First, control discretionary costs

First, control discretionary costs
To avoid such unpleasant situation, organisation needs to focus on actions related to business growth and opportunities.

How do you evaluate the growing layoff trend and decode the underlying circumstances in Indian context? Will global layoffs jolt India’s IT sector?

VP The year 2023 for sure is not a happy new year for our tech workers due to the global trend of reducing the workforce. The layoff trend emerged post-pandemic amid ongoing global economic conditions, after which companies world-wide has got entangled in the layoff trend which is set to worsen in 2023.

India’s IT sector is one of the largest employers in the organised sector, any global layoff trend is certain to have an impact on their growth projections though there isn’t a visible trend yet so far in India. Most of the top IT companies saw a rise in revenue and net profit and few have already announced variable pay-outs including increments to their employees. Ongoing challenges related to the attrition rates, are still high, which means that there are enough opportunities for the employees and business for competitions to attract employees with higher salaries,...

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Vinod Parur

currently is the Chief Human Resources Officer (CHRO) at RR KABEL. With more than 22 years of work experience, he has worked with multifaceted industries like infrastructure, pharma, engineering and manufacturing companies. His functional core competencies are in the areas of strategic human resources planning, talent management and development, performance management, leadership development, training & development, assessment & certification, employee relations and EH&S Management. He is visiting guest speaker, mentor and in advisor board of reputed management institutes.

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Vinod Parur

currently is the Chief Human Resources Officer (CHRO) at RR KABEL. With more than 22 years of work experience, he has worked with multifaceted industries like infrastructure, pharma, engineering and manufacturing companies. His functional core competencies are in the areas of strategic human resources planning, talent management and development, performance management, leadership development, training & development, assessment & certification, employee relations and EH&S Management. He is visiting guest speaker, mentor and in advisor board of reputed management institutes.

March 2024

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