| It Doesn’t Pay To Be Nice |
| A study by a team of experts at the University of Essex has found that men who are nice at work are paid less than their nastier colleagues. According to the study, male workers who are pleasant earn 6% less than those who are more aggressive. The study further revealed that men who are extroverts and open to new experiences have the best chance of higher salaries, earning 9% more than shy colleagues. The study was conducted over 3,000 men aged between 24 and 64 for the project, dividing them into five personality groups: openness to experience, conscientiousness, extroversion, agreeableness and neuroticism. |
| Source: 23-08-09 mirror.co.uk Compiled by Amresh Anjan |
| Attractive Bosses Are A Threat To Productivity |
| A study of nearly 2,000 British executives, commissioned by HireScores.com, has revealed that a pretty or handsome boss is distracting and leads to lower productivity at work. According to the study, 47 per cent men maintain that an attractive female boss would distract them too much, resulting in lower productivity and higher testosterone levels. 53 per cent of women working for an attractive male boss claim they would be far too intimidated, getting flustered during one-on-one meetings, blushing when he catches their gaze and controlling their giggling when he's around. For attractive bosses of the same sex, 86 per cent of men admitted they would feel threatened and 61 per cent of women feel they would feel jealous. |
| Source: 26-08-09 Business Standard Compiled by Amresh Anjan |
| Govt Staff To Receive Salary Arrears Soon |
| There is good news for government employees ahead of this festival season. The government has decided to release the second and last instalment of salary arrears to government servants numbering about 50 lakh (5 million). 40 per cent arrears were dispatched last fiscal and the remaining 60 per cent will be released now. This will put a burden of over Rs 17,500 crore (Rs 175 billion) on the exchequer. Pensioners will also get their final instalment of arrears. |
| Source: 25-08-09 www.rediff.com Compiled by Amresh Anjan |
| Satyam BPO To Hire 300 People By Next Month |
| The BPO division of Mahindra Satyam will recruit an additional 300 persons by next month. The company hired 700 people last month as it has recently bagged a major contract from a domestic client for providing back office support. After hiring new recruits, the total headcount of the company would stand at 2,900. Mahindra Satyam BPO has one delivery centre each in Hyderabad, Bangalore, Chennai and Pune. |
| Source: 26-08-09 www.hindustantimes.com Compiled by Amresh Anjan |
| HR Conclave By DMA In Gurgaon |
| Delhi Management Association (DMA), in collaboration with Indian Business Academy, is organizing a mega ‘HR Conclave’ on Thursday, 24th September, 2009 at Hotel Radisson, Sushant Lok, Gurgaon. Th event will be attended by renowned corporate heads, HR experts and senior management professionals, who will share their experiences and brain storm on the theme ‘HR Interventions As A Catalyst To Face Post Recessionary Challenges’. The programme directors are Mr. Hari Nair, Vice President, Sona Koyo Steering Systems and Mr. Ritesh Jain, CEO, Indian Business Academy. For further details/sponsorship/registration, contact Mr Rajan Pandhi, Dy Director, DMA, 9810877615, 011-24629555(D) or Email info@dmadelhi.org /dmadelhi@sify.com |
| Source: 27-08-09 DMA Compiled by Amresh Anjan |
| Accept Salary Cuts: AI Chief To Staff |
| Reeling under acute losses, the Air India management has asked employees to accept proposals to cut wages and other costs in order to avoid job losses. Air India CMD Mr Arvind Jadhav has told leaders of 14 unions that if costs were not brought under control, the company would have to prune its operations, leading to lay-offs and retrenchments. Air India has announced timely payment of salaries to its employees for August. Earlier, the management had decided to cut incentive payments by half. To protest the move, Air India employees went on hunger strike, and have announced that they will continue to protest by not working overtime between Friday and Sunday, and then forming human chains and holding luncheon protests. |
| Source: 26-08-09 www.dnaindia.com Compiled by Amresh Anjan |
| IITs’ Faculty Demands Wage Hike; Threaten Hunger Strike |
| Demanding revised wage hike by September 4, nearly 1,500 faculty members across the IITs have threatened to go on mass hunger strike. Earlier, around 400 IIT Delhi teachers took mass casual leave to express protest. Faculty of IIT Madras, Kharagpur and Bombay have also boycotted classes over the last few days. Teachers are arguing that the current pay regime was not enough to compete with multi nationals and government firms, which paid as much as Rs 12 to 18 lakh per annum. |
| Source: 26-08-09 www.hindustantimes.com Compiled by Amresh Anjan |
| Salaries, Executives' Bonuses Slashed At PE Firms |
| Top equity firms have frozen pay hikes and withheld bonuses this year, in wake of the economic downturn. Top PE professionals, who draw huge eight-digit salaries, have suffered a cut back in their remuneration. The pay packages for new hires have also been reduced. Salaries of senior PE professionals have taken a hit because of the fall in deal flows as the bonuses given to them are based on deals and exits from an investment. |
| Source: 26-08-09 www.rediff.com Compiled by Amresh Anjan |
| ESOPs For Employees Of Dhanalakshmi Bank |
| Dhanalakshmi Bank has introduced an Employee Stock Option Plan (ESOP) for its employees to reward its staff and attract and retain new talent. An ESOP Trust has been formed that will grant six per cent of the bank's share capital to the Trust. All employees who were on the rolls of the bank as on December 31, 2008, and a few select ones who have joined the bank after that date would be eligible for the ESOPs. |
| Source: 24-08-09 www.business-standard.com Compiled by Amresh Anjan |
| Sony To Replace 20 Expatriates With Local Talent |
| Japanese electronics giant Sony is looking to replace 20 expat employees at top positions with local talent in the next few years. The move is part of the company's strategy to nurture local leaders to hold the reins of the company in future. The company has nearly 750 employees in India, but most of the top positions are held by expatriates. Local talent development is part of its new three-pronged approach for India which includes brand enhancement and channel development too. |
| Source: 27-08-09 www.dnaindia.com Compiled by Amresh Anjan |
| Rajasthan Govt Removes Ban On Employees' Transfer |
| The Rajasthan government has lifted ban on transfers of state employees. The orders would be applicable in all departments, boards, corporations, and autonomous bodies on the request-transfers and on the requirement of the department in all categories and grades. |
| Source: 24-08-09 www.ptinews.com Compiled by Amresh Anjan |
| NetApp Hires Mr Rajesh Janey |
| Mr Rajesh Janey has been appointed by NetApp as president (India and Saarc). Based in Delhi, he will be responsible for accelerating sales and market development as well as channel development for the company. Prior to this, he was with EMC where he held various positions including head of channels and vice president for North, East and Bangladesh business. |
| Source: 28-08-09 Business India Compiled by Amresh Anjan |
| Loop Mobile And Loop Telecom Appoints New CEO |
| Mr Sandip Basu has been appointed as chief executive officer of Loop Mobile and Loop Telecom. As CEO, he will be responsible for launching Loop Telecom on a national level and strengthening the position of Loop Mobile in Mumbai. Prior to this appointment, Mr Basu was with XCEL Telecom as managing director and CEO. |
| Source: 28-08-09 Business India Compiled by Amresh Anjan |
| New MD & CEO At CARE |
| Credit Analysis & Research Ltd (CARE), a credit rating agency, has appointed Mr D R Dogra as managing director and chief executive officer. Prior to this, Mr Dogra was working as deputy managing director of the agency. He joined the agency as deputy general manager in 1993. He was promoted to the post of general manager in 1998 and executive director in 2000. In June 2008, he was promoted to deputy MD. |
| Source: 26-08-09 www.dnaindia.com Compiled by Amresh Anjan |
| Japan's Jobless Rate At A Record High |
| Japan's unemployment rate touched an all-time high in July when it peaked to a seasonally adjusted 5.7 percent, the highest level in Japan's post-World War II era. The previous record was 5.5 percent, last hit in April 2003. |
| Source: 28-08-09 news.yahoo.com Compiled by Amresh Anjan |
| 1,800 Jobs To Be Axed At Network Rail In UK |
| Network Rail, the company that owns Britain's rail infrastructure, is planning to slash 1,800 maintenance jobs by April 2011. Currently, the firm employs a total of 33,000 people across the country. |
| Source: 27-08-09 news.bbc.co.uk Compiled by Amresh Anjan |
| Recession Forcing British Employees To Delay Retirement |
| In the face of deepening recession, people in UK are increasingly delaying their retirement while others are still putting more in their pension pot. A poll by pension advisers MGM Advantage found that nearly 30 per cent working people aged over 55 have put off their plans to retire. Another study by Aon Consulting said that one in five workers was increasing contributions to pension during the downturn. |
| Source: 26-08-09 news.bbc.co.uk Compiled by Amresh Anjan |
| Lloyds To Eliminate 200 Jobs More |
| Lloyds Banking Group in the UK has decided to shed a further 200 jobs, taking the total jobs cut this year to 7,500. The cuts will come in the general insurance arm of Lloyds, which is 43%-owned by the government. Employees at offices located in Newport, South Wales and West Yorkshire will be affected the most. |
| Source: 25-08-09 news.bbc.co.uk Compiled by Amresh Anjan |
| Japan Airlines To Cut 5,000 Jobs To Save Costs |
| In a bid to reduce costs by $1.6 billion, cash-strapped Japan Airlines will trim its headcount by about 5,000 employees or 10% of its group workforce by March 2012, according to media reports. The job cuts will be made through attrition and other steps such as encouraging early retirement. The JAL group had about 48,900 employees as of April. |
| Source: 25-08-09 www.livemint.com Compiled by Amresh Anjan |
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