Category: In The News

Future-Proof Your Workforce Strategy: Trends to Watch in 2024 | In the News

As 2023 draws to a close, business analysts across the board are all rolling out their predictions of workforce and staffing trends to watch for 2024. There seems to be a growing consensus around several topics that HR and talent acquisition professionals must address in the coming year.

Everest Group‘s reports on workforce management, improving time to hire will be a crucial differentiator for business success in 2024. We predict that businesses will use contingent workers in 2024 to speed up the acquisition of essential skills and bypass hiring freezes. We also anticipate that generative AI will reduce the time required to identify, source, and engage talent.

Read more in Beeline.

Wipro Contemplates Skipping Hikes for Top Performers in Largest Business amid Industry Challenges | In the News

Initially benefiting from a pandemic-induced digital services boom, India’s $245 billion information technology industry has been facing challenges in recent quarters as clients cut spending on discretionary projects amid inflationary pressures and global economic uncertainty. Salary expenses constitute the largest contributor to costs for IT companies, typically accounting for over 60 percent.

Wipro is reportedly considering skipping salary hikes for “top performers with higher compensation” in its largest business line during the upcoming round of salary revisions scheduled for December. The decision comes as the company grapples with various challenges, including weak client spending and fierce competition from larger rivals.

Peter Bendor-Samuel, CEO of Everest Group, notes that the additional attrition could help rebalance benches to meet demand and bring costs back into balance with demand.

Read more in InfoTechLead.

AI and Automation: Graig Paglieri of Randstad Digital on How to Effectively Harness AI Technology in People Operations | In the News

Recently, Graig Paglieri, the CEO of Randstad Digital Americas was interviewed by Medium, where he talks about how they’re utilizing new technologies to make their jobs easier and provide greater strategic value.

In his interview, Graig mentioned a recent white paper with the Everest Group that estimates that the current global skill gap for AI/ML technologies is 25%-30% — and for cloud skills and cybersecurity, that skill gap stands at 20–25% and 30% percent, respectively. As a solution, enterprises should clearly outline what they hope to achieve with AI, from improving internal operations or enhancing customer engagement.

Read more in Medium.

India’s Wipro Likely to Skip Pay Hikes for Top Performers in Key Business Line – Memo | In the News

Wipro may skip giving hikes to “top performers with higher compensation” in its largest business line in the upcoming round of salary revisions in December, according to an internal memo seen by Reuters.

Such a move might affect employee morale and lead to more attrition, according to Peter Bendor-Samuel, CEO at Everest Group. “The additional attrition will help rebalance benches to meet demand, and will help bring cost back into balance with demand,” he added.

Read more in Reuters.

Sourcing with Purpose: Five Steps to Drive Successful Impact Sourcing Initiatives | In the News

The talent market has witnessed significant turbulence over the past few years, starting with the pandemic and hiring freeze to the great resignation and ongoing economic uncertainty. It is becoming increasingly difficult for enterprises to secure a skilled workforce, making the talent and skills shortage one of the top three business concerns in 2023.

This is where impact sourcing steps in – a practice that aligns social and ethical values with business benefits for the betterment of both society and the organization. Learn more about impact sourcing and the benefits businesses can gain in this article by Rita N. Soni and Anik Dutta.

Read on in Irish Tech News.

How Generative AI is Changing Creative Work | In the News

Text, image, and audio generators offer new content creation capabilities, but they raise concerns about originality, ethics, and the impact of automation on creative jobs.

Nishant Jeyanth, Practice Director at research firm Everest Group, sees generative AI tools playing a broader role in creative content lifecycles in enterprises. Tools such as ChatGPT and Dall-E are especially useful for crafting first drafts.

Read more in TechTarget

Secure from the Get-Go: Top Challenges in Implementing Shift-Left Cybersecurity Approaches | In the News

An approach that builds cybersecurity into software and platforms can create stronger security, reducing vulnerabilities and risks. But implementation often comes with challenges.

Focusing on a software product’s speed to market, performance, and security, Ankit Gupta suggests embracing “integrated KPIs” for organizations, fostering shared accountability across product teams, DevSecOps teams, and stakeholders. “Developers don’t have KPIs around security, because it isn’t their main responsibility. But if you’re not incentivized as a developer to spend more time on security, it will limit the willingness to spend time on security,” says Ankit Gupta, Practice Director with Everest Group.

Read more in CSO.

Do You Have What It Takes to Be a CISO? Take the Personality Quiz | In the News

The position of the chief information security officer (CISO) stands out as one of the most influential and well-paying roles within an organization, attracting a diversity of talent. While strong technical skills are key, CISOs must also exhibit resilience, unwavering focus, and a strong commitment to transparency.

Interestingly, candidates with nontraditional backgrounds offer unique benefits to the cybersecurity field, specifically CISO roles. “I’ve found that individuals that have faced adversity in their life tend to make better CISOs,” noted Amit Anand, Senior Analyst at Everest Group.

Read more in ITPro Today.

Humans at the Heart of Generative AI | In the News

Generative AI is becoming a key component of business operations and customer service interactions today. According to Salesforce research, three out of five workers (61%) either currently use or plan to use generative AI in their roles.

The public release of generative AI technology over the past year has improved the use of Chatbots dramatically in a short time. “Chatbots were around before, but generative AI has further increased their efficacy, as well as the quality of output,” notes Vishal Gupta, Vice President at Everest Group.

Read more in this MIT review.

Analyzing the AI Era: Everest Group Peers into the Future of Automation | In the News

Harpreet Makan, Practice Director at Everest Group, spoke with theCUBE at the UiPath FORWARD event during an exclusive broadcast to discuss the effects of automation on enterprise technology and the future of AI in business.

“We are seeing the emergence of intelligent automation platforms as a whole,” said Makan, who draws upon Everest Group’s recently published Continuous Discovery and Intelligent Automation Playbook. “The belief in AI is much higher today than it was five years ago. And I think that belief is probably pushing everybody to explore things that they were scared of or they were skeptical about.”

Read more in siliconANGLE.

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