The fourth quarter of 2011-12 recorded a moderate decline in employment in five of the eight sectors surveyed. The quarterly survey by the Labour Bureau showed that leather, metals, automobiles, gems and jewellery and the handloom/powerloom sectors gave employment to less numbers in January-March compared to the October-December period of 2011. In the leather sector, employment slipped during the latest three quarters after increasingly marginally by 1,000 jobs in the quarter ended June 2011. However, the decline was moderate, from just 1,000 jobs less in automobiles to 16,000 in handloom/powerloom. It was compensated by the IT/BPO sector, which generated 104,000 additional jobs and the transport sector, which added 16,000 more people. However, the job increase in IT/BPO was the lowest in any quarter of 2011-12, indicating worsening demand from abroad. The quarterly surveys are being conducted since October-December 2008.
The Indian Institutes of Management (IIMs) saw higher numbers of women applicants from non-engineering backgrounds. At IIM Bangalore, a quarter of the 2012-14 PGP batch consists of women, and 15 percent of them are non-engineers. IIM Lucknow said the key focus this year was to ensure gender diversity without compromising on merit. The institute has admitted a record 167 girl students in its PGP and PGP-agri-business management batch. About 20 percent of these are non-engineers. At IIM Ahmedabad, 16.8 percent of the batch consists of women and 364 of the total 381 are non-engineers. These numbers indicate the efforts made by business schools to rebalance the gender and profile scales. So far, engineers had monopolized admission into the institutes. Of the 226 students at Delhi’s Faculty of Management Studies, 41 are girls and 32 come from backgrounds other than engineering.
A survey by Regus International has found that Indian employees prefer family and fitness over long hours of commuting. A large number of employees in India are spending the time saved with partners, family members or exercising. Around 85 percent wanted to spend time with their partner and family, followed by 83 percent wanting to devote time to exercise. Charitable or voluntary work was also high on the list, with 70 percent of those polled wanting to get involved in charitable work, extending their educational qualification (65 percent), reaching out to more friends (61 percent) and spending more time sleeping (41 percent). According to the survey, a little over half of Indian employees (51 percent) were free to work from locations other than their company’s main offices. The survey covered more than 16,000 professionals in more than 80 countries.
Mr Nitin Rakesh, Managing Director and Chief Executive Officer of Motilal Oswal Asset Management Company, has put in his papers. Mr. Rakesh said that he was moving on for better prospects. However, his exit will not be effective immediately. Mr Rakesh joined Motilal Oswal AMC in September 2008. He has also worked with TCG Investments and Unit Trust of India (UTI Mutual Fund). This is the fifth exit by the CEO of a mutual fund house in the last four months. Mr Navin Suri resigned as CEO of ING Investments India last month. Mr Piyush Surana of Daiwa Asset Management, Mr Rajan Krishnan of Baroda Pioneer Asset Management and Mr Arindam Ghosh of Mirae Asset put in their papers in April this year.
A survey by PricewaterhouseCoopers (PwC) Saratoga concluded that 35 percent of the workforce in India quit their organisation in less than two years. The ratio compares with 30 percent for the Asia Pacific region and 15 percent for the West. Voluntary employee turnover was the highest in the banking and ITeS sectors. The resignation rate in banks was 2.9 times more than that for engineering and manufacturing. The survey also noted that organisations had increased their learning and development initiatives. Companies invested 17 man-hours per person on learning initiatives, an increase from 13.5 man-hours last year. Sankar Ramamurthy, executive director and head, people and change practice, PwC India said organisations which were better able to manage talent turnover gained more from investments in employee development. Companies maximising their human capital contribution will gain exponentially.
Citrix India is planning to recruit 200 people for its new facility in Bangalore. The company is a provider of cloud and collaboration solutions and currently employs 1,000. Citrix is optimistic about India and expects to grow faster than other regions, according to David Henshall, executive vice president of operations, CFO and treasurer of Citrix. The Bangalore R&D centre is the largest outside the U.S. All major product work of Citrix is handled out of its Indian R&D centres in Bangalore and Hyderabad.U.S.-based Oracle solutions firm Keste is also expanding its development centre in Hyderabad. The centre has 75 employees and will double the number to 150 in the next 15 months. Howard Moore, president and CEO, said Keste will increase its focus on South Asian and the Gulf markets from the development centre.
A number of multinationals are reaching out to candidates through virtual games. India has close to 10 million Facebook users, making it a goldmine for recruiters looking for “gamification”, or hiring by using virtual games. Marriott’s Facebook game, My Marriott Hotel, allows aspirants to try their hand at running the hotel’s kitchen operations virtually. They earn or lose points depending on customer satisfaction. L’Oreal recruits close to 30 percent of its managerial cadre through gaming channels. In its virtual game L’Oreal Reveal, business management aspirants get to work on projects and solve business tasks across finance, sales, marketing, operations and research and innovation. Another game, Brandstorm, targets candidates for marketing roles. Successful players get an opportunity to be interviewed by the company. Mohit James, director HR, L’Oreal, says gaming allows candidates to fast-track the recruitment process.
Software services major Infosys said it will stick to its target of hiring 35,000 people this fiscal but is not looking at wage hikes for now. The hiring plan, which includes 13,000 jobs for its BPO operations, will be adhered to despite an uncertain global economic growth environment and the wage-hike freeze.”We are going to add 35,000 more people this year, the same number as we guided last quarter for the full year,” Infosys Chief Financial Officer V Balakrishnan said here, after the first quarter results announcement.The number includes 13,000 people for the BPO operations, he added.
Some 300 U.S. technology firms have called for removal of per-country quota in the allotment of green cards to Indian IT professionals. The cap is stifling innovation and putting ideas on hold, say companies which include AMD, Cisco Systems, Oracle, Symantec and Microsoft say. They have written to the U.S. Senate Subcommittee on Immigration, Refugees and Border Security, asking it to support a piece of legislation that seeks to remove the per-country limit. “Under the current law, 1.40 lakh green cards are awarded annually to immigrants. But the cap for any one country is fixed at seven per cent,” the letter said. The cap does not distinguish countries based on their merit and numbers. The same number of green cards is being given to people from India and China, as to Greenland.
With the country’s telecom sector in the doldrums, Huawei India has shifted more than 300 employees to manage global operations from its India centre. Existing employees are being redeployed to its Global Service Resource Center (GSRC) and Global Competence Center (GCC). The move will help curb attrition rate in the company and keep employees engaged, Huawei said. It employs 6,000 people in India. Many of these employees in the GSRC and GCC platforms are already involved in supporting Huawei’s international telecom clients in Asia Pacific, Europe, Africa and Middle East, said A Sethuraman, Huawei India executive director. The Supreme Court’s cancellation of 122 telecom licences has affected telecom equipment makers.
Om Pizza, a portfolio company of TVS Capital Funds Limited, announced the appointment of two key veterans in leadership positions to lead Om Pizza, the master franchisee for Papa Johns Pizza in India as well as Chillis, the popular Tex-Mex restaurants in South and West India. The appointment follows fresh investments made by TVS Shriram Growth Fund 1A in Om Pizza.. Tejpavansingh Gandhok, who was the co-founder and CEO of Litebite Foods, will provide strategic leadership to Om Pizza. Apart from Mr. Gandhok, V Kannan joined the team as general manager, Commercial and Operations.
Consumer confidence fell across major emerging economies — China, India and Brazil — in the second quarter, according to a survey by global information company Nielsen.A worsening euro zone crisis, sluggish US jobs growth and slowing growth in China and India combined to dent consumer confidence globally in the second quarter with concern over the economic outlook and job security the biggest concerns.It also showed that Indonesians have overtaken Indians as the most upbeat consumers. Global consumer confidence dipped in the second quarter from the previous three months, the survey said.According to Nielsen, 53 per cent of global respondents were optimistic about their personal finances, but that was down 2 percentage points from the first quarter.Asia-Pacific respondents reported the biggest decline in favourable financial perceptions, declining four points to 59 per cent.
Global medical technologies major GE Healthcare will increase its workforce by about 10 per cent in India to 4,400 people by the end of this year as it look to strengthen research work in the country. “We will be adding 10 percent more to our present strength of 4,000 employees in India by the end of this year,” GE Healthcare South Asia president and CEO Terri Bresenham said.This will take the company’s manpower strength to 4,400 in the country, she added. Ms. Bresenham said the company has plans to enhance its research and development team of 1,200 people in India.“Out of these 400, between 150 to 200 people will be in research and development (R&D),” she added.GE Healthcare is a $17 billion unit of General Electric Company. Worldwide, GE Healthcare employs more than 46,000 people.
U.S. President Barack Obama voiced concern over the deteriorating investment climate in India and called for another “wave” of economic reforms. He was, however, positive about the Indian economy “which continues to grow at an impressive rate”. To a large extent, the slowdown could be attributed to the slowdown in the global economy. Citing some concerns of the U.S. business community, he said investors thought India was too hard to invest in. The country limits or prohibits foreign investment necessary for job creation in both the U.S. and India. One of the most effective ways for creating jobs by continuing to expand trade and investment, Obama said. The time may be right for another wave of economic reforms. Meanwhile, the adverse effects of tough U.S. visa rules have begun to tell on the Indian IT industry, with first quarter operating margins showing a contraction.
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