Job generation in the eight metros slowed significantly, but four cities of Uttar Pradesh recorded an astronomical gain of 68 percent last fiscal. A survey by the Associated Chambers of Commerce and Industry (ASSOCHAM) found that Ahmedabad, Bangalore, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai and Pune saw a 14 percent to 33 percent decline in job creation. In Uttar Pradesh, Lucknow alone created almost 1,700 jobs in April-June, 54 percent more than in January-March. In Meerut, registered jobs grew more than 133 percent quarter-on-quarter and in Allahabad more than 127 percent. In Kanpur, job growth topped 24 percent. ASSOCHAM analysed daily postings related to job vacancies posted by some 3,500 companies through job portals and advertisements in 56 cities and 32 sectors. Most jobs were in education, banking, insurance, event management, real estate, IT/ITeS, HR, hospitality and personal care goods.
Fat pay packets, fast growth and a sense of ownership are driving talent from top IT, retail and telecom firms to e-commerce sector. The sector is attracting executives from IT, which has been forced to pare hikes because of the slowdown. E-commerce companies offer crazy money, says Amitabh Das, CEO of recruitment firm Vati Consulting. Some even offer to double the existing pay. Kelly Services India has placed eight people in the last month alone, says Managing Director Kamal Karanth. The executives were drawing Rs 15 lakh to Rs 24 lakh in salaries and were offered packages ranging from Rs 28 lakh to Rs 40 lakh by e-commerce companies. The trend has been attributed to the shortage of talent in the e-commerce space. Online fashion store Myntra.com has hired 60 engineers, most of them IIT graduates who have worked with Google, Yahoo and Amazon.
Talent is a critical resource that organisations must manage well for achieving the best possible results. Mr. Sanjay Dawar is managing director, consulting, Accenture India, and Mr. Jayesh Pandey managing director, talent and organisation practice explains how. The hallmark of Accenture’s talent strategy is “different strokes for different talent segments”. This implies first segmenting talent, and then applying different strokes or levers to each of these talent segments. Segmenting involves identifying, sourcing, developing, retaining and harvesting the full potential of each employee, even those who today are overlooked in the larger scheme of an organisation’s working. Talent can be differentiated on the basis of the value added to the company, for instance, high-potential talent such as senior leadership, demographic cuts or generation and life stage etc., and work roles, that is, knowledge workers and specialists versus generalists.
Citibank has launched a host of initiatives catering exclusively to its women employees. Recruitment of women graduates from premium management institutes has increased from 30 percent in 2009 to 46 percent in 2012. A programme called “Women Leading Citi” targets senior female executives. It is designed to advance the organisations highest performing women. Citi has evolved another programme for emerging female talent. The “Coaching for success, leadership training for emerging female talent” programme is delivered through a series of workshops. Senior managers have been engaged as coaches. The bank’s efforts towards gender diversity have been able to create a sense of deeper involvement and engagement. Opportunities to develop and innovate are thus widely available to all, said Anuranjita Kumar, country human resources officer, Citi India. As a result, retention rates have gone up.
Anubha Shrivastava, the managing director responsible for Asia investments at the UK government’s development finance institution CDC Group Plc, has quit.CDC is one of the largest investors in India-focused private equity (PE) funds. Ms Shrivastava has quit to pursue other opportunities, the firm said in a statement.
More and more private employers are embracing the New Pension Scheme (NPS. More than 200 private companies are now offering this defined contribution-based retirement scheme to their employees. Since December, 230 to 240 private companies have enrolled for the scheme. About 30 companies under the Reliance Group have chosen NPS. Wipro, Cognizant, Pantaloon, ICICI Bank, Axis Bank and Kotak Mahindra Bank have also adopted the NPS route. The scheme offers a range of investment options with equity exposure of up to 50 percent. During 2011-12, the returns it offered topped 9 percent, compared to 8.25 percent earned by EPF subscribers. The scheme was initially launched for new recruits of the Central Government in 2004, and later extended to state governments and public sector enterprises. The scheme is overseen by the Pension Fund Regulatory and Development Authority.
Top software companies hired considerably fewer people in the June quarter because of the global slowdown. Net employee addition at the two largest firms, Tata Consultancy Services (TCS) and Infosys, was the lowest in four quarters. TCS added a net 4,962 employees and Infosys increased its headcount by 1,157. Despite the drop, both companies were upbeat about hiring more this year. Infosys CEO SD Shibulal said about 23,000 offer letters had been issued last year with joining dates starting July. Recruitment has been spaced out to suit the company’s requirements. Normally, there is a drop in the numbers of gross addition and net addition of employees in the June quarter. E Balaji, CEO, Randstad India, said this was not the hiring season for major IT firms. Attrition also increases during this period.
The curbs imposed on executive remuneration related to employee stock option plans (ESOPs) have been removed. An employee holding shares of up to 0.5 percent of stake in the company will not be considered as having any interest in the capital of the company. This includes shares allotted under any scheme, including ESOPs. Accordingly, the remuneration to such employees would not require approval by the Central Government, the Ministry of Corporate Affairs said in a circular. The Companies Act stipulates that firms which are running in loss or which have insufficient profit cannot pay their employees remuneration exceeding Rs 4 lakh per month without the Centre’s approval if such executives hold any shares of the company. The rule also applies to employees who are related to directors or promoters of the company.
The science of diversity and inclusion is still young in India, Saundarya Rajesh ,founder-president of FLEXI Careers India says. In a national study spearheaded by FLEXI Careers, women listed mentoring, flexible working and skill-building initiatives as the three enablers that help them stay in their job. Women seek mentors who will invest in them. These could be senior leaders genuinely interested in their progress and ready to stand up for them when required. Flexible working is becoming the most important vehicle of female employee engagement. No longer restricted to women, a number of fathers speak about its importance in creating sustainable careers. This option assures employers of a highly motivated workforce. When at the career-home crossroads, women who have built skills such as gender intelligence, situational leadership and networking are better equipped to cope.
New research said working mothers enjoy better mental and physical health than those who stay at home. The study was done by Adrianne Frech, assistant sociology professor at the University of Akron, and co-author Sarah Damaske of Pennsylvania State University. They studied data from 2,540 women who became mothers between 1978 and 1995. Women who returned to full-time work shortly after having kids reported greater mental and physical health by age 40. They also have greater mobility, more energy and less depression.
Internet security solutions firm McAfee has appointed Anand Prahlad, currently Vice-President of Engineering for Endpoint Security, as the Managing Director of Operations of its Indian arm. This will come into effect from October 1. “He will evolve the organisation’s approach to product operations on a global level,” McAfee has said in a statement here. He will continue his role as a Vice-President in the Endpoint Security group. Sridhar Jayanthi, who led McAfee India for the past 10 years, will take a six-month leave.
Volkswagen has appointed Arvind Saxena as the Managing Director of Volkswagen Passenger Cars in India.He will be responsible for sales, after sales and marketing of the Volkswagen brand. He will be based out of Mumbai.Prior to Volkswagen, Mr. Saxena was the head of sales and marketing operations at Hyundai Motor India Ltd.
Today the average office-goer is increasingly concerned about having his daily quota of relaxation and “me-time”. After long, overstretched hours at work, executives need some down time to unwind. However, the way they are chilling out has drastically changed. Most people lack the energy to groove to adrenalin-pumping beats in a discotheque, says Radha Sandhu, a Gurgaon-based psychological counsellor and wellness therapist. People are therefore taking recourse to quieter pastimes to unwind after work hours. Vikram Kalia, general manager products, Intex Technologies, says he focuses on doing simple things such as listening to music while in the car and meditating daily for half an hour. After-work pastimes of men and women are seemingly gender-neutral. Some men de-stress by cooking and doing up their homes while women exercise or indulge in a sport.
The Associated Chambers of Commerce and Industry said Delhi and the National Capital Region (NCR) accounted for the largest number of jobs across sectors during the last two quarters. During the quarters ended March and June, 2.7 lakh jobs were created in the country. The NCR region alone accounted for 64,500 of these jobs. Mumbai, Bangalore, Pune and Chennai followed next. Lucknow topped among tier II cities, generating 1,698 jobs. It was followed by Chandigarh, Vadodara, Jaipur and Surat. In the tier III category, Dehradun led with more than 650 new jobs. It was followed by Gwalior, Ludhiana, Bhubaneswar and Raipur. IT and ITeS generated the maximum employment, creating 11,000 jobs in the Delhi-NCR area. Education, automobiles and engineering came next. However, overall job generation fell 20 percent between the March and June quarters.
A study by Hay Group has concluded that the “brain drain” phenomenon will reverse as migrants return to their home countries and contribute to local development. Apart from what it termed the “brain cycle”, talent will continue to be in demand and retaining employees with key skills will be a challenge, even until 2030, the report said. Organisations will have to strive for attracting, integrating and developing global workers, women, people with experience as well as those saddled with “caring” duties. Employment models will need to be family-friendly and tweaked appropriately for different age groups. Hay Group has also introduced a productivity model which lists nine factors that help engage with and enable employees. As per its findings, 15 percent of the employees are engaged but their organisations fail on the enablement front, leading to dissatisfaction.
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