Tuesday, 27 September 2011

HR Headlines - Naukri.com Newsletter

Morgan Stanley: Senior-Level Hiring Rises In India
same, according to a survey by Morgan Stanley. The survey, which studied 312 respondents, found that senior executives have added around 5 percent to the workforce in FY11 and are likely to add another 5 percent in FY12. The increase in salary growth is expected to be around 12 percent. Salaries in the private sector salaries grew by about 17 percent in FY11 and are expected to grow by 18 percent in fiscal 2012. Around 75 percent of the managers placed profitability ahead of cost as the biggest driver for any employee action. The industry as a whole expects strong earnings growth in FY12 in line with FY11.
Source : 25-09-11   Mint   Compiled by www.naukri.com
World Bank Warns Developing Nations About Downturn
Developing countries can prepare for the threat of a global recession by improving policies to generate growth and jobs, diversifying economies, bolstering their banking sectors and readying social safety nets, the World Bank's top economists said. The Bank chief economist and senior vice president Justin Yifu Lin told a round table in Washington that the sentiment in the international economic community had abruptly changed from a feeling of general confidence in global recovery six months ago to "alarming uncertainty" now facing policy-makers."We once again are seeing the financial markets in the world in turmoil," Mr. Lin said, adding that the creditworthiness of several countries "on both sides of the Atlantic" was now in question, fuelling the general crisis of confidence. This was a worrying scenario for the world's developing countries, as investors and consumers across the globe might now be inclined to hold back out of caution."We still hope for the best," Mr.Lin said, but he added: "For the developing countries, it is very important for them to prepare." Mr. Lin, and the World Bank's top economists covering regions from East Asia to Africa and Latin America, warned that while many regions had weathered remarkably well the 2008-2009 financial crisis, this meant that their economic defences might not be as sturdy now to face another global recession.
Source : 22-09-11   Business Standard   Compiled by www.naukri.com
IIM’s Call More Companies For Summer Internships
Hedging against the deteriorating global economic situation, Indian Institutes of Management (IIMs) have approached a larger number of companies for their summer internship recruitment in November. Moreover, with increased batch sizes, a need for a larger pool of recruiters is being felt across the board. “The macroeconomic indicators are worrisome and students are always apprehensive till they have a job in hand,” said Professor Amit Dhiman, placements chairman at IIM Calcutta. IIM Ahmedabad is still waiting for the placement season to begin but maintains that it has approached new companies to recruit from the campus.“Our batch size is increasing; the current PGP batch has 380 students. As such, we will have more companies visit our campus. Also, there are companies from new areas and verticals that are keen on hiring,” said Sapna Agarwal, head of career development services at IIM Bangalore
Source : 22-09-11   Financial Express   Compiled by www.naukri.com
Tata Steel Gives Rs 171 Crore Bonuses
Tata Steel today announced that it will give an annual bonus of 18.5 per cent of salary/wages of all its unionised employees for the year 2010-11.Nearly 30,155 employees would be paid the annual bonus, the total payout on account of which will be approximately Rs 171 crore. A company press release said, "Since all employees of the Steel Company are drawing salary/wages higher than the limit laid down in the Payment of Bonus Act, 1965, no employee of the company is eligible for bonus under the Act. However, respecting our old traditions, the company is going to pay bonus to all employees in the unionised category".A Memorandum of Settlement was signed between the steel company and the Tata Workers' Union here in this regard for the accounting year 2010-2011, the release said.
Source : 22-09-11   Hindustan Times   Compiled by www.naukri.com
HCL’s Washington Centre To Create 400 Jobs
HCL Technologies has set up a new Global Delivery Centre in Redmond, Washington, a move that will create 400 jobs over the next four years. The company will initially invest $4 million in the facility.The centre will focus on business innovation in software product development, test engineering and business-critical platform development. Microsoft, its first U.S customer, has pledged $200,000 to assist with training of future employees from the Seattle area. Emphasizing that it does not want to be “seen as a company which takes away jobs”, HCL said it will create 10,000 jobs in the U.S. and the European Union in the next five years. It already employs 85,000 in these regions. HCL also announced the setting up of another development centre in Dublin, Ireland, with 80 seats. Centres are being also planned in Columbia and Cape Town, South Africa.
Source : 22-09-11   Financial Express   Compiled by www.naukri.com
MAIT appoints Dr. Alok Bharadwaj as President & J V Ramamurthy as VP
MAIT, the apex body representing India’s IT hardware, training and R&D services sectors, announced the appointment of Dr. Alok Bharadwaj, Senior Vice-President at Canon India Pvt Ltd as its President and J V Ramamurthy, President and COO, HCL Infosystems Ltd as its Vice-President for the term 2011-12. The announcements were made at MAIT’s 28th Annual Session held at New Delhi.
Source : 22-09-11   Indiainfoline.com   Compiled by www.naukri.com
Job Axe Swings Across Asia Banking Sector
Firings are picking up pace at foreign banks across Asia, with industry professionals and headhunters saying more rounds are set to come. Since the 2008 financial crisis, Asia's rapid economic growth led to an expansion of the banking industry in the region, with most foreign banks insulated from deeper cuts that occurred along the way in the United States and Europe. While banks may still see less of a hit across Asia than other parts of the world, hopes of being immune from a major culling ended in the past few weeks, with pink slips hitting most foreign financial institutions across the region. "There's hardly anyone in the market who is looking to hire. Only business critical positions are getting filled," said Aditya Modi, Partner at Transcend HR Solutions, a Mumbai-based financial services placement agency.
Source : 24-09-11   Reuters.com   Compiled by www.naukri.com
Survey: Flexi Hours Better Than Part-Time Work
A survey has found a large number of people are averse to part-time employment because as they do not consider it to be a sound career move. A Ma Foi Randstad Work monitor Survey 2011 found 46 percent of employees found part-time jobs unattractive. Employers have begun offering full-time jobs with more flexibility and focus on productivity rather than work hours, with the virtues of a part-time job, according to Ma Foi. The survey also found the overall level of confidence in finding another job within the next six months to be “stable” across the world. Employees in India, China and Mexico were most confident about finding another job. The global average of part-time employees is 15 percent, while in India the figure stands at 27 percent and in China 35 percent, the survey said.
Source : 21-09-11   Financial Express   Compiled by www.naukri.com
Eye On Top Spot, Deloitte, PwC Busy Hiring
Deloitte and PwC, the world’s largest accounting and consulting firms, are in expansion mode as they compete for the No. 1 spot, Financial Express reports. The two are hiring aggressively across the globe and acquiring firms to beef up operations. PwC said its member firms across the globe hired about 45,000 staff in the 2011 fiscal year ended in June. Deloitte said it was on track with its projected global hiring of 50,000 annually over the coming five years. The firms see significant growth in consulting and are making a push in emerging markets such as China and India, where business is growing after a recessionary slump. PwC, which sold its consulting arm to IBM in 2002, has been rebuilding the business with acquisitions such as Paragon Consulting Group and the commercial services business of BearingPoint. Deloitte has bought energy consultants Altos Management Partners and AJM Petroleum Consultants.
Source : 30-11-99   Financial Express   Compiled by www.naukri.com
Facebook Apps Create A Wave Of New Jobs
A study says social networking site Facebook has helped create hundreds of thousands of jobs. According to the study by the Robert H Smith School of Business, University of Maryland, Facebook-related applications could have created more than 200,000 jobs this year in the U.S. alone, with salaries totalling more than $15 billion. Applications for Facebook and other associated sectors have created 1,82,000 jobs this year, with at least $12.19 billion in salaries and benefits. The “app economy” generated more than 53,000 new jobs in software companies alone, the study said.“As Facebook and other platforms grow, we will continue to see job growth and the ripple effects of these advances in the U.S. economy,” said co-director of Smith’s Center for Digital Innovation, Technology and Strategy II-Horn Hann.
Source : 20-09-11   Deccan Herald   Compiled by www.naukri.com
Capgemini Names India Business Head
A techie, an avid nature lover and an author, Anish Sarkar has been picked to head the India business of one of the world’s leading consulting firms, Capgemini. Mr. Sarkar, in his new role, has the responsibility of driving the consulting business for the domestic India market. The France-based company had so far focused on the tech-side of the business, enhancing their offshore capability. Now, they are renewing their focus on the consultancy space in India and think that Mr. Sarkar is just the man to lead it. “Consulting is my first love,” says Mr. Sarkar. “Moreover, in my new role I will be exploring opportunities in the India market which is a challenge”
Source : 22-09-11   Business Standard   Compiled by www.naukri.com
FIDC Elects Shriram Transport MD As Chairman
The Finance Industry Development Council, a self-regulatory organisation for NBFC-AFCs, has a new Chairman in Mr R. Sridhar, who is currently Managing Director of Shriram Transport Finance Company Ltd. He was elected as FIDC Chairman for period of two years at a meeting of the Council held in Mumbai on Tuesday. Mr Sridhar is a fellow member of the Institute of Chartered Accountants of India .
Source : 21-09-11   Hindu Business Line   Compiled by www.naukri.com
Maruti Adds 200 Workers At Manesar Factory
Maruti Suzuki India Ltd added 200 workers at its Manesar factory in the northern state of Haryana, increasing the total workforce to more than 1,300.The fresh hiring comes as labor unrest continues at the facility of the local unit of Suzuki Motor Corp. The unrest forced the auto maker to also start producing the Swift hatchback at its Gurgaon plant, also in Haryana, earlier this month to raise output and cut the waiting period for the car. Maruti, which introduced an upgraded version of the Swift in August, has orders for about 90,000 units of the car with a waiting period that has extended to more than four months due to labor issues at Manesar.
Source : 22-09-11   WSJ.com   Compiled by www.naukri.com
Former Student Of IIT–Madras Becomes Its Director
Bhaskar Ramamurthi has been appointed the new director of Indian Institute of Technology-Madras. “The institute will continue to focus on fundamental and translational research given the development imperative of the country and find solutions to the pressing problems facing society,” said the professor of electrical engineering. President Pratibha Patil, in her capacity as Visitor of IIT-Madras had approved the appointment of Prof. Ramamurthi. This was conveyed to the IIT-M Board of Governors Chairman Prof. M.M. Sharma
Source : 23-09-11   The Hindu   Compiled by www.naukri.com
Job addition may be lowest in Ahmedabad
Ahmedabad may witness the lowest employment by September compared to other cities, a survey said. While metros such as Mumbai, Delhi and NCR, Chennai and Bangalore may see employment of 740,700, 670,000, 420,000 and 137,400, respectively, till September, Ahmedabad is expected to hire only 51,600, the Ma Foi Randstad Employment Trends Survey said. Between January and June, Ahmedabad had the lowest estimated increase in employment at 3,400. Delhi and NCR led with 55,800. The expected increase in employment from July to September is also low at 1,700, against Mumbai at 32,300.Salary hikes were at 14.8 percent between January and June.The study was based on a sample survey conducted for about 690 companies across different sectors of the economy mainly during June.
Source : 22-09-11   Business Standard   Compiled by www.naukri.com
Indians Lead In CEO Payout
The Indian stock markets may not rank high on international charts in terms of the volume of business done, but they have beaten global market leaders in terms of pay hikes given to their top executives (CEOs).The two largest stock exchanges of the world -- the NYSE Euronext and Nasdaq OMX Group -- cut down the remuneration paid to their respective CEOs last year.At the same time, the annual remunerations paid by Indian bourses, including market leaders NSE and BSE as well new entrant MCX-SX, rose during the financial year ended March 31, 2011.The National Stock Exchange's Ravi Narain was the top-paid CEO, with gross remuneration of about Rs 7.35 crore for the year 2010-11, followed by BSE MD and CEO Madhu Kannan (Rs 2.04 crore) and MCX-SX chief Joseph Massey (Rs 1.80 crore).NSE Managing Director Ravi Narain was paid a net remuneration of Rs 3.85 crore, but the BSE and MCX-SX did not specify whether the remuneration figure for their chiefs was a gross or net amount.
Source : 25-09-11   Financial Express   Compiled by www.naukri.com
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