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2022: The Year of the Employee

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2021 fuelled the “Great Resignation,” which is now happening in full force as one in four workers are considering changing their jobs. Employers today, therefore, need to understand how they can meet employees’ expectations of what they want in a job in order to retain them, especially in an increasingly hybrid workforce-dominated environment.

As a result, in 2022, we’ll see more employers focus on areas such as employees’ health and mental well-being, transformational leadership, technology enhancements, employee engagement, and social and environmental concerns in the “Year of the Employee.” Marc Ramos, CMO at SplashBI, discusses how the importance of employee engagement will catch the attention of the corporate board room in 2022, thus putting pressure on CEOs & CHROs to effectively address recruitment and retention.

What Employees Want 

It is no secret that employees are a company’s most valuable asset, and so, especially within a hybrid workforce environment, it is increasingly important for managers to look at their employee experience beyond the traditional expectations. Driven by Covid-19, workforce expectations are increasing (and evolving), and employers should look to offer additional support to strike the balance between work and home life.

The need for transformative leadership will become increasingly key within workforces as employees develop more control over their work processes, reinvent workflows, and design systems that reflect the way their team thinks and operates. Traditional leaders who consider being in the same pre-Covid physical location to be the best strategy for developing their teams will be most at risk of losing their best people, thus incurring potentially unnecessary costs in employee turnover.

Employers who are in touch with their employees and offer this support will further create trust and respect. It is critical for businesses to understand the direct relationship between employee experience and productivity. At the moment, organisations cite employee satisfaction, talent retention, increased productivity, and higher revenue per employee as valuable factors driving their interest in increasing employee experience. And this should be a top priority for companies as we move out of the pandemic.

Engagement through Technology 

Modern workforce analytics management software and consumer-grade platforms are critical for employers to better support their employees’ engagement and satisfaction in the workplace.

Companies that are adopting hybrid work models, placing an increased emphasis on employee experiences, and prioritising today’s multigenerational workforce must invest in these consumer-grade technologies. This means that data can be leveraged in this way to make it easier to gather employee feedback frequently, identify where there is a potential problem, and assist managers by taking action in real-time.

Benefits of a workforce analytics system include supporting employees, for example, employers can monitor the number of hours worked, tasks performed, breaks taken, and holiday requests. This type of data can flag to managers when employees are at risk of burning out or being overworked. Also, using real-time employee data to create temperature and pulse checks can support employers and keep them informed on employee performance and wellness – especially while COVID-19 cases are still uncertain at present.

By leveraging modern communications systems, businesses can enable employee-employer interactions that use data to streamline, automate work and gather immediate feedback from employees within the context of their roles. This provides business leaders the opportunity to view and share relevant information which assists employees in their career development / upskilling and future success.

Finally, retention goals and retention strategies can be easily tracked with the proper leveraging of people analytics data.  Which managers are doing a great job of developing and retaining top talent?  What are they doing differently?  Can their practices be introduced company-wide?  These managers should also be utilised as mentors for other leaders. By utilising data for creating actionable retention plans, employers can put their best foot forward to achieve their retention goals.

Conclusion

2022 is the “year of the employee”, pushing companies to better understand how to prioritise their workforces, treat them kindly, and create better experiences in the workplace that increase their satisfaction.

These types of perks will highlight to workers that their employers can cater to their needs and/or preferences and that they trust their abilities outside of a traditional work environment. With appreciation and loyalty, the company will be able to reward and retain long-term employees.

 

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Tata Motors partners with IndusInd Bank to offer exclusive Electric Vehicle Dealer Financing

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Key Highlights:  

  • One-of-its kind Electric Vehicle Inventory Financing program for Tata Motors’ dealers 
  • Limits extended towards EVs will be over and above regular dealer finance limits for Internal Combustion Engines (ICE) 
  • Attractive special pricing  
  • Additional limit to cater in peak seasons, can be extended 2 times in a year 

In its effort towards increasing EV adoption in the country, Tata Motors, India’s leading automotive manufacturer, today announced that it has joined hands with IndusInd Bank to offer an exclusive Electric Vehicle Dealer Financing solution to its authorized passenger EV dealers. Under this scheme, IndusInd Bank will provide additional inventory funding with attractive pricing to authorized passenger EV dealers of Tata Motors. This additional inventory funding would be over and above the ICE finance limit of the dealers. Repayment tenure will range from 60 to 75 days. Furthermore, IndusInd Bank will also offer additional limit to cater to high demand phases, which will be available to dealers 2 times in a year.

The MoU for this partnership was signed by Mr. Aasif Malbari, Chief Financial Officer, Tata Passenger Electric Mobility Ltd. and Director, Tata Motors Passenger Vehicles Ltd. and Mr. Sanjeev Anand, Head – Corporate, Commercial, Rural & Inclusive Banking, IndusInd Bank Ltd.

Commenting on the rollout of this offer, Mr. Aasif Malbari, Chief Financial Officer, Tata Passenger Electric Mobility Ltd. and Director, Tata Motors Passenger Vehicles Ltd. said“As we move along towards our aim of electrification and green mobility, we are ecstatic to partner with IndusInd Bank to assist our authorized electric passenger vehicle dealer partners with an exclusive financing program. Our dealer network is one of our core support pillars and through their constant efforts we have been able to ride the electrification wave in India. We are positive that through this tie-up, we will make EVs more accessible and the EV buying process, a seamless and a memorable experience for our customers.” 

Speaking of this partnership, Mr. Sanjeev Anand, Head – Corporate, Commercial, Rural & Inclusive Banking, IndusInd Bank Ltd., said, “As a bank with sustainability at our core, we are extremely delighted to partner with Tata Motors, one of India’s leading automotive brands, to offer an exclusive electric vehicle dealer financing program for authorized passenger EV dealers of Tata Motors. We are proud to partner with the segment leader in the journey toward a sustainable future. Through this tie-up, we are also looking forward to expanding our base into new consumer segments and be a bank of choice providing solutions to meet all banking requirements of the customers.” 

Tata Motors has been pioneering the Indian automotive market with its groundbreaking efforts, and is currently leading the e-mobility wave in India with a commanding market share of 89%, with over 50,000 EVs produced till date in personal and fleet segments.

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astrantiaPay Selects SaaScada to Enrich Swiss Landscape of Business Payments and Fill Market Gap

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Swiss financial firm, astrantiaPay, to use SaaScada’s cloud-native core banking engine to simplify cross-border payments for SMEs and facilitate international trade and services across the old and new economies

 Cloud-native core banking engine, SaaScada, today announced it was selected by astrantiaPay to launch a Swiss point of contact for international businesses looking to open and run corporate bank accounts in Switzerland. Once regulatory approval is in place, astrantiaPay will provide mission-critical payment services to sophisticated Swiss, European, and global companies.

“Promoting SMEs is high on the agenda of policymakers, but the reality is very different when dealing directly with banks. In fact, financial institutions often show little or no appetite for low-margin, labour-intensive company accounts with regular cross-border payments”, explains Lukas Wissner, CEO of astrantiaPay. “As a result, opening and maintaining corporate bank accounts can become a complex and costly procedure, posing a real challenge for Swiss and European start-ups and established businesses. This can hinder growth, and sometimes even threaten a company’s existence. Ultimately, corporate bank accounts with a foreign nexus are an underserved niche segment in the Swiss financial ecosystem which is historically dominated by asset managers and private banking.”

SaaScada is an industry-proven core banking system that unlocks trapped customer value, mitigates risk, and drives real-time data insights. It was founded from a desire to provide first-class financial services capabilities for everyone. SaaScada’s configurable product features and transactional ledgers can be connected to any payment scheme, gateway, channel, or FX provider. Its event-driven architecture will provide astrantiaPay with a real-time stream of events for each company account.

“SaaScada’s experience and deep understanding of how to execute a bank in the Swiss financial and regulatory landscape convinced us,” concludes Lukas Wissner. “Looking back, SaaScada was the right starting point on our integration journey, as its experienced team of programmers readily enable open API connections to virtually any data source and endpoint; be it software tools for onboarding, client relationship management (CRM) and transaction monitoring (TM), or accounting systems, payment aggregators and international correspondent banks. Leveraging SaaScada’s proficiency and infrastructure has helped us create an organic whole.”

“Lukas Wissner and the team at astrantiaPay have a distinct vision to make bank account opening simpler for international SMEs,” explains Nelson Wootton, Co-Founder and CEO at SaaScada. “SaaScada is delighted to support astrantiaPay in driving financial inclusivity for its customers, solving complex compliance challenges, and enabling SMEs to thrive.”

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