HR headlines – courtesy

Uber, MasterCard, P&G and PayPal among new entrants to IITB placements
The first phase of placements at Indian Institute of Technology Bombay (IIT-B) will be led by financial services firm Visa and IT giants Microsoft and Google. They are scheduled to conduct interviews and make offers on Thursday — the first day of the placements. While the list of companies for the first two days of the placements — when most of the coveted offers are made — is similar to the last year. There are some notable additions such as app-based aggregator Uber, fast moving consumer goods (FMCG) company Procter and Gamble. They are both slated for day one. Other companies such as financial services’ firm MasterCard and e-wallet firm PayPal – would visit the campus on the second day, claimed sources. This year marks the re-entry of Public Sector Units (PSUs) with six companies already registered for phase one of placements. Companies like Oil and Natural Gas Corporation (ONGC), Bharat Petroleum Corporation Ltd (BPCL and Bharat Electronics Limited (BEL) will be visiting the premier institute for the first time. While ONGC will be conducting interviews on day one, the Indian Space Research Organisation (ISRO), which was part of the second phase of placements at IIT-B last year, will be conducting interviews on the second day. E-commerce giant Flipkart, which had made seven offers on the second day of placements last year, is absent from the list of companies scheduled for placements on first two days this year. Last year, Visa had offered the highest base salary of $115,000 per annum while Google, Microsoft and Oracle, reportedly, offered around $1,00,000 a year as base salaries to a few students who were selected for US profiles. According to placement coordinators, about three companies may offer US profiles this year, although they refused to divulge their names.
Source : 01-12-16   Compiled by
High-profile exits continue at Flipkart
Flipkart Internet Pvt. Ltd’s vice-president and private label head Mr. Mausam Bhatt and senior vice-president of engineering Mr. Peeyush Ranjan are the latest to join a wave of high-profile executives who have quit the company. While Mr. Bhatt’s next move is unclear, Mr. Ranjan is moving to join online rental platform Airbnb Inc. in the US. Mr. Adarsh Menon, who headed Flipkart’s electronics business, will replace Mr. Bhatt as the head of Flipkart’s yet-to-be-launched private-label business. Flipkart’s current engineering chief Mr. Ravi Garikipati will take over the responsibilities of Mr. Ranjan, who was one of the company’s high-profile hires from the Silicon Valley. Flipkart confirmed the changes. Mr. Ranjan, who joined Flipkart in May 2015 from Google (Alphabet Inc.), had moved back to the US in June and given up his day-to-day responsibilities of overseeing Flipkart’s engineering function. He helped launch the company’s San Francisco office where engineers and computer scientists are working on mobile technology, machine learning and other newer technology areas.
Source : 30-11-16   Compiled by
PayU India hires Mr. Maneesh Goel as new CFO
Naspers backed PayU India announced appointment of Mr. Maneesh Goel as its new Chief Financial Officer. As part of his new role at PayU India, Mr. Goel would directly report to Mr. Aakash Moondhra, CFO, PayU Global. Recipient of the Global CEO award ‘Dinner with CEO’ at Dell, Mr. Maneesh Goel has spent over 19 glorious years in the field of finance. Most recently, he served as the CEO of Den Snapdeal TV Shop, building a TV Commerce business in 2014 and scaling it up to achieve the breakeven. Owing to his efforts in the domain, he was recognized as the ‘key biz talent’ at Dell and put on a structured career acceleration program for three years. “Mr. Maneesh Goel brings forth industry extensive experience in the financial and entrepreneurial domain. His expertise in strategic planning, working capital and funds management and establishing automated systems are going to work in the favour of PayU India. I extend him a warm welcome and look forward to together achieving the goals and objectives of the organization,’ said CEO PayU India, Mr. B. Amrish Rau. “PayU India is one of the leading names to reckon in the digital payment landscape today. I am excited to be part of a team that has some of the best creative and innovative minds in the industry. We share our vision towards financial inclusion and digitalization and I am inspired to put the best foot forward and contribute towards PayU India manifesting the same vision,” said CFO PayU India, Mr. Maneesh Goel.
Source : 25-11-16   Compiled by
Standard Chartered is going aggressive to make profits, to fire a tenth of its banking staff globally
Standard Chartered is set to cut about a tenth of its global corporate and institutional banking headcount, sources with direct knowledge of the matter, as the bank steps up an aggressive drive to cut costs. Chief Executive Mr. Bill Winters this month branded the bank’s income and profit unacceptable, as below-forecast third-quarter results underlined the challenges facing his overhaul. The job cuts will be rolled out beginning this week across all the major business centres starting with Singapore and Hong Kong, said one of the sources. “We are making our corporate and institutional banking division more efficient,” a Standard Chartered spokesman said, without revealing how many jobs are to be axed. “Removing duplication in roles and managing our costs to protect planned investments in technology and people means that a small number of existing roles will be impacted.” Former JPMorgan investment banker Mr. Winters has already moved to close the stock trading business and raise $5.1 billion in capital. These efforts have paid off for Standard Chartered’s bottom line, and its third quarter result marked a second consecutive quarter of profit after it swung to an annual loss for 2015, when it was hit by the costs of revamping its management team.
Source : 29-11-16   Compiled by
Mr. Noel Tata emerges as top contender to be the next Tata Sons Chairman
After Mr. Cyrus Mistry ’s removal as the chairman of Tata Sons, the Tata group has been shortlisting contenders for the top post and Mr. Noel Naval Tata, the half-brother of Mr. Ratan Tata and the current Managing Director of Tata International, has emerged to be a contender for the top job at Tata Sons. According to sources, his name is amongst the few internal candidates like Mr. N Chandrasekaran and Mr. Ralf Speth who have emerged as potential candidates shortlisted for the race for the top job at India’s largest conglomerate. Post Mr. Mistry’s sacking, Tata Sons’ board brought back 78-year old Mr. Ratan Tata for 4 months as the interim chairman. In that period, the 5 member panel comprising Tata himself along with TVS Group chairman, Bain Capital’s Mr. Amit Chandra, Mr. Ronen Sen and Lord Kumar Bhattacharyya, have been mandated to finalise a candidate. There are some external names in the list too. These include Former Unilever COO Mr. Harish Manwani. However, sources suggest it’s still premature to suggest anything definitive. It has also being said that that Mr. Manwani or Mr. Chandra have also so far not met the panel for any interviews. “The list is a small one and Mr. Noel Tata is certainly in it. He is someone who is fully aware of the Tata ethos and value systems that has come under strain in recent times,” an official keeping a close tab on the ongoing developments said.
Source : 30-11-16   Compiled by
IIT Kharagpur only Indian institute in top-100 ranked for employability
Quacquarelli Symonds (QS) has released the first edition of a new ranking based on graduate employability, in which IIT Kharagpur (IIT-KGP) has emerged as the only Indian institute in the top 100. Others such as IIT Madras, Delhi and Bombay have been ranked in the 101-150 band in the QS Graduate Employability Rankings 2017, followed by IIT Kanpur and the University of Delhi in the over-201 band. The new ranking, which features 300 top universities globally, is designed to improve the quality of analyses about the links between university practices and graduate employability. Globally, the index has seen Stanford University and Massachusetts Institute of Technology (MIT) bag first and second places, respectively, followed by China’s Tsinghua University. According to QS, universities with a strong STEM — Science, Technology, Engineering and Mathematics — focus, particularly those emphasising technology, have been ranked highly. The methodology for the rankings differs from that found in the global rankings, using different indicators and changing the weighting of the existing indicators which it retains. The rankings’ first edition is based on five criteria including employer reputation with a weightage of 30 per cent, partnerships with employers (25 per cent), alumni outcomes (20 per cent), employers’ presence on campus (15 per cent) and graduate employment rate (10 per cent). Among the criteria, IIT Madras has scored 96.6/100 for graduate employment rate, making it India’s highest-scoring university for this indicator, and the fourth-highest scoring university in the world for this metric. On the other hand, University of Delhi scored 98.6/100 for alumni outcomes, thereby being ranked at 13th position globally for this indicator.
Source : 26-11-16   Compiled by
TCS is planning to build a tech platform after it moved away from Bell Curve appraisal model
Tata Consultancy Services (TCS) moved away from the Bell Curve model of appraisal and now is mulling over the new one. TCS is planning to bring in different models of appraisals for its IT and BPO employees and rework its increment system from the scratch. It is likely that some employees will be assessed on the basis on project completion, doing away with the half yearly method. “There will be separate appraisal systems for IT and BPO employees and we are even looking at how senior executives should be appraised. This is all being tested out now. Nothing firm has been decided,” a TCS executive with knowledge of the matter said. TCS might also build a platform where regular feedbacks would be recorded. “The system for BPO employees would be more based on social media, like the internal Knome platform we currently use,” the executive said. TCS will do appraisal once in a year, instead of half-yearly appraisals, targeted employees would move to a project-end appraisal cycle – and that the projects could last anywhere from two months to a year. Apart from TCS, HCL Technologies is also building new platforms for appraisals. Infosys has already launched iCount platform this year.
Source : 25-11-16   Compiled by
IIM-Ahmedabad Prof may be next IIM-Bangalore chief
Almost nine months after Mr. Sushil Vachani quit as the director, IIM Bangalore, the HRD Ministry has finalised the name of Professor G Raghuram as his likely replacement. Professor Raghuram, who has been a teacher at IIM Ahmedabad for nearly three decades, is currently chairperson of the Public Systems Group at the premier B-School. He specialises in infrastructure and transport systems, and logistics and supply chain management and has researched on the railway, port, shipping, aviation and road sectors. He studied at IIT-Madras and IIM-Ahmedabad before going to Northwestern University in US for doctorate. He has co-authored six books. Professor Raghuram was the Vice-Chancellor of the Indian Maritime University from July 2012 to March 2013. He, along with Professor Murali Chandrashekaran, currently teaching at the Sauder School of Business in Vancouver, and Mr. Arvind Sahay, also a professor at IIM Ahmedabad, were in the running for the top job at IIM Bangalore. HRD Minister Mr. Prakash Javadekar is learnt to have indicated his preference for Professor Raghuram. The file, with the panel of three candidates along with the minister’s preference, has been despatched to the Appointments Committee of the Cabinet. The committee’s final approval is pending.
Source : 25-11-16   Compiled by
TCS, Infosys, Wipro rush to hire Americans, fearing tighter U.S. visa regime under Mr. Donald Trump’s Presidency
Anticipating a more protectionist U.S. technology visa programme under a Donald Trump administration, India’s $150 billion IT services sector will speed up acquisitions in the United States and recruit more heavily from college campuses there. Indian companies including Tata Consultancy Services (TCS), Infosys and Wipro have long used H1-B skilled worker visas to fly computer engineers to the U.S., their largest overseas market, temporarily to service clients. Staff from those three companies accounted for around 86,000 new H1-B workers in 2005-14. The U.S. currently issues close to that number of H1-B visas each year. President-elect Mr. Trump’s campaign rhetoric, and his pick for Attorney General of Senator Mr. Jeff Sessions, a long-time critic of the visa programme, have many expecting a tighter regime. “The world over, there’s a lot of protectionism coming in and push back on immigration. Unfortunately, people are confusing immigration with a high-skilled temporary workforce, because we are really a temporary workforce,” said Mr. Pravin Rao, chief operating officer at Infosys, India’s second-largest information technology firm. While few expect a complete shutdown of skilled worker visas as Indian engineers are an established part of the fabric of Silicon Valley, and U.S. businesses depend on their cheaper IT and software solutions, any changes are likely to push up costs.
Source : 28-11-16   Compiled by
Maruti Suzuki training students at ITI Pusa, making them job ready
Students at the Industrial Training Institute (ITI) Pusa, Delhi have a newfound confidence and surety of employment now, thanks to corporates setting up their centres in the school to train students in various trades. One of the biggest investors in the institution is automotive major Maruti Suzuki. The company has developed an advanced workshop for the students of Mechanical Trade to teach them the latest developments in the automobile industry. The workshop that was started around a year ago at a cost of Rs 85 lakh has facilities such as Auto Body Painting (ABP) and Auto Body Repair (ABR), apart from Motor Mechanics. ABP and ABR are the new subjects added to Mechanics by the National Council for Vocational Training in the year 2014. ITI Pusa is the first institute to have a workshop for these two subjects. In first, the students at this ITI are also receiving training by a Japanese trainer in Mechanics. The trainer has been invited by Maruti Suzuki to teach the latest technology and ethics of the company. The initiative is supported by Human Resources and Industry Development Association (HIDA), Japan. Talking about the initiatives, Mr. Ranjit Singh, General Manager, CSR and Sustainability, Maruti Suzuki said: “We have tied up with 141 ITIs across the country to provide skill development training to students. The facility of an advanced workshop, where we are teaching auto body repair and painting to the students, was first started in the Pusa centre and we are very happy with the result. After the training started, almost 100 per cent of students have been placed with various Maruti dealerships.” “It is a win-win situation for us, we train students in the latest trends in the automobile industry and get them placed as mechanics at various dealerships of Maruti; they get employment and we get trained mechanics.
Source : 30-11-16   Compiled by
Government unveils National Software Policy, eyes 3.5 million jobs by 2025
The government has issued the draft of first ever National Software Policy with an aim to increase share of Indian software products in global market by 10 fold to estimated $148 billion and create employment opportunity for 3.5 million people by 2025. The policy will “strive for a tenfold increase in share of the global software product market by 2025 by promoting easy access to local domestic/international market for software product” and “create 3.5 million direct and indirect jobs by 2025”, the draft said. The software product industry is estimated to be $411 billion globally today and is expected to reach around $1 trillion by 2025. “However, in India the software product industry is still in its infancy stage. The total revenue of software product industry in India is $6.1 billion, out of which $2 billion is from exports,” the draft said. As per the estimates, the Indian software product industry accounts for 1.48% of global market and government’s mission to increase it by 10 fold will take it to $148 billion by 2025. The IT Industry in India is around $143 billion and is expected to grow to $350 billion by 2025, as per industry body Nasscom. The draft policy aims to create conducive environment for creation of 10,000 technology start-ups to develop software products that are globally competitive and thereby generating a direct and in-direct employment for 3.5 million persons.
Source : 28-11-16   Compiled by
GoDaddy India MD Mr. Rajiv Sodhi quits
Mr. Rajiv Sodhi, GoDaddy’s India and Australia managing director and vice president, has quit the web hosting platform to join tech giant Microsoft. Mr. Sodhi had joined GoDaddy from Microsoft, where he served as India director for SMB (server message block), cloud and software sales. He will be re-joining Microsoft in December to head its cloud and server business. An MBA from Harvard Business School, Mr. Sodhi had previously worked with marketing and consulting firm Sapient and software company GrapeCity India. Mr. Andrew Low Ah Kee, executive vice president at GoDaddy International, said in a statement on that Mr. Sodhi was instrumental in helping GoDaddy expand its business in India over the past four years. “India is a priority market for GoDaddy and we’re excited about the growth opportunities in the region,” Mr. Kee said. “GoDaddy will be hiring a new managing director in India as the company accelerates its plans to help small businesses throughout the country build powerful digital identities.” GoDaddy had launched its Indian operations in June 2012 by setting up an office in New Delhi and hiring Mr. Sodhi.
Source : 28-11-16   Compiled by
Salesforce plans to add 5 lakh jobs in four years
With increasing digitisation in India, cloud computing technology provider Salesforce along with its partners plan to add 5 lakh jobs by 2020. The California-headquartered company, which gets the bulk of its revenues from small and medium-size businesses deploying customer management and marketing software, believes that contrary to the notion that cloud computing takes away jobs, it is confident that an increasing number of workforce will find jobs in the tech sector. Companies in India are not hiring engineers in masses as advances in technologies are making many engineers redundant. Of the 5 lakh jobs, around 1, 36,000 jobs will come from within the Salesforce ecosystem (partners, system integrators), said Ms. Eileen O’Mara, Senior Vice-President, Commercial Sales, APAC. “Apart from direct jobs, we expect 350,000 indirect jobs to be added in India,” she added. Salesforce had commissioned a study to research firm IDC and these findings have come out of that initiative, company executives said. Also, these developments are coming at a time when demonetisation initiatives by the government is pushing the use of digital technologies that can substitute usage of cash is rapidly making inroads.
Source : 24-11-16   Compiled by
Assam 7th Pay Commission to be implemented from April next year
Around 5 lakhs state government employees of Assam will get benefit after the state government has accepted the recommendation of the 7th Pay Commission in principal and it would be implemented by April next year. Assam Finance minister Dr Himanta Biswa Sarma said that, to implement the 7th Pay Commission around 5 lakhs state government employees will get benefit. “It would bring in an additional burden of Rs3238 crore on the state exchequer,” the Assam finance minister said. Mr. Sarma said in a press conference that, Pay Commission has suggested increasing the minimum pay scale of a state government employee from the existing Rs. 6000 to Rs. 15900. “The Assam government intends to implement it from April next year and form it around 5 lakhs state government employees would be benefited,” Mr. Sarma said. “The Commission used the Aykroyd Formula for determining the minimum pay, as has been done by the 7th CPC. According to this analysis the minimum pay has been fixed at Rs.15900 which is 2.62 times the minimum pay recommended by the Assam Pay Commission 2008. This implies a real increase of 16.44% over the previous minimum pay. The Commission has recommended a maximum pay of Rs.1,30,000 as fixed pay and with this the ratio of the maximum pay to minimum pay has become 8.18 as against 9.08 in case of the earlier Pay Commission,” the Assam minister said. According to the recommendations of the Pay Commission, the rate of increment has been recommended as 3% to be added on July 1 every year and employees completing three months or above in the grade as on July 1shall be eligible for such increment.
Source : 28-11-16   Compiled by
Mr. Ajit Narayanan is the new CTO of Flipkart-owned Myntra
Bengaluru-based fashion e-tailer Myntra Designs Pvt Ltd’s chief technology and product officer Mr. Shamik Sharma has moved on to an advisory role and Mr. Ajit Narayanan has been appointed as the new CTO of the Flipkart-owned firm. Mr. Narayanan was formerly the head of engineering at the Mukesh Bansal-founded fashion portal. A Myntra spokesperson confirmed the development, without providing further details. As per sources, Mr. Sharma is expected to leave Myntra after a four-year stint at the company. Mr. Sharma’s current LinkedIn profile says, he is “senior technology advisor at Myntra and other startups.” His profile also says that, he “helped the company grow from $30 million to $1 billion.” Mr. Sharma, a former Yahoo and Lytro employee, had joined Myntra in September 2012.A Myntra statement said, “Mr. Ajit Narayanan has been appointed as the new CTO of Myntra. He was earlier heading storefront engineering and has been a key leader in several of Myntra’s innovations. He has been elevated to head all engineering at Myntra.” In August, two other top executives had quit Myntra. The executive were Mr. Prasad Kompalli, head of commerce, and Mr. Abhishek Verma, who led the fashion brands vertical.
Source : 28-11-16   Compiled by