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Unable to compensate staff, Hyatt Regency Mumbai shuts

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Hyatt Regency & Resorts, the American hospitality chain, has suspended operations at Hyatt Regency Hotel, Mumbai, due to the inability to pay salaries to the staff. Dearth of funds is the reason for suspension of operations.

An official statement from the Hotel reveals that owing to the non-payment of dues by Asian Hotels — the Indian company that owns the Mumbai Hotel — it is unable to pay salaries to the staff on its rolls. The operations will be suspended until further notice.

Incidentally, Asia Hotels (West) is also the owner of JW Marriott Hotel New Delhi, Aerocity through subsidiary company Aria Hotels and Consultancy Services.

Asia Hotels (West) was initially incorporated as Chillwinds Hotels back in 2007. As on March 31 this year, the promoter and promoter group of the luxury hotel hold 70.42 per cent of the shares of the company, while the public holds 29.58 per cent. Among the individual promoters are Vinita Gupta, Madhu Jain, Renu Arun Aggarwal, Jyotsana Amal Karl, Sandeep Gupta, Sushil Kumar Gupta, Sudhir Chamanlal Gupta, Pankaj Gupta, Gunjan Jain and Sonal Sharma,

The Hotel has assured that it is looking at resolving the situation at the earliest. Until then, no future reservations will be available.

In May 2020, Hyatt Hotels Corp. had announced layoffs and had gone for major restructuring of roles across its global corporate functions. At the time, the Company had admitted that the move would impact about 1,300 employees around the world. The Company’s portfolio includes over a thousand hotels and wellness-resort properties in 68 countries across six continents.

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Source: https://www.hrkatha.com/news/unable-to-compensate-staff-hyatt-regency-mumbai-shuts/

HRTech

Has the pandemic inspired Indian Millennials, GenZ, to be more responsible, sympathetic, compassionate?

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The pandemic has affected each and every one of us, albeit in different ways. Some effects have been truly positive. For instance, it is heartening to know that Millennials and GenZ in India truly feel for the world and are willing to do their bit for sustainability and positivity, now more than ever before. They seem to have gained inspiration from the pandemic to do something to improve their own lives and of those around them.

Inspiration: Deloitte’s Millennial and GenZ Survey 2021 for India, reveals that 91 per cent Indian Millennials and 84 per cent GenZ have admitted to being inspired by the pandemic to take positive steps to improve their own lives. In comparison, globally, only 71 per cent Millennials and 70 per cent GenZ have been inspired to do anything.

Togetherness: A whopping 91 per cent Indian Millennials and 85 per cent GenZ say they truly felt that people all around the world were “in this together”. In comparison, globally, only 63 per cent Millennials and 60 per cent GenZ felt the same.

Positive action: The pandemic prompted a significant 89 per cent Indian Millennials and 82 per cent GenZ to take measures and actions that would affect their community in a positive manner. Globally, however, only 59 per cent Millennials and 59 per cent GenZ did something for their community.

Sympathy: A good 88 per cent Indian Millennials and 79 per cent GenZ became more sympathetic towards the needs of others in their local community. Globally, the pandemic made only 69 per cent Millennials and 68 per cent GenZ more sympathetic.

Compassion: While 58 per cent Indian Millennials and 53 per cent GenZ feel that people have more compassionate towards each other due to the pandemic, only 43 per cent global Millennials and 40 per cent global GenZ share the same feeling.

Responsibility: While 58 per cent Indian Millennials and 49 per cent Indian GenZ are sure that Businesses have exhibited an increased sense of responsibility after the pandemic, the figures are lower for Miellanials and GenZ globally, at 34 and 38 per cent respectively.

Cooperation: Fifty-six per cent of Indian Millennials and 53 per cent Indian GenZ feel that the pandemic has led to increased cooperation between countries. However, globally, only 36 per cent Millennials and 39 per cent GenZ share the same thought.

Commitment: More Indian Millennials (53 per cent) and GenZ (55 per cent) believe that people’s commitment to take personal action for environmental and climate issues has changed for the better. In comparison, globally, only 37 per cent Millennials and 40 per cent GenZ feel the same.

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Source: https://www.hrkatha.com/research/has-the-pandemic-inspired-indian-millennials-genz-to-be-more-responsible-sympathetic-compassionate/

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Bank of Baroda offers flexibility to staff

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Bank of Baroda (BOB) is preparing to offer its staff immense flexibility with the ‘work from anywhere’ and ‘hybrid’ work models being implemented. The objective is to provide better work-life balance and also improve productivity in the longer term.

The Bank is considering implementing an operating model which will involve remote working options for specific roles and hybrid working for others. The Bank has come to realise the need to digitally deliver banking services, which has led to its digitising a significant portion of its operations and services to better serve its customers.

It is rapidly moving towards paperless functioning. With relevant applications in place, mobile banking has become the norm for most customers. The Bank is confident that except for a couple of services which can be delivered well via the physical branches, the customers are increasingly taking to dealing and transacting via their phones. In its attempt to ready the Bank for the future, BoB will ensure an ideal mix of both physical and digital presence. In line with this goal, BoB has launched the ‘BOB NOWW’ (New Operating model and Ways of Working) initiative under which the branch network will be rightsized and customer touch points will be increased through digital formats.

The Bank is working to serve customers better with tailored offerings that are customer centric. The initiatives being considered to achieve this goal will also result in cost optimisation and facilitate growth by creating more value for all stakeholders. In addition, its ‘mobile first’ initiative focusses on making the mobile app the main interface with the customers.

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Source: https://www.hrkatha.com/news/work-life-balance/bank-of-baroda-offers-flexibility-to-staff/

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Hiring improves in IT-hardware, software, led by Bangalore (67%) and Hyderabad (49%)

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The month of May has shown promising growth in spite of the second wave of the pandemic. The growth in May 2021 was one per cent as compared to April 2021 and four per cent as compared to May 2020, as revealed by the Monster Employment Index. Among the functions, software, hardware, telecom indicate growth across all the key cities, led by Bangalore (79 per cent), Hyderabad (62 per cent), and Chennai (50 per cent). IT – hardware, software hiring witnessed a year-on-year growth of 67 per cent in Bangalore and 49 per cent in Hyderabad. Industries that indicate the highest year-on-year growth in hiring across the key cities are banking/ financial services, insurance and IT – hardware, software. Overall hiring activity showed a phenomenal uptrend in most of the cities year-on-year.

In terms of hiring professionals for top management level — those with 16 or more years of work experience — there has been a growth of 66 per cent year-on-year (May 2021 vs. May 2020).

A significant 45 per cent of the industries indicate positive month-on-month (May 2021 vs. April 2021) growth in job postings, with retail (24 per cent), home appliances (13 per cent), and telecom/ISP (10 per cent) industries showing the highest growth. Other industries that are doing well compared to the previous month include IT – hardware, software, banking/ financial services, insurance, office equipment/automation, and healthcare, bio technology & life sciences, and pharmaceuticals. A downward trend was witnessed in travel and tourism (-13 per cent), import/ export (-11 per cent), and printing/ packaging (-8 per cent) continue to face the challenges of the pandemic with a decline in job postings.

Hiring in 56 per cent of the industries was far better in May 2021 as compared to May 2020. Looks like companies are in a better position to deal with the pandemic now. Job postings have grown 29 per cent in the IT – hardware, software space, 25 per cent in the logistics, courier/freight/ transportation space and 23 per cent in the telecom/ISP industries. However, there was a 49 per cent decline in the job postings in the travel and tourism space in May 2021. Other industries that witnessed a decline in May 2021 as compared to May 2020, were education (-31%) and engineering, cement, construction, iron/ steel (-20%) industries also witnessed a decline in hiring activities, year-on-year.

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Source: https://www.hrkatha.com/hiring-firing/hiring-improves-in-it-hardware-software-led-by-bangalore-67-and-hyderabad-49/

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Saraf Furniture to hire 250 from LGBTQ+ community

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Saraf Furniture is taking its Diversity & Inclusion (D&I) agenda quite seriously. The online furniture company is all set to take on 250 people from the LGBTQ+ community in FY 2021-22. An expert committee is being put together to carry out this plan smoothly.

The Company that sells solid wood furniture online, will hire members of the LGBTQ community for its human resources, interior designing, website development, AutoCad, digital marketing, after-sales support, chat support, Search Engine Optimisation (SEO) experts, AutoCAD expert, and supply chain management teams.

That is not all. The Company has been sensitising and training the existing workforce, and spreading awareness about lifestyle diversity in preparation to onboard members of the LGBTQ community.

Unisex washrooms are being constructed and a special welfare committee is being constituted to focus on protecting the rights of the Community.

The move, probably the first of its kind in India Inc. is the Company’s way of showing its commitment towards ensuring equality at the workplace in every sense of the word.

Raghunandan Saraf, founder & CEO, Saraf Furniture, hopes that more organisations will follow suit and hire from the LGBTQ community. He feels that unless companies actually do something concrete in this direction, the purpose of discussions on equality for the community and safeguarding their rights is defeated. While there are innumerable social-media campaigns going on for the community, little is being done by the corporate world on ground in terms of actively hiring from the community in large numbers.

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Source: https://www.hrkatha.com/news/diversity/saraf-furniture-to-hire-250-from-lgbtq-community/

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