Addition Of Jobs See A Steep Fall In 2010-11 Even as aggregate employment prospects have improved gradually over the last five years, factory employment data show a decline in the last fiscal.Latest labour bureau data show 2010-11 trailed the previous fiscal in creating jobs in the organised sector. In 2010-11, eight major sectors with the largest employment footprint created less than a million jobs (9.7 lakh), which is 26% below the 1.32 million jobs created in 2009-10.The slack in adding jobs is also a reflection of the higher capital intensity in the Indian industry. Companies often go slow on labour addition thanks to tough employment rules preventing retrenchment. Emerging from the downturn of 2008-09, employers have been wary of fresh hiring.
Source : 05-07-11 Financial Express Compiled by Amresh Anjan
Asian Salaries To Exceed US Pay Packages Top executives in the Asia Pacific region, especially in countries like India and China, are likely to witness rapid rise in their pay package this year, and their renumeration in the next three years is likely to surpass of those in the US, says a survey. According to HR consulting firm Mercer's latest Executive Renumeration Perspective rapid growth, talent shortage and inflation in countries like India and China have created record increases in executive pay. This is ushering in a new trend wherein employees in Asia are paid more than their contemporaries in Europe and the US. "Global growth, regional hotspots and executive talent shortages are leading to a dramatic change -- by region – in pay for performance and executive renumeration program design and governance," Mercer said.Executive salaries in Asia are already higher than the Europe and with an annual increase rate higher than in the US, we expect Asian executive salaries to surpass those in the US within the next two to three years, the report said.
Source : 25-06-11 Financial Express Compiled by Amresh Anjan
IT Companies Seek Temps Due To Dearth Of Skilled Staff And Visa Troubles Shortage of skilled technical staff coupled with difficulty in obtaining H1-B visas for employees is prompting Indian IT companies to hire more temporary staffers in overseas locations. According to E Balaji, CEO of manpower consultancy firm Ma Foi Randstad, IT firms can cut their costs in the U.S., the U.K. and other European countries by about 10% by appointing temporary staff. Using temporary employees, companies can also increase or decrease their headcount depending on the amount of business in hand. The temporary-staffing business has even survived the recession. Sunil Goel, director, Global Hunt India, says that companies prefer hiring short-term employees for about six months and later, retaining them as full-time workers if they prove to be valuable resource.
Source : 04-07-11 Hindu Business Line Compiled by Amresh Anjan
Unemployed Persons Get New Jobs On Improved Economic Conditions A study by MyHiringClub.com has revealed that a large number of people, jobless during the last two years in India, have got new jobs due to improved economic environment. The survey reviewed more than 2,860 people unemployed from June 2009 to May 2010. Nearly 46% of the survey participants, who were laid off or quit their jobs during the period, got new opportunities, while 18% were re-appointed by their previous employers. Almost 72% of the surveyed people found full-time jobs, 21% set up their own projects and 9% got part-time employment. Some of the people who obtained new jobs had to relocate and compromise on the pay. The survey also revealed that only 41% of the female respondents got new employment as against 59% in the case of the male participants in the survey.
Source : 03-07-11 Hindu Business Line Compiled by Amresh Anjan
D-Link India Names CEO D-Link India has hired Tushar Sighat as the new CEO for India and the SAARC region, India Infoline reports. He is joining the firm from Cyberoam - Elitecore Technologies, where he was senior vice president of sales operation for India and SAARC.
Source : 03-07-11 India Infoline Compiled by Amresh Anjan
Women Representation Poor In India Inc Male employees still outnumber their female counterparts in mid and top level management positions, according to speakers at a HCL-NASSCOM organized discussion. This is in spite of the Indian IT/ITES sector recruiting around 6.5 lakh women during the last four years, which comprises 26% of the 25 lakh workforce. Women comprise 70 to 80% of the staff of companies with less than 1,000 workers and those set up during the last five years. This was disclosed to attendees at the discussion on rebalancing workforce from gender perspective. According to Geetha Kannan, consultant from Diversity and Inclusion (D&I), the decreasing number of women at the mid and top level in industry is linked to the dropout figures at schools.
Source : 01-07-11 Deccan Herald Compiled by Amresh Anjan
Maheshwari Resigns As Dunlop India CEO Shiv Maheshwari, CEO and executive director of Dunlop India, has resigned from his position. He was appointed as CEO in August last year after Rakesh Budhiraja stepped down from the position.
Source : 01-07-11 Livemint Compiled by Amresh Anjan
GDP Growth Of 1% Can Create One Million Jobs A 1% rise in India's GDP can generate one million new jobs, according to Chief Economic Advisor Kaushik Basu. The basics of the Indian economy are robust enough in the medium and long term for the economy to maintain a growth rate of over 8%, he said.India's per capita income may reach around $10,000 by 2039 if the economy continues to grow at over 8% for the next 25 years, he added. The per capita income currently stands at $1000.The economy, which grew by 8.5% in the last fiscal, is expected to maintain this growth rate in the current financial year also. However, supply side pressures on inflation may restrict growth in the immediate future, according to the Reserve Bank of India Deputy Governor, Subir Gokarn.
Source : 29-07-11 Financial Chronicle Compiled by Amresh Anjan
Indian Firms Turn To NRI's For Top Roles Companies in India, including Tata Motors, Larsen & Toubro (L&T), Aditya Birla Group, ABB, Novartis and Cognizant, are seeking to hire Indians working abroad. These companies are appointing Indians to take up senior roles. The Aditya Birla Group recruited Indian technical executives from abroad for senior and mid-senior management positions. L&T appointed Indians from overseas, especially for posts that require specialist knowledge that is not available in the country. According to some HR experts, restrictive practices in the U.S. and other markets, where companies favour locals, are pushing a few Indian professionals, working abroad, to return home. This gives Indian companies the opportunity to tap some good talent with international working experience.
Source : 29-06-11 Financial Chronicle Compiled by Amresh Anjan
Bata India names Non-Executive Chairman With an eye on pushing up its turnover four times in the next five years, Bata India is foraying into rural markets. The company, which has so far restricted itself mostly to catering to the metros and big cities will now aggressively, pursue its plans for tier II & III towns. The company also introduced its new non-executive chairman, Uday Khanna. Mr. Khanna was the former CEO of Lafarge India and he will take over from Mr. PM Sinha in July.
Source : 29-06-11 Financial Express Compiled by Amresh Anjan
HCL Likely To Hike Wages Up By 14% In July HCL Technologies is all set to hike its employees' salaries. This comes close on heels of major companies in IT sector like Infosys and Wipro that have announced wage hike in April this year. The company is expected to increase its employees' salary by 10-13 per cent for 2011-12. HCL Technologies' wage revision happens in July every year. "In HCL, we will have our wage revision in July. We will disclose it during our fourth quarterly result in July. We are watching the market and we will be competitive. I cannot disclose by how much, but it will sure be market competitive," senior corporate vice-president and chief customer officer, HCL Technologies, Rajiv Sodhi
Source : 28-06-11 Financial Chronicle Compiled by Amresh Anjan
Ajay Agrawal To Step Out Of His Role As Chief Solutions Officer Of Unitedlex Ajay Agrawal, co-founder and chief solutions officer of UnitedLex, has resigned from his current position. Mr. Agrawal, who founded the technology-powered legal and business solutions provider in 2006, has left the board of directors of the company to pursue other opportunities.
Source : 28-06-11 Business Wire Compiled by Amresh Anjan
APPSC Plans To Do Away With Job Interviews The Andhra Pradesh Public Service Commission (APPSC) is likely to do away with the interview system for recruitment into all government jobs except Group-I services. A proposal to this effect is under consideration by the state government which is likely to take a decision shortly. If approved, the new system will apply to all future recruitments to government jobs including Group-II services. Over the past few years, the APPSC got entangled in various controversies over irregularities in recruitment of candidates in government jobs. The allegations of irregularities were more during the tenure of APPSC former chairman Y Venkatarami Reddy following which the state government has appointed the then special chief secretary for health J Satyanarayana to inquire into the alleged irregularities in selection of candidates by the APPSC. Mr. Satyanarayana, who is currently the special chief secretary to the chief minister, submitted his report recently with recommendations for improving the process of recruitment by the commission. In his report, Satyanarayana is learnt to have recommended for dispensing with the interview system for all categories except Group-I services which are mainly executive posts.
Source : 03-07-11 ibnlive.in.com Compiled by Amresh Anjan
IT Freshers' Salary Remains At Pre-Recession Level Though the recruitment of fresher's has gained momentum in the information technology (IT) sector, salary packages offered to campus recruits have remained almost at the pre-recession level. Remunerations of senior executives have, however, increased considerably. The joining annual salary of fresher's in 2008 was in the range of Rs 2.5 lakh to Rs 3 lakh in several Indian and global IT companies. In 2011, the joining salary has remained the same, except in some cases where it has gone up marginally. The job market had started experiencing the effect of recession from the later part of 2008, which continued for nearly two years. The average joining salary at Mahindra Satyam is Rs 3.07 lakh per annum this year, which is a notch higher from Rs 290,000 in 2008.For most Indian IT companies, the joining salaries have not gone up. Tata Consultancy Service (TCS) is offering freshers in the range of Rs 3.1-3.2 lakh, while Infosys is offering Rs 3.2 lakh. The salary packages offered to freshers by mid-sized IT services firms are Rs 3 lakh each. Most IT firms agree the salary levels for campus recruits were at the same level as in 2008.
Source : 30-06-11 Business Standard Compiled by Amresh Anjan
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