Wednesday, October 30, 2024

10% Of workers Hired This Year Have Job Titles That Didn’t Exist In 2000, Finds LinkedIn’s Work Change Snapshot


* 82% of business leaders in India say the pace of change at work is speeding up as demand for new roles, skills and technologies increases.

* 7 in 10 leaders in India are making it a top priority to adopt AI tools in 2025

* With increasing reliance on HR professionals to help businesses navigate changes in the workplace, LinkedIn is piloting new AI-powered tools to help HR teams focus on their most strategic and important tasks.

Workplace transformation is accelerating at an unprecedented pace, with new data from LinkedIn’s inaugural Work Change Snapshot showing that 10% of workers hired globally in 2024 hold job titles that didn’t exist in 2000. Roles like Sustainability Manager, AI engineer, Data Scientist, Social Media Manager, and Customer Success Manager are now commonplace.

Whether it’s companies rethinking pandemic-era policies around remote work, the emergence of new technologies, or the increased focus on sustainability, LinkedIn’s Work Change Snapshot reveals just how different modern workplaces look compared to just a few years ago. And the speed of transformation is only set to increase: in a study of more than 5,000 global business leaders, LinkedIn finds that 82% of leaders in India agree that the pace of change at work is speeding up.

Global business leaders recognise the transformative potential of Generative AI, with 9 in 10 in India reporting at least one way the technology could benefit their teams, and  7 in 10 making it a top priority to adopt AI tools in 2025. The benefits of embracing AI go well beyond increased productivity. LinkedIn data shows that employees proficient in Generative AI are 20x more likely to develop essential soft skills like professional networking, personal branding, design thinking and creativity, and emotional intelligence – key qualities that drive success in today’s competitive workplace. In fact, the top five LinkedIn Learning courses in India are focused on these critical soft skills, including Communication Foundations and Building Trust. The popularity of courses like Communication Skills for Modern Management and The Manager’s Guide to Difficult Conversations reflects a growing emphasis on these skills across seniority levels.

Ruchee Anand, India Head, LinkedIn Talent Solutions, said, “AI is transforming the workplace like never before. While nearly 82% professionals in India are feeling the impact of rapid change, it’s encouraging to see more companies committed to navigating this shift. As we look to 2025, businesses are increasingly prioritising AI adoption, alongside meaningful investments in upskilling and reskilling their people. Embracing AI is not just about keeping pace; it’s about empowering teams, fostering innovation, and creating resilient workforces ready to thrive. Now is the moment for organisations to champion AI, commit to skill development, and lead confidently into the future of work.”

LinkedIn announces new AI-Powered tools

As businesses race to keep up with a rapidly changing world, HR teams are increasingly relied upon to guide this transformation. In India, 69% of HR professionals report that expectations of them at work have never been higher. Additionally, 6 in 10 admit that experience alone is no longer enough to stay competitive, with over half acknowledging that career growth now depends on embracing AI.

Since the launch of Recruiter 2024, its first generative AI hiring experience, LinkedIn has helped hirers meet their goal of finding qualified candidates faster. To help HR teams focus on their most strategic, people-centric tasks, LinkedIn has announced the launch of new AI products and tools.

LinkedIn's first AI agent, Hiring Assistant, is designed to take on a recruiter’s most repetitive tasks so they can spend more time on their most impactful work—like advising hiring managers, connecting with candidates and creating exceptional candidate experiences. Starting today, recruiters can choose to delegate time-consuming tasks to the Hiring Assistant including finding candidates and applicant review. While recruiters will be able to spend significantly less time on these tasks, they will be in full control throughout the process. Hirers will be able to provide feedback on the candidates throughout the entire process, helping the Hiring Assistant to continuously learn each recruiter's preferences and become more personalised to each hirer. LinkedIn’s Hiring Assistant is available today in charter to a select group of recruiters - in Australia, Brazil, Canada, India, Mexico, Philippines, Singapore and the United States - from companies such as AMD, Canva, Siemens and Zurich Insurance. It will be rolled out to additional global customers over the coming months.

We’re also rolling out a new AI-powered coaching feature in LinkedIn Learning to help professionals practise their interpersonal skills through interactive scenarios using text or voice. The scenarios include practising how to deliver performance reviews, having conversations on work-life balance, and giving feedback to a colleague. LinkedIn is beginning to roll this out today to people who have LinkedIn Learning Hub accounts. Over the coming year, LinkedIn will roll it out to all global learners who have a LinkedIn Learning Hub account or LinkedIn Premium. Over the coming months, LinkedIn is also bringing AI-powered coaching to global audiences for the first time by enabling content discovery in German, French, and Japanese, so learners can find high-quality content in their preferred language library faster. 

LinkedIn has also expanded its LinkedIn Learning library to over 1,000 AI courses, and these three AI professional certificates for talent leaders are free on LinkedIn Learning through the end of year.

About LinkedIn:

LinkedIn connects the world’s professionals to make them more productive and successful and transforms the way companies hire, learn, market, and sell. Our vision is to create economic opportunity for every member of the global workforce through the ongoing development of the world’s first Economic Graph. LinkedIn has more than 1 billion members and has offices around the globe. www.linkedin.com

Methodology:

LinkedIn Executive Confidence Index: Global executive is defined as a VP+ level LinkedIn member who completed the ECI survey in the following 11 countries: US, UK, India, Canada, Australia, Germany, Italy, France, Spain, Netherlands, Brazil; %s vary by country.

LinkedIn Professional Sentiment Survey: LinkedIn’s latest global research was conducted by Censuswide and surveyed over 20,000 professionals across all industries aged 18-77 in the UK, USA, France, Germany, India, Australia, Brazil, the Netherlands, Singapore, KSA, and UAE between September 2–11, 2024.

Work Trend Index Survey: The Work Trend Index survey was conducted by an independent research firm, Edelman Data & Intelligence, among 31,000 full-time employed or self-employed knowledge workers across 31 markets between February 15, 2024 and March 28, 2024. This survey was 20 minutes in length and conducted online, in either the English language or translated into a local language across markets. One thousand full-time workers were surveyed in each market, and global results have been aggregated across all responses to provide an average. In the US, an additional sample of 2,800 full-time employed or self-employed knowledge workers was collected across nine sub-regions/metros. Global markets surveyed include: Argentina, Australia, Brazil, Canada, China, Colombia, Czech Republic, Finland, France, Germany, Hong Kong, India, Indonesia, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Philippines, Poland, Singapore, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, United Kingdom, United States, and Vietnam. Sub-regions/Metros in the United States surveyed include: Atlanta, Austin, Boston, DC Metro, Houston, New York City, North Carolina, Pittsburgh, and the San Francisco Bay Area.

Strong Quarter; Robust Outlook Remains Intact For Bharat Electronics


Rating: BUY | CMP: Rs270 | TP: Rs341

Q2FY25 Result update

Quick Pointers:

*     Order book as on 1st Oct’24 stood at Rs746bn (3.6x TTM sales), while order intake for the quarter was ~Rs23bn.

*     The management re-affirmed the guidance of ~15% revenue growth with 23-25% EBITDA margin and ~Rs250bn order intake for FY25.

We upgrade the rating to ‘Buy’ factoring in the recent sharp correction in stock price with an unchanged TP of Rs341. Bharat Electronics (BEL) reported strong quarterly performance with revenue growth of 14.8% YoY and EBITDA margins expanding by 514bps YoY to 30.3%. Opportunities in defense are expected to sustain for the next 5 years. The company is on track to meet its full-year order intake guidance of Rs250bn, including Rs85bn+ worth of order from programs such as Ashwini Radar, EW suite MI-17, ADFCR-ATULYA and Shakti Phase-4. QRSAM is in advanced stages of finalization and is expected to be awarded in Q1FY26, potentially adding another Rs250bn+ to the order inflow in FY26. Further opportunities are available in Uttam Radars for LCA Mk1A, artillery systems being developed by private players, naval products and Kavach for the Indian Railways. The company has streamlined LRSAM and other big-ticket items, leading to easing up of supply chain disruptions and better execution. Additionally, 85%-88% of the products supplied are indigenized, and further indigenization efforts are expected to drive margin expansion.

We remain positive on long-term growth story of BEL given 1) strong order backlog & order pipeline 2) diversification in newer business verticals like, hydrogen fuel cell, EV batteries etc., 3) focus on export markets (Egypt, Malaysia etc.) and 4) govt’s focus on product indigenization. The stock is currently trading at PE of 43.0x/35.7x on earnings of FY25/26E. We value the stock at a PE of 45x FY26E (same as earlier).

Gross margin expansion and higher other income drove PAT growth: Standalone revenue rose 14.8% YoY to Rs45.8bn (PLe: Rs47.0bn). Gross margin expanded by 449bps YoY to 53.4% (PLe: 45.2%). EBITDA grew 38.2% YoY to Rs13.9bn (PLe: Rs11.0bn). EBITDA margin increased by 514bps YoY to 30.3% (PLe: 23.4%) led by the gross margin expansion and employee cost leverage (down 68bps YoY as a % of sales). PBT grew 35.2% YoY to Rs14.5bn (PLe: Rs11.7bn). PAT rose 34.3% YoY to Rs10.9bn (PLe: Rs8.8bn) driven by the strong operating performance, despite lower other income (-2.2% YoY to Rs1.7bn).

Order book stands strong at ~Rs746bn (3.6x TTM sales): Order intake for the quarter stood at ~Rs23bn, including a major order worth Rs8.5bn from Cochin Shipyard for the supply of indigenous multifunction radar in X band. Other key orders include order from TRDS for manufacturing and supply of transmit/receive modules used in fighter aircrafts, orders for combat management systems, communication equipment, stabilized optronic pedestal, and navigational systems. Non-defense accounts for 11.4% of the total order book.

3F Oil Palm Pvt Ltd Signs MoU With “Karnataka Horticulture Dept To Empower Farmers Through Sustainable Cultivation Practices”


3F Oil Palm Pvt Ltd has strengthened its presence in Karnataka through a strategic partnership with the Karnataka Department of Horticulture by signing a Memorandum of Understanding (MoU) to advance sustainable agriculture in rural communities. The MoU was signed in the presence of Mr. Prakash M Sabarad, Additional Director of Horticulture, Government of Karnataka, paves the way for transformative support to oil palm cultivators in Udupi, Dakshina Kannada, and the Sedam taluk of Gulbarga district.

This partnership will provide farmers with access to advanced agricultural technologies, training programs, and essential resources to enhance productivity and support Karnataka’s growing horticultural sector. The company plans to introduce state-of-the-art cultivation practices, focusing on sustainable growth and community empowerment.

Speaking on the partnership, Mr. Srinivasarao Kilari, Head Agriculture, 3F Oil Palm Pvt Ltd said, “This MoU represents a major milestone, aligning with our mission to uplift local farming communities while setting new benchmarks for sustainable oil palm cultivation. We extend our gratitude to the Karnataka Horticulture Department for their vital support and look forward to collaborating closely with the farming community.”

As part of the initiative, 3F Oil Palm Pvt Ltd will oversee area expansion, nursery development, sprout procurement, and seedling cultivation within the designated zones. This effort aims to increase palm oil productivity, create economic growth, and empower farmers with sustainable knowledge, offering a model for long-term agricultural success in Karnataka.

Photo Captions: Sahana J - Assistant Horticulture officer, Thejaswini K - Assistant Horticulture Officer, Shashikala R - Senior Assistant Director of Horticulture, Dr. Prakash M Sabrad - Additional Director of Horticulture 3F Oil Palm Pvt Ltd at the MoU signing between 3F Oil Palm and Department of Horticulture, Govt. of Karnataka for advancement of oil palm agriculture in the state.


HDFC Life’s AI Day Unveils the Future of Insurance with Cutting-Edge AI Innovations


HDFC Life, one of India’s leading insurers, successfully hosted its inaugural AI Day, showcasing its commitment to leveraging Artificial Intelligence (AI) to enhance customer experiences, drive growth, and build employee capabilities.

The event showcased cutting-edge solutions from HDFC Life’s in-house Data Labs and key partners, illustrating AI’s transformative role in life insurance.

Delivering Customer Value

HDFC Life’s AI-powered systems focus on: 

* Personalisation: Offering tailored product recommendations to meet individual customer needs

* Efficient Service: Faster query resolution and claims processing through AI-driven automation

* Risk Management: AI models for accurate risk assessments, enabling customers make informed decisions

Sales analytics such as the Pre Approved Sum Assured (PASA) program, Analytical Models at Partner Site, and SalesTap-Nudge Engine enable delivering faster and more customised experiences, providing long-term value for customers.

Empowering Employees for Innovation

HDFC Life is exploring AI tools to improve service quality and foster data-driven decision-making with service analytics such as early claims prediction, mis-sale predictor, 13th month persistency, automated underwriting engine, health risk calculator, early reminder calling, claims and complaints dashboard, and Front Line Sales hiring model.

Innovative Partnerships

Technology partners, including Microsoft, Greylabs.ai, salesassist.ai, and Trupeer.ai showcased AI-powered solutions that enhance customer service and enhance business agility.

Key Event Highlights:

Live demonstrations of AI-powered sales and service innovations by the HDFC Life Data Labs team, showcasing real-world applications of AI in life insurance

Insightful sessions on Generative AI and Enterprise GPT, illustrating how these technologies are driving innovations in customer interactions, product development, and service delivery

Networking opportunities for employees and partners to collaborate on AI-driven initiatives and explore future possibilities for customer-centric innovations

Vineet Arora Chief Business Officer – Distribution, Data & Technology, HDFC Life commented, “Our AI Day demonstrates HDFC Life’s leadership in harnessing AI to provide unparalleled value to our customers and drive sustainable business growth. We are committed to delivering innovative, customer-centric solutions that not only meet today’s needs but also anticipate tomorrow’s challenges.”

HDFC Life’s AI initiatives are also aligned to the Company’s sustainability goals such as reducing paper consumption by automating documentation and workflows. Optimising energy use by streamlining operations, thus leading to a smaller carbon footprint and supporting sustainable business practices by minimising operational inefficiencies and contributing to the broader environmental goals of reducing waste and improving resource efficiency.

About HDFC Life

Founded in 2000, HDFC Life Insurance Company Limited (‘HDFC Life’ or the ‘Company’) is a leading provider of long-term life insurance solutions in India. It offers a broad range of individual and group plans across the Protection, Pension, Savings, Investment, Annuity, and Health categories, with a portfolio of products and optional riders designed to meet the diverse needs of its customers.

HDFC Life is a subsidiary of HDFC Bank Limited, one of India’s leading private banks. The Company has a nationwide presence, operating through its own branches and a network of over 300 distribution partners, including banks, NBFCs, MFIs, SFBs, brokers, and emerging ecosystem partners. HDFC Life also maintains a strong base of financial consultants.

Recognised as a great place to work, HDFC Life is deeply committed to governance and sustainability, ensuring responsible business practices that align with its long-term objectives.

For more information, visit www.hdfclife.com or follow us on Facebook, X (formerly Twitter), YouTube, and LinkedIn.

Union Bank of India Is Observing “Vigilance Awareness Week”


Union Bank of India is observing Vigilance Awareness Week from 28th October till 3rd November on the theme, " Culture of Integrity for Nation’s Prosperity” as envisaged by the Central Vigilance Commission. Various programs are scheduled by the Bank for creating awareness regarding PIDPI, Vigilance, probity and ethics amongst youth, women, employees, their family members and the public at large. Special awareness programs are conducted on Cyber Crime. Extensive use of social media is also being made for wider dissemination of the theme.

At Central Office of Union Bank of India, MD & CEO, Executive Directors, Senior Executives of the Bank and the Executives in the field (PAN India) have adopted Integrity Pledge & committed to uphold highest standards of honesty & Integrity. MD & CEO Ms. A. Manimekhalai through her message appealed all the unionites to follow probity, transparency & integrity in all walks of life to have a sustainable growth and bright future of our nation.

The messages of Hon’ble President, Hon’ble Vice-President, & Hon’ble Prime Minister on Vigilance Awareness Week-2024 were communicated to all the attendees.

CredAble Achieves INR 13,462 Cr Festive Throughput, Empowering MSMEs To Navigate Peak Sales Demand


~CredAble registers a pivotal milestone with a throughput of INR 13,462 Cr to ensure MSMEs maintain steady growth and tap into the pronounced upswing during the festive season. ~

India’s leading working capital-focused FinTech company, CredAble, has achieved unrivalled success in recent times. The company recently announced a throughput of INR 13,462 crore in Q3 to back businesses betting on the festive season for demand surge.

CredAble has been hyper-targeting priority markets like the Micro, Small, and Medium Enterprises (MSMEs) that are a massive untapped source of growth opportunities.

Many industries are looking forward to sales recovery this festive season. Consequently, the award-winning FinTech has stepped up its efforts by providing purpose-built financing solutions that are essential for addressing cash flow challenges and enabling businesses to invest in emerging technologies and scale supply chain operations to meet market demands.

These solutions include short-term working capital loans, revenue based financing, and customised trade and credit solutions that align with the business cash flow cycles and revenue streams of channel partners.

Ahead of the festive season, businesses are expected to generate over INR 50,000 crore, with Delhi contributing INR 8,000 crore.

With Flipkart and Amazon India kickstarting their yearly festive season sales—Big Billion Days and Great Indian Festival—the online marketplaces have reported $6.5 billion in festive sales in just a week with strong demand from customers in cities like Bengaluru, Kolkata, Hyderabad, Chennai, and Mumbai.

While hopes of record-breaking sales are running high, most businesses grapple with inventory shortages and working capital crunches during this time—often resulting in last-minute financing needs.

To help MSMEs keep shelves stocked during these grand sales events, CredAble is constantly augmenting its working capital financing suite with localised and contextual financing solutions. They recently launched Revolving Short-Term Loans to help businesses secure more favourable financing arrangements and manage larger deal volumes without any credit constraints.

Recently, there has been a significant push from the government for a new collateral-free, pre-shipment loan scheme for SME and ecommerce exporters. In line with these timely government schemes, CredAble has built technologies for better implementation of these initiatives, making affordable working capital easily accessible to MSMEs.

By achieving this significant milestone in disbursements, CredAble has benefitted over 12 sectors, including manufacturing, retail, and auto. The newly injected working capital will help businesses maintain inventory levels and ramp up funding for high-impact marketing campaigns, making the most of the heightened demand in the coming days.

Since its inception, CredAble has facilitated multiple financing rounds, helping leading businesses across India and globally scale their operations and fast-track growth.

Nirav Choksi, Co-founder and CEO of CredAble, commented, “We remain committed to delivering localised, digital-first solutions that drive financial inclusion. Backed by scalable, cloud-based solutions, cutting-edge automation capabilities, and flexible financing structures—CredAble is positioned to be a key enabler of MSME growth and address their financing needs, especially during peak sales seasons. With a growing customer base and key partnerships, we’re looking to expand our global footprint by providing innovative working capital and liquidity programs to help businesses of all sizes meet their goals and achieve forecasted growth.”

As part of its ambitious plans for the next year, CredAble plans to double its financing and continue as a global leader in the working capital space with over 500% year-on-year growth.

SBI Cards And Payment Services Ltd Announce Financial Results For Quarter Ended September 30, 2024


Total Revenue Increases to Rs 4,556 Cr Up 8% YoY; PAT at Rs 404 Cr

The Board of Directors of SBI Cards and Payment Services Limited approved the Company’s results for the Quarter ended September 30, 2024, at their meeting

Performance Highlights Q2 FY25

Total Revenue increased by 8% YoY at Rs 4,556 Cr in Q2 FY25 v/s Rs 4,221 Cr in Q2 FY24

PAT at Rs 404 Cr in Q2 FY25 v/s Rs 603 Cr in Q2 FY24

ROAA at 2.7% in Q2 FY25 v/s 4.9% in Q2 FY24

ROAE at 12.5% in Q2 FY25 v/s 22.3% in Q2 FY24

Capital Adequacy Ratio at 22.1%; Tier 1 at 16.3%

Business Highlights

Cards-in-force grew by 10% YoY at 1.96 Cr as of Q2 FY25 v/s 1.79 Cr as of Q2 FY24

New accounts volume at 904K in Q2 FY25 v/s 1,142K new accounts in Q2 FY24

Spends grew by 3% YoY at Rs 81,893 Cr in Q2 FY25 v/s Rs 79,164 Cr in Q2 FY24

Receivables grew by 23% YoY at Rs 55,601 Cr in Q2 FY25 v/s Rs 45,078 Cr in Q2 FY24

Market share for Q2 FY25 Card-in-force is at 18.5% (Q2 FY24: 19.2%), Spends is at 15.7% (Q2 FY24: 18.0%), #2 for Cards-in-force and #3 for spends, in industry

Profit & Loss Account for the Quarter ended September 30, 2024

Total income increased by 8% at Rs 4,556 Cr in Q2 FY25 v/s Rs 4,221 Cr in Q2 FY24. This movement was a result of the following key factors:

Interest income increased by 20% at Rs 2,290 Cr in Q2 FY25 v/s Rs 1,902 Cr in Q2 FY24

Fees and commission income declined 2% at Rs 2,131 Cr in Q2 FY25 v/s Rs 2,186 Cr in Q2 FY24

Finance costs increased by 30% at Rs 788 Cr in Q2 FY25 v/s Rs 605 Cr in Q2 FY24 due to higher receivables.

Total Operating cost decreased by 3% at Rs 2,011 Cr in Q2 FY25 from Rs 2,066 Cr in Q2 FY24

Earnings before credit costs increased by 13% at Rs 1,757 Cr in Q2 FY25 v/s Rs 1,551 Cr in Q2 FY24

Impairment losses & bad debts expenses increased by 63% at Rs 1,212 Cr in Q2 FY25 v/s Rs 742 Cr in Q2 FY24

Profit after tax decreased by 33% at Rs 404 Cr in Q2 FY25 v/s Rs 603 Cr in Q2 FY24

Balance Sheet as of September 30, 2024

Total Balance Sheet size as of September 30, 2024, was Rs 61,872 Cr as against Rs 58,171 Cr as of March 31, 2024

Total Advances (Net of provisions) as of September 30, 2024, were Rs 53,596 Cr, as against Rs 49,079 Cr as of March 31, 2024

Net worth as of September 30, 2024, was Rs 13,161 Cr as against Rs 12,156 Cr as of March 31, 2024

Asset Quality

The Gross non-performing assets were at 3.27% of gross advances as of September 30, 2024, as against 2.43% as of September 30, 2023. Net non-performing assets were at 1.19% as of September 30, 2024, as against 0.89% as of September 30, 2023.

Capital Adequacy

As per the capital adequacy norms issued by the RBI, Company’s capital to risk ratio consisting of Tier I and Tier II capital should not be less than 15% of its aggregate risk weighted assets on - balance sheet and of risk adjusted value of off-balance sheet items. As of September 30, 2024, Company’s CRAR was 22.1% compared to 23.3% as of September 30, 2023.

The Tier I capital in respect of an NBFC-ND-SI, at any point of time, can’t be less than 10%. Company’s Tier I capital was 16.3% as of September 30, 2024, compared to 20.8% as of September 30, 2023.

Rating

CRISIL Long Term     -           AAA/Stable

CRISIL Short Term     -           A1+

ICRA Long Term        -           AAA/Stable

ICRA Short Term        -           A1+

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