Indians Notching Top Jobs In Corporate America
Three Indian Americans have made it to the New York Times list of 15 foreign born CEOs of Fortune 100 companies in the US. Recently appointed Mr Vikram Pandit heads Citigroup, Ms Indra Nooyi is CEO of Pepsico and Ms Ramani Iyer is Chairperson and CEO of the $27 billion Hartford Financial Group. Other big guns of Indian origin in corporate America include Mr Raj Gupta, Chairperson and CEO of the $8 billion specialty materials company Rohm & Haas, Mr Vinod Gupta, CEO of the $400 million InfoUSA, and Mr Deven Sharma, President of Standard & Poor's. Other big names in the past have included Mr Rono Dutta, President of United Airlines, Mr Rakesh Gangwal, CEO of US Airways, Mr Rajat Gupta, Managing Partner of McKinsey & Co., Ms Meeta Vyas, former CEO of Signature Brands and Mr Jim Wadia, CEO of Arthur Andersen that spun off Accenture.
Source: 13-12-07 www.sify.com
More White Collar Jobs Going To Tier II Cities
The upbeat mood of Indian economy is showing its impact on smaller cities as well. The latest Assocham study reveals that Tier-II cities have cornered over 20% of white collar jobs created in the last four months. Improving infrastructure and growing talent pool in smaller cities is pushing up employability options here. Chandigarh leads the pack, ahead of Kolkata and Hyderabad,.followed by Ludhiana, Bhopal and Vijaywada. IT sector remains the biggest employer in some of these cities.
Source: 13-12-07 www.livemint.com
IT firms, Educational Institutions Gearing Up To Face Talent Crunch
India is considered the hub of IT manpower but things are not as rosy for the sector as the fear of a massive shortage of skilled manpower looms large in the next few years. Foreseeing the talent crunch, country's top IT firms are enhancing their interaction with colleges and universities to ensure that graduates who pass out from these institutions match the industry's requirements. IT firms like Tata Consultancy Services, as well as Infosys Technologies, Satyam Computer and HCL are either already working with engineering colleges or are planning to collaborate with the academia to make sure that professionals with the right skills enter the sector. It is estimated that India produces over 3.65 lakh engineering graduates and 30 lakh other graduates every year. However, hardly 20 per cent of them are suited for industry needs.
Source: 09-12-07 www.sify.com
Ability Foundation Job Fair In Delhi On Feb 24, 2008
The Ability Foundation, working for the cause of disabled people, will hold a one day job fair on 24th February, 2008 in Delhi. The fair is an extension of Ability Foundation’s Placement Wing. It been hailed as a milestone since the time it was first held in 2004. Trade-marked as EmployABILITY, the fair brings together discerning employers, sensitive to the right to equal opportunity employment for disabled people, with a sea of qualified candidates with disabilities. It connects committed companies to a wealth of graduates, post-graduates and professional diploma holders with disabilities, for mutual benefit. Here, the employer discovers a highly talented pool of future employees and the candidates have the access to the job that they are qualified for and have set their hearts on. In 2004, 32 companies registered for participation. Last year, as many as 1100 candidates from across the country attended the fair and were interviewed for jobs by 75 companies.
Source: 14-12-07 Ability Foundation
Mr Snehal Shah And Mr Nicky Tejwaney Honoured
NSR Placement Services Directors, Mr. Snehal Shah and Mr.Nicky Tejwaney have been selected among the Top 10 Young Achievers in Pune by ‘CNBC TV 18 Young Turks’. The honour has been bestowed as an appreciation of their great achievements at a young age. They have been running the IT Recruitment Consultancy successfully for the last 6 years. NSR and Temp Talent, with over 100 people, are growing at 300% every year for the past 6 years. The company is expanding on a rapid scale and there are plans to increase their headcount to 500 by 2010. NSR is looking at acquisitions in the HR (Recruitment) space marking its footprint firmly on the Indian recruitment map.
For more details visit www.nsrplacements.com and www.temp-talent.com
Source: 13-12-07 Company Bureau
SC Makes Perks Part Of Salary For Dependency Relief
In a recent ruling, the Supreme Court has held that companies have to take into consideration gross income of the deceased, including perks, allowances and contributions made by him while determining compensation for accidental relief. The apex court has ruled that any contribution made by the employee during his lifetime formed part of the salary and they should be included in the monthly income, while calculating the dependency compensation. The ruling came on an appeal of National Insurance Company Ltd against an order of the Allahabad High Court which upheld the compensation determined by the Tribunal on the basis of total package of an employee of a private company who died in a road accident.
Source: 13-12-07 The Indian Express
Citigroup Appoints Mr Vikram Pandit As CEO
Citigroup, the world's largest financial services organization, has announced the appointment of Mr Vikram S Pandit as the Chief Executive Officer with immediate effect. Mr Pandit, 50, has also been included in the board of directors. His appointment is the result of a high level search after former CEO Mr Charles Prince stepped down following huge investment losses for Citigroup. Mr Pandit was Citigroup's investment banking head before his new appointment. Prior to joining Citigroup, he has worked with rival Morgan Stanley for more than two decades. Mr Pandit has informed investors that his first priority would be to improve and enhance productivity.
Source: 12-12-07 www.rediff.com
PSUs Hiring Like Never Before
Public sector companies, especially PSUs in the infrastructure and banking sectors are doing large-scale recruitments. The new inductions are mainly happening at the entry level. For instance, Bharat Heavy Electricals (BHEL), steel major SAIL, NTPC, National Aluminium Company and Hindustan Petroleum Corporation are hiring aggressively. It is estimated that public sector is slated to recruit over 1.5 lakh employees across various levels over the next three years. Even banks like State Bank of India, Oriental Bank of Commerce, Union Bank of India, Andhra Bank and Bank of Baroda are in an expansion mode.
Source: 12-12-07 www.sify.com
Top Three IT Companies To Hire Big Time in 2008
India's top three IT companies, TCS, Infosys and Wipro are expected to recruit 90,000 people in 2008, according to Kotak Chief Strategist Mr Alroy Lobo. The big hiring will be an outcome of increasing outsourcing to India. He believed that outsourcing is growing because of three factors namely cost, scale and time-to-market. Apart from outsourcing, Mr Lobo expected high growth in construction, power, ports and the logistics sectors also.
Source: 12-12-07 www.rediff.com
Apex Court Advocates Sacking For Swindlers
The Supreme Court has ruled that there is no scope of sympathy for an employee who embezzles company funds and the fraudster deserves sacking. The ruling came in favour of an appeal by the UP State Road Transport Corporation (UPSRTC) against an Uttaranchal HC order to reinstate an employee sacked for stealing funds. The apex court ruled that there is no scope for generosity or misplaced sympathy on the part of judicial forums and they were not supposed to interfere with the quantum of punishment.
Source: 09-12-07 Hindustan Times
Bank Officers To Cause Stir In Demand Of Fixed Working Hours, Pension
The associations of bank officers across the country have come together to demand fixed working hours and provision of pension. They are also fighting against contractual appointments and mergers and acquisitions of banks. They have vowed to initiate a relentless struggle to achieve their demands. Associations believe that the bank officers have no fixed hours and end up working upto 16 hours a day. Also, their long-pending demand for a second option of pension has remained unfulfilled. The associations also assert that there was no need for mergers and acquisitions of banks as the rural market still needed to be tapped.
Source: 10-12-07 : www.sify.com
Appreciating Rupee Increases Woes Of Job Seekers
The rising value of rupee against dollar has adversely affected the export sector, thus hitting employment opportunities in this sector. In fact, the pressure on labour markets started showing last year. Latest official statistics reveal that the number of registered job seekers shot up to 4.14 crore in 2006. The increase came after two years of decline in the number of job seekers in 2004 and 2005. However, the figure in 2006 reveals that job seekers are growing at a faster rate than job opportunities. This addition in the number of job seekers is attributed to four sources: those seeking jobs for the first time, those wishing to shift from traditional agriculture to towns in search of new jobs, those who lose their jobs and seek fresh ones and those already employed and seeking better opportunities. India, along with countries such as Russia and Indonesia reported an increase in the number of unemployed while most other emerging economies reported a decrease in the number of jobless.
Source: 11-12-07 K10 Technologies
Young Professionals Constantly Looking For Greener Pastures
Not just IT and ITeS sectors, but the traditional and manufacturing sectors are also feeling the heat of rising attrition. In fact, attrition has come to be an accepted thing in most sectors now. Today, young professionals are looking for fast and tangible growth. As a consequence, they are much more mobile than their predecessor generation and always in search of greener pastures. HR departments across sectors find retention harder than recruitment of staff. So, most companies are trying to put in place innovative HR policies to retain their staff and bring down the rate of attrition. Even industry bodies such as the Confederation of Indian Industry promote a continuing dialogue and consultation programme within organisations and among HR professionals.
Source: 10-12-07 www.thehindu.com
More Women Joining The IT Industry
A study by the National Association of Software and Service Companies (Nasscom) has indicated that the percentage of women employed in the IT (information technology) and ITeS (IT-enabled Services) sectors is set to grow from 30 per cent to 45 per cent by 2010. The male-female ratio is also expected to improve from 76:24 in 2006 to 65:35 by early 2008. Nasscom President Mr Kiran Karnik upheld progressive and flexible human resource management policies as a reason for more educated young women joining the IT industry.
Source: 13-12-07 www.thehindu.com
Technosoft To Set Up Development Centre at Bengaluru; Hire More
Technosoft Corporation, based in US and a leading player in outsourcing services, will set up a development centre in Bengaluru as part of its expansion plans in India. Currently, the company has a centre in Chennai, which employs over 350 people. In an attempt to leverage the large pool of skilled resources in Bengaluru, the company is expected to employ 200 professionals over the next 12 months.
Source: 11-12-07 Hindu Business Line
Growth Of Indian Job Market May Slow Down In New Year
According to a survey conducted by Manpower Services India, the pace of growth of the Indian Job Market may slow down in the first quarter of the New Year although hiring will still remain at considerably good levels. The survey was conducted across seven industries including finance, manufacturing, mining and construction, public administration and education, services, transportation & utilities, wholesale and retail trade. Mining and construction is the hottest in hiring outlook for Q1, 2008, at more than 49 per cent. All other sectors have shown a dip in the Net Employment Outlook.
Source: 11-12-07 Hindustan Times Business
Mr Deepak Dhar Becomes Managing Director At Endemol India
Endemol India has promoted Mr Deepak Dhar from his current position as a Creative Director to Managing Director. His promotion follows the exit of Mr Rajesh Kamath, who has left Endemol to head the general entertainment channel planned jointly by Network18 and Viacom. Mr Dhar will assume his new role from January 2008. He Endemol India in 2005 and has produced popular shows for Endemol such as Big Brother, Operación Triunfo and Mission Ustaad. Earlier, Mr Dhar worked with STAR TV as group head, programming. Before joining STAR, he was senior producer at MTV for three years.
Source: 10-12-07 www.agencyfaqs.com
Reshuffle At Lowe India
Following the buyout of Lintas by IPG in May this year, the top management at Lowe India has been reshuffled. Mr R Balakrishnan (popularly known as Balki) is the new Chairman & Chief Creative Officer of Lowe India. Mr Charles Cadell is the new CEO of Lowe India. Mr Pranesh Misra has been re-designated as Global Director of Marketing Accountability, while Mr Prem Mehta remains the Chairman of the Lintas group.
Source: 12-12-07 news.moneycontrol.com
Mr James Murdoch Most Likely To Head News Corp
Mr Rupert Murdoch's younger son Mr James Murdoch will return to News Corp to be in charge of its Asian and European operations. His return further strengthens his position to eventually take over the global media empire. Mr Murdoch, 34, will assume the role of Chairman and Chief Executive of Europe and Asia at News Corporation. He will be responsible for its broadcasting, print and Internet divisions including Hong Kong-based Star TV, Britain's Sun newspaper and Sky Italia. Mr James Murdoch will be based in London and will report to Peter Chernin, News Corp's President and Chief Operating Officer.
Source: 08-12-07 news.yahoo.com
Ex Blair Confidante Joins Morgan Stanley
Mr Jonathan Powell, the former chief of staff to ex-British Prime Minister Mr Tony Blair, will join Morgan Stanley’ s investment banking division as a Senior Managing Director. He will take up a full-time position at the leading bank. In his capacity as Sr MD, he is expected to play a role in transactions involving some of the bank's largest clients in UK and Europe. After working with Mr Blair for 12 years, he stepped down when Mr Blair stepped down as prime minister in June. Mr Powell is a former journalist and diplomat. Earlier also, many British government officials have gone on to work for banks in an advisory capacity but Mr Powell's role is more unusual in that it will be full time.
Source: 08-12-07 www.news.bbc.co.uk
New CEO At IndusInd
IndusInd Bank has appointed Mr Ramesh Sobti as Managing Director and CEO. Mr Sobti’s appointment follows the sudden resignation of Mr Bhaskar Ghose. Prior to this, Mr Sobti was the Executive Vice-President and country representative at ABN Amro Bank. His position has been filled by Ms Meera Sanyal at ABN Amro Bank. Reasons for Mr Ghose’s exit are still unclear.
Source: 08-12-07 www.telegraphindia.com
Novartis To Lay Off 2.5 % Workforce
In a bid to make annual savings of $1.6 billion in 2010, Switzerland's Novartis AG plans to cut down 2.5 percent of its global workforce. As a result, around 2,500 jobs will be slashed. The drugmaker is also looking at restructuring exercise. The savings, thus made, would appreciate the value of its stock. A lack of significant new drugs, declining sales of lucrative flagship franchises and fierce competition are cited as the reasons behind a wave of restructuring in the industry. Novartis's latest cuts come just two months after it revamped its U.S. drugs business, cutting 1,260 jobs to help generate annual savings of $230 million.
Source: 13-12-07 news.yahoo.com
UK Jobless Rate Dips
Latest data from the Office for National Statistics has revealed that the number of people seeking jobless benefits in the UK has fallen to a 32-year low. The number claiming jobseeker's allowance was 813,000 in November, the lowest since June 1975. Total unemployment, including those not claiming benefit, fell 15,000 to 1.64 million in the three months to October. Also, average earnings increased by 4% in the year to October, down 0.1% from the previous month's rate. This data is expected to ease inflationary pressures. However, analysts are apprehensive as to how long the good news could continue, given the shaky global economic outlook.
Source: 12-12-07 news.bbc.co.uk
Dresdner To Shed More Than 200 Jobs
Dresdner Kleinwort, the investment bank owned by insurer Allianz, plans to cut more than 200 jobs following recent market turmoil and credit crunch. The bank is set to cut about 60 jobs in its credit department.
Source: 11-12-07 Hindustan Times Business
In UK, Pensioners Getting More Comfortable Financially
According to a report from the Office of National Statistics (ONS) in UK, pensioners have become better off in the past decade. Their average incomes have risen by more than a third above the inflation rate. Official figures reveal that from 1994/95 to 2005/06, gross pensioner incomes rose by 37% in real terms. By contrast, workers' average earnings rose by just 18% above inflation. State benefits, including the state pension, contributed the most towards the income of the average UK pensioner. As the figures show, in 2005/06, the average weekly income among male pensioners was £257 and £229 for women.
Source: 08-12-07 26
Job Flexibility Leads To Healthier Lifestyle
A study conducted on effects of workplace flexibility on health behaviours has proved that flexibility at workplace can result in healthier lifestyle for employees. Data for the study came from Health Risk Appraisals completed by employees of a large multinational pharmaceutical company. The study says that if companies provide workplace flexibility and if employees perceive that flexibility as real, then healthier lifestyle habits are put into action by those employees.
Source: 12-12-07 The Financial Express
Compiled By: Amresh Anjan
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