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- DMK patriarch and former Tamil Nadu Chief Minister M. Karunanidhi was buried beside his mentor C.N. Annadurai on the sands of Marina beach here on Wednesday after his party clinched a midnight legal battle as lakhs of commoners wept, pushed and jostled for space to bid adieu to their leader, causing a stampede that killed two mourners and injured many.
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Digital skill development one of biggest challenges: Infosys According to the report, 54 per cent respondents said building digital skill sets is a major challenge for organisations, highlighting the lack of digital skill set available. IT cos hand out better hikes to retain talent BENGALURU: Indian IT firms are seeing higher attrition as they see talent with newer skills such as digital and analytics moving to rivals as well as global firms who are expanding their teams in India.Infosys and Cognizant both saw attrition cross 20% in the quarter to June, implying that they are now losing a fifth of their workforce. Wiproâs attrition touched 17%. Only Tata Consultancy Services attrition fell marginally to 10.9% in the quarter.Infosys, Cognizant and Wipro attributed the higher attrition to a great demand for talent as growth returns to the IT sector. Cognizantâs attrition, at more than 22%, was also impacted by a stricter performance management system.Indian IT firms are seeing customers award larger digital deals in recent months but the contracts are still not enough to retain people who are retrained in newer skills. At the same time, they are also seeing their customers who have expanded their operations in India poaching employees to meet their needs.Companies are now taking steps to pull back rising attrition and are also raising the number of people they hire from the market. âWe are making changes in very specific ways in the compensation model, the timeline of when the compensation is rolled out, how we are doing the movement of expanding leadership and promotions within the company. And my sense is, as that starts to be more properly explained and disseminated within the company, we will start to see an impact,â Salil Parekh, CEO at Infosys, told ET in an interview. Parekh said the changes were put in place in the start of the first quarter and would begin to show an impact in the year ahead. Cognizant has also said it hopes the compensation changes its plans to put in place in the third-and-fourth quarter would help curb its attrition amount.âWe expect our regular annual pay increases, which take place in the third and fourth quarters, to help retain our highest performers,â Rajeev Mehta, president at Cognizant, said in a post-earnings conference call. Cognizant has also announced a plan to cut about 200 senior-level jobs as a move to allow junior employees to grow. The company also split the timing of its raises and promotions.Junior employees at Cognizant will receive their hikes and promotions in the third quarter of the year, while senior employees will receive their hikes in the fourth quarter. Treating the two types of employees differently is likely a result of where the demand and, hence, attrition is the highest. âIn my view it is a demand supply issue. The majority of the attrition is in the 3-5 years category; people who are becoming full stack engineers and kind of stuff,â Saurabh Govil, head of human resources at Wipro, said. Infosys had also said it was seeing higher attrition in the 2-4-year category of employees. Higher attrition and a pickup in growth is driving an increase in the number of employees. RBI to transfer Rs 50,000 crore surplus to govt MUMBAI: The Reserve Bank today said it has decided to pay a dividend of Rs 50,000 crore to the Union government for the year ending June 30, 2018."The Central Board of Directors of the Reserve Bank of India, at its meeting held on August 8, 2018, approved the transfer of surplus amounting to Rs 500 billion for the year ended June 30, 2018 to the Government of India," the central bank said in a statement.The RBI follows July-June financial year.The RBI had last year transferred a surplus of Rs 30,659 crore as dividend to the government for the year ended June 30, 2017, which was less than half of what it paid in the previous year (Rs 65,876 crore).Earlier in March this year, the central bank had paid an interim dividend of Rs 10,000 crore for 2017-18.The surplus payout in June 2017 year was low on account of expenses incurred on printing of new currency notes following demonetisation effected on November 9, 2016. Digital skill development one of biggest challenges: Infosys NEW DELHI: Building digital skill sets is one of the biggest challenges for organisations embarking on the path of digital transformation, according to a report by IT major Infosys.According to the report, 54 per cent respondents said building digital skill sets is a major challenge for organisations, highlighting the lack of digital skill set available.Transforming from a low-risk organisation to one that rewards experimentation (43 per cent) and lack of change management (43 per cent) were other barriers highlighted by the respondents.This showcases the turbulence and resistance to change associated with digital transformation, the report added."...more than half of all respondents surveyed, rank focus on digital skillset as the most important factor in successful transformation, followed by senior leadership commitment and change management, implying the need for a conducive organisational culture," the report said.The research identified three clusters of respondents based on the business objectives behind their digital transformation initiatives -- Visionaries (22 per cent), Explorers (50 per cent) and Watchers (28 per cent).While Watchers and Explorers are primarily focusing on emerging technologies like Artificial Intelligence (AI), Blockchain and 3D printing for digital transformation initiatives, Visionaries are not only looking at emerging technologies, but are also focusing strongly on core areas such as mainframe and ERP modernisation, the report said.Also, building in-house capabilities was on the list of 76 per cent of Visionaries, who were keen on acquiring digital native firms, to quickly gain the digital skills that 71 per cent of the Visionaries believed were lacking in-house.Thereby, showcasing the increasing trend towards acquisitions and development of a sustainable ecosystem. Comparatively, the proportion of Explorers and Watchers looking at the acquisition and ecosystem options was negligible, the report said."Navigating the digital disruption requires companies to drive a holistic approach to transformation and foster a digital culture that brings together leadership commitment and a renewed approach to skill building," Infosys Chief Operating Officer Pravin Rao said. - USN sees greater possible savings with two-carrier deal
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- DMK chief and former Tamil Nadu chief minister M Karunanidhi was laid to rest with full state honours and gun salute on Wednesday evening. He was buried next to his mentor and former chief minister C N Annadurai at the Marina beach. The Madras High Court passed a ruling earlier today, allowing the five-time chief minister to be laid to rest at the Marina Beach. The court observed that there was no legal impediment in allowing the burial. Karunanidhi passed away on Tuesday at the age of 94. His mortal remains were kept at Rajaji Hall for the public to pay homage. The last journey of 'Kalaignar' Karunanidhi began at 4:00 pm. One of the last stalwarts of Dravidian politics, Karunanidhi deepened the idea of federalism and inspired regional assertion and self-respect
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- à´à´°àµà´£à´¾à´¨à´¿à´§à´¿; à´¸àµà´µà´¾à´¤à´¨àµà´¤àµà´°àµà´¯à´¦à´¿à´¨à´¤àµà´¤à´¿à´¨àµ à´¦àµà´¶àµà´¯ പതാഠà´à´¯à´°àµâà´¤àµà´¤à´¿à´¯ à´à´¦àµà´¯ à´®àµà´àµà´¯à´®à´¨àµà´¤àµà´°à´¿
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- TIRUPATI, AUG 8
- Task Force IG Kantha Rao, explaining to Andhra pradesh Chief conservator of Forests (APCCF) Ananda Kumar Jha, about the things used by the smugglers at Red Sander Anti Smuggling Task Force (RSASTF) office near Kapilatheertham in Tirupati on Wednesday. UNI PHOTO-158U
- THIRUVANANTHAPURAM, AUG 8
- Kerala Port and Museum Minister Kadannappally Ramachandran(R2nd) watching Palm-leaf manuscripts of Ramayanam displayed by the Kerala Archives department in Thiruvananthapuram on Wednesday.UNI PHOTO-157U
- Kerala Port and Museum Minister Kadannappally Ramachandran (C) watching Palm-leaf manuscripts of Ramayanam displayed by the Kerala Archives department in Thiruvananthapuram on Wednesday.UNI PHOTO-156U
- Kerala Port and Museum Minister Kadannappally Ramachandran (C)watching Palm-leaf manuscripts of Ramayanam displayed by the Kerala Archives department in Thiruvananthapuram on Wednesday.UNI PHOTO-155U
- Kerala Port and Museum Minister Kadannappally Ramachandran (C) watching Palm-leaf manuscripts of Ramayanam displayed by the Kerala Archives department in Thiruvananthapuram on Wednesday. UNI PHOTO-154U
- PATNA, AUG 8
- Manju Verma addresses a press after resigning as Bihar Social Welfare Minister over the allegations against her husband, who is accused of his links with the Muzaffarpur shelter rape case, in Patna on Wednesday. UNI PHOTO-153U
- Manju Verma addresses a press after resigning as Bihar Social Welfare Minister over the allegations against her husband, who is accused of his links with the Muzaffarpur shelter rape case, in Patna on Wednesday. UNI PHOTO-152U
- Manju Verma addresses a press after resigning as Bihar Social Welfare Minister over the allegations against her husband, who is accused of his links with the Muzaffarpur shelter rape case, in Patna on Wednesday. UNI PHOTO-151U
- MUZAFFARPUR, BIHAR, AUG 8
- Main accused shelter home case Brajesh Thakur, after a woman allegedly threw ink on his face while he was being taken to a special POCSO court, in Muzaffarpur on Wednesday. UNI PHOTO-150U
- Main accused shelter home case Brajesh Thakur, after a woman allegedly threw ink on his face while he was being taken to a special POCSO court, in Muzaffarpur on Wednesday. UNI PHOTO-149U
- People gathered outside Major Kausthubh Prakash Rane house who gave his life against fights for Terrorist in Jammu and Kashmir at Hiral Sagar Building, Mira Raod in Thane on Wednesday. UNI PHOTO-148U
- People gathered outside Major Kausthubh Prakash Rane house who gave his life against fights for Terrorist in Jammu and Kashmir at Hiral Sagar Building, Mira Raod in Thane on Wednesday. UNI PHOTO-147U
- People gathered outside Major Kausthubh Prakash Rane house who gave his life against fights for Terrorist in Jammu and Kashmir at Hiral Sagar Building, Mira Raod in Thane on Wednesday. UNI PHOTO-146U
- People gathered outside Major Kausthubh Prakash Rane house who gave his life against fights for Terrorist in Jammu and Kashmir at Hiral Sagar Building, Mira Raod in Thane on Wednesday. UNI PHOTO-145U
- AHMEDABAD, AUG 08
- Virat Diwanji, President - Retail Liabilities & Branch Banking, Kotak Mahindra Bank announce the Bankâs fastest pace of customer acquisition & savings account growth driven by 811 and 6% interest rate, in Ahmedabad on Wednesday.UNI PHOTO-144U
- âRanak Setalvad, RBM, (L-R) Virat Diwanji, President - Retail Liabilities & Branch Banking and Amul Sharma, Sr. RBM, Kotak Mahindra Bank announce the Bankâs fastest pace of customer acquisition & savings account growth driven by 811 and 6% interest rate, in Ahmedabad on Wednesday.UNI PHOTO-143U
- âRanak Setalvad, RBM, (L-R) Virat Diwanji, President - Retail Liabilities & Branch Banking and Amul Sharma, Sr. RBM, Kotak Mahindra Bank announce the Bankâs fastest pace of customer acquisition & savings account growth driven by 811 and 6% interest rate, in Ahmedabad on Wednesday.UNI PHOTO-142U
- Virat Diwanji, President - Retail Liabilities and Branch Banking, Kotak Mahindra Bank announce the Bankâs fastest pace of customer acquisition & savings account growth driven by 811 and 6% interest rate, in Ahmedabad on Wednesday.UNI PHOTO-141u
- Bollywood actor and former india Rugby player Rahul Bose with World Rugby CEO Brett Gosper during unveiling of webb ellis Rugby World cup 2019 trophy,in Mumbai on Wednesday. UNI PHOTO-140U
- Bollywood actor and former india Rugby player Rahul Bose with World Rugby CEO Brett Gosper during unveiling of webb ellis Rugby World cup 2019 trophy,in Mumbai on Wednesday. UNI PHOTO-139U
- Manju Verma resignation only under media pressure, no action by Nitish Kumar : Maliwal
- Army pays tribute to soldiers martyred near LoC
- Srinagar, Aug 8 (UNI) The Army on Wednesday paid floral tribute to four soldiers, including an officer, who were killed in a counter infiltration operation on Tuesday near the Line of Control (LoC) in Gurez sector in north Kashmir.
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Wednesday, August 8, 2018
Latest News Headlines Wed Aug 8 19:54:07 IST 2018
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