HR Headlines – Courtesy – Newsletter

India Inc. continues to grow and witness 18% hike in hiring activity in Sept 2015, says Naukri Jobspeak
The Naukri Job Speak Index for the month of September 2015 was at 1796, witnessing an upward movement of 18% as compared with September 2014. During the same period, Delhi-NCR has recorded the maximum growth of 29% among the metros. Hyderabad, Kolkata and Mumbai have also witnessed growth of 25%, 22% and 19% respectively, followed by Chennai at 18%, Pune at 14% and Bangalore at 13% in the September 2015 index. The rising trend has been seen in the industries such as Accounting and Healthcare with a 70% and 33% progress respectively year on year. However sectors like Oil & Gas and Construction have registered a sharp decline of 18% and 9% respectively in Sept 2015 when compared to Sept 2014. Amongst the rising professions, Marketing/Advertising/PR and Software have recorded maximum growth of 27% each in the September 2015 index.
Source : 13-10-15   Compiled by
Good news for Adobe India employees! The company extends maternity and paternity leaves
There is some good news for those who will soon become mothers and fathers and working for Adobe India. The company has announced improvements to its family time-off benefits for its employees in the country, to provide better support during the birth or adoption of a child. The new leave programme, which comes into immediate effect, includes 26 weeks of paid maternity leave for the birth or adoption of a child, including time for recovery and bonding (previously 12 weeks), and two weeks of paid paternity leave for fathers to bond after the birth of adoption of a child (previously one week).”At Adobe, we often say that our most important assets leave the building at the end of the day,” said Ms. Donna Morris, senior vice president, people and places, Adobe that began its operations in India in 1997. By providing Adobe India employees with more time to spend with their babies, the company wants to make it easier for them to balance their home commitments with work. “We especially hope this move will make it easier for our female employees to stay in the workforce after they have children, and we hope other employers will make similar investments in their employees. There are so many opportunities for talented employees here in India, and diversity in our workforce is a critical priority for our continued growth,” Ms. Morris said. Adobe has about 4,000 employees based in the country. The company recently opened new facilities in both Bengaluru and Noida.
Source : 14-10-15   Compiled by
New-age firms disrupting hiring processes as well
As new-age firms dole-out fatter salaries to attract the most skilled employees, companies need to strengthen their work environment, increase their staff engagement and reward policies, to hold on to talent. A war of talent is raging between the new age companies and established organisations. These startups are not only changing the placements scenario in top B-schools, they are also hiring from leading banks and consulting firms by offering fatter pay checks. “Well funded organisations are offering better salaries and also getting good talent. This is happening in all the new age industries including e-commerce,” mobile commerce firm Paytm VP – Business Planning and People Mr. Amit Sinha said. “The toughest challenge facing most new technology companies these days isn’t getting funded, it’s hiring the best, most skilled employees,” mobile app platform Kryptos Mobile Founder Ms. Anjli Jain said and added that aggressive venture capital funded IT/ITES startups like Ola and Flipkart are offering fatter salaries, stock options and unique perks to lure and retain the best talent in India. This trend which is happening in the e-commerce and tech startup sector is not limited to this space only and had also happened in aviation, telecom, insurance, retail and social sector as well a few years ago. “There is definitely an increase in the average salary offered to the employees. As per my understanding, there has been around 30-40 per cent increase in average salary. And the biggest reason for this is the aggressive goals of the funded startups combined with the availability of funds,” Aristotle Consultancy Co-Founder Mr. Deepak Dhamija said.
Source : 11-10-15   Compiled by
Twitter cuts 8% of its workforce
Twitter said it is cutting 336 staff members, mostly from the product and engineering teams, in order to focus on the company’s top product priorities and become more efficient. In an email to employees with the subject line “a more focused Twitter,” Mr. Dorsey said the layoffs will be difficult, but they will “put our company on a stronger path to grow.” “This isn’t easy. But it is right,” Mr. Dorsey said. “The world needs a strong Twitter, and this is another step to get there.” Though Twitter’s engineering group will receive the brunt of the cuts, Mr. Dorsey argued that cutting positions will make the team “nimbler” — while still remaining Twitter’s largest group of employees. Mr. Dorsey did not say exactly what the leaner company’s new priorities will be, but he mentioned that the firm’s executive team is working on a “streamlined roadmap” for Twitter, Vine and Periscope that will focus on “the experiences which will have the greatest impact.” As an example of those high-impact experiences, Mr. Dorsey pointed to Twitter’s new newsfeed-like “Moments” feature. He called Moments “a great beginning, and a bold peek into the future of how people will see what’s going on in the world.” Mr. Dorsey, who was named CEO a week ago, acknowledged that the cuts would hurt morale and will be difficult to swallow. But he said the outgoing employees will be compensated well. “We are doing this with the utmost respect for each and every person,” the new CEO wrote. “Twitter will go to great lengths to take care of each individual by providing generous exit packages and help finding a new job.”
Source : 13-10-15   Compiled by
Top performing employees at Infosys having a gala time
It seems Infosys believes in sharing profits with its employees also as it promoted over 2,000 top-performing employees and gave out 100% variable pay-outs. India’s second-largest software exporter exceeded its expectations and posted forecast-beating second-quarter numbers. Meanwhile, the IT firm also raised variable pay-outs for the July-September quarter from 80% to 100%.”Infosys has so far given 4,711 promotions since the current financial year started in April, including more than 2,600 during the quarter ended in June,” a company spokeswoman said. The annual standalone attrition stood at 14.1% for the quarter, consolidated attrition was 19.9%. Outgoing Chief Financial Officer Mr. Rajiv Bansal said, “Margins in the quarter were held by the rupee depreciating against the US dollar by 2.7%, which gave us a benefit of about 70 basis points, which was offset by an increase in variable pay for employees from 80% to 100% this quarter. “Infosys also plans to increase its headcount.
Source : 14-10-15   Compiled by
Barclays set to name former JPMorgan banker Staley as new CEO
British bank Barclays PLC is close to naming former JPMorgan Chase banker Mr. Jes Staley as chief executive, signalling a renewed focus on an investment banking division that has been pared back over the past three years. Barclays offered the position to Mr. Staley, currently managing partner of U.S. hedge fund firm BlueMountain Capital Management, and he accepted the offer, a person with knowledge of the situation said. Boston-born Mr. James ‘Jes’ Staley, 58, ran JPMorgan’s investment bank and asset management business and had been at the bank for 34 years before leaving in early 2013 to join BlueMountain. He made the shortlist when Barclays last looked for a CEO three years ago. “His appointment will indicate a greater commitment to the IB (investment bank), but then Barclays’ profitability problems are linked to the IB and not the traditional bank,” said Mr. Chintan Joshi, analyst at Nomura. Previous CEO Mr. Antony Jenkins was fired in July after losing the support of non-executive directors in a clash over style and the pace of the bank’s turnaround. Mr. Jenkins set about reducing the importance of the investment bank after a series of scandals, while changes in regulation also made many trading activities unprofitable. It was intended as a clear break from his predecessor Mr. Bob Diamond, another American investment banker. Investors and analysts said Mr. Staley should improve morale and set a clear strategy for the investment bank after years of uncertainty, but they warned he should not build it back up aggressively.
Source : 13-10-15   Compiled by
TCS ups hiring target by 15K, to take in 75,000 this fiscal
Country’s largest software firm TCS increased its hiring target to 75,000 from 60,000 for this fiscal and said attrition level has come down marginally for the company. The attrition rate stabilised during the second quarter and stood at 16.2 percent compared to the previous three months, the company said, adding it is working on more steps to further bring it down in the third and fourth quarter of the fiscal. “We have revised upwards our hiring target due to the strong growth witnessed in the first half of the year. Accordingly, we will be hiring 75,000 this fiscal as against 60,000 as planned earlier,” executive vice president and global head Mr. Ajoy Mukherjee said. “Attrition in absolute number has come down compared to last year. I am quite hopeful that all the initiative we are taking to control attrition will pay off. In Q3 and Q4 the attrition is expected to come down further,” Mr. Mukherjee said. He further said in the domestic market too attrition has come down compared to the last quarter and the company has seen a decline on month-on-month basis. During the quarter, the company said there was a total gross addition of 25,186 people (net addition of 10,685 employees), taking the total employee strength to 3, 35,620 on consolidated basis. This is the highest for the company in a quarterly basis. The utilisation rate (excluding trainees) was at 86 percent while the attrition rate stood at 16.2 percent. “On a quarterly basis, our retention levels have improved this quarter with a net addition of over 10,000 employees in Q2. Our hiring continues to be strong with all-time high of over 25,000 employees joining us this quarter,” said Mr. Mukherjee.
Source : 14-10-15   Compiled by
Flipkart appoints Mr. S Venkataraman as new CFO for commerce platform
Flipkart, the homegrown e-commerce giant announced the appointment of Mr. Sriram Venkataraman as the CFO (chief financial officer) for its commerce platform and Mr. Pramod Jain as Vice President and Head of Taxation. ” Mr. Venkataraman Sriram, as the finance lead for the commerce platform (CP), will head all aspects of the finance function for CP and will be responsible to drive the CP business to deliver its ambitions”, the company said in a release. It said Mr. Venkataraman has over 19 years of experience in Unilever, handling a variety of leadership and operational responsibilities. His last role was Head of Sales Finance in Hindustan Unilever (HUL). “On the other hand, Mr. Pramod Jain in his role as Vice President and Head of Taxation will add his might to create a strong charter for the taxation team and play a key role in taking the team’s engagement with revenue and government authorities to the next level”, Flipkart said. Prior to Flipkart, Mr. Pramod Jain has worked with Indus Towers, the world’s largest telecom tower company and a joint venture of Airtel, Vodafone and Idea, as VP Taxation for more than five years.
Source : 06-10-15   Compiled by
Aditya Birla Group’s new HR trends: Less hiring, more productivity
Less hiring but more productivity is the way forward at the Aditya Birla Group as technology and specialization kick in to change HR trends across the industry. The group is looking to add approximately 30,000 people in the next two decades or so to its current workforce of 120,000 people, or a 1.25-fold growth, which is nearly the same seen in the last 20 years, according to its human resources head. This contrasts with the 26-fold revenue growth to $41 billion at present from 20 years ago. “Going forward there will always be fewer number of people, not just with us but in every organisation,” said Mr. Santrupt Misra, CEO, carbon black business, and director, group HR, Aditya Birla Group. “People cost will continue to grow. People’s preferences about what they want to do will continue to change. And there will be more cost advantage and more consistency in applying technology. So all of these will drive to lesser number of people.” The third largest conglomerate of India, handling its traditional manufacturing business of metals, chemicals and fertilizers, cement and fabric along with services business of telecom, retail and money, has identified employee care as one of its five guiding points for the future. “Just like new-age businesses are forcing us to re-look HR structure and processes, the traditional industrial businesses are also in need of special focus on their own HR structure and processes for the future,” said Mr. Sandeep Chaudhary, chief executive officer, Aon Hewitt. The group has so far hired 20% of its senior managers from outside, the rest being home grown, but going forward, it may hire 30% from outside with the main aim of bringing in specialists, said Mr. Misra. That said, it also announced a hiring freeze earlier at several senior levels so that the lower level employees could move up.
Source : 14-10-15   Compiled by
Twitter just hired Google’s $130 million man
Twitter hired Mr. Omid Kordestani, formerly the chief business officer at Google, to be its new executive chairman. The move comes as Twitter looks to refocus and keep expenses down. New permanent CEO Mr. Jack Dorsey announced Twitter was laying off 8% of its staff. But based on how much Mr. Kordestani was making at Google, it may have cost Twitter a pretty penny to get him to come on board. Mr. Kordestani was one of the first employees at Google. He left the company in 2009 but came back to become the chief business officer last August. He was rewarded handsomely upon his return. According to Google’s annual proxy filing for 2014, Mr. Kordestani received nearly $130 million in compensation last year. That made him Google’s highest-paid employee. Mr. Kordestani received a prorated annual salary of $236,500, a bonus of $6.5 million and stock awards worth more than $123.5 million. Based on last year’s prorated salary, it seems fair to assume that at a bare minimum, Mr. Kordestani likely made about $500,000 for his 10 and a half months work at Google this year as well. That does not include a pay raise either. A spokesperson for Twitter said that the company would reveal Mr. Kordestani’s compensation in an SEC filing sometime within the next few days. It was not immediately clear how much Mr. Kordestani would be walking away from at Google, which is now part of a bigger parent company known as Alphabet. Mr. Kordestani’s departure was effective immediately.
Source : 14-10-15   Compiled by
62 Jet Airways, Air India pilots board IndiGo
As many as 62 pilots of Jet Airways and Air India have flown out of the two airlines in a little over one year to join other carriers, with a majority of them boarding IndiGo. While private carrier Jet Airways has lost 30 pilots in 15 months to budget carrier IndiGo, state-owned Air India has seen the migration of 32 pilots in the past one year, industry sources said. “Some 30 pilots including ATR commanders and Boeing 737 first officers have left Jet Airways in the past 15 months to take up employment with IndiGo for better pay packages and work environment,”. Most of these pilots have already joined IndiGo after serving the mandatory 6-month notice period, they said, adding the rest are expected to board the airline in the next one to two months. When contacted, a Jet Airways spokesperson termed the resignation of the pilots as a part of normal attrition faced by organisations. “This is part of the normal attrition faced by organisations across industries. In all cases of resignations, the relevant provisions of notice period are applicable,” the spokesperson said. Jet Airways employs sufficient number of type-rated crew to ensure optimal use of its fleet, he added. A type rating is a regulating agency’s certification of an airplane pilot to fly a certain aircraft type that requires additional training beyond the scope of the initial license and aircraft class training. Sources said the “flexible” service contracts offered by IndiGo is one of the reasons apart from the higher pay packets for the pilots quitting Jet Airways. IndiGo offers seven different types of job contracts to its employees, providing greater flexibility, as against a single conventional contract by most of the domestic airliners, sources said. Confirming the resignation by 32 of its pilots in the last one year, a senior Air India official said this has not affected the airline’s operations in any way.
Source : 11-10-15   Compiled by
IIM Kozhikode concludes summer internships, BCG offered best Rs 3 lakh stipend
The Indian Institute of Management, Kozhikode completed the summer placements for the bath of 349 students within a record 6.5 days. The average stipend has increased by 32% to Rs 1.06 lakh this year. Boston Consulting Group offered the best stipend of Rs 3 lakh for the two-month internship, by hiring 5 students. Boston Consulting Group participated in summer placements at IIM-Kozhikode for the first time and right away took 5 students for consulting profile. 35% of the batch received offers from sales and marketing domain in companies like HUL, Nestle, ITC, Philips, Perfetti Van Melle, Marico, L’Oreal, Godrej, Shell, Kelloggs, Asian Paints, Vodafone, Pidilite, HCCB, Raymond, and Idea amongst others. Asian Paints, HCCB, Maersk and L&T made offers in operations profile to candidates. At the same time Microsoft, eBay, Mindtree, TCS, Wipro and EMC among others made offers in technology consulting and IT. Consulting recorded the placement closure by 16%, offers were made by BCG, Accenture Strategy, Deloitte, EY, KPMG, Cognizant Business Consulting amongst others. TAS, Mahindra, Airtel, Reliance and RPG gave offers in general management to students across varied sectors.
Source : 13-10-15   Compiled by
Startups are now reading minds of candidates before hiring them
The growing number of startups in India also needs an apt workforce and to ensure selection of the right candidates while hiring, the companies are now taking help of psychometrics. Companies are now trying to read candidates’ mind and then take a call on whether to select him/her or not. In India, eCommerce sector is growing by leaps and bounds and experts say that there are around 1.5 lakh jobs coning up by the end of 2016. Simultaneously, experts believe that young startups also face troubles finding the right candidates and end-up firing in hundreds. Using such scientific tools like psychometrics to judge the candidate and make the process less cumbersome is no doubt a logical option. Large business groups that have been using the technology for the development of employees have now started using it to filter the right candidates. Mr. Rajeev Dubey, group president, HR at the Mahindra Group said, “We want to test how the person fits into our culture or if he has some dysfunctional traits like low-integrity, aggressive behaviour or insensitivity.” While Mr. Amit Sinha, vice president (business & people) at eCommerce major PayTM says, “Psychometric evaluations are most definitely a value add while hiring. Based on behavioural analytics we can to some extent predict if a person is likely to commit a fraud and how likely they are to adhere to the compliance and process. Emotional control and customer service orientation are also very important.” Paytm, one of the rapidly growing companies, has announced its plans to hire 1,900 candidates by March 2016. And ever since the firm has received RBI licence for a payment bank in September, Paytm plans to hire 600 more candidates.
Source : 06-10-15   Compiled by
Accenture’s plans to secure top slot is pretty unique and hard to beat!
Accenture wants to leave its competitors far behind and is raking in money for the same. The IT firm is going to hire around 1, 00,000 employees in FY16 and also going to make acquisitions worth $1 billion in new technologies. Elucidating the strategy during a news conference in New York, Mr. David Rowland, chief financial officer at Accenture, told investors and analysts that this time also they are going to hire roughly 100,000 people, like last year. TCS is also going for the kill and will hire around 65,000 in FY16. Meanwhile, talking about acquisitions, Mr. Rowland said it is estimated that the company will spend between $900 million and $1 billion on acquisitions in FY16. The focus will be on three technologies, digital, cloud and cyber security. These three comprise $10 billion to its top line overall revenue. In last financial year, Accenture ended with $7 billion in revenue from its digital business. TCS was close to $2 billion in digital revenue in the same period. Talking about competition and digital business, CEO Mr. Pierre Nanterme told investors, “I would say that in our digital and operations business, we are the market makers. I spend a lot of my time looking at the competition, but there I would say we make the market. Our competition in digital is very fragmented and isn’t doing what we are doing.” Apparently, Indian IT firms will have a tough time as Accenture is moving really fast in the space and is deepening its ties with players of varying size across the digital ecosystem.
Source : 09-10-15   Compiled by
Standard Chartered Plans to Cut About 1,000 Top Jobs
Standard Chartered’s new Chief Executive Mr. Bill Winters plans to cut about 1,000 of the bank’s most senior staff to reduce costs, according to a memo sent to staff, as he battles to revive the bank following a sharp drop in profits. The cull shows the scale of the overhaul Mr. Winters is planning at the Asia-focused bank, which he has said needs to speed up decision-making on costs, people and strategy, and improve its risk management and profitability. Mr. Winters said he planned to reduce by a quarter the number of staff graded in bands 1 to 4, the memo seen by Reuters said. Those bands cover bankers at director level and higher and include about 4,000 staff. “Our situation requires decisive and immediate action,” Mr. Winters told staff. “Each member of the management team has a mission to drive through improvements in our returns and part of this will be further streamlining of our organisation.” Mr. Winters, a former JP Morgan investment bank boss who took over in June after the ousting of predecessor Mr. Peter Sands, said the bank would also make disposals and cut clients. Disposals would be in areas where the bank was “not differentiated”, or an activity or location “was not critical to a core strength.” Standard Chartered shares were up 5.3 percent at 788.4 pence by 1310 GMT. The shares have rallied 26 percent in the last eight trading days amid optimism Winters can get on top of its problems, but are still down 42 percent since the start of 2014. Standard Chartered has had a troubled three years due to weakness in many of its key emerging markets, rising losses from bad loans in India, China and on commodities, as well as fines from U.S. regulators and strained relations with shareholders.
Source : 09-10-15   Compiled by