Time to stop Employee Farming!

#Twitter handle in Nov 2022 tweeted: "bye literally everyone"!

Elon's tweet confirmed that this action was needed as #twitter was loosing $4million/day.
Twitter laid off 180 of 230 staff in India in round one and many of the remaining in quick second fiat!
In fact, twitter fired in successive rounds in early April 2023, clocking 83% of total staff it had at it's peak, before Elon bought it!
Industry experts blamed big tech players of indulging in, something called "EMPOYEE FARMING"!
Despite massive winter cleaning, twitter aka X is doing fantastic, in fact faster and better than earlier as some tech analysts confirmed recently.
This reform and fine tuning sent shock waves to peer group players like Meta, Google and in general to MAANG companies.
No wonder, Josh Bersin in his brilliant report claims, the clear focus is NOT hire, hire, hire but tune, tune, tune!
Xpheno in it' statement today mentioned that all top Indian IT services companies have shrunk staff sizes back to early 2022 levels...
What does your "Employee Farm" look like? Don't be in denial, tune, tune, tune...:)
Meta (Facebook) had 86,482 employees at year-end 2022. The company announced in January that over the last 18 months they reduced staff by 22%, while Q4 revenues went up 25% in Q4 (total revenue is now $140 billion). This translates to $1.9 million per employee, one of the highest financial productivity measures in the software industry. To give you an example, Workday’s revenue per employee is around $230K, Oracle’s is $378K, and Microsoft’s is $863K, and Google is around $1.6M.
https://lnkd.in/eegvPE3D

Comments

What is The Hay Group Total Reward Framework

The Hay Group Total Reward Framework A new way of understanding reward Reward strategies must be anchored in business reality to be effective. Which means linking it to your business strategy – and the needs of your employees as well as your organisation. Our Total Reward Framework helps you optimise reward, no matter how challenging the conditions. The issue Remuneration tends to be one of the worst-managed parts of an organisation’s cost structure. But with 10-70 per cent of total costs wrapped up in it, reward cannot be ignored, particularly in a downturn. To be effective, reward programmes must reflect the needs of the business, now and in the future. Only if they are tied closely to company strategy, business performance and the needs of employees can reward programmes deliver the ROI that is needed in tough times[MK1] . The Hay Group Total Reward Framework takes strategy as a starting point – and it focuses on total reward: every financial measure together with no...

Aon Hewitt Total Rewards Framework

Aon Hewitt Total Rewards Framework The Aon Hewitt model and approach believes in considering Total Rewards as a business tool and very much linked to overall business objectives! Reward as understood is a very complex mechanism and some efforts of correcting the base pay and titling in a hurry by many MNCs in India have done a bigger crime by trying to correct it by market adjustments without looking at the talent map, complexity and expectations out of role and mapping it against the benchmark. Titles in India are a big misnomer and hardly any survey on compensation ever probes and captures and calibrates the tangible outcome based bench marking! If we dive deep, we will find that the key factors of Education, Experience and Quality of Education, Quality and relevance of experience and education are not calculated granular! A diploma holder technical manager gets the salary benchmarked for the top T-school manager with top quality experience in a challenging and break-through...

Why Organizations are so BAD at Talent Management? A curious case below..

Founded in 2019 in South San Francisco, ProcDNA has grown 2x in 24 months....from 100 to 200 as of Feb 25th as you see the snapshot below. I was looking at their India staff data looking actively for jobs as evident on Naukri.com, a leading job portal in India. For past 30 days, 39 staff in India looking out actively. If you check for past 2 months, this number inflates to 49. Median tenure of staff here is 8 months. What interests me are the following: 27 jobs posted on LinkedIn and 9 out of them are just repetitions. Same job posted many times (5x at times). There is only 1 Director level job is up there as far as senior open roles are concerned. Many jobs have titles like Senior/Associate/Assistant Engagement Lead, etc. Below are 4 senior staff in key roles who are active on Naukri.com , looking for next job. What's wrong here? Nothing....they are just looking out...:) ....But that's a self fulfilling thought, right, especially when you are the co...

Reflections: the stoic way!

Search This Blog