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Accenture emerges Top recruiter at IIM-A placements this year; 8 students turn down offers to begin startups
With 18 students placed, Accenture Strategy emerged as the top recruiter at IIM Ahmedabad, as per the final placement report for PGP programme 2016 released by the institute in accordance with the Indian Placement Reporting Standards. Accenture Strategy was the top recruiter. Bain & Co extended 16 offers while The Boston Consulting Group extended 17. According to the report, 383 students sought employment through the business school out of the total 403 graduating this year. More than 110 firms participated in the placement process of which the top offers (108) were made by consulting firms. 8 students opted out to start entrepreneurial ventures. They will be undertaking their journey under the guidance of SINE, IIM-A’s incubation Cell and will be allowed to sit for placement in the next 2-3 years if their startup fails. Approximately 368 offers were based in India, 7 in Europe, Middle East, Africa (EMEA) and 8 in Asia Pacific. The number of international offers dropped from 40 last year to 15 this time around. A total of 108 offers were accepted by students in the consulting sector, followed by 70 in BFSI (banking, financial services and insurance), 53 in online services, 26 in IT, 12 in media and communications, and 21 in telecom, 24 in conglomerates and 28 in FMCG. Recruiters in the consulting space included global strategy consulting and niche consulting firms like Accenture Strategy, Alvarez & Marsal, AT Kearney, Bain & Company, Deloitte, McKinsey & Company, Oliver Wyman, Roland Berger, and the Boston Consulting group. The BFSI sector saw participation from global investment banks like Barclays, Avendus Capital, Citi Bank, Credit Suisse, Deutsche Bank, Goldman Sachs, and HSBC among others. In the Consumer Goods and Services sector, Procter & Gamble and Star TV India were the leading recruiters having extended 8 and 11 offers. From the e-commerce space, Amazon, Flipkart, Snapdeal, Sprinklr and Uber picked up students.
Source : 09-09-16   Compiled by
Cognizant allows work from home twice a week
IT major Cognizant has asked its employees in India to work from home twice in a week, so that it can manage space within its office. In an email to employees, the Teaneck, New Jersey based company, has given employees in corporate functions the flexibility to work from home for two days in a week. “Those people in support functions or those who are not client-facing come within this category and that this will make space for business associates and employees with client-facing roles”, said a senior employee of Cognizant. However, according to an employee, the decision is still awaiting approval from the top management and this could be revoked in future. On the other hand the company said, “The option has been broadened for associates working in corporate functions at all locations. The programme is not mandatory and employees are free to elect themselves for the programme based on their personal and professional needs.” The company has also announced that it will reimburse a fixed amount of broadband expenses for the employees who opt for this. It has been confirmed by the employ that Rs 1,500 monthly internet allowance will be given to all employees who take the option. “Most engineers in Cognizant work in shifts. Employees in support functions need not be in office to get work done. If these people stay at home, more coders can be accommodated. Almost 90% of a building in Chennai is occupied by corporate function employees and this move can make space for more core business roles,” said another employee in Chennai. The employees opting for this will be expected to apply for workstations on the Cognizant portal for the days they do come in to work. The employees will be provided a workstation in any of the offices within the city.
Source : 15-09-16   Compiled by
Flipkart to hire 10k temporary staff ahead of festive season
E-commerce major Flipkart expects to hire over 10,000 temporary staff to ramp up its delivery and logistics service to meet the festive demand. The move comes as part of the preparations being made by e-commerce companies as they launch offers to boost sales during the upcoming festive period. “With the festive season coming in, we are confident that Big Billion Days (sale) will be bigger and better than before this year. “In addition to having the new capability of alternate delivery model, we are looking at hiring more than 10,000 temporary staff in logistics and last mile across the country,” said Flipkart Chief Administrative Officer Mr. Nitin Seth. This will be done to meet the massive demand that Flipkart expects during the festive season, he added. Flipkart’s rival Snapdeal also expects creation of 10,000 temporary jobs at the company between Septem¬ber 15 to November 15, with the positions mostly being in logistics to ensure smooth deliveries. Asked about reports of the company laying off 800 people, Mr. Seth answered in the negative. “We completely and unequivocally deny any layoffs at Flipkart in the coming months. This is completely false and baseless. There are no plans for layoffs in any team in the coming months,” he added. He added that the company’s hiring plans are in line with its business goals and that it continues to hire talent in key strategic areas. In July, Flipkart had sacked some of its “underperforming” employees. While the company had refused to comment on the number of layoffs, sources had said the number ran as high as 1,000.
Source : 11-09-16   Compiled by
Top recruiters turn to non-IIM B-schools
Even as the Indian Institutes of Management (IIMs) continue to supply with high-cost graduates meant for leadership roles, top recruiters this year turned further towards other B-schools for middle management roles. Recruitments at non-IIM B-schools, both top and mid rung, grew on the back of marquee firms from leading sectors such as consulting, banking, financial services and insurance (BFSI) and information technology (IT) hiring in substantial numbers, thereby ending the placement year on a high note. While the hype over e-commerce seemed to be settling down, consulting, IT and BFSI consolidated their positions this year during placements at B-schools. At International Management Institute, New Delhi (IMI-New Delhi) consulting firms hired in large numbers according to Mr. Pinaki Dasgupta, professor (marketing) and dean, corporate relations and placements. He said there had been an increase in the number of firms visiting the campus from the traditional sectors. During placements for the batch that passed out in 2016, IMI completed its placement in only three days. There was a 33 per cent increase in firms from the manufacturing sector that recruited from IMI this year. New firms this year included General Motors, Volvo Eicher Commercial Vehicles, Tata Motors and Hero MotoCorp. Xavier’s Institute of Management, Bhubaneswar (XIMB), saw top consulting, BFSI and IT recruiters such as PwC, Deloitte, KPMG, Cognizant Business Consulting, HDFC Bank, SBI, Tata Capital, HP, Accenture, Infosys, Wipro and Capgemini recruiting in decent numbers. “Some of the sectors like consulting hired in more numbers than last year. Overall, the placement year has been better for us compared to last year,” said Ms. Saveeta Mohanty, faculty coordinator, placements, at XIMB. According to hiring analysts, the increased presence of recruiters in top and mid rung B-school campuses was partly influenced by the trend of hiring costs amidst tightening profitability.
Source : 10-09-16   Compiled by
Pay bonanza for promoters and top managers
It’s a good time to be a top corporate honcho in India. Companies and the board of directors have become generous in rewarding the top management despite a challenging economic environment. The combined remuneration for corporate India top management was up 30 per cent in financial year 2015-16, growing at the fastest pace in the last nine years. Accounting for 23 per cent growth in chief executive officers’ (CEOs’) salary in FY15, corporate India spend on top management is up 60 per cent in the last two years against 10 per cent growth in their combined net profit during the period. This makes CXOs, including owners and promoters, the biggest beneficiaries of a mild recovery in corporate performance during the period. A typical CEO or managing director took home a salary of Rs 5.5 crore in FY16, up 55 per cent from the previous year. In comparison, corporate India’s equity dividend to shareholders was up 4.7 per cent last year while their salary bill was up only 10 per cent during the period. The analysis is based on the financials and top management remuneration data of 115 private sector companies (non-PSUs) of the BSE 200 index. The top management data is for board-level positions such as CEOs, CFOs, MDs, executive director, whole-time directors and chairman. Compensation includes basic pay, perquisites, variable pay and commissions but excludes employee stock options (Esops).
Source : 13-09-16   Compiled by
Uber teams up with Maruti Suzuki to boost number of drivers
Global taxi aggregator Uber is teaming up with Maruti Suzuki to push up the number of drivers on its platform to over 1 million. According to the memorandum of understanding (MoU) signed, carmaker Maruti Suzuki will assess and train 30,000 commercial drivers for Uber over the next three years. The programme, named ‘UberShaan’ will be rolled out first in Hyderabad, Chennai, Delhi-NCR and then will be extended to Mumbai, Bengaluru, Ahmedabad and Pune. Maruti has 370 driving schools and six institutes of driving and traffic research. While the popular cab hailing company currently has over 4, 00,000 ‘driver partners’, around half of that are active every month, said Uber India President Mr. Amit Jain. “We aim to have over a million active driver partners on our platform” he said at an event by industry body Ficci. Uber also signed a MoU with the National Skill Development Corporation that will allow eligible drivers to get access to NSDCs 158 training centers to get driving training. In both cases, driver aspirants will get access to the company’s option of vehicle fleets.
Source : 15-09-16   Compiled by
Indian sky turns hot for job seekers; cabin crew training academies lose their sheen
If all goes well, the Indian aviation market will see a major boom in the cabin crew recruitment soon. According to reports, IndiGo and Jet Airways would be hiring more than 1000 cabin crews over the next one year. State run Air India and Spicejet might be recruiting some 800 and 100 people on board soon. In an interview, Go Air CEO Mr. Wolfgang Prock Schauer said they are inducting 50 cabin crews every month. Tata Sons’ ventures, AirAsia India and Vistara would recruit at least 300 cabin crew members between them over the next one year. The growth rate in the Indian sky has been too quick. As the domestic air traffic rose by 18% last year as compared to 2014, according to International Air Transport Association, the Indian market is outpacing the world in demand growth. As the airlines increase their fleet size enormously, Airbus has said it will deliver one plane every week to Indian carriers for the next ten years. As more flights gets inducted to service every other day and the destinations keep on increasing at a breakneck speed, the airlines are in need of more and more cabin crews. Gone are the days when these airlines had to worry for filling up the seats. Most flights in the metro routes are overbooked even on the lean months. Moreover the strategy of the budget airlines to let people fly at nominal rates is proving a major success. While the rosy picture of airline jobs are keeping the job market healthy, one of the major need for the recruitments is because of a high attrition rate. Pilots are the major churn in the industry. IndiGo had hired 1200 pilots last year of which 900 were net additions and rest were replacements.
Source : 10-09-16   Compiled by
7th Pay Commission: Centre forms committee to look into salary anomalies
A committee has been formed to look into various pay related anomalies arising out of the implementation of the 7th Pay Commission’s recommendations. The 22-member panel will be headed by Secretary, Department of Personnel and Training (DoPT) and it will have members from both the official and staff side. It has been decided to set up the anomaly committee of the National Council (Joint Consultative Machinery) consisting of representatives of the official side and the staff side to settle any anomalies for central government employees arising out of the implementation of the Pay Commission’s recommendations, an order issued recently by the DoPT said. From the government side, it will have Member (Staff) Railway Board, secretaries of Department of Telecommunications and Department of Posts, as its members. Besides them, Financial Adviser, Defence Ministry, two joint secretaries from DoPT and another Joint Secretary (Personnel) in Finance Ministry will also be part of the panel A Deputy Secretary of the DoPT will be Member-Secretary of the panel which has 13 people from the staff side, the order said. The Centre has accepted most of the recommendations of the 7th Pay Commission, to be implemented from January 1, 2016.
Source : 12-09-16   Compiled by
Samsung, LG accused of Silicon Valley anti-poaching deal
LG Corp. and Samsung Electronics Co. Ltd were accused in a lawsuit of conspiring to suppress wages by agreeing not to recruit each other’s employees in Silicon Valley, where allegations of no-poaching pacts have plagued technology companies for years. A former LG sales manager claims the South Korean electronics makers had a “long-standing agreement” not to “solicit or hire one another’s workers,” including top brass at both firms. The accord, dating back to at least 2005, has eliminated competition between companies whose similar work cultures resulted in frequent cross-hiring, according to the complaint in federal court in San Jose, California. The lawsuit comes more than a year after Apple Inc., Google and other Silicon Valley technology companies reached a $415 million settlement over similar claims on behalf of 64,000 employees. Mr. Joe Saveri, who represented workers in the Apple-Google case, is the lead plaintiff’s attorney in the LG-Samsung case, which involves tens of thousands of US workers, according to the complaint. “The impact of this bilateral agreement is exacerbated because of the similarity between LG and Samsung’s businesses, and the scope of the business lines in which LG and Samsung compete in the United States,” according to the complaint by Mr. A. Frost, who seeks class-action status on behalf of other employees. “Absent the agreements, LG’s workers would be the most desirable targets of recruiting efforts by Samsung, and vice versa.” LG spokesman Mr. John Taylor declined to comment on the complaint, as did a Samsung media representative in South Korea.
Source : 13-09-16   Compiled by
In Air India pilot interviews, many fail to clear the psychological test
Every third shortlisted candidate who appeared for pilot interviews at Air India since December 2015 failed to clear a crucial test to analyse their psychological health. The rejected pilots had cleared the simulator and technical exam before failing the psychometric test, said Air India sources. In numbers, this comes to 130 of 413 candidates who failed the test that was introduced by most since Indian carriers after the co-pilot of a Germanwings flight crashed his plane into the Swiss Alps in March 2015, killing all 150 on board. He was subsequently discovered to have been suffering from psychological issues for several years. However, it was not known if any of the pilots rejected by Air India found employment with any of the private carriers. “If a candidate is declared unfit in the psychiatric evaluation by one airline, can he be considered fit for any other flying position? Shouldn’t the results be shared with the DGCA and other airlines?” an aviation expert said. AI sources said the rejected pilots had cleared the simulator and technical exam before failing the psychometric analysis. Seventy five of 165 pilots who cleared the technical exam failed in the psychometric test in December, 2015 while 55 out of 248 who cleared the simulator tests flunked the written psychometric tests in May, 2016, as per sources. AI introduced written psychometric tests in December. In March last year, 36 of 160 shortlisted candidates who appeared for pilot interviews had also failed in the “psychological assessment” conducted by a panel that included a psychologist from the Indian Air Force. “AI gives high priority to safety of operations. There cannot be any compromise on entry standards,” said an AI spokesperson. Based on recommendations made by a committee headed by joint director general Mr. Lalit Gupta, the Directorate General of Civil Aviation (DGCA) last year mandated regular monitoring of pilots’ mental health.
Source : 15-09-16   Compiled by
Dell Technologies Inc expected to cut around 2,000 jobs after acquiring EMC Corp
American multinational Dell Technologies Inc has taken a big step forward by acquiring EMC Corporation that sells data storage, information security, analytics and much more. The acquisition came at a price of $60 billion plus that would establish Dell’s presence in the above mentioned fields. This, however, comes at a price for Dell as the company will reportedly be trimming its workforce by about 2,000 employees. While the exact number of jobs cannot be confirmed, a Bloomberg report pointed out that Dell is looking for ways to make up for that big buy. One of those ways would be looking for avenues that deliver cost savings of about $1.7 billion and Dell wants to achieve that target in just the first 18 months after the transaction. The same report adds that EMC Corporation adds 1, 40,000 employees and since that is quite a heavy load to take upon, Dell is expected to bring about excuses for employee reduction. While Dell’s Mr. Dave Farmer wrote to Bloomberg that the company is expecting revenue gains that should make up for the expenses, both companies are battling with brands like Amazon and Microsoft. Dell’s EMC acquisition is one of the biggest ones in the tech space, which is being valued at a staggering $67 billion.
Source : 12-09-16   Compiled by
Tata Steel Kalinganagar plant generates 17,000 job opportunities
Tata Steel’s Kalinganagar plant in Odisha claimed to have generated direct and indirect employment opportunities for over 17,000 persons. Tata Steel is setting up a 6 MTPA capacity integrated steel plant in two phases of 3 MTPA each at Kalinganagar in Jajpur district, a company release said. The first phase of 3 MTPA was dedicated to the state in November, 2015. The plant, which commenced commercial production in May this year, has generated direct employment opportunities for nearly 3,600 persons and indirect employment opportunities for over 14,200 persons, a company release said. This is considered significant at a time when most of the industries in Kalinganagar area have become sick and are laying off workers and labourers, it said. Around 48.53 per cent of the total employees are engaged directly by Tata Steel and 74.31 per cent are of contractors’ work force working for the plant, it said. Stating that Tata Steel has been adhering to the conditions of the MoU of the industries department in all its recruitment initiatives, the release said the terms and conditions laid down in the MoU are strictly followed and first preference is given to local people in recruitments. Tata Steel, which always strives for the development of local people, is also promoting employability training of the local youths of Kalinganagar. Vocational skill development training are being provided through Tata Steel Rural Development Society (TSRDS), the release added.
Source : 13-09-16   Compiled by
MNCs dominate, startups shine among India’s Best IT& ITeS: Survey
Adobe Systems India, Google India, and Microsoft India are among the 50 Best IT & ITeS workplaces in the country, according to a survey. The ‘Great Place To Work Institute’ released the second annual list of India’s Best Companies to work for in IT & ITeS segment. The list was based on an assessment of employee perceptions gauged using the engagement survey and an audit of company practices. Some of the other companies on the list include, Aegis, Global Analytics India, Happiest Minds Technologies, Hitachi Data Systems India, Kronos Incorporated, NetApp India, Pitney Bowes Software India and Shriram Value Services. Multi-National Companies (MNCs) dominated the list. Around 47 percent of MNCs featured among the Best in IT & ITeS companies compared to just 20 percent of non-MNCs making to the list. Other key companies to be featured in the list include SAP India, Intel India and PayPal. Employees from MNCs express far more positive perceptions about the workplace, compared to those from non-MNCs. Unique benefits, work-life balance, and fair share of profits were the top three areas where MNCs fared better over Indian companies, the report said. Meanwhile, the startups (less than 5 years of operation) offered a far superior experience in all areas covered in the survey compared to more established organisations, with the top three areas being celebrations at work, tolerance to mistakes, and accessibility of managers. Even though more than 80 percent of the companies had more than 5 years of operations under their belt, these findings are compelling considering the significant number of jobs created by startups being around 80,000 in 2014-15, according to a NASSCOM study. “In our survey this year, the IT & ITeS sector accounted for nearly one-third of the companies we studied across the Indian industries. The industry’s clear focus on creating a great employee experience is therefore striking,” Mr. Prasenjit Bhattacharya, CEO, Great Place To Work Institute India said.
Source : 16-09-16   Compiled by
Private sector urged to employ trained, certified workers only
The country’s private sector needs to employ only trained and certified workers to make India a global human resource hub and achieve sustainability in skill development, said a top official. “It is essential that a seamless industry value chain is created to engage the trained and certified workforce,” said Mr. Rohit Nandan, Secretary, Ministry of Skill Development & Entrepreneurship at an event. The Secretary said that Sector Skill Councils (SSCs) were created to harmonise the demand for skilled workers required by the industry and the skilling needs to suffice the demand. “The platform (SSCs) required the private sector to aggregate the demand of the industry and provide information to the government for undertaking skilling of workforce in the right skill, right number and right quality. However, there are still gaps in this area,” Mr. Nandan said. The Secretary said that the government had handed over the entire skilling ecosystem to the private sector and it was now up to them to benchmark standards and train the workforce accordingly to make them employable not just within India but also overseas. He assured that the government would continue to fund various skilling programmes and urged the industry to allocate a part of its CSR funds towards skilling. The Secretary said that the new wave of development was riding on robotics that would make many jobs redundant. However, the space of robot designing, production, software, electronics could be the explored to create new job opportunities. If India is able to anticipate the future job scenario then the country would be ready to take the lead in this area like it did in IT sector, he said.
Source : 15-09-16   Compiled by
Ms. Marissa Mayer can gain $44 million if she leaves after Verizon takeover
Yahoo CEO Ms. Marissa Mayer stands to collect a $44 million severance package if she leaves after Verizon completes its purchase of the once-mighty internet company. Ms. Mayer hasn’t announced plans to leave, but industry observers say she’s unlikely to stay after the $4.8 billion sale closes early next year. The 41-year-old executive stands to collect $3 million in cash and almost $41 million worth of stock options and awards under a “golden parachute” agreement described in a regulatory filing. In a filing last spring, Yahoo said Ms. Mayer could walk away with $55 million in compensation, but the estimates can vary with the value of Yahoo’s stock and the date she leaves. Ms. Mayer has been CEO for four years but failed to reverse a long-standing slide in Yahoo’s advertising business. After an unsuccessful effort to spin off its investment in the Chinese internet giant Alibaba, Yahoo Inc. began entertaining offers for its core business earlier this year. Yahoo weighed a variety of offers, according to the proxy statement filed. One was a merger proposal from Yahoo Japan, a separate company that Sunnyvale, California-based Yahoo co-owns with Japanese tech giant SoftBank. Another bid came from an unnamed group that asked Yahoo co-founder Ms. David Filo to consider financing its bid. Ms. Filo, who sits on Yahoo’s board of directors, agreed to talk with the group and recused himself from participating in further board discussions about a possible sale, according to the statement. The filing doesn’t say if Ms. Filo ultimately decided to join the group. But in the end, the unnamed group submitted a $4.35 billion bid that was lower than Verizon’s.
Source : 12-09-16   Compiled by