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Industrial Relations Suffering Due To HR Focus Shift The violence at Maruti Suzuki India's Manesar plant which claimed the life of HR executive Awanish Kumar Dev is a reflection of a breakdown of communication between top management and workers. It highlights the decline in industrial relations (IR) among HR practitioners in India. Young HR professionals are more interested in managerial positions, says SY Siddiqui, COO administration, Maruti Suzuki. That is the natural shift that has happened. Most of the HR talent has gone to the services sector. The trend has been seen in Japan, China and Indonesia, where shop-floor assignments are on the decline. HR has been focusing more on areas such as organisational development, strategic initiatives and leadership pipeline management. They have taken the eye off the ball in IR, says Aquil Busrai, an HR veteran with 30 years at Unilever, Shell and IBM. Source : 23-07-12 Business Standard Compiled by Amresh Anjan Demand For Risk Professionals On The Rise Companies with an eye on managing risk are increasingly hiring risk managers. Demand for these professionals has increased by at least 30 percent to 40 percent. Companies are now looking at specialists to dig deeper into all the facts. Talent across skill sets is being recruited as risk managers, says Mritunjay Kapur, country managing director, Protiviti Consulting. Risk managers carry out risk assessments tests in a company. They could be generalists with a CA degree or specialists in sales and marketing. Their responsibilities range from presenting the internal audit report to the board of directors to having a say in the functions of the organisation. Large companies have three to four people as risk managers. People in the core operations area are the most sought after. A manager about 28 years old can expect some Rs 25 lakh per annum. Source : 23-07-12 Business Standard Compiled by Amresh Anjan Survey: Business Confidence Down In June A survey by the Associated Chambers of Commerce and Industry (ASSOCHAM) says the macroeconomic situation of the past six months has led to a sharp decline in business confidence in June. As many as 51.6 percent respondents said the situation is worse than six months ago. However, a majority expected it to improve in the next six months. Some 36 percent felt profits would shrink during the period. However, more than 40 percent respondents said investment would not change in the next two quarters from the present level. A large majority felt prices will remain stable. The country's GDP growth fell to 6.5 percent during 2011-12, with fourth quarter growth dropping to 5.3 percent, the slowest in the past nine years. ASSOCHAM polled 1,000 companies in sectors including manufacturing, finance and IT. Source : 22-07-12 Asian Age Compiled by Amresh Anjan TCS Pips Infosys In Employee Utilization Tata Consultancy Services (TCS) has surpassed Infosys in terms of employee utilisation, volumes and deal pipeline. Currently, TCS has an 81 percent to 83 percent employee utilisation rate. By comparison, at Infosys utilisation ranges from 67.2 percent to 71.6 percent. The number of people on the bench at Infosys is also greater. This is largely due to the kind of clients in the TCS portfolio. IT has won eight large deals, one of them above $100 million. Infosys added 51 clients, but most were in the $1 million-plus range. In terms of volume growth, defined by the number of people billed, TCS was higher at 5.3 percent compared to Infosys where volumes grew 2.7 percent. TCS is also expected to achieve NASSCOM's growth estimate of 11 percent to 14 percent for FY13, but Infosys may grow 5 percent. Source : 19-07-12 Hindu Business Line Compiled by Amresh Anjan British Gas Mulls Off Shoring Jobs To India British Gas is planning to move more jobs to India as more positions are made redundant in its office in Leicestershire, Financial Chronicle reports. The cuts are part of efforts to keep gas and electricity prices low. The company has launched a 90-day consultation period with 300 members of staff and employee unions, reports from Leicester said. The energy supplier did not confirm how many jobs will be lost or where they will be moved, but trade union Unison said they will be shifted to India. A spokeswoman announced that the company had explored alternative options, but would now be moving forward with the offshoring of a number of non-customer facing roles from the Leicester office. British Gas employs about 2,000 people in Leicestershire. Those who might be affected are in administrative positions dealing with business customers. Source : 18-07-12 Financial Chronicle Compiled by Amresh Anjan Tata, Wipro Among Top H-1B Gainers In 2011 Companies such as Tata, Wipro and IBM India, which provide IT professional and technical services to U.S. clients, account for a large chunk of H-1B visa applications. Half of the requests by top 25 employers came from those with headquarters outside the U.S., the Brookings Institute said in a report on H-1B visas. Most visa holders come from the science, technology, engineering and maths fields, and mostly Asian countries. According to the report, the highest demand for these visas was for the New York metropolitan area, that is, nearly 53,000 on average over 2010-11. This translated into more than 16 per cent of national demand. The highest number of applicants granted H-1B visas in 2011 came from India, the latest report by the Department of Homeland Security said. This accounted for 58 percent of all approved petitions. Source : 17-07-12 Financial Express Compiled by Amresh Anjan Hyundai Marketing Head joins Volkswagen German car maker Volkswagen AG has asked Hyundai India's marketing head Arvind Saxena to come on-board to manage its passenger cars business. He will replace Neeraj Garg, director and member of the board. Source : 20-07-12 Business Standard Compiled by Amresh Anjan Planning Commission rules out 9% growth Achieving an average growth rate of 9 percent in the next five years is not possible, said Montek Singh Ahluwalia, deputy chairman of the Planning Commission. Given the worsening global economic situation over the last one year, growth may even be 8 percent to 8.5 percent. He said an average of 9 percent in the 12th Plan (2012-17) was difficult to achieve. Somewhere between 8 percent and 8.5 percent was feasible, Ahluwalia added. He was speaking on the sidelines of a conference of state planning boards and departments. Last year, the commission had got approval for a 9 percent annual average economic growth target in the 12th Plan Approach Paper. The world economy had deteriorated sharply since. The rate of growth this fiscal, the first year of the 12th Plan, is 6.5 percent to 7 percent, he said. Source : 18-07-12 Mint Compiled by Amresh Anjan Indians Prefer Security, Nice Colleagues To More Pay A Randstad Workmonitor survey for the second quarter of 2012 says that a majority of Indians are willing to trade a higher salary for job security and pleasant colleagues. Around 82 percent of the employees surveyed in India attach a premium to pleasant colleagues. The number is the second highest in the world after China. The world average is about 60 percent. However, some 68 percent say a better salary is more important than enjoying the work they do. The findings are based on 400 online interviews in more than 32 countries. A salary is often not enough to keep employees happy, says Randstad India managing director and CEO E Balaji. HR managers need to create a sense of community at the workplace. Source : 18-07-12 Financial Chronicle Compiled by Amresh Anjan Temp Staffing Trend Gains Ground Amid Uncertainty In US A growing number of businesses in the U.S. are turning to staffing companies for temporary workers with the economic outlook worsening. Data from the Labor Department shows that the number of people on the payrolls of temp-staffing businesses increased to 2.5 million in June, an increase of 10.7 percent from a year ago and the biggest increase since May 2011. Companies are looking for more flexible staffing arrangement, says Tobey Sommer, director equity research, SunTrust Robinson Humphrey. A not-so-easily forgotten recession has made employers wary of hiring, he adds. A "historically disproportionate" share of new jobs is coming from temporary staffing, according to Michael Blackman, chief corporate development officer for Kforce, a Florida company. A shortage of highly skilled candidates in IT and "extraordinary uncertainty" among employers is leading them to seek temp resources, he says. Source : 17-07-12 Financial Chronicle Compiled by Amresh Anjan IMF Trims India's Growth Outlook To 6.1% The International Monetary Fund (IMF) has lowered India's growth forecast for the current financial year to 6.1 percent from 6.8 percent projected in April. For 2013, the IMF's World Economic Outlook report has lowered the forecast to 6.5 percent, from 7.2 percent forecast in April. Global growth has shown further signs of weakness. The forecast for 2012 has been trimmed to 3.5 percent from 3.6 percent projected earlier. Similarly, the 2013 forecast has been reduced to 3.9 percent, which is slightly lower than the 3.6 percent projected in April. Growth has slowed in a number of major emerging market economies, notably Brazil, China and India. Many of these economies have also been hit by increases in investor risk aversion and perceived growth uncertainty. This has led to a decline in equity prices, and reduced capital outflows and resulted in currency depreciation. Source : 17-07-12 Hindu Business Line Compiled by Amresh Anjan Consumer Confidence Falters As Job Prospects Fade A survey by Nielsen found that consumer confidence in India fell for the first time in nine quarters. The consumer confidence index fell four points from the first quarter of 2012 to 119. The country is still at No. 2 in the list of most confident countries in the world. The drop from the top position for India after nine quarters indicates a growing anxiousness among consumers regarding job prospects and spending habits, said Piyush Mathur, president, Nielsen India. Rising inflation and fuel prices which directly affect the wallet, along with a comparatively low GDP and fall of the rupee, have had an adverse impact on consumer confidence. India still ranks at the top when it comes to job prospects, but the index has declined seven points to 77 during the quarter, he said. Source : 30-11-99 Hindu Business Line Compiled by Amresh Anjan Hinduja Global Looks To Expand Workforce Hinduja Global Solutions (HGS) is planning to hire 2,000 to 3,000 people this financial year. The company has about 24,000 employees in 51 centres across 11 countries including India, the U.S., Canada, the Netherlands, France, Germany and Italy. The BPO firm has been relatively unaffected by the global economic crisis. It plans to start new operations in Jamaica and Columbia and in West Asia. CEO Partha De Sarkar said HGS will provide services to one of the largest banks in Jamaica with 50 people by end of this month. It will also serve as a near-shore option for some of the clients in the U.S. and Canada. While companies across the world are cutting costs, companies such as HGS are gaining businesses from public sector firms and retailers in the U.K. and consumer electronics companies in Canada. Source : 17-07-12 Hindu Business Line Compiled by Amresh Anjan |
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