cut costs by optimising operations. Artificial intelligence is poised to become Paytm’s secret weapon, automating repetitive tasks and freeing up resources. This digital revolution is projected to save 10-15 per cent on employee costs, a crucial step in staying competitive in the fast-paced fintech world. But here’s the twist: even as the workfor ..read more
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Pay hikes for Air India pilots, ground staff and cabin crew
HR Katha
by HRK News Bureau
6h ago
There is reason for the 18,000-strong workforce—including ground staff, cabin crew and pilots— of Air India to smile. The airline has decided on annual appraisals for all staff members who joined before 31 December 2023. The pay hikes will be given based on the new performance-management system, Rise.AI. This is part of the airline’s five-year transformation plan, under which it is offering competitive pay hikes to draw talent and also retain them. and retain talent as part of larger efforts to have a performance-driven and meritocratic culture among the employees. Post the airline’s takeover ..read more
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Wall Street tightens remote work policies as regulatory landscape shifts
HR Katha
by HRK News Bureau
6h ago
A significant shift is underway on Wall Street as major banks adjust their work-from-home policies in anticipation of stricter regulations. Citigroup and HSBC are leading the charge, requiring hundreds of employees to return to full-time office work. Citigroup and HSBC lead the rollback Citigroup is calling back approximately 600 employees who were previously eligible for remote work. HSBC is taking a similar approach, with nearly 350 employees in their New York City office alone expected to be impacted. However, HSBC is attempting to ease the transition by offering options to some employees w ..read more
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Dubai career fair recruits over 100 candidates
HR Katha
by HRK News Bureau
10h ago
Dubai hosted a major career fair on Wednesday, 22 May, with over 28 companies and recruiters from diverse sectors participating to fill more than 100 positions. The event took place at the Times Square Centre from 10a.m. to 2p.m., drawing over 300 jobseekers. The companies that participated included Kingston Stanley, Tips and Toes, Leader Healthcare, Richmond Capital, Allsopp & Allsopp, Chalhoub Group, Genie Recruitment, Parisima Talent, The Loft 5th Avenue, and DSR Group. Candidates were recruited for a range of roles in human resources, corporate sector, beauty and wellness, healthcare ..read more
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Soumendra Mattagajasingh elevated to CHRO, ICICI Bank
HR Katha
by HRK News Bureau
11h ago
ICICI Bank has elevated Soumendra Mattagajasingh to the position of chief human resources officer (CHRO). Mattagajasingh’s association with the Bank began more than 21 years ago. An alumnus of Berhampur University, Mattagajasingh was a senior officer at HPCL in the initial years of his career, for five years, from 1997 to 2002. His association with ICICI Bank began over two decades ago, in 2010. After serving for two years as business HR head-West, he was promoted to business HR head-retail banking and practice head –employee relations. He has been essaying this role for more than 21 years now ..read more
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How to maximise the returns from executive search investment
HR Katha
by Guest Writer
11h ago
CXO hiring calls for significant investment. The visible cost components such as executive search fees, flying in candidates/panel members or psychometric testing are the lesser ones. Larger costs remain invisible—the cascading effect of higher compensation of the new leaders; interruption to business because of departure of team members; and inability to shift focus to business due to volatile internal team dynamics. While these costs are difficult to estimate, they are not small.  It is estimated that visible costs are just 15—20 per cent, leading to a conservative investment of Rs 4 to ..read more
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Why India’s prestigious IITs are struggling to place graduates
HR Katha
by Radhika Sharma | HRKatha
11h ago
The news rippled through India’s academic circles like a shockwave: a staggering 38% of the graduating class from the Indian Institutes of Technology (IITs) – once the golden ticket to a high-paying job – remained unplaced. This wasn’t just a blip on the radar; it was a stark reminder that even the most prestigious institutions aren’t immune to the harsh realities of the job market. For decades, IITs and their counterparts, the Indian Institutes of Management (IIMs), were the holy grail of Indian education. Their graduates – engineers and managers – were coveted by corporations worldwide. But ..read more
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IHCL to empower local youth in J&K
HR Katha
by HRK News Bureau
11h ago
The Indian Hotels Company (IHCL), has inaugurated a state-of-the-art skill-development centre in Boniyar, Baramulla, Jammu & Kashmir. This initiative aims to empower local youth by addressing the increasing demand for a skilled workforce in the region, particularly in the hospitality sector. To facilitate the same, IHCL has entered into a partnership with the non-profit organisation REACHA, Tata STRIVE, as well as the Indian Army. This comes amid the surge in tourism in Jammu and Kashmir, creating a significant demand for a skilled workforce in the hospitality sector. Furthermore, thi ..read more
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Was shortage of staff the reason for Citibank’s costly ‘fat-finger’ error?
HR Katha
by HRK News Bureau
11h ago
Had Citigroup put in place compliance personnel, it could have averted the ‘fat finger’ error that resulted in erroneous sell orders worth$1.4 billion on 2 May 2022. The system processed a $444 billion order that was actually supposed to amount to merely $58 million. Investigations into the costly error have revealed that on that day Citi was facing a shortage of staff. London was observing a bank holiday, and therefore, those in charge of monitoring trade executions using the CitiSmart app were on leave. This work was passed on to the electronic execution desk, which was unable to sniff out t ..read more
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