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Tuesday, 9 August 2011

HR Headlines -

Second Half of 2011 to See More Jobs, Says Survey
Presenting an optimistic hiring scenario, a majority of the recruiters expect creation of more jobs in the coming months, according to a survey. Leading job portal Naukri.Com's survey showed that 78% of the recruiters predict addition of new jobs; while only 2% anticipate layoffs in the second half of 2011.The overall sentiment shows that hiring activity will continue to move at a brisk pace over the next six months. The survey highlighted that more than 60% recruiters feel that attrition in their organisation is less than 10%. However, almost 20% of them said that the attrition level in their organisation is above 20%. As per the survey, 32% of the recruiters opined that the range of increments was between 10% and 15%."Thirty one per cent said that the range was between 15% and 20% and 18% said increments were within the range of 5% and 10%," the report said. Among the respondents, 60% felt that maximum hiring activities would be seen for employees with four to eight years of experience. Around 50% said that recruitment levels would be high for those with one to three years experience."Twenty two per cent of the recruiters opted for 8-15 years, while 20% said that jobs would be created for freshers," it said. On the other hand, as many as 61% of recruiters said that they face a talent crunch while hiring their employees. Among these recruiters, 41% said that maximum talent crunch was witnessed in the 4-8years experience level. The findings are based on a survey of more than 950 recruiters.
Source : 02-08-11   Compiled by
Obama Vows 'Recovery' Through Jobs Push
US President Barack Obama assured Americans that the country will come out of the current crisis soon. Buoyed by a stronger jobs report, which even provided some support to the US markets in the opening session, Mr Obama said that the economy has created 1,54,000 jobs in the private sector in July, at the strongest pace since April. Speaking to American veterans, Mr Obama said the US economy has faced a tumultuous year as high oil and gas prices, Japanese quake effects on supply chains and the Euro Zone crisis have slowed growth momentum. Mr Obama said the markets around the globe have had a 'bumpy ride' and hoped that the US economy will come out of the crisis soon. America's employment gains are not happening quickly enough to make up for the jobs lost during "the worst recession that any of us have ever seen," the US President said. Americans also cut back on their spending in June for the first time in nearly two years and their incomes grew by the smallest amount in nine months, a troubling sign for an economy that is barely growing. Excluding falling prices for items such as energy and food, consumer spending would have been unchanged in June.
Source : 05-08-11   Compiled by
Bhopal IT Park To Create 75 Thousand Jobs
After a prolonged wait of five years, the dream of Bhopal’s IT Park has moved closer to reality with the state government allotting 25 acres of land to New York-based company-Messrs Underhill Technology near the airport. Apart from that the government has also initiated to develop the land near the proposed IT Park for other business purposes. The administration is looking to create nearly 75 thousand jobs through both the projects. The IT Park will be developed by the Madhya Pradesh State Electronics Development Corporation (MPSEDC). As per policy guidelines of the Information Technology Department, Messrs Underhill Technology of New York shall provide jobs to 350 people. Besides, the company shall be required to invest from Rs 50 crore to 100 crore as the company is being provided land at concessional rates. According to a press release from the Madhya Pradesh government, the company will get possession of land only after it furnishes a bank guarantee of the difference amount between concessional rates and market rates. If the Company fails to comply with the terms and conditions of providing jobs and investments then the bank guarantee will be forfeited by the State Government.
Source : 07-08-11   Bhaskar News   Compiled by
HSBC Rules Out Job Cuts In India
The country's oldest foreign bank HSBC ruled out job cuts in the country as part of its global recast, saying that India is a strategic market and one of the key profit centres and that it is in fact finding it difficult to offset the high attrition rates. “There will be a re-allocation of resources but it's not going to be a cut heads. I hate the word cut heads. What we are trying to do is to eliminate bureaucracies at the back-end," HSBC India Chief Executive Stuart A Davis told reporters here today after announcing the first half results. The bank had also said it had already cut 5,000 jobs following restructuring of operations in Latin America, the US, Britain, France and the Middle East and that it would cut another 25,000 between now and 2013. HSBC had said that it would sell 195 US branches to First Niagara Financial for about USD 1 billion in cash, and close another 13 of the 470 sites it had. HSBC also intends to sell its US credit card portfolio, which has over USD 30 billion in assets to free up capital. The bank now aims to shut or sell retail operations in a further 20 countries. Last month in July, another British bank Barclays had also announced merger of its client relationship teams in Barclays Corporate and Barclays Capital, which would result in a job loss of around 25 people.
Source : 02-08-11   Compiled by
Linkedin Follows up IPO with Strong 2011 Outlook
LinkedIn Corp projected faster-than-expected 2011 revenue growth after chalking up a surprise second-quarter profit, as the professional networking site sets off to prove it can fulfil the promise of its monster IPO and rich valuation. Shares of the company, whose services are used by professionals seeking jobs or contacts and companies hoping to fill vacancies, climbed almost 5% in after-hours trade, recouping some of their 9.6% loss during the regular session in which markets tanked. They have more than doubled since LinkedIn's monster May debut, when it became the first prominent US social networking site to go public, whetting the appetite of investors for a Facebook IPO while fanning fears of another dotcom bubble reminiscent of the late 1990s.Investors pored over the company's first full results report for clues as to whether the stock's lofty valuation at more than 30 times 2010 sales was justified. They picked out healthy growth in both revenue and members. The Mountain View, California company had warned that it will not be profitable in 2011 as it shovels funds into expansion — hiring field sales representatives and launching new products. But investors brushed off those concerns for now. LinkedIn will now try to sustain its growth both by encouraging its 120 million-odd members to consistently use the site and seek out new international audiences, though the US job market struggles to get out of a persistent slump.
Source : 05-08-11   Reuters   Compiled by
FDI in Retail to Open Floodgates of Job Opportunities
The Opposition may be asking the United Progressive Alliance government how foreign direct investment (FDI) in multi-brand retail would help generate employment, but the industry has already begun crunching numbers. At the first sign of the sector opening up, human resource consultants, body shoppers and recruitment agencies are scouting for opportunities and, of course, talent to serve the promising industry. Experts said the industry would need additional manpower of 15 to 30 million in 10 years, if reforms do happen. The industry currently employs 35 million people. Jobs are expected to be created across front-end and back-end operations, store operations, merchandising, logistics and distribution, marketing, procurement, purchase and corporate services. Elixir said that the maximum demand originated from companies into convenience retail, while luxury and lifestyle retail still had limited audience. Retail companies have always had a preference to hire from fast moving consumer goods (FMCG) companies. The gap in the retail sector could be filled with talent from other industries like telecom and Pharma, besides FMCG.
Source : 07-08-11   Business Standard   Compiled by
Medical College Teachers Rally for Salary Hike in Ahmedabad
Members of the Gujarat Medical Teacher's Association (GMTA), on Friday, read out their longstanding complaint that being paid less has been falling on deaf ears in the government. However, this time they have decided to go one step further and have planned a mass strike in case the government fails to act on their pleas. “For two years we have been complaining incessantly. Medical teachers get between Rs20, 000 and Rs30, 000 less than a teacher of arts, commerce or science which we feel is unjust to us. We work not only as teachers but as doctors during natural calamities or any other catastrophes and also assist and carry out operations, work round the clock serving hospitals, among several other things," GMTA member Dr Makwana said. He further added that while teachers and doctors get paid under the UGC commission, medical teachers get their salary under the Tikku Commission. Nearly 2,100 cases of doctors having given ad hoc services have been pending for five years, as rules and regulations have not been implemented yet. The GMTA will stage a rally on Saturday, at 1pm from Income Tax to the Collector's office and submit its demands to the latter. The teachers will go on mass casual leave on Friday, August 12. Their action will intensify into a mass strike, in case the government fails to act fast.
Source : 06-08-11   Compiled by
Sunil Mittal, Others to Forego Salary Hike
Close on the heels of Bharti Airtel chief Sunil Mittal foregoing any pay hike this fiscal, the company today said all its corporate directors and CEOs have volunteered for no salary hike in 2011-12. The decision of the group's top management officials to forego salary hike this fiscal follows an August 1 statement regarding Chairman and MD Sunil Bharti Mittal. The company, however, did not identify the officials foregoing their salary hikes for this year. Total remuneration for all directors of Bharti Airtel rose from Rs. 29.89 crore in 2009-10 to Rs. 35.98 crore in 2010-11. Mr.Mittal's pay package accounted for nearly three-fourths of the company's total director remuneration in 2010-11. Bharti Airtel announced capping Mr.Mittal's salary for the current fiscal on August 1 soon after its annual report disclosed a Rs. 4 crore, or 17 per cent rise in his remuneration to Rs. 27.5 crore in the previous fiscal 2010-11.In its notice, issued the same day, for the upcoming AGM on September 1, Bharti Airtel also sought shareholders' approval for Mr.Mittal's re-appointment as MD for next five years at an annual pay package of up to Rs. 70 crore plus other benefits. However, the company later said that the proposal was an enabling provision for the next five years and that Mr.Mittal would not get any pay hike this fiscal.
Source : 03-08-11   Compiled by
Global Economic Crunch, Inflation to Slowdown Hiring Trends
Concerns of a global economic crunch and rising inflationary pressures are acting as a caution sign for India Inc, which has suddenly turned cautious in its hiring plans. According to various recruitment firms, hiring trends are set to see a slowdown in the coming quarters. According to E. Balaji, managing director of Ma Foi Randstad, a global hiring firm, certain sectors, such as telecom, which are facing a lot of revenue pressure, will go slow on hiring. However, Mr.Balaji added that this trend is temporary as people are in a wait-and watch mode. The overall sentiment for hiring is still upbeat for India Inc, he pointed out. A survey conducted by of more than 950 recruiters revealed an optimistic hiring scenario in the second half of 2011. About 78 per cent recruiters predict addition of new jobs and two per cent anticipate layoffs. However, the survey says that the trend will depend largely on the growth and business level.
Source : 03-08-11   Compiled by
Private, Foreign Banks Ramp up Equity Market Teams
Foreign and private sector banks in India are strengthening their equity capital markets teams, with top level hires, at a time when the equity issuances by domestic companies are fading due to volatility in local stock markets. Banks and industry analysts say the hiring spree is based on future needs, as these lenders see an opportunity in the Indian equities markets in the long run. Even private sector banks are not far behind, with the country’s second-largest private bank, HDFC Bank, appointing Rakesh Singh as the head of its investment banking division earlier this year. Following this appointment, HDFC Bank managed its first-ever equity issuance, when it got the mandate as the co-book running lead manager for Muthoot Finance’s initial public offer. These recruitments are happening at a time when volatile share markets have hit India Inc’s share sale plans, estimated to be over Rs 30,000 crore for this year. In the first seven months of this calendar year, the number of first-time public offers by Indian companies stood at 24, compared to 64 in the 2010 calendar year, data compiled from Prime Database by BS Research Bureau shows. Companies raised Rs 4,738.45 crore from IPOs till July this year, compared to Rs 37,534 crore mopped up in the period last year.
Source : 03-08-11   Compiled by
Keeping Teachers Temporary for Decades Unreasonable: High Court
Speaking for the teachers made to serve in temporary posts for decades; the Delhi High Court called it “arbitrary” and “unreasonable” and said this practice violated their fundamental right. "Keeping a person who was fully qualified in a temporary post for over 15 years is, apart from being arbitrary, also unreasonable as it obviously denies such person the benefits of a regular pay scale, the security of tenure, and all other attendant benefits,” said Justice S Muralidhar. Ordering Delhi University's School of Correspondence Courses and Continuing Education to consider the case of petitioner Ms.Nalini Prabhakar for regularisation of her service in its English department, the court also pulled up the institution for citing non-availability of vacancies as a reason. Justice Muralidhar also took to task the college for contending that the selection process for lecturers was stalled by its managing committee, which had to take up Ms.Prabhakar’s case in April 2003, on account of restructuring of the set up of the School of Correspondence Courses.
Source : 30-07-11   Compiled by
Barclays to Cut 3,000 Jobs As Profit Drops
Barclays is set to cut about 3,000 jobs this year to reduce costs after a drop in bond trading and an insurance mis-selling charge caused first half profits to fall by a third. The British bank's performance was more resilient than rivals, however, as bad debts tumbled and it kept costs steady. Its shares were little changed in early trading on Tuesday. It’s better on costs and impairments, and within the revenue line BarCap had a relatively strong quarter compared to its peer group, said Mike Trippitt, analyst at Oriel Securities. It has been a savage market out there. Chief Executive Bob Diamond, the American who built investment banking unit BarCap into a debt market powerhouse over the previous decade, said Barclays had cut 1,400 jobs during the first half and the tally was likely to rise to about 3,000 by the end of the year.
Source : 03-08-11   Compiled by
ED Unearths Rs 400 Cr NGOs Scam Run By An Engineer
The Enforcement Directorate (ED) has unearthed a fake NGOs scam running in excess of Rs 400 crore, orchestrated by a chief engineer from Kanpur, UP. In a unique modus operandi, the engineer used a battery of female associates to operate fictitious bank accounts opened in the name of theses NGO’s. The ED officials produced one Arun Kumar Mishra, chief engineer, Uttar Pradesh State Industrial Development Corporation before the special judge PS Teji. The ED alleged that Mr.Mishra owned a number of companied/ firms /NGOs approximately 17 in number involved in money laundering along with his female associates.
Source : 06-08-11   Hindustan Times   Compiled by
Engaging Staff a Challenge for IT Firms
Pool tables, basketball courts, free food, in-house movie halls, bring-your- father, mother, all and sundry-to-work days. Thanks to chronic attrition woes, Indian IT, ITeS companies have always been at the forefront of devising ways to keep their short-fused employees engaged and interested. But, as the sector stretches hard to move up the value chain, factors such as changing job roles and values, employee mix, as well as increasing maturity and age of employees, are now presenting these companies with a further challenge in employee engagement — developing programmes which keep pace with a rapidly evolving workforce. Infosys for one has been developing grooming programmes at various levels of the hierarchy. For women employees, the company has introduced two new programmes in the past three months, one which would groom first-time female managers on job-related competencies and educate them on behavioural differences from their male counterparts.
Source : 05-08-11   Compiled by
Whiff of Hope for AI Staff
Air India employees will get their salaries for June and July and part of their performance-linked incentives (PLI) in three to four days. During a meeting in Trinamool Congress and CPI leaders, Prime Minister Manmohan Singh assured them of the payments. Air India sources said that the national carrier had been paying only 20 per cent of the gross salary in the last few months. The airline has not paid performance-linked incentives (PLI) since May, while salaries are pending from June.AI pilots who fly domestic get Rs 4 lakhs every month, of which as much as 80 per cent, or Rs 3.2 lakhs, is PLI. AI has been paying them only the basic salary of Rs 80,000 per month, that is, one-fifth of their total salary. Pilots who fly international get a fixed gross salary of Rs 5 lakhs. This includes basic and other emoluments of Rs 80,000, Rs 3.2 lakhs for 80 hours of flying and a flexible component called the flying allowance which comes to $2,100 (Rs 1 lakh). They are being paid only the fixed salary and the flying allowance, meaning they are getting a third of their total salary at Rs 1.80 lakhs per month.
Source : 03-08-11   Compiled by
Call Centres in Coalition Creating 100,000 Jobs
‘It’s our hope that this is not going to be a one-time thing, but that this is part of a virtuous cycle of job creation and demand generation that will lead to more job creation,” FCC Chairman Julius Genachowski said. He further announced the jobs commitment in Jeffersonville, Indiana, where Accent Marketing Services is building a new facility that will add 175 jobs that pay about $13 an hour. Accent Marketing is part of Jobs4America, a coalition that also includes the non-profit American Teleservices Association trade group, Sprint Nextel Corp and other companies and organizations. The jobs will help revive communities hard hit by the economic downturn, Mr.Genachowski said. For example, Novo 1 has created 300 jobs in Holland, Michigan, and LiveOps plans to add 100 jobs by the end of the year in Newark, New Jersey .Aegis Global has committed to hiring more workers in St Lucie, Florida, and has set a goal of adding 4,000 jobs nationwide over the next two years. The total commitment is 100,000 jobs, and “we expect that each of these companies will deliver on their commitments,” Mr. Genachowski said. Some of those jobs will be returning from India and the Philippines.
Source : 04-08-11   Compiled by
Over 130 Govt Officials Under CVC Scanner for Graft
Nearly 130 officials from different government departments, including the Central Board of Excise and Customs and Railways, have come under the lens of Central Vigilance Commission for alleged corruption. Of the total of 131 officials charged with irregularities, the highest number of 25 is from Central Board of Excise and Customs, followed by 16 from Ministry of Commerce, 12 from Union Bank of India and 10 from Railway Ministry. The anti-corruption watchdog has recommended major penalty against one official each from Ministry of Home Affairs, All India Institute of Medical Sciences, Power Grid Corporation of India Ltd and Northern Coalfields Ltd among others. It also recommended fine against several officials from nationalised banks as well.
Source : 04-08-11   Compiled by
Kingfisher Restores Flying Allowance on Fears of Exodus
After much deliberation, Kingfisher Airlines (KFA) has restored the original salary structure of its pilots. Last month, the airline suddenly informed pilots that their flying hour allowance would be reduced from around 55 hours to 40. This step angered pilots who threatened to either strike or tender mass resignations. KFA has over 600 pilots who had to take a hit of Rs one lakh each month on an average. The airline, which ran up losses of Rs 1,027 crore, last year, paid out Rs 676 crore as salaries in FY11. Despite its best efforts, Kingfisher Airlines could only reduce its wage bill by 2% year-on-year. It has made unsuccessful attempts in the past to change pay structures of pilots, but had to backtrack in the face of widespread opposition.KFA has not reported profits ever in its six years of existence but is keen to turnaround the airline. Escalating fuel cost is not under its control; hence the focus remains on trimming salaries of employees.
Source : 05-08-11   Compiled by
Glare on Job Agencies
Darjeeling Police have put job placement agencies under the scanner to curb inter-state trafficking but social workers said the measure was not enough and only a proper legislation on the lines of recent directives issued by Delhi High Court could serve the purpose. According to figures released by the Bengal CID to an RTI query filed by the Delhi based anti-trafficking organization Shakti Vahini, the number of missing people in the state has increased from 196 to 6514 between 2001 and 2010.While only three missing cases were reported from the six north Bengal districts in 2001, the number increased to 1089 in 2010 — one of the indications that a large number of people were leaving the region to seek job elsewhere in the country. The figure, according to Shakti Vahini continues to rise, yet there is no clear data on the placement agencies working in the state.
Source : 07-08-11   Compiled by
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