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| World Bank Upbeat On India's Long-Term Job Outlook |
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| A World Bank report said India will account for around 8.5 lakh new entrants into the job market each month by 2030. Around 10 lakh to 12 lakh new jobs will be created monthly by then in eight South Asian countries, which include India, Pakistan, Nepal, Bhutan, Sri Lanka, Bangladesh, Maldives and Afghanistan. The report explores constraints on job creation in the "urban formal sector" in South Asia which primarily includes electricity, corruption and political instability. In India, the list reads tax administration, electricity and corruption. Separately, a United Nations report on World Economic Situation and Prospects 2012 highlights the growing problem of unemployment among youth. It estimates the global employment deficit to be a staggering 64 million in 2011. This is likely to deteriorate further to 71 million, given the global economic slowdown and growth of the workforce. |
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| Source : 17-01-12 Hindu Business Line Compiled by Amresh Anjan |
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| Attrition At Wipro Lowest In Eight Quarters |
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| Attrition at Wipro dropped 14.2 percent in the last quarter, its lowest in eight quarters. The company's executive vice-president Pratik Kumar said "New leadership and new structures have brought down the attrition rate. We conducted an employee perception survey inside the company, where we got a massive response from 75,000 employees." There was a 20 percent improvement in attributes such as quality of leadership, quality of organisation, diversity, sustainability, team work, long-term direction and other criteria. Also, employees are being given the freedom to suggest ideas. "Once you open up people's mind, what you get to see is amazing," Wipro CEO TK Kurien said |
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| Source : 20-01-12 Financial Chronicle Compiled by Amresh Anjan |
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| Fortune Magazine States That Google Is The Best Company To Work For |
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| Fortune magazine has named Google as the best company to work for in 2012 among 100 firms. The search giant climbed three spots in Fortune's "100 Best Companies to Work For" list. From revenue, profits, share price, paid search clicks, hiring to also employee love, everything was up for Google when compared to last year, Fortune said. Employees rave about their mission, the culture and the famous perks of the Plex: bocce courts, a bowling alley, eyebrow shaping (for a fee) in the New York office, according to the magazine. Boston Consulting Group, which invests 100-plus hours and thousands of dollars to recruit each consultant, was at second rank. Mercedes-Benz US was placed 12, DreamWorks Animation 14, Goldman Sachs 33, Adobe 65, Intel 46, Starbucks 73 and Microsoft 76. |
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| Source : 20-01-12 Financial Express Compiled by Amresh Anjan |
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| India Scores Over China In Nurturing Leadership |
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| A study has found India to be ahead of China when it comes to nurturing leadership talents. Indian businesses were also better at identifying/developing future talents, the study added. The study by talent management firm DDI, called Leadership at the Future's Edge, covered 2,600 companies in 74 countries. It found 60 percent or more of the Indian leaders to be more effective than their Chinese counterparts in five critical skills required for successful leadership. About 76 percent Indian leaders were better at identifying and developing future leaders compared to 56 percent of their Chinese counterparts. About 51 percent of Indian leaders were satisfied with the current quality of leadership, compared to a mere 38 percent of their counterparts in China. China scored better on retention, with a 59 percent rate compared to India's 49 percent. |
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| Source : 22-01-12 Financial Chronicle Compiled by Amresh Anjan |
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| India Ranks Sixth On GE's Innovation Barometer |
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| A survey has ranked India as the sixth most "innovative" country in the world. The respondents included 2,800 senior business executives in 22 countries, including 200 in India. The top enablers of innovation were talent ("creative" talent and people with technical expertise), financial support from public authorities and long-term support from investors, as per GE's Annual Global Innovation Barometer. Around 65 percent of the global respondents identified the U.S. as an "innovation champion", followed by Germany (48 percent), Japan (45 percent), China (38 percent), Korea (13 percent) and India (12 percent). Only 12 percent of the global respondents identified India among the top three innovation champions, compared to 23 percent of Indian respondents. However, intellectual property protection and research and development partnerships with academic universities were cited as key challenges in creating an innovation-friendly environment in the country. |
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| Source : 22-01-12 Financial Express Compiled by Amresh Anjan |
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| R.V Kanoria Takes Over As FICCI President |
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| R V Kanoria, chairman and managing director of Kanoria Chemicals and Industries, has taken over as president of the Federation of Indian Chambers of Commerce and Industry (FICCI). He has taken over this post from Harsh Mariwala. Naina Lal Kidwai, executive director on the board of Hongkong and Shanghai Banking Corp. and country head, HSBC India, was elected senior vice-president of the chamber and Sidharth Birla, chairman of Xpro India, was elected as vice-president |
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| Source : 19-01-12 Hindu Business Line Compiled by Amresh Anjan |
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| World Needs 600 Mn New Jobs In The Next Decade: International Labour Organization |
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| International Labour Organization sounded the alarm on the global jobs situation in its annual report and called for more coordination of fiscal policies, repair and regulation of the financial sector and support for the real economyThe ILO says there are nearly 200 million unemployed and that another 40 million jobs need to be created each year for the next decade. The report added that "To generate sustainable growth while maintaining social cohesion, the world must rise to the urgent challenge of creating 600 million productive jobs over the next decade, which would still leave 900 million workers living with their families below the $2 a day poverty line, largely in developing countries". Even under fairly benign conditions such as a quick resolution of the euro debt crisis, the ILO expects global unemployment to be stuck at about 6 per cent until at least 2016. The data was based on figures for mid- or end-2011 for most countries, although ILO officials use their own estimates for the two biggest countries, China and India. |
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| Source : 24-01-12 IBN Live.com Compiled by Amresh Anjan |
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| Toyota Cutting 350 Jobs In Australia |
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| Toyota Motor Corp is cutting 350 jobs at its Australian manufacturing operations due to an ongoing downturn in production levels, a rare move from the Japanese auto giant. Toyota Australia president Max Yasuda said the strength of the Australian dollar, which has traded at record highs above parity with the US dollar over the past year, was party to blame for the move.Toyota, which employs around 4,700 people in Australia, had seen vehicle production drop 36% in four years, from 149,000 in 2007 to an expected 95,000 in 2012."The reality is that our volumes are down. What we assumed was a temporary circumstance has turned into a permanent situation," Mr. Yasuda said in a statement. |
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| Source : 23-01-12 Hindustan Times Compiled by Amresh Anjan |
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| DLF Brands Names Operations & Strategy Head |
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| DLF Brands Ltd has announced that Dipak Agarwal would take over as the Chief Executive, Operations and Strategy for the brand. He has been associated with DLF Brands Ltd since its formation in 2008 as CFO and has tremendously contributed in the growth and success of the organization ever since. He has played a key role in facilitating the entry of international brands like DKNY, Boggi Milano, Mango, Sunglass Hut, ELC, Mothercare and Alcott to India. |
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| Source : 20-01-12 Exchange4media Compiled by Amresh Anjan |
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| Offers Outnumber Students At BIT Mesra |
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| Placements at Birla Institute of Technology, Mesra, got off to a flying start with two students receiving offers of Rs 56 lakh a year from software giant Microsoft. Almost 80 percent students have bagged jobs and the average annual salary has crossed the Rs 5.5 lakh mark, up from Rs 4.3 lakh last year. Around 1,200 students who will be graduating have received around 1,500 job offers from 65 reputable companies during the season which started in December. Cognizant, IBM, Wipro, Goldman Sachs, Deloitte and Yahoo were among the recruiters. The hiring suggests a surge in the software sector, with core engineering and automobile sectors also doing well. "It spells great news for our students enrolled in different undergraduate and postgraduate courses at BIT Mesra," said Prabhat Pankaj, assistant training and placement officer. The season will be on till April-May. |
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| Source : 19-01-12 The Telegraph Compiled by Amresh Anjan |
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| U.S. Manufacturers Moved High-Tech Jobs Overseas |
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| The U.S. National Science Board said the country has lost more than a quarter of its manufacturing jobs as domestic companies shift their R&D overseas. The number of high-tech manufacturing jobs in the U.S. has declined by 687,000, or 28 percent between 2000 and 2010, according to the report. Although the trend is often attributed to the cheaper wages in developing countries, China and other countries in Asia have attracted more sophisticated manufacturing operations and better jobs in recent years by expanding their engineering prowess through government investment in education and research. Since the start of 2010, manufacturing employment has grown 2.9 percent in the U.S. compared to 2.4 percent in Germany and 1.9 percent in Canada. |
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| Source : 20-01-12 Hindustan Times Compiled by Amresh Anjan |
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| IT And ITES Sector Likely To Give Single-Digit Pay Hikes |
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| Salary increments in the IT and ITES sector are likely to take a hit amid the uncertainty, with experts predicting only mid- to high single-digit increases. Increments were 11 percent to 15 percent last year. "In all likelihood, wage hikes will be in higher single digits next year and not in double digits. This is likely to happen for the whole industry," said V Balakrishnan, CFO of Infosys. These single-digit hikes will be reserved only for top performers. Average performers may not get a raise at all this year. "Hikes will be limited to 10 percent at best for top performers and those who are not amongst the top will not get hikes at all," says Sangeeta Lala of staffing firm TeamLease Services. The results of other IT companies in the coming days will perhaps give a clearer picture about salary increases in 2012. |
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| Source : 17-01-12 Financial Express Compiled by Amresh Anjan |
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| Talent Crunch Putting Brakes On E-Commerce |
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| Manpower crunch is becoming an obstacle in the growth of the e-commerce industry. Lack of talent and high attrition are issues that firms have to deal with. Take the case of online shopping site Tradus.in: Despite the company having several openings, it ends up turning down most candidates. Reason: rigid job requirements and finding the talent with relevant Internet experience, says Managing Director Krishna Motukuri. Lack of specialised courses for the sector is adding to the problem. Ashish Arora, founder and managing director, HR Anexi says, "E-commerce is the fastest-growing industry. Yet, there still appear to be very few courses available at the college or university level. This reduces the talent pool to choose from at the first stage itself." He adds that organizations ought to plan talent retention even before talent acquisition. It is important to map competencies, employee needs and workshops to upgrade skills. |
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| Source : 17-01-12 Business Standard Compiled by Amresh Anjan |
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| Bored Employees Develop Unhealthy Habits: A Study In UK |
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| A team from the University of Central Lancashire which looked at over 100 office workers in the UK found that when bored at work, most of them looked to munchies and caffeinated beverages to perk them up.They are also more likely to hit a bar once they punch the clock, researchers said. "We found that it's a mix between the demands of the job and the person's personality that contributes to if you are going to be bored or not," lead researcher Sandi Mann said. About 25 per cent of the participants of the survey indicated that they were bored most of the time. Those suffering from chronic boredom suffered more stress, remained more absent and developed a desire to quit. Almost 80 percent felt that being bored at work made them lose concentration, and more than 50 per cent felt it led them to making mistakes. About a third turned to alcohol at the end of a boring day. |
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| Source : 16-01-12 Financial Express Compiled by Amresh Anjan |
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| New CEO For Camson Bio Tech |
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| Camson Bio Technologies has appointed Mr. Santosh Nair as Chief Executive Officer of the company. In a release to the stock exchanges, the company said he is a science graduate with advance degrees in management from NMIMS and has 19 years of banking industry experience. |
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| Source : 16-01-12 Hindu Business Line Compiled by Amresh Anjan |
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| TCS To Continue Hiring Spree Despite Economic Slowdown |
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| Tata Consultancy Services Ltd (TCS) has offered jobs to 43,600 students through campus recruitment who will join in 2012-13. The number, the highest ever for the company, may be an indication that volume growth may make a comeback towards the latter half of 2012.India's largest information technology (IT) services company by revenue, which had 226,751 people on its rolls as on 31 December, had made 38,000 campus offers for the current fiscal year. Typically, about 70% of all campus offers are accepted.TCS had said it would hire 60,000 staff for this fiscal year; it has hired 51,000 people so far and is likely to add another 15,000 in the current quarter. |
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| Source : 19-01-12 Livemint Compiled by Amresh Anjan |
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