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How to Hire the Right Candidate for your Business?

Different businesses require different hiring techniques for their business. Here we are sharing some industries with you along with their hiring processes.

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Hire the Best Recruits

Hiring is an easy task! No, don’t grind your teeth. The first statement only represents the general perception, not reality. Only the wearer knows where the shoe pinches. You have been pinched if you are a recruiting professional or have somehow experienced the bumpy ride. Studies suggest that the average cost per hire roughly revolves around $4000 for a company having more or less 500 employees. The fact is good enough to realize the seriousness and the importance of hiring. Hence, the cost of an error is too high, and the margin to mistake too low.

The reason why many people fail is applying the same methodology of hiring in every business model. No two industries work in the same style, so why follow the same process in Recruitment? Different businesses require different techniques to find the perfect fit for their business. Below, we’re going to share some industries with you along with their hiring processes.

Finance Industry

Finance is an evergreen field. As your business grows, you always tend to require financial expertise for financial management. Trusting a wrong fit and handling him/her, the charge can cost you millions. Therefore, you have to be super conscious in the hunt. The cherry on top, the ever-disrupting tech revolution in the Industry, intensifies the challenge as you need to hire tech-savvy people with a strong grip on basic things and unwavering enthusiasm to contribute to the journey towards growth. To summarize, here are a few takeaways for you;

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  • Look for the skills before anything else
  • Find the eagerness to adapt to the Tech Disruption
  • See if the personality is trustworthy
  • Confirm the compatible values 

Life Sciences Industry

The challenge is getting tougher here. The exciting factor is that not many people are aware of the Industry and its whereabouts. Well, to name a few, biotechnology, pharmaceuticals, nutraceuticals, life systems tech, biomedical tech, and many fall under the broad umbrella. Complication level is a bit too higher if you see, so to start with, the analytical role of the one going through the resumes is very significant. Furthermore, the Interviewer also needs to have some behavioral psychology skills to confirm whether the candidate matches the skillset. Life Sciences Consulting experts need to keep the following steps in mind to ace the Recruitment;

  • The Interviewer should have a good knowhow of Behavioral Psychology
  • Match of the Skillset is a must
  • Academic Qualification has to be in the pre-requisites
  • A Winning mindset is a requirement

Marketing Industry

Imagine the smartness needed to hire a professional to ace in the world of Marketing, when Recruitment itself needs to be perfectly marketed to magnify competing applications. Yes, you read it right, companies these days are re-evaluating and improving their marketing strategies for Recruitment. Anyhow, if you want to pick the right person correctly, we recommend creativity to be tested before anything else. Once you understand your requirements, then you can start questioning current trends in Marketing and Advertising. Moreover, scenario-based questions would be a good tool to confirm if the person has the smartness to execute bookish concepts in the real world. Below is a brief list of the actionable requirements;

  • Creativity can’t be compromised
  • Arrange situation-based questions to recognize the marketing mind
  • Inquire for the in-fashion marketing trends to verify the Interest
  • Sympathy and empathy for customers are a big plus

IT Industry

Credit for the Tech Revolution happening these days certainly goes to the IT Industry. The growth brings with it the requirement to hire more and more people. The new joining has to smartly and adequately work with fast pacing performance of the Industry. Thus, dedication, a hardworking spirit, innovativeness, and the openness to working out of comfort are significant values to be found before finalizing the candidate. In addition, experience also matters if you want a person for tougher functions and responsibilities. Biotech, nanotech, and other tech fields also require people with a decent knowledge of Life Sciences Consulting. Let’s shed light on the critical points to value;

  • Prefer the aggressive hunger to ace technological revolution
  • Prior knowledge and experience of the field to be prioritized
  • Technical, logical and rational mindset always wins in the Industry
  • You can compromise hardworking for smart working

If you’re an HR professional, you have added another certificate in your belt for your Talent and Acquisition Career ahead of you by reading this blog post. If not, you now realize the struggle the recruiting task asks for. 

Manvendra Chaudhary, with over 5 years of professional experience as CEO of Unique News and Megalent Marketing, shares insights on life, business, and health for your success.

Business

Lawsuit Claims Cinemark Shortchanged Customers on Sold Beverages

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Lawsuit Claims Cinemark Shortchanged Customers on Sold Beverages

A North Texas movie-goer has filed a lawsuit over Plano-based Cinemark drink sizes.

The lawsuit alleges that the movie theater chain fleeced its customers by shorting beverages sold in the chain’s canteens.

The chain loudly advertised that the 24-ounce container is a better deal, claiming consumers will get more for less price, while the reality is that Cinemark swindles customers by shortchanging them on sales for the 24-ounce beverage cup.

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Cinemark Accused of Shortchanging Customers on Beverage Sales

The proposed class action lawsuit has been filed in a Texas federal court and it indicts the movie.

The lawsuit further details how consumers got only 22 ounces of liquid, which is the maximum that can be filled in Cinemark’s 24-ounce cups.

It is alleged that the deception was part of a deliberate packaging and pricing practice.

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Also Read: California mother files lawsuit against Tesla after her 2-year-old child starts Model X and runs over her

Theaters pay almost 50% of the revenue generated by ticket sales to the studios but keep all the profits generated by the sales of food and beverage.

Increased competition has pushed the chain to offer concessions and bonuses, and this helped Cinemark in 2023 to record its highest concession sales of all time.

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However, the lawsuit alleges that Cinemark dupes its customers by shortchanging them on sales for the 24-ounce beverage cup instead of the 20-ounce beverage cup.

The reality is that consumers pay less for a 20-ounce cup, which is also a better deal than buying a 24-ounce beverage cup.

The complaint stated,

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“The size of the container in relation to the actual volume of the product contained in it was intended to mislead the consumer into believing the consumer was getting more of the product than what was in the container by a twelfth.”

The lawsuit was brought by Texas resident Shane Waldrop, who purchased a 24-ounce beverage cup in February which cost him $8.80 before tax.

However, on closer look, he realized that the cup was not large enough to hold 24 ounces. This was confirmed later when Shane took the cup home and found that it could contain only 22 ounces of liquid.

Thus, the consumer was duped 2 ounces for every cup he bought.

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The lawsuit charged the movie theater chain with neglectful falsification, deception, unjust profiteering, and a violation of Texas’ Deceptive Trade Practices Act and asked for a court order to halt such practices.

Waldrop is seeking compensatory damages and also demanded a jury trial over the claims.

Also Read: Johnson Controls subsidiary Tyco Fire Products to pay $750 mn to settle ‘forever chemicals’ lawsuit

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Business

Mukesh Ambani’s 67th Birthday: How He Built The Reliance Industries

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Mukesh Ambani Birthday

It is Mukesh Ambani’s 67th birthday, and today we will try to get to know about the incredible journey of this man who, with sheer determination and grit, has created one of the biggest conglomerates in the world.

Reliance Industries, which passed into his hands in the 2000s, grew at a pace which was phenomenal.

Born on April 19 to Dhirubhai Ambani and Kokilaben in Aden, Yemen, where his father was based before moving back to India.

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Reliance Industries was already a big company, but its growth after Mukesh Ambani took on the reins was phenomenal.

With astute business acumen and strategic vision, Ambani has propelled Reliance Industries to dizzying heights, making it one of India’s most powerful empires.

It was under his stewardship that Reliance Industries diversified from being a petroleum company to enter other fields like Telecommunication and the Aerospace industry.

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The 5G revolution, which has swept the country, is largely due to the efforts of Mukesh Ambani and his company Jio. Jio offered high-speed and cheap internet services to the farthest corners of the company, and this helped it to capture a major chunk of the telecommunication sector. Today the nation’s population is using internet data in an unprecedented way.

Another diversification move was the entry of Reliance Industries into retail, energy, petrochemicals, and media. Reliance also acquired and invested in Future Group’s retail assets, as well as the creation of JioMart, an e-commerce venture.

Reliance also entered into a partnership with the Indian media company Viacom18 and the American entertainment giant Disney to create a joint venture, valued at $8.5 billion. The venture also gave exclusive rights to Reliance to distribute Disney productions in India.

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It is his futuristic vision which catalyzed Reliance Industries to invest heavily in the renewable energy sector. The company has built solar and wind energy farms and is contributing in a big way to help India achieve its renewable energy targets while lowering carbon emissions and environmental impact.

Again, it is his futuristic views which made him create the Jio Institute, which is a truly world-class educational institution dedicated to cutting-edge research and technical improvement. The stated motto of the institute is to help develop future leaders and innovators who will help the country grow to become a developed nation in the coming decades.

The phenomenal growth and success of Reliance Industry can be attributed to Mukesh’s keen sense to anticipate market trends, evolve as per changing consumer preferences, seize emerging possibilities, and produce products and services of the highest quality.

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As of April 19, 2024, according to Forbes, Mukesh Ambani’s net worth is to the tune of $115.8 billion, and he is ranked one of the top 10 wealthiest people in the world on Forbes magazine’s annual list of billionaires in 2021, 2022, and 2023.

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Net Worth

Pavel Durov Net Worth 2024: How Much is the Russian-born Emirati Entrepreneur Worth?

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Pavel Durov Net Worth 2024: How Much is the Russian-born Emirati Entrepreneur Worth?

Who is Pavel Durov?

Pavel Valeryevich Durov, born on October 10, 1984, is a Russian entrepreneur renowned for founding the social networking site VK and the Telegram Messenger. He is the younger sibling of Nikolai Durov. After stepping down as CEO of VK in 2014, Pavel, along with his brother, led a nomadic lifestyle in self-imposed exile, holding citizenship from Saint Kitts and Nevis. He is recognized for his contributions to the tech industry and his advocacy for user privacy.

Pavel Durov Career?

Durov’s journey in the tech industry began in 2006 when he co-founded VKontakte (VK), inspired by Facebook’s success. Under his leadership, VK flourished, reaching a valuation of $3 billion. However, conflicts with Russian authorities over user data led to his departure from VK in 2014. Subsequently, he focused on Telegram, emphasizing privacy and security, earning him acclaim as a tech visionary.

Pavel Durov’s Net Worth

As of 2024, Pavel Durov’s net worth is estimated to be an impressive $17 billion. His wealth stems from his pioneering work with Telegram and VK, propelling him into the upper echelons of the tech industry. Durov’s success serves as an inspiration for aspiring entrepreneurs worldwide.

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Pavel Durov Age?

Pavel Durov, born on October 10, 1984, is currently 39 years old. Despite his relatively young age, he has achieved remarkable success in the tech world, demonstrating his entrepreneurial prowess and innovative thinking.

Pavel Durov Family: Parents

Pavel Durov’s father, Valery Semenovich Durov, is a distinguished academic with a Doctorate in Philological Sciences. His grandfather, Semyon Petrovich Tulyakov, was a decorated World War II veteran. Durov’s family background reflects a tradition of intellectual and academic excellence.

Pavel Durov Height and Weight

As of 2024, Pavel Durov stands at 5 feet 10 inches (178 cm) tall and weighs approximately 163 pounds (74 kg). His physique, along with his intellect and entrepreneurial acumen, contributes to his charismatic presence and success in the business world.

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Also Read: Nasser Al-Khelaifi Net Worth 2024: How Much is the President of Paris Saint-Germain Worth?

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