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Mind What You Are Wearing At Office! A national survey by staffing firm TeamLease and research firm Synovate has revealed that you are tend to be judged by your dress at your workplace. According to the survey, 89% respondents agreed that dressing has a long-term impact on the overall image of an individual, 75% said that well-dressed people are taken more seriously and 54% said that laggards make up for poor work with better dressing. Other interesting findings of the survey were – nearly half of the respondents feel a standard dress code is strict but necessary; geeks, often believed to be most casual dressers, prefer a dress code; many said that a standard dress code improves productivity, though it is not clear how; most of them said men spend as much time on grooming as woman. The survey also found out that more than 70% respondents felt that dressing style has a direct impact on the sexual harassment faced by women. So, better mind what you wear to office.
Source : 19-05-10 Hindustan Times Compiled by Amresh Anjan
Jobs In US – Gone With The Wind -America's economy is strengthening but millions of jobs lost in the downturn could be gone for good. And unlike in past recessions, jobs in the beleaguered manufacturing sector aren't the only ones expected lost forever. What makes the Great Recession different is the variety of jobs that may not return. That explains why economists think it will take minimum five years for the economy to regain the 8.2 million jobs wiped out by the recession - longer than in any other recovery since World War II. It indicates that even as the economy strengthens, more Americans could face years out of work. As it is, the percentage of the labor force unemployed for six months or longer is 4.3%. This is the highest rate on records dating to 1948.
Biotech Firms Face Talent Crunch Biotech firms from Bangalore and Hyderabad are regretting recruiting close to 3,000 new employees in 2009 as 80% of them are not employable. They are still in the training process and are getting a stipend of Rs 10,000. Most of those hired were freshers. The result is that it is unable to attract the best talent with the kind of mediocre salaries being offered at the entry level and consequently it is not able to maintain high quality research standards as required. At senior levels, Indian biotech firms have managed to attract good talent from the US, weaning back some of the best brains that left the shores many years ago. But even at that level, there are only a few firms that can offer attractive perks.
Source : 19-05-10 The Financial Express Compiled by Amresh Anjan
BA To Take Legal Action To Prevent Strikes - British Airways is going to take legal action to try to stop strikes by its cabin crew. The strikes are part of a long-running disagreement over pay and conditions that comes from BA's plans to save money to counter falling demand, volatile fuel prices and greater competition.
Source : 15-05-10 DNA Compiled by Amresh Anjan
CAG To Add 3,000 To Its Headcount Annually- CAG, the country's top auditor, said it plans to hire 2,000-3,000 semi-skilled people every year to manage the increasing work pressure. "We are planning to take on board 2,000-3,000 people every year. We may also take up more people going forward," Comptroller and Auditor General Mr Vinod Rai said. "Our manpower sanction limit is 63,000, but currently we have on rolls only 47,000," he added.
Source : 19-05-10 The Indian Express Compiled by Amresh Anjan
BoR Staff Stage Protests Against Merger With ICICI - Alarmed at its merger with ICICI, the employees of Bank of Rajasthan (BoR) launched an agitation to protest against it. ICICI Bank said that it had entered into an agreement with "certain" shareholders of BoR to merge the Jaipur-based lender with itself. Unlike the new private sector lenders, BoR employees' salaries are still decided by the industry salary package negotiated by the Indian Banks Association with bank staff unions. The protection of pension and service conditions are critical concerns and employees staged a protest through the country, said Mr Vishwas Utagi, secretary, All India Bank Employees Association. Employees of BoR are likely to benefit on pay, since the new private sector lenders are known to be better paymasters than the public sector and old private sector lenders. But, this comes along with an expectation of higher productivity.
Source : 20-05-10 Business Standard Compiled by Amresh Anjan
Pfizer To Slash 6, 000 Jobs Drugmaker Pfizer Inc is going to cut 6,000 jobs, or 18 percent of the staff, at its 78 manufacturing plants over the next five years, as it cuts back operations following last year's purchase of rival Wyeth. The drugmaker plans to close down operations at eight plants in Ireland, Puerto Rico and the United States by late 2015 and reduce activities at six factories in those countries, plus Germany and Britain.
Source : 18-05-10 Business Standard Compiled by Amresh Anjan
PepsiCo India To Recruit 500 This Year PepsiCo announced that it will hire 500 people in India this year to meet its manpower requirement for maintaining its annual growth rate of over 30 percent in 2010. "We would need to keep on adding top talent to our already fantastic team," said Mr Pavan Bhatia, executive director (human resources), PepsiCo India.
Source : 19-05-10 Hindustan Times Compiled by Amresh Anjan
Philips To Add 200 More To Its R&D Staff - Philips Innovation Campus, Bangalore (PIC), said it will hire 200 more employees mainly for the research and development (R&D) team focused on Philips' healthcare business. With 1, 400 employees at present, the campus is responsible for Philips' innovation both for India and for selective global programmes and projects.
Source : 20-05-10 Deccan Herald Compiled by Amresh Anjan
Downturn Creates New Entrepreneurs The global economic slowdown has helped in creating many more self-entrepreneurs, with one in every six people describing oneself as 'self-employed', a world survey by Kelly Services, a workforce solutions company, revealed. The survey, which received views of approximately 1,30,000 people, including 4,000 in India, said that more than a third of the respondents expressed a desire to work more on their own. It revealed that 18 per cent those who responded are currently self¬-employed. This category is comprises of 26 per by those in the 48-65 years group, another 20 per cent by those between 18-29 years and 14 per cent of those between 30 and 47 years. So, from a generational perspective, there is a pattern of younger workers being more passionate than their older counterparts about embarking on a more entrepreneurial work arrangement.
Source : 15-05-10 Business Standard Compiled by Amresh Anjan
AI Unions To Strike On 31 May - Major Unions attached to Air India (AI) said that they will go on a strike on May 31, to protest delayed payment of wages. The salary, wages, allowances and emoluments due and payable to the workmen on or before May 30 are ordered to be paid on June 7.
Source : 20-05-10 The Financial Express Compiled by Amresh Anjan
Two New Exec Directors Appointed By Sebi- The Securities and Exchanges Board of India (Sebi) announced the appointment of Ms Pradnya Saravade and Mr Ananta Barua as executive directors. Ms Saravade, who has been on deputation with the Sebi since July, 2008, and has been handling the Investigations Department, will continue to head the department, it said. On the other hand, Mr Barua is an advisor in the Legal Affairs Department of Sebi, the market regulator said, adding that he has been working in the LAD since 1992 and has assisted the board in framing of regulations.
Source : 20-05-10 Business Standard Compiled by Amresh Anjan
Hitachi Appoints A New Director- Hitachi Data Systems Corporation, a wholly owned subsidiary of Hitachi, appointed Mr Srikant Chakrapani as director, channels and strategic alliances for India.
Source : 17-05-10 The Financial Express Compiled by Amresh Anjan
Ms Roshini Bakshi Named As Walt Disney's VP - Ms Roshini Bakshi has been elevated to the position of Vice-President, consumer products, publishing and retail, The Walt Disney Company India. She is going to oversee all of Disney's retail interests and continue to be responsible for creating and executing strategy for both the consumer products and publishing businesses, in addition to retail.
Source : 17-05-10 The Financial Express Compiled by Amresh Anjan
Mr. Muralidharan Appointed As Bahwan COO- Mr VM Muralidharan has been appointed by Bahwan CyberTek as COO of Global Business. He will be steering the business of BCT globally and overseeing the sales and marketing strategies.
Source : 17-05-10 The Financial Express Compiled by Amresh Anjan
INS Gets Mr Chakor Doshi On Board- Mr Chakor Doshi, chairman of Walchandnagar Industries, is set to be a part the board of trustees of Indian Nuclear Society (INS). The INS board comprises renowned personalities like Mr Anil Kakodkar, former chairman of Atomic Energy Commission, Mr S Banerjee, chairman Atomic Energy Commission & secretary, department of atomic energy and Mr VK Iya, former group director, Bhabha Atomic.
Source : 17-05-10 The Financial Express Compiled by Amresh Anjan
NTPC Names New Director – Mr. DK Jain has been named as Director (Technical), NTPC. Before this, he was heading the Engineering Division of NTPC as Executive Director.
Source : 16-05-10 Hindustan Times Compiled by Amresh Anjan
Mr Arvind Vasudeva Is Glenmark's COO- Glenmark Pharma announced that it has named Mr Arvind Vasudeva as the COO of the company. "Mr Vasudeva will be based at the company's corporate headquarters in Mumbai and will report to CEO and Managing Director Mr Glenn Saldanha," the company said in a release. He would be responsible for looking after the entire branded generics business of Glenmark.
Source : 19-05-10 The Financial Express Compiled by Amresh Anjan
Mr. Nikos Kordassis Re-designated As Jet CEO- Domestic private airline, Jet Airways announced that it had re-designated Mr Nikos Kordassis as its Chief Executive Officer. He has been re-designated with immediate effect, the airline added.
Cable&Wireless Gets A New Director- Cable&Wireless Worldwide has appointed Ms Geetika Saigal as director for Enterprise Sales in India. Prior to this, Ms. Saigal had held senior positions at British Telecom and the Tata Group, according to a company release.
Source : 19-05-10 The Hindu Business Line Compiled by Amresh Anjan
Mr Venu Srinivasan Steps Down From Wabco–TVS board- Mr Venu Srinivasan has quit as Chairman and Member of the Board of Wabco-TVS from May 19. Mr. Venu Srinivasan has been heading the airbrakes business since 1979.
Source : 20-05-10 The Hindu Business Line Compiled by Amresh Anjan
Bharti Retail Gets A New COO -Bharti Retail, a part of Bharti Enterprises, has appointed Mr Andrew Levermore as its Chief Operating Officer. He will join Bharti Retail in July this year and lead the operations for Easyday and Easyday Market stores across the country, a release said. Before this, he served as director (stores) of the South African operations of global retail giant Woolworths.
Source : 15-05-10 Business Standard Compiled by Amresh Anjan
Naukri Job Speak Brings Good News For Jobseekers The Naukri Job Speak Index for Apr-10 at 1019 is the highest ever and has surpassed the pre-downturn levels indicating a much improved hiring environment. Hiring activity for the top industrial sectors has been forging ahead strongly indicating a rebound in the job market. The first quarter of 2010 has been very optimistic as the job index has been consistently moving in a positive direction with the Feb index moving up by 17% bringing back the much desired positive swing in the job market. A year on year comparison of the job index shows all industry sectors, cities and functional areas moving in a positive direction.
Source : 12-05-10 naukri.comCompiled by Amresh Anjan
Huawei Staff Is Trying To Be Desi! Chinese expatriates working in India for Huawei Technologies are taking on local names and dress in a charm offensive aimed at easing deep-seated qualms of their company in New Delhi. An official of the company, Vice-President Mr Weimin Yao, has adopted "Rajeev" as his Indian name while a colleague, Mr Li Jian, calls himself "Amit" Li when he is at the Indian group's headquarters in Gurgaon, New Delhi. The company's bid to build a local image in India comes as Delhi is taking a harder line on imports of Chinese telecoms equipment, with security agencies this year blocking orders of gear from China amid fears this could be embedded with spying devices. To protect its expanding market share in India, Huawei has gradually sought to localise, setting up a research and development centre in Bangalore, India's Silicon Valley, and pledging to invest $500m over the next five years in manufacturing and operations.
Citigroup Director To Get A Whopping $350,000 For 3 Weeks Work Citigroup Inc is going to pay its board member Mr Robert Joss up to $350,000 this year for three weeks of consulting work, according to a filing with the US Securities and Exchange Commission. Citigroup vice chairman Mr Lewis Kaden said that Joss already was paid $100,000 for consulting services performed from August through December of last year, according to the May 7 filing.
Source : 11-05-10 DNA Compiled by Amresh Anjan
Why Are Ghost Employees Being Paid, HC Asks MCD The Delhi High Court slammed the Municipal Corporation of Delhi (MCD) for its affidavit on the 'ghost employees' scam and wanted to know why the missing 22,853 employees were being paid. The court said that the civic body's document concealed more than it disclosed, while criticizing the affidavit that put the blame on the agency's sanitation department and substitute employees. Disbursement of the money meant that Rs 11 crore was being given every month to 'nobody', the court noted.
Unemployment In UK Increases To 2.51 Million The number of unemployed people in the UK increased by 53,000 to 2.51 million during the three months to March, official figures have revealed. The current unemployment total is at its highest level since December 1994. However, the total number of people claiming unemployment benefit declined in April by 27,100 to 1.52 million - a sharper fall than expected.
Source : 12-05-10 news.bbc.co.ukCompiled by Amresh Anjan
Job Opportunities For Senior Managers Increase According to experts, the recovery in the job market has set the ball rolling for top executives to look for lucrative job opportunities with one in every 10 C-level executives switching jobs since the recovery. "We are definitely seeing increased C-level executive turnover," recruitment firm Korn/Ferry International's office MD Mr Deepak Gupta said. Executive search firm GlobalHunt Director, Mr Sunil Goel said, "Post-slowdown, we have witnessed every 10th C-level executive has changed jobs… they are looking for challenging assignments."
Source : 10-05-10 The Financial Express Compiled by Amresh Anjan
RBS Axed 2, 600 Jobs Royal Bank of Scotland announced that it is axing 2, 600 more jobs, or 14 percent of its staff in its British insurance arm and retail banking headquarters. The bank has been cutting staff since it was bailed out by the govt.
Source : 11-05-10 Indian Express Compiled by Amresh Anjan
Fate Of Air India's COO Is Still Uncertain Air India has named a new operations head, but his terms are not yet set, which has put a big if on his appointment. A month after the formal announcement that he would be the first Chief Operating Officer (COO) of Air India, Mr Gustav Baldauf has arrived in India to negotiate his compensation package and other details with the airline. Both sides are likely to bargain hard with Mr Baldauf enjoying the right to turn down the offer if it doesn't suit him. Prior to this, Mr Baldauf was with Australian Airlines as its executive vice-president (flight operations) and has also served AI's national rival Jet Airways as its vice-president (flight operations).
Source : 10-05-10 Hindustan Times Compiled by Amresh Anjan
Jobless Claims In US Drop Again Jobless Claims in US dropped for a fourth straight week, a sign that employers are retaining more workers as the economy expands. Initial jobless claims declined by 4, 000 to 4, 44, 000 in the week ended May 8, higher than median forecasts of economists surveyed.
Source : 13-05-10 Business Standard Compiled by Amresh Anjan
Chairman, CEO Roles At Goldman Sachs Likely To Split The California Public Employees Retirement System, Calpers -the largest U.S. public pension fund, has voted to split the roles of chairman and chief executive officer presently held by Mr Lloyd Blankfein at Goldman Sachs Group Inc. Calpers voted for a shareholder proposal that would require the company to divide the positions the next time it names a CEO, the fund announced. Goldman's board collectively opposed dividing the roles, arguing that the current structure provides clarity and efficiency. Calpers said it voted 1.81 million Goldman shares. Mr Blankfein, who has led the company for almost four years, is going to face shareholders at the annual meeting in New York, three weeks after the firm was sued for fraud by the U.S. Securities and Exchange Commission. The SEC claims that Goldman misled clients who purchased mortgage-backed securities. Goldman contests the claims and said it will help investigators.
Source : 08-05-10 Business Standard Compiled by Amresh Anjan
Patni Names Senior VP IT Firm, Patni Computer Systems announced the appointment of Mr Frank Khoshnoud as Senior Vice-President and Head of manufacturing, retail and distribution business. He would be responsible for expanding and fortifying Patni's business for the MRD vertical, the firm said.
Source : 13-05-10 Business Standard Compiled by Amresh Anjan
BA Crew To Strike Cabin crew at British Airways (BA) PLC announced plans to go on a strike for a total of 20 days in May and June. The airline warned that the unprecedented scale of the walkouts over a 23-day period would cause "extensive disruption for potentially hundreds of thousands of customers over a busy period."
Source : 11-05-10 ibnlive.comCompiled by Amresh Anjan
Bahwan CyberTek Gets New COO Mr VM Muralidharan has been appointed as Bahwan CyberTek (BCT)'s Chief Operating Officer. He will be steering the BCT business globally and spearheading the sales and marketing strategies, according to a release.
Source : 12-05-10 The Hindu Compiled by Amresh Anjan
Mr Itagi Appointed As Director Of Hitachi Data Hitachi Data Systems Corp, a wholly owned unit of Hitachi, has named Mr Rajesh Itagi as director of services sales for India. He will be accountable for driving revenues and supporting the field sales teams and positions the company's board spectrum of professional services offerings.
Source : 14-05-10 The Financial Express Compiled by Amresh Anjan
NCR Corp Gets A New MD Mr Jaivinder Singh Gill has been appointed as managing director of NCR Corp India. He brings to the company over 19 years of experience in sales and business management with leading multi-national companies from the information techonology (IT) and financial services sectors.
Source : 14-05-10 The Financial Express Compiled by Amresh Anjan
Discovery Promotes Mr Bakshi Discovery Networks Asia Pacific, a division of non-fiction media company Discovery Communications, has elevated Mr Rajiv Bakshi to the position of vice-president – marketing for India region. He would now be responsible for creating and implementing strategic marketing initiatives for Discovery's entire portfolio of six networks in India.
Source : 14-05-10 The Financial Express Compiled by Amresh Anjan
USL Appoints Two Independent Directors On Its Board United Stock Exchange (USL) has got on board two independent directors, Mr Arun Ramanathan, former union finance secretary and Mr Dipak Chatterjee, former union commerce secretary.
Source : 14-05-10 The Financial Express Compiled by Amresh Anjan
CSC Names A New MD And President CSC has appointed Mr Brian J. Manning as president and managing director of CSC in India with effect from April 1. Prior to this, he was vice-president, Global Capbility Resource Centers (CRC) in CSC's managed services sector. In his new role, he will assume responsibility for all of CSC's operation in India.
Source : 14-05-10 The Financial Express Compiled by Amresh Anjan
Ma Foi Names New Chief Information Officer Ma Foi Randstad, an integrated HR services provider, has announced the appointment of Mr Radhakrishnan Krishnamurthy as its chief information officer (CIO). Before joining Ma Fai Randstad, he was Vice-President, Operations, and CIO at Krestas Systems.
Source : 14-05-10 The Hindu Compiled by Amresh Anjan
Three Indian Americans have appeared in the Forbes list of the highest paid CEOs of the 500 biggest US companies - PepsiCo's Ms Indra Nooyi, Quest Diagnostics' Mr Surya N. Mohapatra and Adobe Systems' Mr Shantanu Narayen. Ms Nooyi (93th) earned a compensation of USD 10.66 million, Mr Mohapatra (96th) got USD 10.29 million and Mr Narayen at 425th slot took home a pay packet of USD 1.88 million, the magazine said. Mr H. Lawrence Culp, the chief of the diversified manufacturing and technology firm Danaher, is at the top of the list with a total compensation of USD 141.36 mn.
Source : 02-05-10 ibnlive.in.comCompiled by Amresh Anjan
Small Firms From US, Europe On Their Way To India
After the large-cap multinationals, it is the turn of the small and medium enterprises (SMEs) of a size of around $500 million from US and Europe to come to India. Some of these companies are owned and run by families. These companies will head to India either for outsourcing or back-end operations, said Mr Shrinivas Rao, CEO of Asia-Pacific, Vestian Workplace Services. Some companies in the technology, clinical research, auto design and ancillary, and pharmaceutical sectors are consulting with Vestian, an occupier services company. It is currently helping seven-eight companies, especially in the clinical research space, set up offices in Bangalore and Chennai. These companies would need 20,000-25,000 sq.ft each and are going to hire about 10,000 highly skilled persons.
Source : 04-05-10 The Hindu Business Line Compiled by Amresh Anjan
Foreign Students Attracted Towards Internship Offers From Small Firms
A lot of overseas students are heading towards India to take up internships in Indian companies. But it is not only big names, including the Infosys and Tatas, which are attracting talent. Smaller companies are also becoming attractive for foreign students. A Pune-based IT company, Extentia is inviting youngsters from Europe, the US and the West Asia to its global internship programme. Foreign students have been competing with each other to work with this firm. IT giants such Infosys and Tatas have been running internship prorgrammes for a long time. Infosys has been doing the same for 10 years and Tatas have been doing the same since last four years. But a much smaller company like Extentia Information Technology too has been into it for the last eight years and has now built up its own fan following. The firm has had 80 interns from 10 countries – UK, Germany, France, Italy, US, Canada, Singapore, Egypt, New Zealand and Morocco.
Source : 07-05-10 The Financial Express Compiled by Amresh Anjan
Infy Pay Acknowledges Future Heads
Infosys, which had seen some top-level attrition last year, has embarked on a leadership development programme and trying to make sure those targetted are satisfied with their compensation. The company, which is gradually entrusting significant work such as handling of high-value clients and brand building to second-rung leaders, paid them salaries that beat those of even the founding team members during 2009-10. During the year ended March 31, Mr Ashok Vemuri, a member of the company's executive council and Senior Vice President heading the BFSI (banking, financial services and insurance) practice at Infosys, got Rs 4.61 crore (close to $1.3 million at an exchange rate of Rs 44.9) of salary. This meant that Mr Vemuri, a former investment banker, was given average monthly emoluments of close to Rs 34 lakh, compared with Infosys' MD and CEO Mr Kris Gopalakrishnan's monthly compensation of Rs 8.5 lakh. Likewise, Mr N R Narayana Murthy, co-founder and now chairman and chief mentor of the company, was given annual compensation of Rs 56.12 lakh. However, both Mr Murthy and Mr Gopalakrishnan, earn much more in terms of dividends, as they are significant shareholders in the company. Mr Gopalakrishnan said the company was trying to fill the vacuum created by the exit of top executives, including a co-founder, MR Nandan Nilekani, by handing over critical jobs to a new generation of leaders, mostly from the company's executive council.
Source : 07-05-10 Business Standard Compiled by Amresh Anjan
Top Level Movements Witnessed In Govt Institutions
UCO Bank Chairman and Managing Director Mr SK Goel is all set to take over as the new chairman of India Infrastructure Finance Company (IIFCL). According to the sources close to the development, the appointment of Mr Goel, whose term at the Kolkata-headquartered bank was due to end in a couple of months, had been approved by the government and a notification was expected shortly. He is going replace Mr SS Kohli, whose extended term at the infrastructure finance company came to an end last month. The financial institution's Executive Director Mr Pradeep Kumar is, at present, officiating as the chairman and managing director. The sources also revealed that at least two other appointments were being finalised by the government. Mr RV Verma, executive director at National Housing Bank, is the likely victor for the post of chairman at the refinance and housing finance regulatory agency. The government has begun the process of appointment afresh due to problems in the first round. For a year, Central Bank of India Chairman and Managing Director Mr S Sridhar has been officiating as NHB chairman. Other than that, sources said a notification regarding the appointment of IDBI Bank Chairman and Managing Director Mr Yogesh Agarwal as the pension regulator was expected soon. His appointment has been approved by the government.
Source : 04-05-10 Business Standard Compiled by Amresh Anjan
Hyundai Reinstates Its Two Dismissed Employees
A group of employees of Hyundai Motor India Ltd, who were dismissed earlier on disciplinary grounds, approached the company for a direct settlement. The company started negotiations with them and so far it has resolved the issue with two employees and the process is underway with another 20 employees. Under the settlement, all dismissed employees will get their statutory dues and ex-gratia payment, said Hyundai in a statement.
Source : 04-05-10 The Financial Express Compiled by Amresh Anjan
Staff Union Of AI Threatens Stir
The Air India staff union has said that it will take 'industrial action' if the management did not reinstate 23 cabin crew, who were derostered over the last month's Cairo flight delay episode. The crew reported seven hours late on duty. As a result, the flight operated via Cairo in view of the aerospace closure in Europe owing to volcanic ash, was delayed by 16 hours.
Source : 07-05-10 Business Standard Compiled by Amresh Anjan
Goldman Shelled Out $5.5 Billion To Its Staff In Salary And Bonuses
Goldman Sachs, which is being probed by the US and the UK authorities for its role in the financial slowdown, gave out $5.5 billion to its London staff in salary and bonuses last year. The payouts equate to an average of $ 1 million each, which is almost twice as much as the average pay across the rest of the group.
Source : 03-05-10 The Financial Express Compiled by Amresh Anjan
Intelenet To Appoint 7, 000 Personnel
With the IT industry expected to expand by 15-20 percent on the back of an improving global economy, leading BPO service provider, Intelenet Global Services (Intelenet), plans to expand its footprint overseas and hire around 7, 000 personnel this financial year, according a top company official.
Source : 03-05-10 Business Standard Compiled by Amresh Anjan
ICICI Bank To Recruit Up To 7,000 Staff This Fiscal
ICICI Bank said that it plans to hire up to 7,000 this financial year. "We plan to hire around 5,000-7,000 people this fiscal. We have also declared bonus and increments for our employees," ICICI Bank managing director and CEO Ms Chanda Kochhar said after inaugurating 2,000th branch of the largest private sector bank in Mumbai. The bank has become the first private sector bank to reach this milestone, giving it a wide distribution reach in the country, Ms Kochhar said.
Source : 03-05-10 livemint.comCompiled by Amresh Anjan
RBI Overhauls Promotion And Appraisal System
Reserve Bank of India is going in for a complete overhaul of its promotion and appraisal system, a first in the bank's 75 years of experience. The bank is bringing in transparency in the performance appraisal system of its officers by allowing them to review their reports. In fact, it has also decided to put in place a mechanism to redress employee grievances. For this, it has set up a redressal mechanism to hear appeals from officers on communication of the entries made in their performance appraisal reports. Now, an unsatisfied officer can appeal against the marks awarded and also the remarks in the report made by his superiors within 15 days.
Source : 03-05-10 Business Standard Compiled by Amresh Anjan
AI Names New COO
Captain Gustav Baldauf, who previously held a senior post with Austrian Airlines, has now been appointed as Air India's Chief Operating Officer. For the first time, the national air carrier has appointed a COO in the company and also a first for a foreign national to assume the post, according to sources.
Source : 07-05-10 Business Standard Compiled by Amresh Anjan
HCL Names New President For Business Services
HCL Technologies has appointed Mr Rahul Singh as President, Business Services and Corporate Vice-President. He will be responsible for driving growth in the BPO and Business Services division globally including all the acquired entities, according to a company release.
Source : 04-05-10 The Hindu Business Line Compiled by Amresh Anjan
Mr Bhatia Named As MD Of Bofa-Merill Lynch's MD For Corporate And Investment Banking For India
Mr Asit Bhatia is going to join Bank of America-Merrill Lynch as managing director for corporate and investment banking for India. He will be responsible for coverage of select clients in India and will work with the investment banking, global markets and corporate banking teams. Till October 2009, he spearheaded the corporate coverage team at Bank of America in India and was responsible for marketing, origination, execution and delivery of select corporate and investment banking products to a client base consisting of large local and multinational companies.
Source : 04-05-10 Business Standard Compiled by Amresh Anjan
Audi India Names New Marketing Head
Audi has announced the appointment of Mr Clemens Ollmert as Head of Marketing and Mr Gerhard Pretorius as Head of After Sales. Mr Ollmert, 38, takes over from Mr Martin Birkner as Head of Marketing. Audi India has structured five main departments: Marketing (Head: Mr Clemens Ollmert), Sales (Head: Mr Anil Reddi), After Sales (Head: Mr Gerhard Pretorius), Dealer Network (Head: Mr Rishi Goel) and Press Communication (Head: Metabelle Lobo) directly reporting to the Managing Director, Mr Benoit Tiers.
Source : 03-05-10 Business Standard Compiled by Amresh Anjan
NCR India Appoints New MD
NCR Corporation has appointed Mr Jaivinder Singh Gill as its new managing director of India. He has more than 19 years of experience in sales and business management with leading multi-national companies from the information technology and financial services sector.
Source : 07-05-10 The Hindu Compiled by Amresh Anjan
Mr Anand Mahindra Appointed As Mahindra-BAE Chief
Mahindra Group's Vice-Chairman, Mr Anand Mahindra has been elected as chairman of Defence Land Systems India, a Mahindra and BAE Systems joint venture company. The inaugural board meeting declared the Jr operational and also appointed BAE Systems' managing director international operating group Mr Guy Griffiths as Vice-Chairman of the joint venture's board.
Source : 05-05-10 The Financial Express Compiled by Amresh Anjan
Citigroup Appoints Mr Sunil Nair As India Private Equity Business Head
Mr Sunil Nair has been appointed as head of Citigroup's private equity business in India, the US bank said in a statement. Mr Nair, who is currently the head of Citi's international venture capital investment activities in Central and Eastern Europe, the Middle East and Africa, will assume the additional charge of India with immediate effect, it said.
Source : 03-05-10 DNA Compiled by Amresh Anjan
Mr Jayakar Krishnamurthy Appointed As CMD of Ucal Fuel
Mr Jayakar Krishnamurthy has been elevated as Chairman and Managing Director of UCAL Fuel Systems (UFSL). As per a release, Mr. Krishnamurthy took over the position from Mr S.Muthukrishnan, who was chairman of UFSL since August 1987.
Source : 05-05-10 The Hindu Compiled by Amresh Anjan
Three Senior ICICI Venture Officials Resign
Three senior officials of ICICI Venture have stepped down from the company. The three officials are Mr Jayanta Banerjee, president, Mr Sunay Mathure and Mr Anand Vyas, directors. An ICICI Venture spokesperson confirmed the resignations. "They have resigned," he said. Though he did not say why they resigned, it is speculated that the three may set up their own private equity fund.
Tips for how hiring managers should act in interviews
There is so much written for the job candidate about how to behave in an interview. What you don't see very often are tips for how the hiring manager should act during an interview.
Ironically, many of the same principles apply. The person doing the interview should behave and be just as prepared as the person he or she is interviewing. Sit up straight, practice eye contact, be friendly and be prepared with appropriate questions that speak directly to the job.
Unfortunately, this is not always the case. I'm sure all of us have our share of horror stories about an interviewer who was unfocused or disinterested, dominated the interview by doing all the talking, or even asked illegal questions.
I once had an interview with a guy whose first question for me was, "So, what do you know about me?" Not about the company, mind you, but him. Since it was not a job being his PR agent, I took that question as a bad sign.
If part of your job is to interview job candidates, here's some advice for how to conduct yourself during the interview.
Have the person's resume in front of you. I'm not sure of any reason you wouldn't but I've seen it happen. This is not a firing squad you're overseeing. You're there to ask questions relevant to the person's experience. Have the decency to show the person that you've made an effort to look at the document he or she has worked hard to create.
Can the high and mighty attitude. I've seen it too many times. The "power of the hire" goes to managers' heads faster than anything. But look, this is a two-way street. You're there to find someone who is going to fill a staff need and the folks you're interviewing are there to find a job and a company that fits their skills and needs. Respect the reciprocal nature of the interview.
Don't purposefully lob tough questions just because you can. Nothing productive comes from making a job candidate squirm.
Refrain from cattiness. In the course of explaining to a job candidate the ins and outs of the company structure, you may have wanted to blurt out something like, "But you'll find out he's totally useless." I shouldn't have to say this, but please don't speak ill of your co-workers or other departments or end-users in an interview.
Don't monopolize the interview. Again, this is a two-way street. Your organization and your personal career within it might be interesting to you (and your mom), but unless you allow the job candidate to talk about his background, you're really not getting anywhere are you?
Don't ask illegal questions. It is illegal to ask a job candidate about any of the following:
