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| The Naukri Job Speak Index For Dec-11 Grew By 16% Year On Year But Dipped By 10% When Compared To Nov-11 |
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| The Naukri Job Speak index for Dec-11 was at 1072 as compared to 1203 in Nov-11, thus indicating a 10% dip in hiring activity month on month; however a year on year comparison of the index indicates positive movement. Traditionally, December has always been a month where recruitment across sectors have been impacted owing to the end of year holiday season, as most companies put their hiring plans on hold. An in-depth analysis of the index shows that the hiring activity in the Auto sector has been upbeat with the index moving up by 6% in Dec-11 when compared to Nov-11. The index for ITES sector at 731 dipped to an all time low in Dec-11 with the job index moving down by 20% when compared to Nov-11. This could be due the ongoing end of year holiday season as well. The index for Telecom and Oil and Gas sectors saw dips within the range of 20% and 27% in Dec-11 over Nov-11. Construction and Engineering sector witnessed stable hiring during the month, while IT- Software witnessed 13% dip in hiring activity in Dec-11 over Nov-11. |
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| Source : 09-01-12 Naukri.com Compiled by Amresh Anjan |
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| Firms Look To Moderate Staff Expectations In 2012 |
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| Consulting firm Accenture's former Asia-Pacific managing director Sadeesh Raghavan said hefty perks and hikes were routine when the global economy was doing well, but employees are being told this may not be a bumper year, Mint reports. Jet Airways has introduced a wage freeze for some employees to cut costs. Tata Sons chairman Ratan Tata has signalled the need for greater scrutiny of expenditure in a New Year message to employees. In a letter to Jet employees, CEO Nikos Kardasis said, "Over the last few months, though the company has implemented several measures to face the economic adversities, the financial situation of the company continues to be extremely grave." "The problem with a growing economy is that when you have had many good years, you have built in expectations and people take things for granted,"according to Mr. Raghavan. |
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| Source : 06-01-12 Mint Compiled by Amresh Anjan |
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| Recession Pangs: Indian Doctors Head Home |
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| Thousands of Indian doctors in the U.K. are heading back to India, in what is seen as a clear sign of reverse brain drain. Kelly Services,which tracks human resources movement trends across the globe, estimated that about three lakh Indian professionals from different streams are likely to come back in the next five years. Dr. Ramesh Mehta, secretary-general of the Global Association of Physicians of Indian Origin, estimates that one-fourth of 40,000 doctors of Indian origin in the U.K.'s National Health Services were going to retire soon. "New-generation doctors are not finding jobs because of the recession. New colleges and institutes are coming up in India and they might need experienced people," Dr. Mehta said. India, on the other hand, faces a shortage of doctors. "It is short of six lakh doctors and 10,000 nurses," he said. |
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| Source : 05-01-12 Hindu Business Line Compiled by Amresh Anjan |
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| Gloom Bypasses Second-Rung B-Schools |
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| As consulting firms and global and commercial banks shy away from leading business schools, the not-so-marquee names are set for a reasonably good placement season. That is because companies which recruited in large numbers in 2009 are reluctant to visit campuses as they are unsure of the domestic consumption story. With large recruiters missing from B-schools, smaller firms also start second-guessing themselves. The scenario is dramatically different in the second-rung schools (mostly those outside the top 20) that haven't yet seen any decline in the number of offers coming their way. Tech companies are sticking to their recruitment plans drawn up at the beginning of the financial year and will recruit over 250,000 engineering graduates from across the country's lesser-known campuses this year. Sectors such as retail, healthcare, defence, hospitality and consumer durables also offer huge opportunities. |
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| Source : 06-01-12 Business Standard Compiled by Amresh Anjan |
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| Vacancies At The Top Taking Longer To Fill |
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| Filling up positions at the most senior levels has become increasingly difficult with rising salaries and the demanding nature of the job. As a result, top positions have been lying vacant for longer periods. "Filling up positions at the top level took two to three months earlier, but in some cases it stretches to 15 to18 months now," said E Balaji, managing director and CEO of Ma Foi Randstad. Companies no longer have large risk appetites, nor do they want to hire executives for bigger roles in a hurry. To top it, a slowing economy further aggravates the problem, Mr. Balaji says. Salaries at the top have also increased, ranging from anywhere between Rs 50 lakh and Rs 1 crore, making it tougher to find an outside candidate, says Chaitali Mukherjee, country manager, Right Management. |
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| Source : 10-01-12 Financial Express Compiled by Amresh Anjan |
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| Purchasing Manager Index Up, But Little Cause For Cheer |
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| The seasonally adjusted HSBC Manufacturing PMI for December stood at a six-month high of 54.2, indicating that the economy is recovering. However, that should be taken with a pinch of salt. The sub-index for new orders was a strong 57.9, well above November's level of 52.8. Export orders did better than their dismal performance in the preceding months. Employment in the formal manufacturing sector stopped contracting for the first time in five months. But on some fronts PMI data has been disappointing. For example, within the HSBC India Services PMI, the sub-index for prices charged has been increasing in the last two months. In manufacturing, the rate of increase in selling prices in December was the highest in seven months. Other concerns include continuing strength in crude oil prices, the depreciating rupee, structural inflation and the poor growth in earnings, all reasons to be very nervous about. |
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| Source : 04-01-12 Mint Compiled by Amresh Anjan |
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| Former Barista COO To Head Om Pizza |
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| Sanjay Coutinho, COO of Barista, has moved to Om Pizzas and Eats, the franchisee for Papa John's Pizza, Chili's Grill & Bar Restaurants and The Great Kabab Factory, as CEO. Mr. Coutinho is expected to play a key role in Om Pizzas' expansion strategy. He has 20 years of experience in the food and retail industry. |
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| Source : 05-01-12 Business Standard Compiled by Amresh Anjan |
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| DU Students Take 'Employability' Test |
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| Delhi University students nearing the end of their graduation took an "employability" test to assess their industry-readiness in the first-ever initiative of its kind. The adaptive test kicked off in December and has already seen as many as 1,045 students appearing for it. The test assesses students' abilities in areas like English comprehension, and quantitative and logical abilities, among others. Says Himanshu Aggarwal, CEO of Aspiring Minds, the company behind the concept of the test, "By testing the students on a range of assessment scales like personality, logic and quantitative analysis, we are able to assess which sectors they are suitable for and where they lag behind." The firm is connected with 75 companies in IT, BPO, KPO, Banks, Retail, Pharma and Hospitality sectors. "Our clients get to log into our portal where they can get a detailed report and can access possible recruits," Mr. Aggarwal says. |
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| Source : 10-01-12 Financial Express Compiled by Amresh Anjan |
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| Qatar Move May Hit Indian Workers |
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| Qatar is mulling a unified format of employment contract for foreign domestic workers in the six Gulf Cooperation Council (GCC) states. These states import on a large scale workers from India and other countries. Qatar made the recommendation at a recent meeting of GCC undersecretaries in Manama. The aim is to streamline and unify terms and conditions of employment contracts in the Gulf. According to various estimates, the total number of Indians in the region tops 7.5 million. Saudi Arabia has 1.79 million resident Indians, or just fewer than 7 percent of the population. The GCC states will hold a meeting with major manpower exporting countries to discuss issues surrounding the rights of both workers and their employers. |
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| Source : 03-01-12 Hindustan Times Compiled by Amresh Anjan |
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| GroupM Appoints India HR Chief |
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| Media planning and investment agency GroupM has appointed Sonali Vaidya as human resources head, India. She takes over from Gaurav Hirey who will be moving to Singapore. Prior to this, she was with Alchemy Group, a financial services group. In a career span of 14 years, she has worked in the HR fields across companies such as ABN Amro Bank, GE Consumer Finance and ESPN Star Sports. |
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| Source : 06-01-12 Business Standard Compiled by Amresh Anjan |
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| India Scores Low In Gender Diversity |
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| India has a poor track record as regards gender diversity, and is placed 113th among 135 countries in the latest World Economic Forum rankings. While gender diversity is aggressively touted at the workplace, lack of accountability hinders any progress. Practices such as mentoring efforts, employee resource groups, flexible work timing options and other such support programmes have been implemented across India. However, their usage and success have not been measured. A study by Catalyst Group found that men and women have the same aspirations. However, while 55 percent of women and 57 percent of men aspired to the CEO role, only 11 percent women reached that level as opposed to 21 percent men. This was ascribed to the tendency among women to wait, while men took a future oriented approach. The situation may change as organisations consciously pursue gender diversity. |
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| Source : 02-01-12 Financial Chronicle Compiled by Amresh Anjan |
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| RBS Likely To Cut 3,000-4,000 Investment Banking Jobs |
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| Royal Bank of Scotland said it is expected to cut between 3,000 and 4,000 investment banking jobs, media reports said.The job cuts are a part of restructuring of the business. According to some sources, the review of part-nationalized RBS's global banking and markets division may be released on Jan 12.The sources also opined that RBS may possibly also sell some businesses like Hoare Gavotte and cash equities.Besides, they also stated that parts of the bank's global banking and markets will be merged with the payments business called GTS or Global Transaction Services. Global Transaction Services is the payments business of RBS having steady revenues and also shares many customers with parts of global banking and markets.British government owns 83% stake in Royal Bank of Scotland. British banks have also been asked to reduce the size of global banking and markets further to become less unsafe in the last three years.The size of the global banking and markets has already been reduced in the last three years. Apart from size reduction of GBM division, British banks have also been asked to separate their UK retail banking operations to lessen the hazards that taxpayers will need to bail out the industry again. There are further rumors that RBS may further cut as many as 10,000 of its 18,900 jobs. |
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| Source : 07-01-12 stockmarketdigital.com Compiled by Amresh Anjan |
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| ISB Extends Entrepreneurial Initiative |
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| Hyderabad-Based Indian School Of Business (ISB) Is Opening Up Its Entrepreneurship Development Initiative (EDI) To Non-ISB Students, Financial Express Reports. It Is In Talks With NASSCOM And The Indian Angel Network To Tap Students With An Entrepreneurial Bent Of Mind. As Part Of The Programme, ISB Students Go Through A Four-Month Assessment To Check The Viability Of The Venture. Selected Students Get Free Stay At The ISB Campus And A Stipend Of Rs 25,000 For A Period Of One Year, Besides The Incentive Of Deferred Placements. In Return, The Successful Ventures Must Donate 3 Percent Of Their Equity To The Campus. Almost 17 Ventures By ISB Graduates Have Been Incubated since May 2009 And Five Have Graduated. The Programme For Non-ISB Students May Begin This Year. However, They Will Not Get Accommodation On Campus But Only Access To Infrastructural And Intellectual Property-Related Facilities. |
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| Source : 10-01-12 Financial Express Compiled by Amresh Anjan |
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| Demand For Environment Experts Set To Rise |
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| With companies taking steps to become environment-friendly, demand for green professionals is likely to increase. "The demand for environmental professionals is expected to go up by 55 to 60 percent this year, as firms are spending more on creating clean technology, reducing emissions and wastage and regulating use of natural resources," said Kanika Vaswani, executive director, Elixir Consulting. Green jobs, white- or blue-collar, are mainly defined as jobs in agricultural, manufacturing, R&D, administrative and service activities that help to conserve the environment.The real estate sector is likely to emerge as one of the biggest employer of green professionals. Consumer goods and the retail sector are also emerging as potential recruiters, Vaswani said. Professionals in the field can expect Rs 12lakh packages and at senior levels Rs 35 lakh to Rs 40 lakh |
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| Source : 08-01-12 Hindu Business Line Compiled by Amresh Anjan |
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| Renault India Deputy MD & COO Steps Down |
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| The Deputy Managing Director and Chief Operating Officer of France auto-major Renault's Indian operations, Sudhir Rao, has decided to quit. A company spokesperson said that Mr. Rao is quiting the company, but did not comment on reason for quitting and Mr. Rao's future plans. Mr. Rao was one of the key persons for Renault's formal entry into India after it decided to end its long association with the Indian auto-giant Mahindra Group. |
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| Source : 08-01-12 Financial Chronicle Compiled by Amresh Anjan |
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| Temp Staffing Firms Face Problem Of Definition |
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| Temp staffing firms are facing an "identity" problem, due to the lack of clarity in the definition of their work under the Income-tax Act. The services rendered by staffing companies, which in most cases is supply of labour, would qualify for TDS at 2 percent under Section 194C of the Act. However, the tax authorities insist on a 10 percent deduction, the rate applicable to companies that render professional services. Team Lease Services, under the aegis of the Indian Staffing Federation, has taken up the issue with the Central Board of Direct Taxes. It wants Section 194C to include 'supply of manpower' to put at rest the "ambiguity". "Staffing companies merely provide manpower at low margins and should be clearly categorised under 194C," says Ravi Vishwanath, CFO, Team Lease. "Staffing companies operate on wafer-thin gross margins and net margins are even smaller." |
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| Source : 08-01-12 Hindu Business Line Compiled by Amresh Anjan |
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