Ceo letter to employees

Better.com CEo Vishal made headlines after he laid off 900 employees over a Zoom call  last year and  sacked about 4,000 employees in March. After two mass layoffs since December 2021, Vishal Garg's Better.com has in recent weeks offered its employees in India the option to leave voluntarily. About 920 resignations have already been accepted. The digital-first homeownership company made headlines after Garg laid off 900 employees over a Zoom call just before Christmas last year.  In March, the company had sacked about 4,000 employees in the US and India, including pregnant women on Mother's Day. According to a report by news agency IANS , Better.com offered "its workers in India the option to leave under a voluntary separation agreement". In a statement, the company said that the uncertain mortgage market conditions created an exceedingly challenging operating environment for many in the industry. Read more: Computer abruptly shut down: Better.com employees recount … [Read more...] about Vishal Garg’s Better.com offers India employees option to leave, accepts 920 resignations

It is likely that someone at the Internal Revenue Service illegally leaked confidential donor information showing a contribution from Mitt Romney’s political action committee to the National Organization for Marriage, says the group. In a letter exclusively obtained by The Daily Caller, the organization has asked the Treasury Inspector General for Tax Administration to “investigate and learn the source of the breach and prosecute those responsible to the fullest extent of the law.” It also provided evidence suggesting the leak might have been the result of “IRS employee misconduct.” The dispute stems from a March 30 post on the pro-gay Human Rights Campaign’s (HRC) website, which boasted that it had obtained documents revealing that Mitt Romney “donated $10,000 to the National Organization for Marriage [NOM] in 2008 …” NOM argues that such an unauthorized public release of confidential taxpayer information was a clear violation of federal law. Tax-exempt organizations … [Read more...] about Pro-marriage group thinks IRS employee leaked Mitt Romney’s donor info to Human Rights Campaign

Attraction and retention of top talent is one of the biggest issues facing employers today. Between the Great Resignation and the reshuffling connected with hybrid work, finding and keeping great employees has become a top priority for every company. This is particularly true for startups and high-growth tech companies, where annual turnover and recruitment costs are notoriously high. advertisement advertisement In today’s work environment, employers need a head’s up as to why employees may be on the job hunt. If a breakup is coming, it’s best to know in advance–nd a single annual performance review or satisfaction survey will not help stem the tides. Regular employee feedback is crucial, and annual reviews are passé Research shows that quality feedback is a key indicator of employee satisfaction, and ultimately, of engagement and retention. But in recent years, human resources staples like 360-degree feedback and annual reviews have been falling … [Read more...] about Ditch the annual review and do this for your employees instead

There’s no more challenging job than being the person who has to fire people. Everyone else gets to talk about what a tight-knit, stick-together group the company is (just like a “family” of friends), but you’re the one who has to deliver the bad news over and over again. It’s not easy or always popular to be the boss, but then good leadership isn’t a popularity contest. If you were unpopular in high school, you’re already one step ahead of the game. But the fact is, your company is only as good as its weakest employee. Here are the folks you need to fire - sooner rather than later. No effort, no heart. Sometimes it’s a breeze. We try to immediately fire any employee who doesn’t try or doesn’t care. These are the cardinal sins in a start-up, so there isn’t much angst in letting these folks go. Then the job gets harder. All effort, no results. The next tier of troublesome employees are those who try hard but just cannot do the job. They are totally sincere, but … [Read more...] about 3 Employees You Need To Fire. Now

Razorpay Founders Shashank Kumar & Harshil Mathur B2B payments and neobanking platform Razorpay is looking to get new investors on board through a share sale of $75 million by its employees, the company said on May 10. The purchase will be led by Lightspeed Venture Partners along with participation from Moore Strategic Ventures who will subsequently join the company’s cap table. This will also be Razorpay’s fourth and largest Employee Stock Ownership Plan (ESOP) buyback till date, and the second largest in the startup space after Flipkart’s Rs 600 crore buyback in July 2021. 650 of the startup’s existing and former employees will be eligible for this across roles including software engineers, product managers, customer experience agents, sales, and administrative staff. In December 2021, Razorpay’s valuation had jumped from $1 billion to $7.5 billion after the startup raised $375 million in its largest round. In an interview with Moneycontrol, Razorpay’s founder and … [Read more...] about Lightspeed and Moore Strategic Ventures become investors in Razorpay by buying employee shares worth $75 mn

Zerodha CEO and Co-founder Nithin Kamath Nearly 950 of broking firm Zerodha’s 1100 employees will work from home permanently, according to CEO and co-founder Nithin Kamath. Kamath said in a recent interview with Moneycontrol that the core team will work on a hybrid model. The company had moved operations online after the closure of many offices and workplaces in the pandemic. For its employees working from home, he had earlier mentioned that the company had started setting up satellite offices in smaller towns in Karnataka. Kamath said, “85-90% of our team is working from home and we will continue to do so. We have also set up an office in Belagavi (city in Karnataka).” “We have a taken a call that we would do permanent work from home and people are enjoying living in their small towns. Belagavi has amazing talent and we have a large team working there. Folks are enjoying Belagavi as a city, are having maids and independent houses which they could never think of affording … [Read more...] about Up to 90% of our team will permanently work from home: Zerodha CEO Nithin Kamath

Many companies across the country have returned to work, while others plan to remain remote for the foreseeable future. Shifting workplace dynamics in a pandemic has led many leaders to question what employee engagement looks like in the here and now. But one fact remains constant: Employee engagement is about establishing a goal and purpose for those you lead. It's almost impossible to keep employees dedicated to their work without a larger purpose. So, how do you rally your team around a shared goal in our current circumstances? And does that goal have to be lofty to engage your staff? Four leaders share their perspectives below. 1. Focus on impact. According to Jason VandeBoom, CEO of ActiveCampaign , the leader in customer experience automation (CXA), leaders must rally employees around a purpose beyond just money. His company has put the impact on customers front and center for employees. A focus on customers, or the clients a company is … [Read more...] about 4 Leadership Practices That Will Help You Perform Even Better

These days, corporations make public proclamations after just about every significant news event. After George Floyd was murdered, tech companies, including Microsoft and Apple, made pledges of $3.8 billion to diversify their hiring practices and better support Black workers. Airbnb, Google, and others rushed to announce matching donations to support relief efforts when Russia invaded Ukraine this February. And back in 2013, hundreds of companies , among them Starbucks and Facebook (now Meta), urged the Supreme Court to overturn the Defense of Marriage Act. advertisement advertisement This is part of a series of articles on the business case for abortion access. See the full package here. So why is it that, even amid the mounting pace of state legislation and recent Supreme Court leak , companies have had so little to say about abortion? Starting in March, in anticipation of the Court’s final decision this summer, … [Read more...] about Why corporate America is afraid to talk about abortion

Share to Twitter Share to Linkedin Many articles now plaster the business media with news about the Great Resignation where employees see a hot labor market today and decide to go after a better situation for themselves. At Everest Group, we gathered empirical evidence from employees in many companies and compared that data with our findings from discussions with C-suite executives in leading organizations. Our study yielded both surprising and unsurprising findings. The biggest surprise is the significant gap between the reasons why employees move to other companies and what employers now do to try to retain them. The money picture Let’s start with data around why people leave their jobs and move to another company. It’s unsurprising, to say the least. They leave because they can get paid a lot more somewhere else – not a modest amount more – a lot more. What is surprising is the order of magnitude that this is happening and the amount of the … [Read more...] about Surprising Truths About The Great Resignation And Retaining Talent

I've been in the business of coaching companies for a few decades, but only recently did I get into the business of research. Management ideas are nice ideas, but they're just that. If you want to prove what actually drives financial results--and if you care about improving the lives of the employees who drive those results--you need applied research. My friends at Harvard Business School have been telling me this for a while, so I talked them into helping me test the validity of a management approach we call economic engagement. It's all about partnering with employees to profitably serve customers. We defined precisely what we meant by economic engagement, codifying it in five management practices. Three years into the research, we shared the initial compelling results in these pages (more details are provided in the book I wrote with John Case-- Partners on the Payroll ). While I'm a die-hard fan of this approach (and growing more fanatical as the research continues … [Read more...] about What’s Missing in the Agile Approach