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Sunday, 30 April 2017

QUOTE OF THE DAY

"You can find your way across this country using burger joints the way a navigator uses stars."

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"Art evokes the mystery without which the world would not exist."

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Friday, 28 April 2017

Did you know...



... that today is International Congress of Women Day? The International Congress of Women convened on this day in 1915 at The Hague, Netherlands, with more than 1,200 delegates from 12 countries. The meeting was dedicated to the cause of peace and a resolution of the great international conflict that was World War I.

~~~

Today's Inspirational Quote:

"Never be in a hurry; do everything quietly and in a calm spirit. Do not lose your inner peace for anything whatsoever, even if your whole world seems upset."

-- Saint Francis de Sales

Quote of the Day

"I never paint dreams or nightmares. I paint my own reality."

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"I will do my best. That is all I can do. I ask for your help - and God's."

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"Age is not important unless you're a cheese."

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25 useless buzzwords to give up !

Illustration: Ashley Siebels
LEVELLING UP

Please stop saying these ridiculous buzzwords at work

At first, euphemisms surfaced in the workplace to help people deal with touchy subjects that were difficult to talk about. Before long, they morphed into corporate buzzwords that expanded and took over our vocabulary until our everyday conversations started sounding like they’re taking place on another planet.
“Listen Ray, I don’t have the bandwidth for it with everything that’s on my plate, but ping me anyway because at the end of the day it’s on my radar and I don’t want to be thrown under the bus because I didn’t circle back around on this no-brainer.”
I understand the temptation. These phrases are spicy and they make you feel clever (“low hanging fruit” is a crutch of mine). But they also annoy the hell out of people.
If you think that you can use these phrases without consequence, you’re kidding yourself. Just pay close attention to how other people react to your using them, and you’ll see that these phrases don’t cast you in a favorable light.
After all, TalentSmart has tested the emotional intelligence of more than a million people and one of the biggest need areas for most people is social awareness. Most of us are so focused on what we’re saying and what we’re going to say next that we lose sight of how our words affect other people.
So give this list a read, think of how often you use some of these words, and see if you can catch yourself before you use them again.
Have some fun with it, because at the end of the day if you don’t hit the ground running you can always go back to the drawing board and get the ball rolling…
  1. At the end of the day
  2. Back to the drawing board
  3. Hit the ground running
  4. Get the ball rolling
  5. Low hanging fruit
  6. Thrown under the bus
  7. Think outside the box
  8. Let’s touch base
  9. Get my manager’s blessing
  10. It’s on my radar
  11. Ping me
  12. I don’t have the bandwidth
  13. No brainer
  14. Par for the course
  15. Bang for your buck
  16. Synergy
  17. Move the goal post
  18. Apples to apples
  19. Win-win
  20. Circle back around
  21. All hands on deck
  22. Take this offline
  23. Drill-down
  24. Elephant in the room
  25. On my plate
What phrases are your pet peeves?
This article originally appeared on LinkedIn.

Tuesday, 25 April 2017

Quotes of the day.

"To send light into the darkness of men's hearts - such is the duty of the artist."
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For every complex problem there is an answer that is clear, simple, and wrong."
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"He has achieved success who has worked well, laughed often, and loved much."
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Thursday, 20 April 2017

HR Headlines : courtesy naukri.com

BFSI sector saw an increase of 26% from 2404 in Mar 2016 to 3036 in Mar 2017: Naukri JobSpeak
The Naukri JobSpeak index for Mar’17 at 2073 was 5% up from Mar’16, indicating an upsurge in the overall hiring scenario. BFSI gained the most during Mar’17 with a 26% increase in hiring as compared to Mar’16. Key industries like Construction and BPO/ITES saw a 9% growth, while IT-Software remained buoyant in Mar 2017 as compared to Mar 2016. Major metro cities recorded a YOY fall in Mar’17 as compared to Mar’16. Commenting on the report, Mr. V. Suresh, Chief Sales Officer, Naukri.com said, “Jobspeak index continues to move north with a 5% YOY growth in March 2017. Good to see sectors like Construction, Engineering & BFSI showing significant growth. Though there could be some short-term volatility, looks like the markets will gain momentum in the next few quarters.”
Source : 20-04-17   Naukri.com   Compiled by www.naukri.com
As US visa troubles deepen, more Indians look to come back
More Indians living in the US want a job back home after Mr. Donald Trump became the president of the world’s largest economy. The number of Indians in the US searching for jobs in India has gone up more than 10-fold between December and March, according to an analysis by consulting firm Deloitte Touche Tohmatsu Pvt. Ltd .There were approximately 600 US-based Indians seeking jobs in India in December 2016. By the end of March 2017, the number had gone up to approximately 7,000, Deloitte analysis said. This data comes amid a crackdown by the Trump administration on job visas for skilled workers, including software engineers from India. US Citizenship and Immigration Services said employers seeking H-1B work visas—a non-immigrant visa allowing American firms to employ foreign workers—for 2018 declined for the first time in five years. The surge in the number of applicants has been triggered by Mr. Trump’s vows to protect jobs for locals. As per reports Mr. Trump will take aim at information technology outsourcing companies when he orders a review of H-1B visa programmes to favour more skilled and highly paid applicants. Companies such as Tata Consultancy Services Ltd, Cognizant Technology Solutions Corp. and Mphasis Corp. as examples of outsourcing firms that would likely have fewer visas approved once the changes are adopted. The H-1B work visa programme channels thousands of foreign workers to the US technology industry. “While US companies will find some tech talent in the US, the numbers might be less than what are required to meet their needs. Add to that, the wages they need to pay to US employees will be much higher than what they pay to H-1B visa holders,” said Mr. C.K. Guruprasad, a consultant with executive search firm Spencer Stuart.
Source : 19-04-17   Livemint.com   Compiled by www.naukri.com
Uber's VP of global vehicle programs is the latest executive to quit the embattled company
Yet another high-level executive has jumped ship from Uber. This time it's Mr. Sherif Marakby, vice-president of global vehicle programs, who helped launch the company's crucial (and embattled) self-driving car program. Mr. Marakby, who joined a year ago, in April 2016, said in a statement: "Self-driving is one of the most interesting challenges I've worked on in my career, and I'm grateful to have contributed to what will soon be a safer future for everyone." Mr. Marakby is only the latest in a long line of executives to quit Uber in recent months, which is engulfed in multiple scandals, from allegations of a culture of sexism to a lawsuit brought against it by Google's Waymo accusing it of stealing confidential information to use in its self-driving car program.
Source : 18-04-17   Businessinsider.com   Compiled by www.naukri.com
Snapdeal crisis: Employees may lose wealth worth crores promised under ESOPs
Former senior employees of e-commerce firm Snapdeal who were lured through attractive employee stock option plans (ESOPs) are a worried lot these days. Recently, founders, Mr. Kunal Bahl and Mr. Rohit Bansal in an e-mail, tried to assure the existing employees that the well-being of employees if their top and only priority. But, there is little clarity in terms of what happens to these employees or even the former employees ESOPs offered to them at the time of joining. ESOPs are benefit plans that are offered to employees in the form of stakes in the company. Employees can liquidate their ESOPs when the company goes for a buyback event. Usually, it happens either when a company raises a funding round or when it goes for an initial public offering. In the last couple of years, there have been multiple instances where ESOPs have been regarded to be game changers. Citrus Pay made multiple employees including one of its peon, millionaires when it got acquired by larger rival PayU last year. Around 47 employees at online payments and e-commerce firm Paytm were also able to sell off shares worth about Rs 100 crore to both internal and external buyers in the last couple of months, according to a media report. Unfortunately, Snapdeal is going through a moment of crisis. A potential takeover by Flipkart and the devaluation of the firm from a whopping USD 6.5 billion earlier to about USD 1 billion now, is likely to turn its employee’s stock options into just papers.
Source : 14-04-17   Moneycontrol.com   Compiled by www.naukri.com
Reliance introduces 12-week maternity leave for ‘commissioning’ mothers
Reliance Industries has introduced a 12-week paid leave for ‘commissioning’ mothers who use surrogates to bear a child, as it adopted provisions of the new maternity law. “With effect from 1 April 2017 there will be extension of maternity leave to 26 weeks (182 calendar days), from 180 days, for regular employees,” RIL’s HR department said in a notice to company employees. A similar period of paid maternity leave will be provided for fixed term and trainee employees, up from current 84 days period. As per the new law, entitlement of maternity leave for third child onwards will be 12 weeks (84 calendar days). Also, RIL extended “adoption leave to 12 weeks, from 28 days, for a woman/single father colleague who adopts a child less than three months of age.” It introduced a 12-week leave for ‘commissioning mothers’, the notice said. Commissioning mothers are those who use surrogates to bear a child. The leave for such mothers is the same for working women adopting a baby below the age of three months. The 12-week period of maternity leave will be calculated from the date the child is handed over to the adoptive or commissioning mother. Parliament had last month passed new bill on maternity benefits for about 1.8 million women in the organised sector. The Maternity Benefit (Amendment) Bill, 2016 applies to all establishments employing 10 or more people. The Maternity Benefit Act, 1961, protects the employment of women during the time of her maternity and entitles her full paid absence from work, to take care of her child.
Source : 18-04-17   Livemint.com   Compiled by www.naukri.com
Mr. Kirti Varun appointed as VP of Product Management at ShopX
ShopX, a digital offline platform that powers small retailers announced the appointment of Mr. Kirti Varun, from Amazon, as the Vice President of its Product Management function. Mr. Varun joins ShopX as Vice President of Product Management and will be a part of ShopX's leadership team, the city-based company said in a statement here. He will work closely with co-founders Mr. Amit Sharma (CEO) and Mr. Apoorva Jois (COO) to help it to achieve its mission of organizing commerce in India through technology to make it accessible and valuable to everyone, it said. Prior to ShopX, Mr. Kirti was a Principal Product Manager with Amazon India, where he was responsible for building India-specific product innovations to improve key customer inputs such as Pricing, Inventory, Affordability and Selection, it said in a release. "This is an exciting time for ShopX as we are scaling up our retailer base rapidly with a sharp focus on unit economics and profitability. With our digital offline model, we have been able to offer a wide range of products across categories through our 45,000 plus retailer network," ShopX CEO Mr. Amit Sharma said. Within 18 months of launch, ShopX has empowered 45,000 small retailers in 230 towns across 10 states in the South and West of India, serving more than 3 million customers, the company said. `The company aims to provide the 600-million middle-income population in India (as against the current 50 million active internet buyer base) access to e-commerce through its retailer network, it added.
Source : 17-04-17   Dnaindia.com   Compiled by www.naukri.com
TCS shrugs off H-1B Concerns, says hiring locally in US
India's largest IT company Tata Consultancy Services' (TCS) CEO Mr. Rajesh Gopinathan said that the company is unperturbed by the possible H-1B visa restrictions and it is willing to make "changes accordingly." Speaking to investors at its post-earnings press conference, Mr Gopinathan said the current discourse on the H-1B issue is driven by emotions rather than economy and the best way to tackle it is through greater engagement. Responding to questions on a potential executive order or legislations being talked about lawmakers, Mr Gopinathan asserted that there is no law currently in the US that is discriminatory. The comments come at a time when US President Mr. Donald Trump is set to sign an executive order that seeks to closely regulate the process of issuing the H-1B visas, a move which has created concerns for Indian IT outsourcers who rely on highly skilled Indian IT employees to run their foreign operations. US - the company's largest market - has been a "very welcoming" for the IT major and has provided it with a fair, open and competitive environment, Mr Gopinathan said. Shrugging of fears of prosecution by US officials, Mr Gopinathan said, "TCS has been complaint with directives by a regime and continue to remain so." Mr Gopinathan, who succeeded Mr. N Chandrasekaran as the CEO in January, said that the company has been hiring local hands to support operation in the US and has been increasing hiring locally for a few years now. TCS' main rival Infosys which reported its earnings on April 14 had also said it would focus more on local hiring in the US and is also looking at setting up development and training centres in the country as part of its efforts to tide over visa-related issues.
Source : 18-04-17   Profit.ndtv.com   Compiled by www.naukri.com
Infosys former CFO Mr. Rajiv Bansal demands Rs 12 crore amid controversy over salary hikes
Months after Mr. NR Krishnamurthy advised Infosys Board to refrain from hefty pay for the top executives, the IT Company has been dragged to an arbitral tribunal by its former CFO Mr. Rajiv Bansal over promised severance package. Mr. Rajiv Bansal is fighting for the portion of his controversial severance pay that Infosys has held back. Mr. Rajiv Bansal, who left Infosys in 2015, was promised to pay Rs 17.38 crore in severance, equalling 24 months of pay. However, Infosys's co-founder Mr. NR Krishnamurthy slammed the Infosys Board's decision and its falling governance standard. Mr. Murthy termed the severance pay as 'hush money' and said: "Providing huge severance pay (with 100 per cent variable) to some departing employees while giving only 80 per cent variable for employees in the company is one such example. Such payments raise doubts whether the company is using such payments as hush money to hide something." Mr. Murthy said that such 'generosity' - severance pay - points to utter arrogance towards honest employees, total lack of fiduciary responsibility, and an unbelievable lack of application of mind. Mr. Murthy was not the only one who found severance pay against the company policy, Infosys's former Chief Financial Officer Mr. Mohandas Pai raised the similar concern and said: "The founders who have built the company and created a value system have raised serious issues. As far as I know, no CFO in India has got a 24-month separation." It seems, the Infosys Board came under pressure and paid only Rs 5 crore to Mr. Rajiv Bansal. Now, Mr. Bansal has invoked his rights to an arbitral tribunal for the remaining pay.
Source : 20-04-17   Businesstoday.in   Compiled by www.naukri.com
Jet Airways local pilots allege ‘step-motherly’ treatment
Jet Airways is treating Indian pilots in a “step-motherly” manner compared to their expat counterparts on the rolls, pilots’ body NAG claimed. Demanding swift action against alleged racist approach of the expat pilots at the airline, the National Aviators Guild (NAG) called for disallowing such pilots in the cockpit. The grouping’s statement follows its direction on April 15 asking its members not to fly with the expats in the cockpit after one of the foreign pilots allegedly assaulted a trainer in Bengaluru recently. Jet Airways has some 60 expat commanders, who mainly operate its Boeing 737 and ATR fleet. In a strongly-worded statement, NAG said disparaging, inappropriate and racist comments allegedly made by certain expat pilots cannot be taken lightly. “This is in addition to the verbal and physical abuse of a senior trainer by an expat pilot employed by the airline,” NAG claimed. “The management has for a very long time treated the Indian employees, including the pilots, in a step—motherly manner and has disregarded the legitimate expectations of its employees to be treated fairly, reasonably and in a just manner.”
Source : 19-04-17   Thehindu.com   Compiled by www.naukri.com
Performance will decide compensation for bankers, says RBI
Compensation of bankers will soon be based on the performance of their banks, according to the Reserve Bank of India. In the revised prompt corrective action (PCA) norms proposed by the central bank last week, banks which do not meet financial parameters set by the RBI, would face restrictions on compensations for directors and management including the chief executive officers and executive directors. The restriction on compensation has been recommended as one of the mandatory actions by RBI towards banks that breach the third-level risk threshold when it comes to either capital, bad loans or profitability. The third-level threshold includes capital that is below the indicator by 3.625 percent, net non-performing loans above 12 percent and negative return on assets (ROA) for four consecutive years. Current minimum prescription to maintain capital is 10.25 percent with 9 percent minimum total capital plus 1.25 percent counter cyclical buffer. The PCA framework, RBI said, would apply without exception to all banks operating in India including small banks and foreign banks operating through branches or subsidiaries based on breach of risk thresholds of identified indicators. Encumbered with the heavy bad loans in their books and slower loan growth, many banks are struggling to find profitability and raise capital. However, this may put a pause on a Bank Board Bureau's proposal to government to ensure pay parity between public and private sector banks’ management in order to attract high quality and talented professionals.
Source : 17-04-17   Moneycontrol.com   Compiled by www.naukri.com
Australia, New Zealand step up nationalist rhetoric with visa curbs
Australia and New Zealand have tightened visa conditions for skilled migrants in a bid to woo nationalist-leaning voters, echoing the United States' "America First" policy, but critics have decried the move as mostly political posturing. Australian Prime Minister Mr. Malcolm Turnbull abolished a temporary work visa popular with foreigners, replacing it with a new programme. New Zealand also tightened access to skilled work visas, taking a "Kiwis-first approach. “The changes are likely to hurt small businesses and Australian tech start-ups, industry officials said, but both countries will continue to see a surge in foreigners. Recent population growth in Australia has been driven by student visas, which offer a path for people to study, work and eventually become permanent residents. In the six months to December, the country granted 156,453 student visas. This compares with just 12,866 of the so-called 457 skilled work visas approved in the year to September 2016. More than 95,000 foreigners are now employed under the 457 visa, making up a mere 0.8 percent of Australia's labour force. "This is just a change of name, nothing else," said Mr. Shamim Ahmed, a Sydney-based migration agent at AIC Education Services. "They cannot really abolish this visa, because it is demanded by employers." The 457 visa has been axed with immediate effect, and replaced by two new visas with a shorter skills shortage list and a tougher English language requirement, Mr. Turnbull announced.
Source : 20-04-17   Business-standard.com   Compiled by www.naukri.com
Flipkart offers additional ESOPs to make good valuation drop
E-commerce major Flipkart will issue additional shares to eligible employees in efforts to ensure their stake remains at a “steady level” after the latest fund raising round that came at a lower valuation. The Bengaluru-based firm, which competes with the likes of Amazon and Snapdeal, has recently raised USD 1.4 billion at a valuation of USD 11.6 billion. This is lower than the previous funding raised in 2015, when Flipkart was valued at USD 15.2 billion. Employees who are part of ESOP (employee stock option plan) programmes across the Flipkart group, including Myntra and PhonePe, were informed of the move through an email. Flipkart Group CEO Mr. Binny Bansal said the differential grant was being made, so that the total dollar value of options allotted to an employee remain unchanged. This was being done to ensure that the employee’s equity stake in the company stayed at a steady level. “As an organisation, Flipkart takes immense pride in being the employer of choice for thousands of professionals — a vaulted status that only comes with a deep, company-wide sense of transparency and fairness. If Flipkart does well, so should you,” Mr. Bansal said. In recent years, Indian startups have increasingly offered ESOPs as a way to curb attrition and help employees build long-term wealth.
Source : 13-04-17   India.com   Compiled by www.naukri.com
BMW staff begin UK strikes over pension dispute
Workers at three British plants of German car giant BMW began a 24-hour strike over proposed changes to pensions, leading to a halt in production of the iconic Mini. Employees belonging to the Unite union picketed at the plants in Cowley and Swindon, in southern England, and in Hams Hall in the centre of the country, with eight more walkouts promised over the next five weeks. The carmaker said Mini and BMW engine production had stopped for the day as workers protested against the closure of its two final-salary pension schemes for around 5,000 employees in Britain. Going ahead, the value of a worker`s pension would be linked to the pension fund`s performance in the stock market, and not salary. The carmaker announced the plan last year, and aims to make the change on May 31. "It is very much the last resort for a world-class workforce that takes great pride in making the iconic Mini and world-renowned Rolls-Royce motor cars and one which could have been avoided if BMW`s bosses had been willing to negotiate meaningfully," Unite general secretary Mr. Len McCluskey said. The carmaker said it regretted the strikes and hoped for further talks. It has called the current pension plans "increasingly unsustainable and unaffordable for both members and companies".
Source : 19-04-17   Zeenews.com   Compiled by www.naukri.com
LIC to get bankers on board for managing lending operations
Insurance behemoth LIC will soon obtain services of retired bankers to strengthen its lending operations and ensure that non-performing assets (NPAs) are kept at the minimum. LIC has set up a cell for its lending, NPA resolution and one time settlement (OTS), people familiar with the matter said, adding that the company will soon get experts, particularly bankers, to this portfolio. LIC has been into the business of insurance but they don’t have expertise on loan risk assessment and resolution, the people said. A standard operating procedure has also been worked out for repayment through OTS scheme, they added. At the end of March 2016, LIC had a debt portfolio of Rs3.79 trillion, bigger than the loan portfolio of most banks. Its gross non-performing assets stood at 3.76% at the end of March 2016, up from 3.30% in the previous year. Driven by a sudden surge in single premium policy sales and falling interest rates, the total new business premium of LIC rose 25.8% to Rs1.22 trillion in FY 2016-17 from around Rs97,000 crore in the previous year. However, the state-owned insurer witnessed degrowth in terms of policies during the year under review.
Source : 14-04-17   Livemint.com   Compiled by www.naukri.com
7th Pay Commission: Lavasa panel report on HRA, allowances this week
The high-level committee headed by finance secretary Mr. Ashok Lavasa on allowances under the 7th Pay Commission is expected to submit its final report to Finance Minister Mr. Arun Jaitley. The committee had held a conclusive meeting on 6 April. The committee has been tasked to examine the 7th Pay Commission recommendation for abolition of 53 allowances out of a total of 196 and subsuming another 36 into larger existing ones. In its previous meeting on 28 March, the Lavasa committee sought comments from the ministries of railways, defence and posts on treatment of 14 allowances, the report said. Some of these allowances include accidental allowance, outstation detention allowance, trip allowance, and ghat allowance. Earlier, the 7th Pay Commission had recommended fixing the rate of house rent allowance (HRA) at 24%, 16% and 8% of the basic pay for Class X, Y, and Z cities respectively, according to the report. It had also recommended that whenever DA crosses 50%, the rate of HRA be revised to 27%, 18% and 9% respectively. Likewise, it should be revised to 30%, 20% and 10% when DA crosses 100%.
Source : 18-04-17   Livemint.com   Compiled by www.naukri.com

Sunday, 16 April 2017

Best Quotes of the dy

I cannot teach anybody anything.
I can only make them think. 
-- Socrates
It isn't what we don't know that gives us trouble.
It's what we know that ain't so.
 -- Will Rogers

Monday, 10 April 2017

Quotes of the day

"The past is really almost as much a work of the imagination as the future."

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"Every creator painfully experiences the chasm between his inner vision and its ultimate expression."

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Friday, 7 April 2017

HR Headlines : Courtesy Naukri.com

HR HEADLINES

Snapdeal employees worried about jobs, as merger looms with Flipkart
Even as the Japanese investor Softbank of Snapdeal is yet to conclude its potential stake sale to its rival Flipkart, the employees at the Gurgaon-based e-commerce firm continue to be worried. A merger with bigger rival Flipkart is expected to consolidate operations and existing positions could be phased out over time as part of the deal. "Many of our colleagues lost their jobs during the retrenchment exercise. We were given to understand that it was over. However with these reports of sale talks, we aren't sure about the future of our jobs," said one of the employees. It had been earlier reported that Snapdeal has let go off over half of its 4,300 staff strength as it talked about targeting profitability. The consolidation will also impact the top management as both companies will look to merge administrative positions, as in the case of the previous merger with Jabong which saw exits at the top. In order to soothe anxious employees, the founders of the company had conducted multiple townhalls, last month. The deal which is being steered by the investors of the company has also been witnessing boardroom battles. It started off with differences between Softbank and early investors Nexus Venture Partners and Kalaari Capital. Later, it turned out that Softbank had agreed to buy the stakes of the two funds. However, negotiations are still on. For the deal to finally go through, consent of at least two major shareholders of Jasper Infotech, the parent firm of Snapdeal, is required. Citing the shareholder agreements, the report said that three stakeholders out of the four major stakeholders that include Softbank, Kalaari, Nexus and promoters Mr. Kunal Bahl and Mr. Rohit Bansal, need to give consent for the company's merger with Flipkart.
Source : 06-04-17   Moneycontrol.com   Compiled by www.naukri.com
Ola engineering director Mr. Amit Saini joins e-payments platform Razorpay as VP
Razorpay, an online payments platform announced the appointment of Mr. Amit Saini as its new vice-president (engineering) to oversee the growing technology function, as the company looks to scale its footprint in the digital payments space. Mr. Saini was earlier the director of engineering at Ola. With over 15 years of experience in product development, building and leading high performance engineering teams, he specialises in solving several big data use cases and delivering many end-to-end products. His appointment is intended to further the growth and product development of Razorpay’s technology leadership in the industry, the company said. “Technology has been our key differentiator since inception. With Amit joining us, we are instituting executives with vast experience in technology and strengthening our leadership team. He will help us tackle the ever-increasing challenges of a diverse merchant ecosystem in a dynamic financial market like India”, Mr. Harshil Mathur, CEO & co-founder of Razorpay said. Previously, Mr. Saini worked at Ola Cabs, where he led a team of 40 members to build Ola Money. He has also worked as a technologist with Microsoft and IBM, building software products in the areas of e-commerce, web services management, big-data & analytics. He also co-founded, SkillCafe, a start-up that focused on analysing huge data sets in order to provide insightful career growth recommendations to candidates.
Source : 06-04-17   Financialexpress.com   Compiled by www.naukri.com
Nasscom appoints Mr. Raman Roy as Chairman, Mr. Rishad Premji Vice Chairman
IT industry body Nasscom appointed Quatrro CMD Mr. Raman Roy its chairman for 2017-18. It has also named Mr. Rishad Premji, Wipro chief strategy officer and son of technology czar Mr. Azim Premji, as the vice chairman. Mr. Roy, who served as the vice chairman in the previous fiscal, will take on the new role from 6 April. He takes over the mantle from Mr. C P Gurnani, managing director and CEO of Tech Mahindra. “Nasscom is playing a critical role in evangelising the digital opportunity for the sector and I would like to support the industry in facilitating the skilling and reskilling effort of the industry through disruptive models,” Mr. Roy said. He added that building India’s innovation edge is another key priority and the industry body plans to scale up start-ups and centre of excellence initiatives to the next level. The announcement comes at a time when the over $140 billion Indian IT industry faces a number of headwinds like growing protectionism from various countries and business shifts towards digital. Mr. R Chandrashekhar, president of Nasscom, said: “A new-age leader like Rishad, with his vast exposure, will bring fresh ideas to the table, helping the industry tap new domains and opportunities globally.” Mr. Roy, along with Mr. Premji and Mr. Chandrashekhar, will lead Nasscom to carry out its diverse array of priorities. The leadership team will also work towards further strengthening various sector councils and focus on enhanced member outreach and involvement.
Source : 05-04-17   Livemint.com   Compiled by www.naukri.com
Hindustan Unilever is planning to cut 10%-15% of jobs to protect profitability
India’s largest consumer goods company is planning to hand out pink slips in a bid to reduce costs. The Hindustan Unilever (HUL) is mulling over cutting jobs by 10-15% as its Dutch parent wants to reduce costs across markets. However, the exact number will be known by the end of April only. In India, HUL employs around 18,000 people across factories and offices. Unilever said job cuts come after they want to focus on increasing its margin targets. Global CEO Mr. Paul Polman committed to the board his strategy to cut costs sharply to protect profitability as it aims to prove that it can deliver growth following its rejection of a takeover attempt by rival Kraft Heinz for 115 billion pounds in February. "Unilever is conducting a comprehensive review of options available to accelerate delivery of value for the benefit of their shareholders. The results of the review are expected later this month," said an HUL spokesperson. HUL has a five-level management structure, with the CEO at the top. Level four consists of vice presidents, while general managers are at level three. Assistant managers and junior managers or frontline executives make up the remaining two levels. "With GST implementation, there will be reduction in warehouses and supporting infrastructure, resulting in some job losses. But India is still one of the better-performing markets for Unilever and the restructuring will not be as severe as in other markets," Mr. Abneesh Roy, senior vice president at Edelweiss Financial Services said.
Source : 07-04-17   Businessinsider.in   Compiled by www.naukri.com
Amazon India sets up 7 new warehouses, to create 1,200 jobs
-commerce giant Amazon said it has set up seven new warehouses (Fulfilment Centres or FCs) to cater exclusively to its large appliances and furniture category, a move that will create 1,200 new jobs. The company, which has committed an investment of $5 billion in the Indian market, will also set up 33 delivery stations to meet the demand it is witnessing in the said category. Amazon.in has 27 such warehouses across the country. With the addition of the new FCs, Amazon.in will have 34 FCs across 10 states. “We have set up a dedicated infrastructure of nine FCs and 33 exclusive delivery stations that will ensure faster and reliable delivery of large appliances and furniture to more than 150 cities,” Amazon India vice president, India Customer Fulfilment, Mr. Akhil Saxena said. He added that while seven new FCs have been set up for the category, two of its existing centres in Mumbai and Gurgaon will now serve the category exclusively. Mr. Saxena, however, declined to disclose investment details. FCs are warehouses where sellers can stock their inventory. They can save money by replacing their upfront capital expense with low variable cost and pay only for the storage space they use and the orders Amazon fulfils. The new warehouses will enable Amazon India to make fast deliveries as it faces tough competition from online shopping giants like Flipkart and Snapdeal as well as other smaller players.
Source : 05-04-17   Livemint.com   Compiled by www.naukri.com
Airtel sacks its VP for code of conduct violation
Telecom major Bharti Airtel has terminated the services of its Vice-President and Head of Alliances Mr. Pallab Mitra for alleged violation of code of conduct. “All employees are hereby advised that the company has terminated the services of Mr. Pallab Mitra, Vice-President and Head-Alliance, with immediate effect for violation of the company’s code of conduct,” Airtel Chief Human Resource Officer Mr. B Srikanth said in a communication to employees. Mr. Mitra could not be reached for his comments. Airtel spokesperson said: “The Company’s code of conduct is of paramount importance and it follows a policy of zero tolerance in the event of any violation of the same.” Mr. Mitra has worked with Airtel for about 12 years with a gap of around five and half years in between. He started working with Airtel in 2001 as head of commerce for about 4 years. Mr. Mitra left the company in February 2010 to join Tata Teleservices. His second innings at Airtel started from September 2015 onwards after his one-and-half year stint with wi-fi firm Ozone Networks. Airtel learnt about the purported code of conduct violation by Mr. Mitra from a whistleblower after which it conducted a probe into the matter, the communication said.
Source : 06-04-17   Thehindu.com   Compiled by www.naukri.com
Healthcare firm Practo lays off 150 employees, says they left as part of appraisal process
Healthcare startup Practo has laid off 150 employees after its annual appraisal process. A statement by the company said the development was part of the annual performance cycle during which some of their staffers inevitably leave. The employees will be given two months’ salary along with the choice to stay on the firm’s rolls during the period or an outstation placement, the English daily reported. “150 of our colleagues are leaving us. This is a combination of performance and natural redundancies that emerge as we evolve our businesses and integrate our five acquisitions. We continue to rapidly grow our consumer and enterprise businesses and will continue to hire talent across the board,” a company spokesperson said. The startup had around 2,000 employees and had secured funding of Rs 375 crore in funding led by Chinese internet company Tencent in January. Officials said that the company may be revamping its business model. “There are 153 million internet users in India, but the number of searches for doctors and hospitals in the top 50 cities in India in 2016 is estimated at 6 million, or about 4% of total internet users. People choose doctors based on references and moving them to online searches is tough,” the report said. In addition to providing online data on doctors, the firm also provides software to medical institutions including clinics, diagnostic centres and hospitals, which accounts for a significant portion of its revenues. Its major hospital clients include Manipal Hospitals, Max Healthcare, Narayana Hrudayalaya and Sparsh.
Source : 07-04-17   Scroll.in   Compiled by www.naukri.com
UK visa restrictions will hit 30,000 Indian techies
After losing their prospects of working in the US, Indian software professionals — at least 30,000 of them — will be impacted by the UK government’s move to impose restrictions on work visas, including discontinuing the short-term visa category. The short-term visa was primarily being used by Indian IT services companies to send young engineers to work on projects in the UK. These work visas, termed as Tier 2 under the sub-category of short-term staff, will not be issued. According to Nasscom, there are about 30,000 Indians working in the UK under the Tier 2 short-term visa category. Once the existing visa expires, it will not get renewed. While other work visas will continue to be available for application, the minimum wage requirement has been increased by 69 per cent to £41,500. This will impact younger engineers as companies won’t be able to hand out such huge hikes, especially at a time when margins are shrinking for most IT services firms. “High-skilled worker mobility should be de-linked from immigration because it is different from unskilled labour. We at Nasscom voiced concerns to the British government as well as the Indian government, but the UK decided to go ahead with its plans,” Mr. Shivendra Singh, Vice-President and Head, Global Trade Development at Nasscom said . “Our companies are investing billions of pounds to skill locals and have been extensively hiring there as well,” he added. IT companies had been anticipating the move as it was initially brought into the House of Commons last November as part of proposed changes in immigration rules. UK Prime Minister Ms. Theresa May might visited India a week later but the two countries were unable to reach a consensus on the issue. The move will have a significant impact on the prospects of junior employees with up to seven years’ experience getting a transfer to the UK as the salary threshold has been increased to £41,500.
Source : 05-04-17   Thehindubusinessline.com   Compiled by www.naukri.com
Staff crunch: Air India ropes in 247 retired employees as consultants
Air India has engaged 247 retired employees as consultants since there has been no induction of “non-operating manpower” for more than 15 years at the national carrier, the government said. Minister of State for Civil Aviation Mr. Jayant Sinha said these consultants have been engaged for 1-2 years in order to meet the immediate requirement of trained or experienced manpower in respective departments to ensure smooth functions. “At present, 247 superannuated employees of Air India have been engaged as consultants as there has been no induction of non-operating manpower in Air India for more than last 15 years,” Mr. Sinha said in a written reply to the Lok Sabha. Furthermore, the minister said there is acute shortage of manpower at Air India Engineering Services Ltd (AIESL). To address manpower shortage, AIESL is re-appointing retired personnel and also doing fresh recruitment. Mr. Sinha said that till date, AIESL has appointed 209 retired staffers. “The gestation period for fresh recruits is 3-4 years to become full-fledged aircraft maintenance engineer under DGCA CAR 145. Hence, it has been decided to take the retired personnel who are already licensed by DGCA to mitigate the immediate shortage,” he noted.
Source : 06-04-17   Indianexpress.com   Compiled by www.naukri.com
Lack of skilled workers to increase demand for ‘open’ talent: HR experts
The term open talent includes different forms of part-time employment including workers hired as retainers, a fixed-term contract or a project-based contract, or those who are paid by the hour. As the nature of work and workforce is changing, workplaces too are experimenting with hiring options, an expert said. “As availability of skilled talent gets increasingly difficult, organizations will have to accept the open talent network, especially for high-skilled jobs, said Mr. S.V. Nathan, chief talent officer at Deloitte in India. “Millennials are looking beyond permanent jobs. They are looking at interesting work, perhaps working part-time in multiple places in different work environments, in different roles. ”According to HR outsourcing and technology firm PeopleStrong, 18-20% of the corporate workforce would work on project-based jobs in the next 12-18 months. In the new world of work, the colour of collars—white or blue—would cease to exist. The jobs need not be differentiated based on the time period or schedule of work, said Mr. Pankaj Bansal, co-founder and chief executive of PeopleStrong. “Rather, they would be identified based on the work content. We will have lot of content experts, digital marketing experts, coders or Artificial Intelligence (AI) experts, who would have the capability to work across sectors,” he added
Source : 04-04-17   Livemint.com   Compiled by www.naukri.com
Government may hike salary threshold to Rs 21, 000 for mandatory PF coverage
The Union government is likely to walk a middle path and increase the wage threshold from Rs15,000 to Rs21,000 for mandatory provident fund coverage instead of the Rs25,000 proposed by the Employees’ Provident Fund Organization (EPFO), said at least two government officials. The Rs 21, 000 cap will help bring in over six million more employees under the social security net without putting a strain on the government exchequer. While EPFO plans to increase the wage threshold to Rs25, 000, considering the financial implications for the Central government, the labour ministry is almost ready to moderate the hike in the wage threshold to Rs21, 000, said the two government officials. Once it’s formally passed by the central board of the EPFO, organized sector employees drawing a monthly salary up to Rs21, 000 will come under the mandatory coverage of the EPFO which provides PF, pension and insurance to its subscribers. Right now, all workers drawing a monthly salary up to Rs15, 000 are covered mandatorily under EPF and the Employees’ Pension Scheme (EPS) social security benefits. Employees earning above this threshold join EPFO voluntarily. Every month, salaried workers contribute 12% of their salary to EPF and the employer matches the sum. From what the employer contributes, 8.33% goes into EPS, which offers pension for life post retirement. The government contributes 1.16% to the pension kitty of every PF member whose salary is under the wage threshold. When the initial plan to hike the EPF wage ceiling was mooted last year, post the implementation of the 7th Pay Commission, the Central government “sought clarifications” on how much will the increase in wage ceiling impact the government exchequer and whether this will “entail additional contribution” by employers as they pay 3.67% of the basic wage for EPS, as per labour ministry documents.
Source : 06-04-17   Livemint.com   Compiled by www.naukri.com
IT firms get set to pamper moms-to-be
Leading IT services companies and BPOs have initiated steps to implement policies compliant with the Maternity Benefit (Amendment) Bill. This follows the President giving his nod for the legislation which provides 26 weeks of paid maternity leave for women employees. India’s fifth-largest IT exporter Tech Mahindra said it would revise its existing policy on maternity leave. “Yes, we will be implementing this policy,” said Ms. Sucharita Palepu, Global Head — People Practices, Tech Mahindra. “We already had an extended maternity policy where women could opt for longer leave up to one year. Hence, we don’t see the need for any specific planning, since several of our associates opted for it earlier,” she said. Many IT companies had already been providing maternity leave of 9 months which typically comprised 3 months’ paid leave and 6 months’ extended leave without pay. However, with the new bill becoming a law, most players have revised their maternity leave policy with 26 weeks’ paid leave and 3 months’ leave without pay. India’s third-largest IT exporter Wipro has revised its leave policy with effect from March 28. Women employees are now eligible for 26 weeks of maternity leave. It also extended the benefit to employees who had been on maternity leave till March 28. Apart from providing paid leave for young mothers and mothers-to-be, IT companies are also reaching out to women employees to keep them engaged with the company. Mindtree, which introduced 6 months’ paid maternity leave in September, unveiled ‘Mi Lady,’an application to engage with women who are on maternity leave. Through the app, employees on maternity leave can upgrade their skills before they re-join. “We believe that providing long maternity leave itself was not enough for any working woman,” said Mr. Chitra Byregowda – Head of Diversity and Sustainability at Mindtree. “Our aim is to support her before delivery, post-delivery and then, also at the time of returning to work. Through the app, our employee can access e-learning modules to upgrade her skillsets.”
Source : 03-04-17   Thehindu.com   Compiled by www.naukri.com
Ms. Madhabi Puri Buch takes charge as SEBI whole time member
Ms. Madhabi Puri Buch took charge as whole time member at the Securities and Exchange Board of India (SEBI) in Mumbai for a tenure of three years or until further orders, whichever is earlier. Ms. Buch will handle market regulation department, market intermediaries’ regulation and supervision department, integrated surveillance department, department of economic and policy analysis, office of investor assistance and education, National Institute of Securities Markets and information technology department. Prior to joining SEBI, she served as consultant to the New Development Bank in Shanghai, China. She also served as the Head of the Singapore office of the private equity firm, Greater Pacific Capital. She was also the Managing Director and Chief Executive Officer at ICICI Securities Limited and as Executive Director, on the Board of ICICI Bank. Ms. Buch also served as a non-executive director on the Boards of various companies.
Source : 06-04-17   Moneycontrol.com   Compiled by www.naukri.com
Infosys deflects Mr. N.R Narayana Murthy's criticism, says Mr. Pravin Rao's hike must to retain talent
Infosys has defended the pay hike extended to its Chief Operating Officer Mr. Pravin Rao, saying the stock-linked compensation to its senior management, including Mr. Rao, was needed to retain talent as the company underwent a transformation. His compensation revision reflects the philosophy of aligning the interests of our leadership team to long-term shareholder interests, Infosys said in a statement, as it deflected criticism by its founder Mr. N R Narayana Murthy over the pay hike. Mr. Murthy, who as part of the promoter group shareholders abstained from voting in a resolution to increase the pay to Mr. Rao, had criticised the board of poor governance, and also questioned the conscience of the three-decade veteran at Infosys in accepting the hike. "Pravin's commitment and contribution to the company has been immense, and his partnership over the past three years has been critical to the successes and growth of our company," said Mr. Vishal Sikka, chief executive officer at Infosys. "It is essential for us to see that this revision in his compensation, as with several of our senior leadership team, is focused on making Infosys more competitive, is benchmarked against peers, is critical for us to retain key talent and aligns the long-term interests of our leadership team with that of our shareholders." The defence by Infosys after two-thirds of its shareholders supported the pay hike to Mr. Rao, also indicates that the company would take Mr. Murthy head on than dilute its stand.
Source : 04-04-17   Business-standard.com   Compiled by www.naukri.com
Wydr hires phone Warrior Inc.'s former tech CEO as VP, Engineering
E-commerce major Wydr announced hiring of Phone Warrior Inc’s Former Tech CEO Mr. Chandan Gupta as VP, Engineering, as the company is all set to further enrich its tech wing. Mr. Chandan will be working at Wydr’s Gurugram corporate office. Earlier this week, Wydr had also confirmed the news of hiring Pepperfry’s Mr. Alok Varman as Vice President, Operations. Now that they have hired Mr. Gupta, it is evident that they are adding dimensions to Wydr Wholesale App’s business and technical strengths. Mr. Gupta bootstrapped Phone Warrior Inc., a social mobile app company, from ground zero to 6.5 million app installs globally, as the tech CEO. Phone Warrior had raised seed from Lightspeed Venture partners in Dec 2013 and was acquired by Snapdeal in Oct 2015. After the acquisition Mr. Chandan Gupta was working as Senior Director of Technology with Snapdeal for around one and a half years before joining Wydr. His e-commerce expertise and experience at Phone Warrior and Snapdeal will help us accelerate our tech goals. We look forward to his contribution in our journey of continuous innovation, said CEO Wydr, Mr. Devesh Rai. His leadership quality and innovative mindset will be extremely valuable for Wydr as we take shape as India’s most prominent B2B wholesale e-commerce, added Mr. Rai.
Source : 06-04-17   Dnaindia.com   Compiled by www.naukri.com

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