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.

Physical Wellbeing

A big workout once a week is just as good as daily exercise!

December 24, 2022
The Wellness Tribe Team
One big workout once a week is just as good as daily exercise!

As a physiotherapist, I often hear from my patients that they do not have time to exercise every day, whether during corporate wellness sessions or during individual sessions. With busy schedules and a never-ending to-do list, it can be tough to fit in a daily workout. But here's the good news: you don't have to exercise every day to be healthy! In fact, one big workout every week is just as effective as exercising daily.

Testing Your Limits

Now, I know what you're thinking. How can one intense workout per week be as effective as daily exercise? The key is pushing yourself to your physical limits during that workout. When you challenge your body with a high-intensity workout, you are giving your muscles and the cardiovascular system a much-needed workout. 

This kind of intense exercise has a greater impact on the body than moderate exercise, so even though you're only working out once a week, you're still getting a good workout.

The Connection Between Exercise and Mental Health

The Connection Between Exercise and Mental Health
Photo by Victor Freitas on Unsplash

One big workout per week has numerous benefits. Exercise that is intense and regular can improve your mental health. Exercise releases endorphins, which are chemicals in the brain that promote feelings of happiness and emotional well-being. You can boost your mood and reduce stress by engaging in a challenging workout once a week.

Another benefit of one big workout per week is that it can help you avoid burnout and injury. Overdoing it with daily exercise can lead to fatigue and a higher risk of injury. By allowing your body to rest and recover in between workouts, you can prevent burnout and keep your workouts safe and effective.

Now, I want to be clear that the one big workout-per-week approach isn't for everyone. If you have specific fitness goals, such as losing weight or training for a marathon, you may need to incorporate daily exercise into your routine.

A Few Precautions

One Big Workout a Week: The Surprising Health Benefits According to a Physiotherapist
Photo by Victor Freitas on Unsplash

Additionally, if you are new to exercise or have chronic health conditions, it is important to consult with a healthcare provider before starting any new fitness routine.

But for the majority of people, one big workout per week is a great way to maintain a healthy lifestyle. So next time you're feeling overwhelmed and don't think you have time for daily exercise, remember that one big workout per week is just as effective. And who knows, you might even find that you enjoy it more than daily exercise! 

"Exercise is a celebration of what the body can do, not a punishment for what you ate." — Kevin NG. 

So grab your sneakers and get moving – your body (and mind) will thank you.

Closing Thoughts

Overall, the key takeaway is that consistency and effort are more important than the frequency of workouts. As long as individuals are able to regularly engage in physical activity that challenges their bodies and promotes overall wellness, they can experience the numerous benefits of exercise regardless of how often they do it.

Emotional Wellness

Embracing Change: The Shift from IQ to Adaptability Quotient

November 16, 2022
Aakriti Agarwal
Embracing Change: The Shift from IQ to Adaptability Quotient

One of the most famous phrases attributed to Albert Einstein is, "The measure of genius is the ability to change." It is more accurate than ever in today's swiftly changing world.

Change is unavoidable, and we must be prepared to navigate it successfully. And, like so many other things, change may travel in both positive and harmful directions. We are practically sure to experience disaster and failure if we fail to manage the stormy seas of change in the proper way.

We will surely grow more clever, insightful, and adaptable as we learn to maneuver through life's changes. To thrive in life and conquer the challenges that come your way, you'll need perception, assessment, and adaptability. When presented with a difference, intelligence is tested by making adjustments and changing subsequent actions accordingly.

When we change, we develop and become wiser in the process. Humans generally thrive on change and expansion, but they might have many inner or outward factors to change.

Trying to maintain everything the same is not only unhealthy but also impossible. You are misinterpreting human traits and thriving if you avoid change.

Adaptability and Workplace

Embracing Change: The Shift from IQ to Adaptability Quotient
Photo by Brett Jordan on Unsplash

The way we work, live, and interact with one another is changing dramatically. Unprecedented rates of change have emerged from extraordinary technological developments in automation and artificial intelligence, disruptive innovation, and globalisation. As a result, leaders in the business sector are continually rethinking how their companies create value and stay relevant in an unpredictable climate. 

Furthermore, the future of employment is continuously evolving. Technological improvements have decreased the expiry date of staff talents to the point where a typical corporate capability is only relevant for 4.2 years, down from 30 years in 1984. According to the World Economic Forum, 65 per cent of present employment will be obsolete by the time today's primary school students reach the workforce.

What is the adaptability Quotient?

The capacity to decide what is relevant, discard obsolete information, overcome hurdles, and respond to change in real-time is known as the Adaptability Quotient (AQ). Those with a high AQ exhibit the following characteristics:

  • Open-mindedness. They actively manage their unconscious prejudices to remain receptive to new ideas.
  • They go out of their way to perceive things from other people's viewpoints.
  • They place a high value on acquiring new skills and investing in their education to better prepare themselves for an unpredictable future.

Adaptable leaders and staff are better suited to meet their company's changing and growing demands – and they're in great demand.

"Adaptability is the quality that distinguishes the survivor from the perished." - Charles Darwin

How can adaptability be developed?

Years of practice responding carefully to problems as they emerge are required for adaptability. You have the power to influence your team and propel your company ahead as a leader. Adaptability, like emotional intelligence, may be increased and enhanced.

  • Model the high-AQ behaviour you want your workers to emulate. For example, leaders who adopt the pacesetting leadership style may increase their team's AQ by displaying flexibility and encouraging team members to alter and update their abilities. This will aid in the creation of a stress-resilient and change-adaptive environment.
  • Take charge of your educational path. Recognise the importance of continuing your education. Assume responsibility for your education, and you will increase marketability for years to come.
  • Decide which positions you want to pursue depending on how much you can learn. Then, make future opportunities to learn critical new skills a priority.

What is agile, and how is it more effective in bringing adaptability to you?

The three pillars of Agile are quality, speed, and value. It encourages people to risk discovering new ideas and developing them with the least amount of danger possible. It's a cycle that starts with an idea and ends with a worthwhile result. It encourages people to take the risk of generating new ideas and developing them with the slightest danger of failure. 

A group of people may work together to develop an idea, correct errors, and make it worthwhile. The possibilities are designed, and duties are shared after the concept is conceived. As a result, more than one team would be working on the idea, each with their skill level in a specific area. If a mistake occurs, only the team assigned to it will reprogram it, saving time and energy for the others.

Three tips to help you develop the mindset to adapt to change: 

Three tips to help you develop the mindset to adapt to change
Photo by Nataliya Vaitkevich

Recognise change

One of the most challenging aspects of the process is recognising and embracing change—one of the first things we do as humans are to deny reality. As a result, we frequently ignore the shift to avoid dealing with it, or so we believe. But, on the other hand, denying or postponing this problem may make it worse and more unpleasant than just embracing it from the outset. 

It's critical to acknowledge that change is occurring and to attempt to emotionally and, if possible, physically prepare ourselves for it! Recognising and embracing change is a crucial part of the transformation process.

Maintain a positive attitude

Consider the change in a good light. Rather than focusing solely on the bad, write or speak about why this change could benefit you and any other benefits that may result from it. In times of despair, being optimistic is crucial and an excellent tactic. In any scenario, there are positives, and it is up to you to locate them. 

Ignore your negative feelings about the shift and concentrate on the good, even if only for a short while. This upbeat outlook can assist you in getting through it!

Talk about it

Make a phone call to your best buddy. Speak with a member of your family. Speak with a therapist. It doesn't matter who you talk to, as long as you find someone you can trust and tell them everything. It's critical to express your feelings and discuss them with someone you can trust and rely on. It is a sign of strength, not weakness; to know yourself well enough to recognise that you require support is a sign of strength, not weakness.

This support system may also provide the tools you need to overcome or better adjust to the shift. They can also bring a fresh viewpoint to the problem, which may or may not be beneficial, which is also OK!

Conclusion

Remember, change is unavoidable, and it affects everyone! What distinguishes it is how you respond to the change. And don't be concerned if it takes you longer than someone else; you're all on your road! It takes time to adjust, but if you stay optimistic and open-minded, you will succeed.

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This month we are focusing on food and how it affects your mental health. Join us as we bring in the most relevant interesting content from across the wellness segment.

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