Month: October 2022

 

·         Inaugurates 10 new touchpoints in partnership with Autobahn in Maharashtra

·         Average distance between two BharatBenz touchpoints in western Maharashtra reduces to 75 km

·         BharatBenz has 26 active touchpoints in Maharashtra

India– Daimler India Commercial Vehicles Pvt. Ltd. (DICV), a wholly-owned subsidiary of Daimler Truck AG (“Daimler Truck”), today announced the milestone inauguration of its 300^th sales and service touch point in India. Coming closer to its customers, BharatBenz further expanded its sales and service footprint in the western region by adding 10 new BharatBenz touchpoints in partnership with Autobahn Trucking.

The 300^th touchpoint of BharatBenz network was inaugurated at Loni, a strategic location in the Pune – Solapur highway. The other newly inaugurated touchpoints are in Sangli, Baramati, Goa, Solapur, Malegaon, Alephata, Talegaon, Indapur and Kudal. Earlier this year, BharatBenz and Autobahn expanded their reach in Maharashtra by inaugurating sales and service touchpoints in Chakan, Nashik and Satara. The partnership is committed to opening a total of 25 touch points in the state by the end of 2022. BharatBenz touchpoints will provide comprehensive commercial vehicle solutions to vehicles plying in and through the region.

Mr. Rajaram Krishnamurthy, Vice President of Marketing, Sales, and Customer Service, Daimler India Commercial Vehicles, said, “We are excited to reach the 300^th milestone with Autobahn Trucking’s newest 3S facility in Loni, Maharashtra. Western India has been a strong region for our sales and Maharashtra has always been a performing market for BharatBenz. Expanding our network footprint with 10 new touchpoints at strategic locations will help us further cater to the increasing demand for BharatBenz trucks and buses and provide a world-class customer experience in the region.”

Currently, BharatBenz has 26 touch points in Maharashtra. Sales have exceeded 15,000 BharatBenz trucks and buses in the state since its inception. BharatBenz touch points are located at intersections of major National Highways across the state of Maharashtra, including the likes of NH3, NH4, NH6 and NH66. These highways are the lifelines for goods movements in the country connecting North India to South and West India to East.

“With this expansion, we now have over 160 service bays active in Maharashtra that are capable of servicing 5000+ vehicles a month. By the end of 2022, we will have 25 fully operational Autobahn Trucking touchpoints in the state, thereby reducing the average distance between two BharatBenz touchpoints in western Maharashtra from 150 km to 75 km approximately. The expansion is planned to address the increasing demand for BharatBenz products in the region and to demonstrate DICV’s firm commitment to the Indian market and the ever increasing community of BharatBenz,” Rajaram added.

Mr. Mohamed Farzad, Managing Director, Autobahn Trucking said, “”In addition to our strong network in Kerala, we are proud to expand and partner with BharatBenz in Maharashtra. In the last 7 months, we have already added 13 new touchpoints across Maharashtra and will reach 25 touchpoints by the end of this year. With the new BharatBenz dealerships, customers can be assured of the best sales advice and state-of-the-art ‘Proserv’ after sales support. With 450+ technicians onboard, we look to serve 30,000 vehicles per annum with 100 bays.”

“We are coming up with a state-of-the-art “Regional Training Center (RTC)” at Chakan to cater to the training needs of all west region DICV dealers. It is spread across a 7000+ sq.ft area and will take care of advanced and expert training of all technicians. This RTC will be a miniature replica of the Integrated Training Center at DICV, Oragadam,” he added.

BharatBenz dealerships are located on leading national and state highways, providing ease and flexibility to every type of customer. BharatBenz now has a total of 300 touch points strategically covering the length and breadth of India along national highways of the Golden quadrilateral North-South and East-West Corridors. BharatBenz’s reach of customers on these highways is under 2.5 hours.

October 17-19 event sought to bring together the best minds in the science field

The Thanu Padmanabhan Centre for Cosmology and Science Popularization (CCSP) at Shree Guru Gobind Singh Tricentenary University (SGT) University hosted a three-day conference, COSMOLOGY@CCSP_1, in hybrid mode, on the topic, ‘Current Status of Cosmology’. The symposium's objective was to bring together the pioneers and best minds in cosmology under one roof, to discuss the latest developments in this field and enlighten young cosmology researchers.

 

Cosmology, the study of the beginnings and evolution of the Universe, has witnessed significant advances in the last few decades, especially in the specialised domain of observational cosmology. COSMOLOGY@CCSP_1 saw both world-renowned experts and talented young cosmologists engage in fruitful discussions to achieve its ultimate goal – that of promoting research in science and familiarising the subject for today’s generation in cosmology. 

 

Among the prominent professors who took part in the conference were Naresh Dadhich, Sudhakar Panda, L. Sriramkumar, S. Tsujikawa, Leandros Perivolaropoulos and Salvatore Capozziello.

 

Sharing his views, Dr. Mohammad Sami, Professor and Director, CCSP, said, “The Centre for Cosmology and Science Popularization, which was recently established at SGT University, is a premier research centre which is focused on research at the intersection of cosmology and high-energy physics. And to have the opportunity to host COSMOLOGY@CCSP_1 has been a privilege, as the conference will help CCSP prove its credentials in the field of cosmology and related sciences. For, I believe that if the standard of research is high, that will be reflected in the quality of teaching.”

View article…

BANGALORE, India, Oct. 27, 2022 /PRNewswire/ — Movate (formerly CSS Corp), a digital technology and customer experience (CX) services provider, in association with the Technology Services Industry Association (TSIA), has released a co-authored report named 'Leveraging the Power of the Gig Economy'. The report uncovers the key challenges, strategies and recommendations for leveraging the gig workforce while also capturing the real-world benefits and success stories.

The pandemic-induced disruptions have irreversibly changed the workforce dynamics. As a result, the industry is seeing a rapid shift from traditional nine-to-five jobs to freelance or contractor positions, especially among millennials and Gen-Z. The co-authored report highlights how companies can stay ahead of the curve by opting for innovative workforce development and engagement models in the new normal. One such powerful approach is the 'Integrated Gig-Enabled Support Model,' which brings the best of both worlds, i.e., traditional and gig models, to deliver excellent customer experiences. This support model enables enterprises to tap into their existing pool of customers who have significant product knowledge and onboard them as gig peer experts for providing enterprise support to their fellow customers, thereby reducing or eliminating the costs for training and upskilling.

John Ragsdale, Distinguished Researcher and Vice President of Technology Ecosystems, TSIA, said, “Multiple surveys have shown that younger demographics prefer the flexibility of gig work, but B2B technology firms have so far been wary of this model. Multiple gig marketplaces for technology support have failed due to the inability to assess the skills of gig workers. The Movate OnDemand platform is an innovative take on talent management, and their model has eliminated the risk inherent in previous solutions. The platform is delivering immense value to tech companies, including multiple TSIA members.”

Sid Victor, SVP Sales and Solutions – Support Services at Movate, said, “The work-from-anywhere era has changed the long-held skepticism regarding a remote workforce's efficiency and dependability. Fuelled by the pandemic, the great resignation trend, mass layoffs, and uncertainty about a recession, there is a surge in businesses wanting to shift, adapt, and transform rapidly. At Movate, we have reimagined talent-as-a-service by leveraging our Movate OnDemand platform, a unique gig customer experience ecosystem that harnesses thousands of knowledgeable freelance talent who are alpha users of our customers' products. In this report, we have outlined the business tactics that enterprises can adopt to stay ahead of the curve amidst the changing dynamics of the modern services workforce.”

To read and download the full report, click here.

Movate has been a long-standing partner of the TSIA. The two organizations regularly collaborate towards the creation of thought leadership through event sponsorships, webinars, and research. Movate's SVP and Chief Marketing Officer, Vivian Gomes, also serves as part of TSIA's Partner Advisory Board.

UKG #6 in its category worldwide, top 5% of all 800 global companies ranked

 

UKG, a leading provider of HR, payroll, and workforce management solutions for all people, today announced that Forbes ranked UKG #40 overall on its World’s Best Employers 2022 list, among 800 companies, and #6 in the IT, Internet, Software & Services category. The honor follows UKG ranking #2 on Forbes America’s Best Employers 2022 list in the same category, and #18 overall, earlier this year.

“This honor is a testament to the culture of belonging we’re building together at UKG and the commitment and care of our employees and leaders worldwide,” said Pat Wadors, chief people officer at UKG. “Our purpose is people, and that purpose applies to U Krewers and their families as well as our customers and their people everywhere. Our aspiration as a company is to help people find fulfilment in their roles, feel a sense of purpose and belonging, and be net better off — personally and professionally — for having been part of the UKG family. We’re focused every day on providing tools and resources to enable that to happen.”

Leading benefits
At the heart of its people-centered purpose, UKG works to foster a companywide culture of belonging that empowers U Krewers to thrive at every stage of their careers, while finding purpose both in and outside of work. This includes a comprehensive global benefits program highlighted by:

·         100%-paid healthcare premiums for the majority of employees worldwide for medical, dental, and vision — including coverage for spouses, domestic partners, and dependents — with coverage for infertility treatments, gender affirmation surgery, and surrogacy reimbursement, where allowed

·         A 45% dollar-for-dollar match on employee retirement-fund contributions in the U.S. and Canada, as well as retirement-matching programs worldwide

·         Student loan repayment assistance and tuition reimbursement

·         Financial support for employees during times of adversity and immense need via the PeopleInspired Giving Foundation, a 501(c)(3) organization providing U Krewers and their family members with access to financial-relief grants

·         Fully paid parental leave and financial assistance for adoptive parents

·         Annual stipends for parents’ childcare expenses and their children’s extracurricular activities, as well as a global college scholarship program and free online tutoring for children of employees

 

Developing great leaders

Because UKG believes every employee deserves a great manager, the company conducts a biannual, companywide Manager Experience (MX) assessment as part of its global U Krew Experience (UKX) employee engagement survey. The MX assessment consists of 15 questions answered by every employee about their direct leader’s behaviors to drive engagement, inspiration, innovation, career development, work-life balance, and belonging. Companywide results from the UKX survey and MX assessment are shared with all employees, and then people leaders share their individual MX and UKX results with their teams, and then create an action plan for improving in areas of opportunity.

ERGs: Uniquely you, uniquely valued
UKG also offers eight employee resource groups (ERGs) as part of its “Uniquely You, Uniquely Valued” global diversity, equity, inclusion, and belonging program for all U Krewers. These include:

·         ADAPT (Accessibility and Disability Allies Partner Together) — raising awareness around people with different abilities

·         AsPIRE (Asians and Pacific Islanders Raising Equity) — building an equitable community where members feel safe, seen, heard, and part of one Ohana (family)

·         BUILD (Black U Krewers in Leadership and Development) — fostering inclusion and advancement for Black employees at all levels of UKG

·         CARES (Cancer, Awareness, Resources, Education, and Support) — creating a community where people do not have to walk alone in the cancer fight

·         FIRE (Female Inclusion, Resilience, and Excellence) Up — cultivating an inclusive, supportive community of change through the power of growth, allyship, and networking to advance equity for all women

·         PRIDE at UKG — driving inclusion for members of the LGBTQIA+ community, allies, and all U Krewers

·         UNIDOS (Uplift, Network, Impact, Develop, Orgullo, and Support) — uniting the Hispanic and Latinx community and its allies

·         UKG VETS — supporting military veterans, their families, and their friends, along with UKG colleagues and supporters of veterans

To determine rankings for the World’s Best Employers 2022 list, Forbes partnered with Statista to conduct an independent survey of approximately 150,000 employees across 57 countries. The evaluation was based on direct and indirect recommendations from employees who were asked to rate their willingness to recommend their own employers to friends and family.

“Today is another proud day for UKG and our more than 15,000 U Krewers worldwide,” said Chris Todd, CEO at UKG. “Our goal as UKG has always been twofold: to become one of the greatest people companies in the world and to help companies everywhere create great workplaces for their own people, guided by UKG’s purpose-driven HCM and workforce management solutions. It gives me great pride to see that nearly half of the top 100 World’s Best Workplaces are also UKG customers. People are the cornerstone of every successful business, and we will continue to support organizations everywhere in serving their employees, customers, and communities so they can become great places to work, too.”

Coca-Cola Reports Third Quarter 2022 Results

and Raises Full-Year Guidance

Global Unit Case Volume Grew 4%

Net Revenues Grew 10%;

Organic Revenues (Non-GAAP) Grew 16%

Operating Income Grew 7%;

Comparable Currency Neutral Operating Income (Non-GAAP) Grew 18%

Operating Margin Was 27.9% Versus 28.9% in the Prior Year;

Comparable Operating Margin (Non-GAAP) Was 29.5% Versus 30.0% in the Prior Year

EPS Grew 14% to $0.65; Comparable EPS (Non-GAAP) Grew 7% to $0.69

The Coca-Cola Company today reported strong third quarter 2022 results as the company continued to build on the momentum from the first half of the year. “Our strong capabilities and consumer insights continue to help us win in the marketplace,” said James Quincey, Chairman and CEO of The Coca-Cola Company. “Our business is resilient amidst a dynamic operating and macroeconomic environment. We are investing in our strong portfolio of brands, which is a cornerstone of our ability to deliver long-term value for our stakeholders.”

 

Overall Highlights Quarterly Performance:

• Revenues – Net revenues grew 10% to $11.1 billion, and organic revenues (non-GAAP) grew 16%. Organic revenue (non-GAAP) performance was strong across operating segments and included 12% growth in price/mix and 4% growth in concentrate sales.
• Margin – Operating margin, which included items impacting comparability, was 27.9% versus 28.9% in the prior year, while comparable operating margin (non-GAAP) was 29.5% versus 30.0% in the prior year. Comparable operating margin (non-GAAP) compressed as strong topline growth was more than offset by the impact of the BODYARMOR acquisition, higher operating costs, an increase in marketing investments versus the prior year, and currency headwinds.
• Earnings per share – EPS grew 14% to $0.65, and comparable EPS (non-GAAP) grew 7% to $0.69. Comparable EPS (non-GAAP) performance included the impact of an 11-point currency headwind.
• Market share – The company gained value share in total nonalcoholic ready-to-drink (NARTD) beverages.
• Cash flow – Cash flow from operations was $8.1 billion year-to-date, a decline of $1.2 billion versus the prior year, as strong business performance was more than offset by the impact of cycling the timing of working capital benefits in the prior year and higher 2021 annual incentives in the current year. Free cash flow (non-GAAP) was $7.3 billion, a decline of $1.2 billion versus the prior year.

 

India Specific Pointers:

 

·         We drove 2.5 billion transactions in India at affordable price points through the expansion of returnable glass bottles and single-serve PET packages.

·         Sprite has grown to become a billion-dollar brand in the market, driven by the success of locally adapted, occasion-based global marketing campaigns and screentime.

·         Category-led performance:

o   In India, we continue to strengthen the first half of the year as we gain share in sparklings offerings. Trademark Coke delivered strong growth through effective execution and occasion-based marketing.

o   Sparkling soft drinks grew 3%, driven by growth across all geographic operating segments, primarily led by India, Mexico and China. Trademark Coca-Cola grew 3%, driven by growth across all geographic operating segments. Coca-Cola® Zero Sugar grew 11%, driven by low double-digit growth across developed markets and high single-digit growth across developing and emerging markets. Sparkling flavors grew 3%, led by Asia Pacific and Latin America.

o   Nutrition, juice, dairy and plant-based beverages were even, as growth led by Minute Maid Pulpy in China, Maaza® in India and fairlife® in the United States was offset by declines primarily in local brands in Eastern Europe.

·         Asia Pacific: Unit case volume grew 9%, driven by strong growth in India and China. Growth was led by sparkling soft drinks and hydration.

 

Company Updates:

 

• Leveraging strong revenue growth management capabilities to meet consumer needs – In an environment where consumer preferences are rapidly evolving, the company is focused on expanding its offerings to fit all consumers’ budgets. The Coca-Cola Value Bundle, which was launched in North America during the third quarter, is an example of how the company is offering more choices to cost-conscious consumers. The bundle features an assortment of core sparkling brands at relevant and competitive price points. By utilizing end-to-end messaging across platforms, these offerings are retaining and recruiting more consumers while creating value for our customers. Additionally, the company is balancing the mix between affordability and premiumization, while driving pricing actions in the marketplace in response to ongoing cost inflation.
• Turning insights into global brand experiences – The company continues to engage and attract consumers through globally scaled marketing campaigns driven by consumer insights. The “What the Fanta” marketing and innovation platform is an example of how the company is executing with its global networked marketing partner to identify and scale what resonates with consumers, from taste to brand experiences. Now launched in over 30 markets globally, the experience-driven platform is designed to spark adventure and intrigue through bold innovative flavors complemented by social media campaigns and multi-channel activations.
• Strategically expanding in emerging categories – Since entering into the ready-to-drink (RTD) alcohol beverages category in 2018 with Lemon-Dou in Japan, the company has continued its test-and-learn approach with disciplined experiments around alcohol occasions globally. The company is leveraging brands with strong credentials, such as Topo Chico®, while adding to the existing portfolio of Schweppes® premium adult cocktail mixers and tonics. This year, Simply Spiked LemonadeTM and FrescaTM Mixed were introduced in the United States through brand authorization agreements with Molson Coors Beverage Company and Constellation Brands, Inc., respectively, and both offerings are seeing encouraging early results.
• Increasing water security through collaboration and collective action – The company continues to focus on collaborating with businesses and nongovernmental organizations to create a more sustainable and better-shared future. During the quarter, at World Water Week 2022, the company focused on how corporate water stewardship can drive collective action to help address water challenges. Over the past two years, the company has stepped up investments in nature-based water solutions as an important part of its 2030 Water Security Strategy.

 

Key Takeaways:

• Corporate gifting has seen a tremendous annual growth of over 80% post-pandemic.
• The market share of corporate gifting has soared to about 23% as against 10% before the pandemic disruption.
• The last two years have accelerated the adoption of merchandised corporate gifting with 74.3% of respondents saying that increase in the trend is owed to remote work culture.
• Companies have increased their gifting budget by around 15% with an average ticket size per gift of Rs 5,000 per employee/annum, while it was earlier Rs 3,000.

HYDERABAD, India, Oct. 25, 2022 /PRNewswire/ — eYantra Industries, India's largest B2B merchandising and corporate gifting brand, has today released its Corporate Gifting and Trends 2022 on the evolving culture of corporate gifting triggered by remote work setup. The report covers over 2500 employees, HR leaders, and CEOs with details of the growing importance of merchandising in corporate gifting culture, the latest trends, and the ideal time to invest in corporate gifting. According to the report, the Indian gifting market is estimated to be worth Rs 2,50,000 cr, of which corporate gifting is pegged at Rs 12,000 cr.

With the global work landscape shifting to hybrid and remote models, corporate gifting has evolved as a mechanism for businesses to stay connected with their workforce, clients, and partners. Also, B2B merchandising has become an integral part of corporate gifting as brands are increasingly using it to personalize their gifts. Corporate gifting has seen a massive turnaround in terms of gifting frequency and spending led by changed work models, shifts in gifting behavior and emerging gifting occasions. Employers are witnessing significant gains in improving employee productivity and building lasting bonds with clients. About 80% of respondents claimed to have seen gifts improve connections with clients and employees, while 48% described it as 'substantial benefits'.

Archana Purohit, CEO of eYantra Industries, said, “The culture of corporate gifting is humanizing businesses like never before. It is also resonating brilliantly with both employees and clients as they feel cherished. The flip side of growing prominence of corporate gifting is the challenge of finding the ideal gift. This report is intended at helping companies unlock the secret to merchandising and corporate gifting by highlighting the key trends and the best way to leverage this evolving culture. Our findings revealed that a majority of employees desire a large number of choices, which are also personalized. While festive gifting stands with the highest budget, employee joining kits are gaining significance owing to employers wanting to woo and delight the new workforce.”

Four Top Corporate Gifting Trends To Follow:

Gifting is tough. It is tougher to find a gift that gets everyone excited. Clearly, corporate gifting cannot be a one-size-fits-all proposition. This is the part where most companies struggle and tend to experiment. After eYantra's extensive research, the findings suggest four key trends and practices in corporate gifting that will help companies offer a memorable gifting experience.  

Choice-based gifting

Businesses are distancing themselves from the earlier practice of gifting mass-produced generic t-shirts and stationery. The focus today is on experience, and merchandising has an important role to play. About 88% of respondents stated that they desire high-quality and personalized gifts, along with a variety of choices.

Festive gifting

Festive occasions like Diwali and Christmas continue to maintain dominance with 32% of respondents saying that they are prime corporate gifting events. Employee onboarding follows closely with 26% saying that it is a crucial occasion in the wake of changing work culture and the necessity to attract talent. A personalized and thoughtful gift translates into employer recognition for fresh talent to join the organization.

Merchandised gifting

Corporate gifting has gained strategic importance for businesses in not just appealing to clients but also top talent. As such, companies are increasing their gifting budget by 25%. While the popular per-gift budget range is Rs 500 – Rs 2000, companies are not shying away from shelling big bucks for gifting. 17% of respondents stated that their gifting budget is between Rs 2000 – Rs 5000 per employee or client per gift.

Eco-friendly Gifting

One of the many things that the pandemic has taught everyone is to value the environment, and this learning has clearly extended to gifting culture. 8 out of 10 respondents want to purchase environment-friendly gifts. This has companies moving to a minimum to zero-waste gifting and packaging options. It also adds to the company's sustainability stand. 

“Corporate gifting is all about building an emotional bond, which can be done perfectly with personalization. Our study found that 8 out of 10 individuals preferred eco-friendly gifts driving a shift to zero-waste gifting and packaging options. It's also interesting to see that companies are willing to bear the costs to show that they care about their employees and clients. It is evident from the increase of more than 65% in ticket size per gift to Rs 5000 per employee per annum from earlier ticket size of Rs 3,000 per employee per annum,” Archana Purohit added.

B2B merchandising and corporate gifting are likely to see a consistent upward trend if not exponential with a growth rate of about 23%. This is primarily because hybrid and remote work models are becoming a norm. Also, companies are realizing that employee recognition and client delight are the tenets of a successful business. eYantra Industries is poised to support the growing demands and customizations of Indian corporate gifting by offering an innovative merchandising platform to build a strong and lasting relationship between employers and their clients and employees.