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Time of India
15 hours ago
- Business
- Time of India
CEO pay in India averaged Rs 7.2 crore in FY24, MNCs offer higher salaries than Indian firms: Report
Advt Advt Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. All about ETHRWorld industry right on your smartphone! Download the ETHRWorld App and get the Realtime updates and Save your favourite articles. The average compensation for Chief Executive Officers (CEOs) in India's listed companies touched Rs 7.2 crore, growing at an annual rate of 9 per cent over the last decade, according to a report by executive search firm Resource report observed that Chief Financial Officers (CFOs), by comparison, drew an average of Rs 2.3 crore, with compensation levels rising 1.7 times over the same report indicates that CEO compensation has doubled in the last 10 years, while CFO pay has registered a significant, though relatively moderate, growth."CEO's compensation more than doubled, from Rs 3.3 crore in FY15, to Rs 7.2 crore in FY24 - a 9 per cent CAGR growth over a 10-year period," the report CEOs in the manufacturing sector continue to command some of the highest pay packages, while CFOs in service-led industries have emerged as top earners among their peers.A notable regional disparity also comes through in the data as CEOs and CFOs in northern India command the highest compensation across the country, while those based in the east consistently earn the east. The trend holds across sectors and company structure also plays a decisive role in executive compensation. Multinational corporations, according to the report, continue to outpace Indian-owned firms in terms of pay at the top levels. Additionally, companies that cross critical turnover thresholds of Rs 5,000 crore, Rs 50,000 crore and Rs 1 lakh crore show a sharp upward inflexion in executive observation also shows a stark difference in pay between multinational firms and Indian firms. According to the report, multinational companies (MNCs) in India pay their employees about 10-11 per cent more than similar-sized Indian CEO Compensation Report 2025 and CFO Compensation Report 2025 are the outcome of a three-month analysis of annual reports from nearly 1,000 listed companies, coupled with open-source financial data in the public over 20 industry sectors and backed by data from FY15 to FY24, the report positions itself as one of the most comprehensive compensation studies for top leadership roles in the country.
Time of India
a day ago
- Business
- Time of India
Why companies are using algorithms to spark dialogue on performance, not decide careers
Advt Advt By , ETHRWorld Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. All about ETHRWorld industry right on your smartphone! Download the ETHRWorld App and get the Realtime updates and Save your favourite articles. A joint report by the International Labour Organisation (ILO) and the European Commission describes Algorithmic Management (AM) in today's workplaces as a double-edged to the report, while AM improves monitoring and provides measurable productivity metrics, it also fosters micromanagement , which can lead to a decline in overall job performance—particularly in emerging economies such as India and South report highlights how countries like China and Spain are prioritising fairness and transparency in revealing algorithmic patterns. Recently, the United States introduced the Algorithmic Accountability Act 2023 to regulate the use of personal data and automated intensive monitoring initially drives efficiency, reduces labour costs and offers clearer productivity benchmarks, the report warns that within six months, many organisations experience rising resignation rates and employee complaints of being treated in a 'robotic' challenges HR leaders to think not just about productivity, but also about the responsible design and governance of AM Gorur, Head - HR, Fujitsu India GDC, said no algorithmic outcome is directly applied at Fujitsu; every recommendation passes through a neutral panel that evaluates its impact holistically across employee experience, fairness and contextual relevance.'We believe in using data to make life better for our people, not to box them into one-dimensional outcomes. Strategic communication channels, ranging from dashboards to manager-led conversations, ensure employees understand both the intent and the implications of data-driven insights,' Gorur Pande, Group CHRO, Sterlite Electric , mentioned advanced analytical methods such as Regression Analysis to identify key competencies that shape leadership effectiveness alongside team performance. These insights support the company in designing sharper development journeys and succession further emphasised, 'Tools like Amber enrich our understanding with its AI-powered conversational interface that shares authentic employee sentiment and flags emerging issues, allowing our leaders to act proactively and empathetically.'Pande said that at Sterlite Electric, all AI-generated insights are reviewed within a 'human-in-the-loop' framework, supported by fairness audits and constant reviews.'Decisions on promotions, performance or scheduling always remain with our people leaders, backed by context and compassion. Finally, we have created both formal and informal mechanisms for employees to raise concerns or appeal decisions, which ensures that data becomes a tool for dialogue, not a final decision,' added Bhattacharyya, Chief Talent Officer, RPG Group , expressed a similar view. He said, 'RPG has consciously chosen not to use AI in performance evaluations or promotion decisions.''These are high-stakes, career-impacting calls that require context, judgement and a level of human discretion that AI simply doesn't offer today,' said Sterlite Electric, employees are clearly informed—not only about what data is collected and when, but also why.'We obtain explicit consent every time their data is used, and at any point, employees are empowered to manage their own profiles: they can view, update or delete their information, and no one can access anyone else's private data without permission,' said Fujitsu, employee data are collected to enhance wellbeing, improve personal experiences and promote fairness, said Gorur.'Importantly, we do not use data to micromanage but to identify opportunities that help employees grow and thrive. We complement this with digital ethics education so employees feel empowered, not monitored,' claims Gorur.
Time of India
2 days ago
- Business
- Time of India
Women's participation in formal workforce up 18.4% in 4 years: Minister
Advt Advt Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. All about ETHRWorld industry right on your smartphone! Download the ETHRWorld App and get the Realtime updates and Save your favourite articles. New Delhi: The participation of women in the country's formal workforce is constantly increasing and as per the latest data, the estimated Labour Force Participation Rate (LFPR) on usual status for female of age 15 years and above has increased from 23.3 per cent in 2019-20 to 41.7 per cent in 2023-24 - a robust growth of 18.4 per cent -- the Parliament was informed on Provident Fund Organisation (EPFO) Payroll Data indicates the level of employment in the formal sector. During 2024-25 alone, 26.9 lakh net female subscribers were added to the Employees' Provident Fund Organisation (EPFO), underlining a shift towards formal employment, Minister of State for Labour and Employment, Shobha Karandlaje, said in a written reply to a question in the Lok government is implementing various schemes to boost the female LFPR, like Pradhan Mantri Mudra Yojana (PMMY), Pradhan Mantri Kaushal Vikas Yojana (PMKVY), Stand-UP India Scheme, Startup India, Prime Minister's Employment Generation Programme (PMEGP), Women in Science and Engineering- KIRAN (WISE-KIRAN), SERB-POWER (Promoting Opportunities for Women in Exploratory Research), Mission Shakti, Namo Drone Didi and Lakhpati Didi, among addition, the Union Cabinet has approved the Employment Linked Incentive (ELI) Scheme to support employment generation, enhance employability and social security across all sectors, with special focus on the manufacturing to the minister, a number of protective provisions have been incorporated in the labour laws for equal opportunity and congenial work environment for women workers. The Code on Social Security, 2020 has the provisions for enhancement in paid maternity leave from 12 weeks to 26 weeks, provision for mandatory creche facility in the establishments having 50 or more employees, permitting women workers in the night shifts with adequate safety measures, Ministry of Women and Child Development is implementing 'Palna' component under Mission Shakti for all States/UTs, under which providing day care facilities and protection of children is the main focus area. Under Palna, Ministry has extended free services of childcare through Anganwadi cum Creches (AWCC).--IANSna/
Time of India
3 days ago
- Business
- Time of India
Amid layoff news, TCS requests employees for support to 'build a future ready organization'
Advt Labour Ministry summons TCS over onboarding delay of 600 lateral hires A letter issued by the office of the Chief Labour Commissioner (Central), addressed to the Chairman and Managing Director of TCS, has asked the company to appear for a joint discussion on the matter on August 1, 2025. ETHRWorld has seen a copy of the letter. See More Details Advt By , ETHRWorld Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. All about ETHRWorld industry right on your smartphone! Download the ETHRWorld App and get the Realtime updates and Save your favourite articles. As information technology (IT) giant Tata Consultancy Services (TCS) plans to shed 2 percent of its global workforce of more than 6 lakh employees, the Tata Group company has reached out to its employees, requesting support to 'build a future ready organization'.In an internal message issued to all employees on a common platform, TCS said the company is on a journey to become a future-ready organization, this includes strategic initiatives on multiple on Sunday announced that it will layoff around 12,000 employees, primarily in the middle and the senior grades, over the course of the year. This is in light of skill mismatch, CEO K Krithivasan said.'...including investing in new-tech areas (Al and Data, Cybersecurity, Cloud, loT and Enterprise Solutions), entering new markets, deploying Al at scale for our clients and ourselves, deepening our partnerships, creating next- gen delivery and innovation infrastructure and realigning our workforce model,' the message reads. ETHRWorld has seen the internal message.'Towards this, a number of reskilling and redeployment initiatives have been underway. As part of this journey, we will also be releasing associates from the organization whose deployment may not be feasible…..We are on a journey to build a stronger TCS for our associates, clients, and all other stakeholders. Let us come together to support each other as we build a future ready organization and accelerate our growth momentum,' the message Pune-based IT union Nascent Information Technology Employees Senate (NITES) has filed a formal complaint with the Labour Ministry, requesting for an "immediate cognizance of this development and issue notice to TCS seeking an explanation, and direct the company to immediately halt all terminations and reinstate affected employees". ETHRWorld has seen the copy of the letter.".....Most of those affected are mid and senior-level professionals who have served the company loyally for 10 to 20 years. The email was callously sent on a Sunday evening, without prior notice or any formal communication process in place. This mass layoff is not only unethical and inhumane; it is outright humbly request the Ministry an inquiry into the systemic pattern of forced exits, delayed onboarding, and unlawful retrenchments by TCS, and consider framing stricter safeguards for the IT sector, which currently suffers from lack of enforceable employment protections," the letter week, the Ministry of Labour and Employment has pulled up TCS following NITES' complaint over the onboarding delay of 600 experienced lateral hires. A letter issued by the office of the Chief Labour Commissioner (Central), addressed to the Chairman and Managing Director of TCS, has asked the company to appear for a joint discussion on the matter on August 1, 2025. ETHRWorld had seen a copy of the letter.
Time of India
7 days ago
- Business
- Time of India
Bangladesh Bank revokes new dress code amid controversy
Advt Advt Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. All about ETHRWorld industry right on your smartphone! Download the ETHRWorld App and get the Realtime updates and Save your favourite articles. Dhaka, Bangladesh's central bank on Thursday revoked a new dress code directive, three days after its human resources department created a controversy by asking employees - especially females - to dress in 'modest and professional' HR department of the Bangladesh Bank had also warned that failing to comply with the order could lead to disciplinary action."This instruction has been completely revoked," Bangladesh Bank spokesman Arief Hossain Khan told reporters to the official, Bangladesh Bank governor Ahsan H Mansur , currently on a tour abroad, ordered the directive to be withdrawn immediately as the issue came to his knowledge through media also said the previous decision was taken in the respective departmental meetings to advise all levels of officials and employees working at Bangladesh Bank to wear professional and elegant clothes during office hours considering social he maintained, no policy decision was taken or no circular was issued in this acknowledged the decision virtually angered the governor and was revoked as per his the now revoked order male staff were directed to wear formal shirts with long or half sleeves, along with formal trousers and shoes while wearing jeans or gabardine trousers was directive asked all women to wear saree, salwar-kameez with orna, or any other plain, modest, professional-coloured outfit along with simple headscarves or hijab and formal sandals or central bank order had debarred the women from wearing short-sleeved or length dresses and leggings."Officials and employees of all levels must dress modestly and professionally, in line with the country's social norms," the directive the ouster of prime minister Sheikh Hasina in August last year, Islamist parties have increased their influence in Bangladesh.
