Wipro sacks at least 600 employees after performance appraisal

Wipro has shown the door to about 600 employees, while speculation was rife that the number could go as high as 2,000.

The country’s third largest software services firm Wipro is learnt to have fired hundreds of employees as part of its annual “performance appraisal”.

According to sources, Wipro has shown the door to about 600 employees, while speculation was rife that the number could go as high as 2,000.

At the end of December 2016, the Bengaluru-based company had over 1.79 lakh employees.

When contacted, Wipro said it undertakes a “rigorous performance appraisal process” on a regular basis to align its workforce with business objectives, strategic priorities of the company, and client requirements.

“The performance appraisal may also lead to the separation of some employees from the company and these numbers vary from year to year,” it added.

The company, however, did not comment on the number of employees that have been asked to leave.

Wipro said its comprehensive performance evaluation process includes mentoring, re-training and upskilling of employees. The company is scheduled to report its fourth quarter and full-year numbers on April 25.

The development comes at a time when Indian IT companies are facing an uncertain environment given the curbs being proposed on worker visa norms by various countries like the US, Singapore, Australia and New Zealand.

These companies use temporary work visas to send employees to work on client sites.

With visa programmes in these countries becoming more rigorous, Indian IT companies are likely to face challenges in movement of labour as well as a spike in operational costs.

Indian IT companies get over 60% of their revenues from the North American market, about 20 per cent from Europe and the remaining from other economies.

Besides, higher adoption of technologies like automation and artificial intelligence is also reducing the need to have a large number of employees at client site.

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SRK Inspired IIM Alumni ‘be a Dilwale’

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He sang, he delivered his signature wittiest dialogue and he, the Badshah colored every hard-nosed corporate honcho at the IIM Bangalore’s first-ever alumni meet — IIMBUE’s Leadership Summit — in Bengaluru on Friday.

— Shabab Khan

Shah Rukh Khan, the King of Bollywood, did what he does best and entertained the houseful audience with his brand of leadership lessons in his trademark style and sense of humour.

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Kiran Mazumdar-Shaw, Chairperson, Board of Governors, IIMB, hands over a memento to Shah Rukh Khan at IIMBUE – IIMB Alumni Leadership Summit.

He began his talk on creative leadership with a popular joke that alluded to the street smartness that the learned audience may have missed out in their quest for knowledge.

Here are nine points from Shah Rukh Khan’s talk that touched upon his life lessons that managers could do well to take to the boardrooms:

Leaders are able to assimilate their experiences in order to reframe the world around them in their own terms. They use the very structure of life to dismantle it. They are not afraid to question, to imagine, to dream, and most importantly to believe.

They are also not afraid to act, even if their actions may not result in success— Being a public figure, my actions are constantly questioned, reviewed, and distorted. I get it all but whenever I feel thwarted I sing this song, “hum to acting karega, duniya se nahi darega…” so do not stop to act. Action is everything. Dreaming is not enough. You need to dismantle the old, the frameworks that are laid out before you, the ideas that you cling to, the ones that hold you back and prevent you from growing. It is by disassembling your fears of failing and losing not just things, but people and positions, your jobs and most of all change that, that you can be truly creative.

I meet many successful people in the world of business and while their ideas are very clear, the way they speak of them is oddly dispassionate. The madness and passion are missing— I get the sad impression that business often becomes numerical… it is only about millions and targets. It is so goal driven that there is a stark loss of inspiration from it. I think the emphasis on organisational goals and efficiencies has clouded the poetry of creating. It is difficult for me to relate to this starkness. I feel it lacks life. Creation cannot be a managerial concept, it has to be an ‘imaginarial’ concept.To lead means to inspire.

You cannot inspire people mechanically or through statistics or numbers unless they are stock brokers or bankers (with due respect). Inspiration is an emotional construct… to make people believe in anything whether it is a product or an idea or even you yourself, you need to connect the ability to imagine and dream. You cannot create within a box… it is an open process, one that is welcoming and even wild at times.

I have never set goals. I have never set out to earn a particular amount, or to count the crores at the box office, or compare my work with another. In fact, I would go as far to say quantifiable goals are indeed illusions, and the only reality is actually hard work. Making the mistake of believing that your dreams will take flight without having to flap madly at those wings is silly. Every single moment requires diligence. Life remains ordinary if you are unable to sustain the capacity to work hard on your dreams.

Leadership implies being prepared for disaster also. And it will hit you. It could come as a failure maybe or taking someone away you love. So what will you do about it? Wallow in self-pity? I do that often. But I do it in my huge golden bathroom between the jacuzzi and the steam room. I shed huge tears of self-pity but when I walk out wearing my limited edition cologne that helps. I am ready to embrace disaster. So little bit of crying and wallowing is ok. But the thing to understand is you have to accept it. Change your perspective, do a handstand and rebuild yourself that is what leadership is about.

A perfect life, according to me, is a farce. There is no perfect life. Actually, there is nothing more beautiful than the imperfections of life. In my trade, life serves as a fertile ground for innovation and ideas. We use its imperfections every moment. In fact, there is nothing that allows us to live better than trouble, so why not embrace it. And while we are embracing let’s embrace destiny too, and in my case, I’ll embrace Kajol, Madhuri, and Alia too. And guys whichever company you join or create you will not get these perks, so ha ha.Destiny isn’t what it’s rolled out to be either. Accidents happen. I am a living example of accidents — movie star/entrepreneur/speaker at IIM gathering. I wanted to be a sportsman. I hurt my back but did not have the resources to get proper treatment. So I joined a theatre group to overcome my sadness. My father died suddenly and we were evicted from our rented house and mother went looking for a smaller house. The property dealer’s father-in-law was making a TV serial, ‘Fauji’.

My mother sent me to him and I got the part of Abhimanyu Singh and things got haywire from there. Incidentally, we never took the house from the dealer.

Destiny plays a part, yes. No one can teach us either how to fight it or chase it. Just like a disaster, it will come your way. But if you don’t have the courage to ride its waves when it comes it will toss you right on the beach and all you will be left with is a sunset of a tired and weary life. So keep your eyes open for life’s magic.

Unless you live by the heart, unless you are a Dilwale none of this will translate into a splendor that life is capable of unfolding before you. The mind is the seed of creativity, the heart is the soil. The seed cannot grow without an open heart. To take everyone together with as much goodwill for them as you have for yourself is the basis of all creative endeavour, of all real success, of all happiness, and true leadership.



(Author is an Export Entrepreneur, Journalist, and Social Activist)

Input Credit: Dipti Nair, Bangalore

Business Optimism !!


. . . Positive Energy can allow in terms of making you go for an attempt even in some impossible scenario. And in this game of positivity India emerged as World’s IInd having most businesses running on Positive tracks.

— Shabab Khan

NEW DELHI: India Inc has emerged as the second most optimistic in terms of business optimism globally with a survey showing that 86 per cent of Indian respondents are bullish about an increase in revenue of their companies.

According to the Grant Thornton International Business Report (IBR), a quarterly global survey of 2,580 business leaders, India ranked second after Ireland in terms of the business optimism.

Business confidence and expectations for revenue and exports are down in several major economies that have China as a major trading partner, though slowdowns are hitting USA, Greece, France, Romania, even United Arab Emirates plunged down. India is safe.

“India is relatively insulated from the slowdown in China and sees a slight gain in confidence, despite falling exports,” the survey said while taking note of RBI’s recent interest rate cut by 50 basis points to support growth. As per the survey, 86 per cent Indian businesses are optimistic about an increase in revenue compared to 83 per cent last quarter. Moreover, Indian businesses are also positive about profitability with 69 percent respondents expecting a rise in the profits. ” Indian businesses have been consistently optimistic in their business outlook over the past decade barring a couple of quarters. This is based on the underlying strength of the economy, the consistent high growth rate, the entrepreneurial dynamism in being able to create new opportunities and businesses and the lower reliance on global trade based on significant domestic demand,” Grant Thornton India LLP Partner – India Leadership team Harish HV said.

However, there was further fall in optimism on the rise of employment aspect with only 52 per cent Indian businesses hoping for the same. “The concern based on the results of this survey is the pessimism on employment, which is a key factor and need for the country given the demographic dividend which could turn into a demographic nightmare without adequate employment generation. The Government’s thrust on ‘Make in India’ needs much more push to make it a reality and that could salvage the situation,” the report added.The survey noted that ICT (Information Communication Technology) infrastructure is the biggest concern for Indian Businesses followed by lack of skilled workers and red tape. Also, there is not any major improvement in the expectations of an increase in R&D activities and exports in the country from the last quarter.



(Author is an Export Entrepreneur, Journalist, Social Activist…

Marine Insurance

Introduction of the subject:

MARINE INSURANCE:

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— Insurance covering the consignment you are exporting by using a shipping agency is a Mandatary term you will find mentioned in Order-Sheet. And, its not expensive at all.

— by Shabab Khan
Export Entrepreneur

Importance of Marine insurance in commerce:

Marine insurance plays a very important role in the field of overseas commerce and internal trade of a country. It is closely linked with Banking and Shipping. Banks generally finance the goods which are transported by ships or by other means of transport in the case of internal trade and Marine Insurance protects such goods a Marine  Insurance  can be  divided broadly  into two  groups…


— Cargo  Insurance
— Hull Insurance

As stated  earlier,  Marine  Insurance is  closely  linked  up with the  trade  of  a  country internal  as  well  as  international.  A  sale contract  which  is  an  essential  feature in  the trade involves  a  seller  and  a  buyer, apart  from  the  other  parties  like  the  carrier, the  bank,  and the shipping agent.  Whether  the insurance  of  the  goods  in transits  is  to  be  the  responsibility  of  the seller  or  the buyer  depends  on  the type of  the sale contract  in  any  transaction.

There are different  types  of  sales  contracts  the most  important  of  which,  as  affecting  the Marine Insurance are:

-F.O.B. (  Free  on Board)  In this  case, the  seller  is  responsible  for  loss  of  or  damage  to the  goods  until  they  are  placed on board the  steamer  for  on carriage. Thereafter  the  buyer becomes  responsible  and  he  has, therefore, the  option to insure  where  he  likes.

-C.I.F. (Cost,  Insurance  and Freight)  In  this  case  the  seller  assumes  responsibility  for the  insurance  and the  insurance  charges  are  indicated in the  invoice  along  with the  other charges.

-C  &  F  (Cost  and  Freight)  In this  case, normally  the  buyers  responsibility  attaches from  the time the  goods  are placed  on  board  the vessel  and  he has  therefore to  take  care of  the insurance.

-F.O.R. (Free  on Rail)  This  is  same  as  F.O.B. but  it  concerns  mainly  the  internal  trade transactions.

Marine Cargo  Policy: This  policy covers  goods, freight  and  other  interests  against  loss  or  damage  to goods whilst being transported by rail, road, sea and/or air.

Highlights
This  policy  covers  goods, freight  and other  interests  against  loss  or  damage  to goods  whilst  being  transported by  rail, road, sea  and/or  air. Different  policies  are available depending  on  the type of  coverage required  ranging from  an  ALL  RISK  cover  to  a restricted  FIRE  RISK  ONLY  cover.

• This policy is  freely  assignable  and is  basically  an agreed value  policy.

Scope Transportation of  goods  can be  broadly  classified  into three  categories:


1. Inland Transportation:
2. Import
3. Export

The types  of  policies  issued  to  cover these transits  are:

For  Inland Transit:
a. Specific Policy  –  For  covering  specific  single  transit Open Policy.

b. For  covering  transit  of  regular  consignments  over  the  same  route: The policy  can be  taken for  an amount  equivalent  to three  months  despatches  and premium  paid in  advance.

As  each  consignment  is  despatched,  a  declaration  giving  details  of  the  despatch including  GR/RR  No. is  to be  sent  to the  insurer  and the  sum  insured  gets  reduced by  the amount  of  the  declared  despatch. The sum  insured can be  increased any  number  of  times during  the  policy  period  of  one  year;  but  care should  be taken  to  ensure that  ad insured is  available  to cover  the  consignment  to be  despatched.

c. Special  Declaration  Policy  –
equate sum For  covering  inland transit  of  goods  wherein  the  value of  goods  transported during  one  year  exceeds Rs.20 mns. Although the  premium  for  the estimated  annual  turnover  [i.e. the estimated value  of  goods  likely  to be  transported during the  year]  has  to be  paid in  advance,  attractive  discounts  in premium  are  available.

d. Multi-transit  Policy: For  covering  multiple  transits  of  the  same  consignment including  intermediate storage and  processing. For  e.g. covering goods  from  raw  material supplier’s  warehouse  to final  distributor’s  godown  of  final  product.

For  Import/Export:
a. Specific Policy  –  For  covering  specific  import/export  consignment.

b. Open  cover  –  This  policy  which is  issued  for  a  policy  period of  one  year  indicates the  rates, terms  and conditions  agreed upon by  the  insured and insurer  to cover  the consignments  to be  imported or  exported.

A declaration is  to be  made  to the  insurance company  as  and  when  a  consignment is  to  be  sent along  with  the  premium  at the  agreed. The  insurance company will  then  issue a certificate  covering  the declared  consignment.

c. Custom duty cover rate: This  policy  covers  loss  of  custom  duty  paid in  case  goods arrive  in damaged  condition.  This policy  can be  taken  even if  the  overseas  transit  has  been covered by an insurance  company  abroad, but it  has  to be  taken before  the  goods  arrive  in India. Add  on  covers Inland transit  policies  can be  extended to cover  the  following  perils  on pay ment  of additional premium :

i. SRCC  –  Strike,  riot and  civil commotion  (including  terrorist act)

ii. FOB  – Where  the  inland transit  is  required to  be  extended to  cover  the  goods  till they  are  loaded on board  the vessel, this  extension  can  be taken. Export  /Import  policies  can  be  extended to cover  War  and /or  SRCC  perils  on payment  of  an additional  premium. Who can  take  the  policy The  contract  of  sale  would determine  who buys  the  policy.

The  most  common contracts  are:

— FOB (Free on Board)

— C & F (Cost  & Freight)

— CIF (Cost,  Insurance  &  Freight)

In  FOB  AND  C&F  contracts, the  buyer  is  responsible  for  insurance. Whereas  in CIF contracts  the  seller  is  responsible  for  insurance  from  his  own premises  to that  of  the purchaser.

How to  select  the sum  insured: The sum  insured or  value  of  the  policy  would  depend upon the  type  of  contract.

Usually, in addition to the  contract  value  10 to 15%  is  added to take  care  of  incidental  cost.

How to claim:
The  following  steps  should be  taken by  the insured in event  of  a  loss goods insured :

i. Take  immediate  steps  to  minimise  loss or  damage to inform  nearest  office  of  the  insurance  company  or 

ii. Claim  settling  agent  mentioned in the  policy.

In  case  of  damage  to  goods  whilst  on ship or  port, on arrange  for  joint  ship  survey  or port  survey. Lodge  monetary  claim with  carrier  within  stipulated  time  period.

Submit duly assigned  insurance  policy/certificate  along  with  the  original invoice and other  documents  required to substantiate  the  claim  such as:

-Bill of  Lading (B/L)
-AWB/GR
-Packing List
-Copies  of  correspondence  exchanged with carriers.
-Copy  of  notice  served on  carriers  along  with acknowledgment/receipt.
-Shortage/Damage Certificate issued  by  carriers.

Survey  fees: These fees to be  paid to the  surveyor  appointed by  the  insurance  company. will be  reimbursed  along  with  the  claim if  the  claim is  otherwise admissible. Survey  report  submitted  by  Surveyor.

Hope these basic structure of Marine Insurance will help you in buying appropriate policy for your consignment, for further you are welcomed to contact at:


khansworld@rediffmail.com
(Author is an Export Entrepreneur, Journalist, Engineer and Social Activist for Cruelty Against Animals…

Under Performers: How to Get Rid of Business Blue!

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Business owners who understand the importance of governing under performance at work are confirmed to experience much higher workforce morale and motivation.

The primary move toward this is an better performance management system which can result in happier, more engaged and better performing personnel.

In an effort to institute successful performance management plan, it is crucial for business owners to grasp what under performance is.

Unwanted behaviour that impacts the colleagues, not complying with workplace regulations, procedures or instructions and low work performance as required by the particular role are all examples of under performance on the job. It is equally crucial you recognise the distinction concerning misconduct and under performance as misconduct is a more dangerous behaviour such an assault or theft that may regularly result in instant dismissal.

Also vital to grasp is the reasons why a staff member would perform inadequately. A number of these include employee’s unawareness of what exactly is expected from them in the role, personal variation with his or her colleagues, workplace bullying, disparity between worker’s attributes and the task, insufficient training or individual determination or individual and other problems at home.

Dealing with under performance can be demanding and managing it quickly is vital as numerous employees may not know that they are not delivering to the good enough level. Not having the performance management solution or not using the existing disciplinary mechanism may also effect the willingness of other co-workers who will all too readily fall into the mentality of lowered moral and deliberate under-performance.

No every single under-performance has to be handled using the identical existing and planned process; it could on occasion be carried out by means of constant feedback.

Given that we defined the under performance as well as scrutinised some of the causes and unwanted side effects of poor performance at work, allow us to uncover some of the best tactics to regulate deficient performance. It is obvious that fast performance management is vital for the business and the employees so here are the 5 methods towards better under-performance regulation at work.

1. the concern– it is imperative to effectively and correctly recognise the key drivers of performance and help those recognise weak performing employees.

2. Analyse the challenge – scrutinise the significance and the period of time the challenge existed. Also discover how widespread is the gap connecting expected and the actual performance of the worker. Within this activity, a meeting with an recruit should be held and its reason clearly communicated to the individual.

3. Meeting with the person – this sitting is to mutually focus on what the challenge is, exactly why it is a problem and how this challenge impacts on the overall organisation.

4. Map out a solution- that both parties are satisfied with. This might incorporate prompt, exact and measurable approach leading to the performance improvement.

5. Observe performance – set-up recurring chat at which performance improvement can be observed and added variations developed. These review conferences ought to include a continual feedback.
If all the ways for the performance improvement have been explored, it is possible for an employer to bring to an end the worker’s employment. This is an satisfactory course of action so long as the occurrences creating the termination were not un.

What If You Are An Underperforming Employee in Your Own Organization?

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— Shabab Khan

This may sound like there will be a long list of how to fire your non-performers in a positive manner. However, there will be nothing of the sort here. Rather this article relates to how you can identify and deal with your worst employee, firing the zero productivity activities and not the employee himself. So the first part says about identifying who is your worst employee.

Not every entrepreneur will have the guts to say that they themselves are the worst performer of the company. Most of the Entrepreneurs give themselves a free pass even when they realize they are non-contributors to the organization. As an entrepreneur, you should first have a critical eye for the self before you start pin pointing others and their ways to work.

Have you ever analyzed about how much is your contribution to the organization, or how much time have you wasted while on work as an entrepreneur. It is in human nature to find faults with others and not judge the self and this is an offensive stupidity for the growth of the organizations.

Identify whether you are the worst performer!

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It is an entrepreneur’s duty to become an asset for the organization and not a zero productivity leech. If you are doing the following things then you should consider changing before it is too late:

★ Are you avoiding business tasks and doing personal tasks at work?

★ Are you wasting a lot of time on social media?

★ Do you not take any action even if you have analyzed things to the death?

★ Do you stick your head in the sand when it comes about financial metrics?

★ Do you believe in avoiding conflicts even if this means loss in business, your business?

If the answer to all or even any of these questions is a yes, then you are harming the business. And with a yes to the above question, ask yourself yet another question that would you ever employee, or pay a person such as yours? The answer seems but obvious. When you are at work you cannot allow free passes, even if it is for the self, and even when you are the entrepreneur.

Question yourself regularly.
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When you question yourself regularly, you are able to find your faults better. When you feel that your productivity as an employee to the organization is going low, pose yourself with the following questions:

★ Is this for what you pay yourself?

★ What would a pro do in such a situation?

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When you act like an ostrich in financial matters ask yourself, is this for what you pay yourself.

Questioning the self always helps you commit to the right track. No, you cannot work for all those hours in the office. It is understandable that you cannot work for each minute in the office. You have to relax for a while; after all, you are not a machine. You have to find ways to keep yourself relaxed that helps you maintain focus on the task you are performing. You need to have little knick-knack breaks that have the potential to keep you all charged up. Make sure, you do not end up only relaxing. You have the right to relax only when you have reached the levels of exhaustion while working. Remember no work means no play.

Summary:
In order to make your organization a profitable one, make sure you are the entrepreneur of real worth for the organization. If you are a zero contributing entrepreneur, you need to fire yourself, and evolve as a whole new entrepreneur, whom your own self would love to hire.

One more thing, do not compare yourself with xyz. And for pete’s sake never fall into the negative barren land, else inferiority complex will turn your well-nurtured cheeks into long dug holes, insomnia will visit your bedroom frequently.

Just be honest with yourself, and keep your sex life intact, no more no less (ROFL).


…shabab khan
(Author is an Export Entrepreneur, Journalist, Engineer and Social Activist Against Animal …
©Copyright 2014-2016. Shabab Khan, Allahabad. No Permission for commercial use of this article, however non-profitable purposes can be a cause to use the content but credit to author should be given.