Survey Predicts 13% Salary Rise This Year Salary rise of Indian employees would be among the highest in the world in 2011. According to a survey by global HR consultancy group Aon Hewitt, salary rise in India for 2011 is projected to be around 12.9 per cent higher than those received in 2010, which were at 11.7 per cent. Also, the double-digit salary increases would continue for the next couple of years and is expected to be 12-15 per cent across industries, the survey says. India is followed by China and the Philippines, which have salary rise projections of nine per cent and seven per cent, respectively. The findings mirror the optimism of the country with the GDP poised to grow at an above target of nine per cent, the survey says. According to the survey, engineering services, automotive, energy and infrastructure industries, which rely heavily on domestic investment and consumption, top the salary increase charts for the second year in a row.
Source : 10-03-11 Business Standard Compiled by Amresh Anjan
Ex-Raymond President joins OCM India Textile firm OCM India announced the appointment of Mr. S K Singhal as the new Chief Executive Officer of the company. The company, which is owned by US-based global private equity firm W L Ross announced that Mr. Singhal has joined OCM after a 30-year stint with leading textile firm Raymond. Mr. Singhal was heading the entire textile business of Raymond as the President (Textiles), where he oversaw the expansion of the firm's manufacturing facilities, the near doubling of the textile division's topline, transition to SAP and expansion of retail networks.
Source : 11-03-11 Indian Express Compiled by Amresh Anjan
TCS Rocks Indian BPO King Genpact Throne The frontrunner in the Indian BPO sector, Genpact, has reason to worry. The country's largest software exporter, Tata Consultancy Services, is fast catching up, with strategic acquisitions, strong patronage by its backbone IT business and big-ticket deals shrinking the BPO revenue gap between the two companies. That gap was $471 million in calendar year 2008 and has now narrowed to $226 million. While the TCS BPO unit has posted a three-year compound annual growth rate of 40% since 2007, Genpact's BPO business' CAGR for the same period is 20%.
Source : 10-03-11 Indian Express Compiled by Amresh Anjan
Makeover For Engineering PG Curriculum Soon A fresh curriculum awaits engineering students joining their post-graduate academic programmes this June. The revision — which comes after a gap of 10 years – will be in line with the international best practices and will have increased focus on research. The curriculum will incorporate courses in research methodologies and experimental methods, along with design and analysis. Experimental methods will include students validating their theories and postulates.This move is seen as an attempt to improve the quality of engineering at the post graduation level in the country by changing the approach towards teaching the subject at the post graduate level.
Source : 10-03-11 Financial Express Compiled by Amresh Anjan
FOX New Chief Urged Employee To Lie It was an incendiary allegation and a mystery of great intrigue in the media world as the publishing house Ms Judith Regan was fired by Harper Collins in 2006.She claimed that a senior executive at its parent company, News Corporation had encouraged her to lie two years ago to the federal investigators who were vetting Bernard B Kerik for the job of homeland security secretary.
Source : 26-02-11 Business Standard Compiled by Amresh Anjan
AOL To Slash 900 Jobs In India, US Former internet giant AOL is to slash 700 jobs in India and a further 200 in the US in the wake of its $315 million deal to buy the Huffington Post news site. The staff in India generally provides back-end support for AOL's network, and 300 of the cut positions jobs will be outsourced. The US redundancies will come from the company's content and technology departments. The job cuts underscore the transition AOL is undergoing as it seeks to reinvent itself as a premier content company. AOL once dominated internet access in the US, but its position began to slide with the growth of broadband soon after its disastrous 2000 mega-merger with Time-Warner and AOL was spun off from the media giant in 2009.
Source : 11-03-11 SIfy.com Compiled by Amresh Anjan
Bangladesh Business Chambers Pledge Jobs To Arab-Returnees Bangladesh's business chambers have pledged jobs for thousands of workers being repatriated from Arab countries in an effort to ease the blow to the economy that has workers' remittances as a major earning source. Pledges were made by leaders of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Thursday as a plane brought back home bodies of four workers who had drowned on Greek shores in a bid to escape being brought home. Bangladesh has millions working across nations in the Middle East and Northern Africa. Last year, the expatriates remitted $11 billion to Bangladesh, of which $100 million came from Libya.
Source : 11-03-11 sify.com Compiled by Amresh Anjan
Hero Group Appoints Wolf Olins India's largest two wheeler maker Hero Honda Motors Ltd (HHML) has announced that it has roped in global brand and innovation specialist, Wolff Olins to create a new identity after the exit of Honda from the joint venture. The company is working on a new brand identity in its totality. This includes the brand architecture, brand name, brand logo and brand positioning.
Source : 11-03-11 Financial Express Compiled by Amresh Anjan
Samsung India Appoints New CMO South Korean technology giant Samsung India announced the appointment of Mr. Elkana Ezekiel as its Chief Marketing Officer. Mr. Ezekiel was earlier with Johnson and Johnson as VP- Marketing and looked after the company's marketing and brand strategies across 15 countries in Asia Pacific.
Source : 11-03-11 Hindustan Times Compiled by Amresh Anjan
Not Enough Skilled Personnel Taking Mining Jobs, Says CII The Confederation of Indian Industry has said the Indian mining sector would face a shortage of skilled personnel of up to 2,200 people over the next decade and a half. The sector contributes around three per cent of Gross Domestic Product and employs around 900,000 people. Based on the estimated demand and the current supply from various educational institutes, a demand-supply gap of around 1,500 is expected during 2009-2017 (short term) and 2,200 during 2009-2025 (long term).The report projects the human resource requirement after mapping available employment and identifying skill gaps.
Source : 14-03-11 Business Standard Compiled by Amresh Anjan
Firms Outsourcing Entire Hiring To Private Recruiters With all-time high attrition rates and shortage of skills making companies go into a hiring mode, recruitment process outsourcing (RPO) services are gaining popularity in India. Companies such as MphasiS, Wipro, Accenture and others are outsourcing a big chunk of their hiring process to recruitment services vendors to bring in more efficiency, both in terms of candidate appraisal and costs. It also helps them cut overall recruitment time. Typically, an RPO deal starts with the service vendor first receiving the requirement from clients. The same is discussed with the technical managers and the requirement is broken into primary, secondary, mandatory and preferred skills.The next step involves the client evaluating the technical competency of the vendor's panel members to give the final nod. Once this is done, the process of sourcing, short listing and scheduling of candidates for telephonic interview is initiated. The conversation is then recorded and the interview valuation sheet is collected along with call-transcript. Finally, the candidate profile, evaluation sheet and the recording is shared with the client and the schedule of the shortlisted candidate is prepared for the final technical round of discussion. This is followed by the HR round with the client to complete the hiring process. The RPO partner has access and is expected to comply with all internal tools and process, including employee referrals of its customer.
Source : 08-03-11 DNA Compiled by Amresh Anjan
General Motors CFO Chris Liddell to leave company General Motors Co announced that Chief Financial Officer Chris Liddell will leave the U.S. automaker a little more than a year after joining. Mr. Liddell, 52, will leave GM on April 1. He joined the company in January 2010 and led its financial and accounting operations on a global basis. Mr. Dan Ammann will succeed Mr. Liddell as CFO. The 38-year-old executive, who joined GM in March 2010, is currently vice president, finance and treasurer.
Source : 12-03-11 Financial Express Compiled by Amresh Anjan
Indian IT To Add 230,000 Workers in 2011: Deolitte The Indian IT industry will add over 2.3lakh employees in 2011 and will clock revenues of $72 billion by the end of the year, as per consulting firm Deolitte. The report released by Deolitte also added that revenues from the IT and BPO industry will account for 5.8% of country's gross domestic product (GDP).
Source : 14-03-11 Hindustan Times Compiled by Amresh Anjan
XLRI Ties Up With Santa Clara University To Promote Entrepreneurship The XLRI School of Business & Human Resources has signed a memorandum of understanding (MoU) with California-based Santa Clara University (SCU) to promote and foster social entrepreneurship in the country.The two institutes have decided to collaborate whereby XLRI is to be the Indian partner to manage and support Global Social Benefit Incubator (GSBI), the signature programme of the Center for Science, Technology & Society (CSTS) of Santa Clara University. Each year GSBI screens and selects around 15-20 social ventures from across the globe and incubates them by providing technical inputs, mentoring support and some grants to make them investor-ready. Since its inception in 2003 there have been about 30 GSBI alumni social ventures in India, which include some of the globally well-known organisations such as Gram Vikas, Jaipur Rugs, Drishtee, Mother Earth, Husk Power Systems, Video Volunteers, Naandi Foundation, etc.
Source : 14-03-11 Financial Express Compiled by Amresh Anjan
Rising Trend In Staff Spend Public Sector Undertakings' (PSUs) staff spends increased by 15.6% during April-December 2010. This is revealed in a study of 53 PSUs (central and states, but excluding banks and NBFCs) for the periods, April-Dec 2010 and April-Dec 2009.The higher staff cost (R30,883 crore) in the current financial year comes against the backdrop of a 5.3% fall in employee expenditure in April-Dec 2009 to R 26,705 crore. The total expenditure of these PSUs was also higher this year—up 21.6% to R 6.84 lakh crore—compared to an 18.8% decline to R5.62 lakh crore during April-Dec '09. The staff cost-to-total expenditure and staff cost-to-sales increased from 4.07% to 4.51% and 3.75% to 4.01%, respectively, for the nine-month period in the last two years. Among the PSUs, the highest increase in staff cost was seen at Gujarat State Petronet, where it rose 105.7% during April-Dec '10 from a negative 15.7% during April-Dec.
Source : 14-03-11 Financial Express Compiled by Amresh Anjan
Income Tax To Make Staff Work Less Taxing In a bid to reduce the burden on officials, the Income Tax Department is planning to outsource record management to private entities. Under the proposal, a private party will handle the department's records, including returns and those pertaining to tax disputes. The main task of the private player will be to maintain records of income tax returns filed manually and management of records pertaining to scrutiny cases and tax disputes at various levels. Department officials will oversee the work. A central team will look after the implementation of record management and local teams at different commissionerates will operate at the ground level. It will be an assembly line system, with I-T officials working as the front office.
Source : 14-03-11 Business Standard Compiled by Amresh Anjan
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