HR Headlines: Apr-10 (Part-1)

For more article, Visit at : www.amreshanjan.co.cc     Jobseekers' New Mantra – Slow And Steady Wins The Race These days, jobseekers prefer to be slow and steady in their job-related decisions. Experts assert that employees are now guided by concerns of stability rather than monetary incentives. "Economic slowdown has made employees more loyal to their organisations. They believe their firms have succeeded in making the workforce more engaged in spite of uncertainty," human resource consultancy Planman HR's managing partner Mr Deepak Kaistha said. "With the market improving, they will certainly get lucrative offers. But, before shifting out, they will consider sustainability at the organisation." "The downturn has led to a shift in career preferences of individuals as they are preferring stability of jobs over higher monetary incentives. People are looking at government jobs as they are a safe bet even amid downturn-like situations," State Bank of India chief marketing executive Mr Rajendra Prasad said. Source : 28-03-10   Hindustan Times   Compiled by Amresh Anjan Unemployment In Europe Rises By 10% European inflation increased more than economists' anticipation of higher oil prices, while the unemployment rate reached double-digits for the first time since 1998. Unemployment in Europe rose to 10% in February, the highest rate since August 1998, a separate report has revealed. Even as oil prices are accelerating inflation across Europe, rising unemployment and weak demand is likely to curtail consumer spending and make it harder for companies to pass on higher costs. European Central Bank (ECB) president Mr Jean-Claude Trichet said that the ECB anticipated price developments to "remain subdued." "With rising joblessness set to further damp underlying inflationary pressures, this will allow the ECB to keep rates firmly on hold for most if not all of 2010," Mr Martin van Vliet, a senior economist at ING Bank in Amsterdam, said. He thinks that unemployment will reach around 10.5% in the second half of 2010 Source : 01-04-10   The Financial Express   Compiled by Amresh Anjan UK's Biggest BPO Capita To Appoint 1,200 Professionals Capita, UK's largest business process outsourcing firm, has deferred acquisition plan in India as BPO firm valuations in the country are very high, Mr Simon Piling, the chief operating officer of the company said. However Capita, with total employee strength of 36,000 people, is planning to hire another 1,200 people to take its India workforce to 5,000. Source : 30-03-10   DNA   Compiled by Amresh Anjan CEO Of Sun Life Gives Up Bonus Sun Life Financial, Canada's No 2 life insurer, announced that its chief executive saw his total compensation axed by 42% in 2009 after he gave up his bonus for a second year in a row. CEO Mr Donald Stewart earned C$3.836 million in total compensation in 2009, the company said. He opted to take only half his usual long-term incentive grant, taking options but forgoing shares. Source : 31-03-10   DNA   Compiled by Amresh Anjan Employees Of Rio Tinto Granted 7 To 14 Years Jail Terms A Chinese court granted jail terms to four people, including an Australian, in the Rio Tinto case for bribery and stealing commercial secrets. Court sources revealed that the Intermediate People's Court in Shanghai gave jail terms ranging from seven to 14 years to the four defendants, including Australian Mr Stern Hu, in the case. On July 5, last year, four employees of Rio Tinto, a multinational mining and resources group with headquarters in London and Melbourne, were arrested in Shanghai for corruption and espionage. Mr Hu was sentenced to 10 years in prison and fined one million yuan ($146,413, Rs 68.8 lakh) for stealing commercial secrets. Co-accused Mr Wang Yong, Mr Ge Minqiang and Mr Liu Caikui were handed jail terms of as long as 14 years, eight years and seven years respectively. Source : 29-03-10   Hindustan Times   Compiled by Amresh Anjan Pay Hikes To Happen Mainly On The Variable Side Through the rumor mill, when Ms Sumedha Anand (name changed) came to know that her organisation was planning to give a 7-10% pay hike to employees in the junior and middle levels, she didn't feel too optimistic. In contrast to other colleagues who were thumping their desks on hearing this bit of news, which came out for the first time in two years, Ms Anand was cautioned by her friend in the HR department that even if increments were to happen, they would be mainly on the variable side of the package. This implies that Ms Anand, who works as a programme analyst in an IT firm, would have to perform to achieve the increment. Besides that, it would mean that the variable payout would be dependent on the performance of her organisation. According to New Delhi-based HR consultant Mr Yogesh Saigal, employees are no longer keen on the variable component as in the last two years, payouts have been minimum; increasing the variable component would not hold much meaning as there is no assurance of it being given. But the risks involved are less and companies can gain by hiking the variable component, as the payout depends wholly on performance, as per Mr Sunil Goel, director, GlobalHunt India, an executive search firm. Such an arrangement would reveal that the company is interested in giving hikes, but would at the same time cushion it against unfavourable market conditions in the future; if a few months down the line, the financial situation falters, the company may choose not to dole out the variable pay. Source : 28-03-10   DNA   Compiled by Amresh Anjan Jobs Galore In Micro Credit Market These days, the micro finance sector is playing a key role in employment generation as well. In the last three years, this sector has created about one lakh additional jobs in rural and semi-urban areas. It is likely to create several thousand more jobs in the next couple of years, as steps to expand the scope of financial inclusion gain momentum. "As we try to increase penetration of micro finance institutions (MFIs), many jobs would be created as there would be a strong requirement of additional workforce," Mr Mathew Titus, executive director, Sa-Dhan, an association of micro finance institutions, said. Source : 30-03-10   Hindustan Times   Compiled by Amresh Anjan Deutsche Bank To Increase Its Headcount Deutsche Bank AG's prime brokerage is planning to hire more staff in Asia as it aims to attract business from hedge-fund startups in the region leading the global economic recovery, said Mr Sean Capstick, head of capital introduction. The Frankfurt-based bank has augmented its pan-Asian prime finance staff by about 20 percent over the last 18 months, said Mr Capstick, declining to give details. Source : 28-03-10   businessweek.com   Compiled by Amresh Anjan SBI To Appoint 15,000 Business Correspondents In 2010-11 SBI announced that it plans to hire this fiscal about 15,000 business correspondents, who are going to help people in the rural areas to open bank accounts. A senior SBI official said, "In order to expand our presence in the unbanked areas, the bank intends to hire around 15,000 (business correspondents) in 2010-11." It is practically not possible for banks to come up with branches in every village, so a business correspondents and business facilitator model would help in taking banking facilities to every part of the country, the official said. Business correspondents are persons who, other than helping rural people to open bank accounts, would assist in banking transactions. Source : 01-04-10   ndtvprofit.com   Compiled by Amresh Anjan India Inc Recruiting Experts To Detect Frauds Many large Indian companies have started hiring forensic accountants to detect misreporting in books of accounts, especially after the Satyam scam, global consultancy firm KPMG said. 'The need of forensic accountants is prevalent across industries. The current availability of industry specific forensic accountants is quite low and there exists a gap between demand and supply," KPMG Executive Director, Mr Deepankar Sanwalka said. Source : 29-03-10   Business Standard   Compiled by Amresh Anjan Salary Delay Disturbs AI Staff It looks like Air India is heading for turbulent times because the loss-making national carrier failed to pay salaries to its employees for March. Last week, employee unions of the airline sent angry letters to the management. "We are shocked and surprised that such a major decision was taken without informing the unions," said Mr Sanjay Lazar, general secretary, All India Cabin Crew Association, one of the two cabin crew unions. The unions have threatened 'dire consequences' if the management does not resolve the issue immediately. Source : 30-03-10   Hindustan Times   Compiled by Amresh Anjan NSDC Names Mr Chenoy As Its MD National Skill Development Corporation has named Mr Dilip Chenoy, director general of the Society of Indian Automobile Manufacturers (Siam), as its CEO cum managing director. Source : 31-03-10   The Financial Express   Compiled by Amresh Anjan Citigroup Appoints Veteran Mr Pramit Jhaveri As India Head Citigroup announced the appointment of company veteran Mr Pramit Jhaveri as the new head for its India business. He has replaced Mr Mark Robinson, who the bank said had decided to pursue an opportunity outside the firm. Mr Jhaveri, who was earlier the head of global banking and vice chairman of Asia investment banking, is going to supervise all of Citi's businesses in India, including the institutional clients group, consumer banking and wealth management businesses. Source : 29-03-10   DNA   Compiled by Amresh Anjan Ladbrokes To Name New CEO British bookmaker Ladbrokes is going to appoint Mr Richard Glynn, chairman of spread betting firm Sporting Index, as its new chief executive. Mr Glynn will be expected to beef up Ladbroke's online offering. Source : 28-03-10   DNA   Compiled by Amresh Anjan Patni Names New HR Director - EMEA Region Patni Computer Systems has named Ms Alison Fry as its new Human Resources Director for the EMEA (Europe, Middle East, Africa) region. Prior to this, she was working with Real HR Consulting, where she provided HR outsourcing consultancy to organisations in the financial and technology sectors. Source : 31-03-10   The Hindu   Compiled by www.naukri.com