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Unilever Closes Final Salary Pension Scheme News Food and household goods giant, Unilever has become the latest firm to announce plans to close its final salary pension scheme. The Anglo-Dutch business, which makes many global brands including Dove soap and Magnum ice cream, said it would begin a 90-day consultation with staff over the scheme. The scheme has 7,000 members. The scheme which has a £680 million deficit, stopped accepting new members in 2008.The final-salary pension scheme was once seen to be an attractive perk that came with joining a large company. Similar schemes at Asda, Northern Rock, Aviva, Taylor Wimpey and Tate & Lyle have been closed by the respective managements as they were found to be too expensive to run, given that employees nowadays live much beyond what actuaries had envisioned.
Source : 13-04-11 Domainb.com Compiled by Amresh Anjan
IT, Manufacturing In Talent Tug-Of-War If the slowdown meant the information technology sector's loss and the manufacturing sector's gain in terms of acquiring engineering talent, it's déjà vu once again. The software field has always attracted the best of talent on the back of higher wages, lucrative on-site assignments and a five-day week, but when hiring slowed down over the past couple of years, engineering graduates gravitated toward manufacturing. However, this trend has been short-lived and the scales have tipped in IT's favour again. Consider this: India will probably witness 4,50,000 to 4,75,000 engineers graduating this year, of which almost half are expected to be hired by the IT industry."Around 2 lakh engineers and 20,000 MBAs and other graduates are likely to be hired by IT. Other industries will have a tough time finding good talent," says TV Mohandas Pai, director and HR chief, Infosys Technologies.
Source : 14-04-11 Indian Express Compiled by Amresh Anjan
Maruti Suzuki To Hire At Least 2300 People In The Next Three Years Maruti Suzuki India said it will hire at least 2,300 people, mainly for its upcoming two new plants in Manesar within the next two years. With induction of these people the company's workforce will expand by about 27% to nearly 11,000 employees. Mr. SY Siddiqui, Managing Executive Officer of Maruti Suzuki India told that "At this moment we are hiring a minimum of 1,500 people in this fiscal. These people will be taken on board for different verticals like manufacturing, marketing, supply chain and R&D."Maruti Suzuki India had announced to invest over INR 3,625 crore to set up the two new plants with 0.25 million annual capacities each at the Manesar facility. The company is aiming to open the second unit in Manesar by this year while the third one is scheduled to be operational in 2012 to 2013. Source : 13-04-11 PTI.com Compiled by Amresh Anjan
Samsung Raids Rivals For Talent Technology major Samsung has tweaked its hiring strategy in India by inducting executives from diverse sectors such as FMCG and IT for better collaboration across its business verticals and boost further growth. The company feels, given the already high revenue base it commands in the country, fresh approach in sales and marketing would be crucial to drive its next phase of growth in India."We are strengthening the organisation by inducting senior members in critical functions such as sales and marketing," said J S Shin, president and CEO, Samsung (South West Asia). "We have taken people from other sectors such as FMCG and information technology." he said. Mr. Shin said that the company has created a new position of chief marketing officer and appointed Elkana Ezekiel who was the regional director of Johnson & Johnson for the Asia Pacific region. Other executives to come on board for Samsung are Raj Kumar Rishi, a director at hardware firm Hewlett & Packard (HP) and Mahesh Krishnan, who comes from Philips. Source : 11-04-11 Hindustan Times Compiled by Amresh Anjan
Reckitt CEO Becht Makes Shock Exit Rakesh Kapoor, a 24-year veteran at Reckitt Benckiser Group (RB), is set to take over as its new chief executive officer. This is the first time that an Indian would head the world's leading consumer goods firm. The 52-year-old will take over as CEO from September 1, 2011. He will succeed the 54-year-old Bart Becht who held the post for 16 years before suddenly announcing his decision to resign.Mr. Kapoor joined Reckitt Benckiser in India in 1987, is currently the executive vice-president, global category development, and an executive committee member. He is an MBA from XLRI, Jamshedpur, and has a chemical engineering degree from BITS, Pilani.
Source : 14-04-11 Financial Express Compiled by Amresh Anjan
Infosys Director Mohandas Pai Quits Mohandas Pai, director (human resources) and board member of Infosys Technologies has resigned from the company. His resignation would be effective from June 11. For the last few months, he had given hints about his unhappiness about the way in which Infosys was doing its business. He felt that the founders of the company were not taking enough risks, happy to cling on to the firm's famed cauldron of conservatism. Though Infosys had cash reserves of over $3 billion, it was not willing to acquire a big company or asset and that irked Mr. Pai no end. He is said to have had endless debates in the boardroom over this matter in the past year, and his outspoken nature was getting a little difficult for some of the founders to handle. Source : 16-04-11 Indian Express Compiled by Amresh Anjan
Fee-Based Outsourcing Of CEO's Job Indian CEOs are to be now offered the choice of outsourcing all or part of their managerial responsibilities for a specified period. Offering 'Interim Managers' is a concept being brought to India by Paris-based X-PM Transition Partners. They have assisted companies like Alstom, ArcelorMittal, Barclays PE, Bombardier and Thomson in this regard. In India, it has partnered with Ranjit Shastri, a former consultant with McKinsey & Co, to float X-PM for providing executive interim management services.Usually, the company provides top-level managers, chief executive officers and directors to companies for a specific task like turning around the businesses, tackle a post-merger situation or launching a new business, for a predetermined cost and specific duration, of between six months to two years.
Source : 18-04-11 Business Standard Compiled by Amresh Anjan
BPO's Offer Jobs To School Passouts In Smaller Cities Increasing opportunities in the $1.4 billion domestic BPO market have encouraged Indian BPO companies to open delivery centres in tier II and tier III towns. As a result, vendors like Spanco, Aditya Birla Minacs and MphasiS are hiring more school passouts rather than graduates in these cities. Whereas metros still have a higher percentage of graduates as employees because of complex processes, smaller towns are comfortable with hiring non graduates to cater to domestic clients. As an industry average, last year had more of graduates working in the BPO industry but since many vendors have gone to tier II towns and rural areas to operate—the overall percentage of school passouts being hired has increased.
Source : 18-04-11 Financial Express Compiled by Amresh Anjan
Skilling' Latest Biz Mantra As Top CEO's Quit Jobs To Provide Training "Skilling", or providing skills to improve employability, is the latest business opportunity that CEOs with an entrepreneurial streak are trying to tap. Many CEOs, largely from the services sector, have quit their super-income jobs to train a burgeoning number of Indians so that they get decent employment.From Bharti Airtel's former CEO Rajiv Sharma to Star News former president Ravina Raj Kohli, "skilling" is turning out to be the latest draw for corporate hotshots.
Source : 18-04-11 Indian Express Compiled by Amresh Anjan
Govt To Provide 50,000 Jobs To People Uttarakhand Chief Minister Mr. Ramesh Pokhriyal Nishank today said his government has fixed a target of providing 50,000 jobs to people this year. "The government will provide 50,000 jobs to people this year and is working in this direction," he said after inaugurating six development works worth Rs 2531.48 lakh in Rudraprayag district. He also announced to set up a women polytechnic institute at Devli village and will upgrade almost a dozen junior high schools of the area.
Source : 14-04-11 ibnlive.in.comCompiled by Amresh Anjan
TATA Group Bosses To Have Short Tenures The Tatas have suddenly lowered the retirement age for non-executive directors on the boards of the 90 companies in the $67-billion group to 70 years from 75, sparking consternation in the empire's top echelons with several honchos facing the prospect of shortened careers. The decision will hit a number of executives who ran the Tata businesses till they reached 65 years and were in all probability looking forward to a straight 10-year stint as non-executive directors on the boards of the companies in the 140-year-old group.Top shoguns like former Tata Steel MD Mr. B. Muthuraman, erstwhile Tata Motors MD Mr. Ravi Kant, and former TCS boss Mr.S. Ramadorai now find that the stint may be cut short to about five years. Other non-executive directors on holding company Tata Sons' board like Arun Kumar Gandhi, who played a key role in orchestrating the big-ticket acquisitions of Corus and Jaguar Land Rover, and Farrokh Kavarana will also have to contend with shortened tenures. However, non-executive directors who have already crossed 70 years will stay on till they retire at 75 — in line with the old rule that was laid down in 2005. That means Ratan Tata's trusted lieutenant — R.K. Krishnakumar (72) — will continue on the board of Tata Sons and other group companies.
Source : 09-04-11 Business Standard Compiled by Amresh Anjan
Nestle Elevates Nandkishore As Executive VP Swiss FMCG giant Nestle has appointed India-born Nandu Nandkishore as the Executive Vice-President for Asia, Oceania, Africa and the Middle East (ME) with effect from October 1, 2011. He will succeed Mr. Frits van Dijk, who is retiring in September after a long and distinguished career of 41 years with Nestle. Mr. Nandkishore, 52, now Deputy Executive Vice-President and responsible for Nestlutrition, acquired extensive practical business experience in a global context over his past 22 years with the group
Source : 15-04-11 The Hindu Compiled by Amresh Anjan
Star India Ropes In Gayatri Yadav As Its MD Star India has appointed Ms. Gayatri Yadav as its Marketing Director. Prior to this development she was working at the same position with General Mills. Ms.Yadav will replace Anupam Vasudev who is currently EV-P, Marketing, at STAR India. Ms. Yadav, being an IIM Graduate, is armed with 18 years of work experience in the marketing field. She joined General Mills, popular food company, in the year 1996 and served the organization for 15 years as its key player. Before that, she has also worked with Procter and Gamble as Brand Manager. Source : 16-04-11 Mediamughals.com Compiled by Amresh Anjan
Employment Opportunities In VFX, 3D Sector To Rise With more and more filmmakers realising the importance of VFX and 3D technology, the industry is expected to grow at 18.5% per annum and would create many employment opportunities. Co-Founder and chief creative director of Prime Focus Mr. Merzin Tavaria said that VFX (visual effects) has come a long way, not only in terms of technology but also creative innovations."Filmmakers are more educated and aware about the ways they can use VFX to achieve their creative vision," he said. Growing demand for content, increasing investment in training talent, growing comfort of Indian production houses for VFX, continued growth in outsourced work, conversion of 2D to 3D formats and emerging digital platforms are expected to help the industry grow at 18.5% per annum, he said. Increase in demand for VFX and 3D means that the employment opportunities also increase. There is a growing demand for VFX artists right from rotoscopy, compositors, clean up artistes.
Source : 14-04-11 DNA Compiled by Amresh Anjan
Relevante Expands Its India-Based Leadership Team With Five New Appointments India, a leading provider of accounting and technology solutions, announced the expansion of its India based leadership team with the appointment of five managers to the leadership team. The company's operations in India support its US operations as well as a growing portfolio of India based clients. The five appointments to Relevante India's leadership team are as follows: Rajnikanth Korapati will serve as Manager of Online Marketing with responsibility for overseeing the company's website, social media, and eMarketing programs. Tulasi Kumari will serve as Manager of Recruiting with responsibility for overseeing Relevante India's Finance and Accounting recruiting operations. Jayasena Molugu will serve as Manager of Administration with responsibility for the company's management reporting, content management, and performance management systems. Narendra Naidu will serve as Manager of Recruiting with responsibility for overseeing the India based recruiters that support US clients. Sahadeva Reddy will serve as Manager of Business Development with responsibility for overseeing Relevante India's Finance and Accounting business development operations.
Source : 14-04-11 Newswiretoday Compiled by Amresh Anjan
PE Firm MCap Advisors Appoints Satish Chaluvadi As Director Subbu Subramaniam-floated private equity firm MCap Advisors has roped in Mr. Satish Chaluvadi as a director. Until recently, he was a vice-president with Matrix Partners, leading the infrastructure, engineering and logistics practices for Matrix India. An alumnus of IIM Bangalore, Mr. Chaluvadi has over 12 years of experience in financial services, a statement said. He has evaluated and invested in companies across sectors like telecom, retail infrastructure, healthcare, biotech, manufacturing and transportation.
Source : 14-04-11 VCCcircle.com Compiled by Amresh Anjan
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