Archives February 2023

Mumbai, February 09, 2023: Arkade Group today announced it has completed the acquisition of approx. 8300 Square meters plot in the Eastern suburb of Mulund West from Hercules Hoists Limited (Bajaj Group Company). Significantly, this is the first transaction in this CY 2023 in Mumbai for the transfer of land of above Rs 100 crore.

Arkade has also perused the document pertaining to the registration of the conveyance deed done at Chembur, on February 07, 2023. The composite deal value of the deal is Rs. 103.40, which includes transaction value of Rs 90 crore plus stamp duty of Rs 5.40 crore and ULC payment of Rs 8.00 crore. The sale deed shows that payment is made in full and possession is transferred to the buyer.

Sharing details of the transaction, Amit Jain CMD, Arkade Group, “We are looking forward to launching an exclusive residential project offering 2 & 3 BHKs with a construction area of approx. 5,00,000 square feet and a topline of Rs. 600 Crore. This acquisition is in addition to the two million sq. ft. development ongoing across Western suburbs” under the Arkade banner. This deal reassures the belief in Mumbai Real Estate Market which is witnessing an upward trend post-lockdown.

Mumbai, 09 February 2023: foundit (formerly Monster APAC & ME), one of India’s leading talent management platforms, today published the foundit Insights Tracker (fit) for January 2023. Hiring activity in the Indian white-collar space recorded a slight dip of 2% month-on-month, as observed in the fit. Despite facing numerous challenges and trying times in the global economy, many industries in India have showcased commendable resilience and growth.

With the announcement of the 2023 Budget, the employment outlook for the Indian job market remains optimistic with huge potential for growth and economic progress in the months to come. Key industries such as Retail, Travel & Tourism, Advertising/PR, and Agro have exhibited continuous growth, with the report reflecting a 6% growth in job posting activity over the last 3 months. Year-on-year, a decline of 2% was registered as January 2023 saw an index of 277. This dip can be attributed to the hiring slowdown in sectors such as IT, BFSI, Telecom, Manufacturing, and Healthcare.

Interestingly, the Tracker has observed a resurgence in the job market for entry-level and intermediate positions, particularly in the HR/Administration and Purchase/Logistics/Supply Chain sectors, after a temporary dip in the recent months.

Commenting on job trends for September 2022, Sekhar Garisa, CEO – foundit (previously Monster APAC & ME), a Quess company said, “The Union Budget 2023 has identified the acceleration of growth and job creation as key priorities for economic development, while undoubtedly reiterating the need for Indian youth to be skilled and employable. The government’s impetus towards the creation of jobs in tourism as well as the green economy holds expansive potential. Along these lines, foundit has noted a 64% growth in demand for green jobs since January 2022 and this growth is expected to continue. Upskilling measures in niche areas like coding, artificial intelligence, robotics, mechatronics, and Internet of Things (IoT) will enable a pool of opportunities in the upcoming months allowing for expansive adoption of tech across all sectors.”

Retail and agro-industries continue to hire while IT, BPO, and Telecom witness a slowdown

In January 2023, Retail (+8%) and Agro-Based (+7%) industries showcased the highest job posting activity on a month-on-month basis. Personalisation and omni-channel innovations through the adoption of advanced analytics, automation, and complex inventory systems have created a tech-focused pool of opportunities in retail with analytical skills high in demand. In fact, the Tracker reflects that Retail was the top industry with hiring growth of 19% on a year-on-year basis as well.

Job prospects for the agro-industry continue to soar and this is expected to grow considering recent Budget allocations supporting the growth of Agri-Tech players. Travel & Tourism (+5%) continued to hire on a monthly basis and even showed remarkable growth from the previous year at 15%. Keeping in mind the tourism push in the Budget with ‘Dekho Apna Desh’ and similar initiatives, it is safe to say that Indian tourism will steadily pick up in the months to come. Other industries such as Oil/ Gas/ Petroleum, Power (+6%), Ad, MR & PR (+6%), Import/Export (+3%), and BPO/ITES (+2%) reflected similar trends (Jan 2023 vs Dec 2022).

However, Production & Manufacturing (-8%) noted a drop in hiring intent, as did Healthcare (-7%), IT Hardware & Software (-7%), Telecom (-5%), and BFSI (-3%). While Indian IT faces a lull due to global macro conditions and course correction from last year’s hiring surge, production hiring was impacted due to cost pressures and a rise in input prices. BFSI, which had continuously monitored positive hiring numbers, has noted a marginal dip of 1% annually. That being said, tech skills are still in high demand by recruiters across all sectors.

Hiring dips across several metro cities

City trends indicate that Chandigarh recorded a growth of 1% month-on-month in January 2023, and Delhi-NCR, Kochi, and Ahmedabad saw stabilized hiring demand. While Mumbai, Bangalore, Pune, and Jaipur witnessed a marginal hiring drop between 1-2%, metro cities such as Hyderabad (-5%), Chennai (-5%), and non-metro cities such as Kolkata (-8%) and Coimbatore (-5%) recorded a greater fall in demand for talent due to the dip seen across multiple industries.

Demand for Logistics personnel adept in tech skills grows

Jobs in HR and Admin (+5%) showed a positive outlook as companies aim to sustain human resource planning, employee welfare, L&D, and recruitment practices. Interestingly, hiring for Purchase, Logistics, & Supply Chain (+3%) professionals saw a rise as India Inc. looks to build resilience through tech-enabled resilient supply chain ecosystems. Engineering & Production (+3%) and Marketing & Comms (+1%) professionals reflected positive demand growth as well.

However, owing to the recruitment dip across BFSI, IT, and similar industries, demand for Finance & Accounts, Software Hardware Telecom, Healthcare, and Customer Service roles tumbled by 3-5%.

Hybrid work model continues to prevail across key sectors

Post-pandemic, several work models were introduced globally, helping organisations stay afloat through testing times. Three years in, workforce and workplace dominate many debates and conversations with continuous shifts in employee and employer preferences. Pre-pandemic, foundit recorded a total of 8% work-from-home (WFH) jobs on the portal, whereas this number spiked up to 72% during the pandemic. In 2022 as many companies moved back to offices implementing newer models, the concept of hybrid working came up which offered flexibility and work-life balance to employees. Hybrid jobs held a 40% share of total job postings on foundit in 2022, while the share of remote jobs went down to 18%.

A look at current-day trends indicates that as of January 2023, hybrid jobs take up 29% share of total job postings indicating that this work model is still widely adopted and preferred by many. However, the share of remote jobs has slid down to 11%, which is a smidge higher than pre-pandemic levels.

Indian IT, which held the highest share of remote jobs on foundit (74% in 2022) also saw a drop in remote and hybrid jobs to 58% in January 2023. However, it is noteworthy to mention that the industry still contributed to over half of the total number of remote (23% share) and hybrid (35% share) jobs on the platform.

By Mr. Filip Cotfas, Channel Manager, CoSoSys

Several in-depth market reports were released in 2022, predicting the state of the DLP market in 2023 and beyond. The news is that they all predict similar market dynamics for the upcoming years – steady growth. The reasons why steady DLP market growth is expected.

All reports point towards steady DLP market growth in the next few years, but they rarely explain the factors behind such reasoning other than showcasing the numbers. What we did to complement that is we’ve identified three key data security and data loss prevention market drivers that are clearly visible around the world and that may have an impact on the global data loss prevention market, DLP solution functionality developments, as well as on the organizations deciding that it may be a good time to invest in this class of cybersecurity tools and stakeholders interested in investing in DLP initiatives.

1. Remote/hybrid work – increased risks of accidental exposure

The sudden switch to the remote/hybrid work model was initially regarded by businesses as a temporary measure to mitigate the COVID-19 impact. Who could have known that so many of us would find that model much more appealing than working on-premises and it would be here to stay?

During the time of the pandemic, when businesses had to very quickly switch to the remote model, there were a lot of urgent needs that had much higher priority than additional data protection measures, for example, secure communication with internal company assets. Now that the situation has stabilized and solutions have been introduced for the most pressing issues, it’s time to expand the security infrastructure around the new work model.

Unfortunately, a remote/hybrid work model brings a lot of new threats to company data. Many businesses attempt to resolve this by introducing harsh restrictions for company-owned devices, but this doesn’t eliminate such threats:
If the user has no restrictions on their business device and is able to mix work with personal activities such as social media or private email, there is a high risk that they will share some sensitive company information by mistake using these platforms.

On the other hand, if you prevent the user from using private software and/or social media on your company devices, they will be more likely to move data between their private and work computers using, for example, USB drives or transferring information using private and company email addresses or private cloud storage.

No matter how you solve this, you have to accept that your employees are now out of your direct control and often mix work with their private lives. Therefore, the risk of accidental exposure to sensitive data is much higher than before. This urgently calls for data loss prevention.

Takeaway: Due to the increased risk of accidental exposure of sensitive data in a remote/hybrid work model, the need for DLP solutions increases, and such solutions must focus on end-user activities. Therefore, we expect DLP solution growth trends to focus on end-user devices.

2. Recession – more incentives for data breaches

The pandemic-related lockdowns were already financially difficult for many businesses. However, nobody expected that right after COVID-19 phases out, we would face even more financial crises and stalled market growth. Calling the recent developments in the world’s political situation volatile is an understatement. The ongoing political situation affects key markets, causing prices to rise globally, especially in Europe. We’re seeing the beginning of a major recession period, and it’s difficult to estimate its ultimate effects on businesses. One thing is for sure, though – people are suffering.

Faced with food prices and energy costs going sky-high, people need more money to survive. At the same time, businesses cannot afford to match the rise in prices as they are affected by diminishing growth rates and increasing costs as well. As a result, we can already see mass layoffs in large enterprises and SMBs. This means there’s already quite a lot, and there are going to be even more people out there who will consider questionable financial incentives. This also means that there will be more businesses that would be willing to go beyond what’s legal and ethical to gain an advantage in the competitive landscape.

A well-implemented DLP solution may provide early warning against internal and external threats leading to the loss of data. In 2023, businesses may need to shift their focus even more from accidental data loss to intentional inside threat actors and attacks such as spear phishing. And this means that DLP solutions will need to serve as an early warning system for any type of suspicious activity by the remote/hybrid employees as well as a lifebuoy for targets of well-prepared attacks.

Takeaway: Due to the recession and increase in data breaches, internal threats will become an even bigger concern, and DLP software will need to serve as an early-warning system for organizations to prevent intentional data breaches. It will also be instrumental in preventing the consequences of well-prepared spear phishing attacks coming from criminal organizations.

3. Compliance – growing requirements in response to increasing threats

Industries where data is of utmost importance, such as the healthcare and financial sectors or military/aerospace, are already facing a lot of compliance requirements that translate to the need for solutions such as DLP. However, with the continuous expansion of threats and risks, compliance practices are expected to ensure the safety of sensitive data further. This means we can expect more compliance standards to emerge, including in industries unaffected by such requirements. On the other hand, we can also expect current compliance standards to become stricter with time to ensure even better data protection.

Many businesses already face the legal necessity to purchase a data loss prevention solution to maintain such compliance. Introducing such solutions at the last moment, just to meet the requirements, is not the best idea, and so many businesses will hopefully decide to strike pre-emptively and implement DLP before it becomes required.

Takeaway: What may now be open to interpretation in compliance standards related to cybersecurity may soon be stated clearly, rushing organizations into adopting specific solutions such as DLP. On the other hand, DLP providers should be ready to adjust to cover any new standards emerging, even for currently non-regulated industries.

As an estimated 474 million tourists traveled internationally between January and July 2022 compared to 175 million in 2021, international tourism continues to bounce back.

But how will we travel in 2033? A global research study – Traveler Tribes 2033 – the third in a series that launched in 2007, identifies four Traveler Tribes that will develop in the next 10 years. It does so by examining the future forces of change transforming travel, alongside emerging traveler traits, behaviors and preferences, to understand exactly what it is that travelers will want a decade from now.

It suggests many travelers will be open to new and emerging technologies and will want to travel in more sustainable ways. But with some travelers concerned about the proliferation of technology and the increasing need for cyber-security and data privacy, the industry must work together to ensure all travelers benefit from technological advances.

“In a constantly evolving travel industry, the advent of emerging technologies and changing consumer preferences is making the travel ecosystem more diverse, and at the same time, complex. Our Traveler Tribes 2033 report is a ground-breaking study that provides valuable insights about traveler preferences and an outlook of how their distinct characteristics and personalities will shape the future of travel in India and around the world”, said Mani Ganeshan, Global Head of Engineering, Travel Sellers Unit and Centre Head, Amadeus Labs Bangalore. “Traveling is one of the greatest joys of our lives and Amadeus is here to ensure that every touchpoint in the travel journey is seamless to enhance travel experiences. Revealing the Traveler Tribes is an opportunity for the Indian travel industry to understand traveler preferences and collectively innovate to better meet the needs of travelers over the next decade.”

Moving beyond the limitations of traditional segmentation, this psychographic approach identifies four key Traveler Tribes likely to be dominant in 2033:

• Excited Experientialists – This group has a ‘try it and see’ approach to life and travel. 44% are without children and have a mid- to high-income job with flexible working options, which enables them to readily explore the world. They have a you only live once (YOLO) approach. They are more likely than other travelers to act on instinct, making them 2033s ‘anti-planners’, favoring less predictable and more exciting accommodation experiences. They are also open to technology that helps them ‘speed up’ certain aspects of their journey, with many expecting to use artificial intelligence (AI) in the airport environment. 32% Indian respondents identified themselves as excited experimentalists.
• Memory Makers – This group takes a more simplified approach to travel: to make memories and visit places. 44% are aged 42 and over and are habitual in their travel behaviors. The future can be a daunting prospect for them. They put people first and place less value on technology and sustainability, reassured by existing methods. However, despite their skepticism about technology, they are excited about virtual reality (VR) and augmented reality (AR) preview tours with the majority expected to use VR tours before purchasing a trip. 9% Indian respondents identified themselves as memory makers.
• Travel Tech-fluencers – 19% identified themselves as travel tech-fluencers. this group includes today’s young business travelers with a forward-looking perspective on life. 48% of the group are under the age of 32 and their perspective is symbolized by how much technology they own. However, there is a discord when it comes to what excites and concerns them around the future of technology and travel. While many want to travel sustainably, it seems they are more conscious about sustainability options around their method of travel, rather than where they’ll be staying. 19% Indian respondents identified themselves as travel tech-fluencers.
• Pioneering Pathfinders – Individuals in this group live a fast-paced life, always looking for their next adventure. Their life is in full swing with 82% between the ages of 23 and 41. They like to plan but are not afraid of risk and are open to new experiences. This group is more willing than others to let sustainability influence their decisions. They will also be very comfortable using all forms of alternative payment methods in 2033, whether via cryptocurrency or within a virtual reality environment. 40% Indian respondents identified themselves as pioneer pathfinders.

This is the third in Amadeus’ Traveler Tribes research initiative, the first launched in 2007, the second in 2015. It is part of Amadeus’ commitment to driving innovation at scale and making travel better for travelers and travel companies everywhere.

Jack Miles, Lead Researcher and Senior Director, Northstar: “Future predictions are difficult, especially in travel. This is because travel is about humans and how they think and behave – all of which are complex as people aren’t always rational. However, using extensive traveler research based on behavioral science and consumer psychology, expert insight from diverse fields like forecasting, technology and academia, and data-analytics, this study has uncovered many insights to help understand travelers and predict their future behavior. From the importance and challenge of sustainability to the need to reassure travelers about the changing role of technology, one thing is clear, travel will continue to play a vital role in enriching our lives as we head towards 2033.”

To read more about the research and identified Traveler Tribes, please click here or visit amadeus.com/traveler-tribes.

TAKE OUR QUIZ to find out which Traveler Tribe you are part of.

HDMI 2.1 delivers increased bandwidth to support higher resolutions and boosted framerates.

Dubai, UAE – 8th February 2023: Gaming display specialist AOC have announced the release of two new gaming monitors, the U28G2X/D and the G4309VX/D, both supporting the new HDMI 2.1 standard for higher resolutions and better framerates. It is now available in the Middle East, these monitors bring blazing-fast refresh rates as well as razor-sharp imagery perfect for mainstream and hardcore gamers.

HDMI 2.1: Expanding the limits of possibility

The new version of this connector features an amazing 48Gbps transmission bandwidth that brings faster refresh rates and higher resolution. HDMI 2.1 also allows gamers to experience 4K 120Hz gaming on the PlayStation 5 and the Xbox Series X. HDMI 2.1 is backwards compatible with all previous versions, meaning that older devices will work with the new port.

AOC U28G2X/D: Brilliant Visuals

The new AOC U28G2X/D delivers the best visuals thanks to its 4K (3840 x 2160) screen resolution. An IPS display provides 178/178 viewing angles without compromising visual quality and colour uniformity. A 144Hz refresh rate and 1ms response time also eliminates screen blur, perfect for an intense esports tournament.

Moreover, the monitor supports AMD FreeSync Premium, which keeps the monitor’s refresh rate synched with the processor effectively eliminating stuttering and tearing when playing fast-paced games. The monitor also brings DisplayHDR 400, which delivers incredible brightness, contrast, and colours. To ensure a healthy viewing experience, a Low Blue Mode setting is provided to avoid strain on the eyes without affecting the image quality.

AOC G4309VX/D: Ultimate Immersion

Brandishing a 43-inch gaming monitor with 4K (3840 x 2160) resolution, the AOC G4309VX/D offers plenty of pixels and a large screen to showcase more detail for sharper images. It brings a 144Hz refresh rate that conforms to the latest esports gaming standard and eliminates screen blur for the best gaming experience. This monitor also brings AOC flicker-free technology to minimise eye fatigue.

Adaptive sync technology also means that each game you play is fluid and artefact-free made even better with the quick refresh and ultra-fast response time. Multitask like never before with Picture-in-Picture and Picture-by-Picture, where content is fine-tuned from different inputs that makes it easier for you to work on multiple projects simultaneously.

“We’re excited to bring these new gaming monitors to the Middle East market,” said Pankaj Budhiraja, Category Manager – Middle East & Africa. “AOC has always been at the forefront of display technology. The launch of the AOC U28G2X/D and the AOC G4309VX/D with HDMI 2.1 support further proves our commitment to all casual and professional gamers in the region,” he concluded.

The AOC U28G2X/D and the AOC G4309VX/D will be available through AOC’s distributors in the Middle East and comes with a 3-year warranty. The monitors are available with SDC FZE in UAE, DAR Technical General trading in Kuwait and Ibda technologies in Saudi Arabia.

Mumbai/Pune(S.N) – IKEA India has lowered prices for many of its products without an end date as part of its long-term steps to make home furnishings more affordable and accessible for the Indian market. It is applicable for both its offline and online offers.

Considering recent unprecedented situations such as the pandemic, rising costs of living, supply chain disruptions, and increased inflation, IKEA India has taken a step further to restrengthen its affordability agenda. These concerns were also highlighted by most Indians in IKEA’s Life at Home report 2022. The company announced lower prices for products across categories including store and organise furniture, storage solutions, living room seating, bedroom furniture, office storage, kitchen accessories, children’s storage, etc. This is a long-term initiative for IKEA to strengthen its affordability agenda. The prices of these products have been reduced starting from 16% to as much up to 39%. This initiative is aligned with IKEA’s omnichannel experience for the consumers as the low prices are also reflected in their food offerings and services.

Susanne Pulverer, CEO & CSO, of IKEA India said, “At IKEA we believe that everyone should be able to afford home furnishing products and solutions to be able to create homes they love. We are constantly challenging ourselves to find new ways to keep production costs as low as possible without compromising on design, function, quality, sustainability, health, or safety. Local sourcing, new & innovative solutions & materials, construction techniques, distribution, and transportation are some of the ways that help IKEA keep a competitive price point. We will continue to invest in creating a positive impact on society and the economy.”

IKEA India offers over 1100 products below 200 INR to become more affordable and accessible to many people. You can buy your favorite IKEA products at lower prices at any of their stores in Hyderabad, Mumbai, and Bengaluru, from their online store or the IKEA app.

Anuj Puri, Chairman – ANAROCK Group

The 25 bps rate hike is much along the expected lines. With repo rates now at 6.5%, there could be some repercussions on housing uptake as home loan interest rates will head further north. The rates had already crept up after five consecutive rate hikes over the last year. This will add to the financial burden on homebuyers as apart from home loan interest rates, property prices have also inched up in the recent past two to three quarters.

Given that interest rates may breach the 9.5% mark with today’s hike, we may see some pressure on sales volumes in the affordable and lower mid-range housing segments, which are more cost-conscious. The affordable segment has already been in the doldrums and adding further to the cost of acquisition obviously does not help.

That said, the Indian housing market continues to be largely end-user-driven – and end-users, unlike investors, focus less on ROI and more on the perceived value of homeownership. Furthermore, commodity prices are now falling and inflation is moderating. As such, we are unlikely to see any hikes in the near future, which will be positive for the housing sector in the times to come.

The monetary policy impacts real estate demand in several ways. When the central bank raises interest rates, borrowing costs for buying real estate increase, which can reduce demand for housing. Conversely, when interest rates are low, borrowing costs are lower, and demand for real estate may increase. Also, an expansionary monetary policy, which increases the money supply, can lead to increased consumer spending and borrowing, potentially driving up demand for real estate.

Finally, confidence in the economy is closely tied to monetary policy. When the central bank is seen as effectively managing the economy and maintaining stability, it can increase consumer confidence and demand for real estate.

Hyderabad, February 8th, 2022 – NASSCOM, the premier trade body and chamber of commerce of the Tech industry in India, has today hosted an insightful panel on the democratization of software development through Low Code and No Code technology. The tools gained massive acclaim worldwide for their ability to simplify software development. The NASSCOM panel scrutinized how LCNC is reshaping software development through its ability to deliver new capabilities with lower dependence on developers. Quixy, a leading No-Code technology platform from Hyderabad, in its expert capacity, was invited to share insights on the phenomenon of citizen development and to break down the myths surrounding this novel technology.

During the panel, Mr. Guruprasad Pammi, Head, of Customer Success, Quixy, said “There’s a rapidly growing receptivity in India and overseas for no-code technology owing to its efficiency. At Quixy, we have recorded a growing trust from customers, who have evolved from deploying no-code for simple use cases to more complex and integral functions. Quixy works with over 15 industries that have exploited novel technology to digitize their functions in the nimblest and most cost-efficient way. It is crucial for the government and the IT ecosystems across industries to leverage the opportunities for growth posed by LCNC technologies.”

The panel also witnessed the active participation of Mr. Siddhartha Mohanty, Co-founder & CTO, ARETEANS, and Mr. Manne V. Chowdary, Founder & CEO, AmpleLogic. The panel also widely discussed the success stories born out of the incorporation of NCLC technology into organizational functions.

Pune(S.N): Global Alliance for Mass Entrepreneurship (GAME) has launched its program to build the capacity of women entrepreneurs (Wes) to access finance and strengthen their enterprises. In October 2022, GAME formally signed an MOU with NRLM to launch a Women Entrepreneur Empowerment Program in 3 States of Maharashtra, Madhya Pradesh, and Rajasthan to support over 10,000 women entrepreneurs with access to credit across 15 districts in the 3 states.

The program will be initially supported by strengthening National Rural Livelihood Mission (NRLM) and State Rural Livelihood Mission (SRLM) architecture through capacity building and augmentation, training existing field cadres called Vitta Sakhis. The program also entails supplementing the existing NRLM (National Rural Livelihood Mission) training protocol and using it to train 3000 Vitta Sakhis, who will support potential entrepreneurs from among women SHG members to take up viable business enterprises.

The trained Vittal Sakhis will review compliance and eligibility of NRLM and SRLM (State Rural Livelihood Mission) identified women entrepreneurs. They will also mentor and help develop business plans to formalize their enterprise, as well as secure financial linkages. This program will also enlarge the narrative to establish a comprehensive onboarding process for financial institutions such as Public Sector Banks and Regional Rural Banks to unlock formal credit for the identified women entrepreneurs in rural areas.

GAME has collaborated with Haqdarshak to roll out this program in the 3 States. The collaboration is for a year and aims to link 10,000 women entrepreneurs with format credit.

Madan Padaki, Co-founder, of GAME said, “Our mission is to build a mass entrepreneurship movement that focuses on women specifically through a series of focused interventions and ecosystem support. Our MoU with NRLM in three states seeks to create a local ecosystem that supports women, by addressing issues with access to financing and assisting in realizing maximum growth potential. With this initiative, we intend to co-create a model that can be used across the country, while also learning quickly with all of our partners”.

Nita Kejriwal, Joint Secretary (RL), DAY-NRLM said, “The ability of women entrepreneurs (WEs) to obtain formal credit and strengthen their businesses must be improved in order to inspire and drive more women on the path of entrepreneurship. Through our enterprise finance initiative in partnership with GAME, we will assist 10,000 women entrepreneurs with formal financing, show them how to apply for formal credit, avail of benefits of various government programs, and persuade them to adopt digital tools for expanding their businesses. We hope to encourage more women to start their own businesses, support those who are already doing so, and foster a larger ecosystem for women entrepreneurship to thrive.”

India, February 8th, 2022 – Quixy, the leading no-code platform company, is thrilled to announce its Great Place to Work certification. This accolade reflects Quixy’s dedication to fostering a positive and inclusive work environment for all employees. An outstanding 87% of Quixy’s workforce has shared that Quixy is a great place to work, which is significantly higher than the average among tech companies.

Great Place to Work, the global expert authority on workplace culture, has conducted research that shows that job seekers are 4.5 times more likely to find a great boss in a certified great workplace. Moreover, at certified workplaces, employees are 93% more likely to look forward every day to come to work & are twice as likely to be paid fairly & do have a fair chance at promotion.

84.6% of Quixy employees participated in the extensive Great Place to Work Employee Survey that assesses employee perspectives on their workplace and the organization’s unique culture through the Culture Brief & Culture Audit. The survey included questions that evaluate different aspects of the workplace, such as trust in management, pride in the company, teamwork among coworkers, and job satisfaction. The assessment process combined the employee survey results, culture audit, and data analysis to determine the organization’s overall score on the Trust Index.

Description automatically generated Great Place to Work certification model is built on 5 integral criteria – Credibility, Respect, Fairness, Pride, and Camaraderie, based on which the survey is formulated. In a comparative study with the top IT Software companies listed in the report, Quixy has far excelled in most of the categories on average. In areas such as egalitarian treatment, gender equality, appreciation and recognition, and managerial geniality, Quixy has hit the top, surpassing the average of the Top 75 mid-sized workplaces and IT Software companies. Quixy, thus reiterated its commitment to providing its employees with a positive and fulfilling work environment and its customers with innovative solutions that drive growth and success.

Quixy’s results include the following highlights:

• 88% of Quixy employees rate management as credible (trustworthy, believable) in terms of communication practices, competence, and integrity.
• 86% of Quixy employees feel respected by management based on the amount of support, collaboration, and caring they perceive from their actions.
• 87% of Quixy employees feel that management practices are fair based on their perceptions of equity, impartiality, and justice.
• 89% of Quixy employees feel that their job, their team, or their company gives them a sense of pride.
  88% of Quixy employees feel that their work is enjoyable.

“The Great Place to Work certification is an incredible achievement and indicative of our work culture, which fosters trust & respect for people, promotes impartiality at work, & fosters a sense of camaraderie among our team members. At Quixy, we strive to create a positive and inclusive culture where all our employees feel valued and supported. We will continue to prioritize the well-being and development of our team members as we work towards achieving our mission”, said Mr. Gautam Nimmagadda, Founder & CEO, Quixy.

“Receiving the Great Place to Work certification is proof of the dedication & hard work of our team and the high-trust work environment we have collectively built over the last three years as a team. It also recognizes leadership’s resolve to empower all associates to thrive in their current positions and throughout their careers. Let’s keep up the great work and let us cherish this moment as we continue down the path of success.”, added Mr. Vivek Goel, VP of Marketing, at Quixy.

The Great Place to Work certification comes from employee feedback and an in-depth analysis of the company’s policies, practices, and culture. Quixy scored high in areas such as trust in leadership, feeling valued, and overall employee satisfaction.