HR Headlines –

YOY Jobs moved down by 8% in October 2016 over October 2015 owing to the festive season: Naukri Job Speak Index
The Naukri Job Speak Index for the month of October 2016 stood at 1580, recording a decrease of 8% in hiring activity over the same period last year. This dip was primarily caused by the festive season which saw Dussehra, Durga Pooja and Diwali fall in October. Hiring activity generally tends to slow down around these festivals as recruiters go slow on hiring plans and job seekers also temporarily suspend their job hunt. Ms. Sumeet Singh, Chief Marketing Officer, Infoedge India said, “In October we saw a dip in new jobs due to the impact of the festive season which saw three major festivals falling in October. However, we are confident that this is a temporary phenomenon and in the coming month jobs growth will start improving.”
Source : 16-11-16   Compiled by
Flipkart, Snapdeal might give IIM, IIT placements a miss
Normally regular recruiters Google, Flipkart, Snapdeal, Zomato and Hopscotch might not be visiting Indian Institutes of Management (IIMs) and Indian Institutes of Technology (IITs) campuses during final placements this year. According to IITs and IIMs, Google has opted out of select institutes to instead recruit through its own process. The other e-commerce players have either not registered or not confirmed their participation for final placements. Citing both a tough market scenario in e-commerce and the previous years’ experience, the institutes say some of these major players might not come. In the recently concluded summer placements at premier B-schools, such absence was prominent. “Some of the larger recruiters from the previous year from e-commerce like Flipkart, Snapdeal and Hopscotch did not come for summer placements. However, FMCG (fast moving consumer goods) and other standard recruiters hired in larger numbers and students got their choice of internships. The trend might continue into the finals,” said Ms. Sapna Agarwal, head of career development services at IIM Bangalore. Prominent among these will be Flipkart, which earlier this year had deferred joining dates from May-June to December for students it had hired during campus placements last year, due to an organisational rejig. The move had sparked outrage among the IITs and IIMs, which then pledged to scrutinise companies that attend campus placements, especially start-ups and seek joining date commitments from e-commerce recruiters. Flipkart had been undergoing an organisational rejig amidst its struggle with global rivals Amazon and Alibaba, which have become aggressive in India.
Source : 16-11-16   Compiled by
Mr. Rishi Jaitly appointed CEO of Times Global Partners
Times Internet, the digital venture of the Times of India group, announced the appointment of former Twitter India head Mr. Rishi Jaitly as CEO of Times Global Partners. Times Global Partners is a platform which supports launch and expansion of emerging global digital companies in India. “We are thrilled to welcome Mr. Rishi Jaitly to the Times Group. In the last decade, under his leadership, both Twitter and Google have successfully entered the Indian market, immersing themselves in every segment of the country’s business, media and digital landscapes,” Times Internet Vice Chairman Mr. Satyan Gajwani said. Mr. Rishi Jaitly said: “My mission has always been to harness the power of technology and media to ensure we fully realize the untapped potential of people, communities and markets. Joining Bennett Coleman as CEO of Times Global Partners advances my mission and the work of building bridges to and within India.” Mr. Jaitly quit Twitter India on November 1 after spending four years at the popular microblogging website. He had played a key role in expanding the company’s operations in India and expanded @TwitterMedia across Asia Pacific and Middle East.
Source : 16-11-16   Compiled by
Google announces new London office, 3,000 jobs expected
US tech giant Google confirmed it will expand its vast campus in central London, a move a source said is expected to bring 3,000 jobs to the British capital. Google announced it would add a new office building to a complex currently under development behind London’s King’s Cross train station, which the tech firm said would be its first wholly owned and designed building outside the US. “Here in the UK, it’s clear to me that computer science has a great future with the talent, educational institutions, and passion for innovation we see all around us,” Google CEO Mr. Sundar Pichai said in a statement. “We are committed to the UK and excited to continue our investment in our new King’s Cross campus.” An estimated 3,000 jobs will be created by the move, a source close to the matter told AFP. The ten-storey building adds to Google’s previously-announced plans in the British capital, with 2,500 Google employees already working in one office and more due to move into a building set to open in 2018. In total 7,000 Google staff will eventually be working at the King’s Cross hub, with no date given for the opening of the newly-announced third office. Google’s announcement was welcomed by Britain’s finance minister, Mr. Philip Hammond, who said it signalled a “big vote of confidence” in the UK as a global tech hub.
Source : 16-11-16   Compiled by
Snapdeal goes through restructuring exercise
Softbank-backed Snapdeal has witnessed a restructuring exercise under which market development, category management and part of brand alliances teams have come under Mr. Vishal Chadha, senior vice president (SVP), business of the company, according to a report. The report quotes a letter addressed to the employees by the company’s co-founder Mr. Rohit Bansal which said these changes were “imperative” and will help the company achieve better business results. Mr. Saurabh Bansal, vice president and head – category management will now be taking care of Snapdeal Instant, a service which aims to deliver shipment faster. Mr. Tony Navin, will now be heading strategic partnerships and new initiatives of Snapdeal. The move comes barely a few weeks after the Diwali sale period where the company was regarded to be the third in terms of number of units sold, after rival Flipkart and Amazon. Earlier this year, Snapdeal also announced Rs 200 crore budget for a 360-degree campaign in the run up to the Diwali festival. In September, Snapdeal unveiled a new logo and tagline, Unbox Zindagi.
Source : 11-11-16   Compiled by
Maternity Benefit Bill: 26-week paid leave to be mandatory for employers
Establishments employing 10 or more persons will be required to grant 26 weeks of paid maternity leave as against 12 weeks at present with Parliament set to pass the Maternity Benefit (Amendment) Bill, 2016, during the winter session. The Bill has already been passed by the Upper House by a voice vote amid support from all political parties. The change in law is likely to benefit 1.8 million women working in the organised sector. Apart from having a positive impact on women’s participation in the labour force, the provisions under the Act would also have a major impact on the health, well-being and growth of the future generation in the country. The leave extension, however, would be applicable in case of women who have less than two children and in other cases, the existing period of 12 weeks’ leave will continue. Out of 48 crore workers in India, only 18% belong to the organised sector while the rest work in the unorganised sector. Apart from the leave extension, establishments having more than 50 workers will have to have a creche. This facility can be individually owned or on shared basis and allow four visits to the creche by the woman on a daily basis. This includes the interval for rest allowed to her. Though the extant Act mandates only three months’ leave, many private organisations give the newly mothers’ extension to heal themselves and take care of the new-born. Apart from the humane angle, the move also helps in enhancing employees’ loyalty to the organisation. Sources said rather than introducing any new Bill, the labour ministry would pitch for passing two more pending Bills — Factories (Amendment) Bill, 2016 and Employees’ Compensation (Amendment) Bill, 2016 — in the ensuing session. Both the Bills have been passed in the Lok Sabha and are now awaiting the clearance from the Upper House before becoming Acts.
Source : 11-11-16   Compiled by
Flipkart-owned Jabong hit by exit of 2 senior executives
Jabong, the fashion marketplace owned by Flipkart, has seen the exit of its two senior executives — chief marketplace officer Mr. Ranjan Kant and its HR head Ms. Deepa Chadha. These departures come within three months of Jabong being acquired by Myntra, also owned by Flipkart. Following these exits, the operations and HR teams will report into Mr. Muralikrishnan, the chief operating officer, who will lead the product and technology divisions. Myntra CEO Mr. Ananth Narayanan in a communication to the employees has said that a new structure is being put in place to further accelerate Jabong. The changes will be implemented in the next two weeks. Mr. Kant had joined the company in January from Snapdeal where he was its head of strategy. HR head Ms. Deepa Chadha joined Jabong in February. She will be replaced by Ms. Parul Gupta who will be joining Jabong soon. Ms. Gupta was with Citibank earlier. Myntra acquired Jabong in July this year for $70 million beating other suiters such as e-commerce firms Snapdeal and Aditya Birla Group-owned Abof.
Source : 12-11-16   Compiled by
Twitter COO Mr. Adam Bain quits
In a big loss to Twitter, the company’s Chief Operating Officer (COO) Mr. Adam Bain who was in charge of the micro-blogging website’s revenue business, has decided to leave the company. According to a company filing, Chief Financial Officer Mr. Anthony Noto will take over as COO. “After six years and a once-in-a-lifetime run, I let CEO Jack (Dorsey) know that I am ready to change gears and do something new outside the company,” Mr. Bain tweeted. Mr. Bain “will remain at Twitter in the coming weeks” to help transition his job responsibilities to Mr. Noto. Mr. Bain has been credited with building Twitter’s entire multi-billion dollar advertising business. “We took the company from $0 to billions faster than almost anyone’s ever done it. We diversified the business, took it global,” Mr. Bain tweeted. Mr. Noto will continue to run Twitter’s live video efforts and will take over all revenue, sales, global partnerships and business development. Twitter is going through a major overhaul under Mr. Dorsey as many top—notch executives have quit the company in the recent past. As of the third quarter of 2016, the microblogging service averaged at 317 million monthly active users.
Source : 10-11-16   Compiled by
Indian financial services firms lap up high-profile exits from MNCs
With multinational financial services firms are downsizing Indian operations, Indian financial services firms are making most of the opportunity by filling their top-deck with senior executives who have left behind their highly paid positions at MNCs and making a comeback to the homeland. Global firms such as Citibank, Standard Chartered Bank, HSBC, Goldman Sachs and Deutsche Bank have seen an exodus of Indian executives at global offices in the last several months. In one of the prominent changes, Mr. Ranjan Ghosh, managing director and global head of banks, financial institutions group at Standard Charted Bank, moved from its Singapore office and joined Centrum Financial Services Ltd as its managing director and chief executive officer (CEO) in August. Mr. Ghosh’s movement took place four months after Mr. Jaspal Bindra, ex-Asia Pacific CEO of Standard Chartered Bank, joined Centrum Group as its chairman along with acquiring a minority stake. The flight of talent can be attributed largely to entrepreneurial opportunities, said experts. “Attractive business building or entrepreneurial opportunities in India, allowing them to leverage their experience and the freedom/ownership to build new businesses/scale up nascent businesses,” said Ms. Anjali Forbes, senior partner, executive search firm Transearch India, as one of the reasons for the comeback of senior executives.
Source : 16-11-16   Compiled by
U.S President Mr. Donald Trump may force Indian IT to hire more US employees
Indian IT companies will need to step up local hiring in the United States and move less work offshore putting a strain on their margins, as Mr. Donald Trump gears up to take over as the US President, winning the mandate over his anti-immigrant rhetoric. This would put additional burden on Indian firms such as Infosys, Wipro and Tata Consultancy Services, who are already facing their worst growth dip in a decade. While these business are getting newer projects in areas such as cloud and digital technologies from clients in the US, the growth is not offsetting the rapid decline in traditional services that contributes four out of five dollars to their revenue. Infosys and Cognizant have cut their annual revenue forecast, while Wipro expects flat revenue growth in the quarter to December. This also has prompted India’s software lobby Nasscom to say that it would revise downwards the 10-12 per cent growth it had projected in April. US contributes to over 60 per cent of India’s $108 billion software exports. “Any reform of the US immigration laws, inspired by Mr. Trump, will probably make it harder for the IT industry to move its employees into the US market. This will likely take the form of fewer H1Bs, higher cost for visas, and caps on the number of visas the firms can utilize,” said Mr. Peter Bendor-Samuel, Founder and chief executive of Everest Group, a global outsourcing advisory. “The likely response would be to hire more US based resources. Taken together these changes would raise the cost to operate for the industry and reduce the Indian firms cost advantages,” he added.
Source : 15-11-16   Compiled by
YES Bank appoints Mr. Amresh Acharya as Global Indian Banking head
Private sector lender YES Bank said it has appointed Mr. Amresh Acharya as Group President and head of Global Indian Banking. Mr. Acharya will report to Senior Group President, Retail and Business Banking Mr. Pralay Mondal. “As an important addition to YES Bank’s top management, Mr. Amresh Acharya will be responsible for driving Global Indian Banking business to generate significant mindshare for YES Bank in identified International and Domestic NRI geographies including the Yes First and Yes Private Segments,” the bank said in a release. Mr. Acharya will play a vital role in capturing market share on a global scale and build stable CASA (Current and Savings account) deposits, and fee income through distribution of banking and investment products, it added. YES Bank offers a comprehensive product suite, technology enabled remote channels, a wide distribution network in India and partnerships with banks in various overseas markets including USA, Canada, Europe, South East Asia, UK, Australia and GCC (Gulf Cooperation Council) countries.
Source : 14-11-16   Compiled by
Tata Sons removes Mr. Cyrus Mistry from TCS; Mr. Ishaat Hussain interim chairman TCS
The boardroom battle between Tata Sons and Mr. Cyrus Mistry entered a new phase with the former removing Mr. Mistry from the chairman’s role at India’s largest IT services provider Tata Consultancy Services (TCS). Tata Sons which holds 73.33% stake in TCS has appointed Mr. Ishaat Hussain, as the interim chairman of the company with immediate effect. In a BSE filing the TCS said: “The Company has received a letter dated November 09, 2016 from Tata Sons Limited nominating Mr. Ishaat Hussain as the Chairman of the Board of Directors of the Company in place of Mr. Cyrus P. Mistry with immediate effect. In view of this, Mr. Mistry has ceased to be the Chairman of the Board of Directors of the Company and Mr. Hussain is the new Chairman of the Company.” The company has been further informed that Mr. Hussain shall hold office as chairman of the company until a replacement is appointed in his place.
Source : 10-11-16   Compiled by
Automobile industry aims to create 6.5 crore jobs by 2026
The Indian automobile sector aims to contribute over 12 per cent to the gross domestic product of the country, and create nearly 6.5 crore additional jobs by 2026 over the next decade, said Mr. Kenichi Ayukawa, Managing Director and Chief Executive Officer of Maruti Suzuki India. “Our vision is that over the next decade, the Indian Automobile sector must contribute in excess of 12 per cent of the country’s GDP. We want to create nearly 65 million additional jobs by 2026,” Mr. Ayukawa said. According to Mr. Ayukawa, at present the automobile industry contributes around 7.1 per cent to the GDP of India and employees nearly 32 million people directly or indirectly. In the last ten years, the automobile industry has invested around $35 billion. “Our responsibility towards the communities where we are operating also increases. It’s our duty to develop a sustainable, mutually beneficial and inclusive socio-economic ecosystem,” he said at the Society of Indian Automobile Manufacturer’s (SIAM) first ever CSR (corporate social responsibility) conclave. “Over the past 10 years, the Indian automobile industry has made significant contribution to the socio-economic development of village communities. Fortunately, our efforts are well aligned with the Government’s flagship missions of Clean India and Skill India.” Mr. Ayukawa said by 2026, the automobile industry not only seeks to increase mobility, but will also focus on promoting safe, comfortable and environment friendly mobility.
Source : 16-11-16   Compiled by
As Air India cuts cost, staff strength plunges 8%
State-owned Air India, which reported an operating profit of Rs 105 crore during FY16, in what was seen as early signs of a turnaround, also managed to increase its revenue per regular employee by over 12% to Rs 1.09 crore in the year. This was achieved by reducing the number of regular employees to 19,401, down 8% compared with FY15. Air India, which received a bailout package of Rs 30,000 crore by the government in 2012, had frozen hiring of regular employees in 2012 and has since hired pilots and cabin crew on contract. This improved the airline-to-employee ratio to 1:120 (excluding subsidiaries) compared with 1:139 in the earlier fiscal. “It would be very difficult for us to substantially improve on most counts any further but a better aircraft utilisation is even harder as it’s a legacy problem that is peculiar to government-owned companies,” said a senior airline official. Additionally, while the airline has managed to trim its staff size by hiring contractual staff as pilots and for cabin crew, it would have to start hiring regular employees for administrative posts as these can’t be on contractual basis. “As more senior officials retire, we would have to start hiring regular employees in a staggered manner soon. This could adversely impact expenses unless we improve in other areas,” the official said.
Source : 15-11-16   Compiled by
Bosch to hire over 3,000 associates this year
Bosch, a global supplier of technology and services, is likely to hire around 3,200 associates from the country in the current year, a senior executive of the company said. “We at Bosch are likely to hire around 3,200 associates from the country in the current year,” said Mr. Robert Bosch Engineering and Business Solutions president and managing director, Mr. Vijay Ratnaparkhe. The company has already hired 10,000 people during the past six years in the country and as of now, its total manpower in the country stands at 18,000, he said. The company will be hiring people from two places — Bangalore and Coimbatore — where the company has its R&D centres. “While we will be hiring 1,920 people from Bangalore, the remaining recruitments will be done at Coimbatore, he said. Talking about the areas for which it will be hiring, he said, “We are looking for people to work in areas like competency, data analytics and artificial intelligence
Source : 11-11-16   Compiled by