Wednesday, 19 October 2011

HR Headlines - Newsletter

Naukri Job Speak Index For Sep-11 Remains Stable, However Hiring Activity For IT, ITES, And Banking Sectors Dips In Sep-11 When Compared To Aug-11
The Naukri Job Speak index for Sep-11 shows steady hiring trends with the job index moving up marginally by 0.6% from 1087 in Aug-11 to 1094 in Sep-11. However, a yearly comparison shows that the index moved up 16% in Sep-11 when compared to the same time last year. Telecom, Insurance and BPO sectors saw dips in their monthly hiring activity. The index for Telecom and BPO sectors dipped by 9% respectively in Sep-11 when compared to Aug-11, while hiring activity in the Insurance sector saw a 11% dip during the same period. IT- Software, Banking and Oil and Gas sectors witnessed marginal 3% dips in their monthly hiring activity. The three month moving average index also show a dip in hiring activity for IT, ITES and Banking sectors. However, yearly comparison shows positive growth figures for all sectors barring ITES and Telecom.
Source : 10-10-11   Compiled by
Slump Brings In More Outsourcing Biz
The economic slowdown has brought more opportunities for Indian outsourcing companies, from legal services to IT support. Recession brings along with it the need to cut costs and hence more offshoring. The natural tendency is to go for much broader services from global vendors, says R Ramkumar, vice president of corporate marketing, research and communications at Cognizant. Rahul Kanodia, vice chairman and CEO of KPO firm Datamatics Global Services, expects the publishing vertical to grow this fiscal. Legal process outsourcing business is also expected to increase between 30 percent and 50 percent in the near future. Some companies are also moving more work offshore to cater to demand. KPIT Cummins Infosystems, for instance, plans to hire close to 1,200 employees in India this fiscal, its biggest expansion in two years.
Source : 11-10-11   Financial Chronicle   Compiled by
FICCI: Industry Facing Skills-Pay Gap
The corporate sector is facing a shortage of skills and a spiraling wage bill. Around 90 percent of respondents said they were facing labour shortages and higher wage demands, according to a survey by the Federation of Indian Chambers of Commerce and Industry (FICCI). Compensation packages have grown faster than the performance of executives, according to Mercer. Lack of competition has led to senior managers being given pay increases disproportionate to their performance. The problem is seen among bosses as well. Hans Kothuis, a labour market specialist at Mercer, said the still-significant salary increase in real terms of 3.2 percent to 5.2 percent seems to reflect shortages in specific skills.
Source : 11-10-11   Financial Express   Compiled by
Philips TV Deal At Risk, Plans 4,500 Job Cuts
Philips Electronics has all but abandoned hope of selling its loss-making TV business by the end of the year and is considering its options should the deal collapse altogether."The global TV market has deteriorated, and obviously the sooner we complete this the better, but we first need to finalise the negotiations, and whether we can do that this year or into the first quarter of 2012, there are some uncertainties with that planning," Chief Executive Frans van Houten told reporters. Philips -- the world's biggest lighting maker, a top three hospital equipment maker, and Europe's biggest consumer electronics producer -- said negotiations to sell off most of its TV business to Hong-Kong based monitor-maker TPV were intense, constructive and taking longer than expected.
Source : 17-10-11   Compiled by
RBS Cancels Christmas For Investment Bankers
Royal Bank of Scotland is canceling Christmas for its investment bankers this year as the government-owned lender tries to reduce costs. The bank will stop subsidising holiday parties and has banned staff entertainment for the rest of the year, Chris Kyle, chief financial officer of RBS’ investment bank, wrote in an e- mail to employees obtained by Bloomberg News. A spokesman for the lender confirmed the contents of the memo.RBS reduced its spending on holiday parties to $16 a head, enough to buy two pints of lager and a packet of potato chips, after receiving the biggest banking bailout in the world in the financial crisis. The lender announced 2,000 job cuts at the securities unit in August.
Source : 16-10-11   Hindustan Times   Compiled by
Survey: Hiring To Ride On Good H1 Showing
Indian firms are optimistic about economic growth in the second half of the current fiscal and plan to recruit more. Robust performance during the first half of the year has seen The Regus Global Business Confidence Index for India gained 11 points at 145.A Regus survey, conducted among 12,800 business respondents globally during September, found that more than half of Indian companies have reported a growth in revenue and profit in the first half of 2011-12. Overall, 70 percent of Indian companies surveyed plan to increase their headcount in the next two years, compared to the global average of 64 percent. Businesses are likely to hire freelance and remote staff. Around 49 percent plan to hire more freelance staff and 40 percent of firms surveyed will employ more remote workers in 2011-12, clearly a move toward more flexible work practices.
Source : 11-10-11   Hindu Business Line   Compiled by
The Social Media Threat At Workplace
Low employee productivity and reduced information technology (IT) bandwidth are the biggest drawbacks of the rise in the use of social media at work, according to a survey.A total of 90 per cent respondents in a global survey on the risks of social media, conducted by Ponemon Institute, say the use of social media at work hits the productivity of employees, while 73 per cent say it results in low IT bandwidth. The study surveyed nearly 5,000 IT and IT security practitioners across 12 countries, including the US, the UK, France, Germany, India and Brazil.Lack of clear IT policies for social networks has started taking a toll on Indian companies. About 39 per cent organisations do not have a policy that informs employees about the acceptable use of social media in the workplace and in the ones that do, only 49 per cent respondents say the policy is enforced. Though the study reveals most respondents feel social media at work represents a serious security risk, only 29 per cent have the necessary security controls in place to mitigate the risks. Nearly half of those surveyed agreed viruses and malware infections were increasing as a result of the use of social media.
Source : 12-10-11   Business Standard   Compiled by
Global Trends In Student Mobility Shifting
New York–based World Education Services says international student mobility has been transformed by two major events, 9/11 and the recession of 2008.The U.S. was an undisputed leader in global higher education until 9/11, which forced it to tighten visa requirements for students. Australia and the U.K. made use of the opportunity, absorbing most of the growing numbers of international students. Overseas student enrolment in higher education in Australia and the U.K. grew by 81 percent and 47 percent, respectively, between 2002 and 2009, compared to 18 percent growth in the US. The U.S. hit its lowest point in 2005-06 when the figure declined by 21,500 compared to 2002-03. In contrast, enrolment in Australia and the U.K. universities increased by 85,000, a growth attributed to commission-based recruitment models.
Source : 11-10-11   Hindustan Times   Compiled by
Kingfisher Says Capital Crunch Hurting Salary Payments
Kingfisher Airlines Ltd has told employees that a looming capital crunch coupled with a gloomy economic environment is making it difficult for the carrier to pay salaries on time.The Vijay Mallya-led airline has been under financial stress for the past two years and has delayed salaries to employees for the second consecutive month. Salaries are typically disbursed on the seventh day of a month, but employees had received neither salaries nor a message explaining the delay, “You are aware that Kingfisher has been trying to raise capital for some time now. Due to uncertain economic global climate, we have not been successful yet,” chief executive Sanjay Aggarwal wrote in an email to employees. Kingfisher has been trying to raise up to $250-350 million (Rs. 1,222-1,7111 crore) through the issue of global depository receipts and domestic offerings or a rights issue, but has not been able to do so yet. Its lost Rs. 1,027 crore in the fiscal year ended 31 March, by when it had accumulated Rs. 7,057.08 crore in debt.
Source : 16-10-11   Livemint   Compiled by
BS Transcomm Names Northern Region COO
RK Dubey has joined BS TransComm, a turnkey services and technology solutions provider to the power transmission and distribution systems and telecom sectors, as COO for the northern region. He joins from Vihan Enterprises, where he was CEO.
Source : 12-10-11   Hindu Business Line   Compiled by
National Manufacturing Policy Will Create 100 Mn Jobs: CII
The National Manufacturing Policy, recently cleared by a group of ministers (GoM), will increase manufacturing sector's contribution to the gross domestic product (GDP) and create 100 million jobs, a leading industry lobby said. "The GoM’s clearance of the policy has raised industry’s hopes for an early announcement of the National Manufacturing Policy, which aims to enhance manufacturing contribution to 25% by 2025," said Confederation of Indian Industry (CII) Director General Chandrajit Banerjee."It also aims to create 100 million jobs and put manufacturing sector into a high growth trajectory, making India a favoured destination for manufacturing," he added. Currently the manufacturing sector contributes 15% to India's GDP as compared to 34% in China, 40% in Thailand and and 26 to 30% in South Korea, Poland, Turkey and Malaysia
Source : 16-10-11   Hindustan Times   Compiled by
T. N Narayanasami Quits As Use Chief
United Stock Exchange Chief T S Narayanasami has quit as Managing Director of the country's newest bourse, just over a year after it commenced operations. "T S Narayansami has resigned for personal reasons from being MD (Managing Director). However, he will remain on the board of USE (United Stock Exchange)," the exchange said in a statement.When contacted, Mr.Narayanasami confirmed that he has tendered his resignation, but did not divulge the reasons or any further details. However, industry sources said that Mr. Narayanasami had some differences with other senior management personnel and certain promoters of the exchange, which led to his resignation.
Source : 10-10-11   Compiled by
Infosys Looks To Recruit 45,000 By March
Unfazed by the economic uncertainty in the U.S. and European economies, Infosys is planning to recruit 45,000 employees by the end of the fiscal year. The IT company will hire 8,000 people in the third quarter ending December. Infosys made a gross addition of 15,352 employees and net addition of 8,262 for the quarter ended September 30. The numbers for the previous year were 14,264 and 7,646, respectively. Freshers made up the bulk of the new hires, with laterals numbering 2,318. The company saw attrition falling somewhat in the September quarter. Attrition levels were down to 15.6 percent compared to 15.8 percent in the previous quarter and 17.1 percent in the year-ago period. Infosys has introduced various measures and employee engagement programmes without changing its hikes and promotion cycles, said SD Shibulal, CEO and managing director.
Source : 13-10-11   Hindustan Times   Compiled by
Festival Season Hiring On Rise Amid Hopes Of Increase In Sales
Festival season hiring has picked up in sectors like automobiles and consumer goods amid hopes of better sales during the festival season. With Retail outlets, hotels, restaurants, logistic companies and even telecom firms hiring temporary staff to manage the increased footfall during the festival season or September-December months, festive hiring has gone up by over 25 per cent this year. Though it is usually unorganised sector, according to Indian Staffing Federation (ISF) over one lakh job opportunities are likely to be created across the sectors, in the short span of just four months. ISF is a congregation of India's largest staffing companies.
Source : 13-10-11   Business Standard   Compiled by
Educated Women May Opt Not To Work
Higher education in women’s does not translate into higher labour participation, the World Bank’s World Development Report 2012 on “gender and development” has said.It said that the relationship between women’s education and higher spousal wages is inverse with labour force participation.Even as women in urban India are increasingly getting prosperous, females still have an overall survival deficit in childhood and during their reproductive years and are severely disadvantaged in the labour market.“Education lowers the likelihood of women’s participation in the labour force,” said Maitreyi Bordia Das, Lead Social Development Specialist, the World Bank.”said Maitreyi Bordia Das, Lead Social Development Specialist, the World Bank.She put forward two arguments to support the conclusion: The first is a supply-side argument, where the supply of secure well paid jobs for educated women is low. So educated women, belonging to the higher socioeconomic strata “prefer to opt out of the labour force rather than accept low-status jobs”.The second is a demand-side argument that rests on the cultural mores, which prevents women belonging to higher status to work or demand jobs, making their workforce presence inverse.
Source : 13-10-11   Compiled by
MAPE Advisory Hires I-Banking Head
MAPE Advisory Group, a boutique investment bank, has appointed Sunil Mehra as Managing Director of investment banking. He will be responsible for handling mergers and acquisitions, private equity and equity corporate finance. Previously, Mr. Mehra was with Standard Chartered Bank as managing director of corporate finance group.
Source : 18-10-11   Business Standard   Compiled by
Higher Degree Of Risk In Job, So Traffic Plans Higher Insurance Cover For Its Personnel
Acknowledging that its duties involve a “higher degree of risk”, the Delhi Traffic Police is looking at a plan to provide additional insurance cover to its personnel. The move comes days after a traffic policeman was killed by a speeding SUV on the DND Flyway.Traffic police officials said an additional insurance cover was needed because of the “higher degree of risk” involved with the job. “In traffic, officials are dealing with moving vehicles, there is always a higher degree of risk involved in the job. Officials are deployed on the road, which is accident prone, with a greater threat to life. So we are thinking of an insurance cover for them,” said Joint Commissioner of Police (Traffic) Satyendra Garg. Under the the existing arrangement, if a traffic policeman dies on duty, an in-built insurance cover provides Rs. two lakh to his family along with grants from the welfare fund. Even the salary drawn by the policeman at the time of death is given to his family every month till the date he was due to retire.
Source : 12-10-11   Compiled by
IIMS To Get A Research Booster
The government has been spurred into action by the failure of any Indian business school to make it to the list of top 100 management institutes in the world. The Ministry of Human Resource Development has decided to pump Rs 95 crore into the Indian Institutes of Management (IIMs) to increase their research output fivefold. IIM Ahmedabad, IIM Bangalore and IIM Kozhikode, Indore and Lucknow will receive the grant in the next five years. Most of these IIMs produce an average 15 to 20 fellows every year. The IIMs can meet their regular expenses from the MBA fees “but for fellowships, we have to step in,” said a ministry official. To continue receiving public funds, IIMs must play a part in enhancing the quality of management education and lead in excellence and thought leadership, according to the RC Bhargava review committee.
Source : 13-10-11   Financial Express   Compiled by
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