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Services Continue To Drive Employment Growth The job market is expected to beat the slowdown blues as companies strive to maintain growth, E Balaji, managing director and CEO of Randstad India. However, industry is suffering on account of inflation and a weakening rupee. In spite of this, the services sector, which contributes about 59 percent of India's GDP, has shown no sign of slowing. Activity in the sector grew slightly in April on the back of a rise in new business. This supported a marginal increase in sequential employment growth. Expansion in India's job market is largely dependent on its services sector. The sector, however, is dependent on the growth of the manufacturing sector in India and abroad. A lot will depend on the macroeconomic environment, and the government's policy initiatives, for industries to generate more jobs and growth. Source : 27-05-12 Financial Chronicle Compiled by Amresh Anjan Downturn No Damper For Fresh Mbas, IIT Grads Job prospects for graduates of premier institutes remain bright. The slowdown has not affected hiring from premier institutes, says B Nagarajan, deputy registrar, training, placement and public relations at the Indian Institute of Technology, Madras (IIT-M). The number of companies visiting the campus has increased 80 percent, from 220 companies last year to 400 this year. Thus indications of any slowdown, at least at the IIT-M campus, are missing. With jobs in most developed nations becoming scarce due to the recession, demand for MBAs has been affected. However, that does not hold true for premier institutes. Recruitment numbers from the Indian Institute of Management, Ahmedabad, have remained consistent, with most students being hired. At the Loyola Institute of Business Administration, Chennai, almost the entire batch has been placed. Average salaries have risen to Rs 8.33 lakh, up 12 percent. Source : 27-05-12 Financial Chronicle Compiled by Amresh Anjan Citibank and Ford to up India headcount Citibank is planning to hire 2,000 professionals during the year. India remains a key market for Citi, and the bank would continue to hire, Anand Selvakesari, country business manager, global consumer group, Citibank India said. Citi will also visit business schools to hire fresh management trainees and summer interns. Also on the cards is hiring fresh graduates from colleges. Ford too has India expansion plans. It will be recruiting 700 people for its two units, Ford India and Ford Global Business Services. It plans to increase its headcount by the end of this year. Ford has previously recruited 90 business school graduates and 45 engineering graduate trainees. Ford India has invested close to Rs 4,000 crore in its vehicle and operations plant in Sanand, Gujarat. It will recruit 5,000 direct employees for the project over time. Source : 25-05-12 Hindustan Times Compiled by Amresh Anjan Demand For Project Managers Set To Boom India needs at least five lakh project managers in the next few years. Citing an Indicus report, Craig Killough, vice-president organisation markets, with standards and certification body Project Management Institute (PMI), says the overall supply currently is about 96,000 and may top 2,15,000 by the year-end. There are around 30,000 certified project management professionals in India, of which 12,500 are PMI members. PMI creates standards for organisations to develop methodologies for executing projects, programmes and managing their portfolio. It also creates global standards and frameworks to guide businesses. Globally accepted standards and credentials provide a common operating framework for companies, and also a common lexicon and language for people to communicate in. PMI also defines roles such as project manager, programme manager and portfolio manager, generates global studies. Source : 25-05-12 Financial Express Compiled by Amresh Anjan Future Generali Scales Down Operations, Trims Workforce Private insurer Future Generali Life has seen its workforce shrink by a third and its branch network by 30 percent.. The insurer has cut branches by 55 since April, from 180 on March 31 to 125 now. As on April 30, the total headcount stood at 2,750, compared to 3,150 a month ago, as per company data. Several positions such as zonal heads and channel heads have been abolished and cuts have been made in the number of regional managers, area managers, branch managers and sales managers. However, Deepak Sood, managing director and CEO, downplayed the scaling back, saying there was a natural level of attrition. The company was focusing on quality than quantity and merging and downsizing its loss-making branches. Future Generali Life has been promoted by the Kishore Biyani-led Future Group. Source : 23-05-12 Business Standard Compiled by Amresh Anjan Future Generali Scales Down Operations And Trims Workforce Private insurer Future Generali Life has seen its workforce shrink by a third and its branch network by 30 percent.. The insurer has cut branches by 55 since April, from 180 on March 31 to 125 now. As on April 30, the total headcount stood at 2,750, compared to 3,150 a month ago, as per company data. Several positions such as zonal heads and channel heads have been abolished and cuts have been made in the number of regional managers, area managers, branch managers and sales managers. However, Deepak Sood, managing director and CEO, downplayed the scaling back, saying there was a natural level of attrition. The company was focusing on quality than quantity and merging and downsizing its loss-making branches. Future Generali Life has been promoted by the Kishore Biyani-led Future Group. Source : 23-05-12 Business Standard Compiled by Amresh Anjan Monnet Ispat & Energy Picks CEO For Mining Ops Monnet Ispat & Energy Ltd has appointed Mr N.C. Jha as Chief Executive Officer for its mining business operations.Mr Jha retired recently as Director-Technical at Coal India Ltd and held the additional charge of Chairman of the coal major. "We are delighted to welcome Mr Jha to spearhead the mining operations at Monnet Group. Mr Jha's appointment has happened at an opportune time as Monnet Group is substantially scaling up the mining operations in India and abroad," said Mr Sandeep Jajodia, CMD, Monnet Ispat. Source : 21-05-12 Hindu Business Line Compiled by Amresh Anjan RIM To Slash Around 2,000 Jobs BlackBerry-maker Research In Motion (RIM) is likely to slash around 2,000 jobs worldwide as part of a massive restructuring plan that will begin in the next couple of weeks. RIM, which has about 16,500 employees worldwide at present, had announced in July last year to reduce its workforce by 2,000.The report said the layoffs and executive departures would sweep across departments, ranging from senior positions in RIM's legal division to human resources, finance, sales and marketing. Source : 29-05-12 IBN Live.com Compiled by Amresh Anjan BPO Employees To Feel The Pinch As Earnings Fall India's $17 billion business process outsourcing (BPO) sector is in trouble. Financial results of the last quarter show that profits have dropped by up to 50 percent. Numbers from the top players paint a dismal picture. Firstsource Solutions reported a 39.7 percent year-on-year decline in profit. Hinduja Global Solutions posted a flat growth in profit. According to the Monster Employment Index released recently, the BPO/ITeS sector was among the most sluggish. Index for the sector dipped 4 percent in April compared to the same month last year. BPO employees are used to extra benefits, perks and foreign travels, which have drastically come down, says Ronesh Puri, managing director of Executive Access. HR is going to have a tough time in the BPO industry. Source : 27-05-12 Financial Express Compiled by Amresh Anjan Job Prospects Bright In Animation, Hospitality Animation, hospitality and travel and tourism hold lucrative employment opportunities for youngsters. According to a joint report by the Federation of Indian Chambers of Commerce and Industry and KPMG, the animation and VFX industry has witnessed an overall growth of 13.6 percent over 2008 and is expected to grow at a compound annual growth rate of 18.7 percent. This sector will need a highly skilled and trained workforce that combines technical and artistic capabilities. The Indian hospitality industry too offers substantial job prospects. Graduates from catering institutes can apply for positions in food and beverage or front office, apart from housekeeping, engineering or finance. The travel and tourism sector, too, offers a host of options. It is expected that the number of jobs in the industry will grow to seven million over the next decade. Source : 25-05-12 Hindustan Times Compiled by Amresh Anjan Jyothy Laboratories Appoints CEO For Henkel To Make It Profitable Jyothy Laboratories would appoint ex-Hindustan Unilever official S. Raghunandan to head Henkel India. Prior to joining JLL, this former Hindustan Unilever senior official had served as the managing director of Reckitt Benkiser India. He had also worked at senior levels with FMCG companies such as Paras Pharmaceuticals and Dabur India. Source : 23-05-12 Financial Chronicle Compiled by Amresh Anjan HP To Cut 27,000 Jobs To Save Up To $3.5 Billion Annually Hewlett-Packard Co. is cutting 27,000 jobs in an effort to recover from management missteps that hobbled the Silicon Valley pioneer as its rivals raced ahead with more innovative products and services. The cuts come eight months after HP hired Meg Whitman as CEO to turn the company around. The company expects to save $3 billion to $3.5 billion annually from the job cuts and other austerity measures. Source : 25-05-12 NDTVprofit.com Compiled by Amresh Anjan Larsen And Toubro To Scale Down Hiring - Mr Naik Construction and engineering company Larsen and Toubro Ltd which hired around 5,000 people in 2011-12, will go slow on hiring in the current financial year on account of cost optimization. Mr. AM Naik CMD of L&T told that "We will not be hiring 5,000 people as we are right now on a cost optimisation drive. In certain areas like infrastructure and others, we are growing. There, we will add 2,000 to 3,000 people."In the last financial year, wage hikes and increase in manpower pushed up L&T's staff costs by 29% to INR 3,664 crore from INR 2,830 crore the year before.The company will give greater focus to its international operations and step up hiring abroad, especially in West Asia, in 2012-13. Source : 25-05-12 steelguru Compiled by Amresh Anjan IT, ITES and Retail Companies Hiring Temporary Staffers According to a latest update, numerous companies across the information technology (IT), IT-enabled services and retail sectors are hiring more temporary staffers. Moreover, companies are cutting the number of permanent employees on their rolls and even for temporary hires, companies are going for multiple rounds of interviews, psychometric and other assessments tests. According to a senior vice president of a renowned staffing firm, they adding 7,000 temporary employees a month, but are down by 35 per cent permanent staffers in the past few months compared with the same period last year. Source : 25-05-12 Itvoir.com Compiled by Amresh Anjan Indusind Bank Appoints New Additional Director IndusInd Bank has announced the appointment of Mr R.S. Sharma as 'Additional Director' in the board of the bank.He was the former Chairman and Managing Director of Oil and Natural Gas Corporation Ltd (ONGC).Mr Sharma is a Fellow Member of the Institute of Cost & Works Accountants of India and an Associate Member of the Indian Institute of Bankers. Source : 23-05-12 Hindu Business Line Compiled by Amresh Anjan |
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