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Data-driven hiring practices, nearly double-digit pay hikes to mark 2024
- In 2024, HR trends are shaping the workforce landscape, with data-driven hiring, diversity-focused practices, and significant pay hikes taking center stage.
- Companies are adapting to changing expectations, emphasizing flexibility, diversity, and fair hiring processes. AI-powered tools are set to revolutionize HR practices, automating tasks and personalizing employee experiences.
- Skill-based hiring gains prominence, particularly in IT, auto, finance, and manufacturing. Despite economic uncertainties, India's hiring sentiment is strong, driven by domestic demand. Startups face cautious hiring, impacted by automation.
- Appraisals in 2024 are expected to see a 9.8% salary raise, reflecting a careful approach amid cost monitoring.
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Employee took 8-minute bathroom break during WFH; 'Take sick leave,' said boss
- In a bizarre twist of remote work dynamics, a disillusioned employee shared a shocking encounter on Reddit.
- Taking an 8-minute bathroom break during a work-from-home day, the individual was met with a voicemail from their boss, urging them to take sick leave, use paid time off, or swiftly return to work.
- This Kafkaesque scenario unfolded against a backdrop of a deteriorating work environment, marked by worse customer interactions, indifferent supervisors, unpredictable schedule changes, and inadequate compensation.
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‘Revengeful’ employees join hands to honey-trap boss, circulate his nude pics to 'humiliate' him
- In a shocking incident in Vadodara, India, two vengeful corporate employees, including a woman who resigned due to alleged workplace humiliation, orchestrated a honey-trap scheme against their boss.
- Over three months, they created a fake Instagram profile, enticing their boss into sending explicit photos. Subsequently, the duo circulated the compromising images to the victim's contacts, including his wife.
- The victim reported the crime to Cyber Crime Police after enduring the ordeal, leading to the identification of the culprits. The police revealed that the revenge plot stemmed from professional grievances. The perpetrators face legal consequences for their actions.
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Top Critical Skills For The AI “Techie”
- Artificial Intelligence demands a robust skill set for tech professionals. Critical skills for AI experts include proficiency in programming languages like Python, familiarity with AI frameworks (TensorFlow, PyTorch), understanding neural networks, machine learning fundamentals, and a strong foundation in mathematics.
- Data manipulation, NLP, computer vision, reinforcement learning, and cloud computing are also crucial. Additionally, expertise in model evaluation, ethics, collaboration, continuous learning, and creative problem-solving are vital.
- Communication skills, particularly in explaining AI concepts to non-technical stakeholders, are emphasized.
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The No.1 ‘desirable’ trait CEOs look for in employees, says Harvard career expert
- Trustworthiness tops CEOs' list of desirable traits in employees, says Harvard's Ranjay Gulati. Character-based and competency-based trust are crucial, with reliability and transparency being as important as job skills.
- Trust not only sets a positive team precedent but also nurtures robust professional relationships. Trustworthy employees navigate bureaucracy effectively, gaining valuable insights and resources.
- Building trust involves showing empathy, vulnerability, and transparency. Acknowledging colleagues' emotions and celebrating their work fosters connections.
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5 Highest-Paying Remote Jobs to Consider in 2024
- The shift to hybrid and remote work has become the new norm, with 60% of the U.S. workforce expected to be remote by the new year. Benefits include increased productivity, better mental and physical well-being, and more job satisfaction.
- Remote work is ideal for those with personal or logistical reasons, such as family time or environmental concerns. Successful remote workers need discipline, self-motivation, and organization.
- High-paying remote jobs include Lead Software Engineer ($122,667 - $240,000), Cybersecurity Engineer ($149,617), Program Delivery Director ($185,000), Product Manager ($110,422 - $180,934), and AI Research Scientist ($130,000 and up).
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Over 4.25 lakh tech employees lose jobs in last 2 years, 24 workers per hour
- Tech companies worldwide have terminated over 425,000 employees in the past two years, with India witnessing over 36,000 job cuts.
- Global macroeconomic conditions have led Big Tech and startups to implement layoffs, totaling 260,771 employees cut in 2023 alone, as per layoff.fyi data. On average, more than 24 workers lose jobs every hour.
- Retail-tech, consumer-tech, and fintech sectors experienced the highest layoffs. Prominent companies like Paytm, ShareChat, Loco, Adda247, Byju's, and Dunzo have implemented significant workforce reductions, contributing to the elimination of over 10,000 positions in the past two years. The layoffs are attributed to cost-cutting and business restructuring amid economic challenges.
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Remote workers are less likely to get promotions and raises, but are happier: Survey
- A recent survey by Resume Builder revealed that remote employees face professional setbacks, with only 42% receiving promotions in 2023 compared to 55% of in-office staff.
- Additionally, just 41% of remote workers received a substantial raise (10% or more), while in-office and hybrid workers fared better at 50%. Despite these challenges, remote workers reported higher job satisfaction, with lower stress levels (30% compared to 43% for in-office employees).
- However, the survey noted that fully in-office workers were more likely to seek new jobs (50%) compared to remote workers (just over a third).
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These are the job interview questions people hate answering
- "Tell me about yourself": Vague and leaves candidates unsure about the appropriate level of detail.
- "Why did you leave your last job?": Balancing honesty about an unpleasant departure can be challenging.
- "What do you think of your current or previous boss?": Discussing negative relationships with superiors poses a difficulty in determining the right level of detail.
- "Describe a difficult situation and how you overcame it": The question's vagueness creates uncertainty about focusing on project or colleague challenges.
- "What are your salary requirements?": Answering becomes tricky without clear indications in the job ad, making it challenging for those seeking a salary increase.
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Companies encourage holiday breaks during last week of 2023
- In the final week of 2023, numerous companies are encouraging employees to embrace holiday breaks, fostering a work-life balance. Many organizations strategically align holidays with weekends, granting extra time off to support staff well-being.
- Deloitte implements an annual year-end downtime, ensuring a break without affecting leave balances. KPMG observes 'dial-down leave,' letting employees relax while managing client commitments.
- Hexaware Technologies enforces a year-end shutdown, coinciding with customer holidays, offering employees a rejuvenating break. Nobroker.com expands mandatory holidays, emphasizing family time.
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Things you should do for your career before the year ends
- Reflect on Achievements: Document and review your professional successes from the past year, including customer feedback, awards, and commendations.
- Assess Job Satisfaction: Evaluate your current role—consider whether you're still challenged and fulfilled, and define new goals for the upcoming year.
- Update Professional Profiles: In a tight job market, refresh your LinkedIn profile, résumé, and other documents if you're thinking about changing jobs.
- Reconnect Professionally: Take time to reconnect with past colleagues and professional contacts through calls, online chats, or coffee meet-ups.
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Here's what to expect in the 2024 Job market
- Full-Time Office Return: Post-pandemic power shift favors employers, leading to a shift from hybrid to full-time office work in 2024.
- Resume Impact Declines: AI tools normalize well-written resumes; job seekers must focus on unique skills and networking to stand out.
- Persistent Job Cuts: Ongoing global economic uncertainties drive continued job cuts in 2024, posing challenges in the job market.
- Gig Economy Embrace: Gen Z's side hustle trend rises; companies may either encourage or impede small business ownership, emphasizing the need for income diversification.
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Woman fired for mysterious antics at company Christmas party after promising she’d ‘behave
- A woman named Molly in the United States claimed she was fired from her job after attending a holiday party where she promised to behave. She shared a TikTok video featuring a termination letter from her boss, citing "gross misconduct" and risking the nursery's reputation.
- Molly mentioned an unnamed person who played an equal part but kept their job. Despite social media offers to pay her, Molly couldn't disclose details without the other person's permission.
- The termination letter did not specify her actions. Commenters questioned the fairness of her dismissal compared to the other person. Molly, in a later video, expressed her inability to share more details.
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Professionals expect AI-led jobs to be highest-paying in 5 years: Report
- Hero Vired's report indicates that 90% foresee AI as the most sought-after skill, with 80% expecting it to be the highest-paying job in the next five years.
- A notable 82% of working professionals express concerns about potential job redundancy due to emerging technologies.
- Despite job insecurity, 78% of professionals view upskilling as a proactive strategy to navigate the evolving job landscape.
- The report highlights a positive trend, stating that 75% of women who underwent upskilling found it easier to re-enter the workforce after a career break.
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5 tips for January job hunters who want to change their occupation, from a career coach
- Dealbreakers: Clearly outline essential aspects of a job, such as salary ranges and work preferences.
- Research Salaries: Use reliable platforms like Salary.com and Payscale to determine realistic salary expectations based on title, experience, and location.
- 4 L's Exercise: Evaluate daily tasks using Love it, Like it, Live with it, Loathe it categories to align job choices with personal satisfaction.
- Adapt Cover Letters: Write concise cover letters directed to the hiring manager, emphasizing keywords using tools like Jobscan.
- Prompt Résumé Preparation: Ensure your résumé is ready early, avoiding delays in the peak demand period of January and February for résumé writers.
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