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| Good News For Employees Of Public Sector Banks |
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| Employees of public sector banks (PSBs) could soon get incentives to perform better and acquire new skill sets. A government committee has suggested 15-20% variable component in their remuneration, along with the removal of the existing upper limit for their salary package. The committee has also pitched for a hike in retirement age to 62 years from the current 60, sources in the committee said. The proposals are aimed at infusing a greater degree of professionalism in the banking industry of India, which is on the verge of a makeover with the slow and steady globalisation of the financial sector. |
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| Source : 04-06-10 The Financial Express Compiled by Amresh Anjan |
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| Share Of Minorities In Government Jobs Rises |
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| According to the latest data by government, the share of minorities — including Muslims — in government jobs is rising steadily on the back of the Prime Minister's 2007 directive to focus on their employment. In the last three years, there has been a significant rise in government recruitment of minorities: 6.9 per cent in 2007 to 8.3 per cent in 2008 and 9.24 per cent last year. Between '08 and '09, the share of minorities on government jobs increased 24 per cent. The directive in 2007 came after the Sachar Committee, which probed the disadvantages faced by Muslims — who make up more than 85 per cent of India's minority population — found the community lagging on various socio-economic parameters. |
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| Source : 03-06-10 Hindustan Times Compiled by Amresh Anjan |
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| Per Capita Income Increases By 10.5% In FY10 |
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| The per capita income increased by 10.5% to Rs 44,345 in 2009-10 against Rs 40,141 in the year-ago period, as per the government data. The per capita income was a little higher than Rs 43,749 as calculated by the Central Statistical Organisation (CSO) in its advance estimates for FY10. However, per capita income grew by 5.6% last financial year if it is calculated on the basis of 2004-05 prices, which is a better way of comparison. |
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| Source : 30-05-10 DNA Compiled by Amresh Anjan |
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| Michelin Plans To Increase Its Headcount In India |
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| Michelin, French tyre major, said it will recruit about 200 people in India this year as it gears up to start production from its Chennai plant in the next two years. "Our goal is to hire a little less than 200 people this year. They will be sent to Thailand for a three-week course once they come on board with us, after which they will be assigned to one of our overseas facility till the plant in Chennai becomes operational," Michelin President (Africa, India and Middle East) Mr Prashant Prabhu said. |
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| Source : 02-06-10 Business Standard Compiled by Amresh Anjan |
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| British Airways And Its Union Resume Talks |
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| British Airways management and union leaders resumed talks in an attempt to end a dispute over pay and working conditions. Negotiators for BA and the Unite union have met several times, but there has been little sign of a breakthrough in the bitter dispute. Cabin crews of the airline walked out for seven days in March and they have worked only one day since a current strike period began May 24. As a result, BA had to cancel hundreds of flights during a busy vacation period. |
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| Source : 02-06-10 Business Standard Compiled by Amresh Anjan |
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| Jet Airways To Hike Salaries Of Its Employees Soon |
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| Private carrier, Jet Airways may bring in some cheer amid the ongoing tension in the airlines arena. After missing pay hikes and promotions last year, the airline's staff are all set to receive their due very soon. CEO, Mr Nikoss Kardassis said that 8,000 of the airlines' staff will get title and salary hikes on a case-to-case basis, soon. |
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| Source : 31-05-10 The Financial Express Compiled by Amresh Anjan |
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| Aditya Birla Minacs To Hire 1, 500 People This Year |
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| Aditya Birla Minacs (earlier Transworks), the BPO firm of the Aditya Birla Group and subsidiary of Aditya Birla Nuvo, is all set to hire over 1,500 people in 2010. The firm raised Rs 250 crore about 4 months back to fund its expansion plans including acquisitions and organic spread. "We are seeing increasing demand for outsourcing of insurance, claims, underwriting, procurement, financial accounting and other processes from firms in the US, Canada and India," Mr Deepak Patel, CEO of Aditya Birla Minacs, said. |
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| Source : 03-06-10 Hindustan Times Compiled by Amresh Anjan |
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| SBI Proposes Staff Incentives |
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| State Bank of India (SBI) is planning to provide incentives to its employees to check on its operating expenses, after being hit by the large quantum of expenses in 2009-10. "The plan is to tell the employees either to boost productivity with the current level of expenses or maintain current level of productivity with lower expenses... We will be adequately incentivising our staff for this," a top official of the company said, adding that the bank is also reviewing its operational processes and seeking decisions from professional experts. |
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| Source : 01-06-10 The Financial Express Compiled by Amresh Anjan |
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| Aegis Plans To Add 11,000 Employees To Its Portfolio |
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| Aegis Ltd, a BPO company from the Essar Group, plans to hire 11,000 people in the current fiscal, managing director and chief executive officer of the company, Mr Aparoop Sengupta said. "We see a huge demand across geographies for BPO services. The hiring is to meet the demand," said Mr Sengupta. In the meantime, looking at the crunch of people to manage customer experience management across sectors, the firm is looking to training and recruiting people. For this purpose, it has set up Institute of Customer Experience Management (ICEM) to train students specifically for the service industry (retail, banking, financial services and insurance, ITeS) focusing on the customer experience and customer lifetime value. |
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| Source : 20-05-10 DNA Compiled by Amresh Anjan |
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| US Labour Market Improves |
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| For the first time in more than two years, private sector employers added jobs in May and the economy's dominant services sector increased payrolls, building evidence that the labour market was picking up steam. New claims for unemployment insurance fell last week, leaving investors looking for more good news, when the government's employment report is expected to show the economy added the most jobs last month since September 1983. Private employers added 55,000 jobs last month, as per the ADP Employer Services report. According to the report, April's tally was revised upward to 65,000 from an initially reported job gain of 32,000. "I think these reports show the labour market is in fact stabilising. ADP was slightly weaker than expected but foreshadows a good number tomorrow," said Tempus Consulting (Washington) senior currency strategist, Mr John Doyle. |
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| Source : 04-06-10 Business Standard Compiled by Amresh Anjan |
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| Indian IT Companies Face Staff Crunch In Europe |
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| In spite of announcing grand hiring plans globally, Indian information technology (IT) firms are finding it difficult to fill hundreds of positions, especially in Europe where business in also down. India's two biggest IT firms: Tata Consultancy Services (TCS) and Infosys Technologies have announced plans to recruit 30000 people each, globally, in the financial year 2010-2011. However, according to Mr Mohandas Pai, member of the board and director-HR, education, research and administration, Infosys Technologies, sourcing of people in Europe is getting delayed if not difficult. "We are sourcing people in Europe. But these are time consuming and investment heavy processes. We are building capacity and infrastructure to source people in Europe," said Mr Pai. |
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| Source : 04-06-10 DNA Compiled by Amresh Anjan |
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| HP To Slash 9, 000 Jobs In 3 Years |
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| Hewlett-Packard (HP) plans to spend $1 billion to strengthen its corporate services business, and will shrink its staff by 3, 000 jobs a year over three years as it consolidates related operations. It aims to save $500 million to $700 million annually by the end of its 2013 financial year. |
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| Source : 02-06-10 Hindustan Times Compiled by Amresh Anjan |
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| Citi Appoints Mr Rajiv Nayar As India CMO Head |
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| Citi has appointed Mr Rajiv Nayar as the head of Capital Markets Origination in India, which deals with debt and equity transactions for the firm's clients in the country. Mr Nayar, who is currently the head of Citi's Capital Management Group for Asia Pacific, will report to Mr Ken Poon, head of Asia Pacific Capital Market Origination and Mr Ravi Kapoor, head of Global Banking India, according to a press release. |
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| Source : 03-06-10 DNA Compiled by Amresh Anjan |
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| Mr Vivek Sahai Is Railway Board Chairman |
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| Mr Vivek Sahai is the new Chairman of the Railway Board and ex-officio Principal Secretary to the Government of India, Ministry of Railways. |
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| Source : 01-06-10 Business Standard Compiled by Amresh Anjan |
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| Mr AK Balyan Named As The New Petronet LNG CEO |
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| Mr Ashok Kumar Balyan has been appointed as the CEO and managing director of Petronet LNG, the nation's largest liquefied natural gas importer. At present, director for human resources and business development in Oil and Natural Gas Corporation, he was selected for the top job by a panel consisting of the heads of the promoters of Petronet, a source said. |
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| Source : 31-05-10 Business Standard Compiled by Amresh Anjan |
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| Mr Luis Miranda To Step Down From His Role As IDFC's CEO |
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| Mr Luis Miranda, president and chief executive, IDFC Private Equity Co Ltd, will be stepping down from his role as the CEO. He would continue as the non-executive chairman from November 1, 2010. Dr Rajiv Lall, MD & CEO IDFC said, "In his new role, Mr Miranda will remain responsible for supporting investor and portfolio company relationships and providing guidance and counsel to the investment team and promoters/management teams." |
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| Source : 04-06-10 livemint.com Compiled by Amresh Anjan |
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| Sales Head Gets The Maximum Hike In Infosys |
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| Mr Subash Dhar, head of global sales, Infosys Technologies' has topped the salary hike chart for the second consecutive year. His overall compensation rose 36% to Rs 1.73 crore. Aided partly by deferred payments, his package had risen over 100% in the previous year. |
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| Source : 31-05-10 The Financial Express Compiled by Amresh Anjan |
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| Audi India Gets A New Head |
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| Luxury carmaker Audi announced the appointment of Mr Michael Perschke as its new head of India operations from July 1. Prior to this, Mr. Perschke was in-charge of the European Service Network Project of Audi AG. |
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| Source : 02-06-10 The Hindu Business Line Compiled by Amresh Anjan |
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| Thinksoft Global Names Mr Matthew Temares As Business Development Mgr |
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| Thinksoft Global, a financial software testing company, named Mr Matthew Temares as Business Development Manager for the US market. Mr Temares has 20 years of experience in selling financial software products. He will be responsible for mining activities in existing accounts and achieving higher revenue growth from sales in the region, according to the company. |
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| Source : 02-06-10 Business Standard Compiled by Amresh Anjan |
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| Carrier Chooses Mr Pandya as MD |
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| Mr. Gaurang Pandya has been appointed as the Managing Director of Carrier Airconditioning & Refrigeration Ltd. His appointment is effective from 10th May, 2010. The company Carrier India is a subordinate of the Carrier Corp, which is a part of the United Technologies Group. |
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| Source : 04-06-10 The Financial Express Compiled by Amresh Anjan |
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| CDC Software Corp Promotes Mr Prakasam |
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| Mr. Nagaraja Prakasam, MD of CDC Software's, India has been promoted as the MD for South and Southeast Asia regions. CDC Software Corporation is a hybrid provider of software applications and services. |
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| Source : 04-06-10 The Financial Express Compiled by Amresh Anjan |
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