Indians Buoyant On Jobs: Survey According to the latest Nielsen Global Consumer Confidence survey, Indians are most optimistic globally about their job prospects for the next one year, although their confidence levels over their country's economy and spending has not increased in third quarter of 2010. At 129 index points, consumer confidence in India is highest, which is twelve points ahead of the second highest country Thailand which has 117 index points in the Q3 2010 survey. The findings of the survey are based on the results of polling conducted on 26,000 consumers across 53 countries.
Source : 02-11-10 The Financial Express Compiled by Amresh Anjan
US President Looks To India To Warm U.S. Job Market US President Mr Barack Obama, in a speech at a summit of U.S. and Indian executives in Mumbai, stressed that a key part of his visit to India's commercial capital was about American jobs. "As we look to India today, the United States sees an opportunity to sell our exports in one of the fastest-growing markets in the world," said Mr Obama, who brought with him a delegation of some 200 American business leaders. Mumbai was the first stop on his 10-day trip to Asia. He is looking for trade openings for U.S. businesses that could ultimately translate into more jobs in the U.S.
Source : 06-11-10 npr.org Compiled by Amresh Anjan
Air India's Recent Hires Come Under Govt Scrutiny Even as it fights to deal with its Rs 40,000 crore debt, Air India has been hit with new troubles after its top hires from the private sector have come under intense scrutiny by the government. The airline is likely to see the exit of the newly appointed Air India Express chief operating officer (COO) Mr Pawan Arora. "We have asked the airline to reconsider the decision and sought a termination of Mr Pawan Arora," said an official in the civil aviation ministry. However, Air India's top management has decided to take on the civil aviation ministry and defend the appointment of Air India Express Chief Operating Officer (COO) Mr Pawan Arora.
Source : 02-11-10 livemint.com Compiled by Amresh Anjan
Staff At GM's Halol Plant End Their Strike The agitating workers at General Motors' Halol plant in Gujarat (near Vadodara) called off their strike, with the company agreeing to address the wage revision issue within a month. A worker at the plant said, "We do not want to create a negative environment for the industry here." The company claimed the workers had resumed work unconditionally. Mr P Balendran, director and vice president, corporate affairs, maintained, "All the workers are back on work and both the shifts are operational. We will discuss about their demand of a wage revision."
Source : 03-11-10 sify.com Compiled by Amresh Anjan
RBI To Come Up With CEO Compensation Norms By December The Reserve Bank of India (RBI) announced that it will issue final guidelines that would give a framework to regulate salaries of the chief executive officer and other top executives in private and foreign banks. "It is proposed to issue final guidelines on compensation practices by end-December 2010," the bank said in its second quarterly monetary policy. In July, the RBI had issued draft guidelines for compensation of executives in private sector banks and foreign banks, in line with initiatives taken by the G-20 group of nations. The guidelines cover effective governance of compensation, alignment of compensation with prudent risk-taking and disclosures for whole time directors and CEO, risk takers of banks as well as staff in the audit, compliance and risk management functions.
Source : 02-11-10 Hindustan Times Compiled by Amresh Anjan
Beware Of Variable Pay The slowdown is gradually becoming a far-away memory with the job market blooming again. But what's happening on the compensation front? According to experts, it's foolish to wait for hefty hikes in the fixed portion of your pay as of now. Companies will offer that dream salary, but a large percentage of it will be the variable component. This means your pay hike will be meaningful only if your and your company's performance matches or beats expectations. "The variable component will keep increasing as firms want to induce accountability in their workforces," said Mr Ronesh Puri, managing director, Executive Access, an employee search firm. He added that the trend is getting increasingly visible in the IT, BPO, retail and insurance sectors, particularly in the sales domain.
Source : 02-11-10 DNA Compiled by Amresh Anjan
IT Majors Devise New And Innovative Employee Retention Strategies With the job market getting back on track, IT giants' human resource divisions are coming up with innovative strategies to retain employees. The list includes improvised promotion cycles, creating career architecture programmes, monetary gains, travel benefits and intellectual growth. IT major, Infosys is offering space to experiment and career soul searching to keep employees interested. This idea is also working well for multinationals, including Google, who feel that offering flexibility and freedom of movement across projects have kept employees glued. "We try to get employees to spend 20% of their time on projects other than their primary ones. This encourages innovation in product development and foster inter-team communication," said Ms Jayashri Ramamurti, head-people operations, engineering & product, Google India.
Source : 02-11-10 in.biz.yahoo.com Compiled by Amresh Anjan
English Speaking IITians Required Graduating batches at the Indian Institute of Technology, Bombay (IIT-B) have been taking rigorous seven-minute oral tests that have nothing to do with what they have studied in class. Their English language and comprehension skills are being evaluated. After staffing companies complained about poor language skills among students, the placement office at the institute has hired an agency to evaluate the English proficiency of the 1,300 students who will be up for placements this year. IIT-Madras and IIT-Kharagpur have also adopted similar tests for their students. "We took a poll among the students and most of them said they would have liked to undergo the evaluation at an earlier stage in their course," said Mr Ravi Sinha, head of the placement office. While about 300 of them have excellent language skills, 500 have poor language skills, rest of the students fall somewhere in between.
Source : 01-11-10 Hindustan Times Compiled by Amresh Anjan
PSU Chiefs Asked To Work On CSR For Better Pay Salary package of a PSU chief can vary up to 300% depending on the performance in hitherto neglected areas of corporate social responsibility, R & D and sustainable development from this year, a top official revealed. On the performance appraisal scale of 100, the three important areas will account for 15 out of the 50 marks allocated to non-financial parameters, according to the guidelines of the department of public enterprises (DPE). DPE secretary Mr Bhaskar Chatterjee said, the 15 marks will make a difference of 'Heaven and Earth' in the performance related pay (PRP) structure for the top management of 213 functional PSUs. "We have introduced the PRP system under which you take home your basic salary. But if you perform well (on all counts including R & D, CSR and sustainable development) you get 100% more; if you perform very good, you get 200% more and if your performance is outstanding, you will get 300% more," Mr Chatterjee added.
Source : 01-11-10 The Financial Express Compiled by Amresh Anjan
Salaries Of Sebi Employees May Get Doubled Diwali seems to have brought in good news for the staff of market regulator Sebi, which has proposed raising their salaries by a huge margin and that too retrospectively with effect from November 2007. The proposed pay hike would result in additional annual payout of Rs 14.46 crore, while the senior level officers could be the biggest beneficiaries by way of more than 90% increases in their emoluments, sources revealed. Securities and Exchange Board of India (Sebi) had more than 600 employees at the end of the last financial year, which included nearly 500 officers of various ranks and remaining secretaries and other support staff.
Source : 01-11-10 The Financial Express Compiled by Amresh Anjan
Payrolls Gain Is First In Five Months In US For the first time in five months, employment in the U.S. rose in October, a sign that businesses may be starting to gain confidence in the prospects for a faster pace of growth. Payrolls reached 151,000, exceeding all estimates in a Bloomberg News survey of economists and following a revised 41,000 drop the prior month that was smaller than initially estimated, Labor Department figures showed.
Source : 05-11-10 businessweek.com Compiled by Amresh Anjan
Mumbai Campuses Upbeat On Placements As campuses in Mumbai gear up for final placements, the mood among the students is quite upbeat. A significant increase in the number of pre-placement offers (PPOs) and pre-placement interviews (PPIs) across institutes signify a very healthy hiring season ahead. At the Jamnalal Bajaj Institute of Management Studies (JBIMS), out of 114 students who have opted for final placements, the institute has already got PPOs and PPIs for 30 students. The offers have come from companies where the students recently completed their summer internships. The offers have come from different sectors and the biggest chunk is from BFSI (banking, financial services and insurance), investment banking and consulting sectors (around 50%) and fast moving consumer goods or FMCG (33%). The other sectors include manufacturing (10%) and information technology (7%). At the Indian Institute of Technology (IIT), Bombay, the number of PPIs and PPOs has gone up compared to preceding years.
Source : 05-11-10 DNA Compiled by Amresh Anjan
Geeks Are No Less! A survey by the NGO Centre for Transforming India has found signs of rampant sexual harassment of women employees even in the refined, knowledge-driven environs of the Indian information technology and information technology-enabled services (IT/ITES) industries. The survey revealed that: 88% of women have been sexually harassed by male colleagues, 50% of them faced 'extreme' harassment, 82% women said that such incidents occurred outside office premises, 72% of them said perpetrators were their superiors at work, about 91% females feared being victimized if they reported the matter and, strangely, 47% of them didn't know how to report the incident. This shows that even though most IT/ITES companies have some kind of mechanism for dealing with such offences, large numbers of female employees are not aware of them and the guidelines too are not strictly followed.
Source : 04-11-10 Hindustan Times Compiled by Amresh Anjan
Mr Apul Nayyar Appointed As CEO Of Future Capital Future Capital Holdings (FCH), a listed company engaged in providing financial services, has named Mr Apul Nayyar the CEO of retail financial services. He was previously with Citigroup, Merrill Lynch and India Infoline.
Source : 04-11-10 The Hindu Compiled by Amresh Anjan
Lloyds Appoints Santander's Mr Horta-Osorio CEO Lloyds Banking Group Plc, Britain's biggest mortgage lender, announced the appointment of Mr Antonio Horta-Osorio as chief executive officer. The Portuguese national will replace Mr Eric Daniels as Lloyds CEO on March 1, the London-based lender said.
Source : 03-11-10 bloomberg.com Compiled by Amresh Anjan
Government of India Names Mr M Narendra As Chairman & MD of Indian Overseas Bank Indian Overseas Bank has appointed Mr M Narendra (executive director, Bank of India) as chairman and managing director of the bank with effect from the date of his taking over charge of the post i.e. 01 November 2010. Besides, Mr S. A. Bhat ceased to be the chairman and managing director of the bank with effect from 31 October 2010.
Source : 01-11-10 indiainfoline.com Compiled by Amresh Anjan
DMA And IBA Announce The Second Mega HR Conclave DMA with IBA announces the 2nd Mega HR Conclave and the biggest ever gathering of HR professionals "3G Innovative HR Practices" on 18th November 2010 at Hotel Radisson Suites, Sushant Lok-1, Gurgaon. For registration and programme details, kindly contact Dr. Ekta Saxena on +919911941090 or mail her megahrconclave@gmail.com or visit www.megahrconclave2010.20m.com.
Source : 07-11-10 naukri.com Compiled by Amresh Anjan
IIM-A Strategic Simulation Workshop For Hi-Performance Middle Managers IIM Ahmedabad's golden jubilee celebrations, Confluence 2010, the premier management institute's biggest business conclave, is conducting a strategic simulation workshop during Nov 26-28, 2010 for middle level managers. The workshop is focused on understanding cross-functional integration of decision making skills and business impact. It will be anchored by Prof. Chetan Soman, IIM A, and other IIM faculty and alumni, and will provide a real life feel of integrated management by combining the soft skills of leadership, people management and communication, with the hard skills of planning, forecasting, marketing, finance, and operations. For more details on the programme, please visit http://www.iimaconfluence.com/downloads/IIMA_SSW.pdf or http://enparadigm.com/wp-content/uploads/2010/11/PressRelease.jpg.
Source : 07-11-10 naukri.com Compiled by Amresh Anjan
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