Wednesday, 12 October 2011

HR Headlines

India Inc's Expat Hiring Up 20 pc So Far This Year
With hiring activities in most Western economies in deep freeze, more and more foreigners, mostly from the US and Europe, are looking at India for jobs, a trend that has resulted in an up to 20 per cent jump in expat hiring this year, according to headhunters. According to industry estimates, there are as many as 40,000 expats working in various industries across the country today. "Hiring of expats has picked up by 15-20 per cent at all levels since last year, mainly on account of India being one of the fastest growing economies, offering huge job opportunities," recruitment process outsourcing firm Elixir's Consulting Manager for International Practices, Ratnesh Kumar said.
Source : 10-10-11   IBN   Compiled by
Survey: Services Sector Shrank In Sept
The services sector contracted in September as new orders fell, as per a survey of 350 private sector executives. Employment levels fell for the second successive month owing to a virtual stagnation in overall economic activity. The seasonally adjusted Service Sector Business Activity Index fell from 53.8 in August to 49.8 in September, the HSBC Purchasing Managers Index showed. A drop below 50 indicates contraction, while a rise above 50 indicates improved economic activity. This is the first time since April 2009 that the services sector has recorded negative growth. The decline could be attributed to lower demand for offshoring and IT and ITeS from the U.S. and in Europe, where several economies are facing debt problems. Financial services have also been affected as banking activity has slowed on account of higher interest rates.
Source : 06-10-11   Financial Express   Compiled by
Skilled Indians May Have To Wait For 70 Years For US Green Card!
Professionally qualified Indians may have to wait as long as 70 years to get their Green Card in the US, a new study has said, amid growing concerns that the current country-specific quota policy poses a major hurdle in attracting talent from countries such as India and China.“Our system for allowing employers to sponsor skilled foreign nationals for permanent residence (a Green Card) is plagued by inadequate quotas that result in years of waiting and frustration,” the Washington-based National Foundation for American Policy (NFAP) said in a report.An October 2011 NFAP study analysed the employment-based Green Card backlog and produced findings that should give pause to policymakers. The study concluded: “A highly skilled Indian national sponsored today for an employment-based immigrant visa in the third preference could wait potentially 70 years to receive a Green Card.”Many skilled foreign nationals from China have been waiting six to seven years and can expect to wait additional years, it said.
Source : 06-10-11   Hindu Business Line   Compiled by
B-Schools Cheer Return Of Companies
Most private institutes say they are in for a good season with offers for summer jobs picking up, despite fears of a global slowdown and job cuts. Top private B-schools have reasons to cheer with the summer internship scenario hotting up. Institutes have managed to rope in big players from both domestic and international companies across the spectrum, despite the slowdown fears.“We began our summer placements last week. We are focussing more on engaging companies on campus through leadership talks or case study activities this year. This gives the companies a chance to visit the campus and engage with the students in live projects and assess them. It is proving to be a better tool,” said a placement committee member from the Bhubaneshwar-based Xavier Institute of Management (XIM-B).Last year, the institute had invited 60 companies on campus, but this year the number has swelled to keep pace with the growing number of students per batch — from 180 last year to 240 students this year.Most B-schools begin summer placements in October, and the seven top institutes Business Standard spoke to said during the current season the response to summer placements has been good, in spite of the fact that batch sizes have increased between 15 and 20 per cent. B-schools have also been very aggressive, evolving new strategies to woo companies.
Source : 06-10-11   Business Standard   Compiled by
Lay-Offs See Execs Running For ‘Job-Loss Cover'
With lay-offs increasing, many employees are opting for a “job loss” insurance to help them tide over the period they remain unemployed. Insurance companies are offering this cover with variations. ICICI Lombard General Insurance pays three equated monthly instalments (EMIs) in the event of a loss of job as part of its Secure Mind policy.Bajaj Allianz General Insurance and HDFC Ergo General Insurance offer similar options. “At present we offer this cover to a select customer segment, which is primarily the home-loan takers. Presently, it is offered to salaried persons who have been laid off due to mergers and acquisitions,” says TA Ramalingam, head underwriting, Bajaj Allianz. Bharti AXA General Insurance plans to offer it as an add-on to its health insurance products. The Ministry of Labour and Employment has estimated the unemployment rate at 9.4 percent of the labour force, or around 40 million
Source : 06-10-11   Hindu Business Line   Compiled by
Aon Hewitt Appoints MD For India
Aon Hewitt has appointed Pavan Bhalla as executive vice president and managing director for India. He will be responsible for the outsourcing and technology businesses of Aon Hewitt in India. Bhalla replaces Arjun Singh who is leaving the firm. He will report to Kristi Savacool, CEO of Aon Hewitt. Before that, he was CFO at Harris Interactive, a custom market research firm.
Source : 07-10-11   Compiled by
TATA Steel Appoints HR Chief
P Senthil Kumar has been appointed as Chief Human Resource Officer at Tata Steel, in the level IL1. He will operate from Jamshedpur and report to H. M Nerurkar, Managing Director, Tata Steel Limited.Welcoming P. Senthil Kumar, H.M Nerurkar, MD Tata Steel said “It gives me immense pleasure to announce P Senthil Kumar as Chief Human Resource Officer. On behalf of the Tata Steel family, I welcome him whole-heartedly and wish him the very best”
Source : 07-10-11   Compiled by
Nasscom Reiterates 16-18% Growth Estimate In IT Sector
Industry body Nasscom has maintained its estimate of 16 percent to 18 percent growth in the IT sector, terming the outlook as positive. Nasscom President Som Mittal has dismissed the term “recession” to describe the times, saying the situation can only be described as “uncertain” at best. The resilience of the industry can be seen in software exports which were $1 billion in 1990. The figure jumped to $8.2 billion between 1990 and 2000 and increased seven fold to $75 billion the decade after. “Uncertain” times will also result in U.S. and European companies looking to offshore even more work. Deals are happening as companies look to move applications to cloud, mobile and social media platforms, Mr. Mittal added.
Source : 05-10-11   Hindu Business Line   Compiled by
Lay-Off Fear Creeps In As Major Operators Opt For Organisational Rejig
A recent wave of restructuring at Bharti Airtel, Reliance Communications and Tata Teleservices has resulted in large-scale layoffs. Bharti Airtel laid off several hundred employees as it realigned its India and South Asia operations. It recently combined various segments, including mobile and digital TV,into two separate business units.Reliance Communications has merged its three business divisions, a move which could render 700 employees jobless. A reorganization of its wireless business is aimed at improving the ratio of front-end staff to back-end staff from 60-40 to 75-25. Tata Teleservices too has set out to merge its CDMA and GSM businesses, which could result in reassigning of functions internally and some attrition.All three operators have invested heavily in securing licenses for 3G airwaves, a technology that has found few takers.
Source : 04-10-11   Hindu Business Line   Compiled by
QX To Hire 250 People In India
UK-based outsourcing service provider Quality and Excellence (QX) said that it would be hiring 250 people in India in next one year as it aims to double its operational capacity here."We will be hiring close to 250 people in India in next one year as we aim to double our operational capacity here," company spokesperson Shomindra Chakravarti said.The UK headquartered company providing high-end Financial and Accounting (F&A) services has diversified into new verticals like Recruitment Process Outsourcing and IT Solutions and has a workforce of over 250 individuals presently.
Source : 04-10-11   Financial Express   Compiled by
Electronics Policy Eyes 28 Million Jobs By ’20
India is looking to generate $400 billion in revenue from the electronic manufacturing sector by 2020. The proposed National Policy of Electronics 2011, which will involve an investment of $100 billion, aims to create 28 million jobs in this decade. A draft of the policy released by the information technology department proposes to set up more than 200 electronic manufacturing clusters, and create a 10-year stable tax regime for the electronics systems and design manufacturing industry (ESDM). The policy will aim at creating linkages between the domestic ESDM industry and strategic sectors such as defence, atomic energy and space for long-term partnerships.
Source : 03-10-11   Livemint   Compiled by
Nokia India MD To Head 90 Countries
Announcing restructuring of its global sales network, Finnish mobile phone maker Nokia said its India head D Shivakumar has been promoted to head business in around 90 countries across the Middle-east, the African region and India." Mr. Shivakumar has done an exceptional job in India. He brings the best of talent from the India market. We would like to capitalise on his experience and capability that he has and bring it to the Middle-East and the African region," Nokia Corporation Executive Vice President (Sales) Colin Giles told reporters. Mr. Shivakumar took over Nokia in India amid rising competition from other low-cost phone makers, especially Chinese. Besides, the company faced intense competition in the smart phone segment from companies such as Samsung, Apple and BlackBerry. The company had seen erosion in its market share from about 75 per cent a few years ago to about 39 per cent overall, according to some estimates.
Source : 03-10-11   Financial Express   Compiled by
Google Remains Most Attractive Employer
Internet search giant Google has been ranked as the best company to work for by management and engineering graduates in two separate surveys, which term the company the world's "most attractive employer" of 2011.According to the survey conducted by global employer branding firm Universum, Google has been ranked at the top of its 2011 list of the top 50 global businesses and engineering companies to work for -- the third year in a row.The search giant has been dubbed the most attractive employer by more than 160,000 people from Brazil, Canada, China, France, Germany, India, Italy, Japan, Russia, Spain, the UK and US looking for the right place to work.
Source : 03-10-11   Financial Express   Compiled by
E-Commerce Firms Optimistic, Hire More
Internet companies eager to cash in on the booming e-commerce space are hiring aggressively. Professionals are being hired across categories such as technology, content, back-end supply chain and customer care., a fashion and shopping portal, began the year with 150-200 employees and has already scaled up to 800. It plans to reach 1,200 to 1,400 by, which allows visitors on its site to compare prices and shop online, is planning to add 400 employees to its existing 1,000.E-commerce companies are not the only ones talking expansion., an online classifieds company, is looking at taking in more than a hundred employees in the next one year. The Internet and Mobile Association of India estimates that the net commerce market size in India will grow 47 percent and touch Rs 46,520 crore by the end of 2011.
Source : 02-10-11   Hindu Business Line   Compiled by
New President of Bombay Commodity Exchange
Mr. Jitesh N. Nisar has been elected the President of Bombay Commodity Exchange Ltd at the 84th annual general meeting held last week. Mr Kaushal P. Chheda has been elected Vice-President; Mr Anil H. Chheda Director Finance and Mr Mahendra D. Chheda Director-Administration.
Source : 04-10-11   Hindu Business Line   Compiled by
Mcdonalds To Expand, Hire More
McDonald’s India is planning to expand and increase its headcount in the western and southern regions. As part of the drive, the company will be hiring around 7,000 people, inclusive of store management. Hardcastle Restaurants, recently appointed development licensee by McDonald’s Corp., has been empowered to develop the brand, Hardcastle Vice Chairman Amit Jatia said. McDonald’s will be creating well over 10,000 jobs for local people in the next two to three years, he added. Around 50 percent of the recruitment will be for south India. “These will be at the restaurant levels, for crew members at various McDonald’s outlets across the region,” he added. McDonald’s is gearing up with many HR initiatives. The company has also tied up with specialised institutions to provide specific training and skills in spoken English, store management and retail.
Source : 02-10-11   Deccan Herald   Compiled by
Anz To Freeze Salary Of Most Top Officials
Australia and New Zealand Banking Group, has frozen pay for most of its top executives, according to a company memo, as it struggles to cut costs in a challenging operating environment.ANZ Chief Executive Michael Smith in a memo to staff said there would be only a very limited salary increase budget of 1 percent for the top 900 executives as part of the 2011 performance and remuneration review.
Source : 11-10-11   Compiled by
Vikas Khattar Is Head Of Global Capital Markets, Morgan Stanley India
Global financial services firm Morgan Stanley has appointed Vikas Khattar as a managing director and head of global capital markets in India. In his new role, Mr. Khattar will handle the firm’s equity and debt capital markets businesses. He will report to Crawford Jamieson and George Taylor, Hong Kong based co-heads of global capital markets in Asia Pacific.“With over fifteen years of industry and client experience and having executed over a hundred transactions, we believe Vikas will be a key asset to the firm in further strengthening our successful capital markets franchise in India. Our commitment to client servicing combined with top-class expertise and knowledge, will continue to differentiate us in the industry,” said George Taylor.
Source : 03-10-11   VC Circle   Compiled by
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