Corporate News

Report: Indian startups reduce full-time hiring by 61%

November 18, 2022
The Wellness Tribe Team
Report: Indian startups reduce full-time staffing by 61%

India is experiencing severe hiring cutbacks, according to a recent study released on Monday, showing that permanent staff recruitment has decreased by 61 percent over the last 12 months.

From October 2021 to September 2022, data were collected from more than 25,000 Indian workers working at more than 1,000 companies in 20 different industries.

A recent report from Razorpay's business banking platform RazorpayX Payroll reveals a 1,300% decline in hiring for chief experience officers (CXOs).

Due to the changing dynamics of the startup environment, employment trends have changed significantly over the last year.

The Indian startup ecosystem has proven to be robust and adaptable despite recent challenges. Taking macro forces into consideration, entrepreneurs have formed smaller but more powerful teams to maximize their workforce. Many businesses are cutting their workforces in the midst of the financial winter.

Indian Startups Cut 61% off Permanent Hiring: Razorpay Report
Photo by Clem Onojeghuo on Unsplash

Another report from my back-of-the-envelope assessment indicates that startups and major tech firms have laid off more than 5,000 Indians in the last month. 

According to some predictions, the Indian economy is anticipated to lay off 16,000 workers by the end of 2022. It seems nobody's job is safe, not even at global behemoths like Twitter or Byju's.

Even though there was a decrease in hiring, the total wage paid to full-time employees increased by 64.7%. It was noted in the survey that the increase in income, particularly among the highest-paid professionals, is not distributed equally between the sexes.

Although employment has declined overall, technology hiring appears to have been the least affected. Technology-related occupations have managed to slightly boost their contributions to the total workforce by 4%, even though the hiring trend has generally slowed down.

A Look at the Gig Economy

It is apparent that companies prefer gig workers over permanent employees as the number of permanent employees has declined. The number of payments made to gig workers has grown by 153% since October 2021. A semi-gig worker model is now being used by 15% more businesses than it was previously.

According to the survey, the majority of semi-skilled gig workers employed by startups earn less than Rs 20,000 per month, followed by those who earn between Rs 20,000 and Rs 40,000.

Interestingly, these employees have among the weakest growth rates, averaging 26% and 52%, respectively.

Research shows that competent gig workers with earnings between Rs 85,000 and more than Rs 150,000 have experienced the fastest growth over the last year, even though they contribute the least to the overall pool.

Corporate wellbeing

Dozy at Work: 60% of Indian Employees Report Sleep Deprivation

March 24, 2023
Mohit Sahni
Dozy at Work: 60% of Indians Report Sleep Deprivation

Sleep deprivation is a pervasive problem across India, with nearly two-thirds of Indians reporting feeling dozy at work and over a third suffering from insomnia, according to the Great Indian Sleep Scorecard 2023. 

The report, conducted by sleep solutions provider Wakefit.co, sheds light on the sleep patterns and trends of Indians, highlighting the detrimental impact of sleep deprivation on employee productivity, health, and well-being.

In recent years, sleep disorders have become increasingly common in India, with many attributing the rise to stress, anxiety, and the proliferation of digital devices. The high prevalence of sleep deprivation among Indian employees has serious implications for workplace productivity and the overall health and well-being of the workforce. 

In this article, we will discuss the issue of sleep deprivation in India, as highlighted by the Great Indian Sleep Scorecard 2023, and offer tips for HRs on how to address this issue in the workplace.

Awake in a Sleepy Nation

The Great Indian Sleep Scorecard 2023 highlights a growing sleep crisis in India, with over 60% of Indians reporting feeling dozy at work and over a third suffering from insomnia. 

Here are some of the key findings related to the sleep crisis in India:

Late Nights and Digital Devices

Despite the need for healthy sleep habits, over 70% of Indians retire only after 11 p.m. - way past the ideal bedtime of 10 p.m. Furthermore, a whopping 88% of Indians admit to using their phones until just before bedtime, leading to disrupted sleep patterns and reduced sleep quality. 

The late-night scrolling of social media and other digital devices has become a major cause of sleep deprivation and fatigue among Indians.

High Sleep Debt and Excessive Daytime Sleepiness

Indian workers are suffering from high sleep debt, leading to excessive daytime sleepiness and reduced productivity. Over 49% of Indians report feeling un-refreshed upon waking up, while 53% feel sleepy at work. 

The impact is even more pronounced for women, with 67% reporting sleepiness at work compared to 56% of men.

The Impact of Stress and Anxiety

Stress and anxiety are major contributors to the sleep crisis in India. Over 31% of Indians report waking up in the night to worry about their future, while 35% suffer from insomnia. 

The fear factor and stress overload have become major concerns for employees, leading to poor sleep quality, fatigue, and burnout.

The sleep crisis in India has serious implications for employee health, well-being, and productivity.

A Wake-Up Call for HRs

As the sleep crisis in India continues to grow, HR managers have a critical role to play in promoting healthy sleep habits and creating a supportive work environment that prioritizes employee well-being. Here are some tips for HRs to address sleep deprivation in the workplace:

Promote Healthy Sleep Habits

HRs can promote healthy sleep habits by providing resources and support to employees. Encourage employees to set a regular bedtime, minimize exposure to digital devices before bed, and create a calming sleep environment. 

Consider offering workshops, seminars, or online resources to help employees learn about healthy sleep habits.

Create a Supportive Work Environment

Creating a supportive work environment that prioritizes employee well-being is essential to addressing sleep deprivation in the workplace. Consider offering flexible work arrangements, such as remote work options or flexible schedules, to help employees balance work and personal responsibilities. 

Encourage breaks throughout the day, and consider creating designated nap rooms or relaxation spaces to help employees recharge.

By prioritizing employee well-being and promoting healthy sleep habits, HRs can help employees overcome the sleep crisis in India and improve their overall health and productivity. 

Snooze to Success: The Importance of Corporate Wellness Programs

Corporate wellness programs can play a critical role in addressing sleep deprivation in the workplace. By offering evidence-based strategies and expert guidance, wellness programs can help employees build healthy sleep habits and improve their overall well-being. 

Here are some examples of how corporate wellness programs can address sleep deprivation:

Sleep Education and Training

Wellness programs can offer workshops, seminars, and online resources to help employees learn about healthy sleep habits and strategies for improving sleep quality. 

These resources can cover topics such as setting a regular sleep schedule, creating a calming sleep environment, and minimizing exposure to digital devices before bedtime.

Stress Management and Mental Health Support

Stress and anxiety are major contributors to sleep deprivation, so wellness programs that offer stress management and mental health support can help employees manage these issues and improve their sleep quality. 

Programs may include mindfulness training, counseling services, or resources for managing work-related stress.

Fitness and Nutrition Programs

Physical activity and nutrition can also play a role in promoting healthy sleep habits. Wellness programs that offer fitness classes, healthy eating seminars, or nutrition coaching can help employees improve their overall health and well-being, leading to better sleep quality.

With our experience in creating customized wellness programs based on the unique needs of Indian workers, The Wellness Tribe can help HR professionals address the sleep crisis in India. HRs can improve their employees' health and well-being by partnering with The Wellness Tribe.

Rise and Shine

The impact of sleep deprivation on employee productivity, health, and well-being is significant, making it essential for HR managers to take action to address this issue. Healthy sleep habits, a supportive work environment, and a corporate wellness program can help HRs help employees overcome the sleep crisis.

At The Wellness Tribe, we are committed to helping HR managers tackle the sleep crisis in India by offering evidence-based strategies and expert guidance to create customized wellness programs that meet the unique needs of their workforce. 

By partnering with us, HRs can take a proactive approach to promote healthy sleep habits, managing stress, and improve employee well-being. Together, we can create a healthier and more productive workforce.

So, take the first step to a healthier, happier, and more productive workforce today. Contact The Wellness Tribe to learn how we can help you implement a customized corporate wellness program that meets your organization's unique needs.

Occupational Wellbeing

The Great 4-Day Workweek Experiment: 33 Companies Say Yes To Fridays Off

February 12, 2023
Mohit Sahni
The Great 4-Day Workweek Experiment: 33 Companies Say Yes To Fridays Off

Picture this: It's Friday afternoon, and instead of counting down the minutes until the workweek ends, you're actually looking forward to a long, relaxing weekend. No more working on Fridays - that's right, it's time to swap the 9-to-5 grind for a 4-day workweek. And the best part? You'll still get paid the same amount.

Sounds too good to be true? Well, the results of a recent six-month experiment by 33 companies organized by 4 Day Week Global say otherwise. The trial, which took place in six countries, aimed to see if employees could work just as efficiently 80% of the time. And the results showed the resounding success of the 4-day work week: companies reported increased revenue, improved employee well-being, and even a positive impact on the environment. 

So, if you're looking to convince your boss to make the switch, the evidence is here - the 4-day workweek is the real deal.

The Skeptics

The Great 4-Day Workweek Experiment:  33 Companies Say Yes To Fridays Off
Photo by Ant Rozetsky on Unsplash

At the beginning of the journey, the idea of a condensed work week at Soothing Solutions sparked a barrage of skepticism and uncertainty among the workforce. Employees pondered the practicality and profitability of such a change. 

However, as the trial progressed, the tide of doubt began to shift, and the company's founders found themselves with no worries about the impact on business growth. The benefits of a shorter workweek were palpable, and the skeptics were quickly won over.

The Push for a Four-Day Workweek

The four-day workweek is no longer just a pipe dream; it's a growing movement. With successful trials at companies like Bolt, positive results reported in Iceland, and a 2019 Henley Business School research paper, the push for shorter work weeks is gaining momentum. 

The trend is a response to the "Great Resignation," a shift in how employees view their work-life balance and a desire to reevaluate the traditional work model. Despite some pushback from skeptics, the four-day workweek is quickly proving its worth and paving the way for a new way of thinking about work.

No Downsides

The Great 4-Day Workweek Experiment:  33 Companies Say Yes To Fridays Off
Photo by Brooke Cagle on Unsplash

For nearly a century, the 40-hour workweek has been the backbone of the American labor force. But like any rigid structure, it's time for a change, and companies like Rent a Recruiter are leading the charge with their participation in the four-day workweek trial. 

This shift towards more flexible work arrangements is not the first time the traditional model of work has been disrupted. In 1926, Henry Ford reduced the workweek to five days; in 1940, the Fair Labor Standards Act set the standard at 40 hours. 

And now, with the Great Resignation and a desire to rethink the traditional 9-to-5 grind, the movement towards a four-day workweek is gaining momentum, with successful trials at companies like Bolt and positive results highlighted in the 2019 Henley Business School research paper. This trend towards a shorter workweek may just be the mold-breaking change the workforce needs to balance work and life.

"The future of work is less about the number of hours worked and more about the impact made." - Sarah Robb O'Hagan 

The Results

The 4 Day Week Global trial results were nothing short of revolutionary. As the dust settled, it was evident that the four-day workweek had not only unlocked the potential for increased revenue but it had also unleashed a wave of benefits for employees and the environment.

Gone were the long, dreary workweeks that sapped the energy and morale of employees. In their place, a renewed sense of purpose and vitality as workers reveled in the newfound freedom of an extra day off. Health and well-being improved as individuals were able to focus on self-care and recharge their batteries.

The four-day workweek is no longer a pipe dream; it's a reality. With 100 more companies already considering or implementing the approach, it's time for your company to break free from the constraints of the traditional workweek and join the ranks of trailblazers like Rent a Recruiter. So, pack up your briefcase and enjoy your weekends because it's time to stop working on Fridays (or Mondays).

Inference

In conclusion, the four-day workweek is not just a whimsical notion; it's a well-tested and proven solution that has brought countless benefits to companies and employees alike. The advantages are clear for all to see, from improved well-being and increased revenue to a more sustainable future. 

So, why not make the leap and join the growing cohort of forward-thinking companies who have said goodbye to their boring, outdated workweeks and hello to a brighter, more productive tomorrow? It's time to experience the magic of a four-day workweek and embrace the gift of three glorious days off. Say yes to Fridays off! Do you have any more ideas to increase productivity while still maintaining a work-life-balance? Get in touch with us and we will help you get the word out.

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