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Indian IT Sector Needs More Specialists The Indian IT sector needs more 'specialists' as it is moving into new markets and increasing its international customers, Som Mittal, president, Nasscom, said. Mittal was speaking at the inaugural session of Nasscom HR Summit 2011, in Chennai. The IT industry is expected to earn $70 billion in revenues and employ nearly 2.8 million people. It needs to move on from trainable students to industry-ready specialists, Mr. Mittal said.The Indian education system is also facing demands to prepare students to become specialists in any field such as remote management system, software engineering and CADD design, Mr. Mittal added. Colleges produce only research graduates not industry specialists, he said. Companies often have to spend 18 weeks on training graduates, which depletes resources, he said. The IT industry annually spends nearly $1.3 billion on training alone.
Source : 27-07-11 Hindu Business Line Compiled by Amresh Anjan
NRI Hiring By Homegrown Companies Sees Upsurge In Q1 Hiring of non-resident Indians by homegrown companies witnessed an upsurge in the April-June period of 2011 thanks to the improved healthy economy and competitive compensation levels. According to a study by MyHiringClub.com, a recruitment tendering platform, hiring of NRIs accounted for 21 per cent of total recruitment activity during April-June, 2011, compared to 16 per cent in the year-ago period, representing a growth of 5 per cent. In addition to that, many US companies are opening their offices in India and hiring more to target the growing market in Asia. The segments that registered the maximum NRI recruitment during the period under review include IT & ITES, banking and financial services, automobiles and manufacturing, telecom, pharma and healthcare. The survey, conducted among 237 corporate and 690 recruitment consultants, said that the appointment of NRIs increased by 28 per cent in the IT and ITES space during the first quarter of FY'12 vis-a-vis the year-ago period. Looking ahead, the survey said that NRI hiring activity would witness good momentum in 2011, as well as in the next few years. A lot of high value NRI professional recruitment is likely to take place in this year and in the coming few years.
Source : 26-07-11 Rediff.com Compiled by Amresh Anjan
Fixed Tenure Hiring Policy May Breed Graft, Says High Court The Gujarat High Court refused to accept the contention of the state government to consider a Public Interest Litigation (PIL) challenging its policy to recruit young people on fixed salary for five years, as a service matter. The court admitted the PIL while raising some serious queries related to the policy. Final hearing on the PIL has been scheduled for August 9, 2011.A division bench of high court headed by Chief Justice S J Mukhopadhaya admitted the petition while taking a prima-facie stand that the government cannot have such a policy, as it may breed corruption in the administration. The government has been recruiting people on fixed salary and time frame calling them Vidya Sahayak for teachers, Lok Rakshak for police and Gram Mitra in rural administration. The petitioner has demanded to quash the system of recruiting people for a fixed time frame. It has also demanded various benefits like provident fund and medical expenses for the employees. The government put forward its affidavit opposing the PIL. The government stated that the petition should be considered as a service matter and not a PIL.
Source : 28-07-11 Indian Express Compiled by Amresh Anjan
Top managers need to improve communication: Ernst & Young As per "employee engagement surveys" conducted by Ernst and Young (E&Y) in India, senior managers need to communicate more effectively. The communication scores for India, particularly those of senior management, are relatively low. Executives in India have placed companies between 25% and 60% on the effective communications scale.. Employees feel top management falls short in areas such as sharing information on strategic priorities and business direction, sensitivity to employee concerns and seeking their opinion on organisational issues.
Source : 24-07-11 Mint Compiled by Amresh Anjan
Credit Suisse To Slash 2,000 Jobs Worldwide Swiss banking major Credit Suisse, which has posted over 50% decline in quarterly profit, is all set to axe about 2,000 jobs worldwide, as part of aggressive cost-cutting measures. The Swiss group said that it would trim about 4% of its global workforce while announcing a steep decline in profit at 768 million Swiss francs for three months ended June. Credit Suisse is the latest to join a growing list of global entities, including Cisco, Research in Motion (RIM) and Nokia that have announced layoffs amid tough business conditions. Money control.com, Jul 29
Source : 29-07-11 Money control.comCompiled by Amresh Anjan
Merck to cut 13,000 jobs Merck, the US drug company, said that it would slash as many as 13,000 jobs as it looked to slash costs and invest in emerging markets. The cuts, which represent 13% of its workforce, follow an earlier round of lay-offs announced last year when the company said it was reducing its employee base by 17% as part of a restructuring plan. Merck has been looking to achieve savings promised when it acquired Schering Plough for USD 41bn in 2009.Job cuts in the US come at a painful time for the US, which is reeling from a prolonged bout of high unemployment and slowing economic growth. Merck has been trying to maintain its spending on research and development amid its cost-cutting efforts.
Source : 30-07-11 Moneycontrol.com Compiled by Amresh Anjan
Corporates take fancy to hiring Chief Privacy Officers Privacy is of utmost importance to the corporate world and companies are now adding an extra hand to their top-management teams - Chief Privacy Officer - to guard business secrets. The role of this new C-level executive, the latest in the list of top-management titles like CEOs, CFOs and COOs, is safeguarding important business data from rivals and this position is being created increasingly across organisations, say experts. The appointment of people for this new post has seen an increase of more than 100 per cent in the last four years, as per a new study by consultancy major Price Waterhouse Coopers. In some companies this position also goes by the name of Chief Security Officer (CSO) and is largely being seen on the lines of other C-level posts like the Chief Executive Officer (CEO), Chief Administrative Officer (CAO), Chief Operating Officer (COO), Chief Financial Officer (CFO) and Chief Information Officer (CIO).The PwC study titled "Changing Landscape of Security and Surveillance" in Information Technology area, found that the rise of 113 per cent in the appointment of CPOs is highest for any C-level position in the past four years.The second-highest growth of 67 per cent was seen for the appointment of COOs, found the survey conducted among 7,000 CEOs, CFOs, CIOs, vice-presidents and directors across 119 countries.
Source : 24-07-11 The Pioneer Compiled by Amresh Anjan
Mi India Appoints Krishnamurthy Vijayan As Co-Chairman Mi India, a group of entities seeking to invest in microfinance institutions and social enterprises, has named Krishnamurthy Vijayan as co-chairman of its board of directors. Most recently, Mr. Vijayan served at IDBI Asset Management as managing director and CEO. He has also worked for UTI, Jardine Fleming and JP Morgan.
Source : 22-07-11 VC Circle Compiled by Amresh Anjan
Religare Macquaire go for Esops to retain staff Religare Macquarie Private Wealth is offering stock options to its 200 employees as an incentive to stay on, Financial Chronicle reports. This follows an increase in demand for wealth managers due to international giants such as Merrill Lynch, Barclays, UBS, Morgan Stanley expanding their operations in India. The wealth management firm also aims to have 80% of its staff CFA (chartered financial analyst) certified by end of calendar 2011, said CEO Rohit Bhuta. This is aimed at making Religare a knowledge based company, he said. Religare Macquarie Private Wealth is a joint enterprise of Delhi-based Religare Enterprises and Australia's Macquarie. Queried on whether stock options implied an IPO in the future by the firm, Mr. Bhuta said Religare and Macquarie would buy back the shares from the employees.
Source : 25-07-11 Financial Chronicle Compiled by Amresh Anjan
CA India to recruit 800 employees over 3 years CA Technologies, a U.S.-based software firm, is planning to hire 800 product development engineers for its research and development centre in Hyderabad, India. The centre, which has a capacity of 2,500 staffers, currently employs 1,700. Sanket Atal, senior vice president and head of CA India Technology Centre, said the company expects to reach its full capacity of employees at Hyderabad in 2-3 years. It will mainly hire laterally, with fresh college graduates accounting for only 20% of the total appointments. CA Technologies had ambitious product plans for the future, he added. The team at Hyderabad is involved in software development, testing, execution, releases, documentation and other projects. CA Technologies has invested about $60 million in the centre, which employs about 30% of its total product development staff.
Source : 25-07-11 Financial Chronicle Compiled by Amresh Anjan
Xiotech appoints new Xiotech Corporation, a Colorado Springs, US-head quartered storage company, has appointed Mr T.V.P. Kameswar Rao, as the Managing Director of their Engineering & Development Centre in Hyderabad. Xiotech provides high-performance storage systems, purpose built for today's cloud and virtual desktop-to-data centre initiatives.It employs over 50 storage specialists and contributes to the company's entire product range including the flag-ship ISE (Intelligent Storage Element) product line.The company has more than 1,200 world-wide customers across all major industries. Earlier, Mr Rao was the Managing Director of the India development centre of the California-based fabless silicon start-up company, iKoa Corporation.
Source : 25-07-11 Hindu Business Line Compiled by Amresh Anjan
Blue Star Infotech Hires MD Blue Star Infotech has recruited Sunil Bhatia as managing director, The Hindu Business Line reports. He is joining the Mumbai-based software solutions provider from Accenture, where he was a partner in the U.S. Prior to this, Mr. Bhatia was associated with IBM. Source : 25-07-11 Hindu Business Line Compiled by Amresh Anjan
Synovate Announces Senior Level Appointments In India Global market research firm Synovate, one of the top four custom market research firms, has announced senior level hiring in the company's India operations. Ruma Sengupta has been appointed Director of Insights, Sachin Chaudhari has rejoined as Research Director, and Avijit Ghosh has joined the Motoresearch team as Associate Director. Mick Gordon, managing director for Synovate India, views these appointments as highly strategic due to the continued growth of business in India. "These new senior level recruits have a wealth of experience, which we will leverage in further enhancing our client delivery mechanisms. We have a strong and solid top team to guide and advise our clients' businesses towards growth."
Source : 21-07-11 Indiainfoline.com Compiled by Amresh Anjan
Visually Challenged to get Into IT soon The visually challenged are now also getting training for jobs in the IT sector. TCS Maitree, part of the HR department of Tata Consultancy Services, is offering an advanced IT training course for the visually impaired in Bangalore. The company is offering the month-and-a-half long programme at Bangalore-based NGO Mitra Jyothi. The programme comprises both hardware and the BPO elements and has already been running in Mumbai. It gives students hands-on training in IT hardware, networking and BPO related procedures, said Vikas Shevade of TCS Maitree. IT and HR chiefs from IT firms have been requested to meet the trainees during the course. Though there is no guarantee of employment, nearly 60% of the trainees have been placed in IT firms in the past. Around 12 visually challenged persons have joined the programme at Mitra Jyothi. The visually challenged are now also getting training for jobs in the IT sector. TCS Maitree, part of the HR department of Tata Consultancy Services, is offering an advanced IT training course for the visually impaired in Bangalore. The company is offering the month-and-a-half long programme at Bangalore-based NGO Mitra Jyothi. The programme comprises both hardware and the BPO elements and has already been running in Mumbai. It gives students hands-on training in IT hardware, networking and BPO related procedures, said Vikas Shevade of TCS Maitree. IT and HR chiefs from IT firms have been requested to meet the trainees during the course. Though there is no guarantee of employment, nearly 60% of the trainees have been placed in IT firms in the past. Around 12 visually challenged persons have joined the programme at Mitra Jyothi. The visually challenged are now also getting training for jobs in the IT sector. TCS Maitree, part of the HR department of Tata Consultancy Services, is offering an advanced IT training course for the visually impaired in Bangalore. The company is offering the month-and-a-half long programme at Bangalore-based NGO Mitra Jyothi. The programme comprises both hardware and the BPO elements and has already been running in Mumbai. It gives students hands-on training in IT hardware, networking and BPO related procedures, said Vikas Shevade of TCS Maitree. IT and HR chiefs from IT firms have been requested to meet the trainees during the course. Though there is no guarantee of employment, nearly 60% of the trainees have been placed in IT firms in the past. Around 12 visually challenged persons have joined the programme at Mitra Jyothi.
Source : 25-07-11 Deccan Herald Compiled by Amresh Anjan
Samsung keen to expand R&D capabilities in India Korean technology major Samsung will expand its research and development capabilities in India by hiring between 1,000-2,000 people every year apart from bringing in work involving new technologies. Samsung currently has four R&D centres in the South West Asian region of which two are located in Noida, one in Bangalore and another one in Dhaka. Dr. Dipesh Shah, Director, Samsung India Software Operations, said, "As part of the expansion plan, we will be adding 1,000-2,000 people across the four centres in the region. But more than adding numbers our focus will be to expand technological capabilities and increase customisation of our products."
Source : 26-07-11 Hindu Business Line Compiled by Amresh Anjan
Tata Teleservices Plans to Cut Jobs Tata Teleservices is combining its CDMA and GSM mobile services divisions which may result in job cuts. The restructuring, which could see a 15% reduction in staff, is aimed at increasing efficiency. This estimated cut in workforce includes workers asked to leave due to non-performance, a top-level official of the company said.
Source : 27-07-11 Mobile Business Briefing Compiled by Amresh Anjan
Tripurari Sharan appointed As Director General of Doordarshan Tripurari Sharan, a Bihar cadre 1985 batch IAS officer, has been appointed director-general of Doordarshan for the next three years. Mr. Sharan, 50, will take over from LD Mandloi, the acting Director General, who was given the charge after the unceremonious exit of Aruna Sharma.
Source : 26-07-11 Hindustan Times Compiled by Amresh Anjan
Nomura Names New Head Of India Equities Business Nomura Holdings said that it has appointed Prabhat Awasthi, who has been working with the Japanese bank for nearly three years, as head of its India equities business. Mr. Awasthi, who was heading equity research at Nomura in India since October 2008, will report to John Adair and Paul Dolan, joint heads of Asia Pacific equities at Nomura, the bank said in a statement.In his new role, Mr. Awasthi, who joined Nomura from Lehman Brothers, will replace Pankaj Vaish who quit the Japanese bank in July last year to join Citigroup as the U.S. bank's South Asia markets head
Source : 27-07-11 Reuters,com Compiled by Amresh Anjan
Godrej Consumer Products Limited cuts pay, bonus of top management Godrej Consumer Products (GCPL), the country's largest homegrown FMCG company has cut the pay and bonuses of its top management including chairman Adi Godrej, its former vice chairman HK Press and former MD Dalip Sehgal. Interestingly, the company has paid its promoter Adi Godrej less than its MD, A Mahendran in 2010-2011, according GCPL's annual report.As a result, its total managerial remuneration paid in the financial year ending March 2011 fell to Rs 11.44 crore from Rs 16.14 crore in 2009-2010.The biggest component of the drop in managerial remuneration is on account of productivity linked variable remuneration (PLVR), which fell to Rs 169.4 lakh in 2010-2011 from Rs 946.23 lakh in 2009-2010.
Source : 27-07-11 Financial Chronicle Compiled by Amresh Anjan
HCL Tech to hire 3,000 people in Q1 Software exporter HCL Technologies (HCLT) today said it will hire about 3,000 people in the July-September quarter."We have already hired 3,000 people in the June quarter. In this quarter, we will hire an additional 3,000 freshers," HCL Tech Chief Executive Vineet Nayar said. The Indian IT industry is ramping up its headcount as it gears up to meet renewed demand for IT services following a slump during the economic meltdown. Companies are also building up bench strengths to handle the bigger size and variety of projects they expect to grab in the coming months.Larger rival Tata Consultancy Services (TCS) plans to hire about 60,000 people this fiscal, while peers Wipro and Infosys are also hiring aggressively.
Source : 27-07-11 Hindu Business Line Compiled by Amresh Anjan
Wipro Elevates insiders as CIO and head of operations Wipro, India's third-largest information technology (IT) services company, has appointed two insiders as its chief information officer (CIO) and head of global operations. Both these roles were handled by Laxman K Badiga, who took "voluntary retirement" earlier this month after over three decades of service. The company elevated Ramesh Nagarajan, who was the chief operating officer (COO) of Financial Solutions in the banking, financial services and insurance division of Wipro Technologies, as its CIO. Similarly, they brought back Hariprasad Hegde, who was heading Wipro Water, as its global head of operations. Source : 28-07-11 Business Standard Compiled by Amresh Anjan
Hindustan Aeronautics Appoints HR Director Hindustan Aeronautics has appointed VM Chamola as director, HR. He is joining the company from Bangalore-headquartered BEML, where he was serving as chief general manager of HR
Source : 22-07-11 msnindia.comCompiled by Amresh Anjan
