Auto Inc. keeps tech talent in demand as big tech companies continue with large-scale layoffs - 31st March 2023

Auto Inc. keeps tech talent in demand as big tech companies continue with large-scale layoffs - 31st March 2023

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• April 04 21:26:00, 2023

Auto Inc. keeps tech talent in demand as big tech companies continue with large-scale layoffs

  Contents News/Article Date:  31st March 2023 Relating to which Act: The Indian Constitution grants the Central and state governments the powers to enact laws to protect the employees and foster a professional work environment. Based on the industry, nature of the work, number of employees in the company, location, and more, there are various legislations like the Industrial Disputes Act 1947 (ID Act), Factories Act 1948 (Factories Act), and Shops and Establishment Acts in relevant states (S&E Act).   Applicable to which State: Acts and Rules are applicable to all States Type: ET news report    Pertains to: Establishments and Employees in all types of Organizations running businesses for profit or non-profit   Relevance of this news:  Karma Global is in the business of HR Services, Payroll, Outsourcing, and Regulatory Compliances right from its inception in 2004 since then, has brought in a lot of efficiencies and technological upgradations with experts on its role, to ease the hassles of Payroll Processing, Temp Staffing, On-boarding, Employee Life Cycle, Statutory, Regulatory, and Payroll compliances by providing customized solutions to all its elite clients. Now Karma Global is also fully into labour compliance for nearly 18 years and is helping both establishments and workers for the fulfillment of obligations as per the laws of the land.  It has over 200 staff, both direct and indirect on its rolls and operates on Pan India basis.  Recently, it has diversified into foreign shores as well, into countries like the US, UK, UAE, Canada, and South East Asia for handling payroll, outsourcing, recruitment, compliance, and governance. Karma Global handles the obligations of all provisions contained in the labour acts and rules. Employees are entitled to several benefits under the Employment Act, including annual paid leave, sick leave, maternity benefits, paid public holidays, etc. Employers must ensure that they meet all of the Act's standards and that the contract conditions reflect this. Businesses must comply with the following requirements of the Act in particular:

• Minimum wage
• Maternity benefits
• Revision of wages
• Safer work environment
• Adaptive work culture
• Issuance of employment contracts
• Social contributions
• Health care and insurance
• Holidays and annual leave
• Termination, severance pay, grievance handling, redressal

And in this instance:  Increasing demand for tech talent in the automotive sector is turning out to be a boon for IT employees who have been hit by a spate of layoffs across big technology companies such as Google, Microsoft, and Amazon in recent months. Automakers including the top three, Maruti Suzuki, Hyundai Motor, and Tata Motors said they expect an upswing in hiring across multiple functions including engineering, electric and electronics, product development, and operations management in the next few months amid sustained demand, pervasive technology applications, and progressive investments to accelerate capacity build-up. Subject:  Auto Inc. keeps tech talent in demand as big tech companies continue with large-scale layoffs  

Appended is the complete news item

Auto Inc. keeps tech talent in demand as big tech companies continue with large-scale layoffs

 

Source: ET Bureau

Increasing demand for tech talent in the automotive sector is turning out to be a boon for IT employees who have been hit by a spate of layoffs across big technology companies such as Google, Microsoft, and Amazon in recent months. Automakers including the top three, Maruti Suzuki, Hyundai Motor, and Tata Motors said they expect an upswing in hiring across multiple functions including engineering, electric and electronics, product development, and operations management in the next few months amid sustained demand, pervasive technology applications, and progressive investments to accelerate capacity build-up. This will further boost the flow of tech talent into the auto sector which has increased in the last few quarters, HR experts said. With tech companies resorting to downsizing manpower the last few months, “in the last two quarters there is a significant improvement” in the supply of tech talent, said the director (of general staffing) at staffing and recruitment services firm Adecco. This is a boon, especially to the automobile industry that is witnessing disruptions on account of the advent of connected, electric, and autonomous technologies, experts said. Most auto companies are adapting digitalization in product design and engineering, “There is a constant increase in demand in the field of mechatronics, Autosar (Automotive Open System Architecture), battery management, AI (artificial intelligence) and ML (machine learning), robotics programming, product design, and development skills,” she said. Tata Motors – which has integrated workforce planning with strategic business planning for its passenger vehicle business – expects Tata Motors – which has integrated workforce planning with strategic business planning for its passenger vehicle business – expects an upswing in hiring across multiple functions in the next few months in line with its growth trajectory. Currently, we are looking at hiring engineering talent with relevant domain experience,” said the chief human resource officer of Tata Motors. “Good communication skills and adaptability to the fast-changing needs of the auto sector is a desirable skillset.” The country’s top carmaker Maruti Suzuki is looking at hiring about 1,000 personnel from campuses alone across technical and management profiles in 2023-24. “A lot of work around new technology introduction and digital transformation is happening across the organization for which we require talent and new skills,” said a member executive board-HR at Maruti Suzuki India Ltd. Korean auto major Hyundai, too, plans to recruit a mix of young and lateral talent equipped with new-age experiential skills that focus on technology. The roles open includes those for data scientists to artificial intelligence and application software engineers, developers, designers, and user experience consultants. “While engineering and management backgrounds are the lookout streams at the campuses, there are three different areas of expertise or experiences we are focusing on while hiring talent with experience – new-age experiential skills focused on technology, transformational competencies, and behavior-driven skills that fast-paces transformation and influences business results,” said group head (human resources) at Hyundai Motor India. Automotive Skills Development Council (ASDC) anticipates hiring to be 30% higher compared to the last few years for the industry, said the CEO of Quess IT Staffing. This surge in hiring demand may lead to increased salary hikes this year, he said. “We anticipate a hike of 8-10% for manufacturing and plant employees and 12-15% for engineering, R&D, and technology applications.” Sivaram said niche skills will command a larger increment. Passenger vehicle sales in the local market are expected to maintain strong double-digit growth after a robust FY23 when total sales may be just shy of 4 million units. Given the growth potential, companies including Maruti Suzuki, Hyundai, and Renault-Nissan have announced fresh investments in the country to fast-track product interventions and expand capacity here.