Human Resource Community

The omnichannel platform, Fynd plans to hire at least 2,000 more engineers by the end of the fiscal year 2023 after opening a new office in Bengaluru. The Reliance-backed platform has previously stated that as part of a hiring push, it intended to acquire 30% of its talent from Ahmedabad (Gujarat). Over 1200 new hires across junior and senior levels have been announced by the company at the time. It subsequently started looking for individuals with training in full stack, Java, Python, DevOps, Node, Mobile & IoS, and other related fields. The company now employs 750 people, having more than doubled its team size in the previous six months. In accordance with its ambitions for growth and expansion throughout South India, it is currently seeking to hire more people. A sizable portion of the new employees will work in the company's Bengaluru branch. As a result, in the most recent hiring round, 800 engineers would be hired from South India. The multiplatform tech company will need the new personnel to develop new products and explore new markets. The company just unveiled the fourth batch of Fynd Academy, their accelerated learning programme that trains both new hires and seasoned experts in technical and practical skills. The courses are created with the intention of providing candidates with practical, in-demand skills, hands-on projects, and guided mentoring, so they can use these abilities and integrate into the Fynd workforce. Source: PTI

According to the 7th Pay Commission, central government employees will need to adhere to new regulations in order to receive leave travel concessions, or LTC. Government employees must now purchase the least expensive ticket in order to be eligible for reimbursement, according to the Ministry of Finance. Additionally, they must reserve the single ticket from an authorised travel agent, and that too at least three weeks beforehand. Employees have been instructed not to cancel tickets. According to India.com, Bomer Lawrie & Company, Ashok Travels, and IRCTC are the authorised agencies. Employees are not required to pay these agencies any fees. Employees must provide the reasons for the cancellation of the tickets within 72 hours if there are circumstances that make it impossible for them to do otherwise. If the government approves the increase in fitment factor, some wage modifications are also possible for government employees. For a while now, employee unions have been calling for an increase in the fitment factor. The demand is to raise it to 3.68 percent from its current 2.57 percent level. The minimum salary will increase by 8,000 rupees, to 26,000, if the increase is approved. Employees can anticipate a dearness allowance (DA) of over 34% if the dearness allowance is also increased, which it is most likely to do.

PickMyWork, an Indian digital distribution network that assists digital companies in acquiring end customers (both individuals and businesses), has announced plans to expand its agent network by tenfold and empower over one lakh agents. Currently, the network contains 10,000 gig workers and merchants. PickMyWork can leverage this network to help consumer tech companies connect with end users and retailers. PickMyWork co-founder and CSO Kajal Malik said, “We aim at supporting consumer tech companies while also creating income opportunities in tier 2 and tier 3 cities.” PickMyWork is attempting to re-establish earning prospects for workers in tier 1 and tier 2 cities, particularly those who were rendered jobless as a result of the pandemic, so that they can gradually re-establish their life in the comfort of their homes. Many jobless / gig workers have gained hope as a result of this campaign. The existing 35-strong workforce at the Gurugram-based firm will shortly grow. The firm is looking for talent in a variety of areas, including technology, business development, marketing, and alliances and partnerships. According to Malik, the platform has “seen overwhelming results” in “trying to develop a holistic model for all” and is now ready to “seek to grow 10x.” The pay-per-task startup is trying to expand its in-house workforce, which will result in additional permanent positions being created. This is also consistent with PickMyWork’s financial goals. Many consumer technology businesses in tier 2 and tier 3 cities that were having trouble breaking into the market are now partnering with PickMyWork for a higher return on investment and faster results. Clients include Meesho, Freecharge, AU Small Finance Bank, and other B2B behemoths.

Prime Minister Narendra Modi has assessed the situation of Human Resources in all departments and ministries, and mandated that recruitment of 10 lakh employees by the in “mission mode” in next 1.5 years, the Prime Minister’s Office (PMO) said in a tweet. The Ministry of Home Affairs has initiated the process to fill vacancies across Central government departments on a mission mode. On Twitter, this has been called a ‘people-centric’ decision by Minister of State for Personnel Jitendra Singh, which will “bring a lot of cheer and optimism for India’s youth. Meanwhile, according to a study released by the Ministry of Statistics and Programme Implementation on 14 June 2022, the country’s unemployment rate fell to 4.2 percent in 2020-21, despite the fact that millions of people were made jobless by the pandemic. In India, the labour force participation rate, or LFPR, has also increased. It increased from 40.1 percent in 2019-20 to 41.6 percent in 2020-21! The results for female labour force participation have also been fairly positive. Women’s participation in the labour force is expected to increase to 25.1% in 2020-21. In 2019-20, it was only 22.8 percent, and in 2017-18, it was even lower at 17.5 percent. The number of employed people has increased as well, as evidenced by the fact that the worker population ratio (WPR) has risen to 39.8% in 2020-21. The figure was 38.2 per cent in 2019-20, 35.3 per cent in the period before that and only 34.7 per cent in 2017-18.

Mobikwik, a Gurugram-based fintech firm, has temporarily shelved its plans for an initial public offering (IPO) in favour of raising $100 million from a variety of investors. The cash will be used by the digital payments company to not only hire new employees, but also to expand its business and improve its marketing tactics and goals. According to Bloomberg, the investment round’s valuation has yet to be released. Mobikwik, which was co-founded by Upasna Taku, CEO, was able to secure $20 million in funding from the Abu Dhabi Investment Authority (ADIA) in June 2021, at a valuation of $700-$750 million. To date, the company has reportedly raised $176 million. The thirteen-year-old fintech firm operates a platform that offers a variety of financial services such as credit, insurance, gold loans, and mobile recharges. It had planned to conduct its initial public offering (IPO) in the first quarter of this year, but it has been postponed due to market uncertainties. Sequoia Capital, Treeline Asia, Cisco Systems, American Express, and Bajaj Finance are among the existing investors that would sell a portion of their shares in the IPO, which Mobikwik wants to garner around Rs 1,900 crores. Employee stock options will make many Mobikwik employees wealthy as a result of the IPO. In the IPO, the company has set aside around 7% of its equity for ESOPs. Many of its employees are valued Rs 1 crore or more, with some even exceeding Rs 10 crore.

Kinara Capital, an Indian fintech firm, is planning to hire 700 more employees. It will hire for a variety of positions throughout its 125 branches, which are distributed across 90+ cities. There are openings at all levels, for both newcomers and seasoned professionals, and they will be filled by November 2022. Sales, collections, operations, credit risk, and internal quality audit (IQA) are all looking for qualified candidates. Human resources, information technology (IT), data science, engineering, data platform, business operations, finance & accounting, marketing, products & strategy, and more are all available at its Bengaluru head office. Kinara Capital is one of the few companies where women make up the majority of the management team. Because of the Company’s innovative inclusive culture, there is gender inclusion in every area. Employees with disabilities and members of the LGBTQ+ community are currently employed by the company. Kinara, which focuses on SMEs, also offers LEAP, a high-skill training programme for new employees to assist them get a head start in their careers. The six-month intensive training programme is paid and includes tough classroom instruction followed by hands-on field experience. It has already taught over 100 freshers for the corporate world in the last year. Some of those who have received training here have gone on to become excellent problem solvers and hub managers. “We are growing our team to support even more MSMEs, especially as we continue to expand in Tier 2 and Tier 3 geographies,” Hardika Shah, founder and CEO of Kinara Capital, stated, reiterating Kinara’s commitment to offering great customer service to underserved entrepreneurs. Our national hiring drive is with the intent to seek out professionals who wish to lead a purpose-driven life and make an impact on others by furthering our mission of financial inclusion.”