GenZ vs Millenials: Workplace wars

Top of the Morning

Welcome to Top of the Morning by Mint, your weekday newscast that brings you five major stories from the world of business. It's Thursday, May 23, 2024. My name is Nelson John. Let's get started.

Indian benchmark equity indices closed higher on Wednesday, driven by positive cues from global markets and strong Q4 earnings reports from major companies. The Sensex climbed 267 points, closing 0.36% higher than the previous session. The Nifty remained relatively flat, gaining a modest 22 points.

For decades, the Indian Institutes of Technology (IITs) have been a beacon of hope for millions of Indians aspiring to build a stable and strong career. However, this year, IITians are struggling to get placed. The anxiety at IITs is palpable, with hundreds of students from the 2024 batch still jobless even after the second round of placements. The traditional powerhouse of engineering talent is now casting a wider net, reaching out to startups, alumni, and exploring new industry segments to secure opportunities for its students. In particular, IIT Bombay reports that out of 1,973 students registered for placements, 1,387 have secured jobs in the first and second phases. Yet, 300 to 400 students are still searching for employment. To address this, the placement teams are proactively contacting previous recruiters and broadening their search to include companies offering lower starting salaries than before. The challenge is more acute this year due to several large IT firms scaling back campus hires, a direct consequence of the economic downturn which has tightened budgets and led to job cuts across sectors. The newer IITs are feeling the pinch as well, navigating their placement season with cautious optimism. Mint’s careers correspondent Devina Sengupta, along with Pratishtha Bagai, report on a challenging placement season at the IITs.

Amid a severe heatwave and unpredictable weather patterns, India is grappling with a rise in health issues such as heatstrokes and vector-borne diseases like dengue. In response, the health ministry has introduced an initiative that feels more necessary now than ever: including climate change in the medical curriculum. Medical students could soon be learning about climate change and its effects. The proposed course aims to prepare future medical professionals to better understand and tackle health challenges directly linked to climate fluctuations. Given the complexity of diagnosing conditions like heatstroke and managing emerging diseases like monkeypox, which are exacerbated by climate shifts, this educational update seems timely. Mint’s health and pharma correspondent, Somitra Ghosh, reports on the proposed inclusion, which could help our healthcare professionals deal with climate change more efficiently.

The Indian state has been in existence for close to 77 years, yet a basic necessity like clean water for all remains a challenge. The Jal Jeevan Mission, launched by Prime Minister Narendra Modi on August 15, 2019, aims to provide safe and adequate drinking water through individual household tap connections to all rural households by 2024. While it has made significant strides, achieving 76.6% coverage of the estimated 193 million rural households, it still faces the challenge of ensuring these facilities are fully functional and sustainable.The initiative has seen substantial uptake, with 11 states and Union territories reaching 100% coverage. However, states like West Bengal and Rajasthan lag, with less than half of rural households connected. The discrepancy often stems from variations in local implementation and reliance on state-level schemes. In the second instalment of a new Plain Facts series by Mint’s data team, Shuja Asrar and Payal Bhattacharya examine the progress the Jal Jeevan Mission has made in rural parts of the country.

Click on the link in the show notes to see the charts and interactive maps prepared by Shuja, Payal, and the data team.

Indian carmakers are pushing back against new fuel efficiency standards proposed by the Bureau of Energy Efficiency (BEE). The BEE aims to align with Europe's stringent vehicle emission norms, targeting carbon emissions of about 70 grams per kilometre by 2030. Automakers argue that this target is too ambitious, given that gas-powered vehicles will likely remain dominant for the next decade despite ongoing electrification efforts. The BEE, advised by the U.S.-based International Council on Clean Transportation, is advocating for these strict standards to enhance carbon reduction efforts and accelerate the shift to electric vehicles. This would involve hefty penalties for carmakers that fail to comply. Mint’s auto correspondent, Alisha Sachdev, spoke to industry insiders who warn that such stringent rules could drastically impact sales and jobs, as EV technology in India isn't as advanced as in Europe, and the charging infrastructure is still underdeveloped.

Navigating generational differences at work has always been a challenge, but the gap seems to be widening. Today, companies are increasingly cautious about how they handle younger employees, especially those belonging to Generation Z, born between 1997 and 2012. These younger workers often bring a different perspective to the work environment, leading to tensions with older managers. The generational shift reflects broader changes in workplace dynamics. Companies are finding that traditional approaches may not resonate with younger workers, who value flexibility and personal well-being over conventional workplace rewards. The challenges extend beyond daily operations to strategic considerations. Many young professionals joined the workforce during the pandemic, missing out on traditional office bonding, and thus have a different view of workplace expectations. This shift has prompted some firms to link office attendance with appraisals to encourage a return to office settings.

Moreover, younger workers are not shy about voicing their needs or moving on if those needs are unmet. For instance, they might prioritize sufficient holiday time over salary increases, reflecting a shift towards valuing experiences over material gains. Mint’s Devina Sengupta takes a deep dive into the challenges and struggles associated with this generational divide in workplaces.

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IITs scramble in last leg of placements, hundreds left to be placed

India plans a new breed of warriors to battle extreme climate impact: Doctors

Much of rural India now has taps, but running water largely remains a pipe dream

Indian automakers resist Europe-like fuel efficiency standards

Why senior managers walk on eggshells around Gen Z at the workplace