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Naukri Job Speak Index For April- 12 Grew By 12% As Compared To The Previous Year The first month of the financial quarter starts on a positive note with hiring activity moving up by 2% in Apr-12 when compared to Mar-12. Most sectors do not indicate slackening on the recruitment front with IT sector hiring surging over the last few months. The index for IT sector in April-12 at 1400 is the highest since inception and hiring activity is 18% higher when compared to Mar-12. An in-depth analysis of the job index shows that both IT and Telecom sectors have seen movement on the recruitment front with their indices moving up by 6% respectively in Apr-12 as compared to the previous month. Banking, Auto and Capital Goods sector maintained steady hiring levels this month while Oil & gas sector saw a dip of 10% in hiring activity when compared to Mar-12. Construction and Engineering however has seen dipping hiring numbers over the last few months. Source : 05-05-12 Naukri.com Compiled by Amresh Anjan Financial Sector May Limit Hikes To Single Digits Salary hikes in the banking, financial services and insurance (BFSI) sector are likely to be in single digits because of the weak economic environment. Compensation hikes would be marginal and likely to be in a single digit, that too to offset inflation, said Vinay Grover, CEO, Symbiosis Management Consultants. Hefty bonuses or variable component have almost vanished. Salaries have come down 20 percent to 40 percent on an average, depending on seniority. Foreign banks and investment bankers have been struggling to continue operations. Recent lay-offs indicate all is not well within the sector, Mr. Grover said. In India alone, foreign banks such as HSBC, Citibank, UBS and Nomura have laid off a large number of employees, he said. Ajay Shah, TeamLease Services general manager, team BFSI, said India's economic situation and the global recession had caused turmoil in the market. Source : 06-05-12 Financial Chronicle Compiled by Amresh Anjan Realignment Spells Role Change For 90 General Motor Techies General Motors (GM) is moving 90 employees at its India Science Lab to its Bangalore-based Technical Centre. The lab carries out mathematical modelling and software work. This is not a lay-off exercise, the company said. According to P Balendran, vice president at GM India, work at the lab is being realigned with the centre, which has 2,000 employees. Employees have the option of picking a position at the centre or leaving. They may be placed in other divisions at the centre, such as design, powertrain development and engineering, apart from a global purchasing office. The move may be part of the realignment and restructuring being carried by GM, enabling it to efficiently managing its global engineering workforce. In the U.S., too, GM may be cutting about 100 positions at its Warren Technical Centre in Michigan. Source : 03-05-12 Hindu Business Line Compiled by Amresh Anjan India, China New Job Destinations For Westerners India and China hold immense opportunities for professionals from the West, according to Nirmalya Kumar, professor of marketing at London Business School. He highlighted the changing trend of westerners looking to the East for work, while traditionally Indians and Chinese eye jobs in the West. Multinational companies are expanding rapidly into new markets, opening up opportunities for westerners. People need to be moved from the West to the East, and it has to be made easier. China and India should be as open to westerners as westerners have been to Indian and Chinese immigrants, he said in Dubai during a presentation on the emergence of growth economies and corporate giants. The Indian government needs to make it easier for Europeans and Americans to get work visas. India was also capable of moving beyond services, Mr.Kumar added. Source : 04-05-12 The Asian Age Compiled by Amresh Anjan Euro Zone Jobless Rate At 15-Year High Unemployment in the euro zone reached 10.9 percent in March, the highest in 15 years. Economists said the situation would further deteriorate as the impact of the debt crisis ripples across the region. The jobless rate increased by a tenth of a percentage point from February in the 17 euro zone nations, showed a report by Eurostat, the European Union (EU) statistics office. Around 17.4 million people are unemployed and 24.8 million out of work across the 27-nation EU, where unemployment remained at 10.2 percent. There is a likelihood of the rate moving above 11.0 percent in the coming months, perhaps even reaching 11.5 percent. Source : 04-05-12 Hindustan Times Compiled by Amresh Anjan Survey Highlights Desperation To Work From Home A poll conducted by online communications provider TeamViewer found that people are ready to give up a lot, from spouses to daily showers, to be able to work from home. The findings are based on the responses of 2,630 people above the age of 18. About 12 percent of people polled said they would forgo daily showers in order to telecommute. Five percent said they would divorce their spouse, and 34 percent said they would be willing to give up social media and 30 percent would give up texting. Around 17 percent of the respondents were willing to forgo a hike in order to work from home. And 15 percent were ready to cut their vacation days by half. Around 54 percent of the respondents thought they would be at least as productive working from home as they were from the office. Source : 04-05-12 Financial Express Compiled by Amresh Anjan India Stays Ahead In Consumer Confidence India remained the most optimistic market in terms of consumer confidence in a Nielsen survey, but there was still some caution on the spending front. The survey pointed to an increase of 1 point in consumer confidence, to 123. This is the ninth consecutive quarter when India has retained the tag of being the world's most optimistic market. However, job security was still a cause for worry and consumers are still cautious when it comes to spending spare cash, according to Justin Sargent, managing director, Nielsen India. India is followed by Saudi Arabia at 119 and Indonesia and the Philippines at 118. Confidence in the first quarter of this calendar year improved in 38 out of 56 markets. It was down in 16 markets and remained flat in two, the report said Source : 02-05-12 Hindu Business Line Compiled by Amresh Anjan Low Hikes May Drive Attrition Up To As High As 31% Attrition rates are likely to be as high as 31 percent during the June quarter as employees unsatisfied with annual salary hikes would look to switch jobs. The average attrition rate being projected is sharply higher compared to a rise of 9 percent to 10 percent in the preceding quarter. In April-June 2011, the average attrition rate was 27 percent. Attrition is expected to go up in the corresponding three-month period this fiscal because employees would have received their annual appraisals. Those not satisfied with their performance review or salary hikes would want better opportunities. Employees had expected hikes of not less than 20 percent, said Rishi Raman, CEO and managing director, Ripples Consultancy Services. Employers need to take alternative steps to retain talent, such as providing career opportunities and a suitable work environment. Source : 02-05-12 Financial Chronicle Compiled by Amresh Anjan IIM Indore Student Gets Rs 53 Lakh Offer The final placement for the class of 2012 at the Indian Institute of Management, Indore, saw a Singapore-based infrastructure advisory firm making an offer of Rs 53 lakh per annum to a student. Another student was offered an annual package of Rs 32 lakh by a leading European investment bank, an IIM Indore spokesman said. Almost all the top companies from several sectors participated in the process this year. The average annual package was higher by around 11.5 percent. A total of 443 students completed the institute's flagship postgraduate programme in 2010-12. Of these, 434 received job offers in different sectors. About 26 percent of the students won jobs in consultancy while 18 percent opted for finance, 28 percent marketing and sales and others for IT and operations and general management. Source : 02-05-12 The Pioneer Compiled by Amresh Anjan Profile & Higher Pay, Add Sheen To Temporary Jobs Youngsters are quitting their permanent jobs and joining temping or staffing companies, lured by challenging roles and higher pay. Big companies such as IBM, Maruti Suzuki, Bharti Airtel and ICICI have of late been paying their temporary staff more. As a result, the gap between temp and permanent staff pay is narrowing. From 12 percent to 15 percent two years ago, the difference is now just 4 percent to 5 percent, says Sangeeta Lala, vice-president of staffing company TeamLease Services. The firm has expanded to 70,000 employees from 58,000 in 2008. Temp staffing firms typically keep shifting their staff from one organisation to another whenever the client concerned needs workforce. The staffing industry is still at a nascent stage, says Basudev Mukherjee, executive director, Indian Staffing Federation. It spans across manufacturing, consumer durables, retail and the automobile sector. Source : 02-05-12 Financial Express Compiled by Amresh Anjan ICICI Securities Picks CDR Chief From Reliance Cap ICICI Securities has named L Govind head of structured products and corporate debt restructuring (CDR). Most recently, Mr. Govind was with Reliance Capital, monitoring its debt and equity investments in companies. Also, Mr. Govind is a visiting faculty at the Institute of Chartered Accountants of India (ICAI) and Institute of Company Secretaries of India (ICSI). He holds a post-graduate diploma in management from IIM-Lucknow and also a BE degree in Mechanical Engineering from Vikram University, Ujjain. Source : 04-05-12 VC Circle Compiled by Amresh Anjan Lufthansa To Cut 3,500 Jobs To Reduce Costs Lufthansa airlines will cut full-time jobs in administrative departments worldwide over the next few years. The news came as its loss narrowed to 379m euros ($498m; Ł308m) in the first quarter, from a loss of 507m euros in same period of 2011.Lufthansa blamed higher fees and taxes, even as quarterly revenues rose by 5.6% to a record 6.6bn euros. These included an air traffic tax imposed in Germany and Austria and the costs of carbon emissions trading in Germany."Higher taxes, fees and charges put a massive strain on our quarterly result," said Christoph Franz, chairman of Lufthansa AG. "We cannot wait until politicians also recognise the damage that one-sided taxes and charges do to aviation and to Europe's reputation as a place to do business." Lufthansa said that fuel costs had risen by 304m euros in the past year.Last month, Lufthansa completed the sale of loss-making UK airline BMI to IAG, the company that owns British Airways and Iberia. Source : 04-05-12 Hindustan Times Compiled by Amresh Anjan |
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