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62% Recruiters Anticipate New Jobs To Be Created In The Second Half Of 2012: Naukri.com Hiring Outlook Survey Concerns of a global economic crunch and rising inflationary pressures are acting as a caution sign for India Inc. A survey conducted by Naukri.com with 1000+ recruiters across India revealed a dip in hiring sentiment across sectors. A similar survey last year showed that 80% recruiters had anticipated addition of new jobs in 2011, while this year only 62% recruiters have said that new jobs will be created in the second half of 2012. In Jan- 12 when the survey was done last about 72% had said that new jobs will be created in 2012. However, the sentiment has further dipped over the last six months. On the flip side, recruiters reported a talent shortage, demonstrating the fact that hiring, managing and retaining talent continues to be a challenge for recruiters. Source : 01-08-12 Naukri.com Compiled by Amresh Anjan IT Bench Strength Up 25% In A Year Curtailed IT spending and delays in projects have led to a dramatic increase in bench strengths in big IT companies. Nearly 150,000 employees in the top three Indian IT companies were benched in the June quarter. This is up 30,000 from a year ago, an increase of 25 percent. Utilisation rates were down, too, with Tata Consultancy Services reporting 81.3 percent utilisation, minus trainees, during the quarter. In the previous year, it was 83.2 percent. The reason behind the trend is project delays in banking, financial services and insurance in the U.S. and European markets, the prime source of revenue. At Infosys and Wipro, respective utilisation rates were 71 percent and 68.3 percent. About 43,000 and 42,000 employees, respectively, are estimated to be on the bench. Source : 29-07-12 Financial Chronicle Compiled by Amresh Anjan Alcatel Lucent To Cut 5,000 Jobs Globally Alcatel Lucent is looking to reduce its headcount by 5,000 globally and exit non-profitable markets. The company plans to save €1.25 billion by the end of 2013. The company announced a series of measures to reduce its costs after it reported a net loss of €254 million for the quarter ended June 30, 2012. Revenues during the period declined 7.1 percent. Owing to the deteriorating macro environment and the competitive pricing in certain regions, there is need to undertake transform more aggressively, CEO Ben Verwaayen said. The telecom equipment maker employs 10,000 people in India and manages half of fixed and CDMA wireless lines in the country. It was not immediately known whether the announcement will have any impact on its India operations. A spokesperson declined to say where these reductions will be effected. Source : 28-07-12 Financial Express Compiled by Amresh Anjan Researchers Develop Measure For Boss Arrogance Scientists have developed a new tool which can help identify arrogant bosses. Researchers say arrogant bosses can drain the bottomline because they are typically poor performers who cover up their insecurities by disparaging subordinates. Researchers at the University of Akron and Michigan have developed The Workplace Arrogance Scale. The test asks questions such as whether the boss demonstrates different behaviours with subordinates and supervisors, says Stanley Silverman, dean of UA's Summit University Colleges. A "yes" response spells trouble and signals arrogance. Mr. Silverman says arrogance is correlated with lower intelligence scores and lower self-esteem. Left unchecked, arrogant leaders can be a destructive force within an organisation, spreading negativity. Such bosses do not mentor junior colleagues, nor do they motivate a team. Arrogance can be addressed through coaching if a leader is willing to take it. Source : 28-07-12 Financial Express Compiled by Amresh Anjan Astrum Homes Hires COO Astrum Homes, a private equity-funded real estate development firm, has appointed Irenaeus Vincent as COO. He has more than 30 years of experience in the international real estate development sector. Source : 28-07-12 Hindu Business Line Compiled by Amresh Anjan Sun Group's CEO Puts In His Papers Sun TV Network Ltd's group chief executive officer Tony D'silva has decided to step down by the end of the month. The media company is yet to decide on a successor. Mr. D'silva joined as chief operating officer of Sun Direct, the direct-to-home television arm of Sun TV Network, in 2007 and was later elevated as CEO of the company. Before joining Sun Direct he had a stint with Star India as its head of distribution. Source : 24-07-12 Mint Compiled by Amresh Anjan EPFO Portal To Make Claim Settlement Easier The Employees Provident Fund Organisation (EPFO) has launched its website, allowing more than 50 million subscribers to access their accounts online. To avail this facility, the active subscribers would have to register themselves on the EPFO portal by furnishing their account details. An e-passbook will be available for active EPFO members. It will not be available to those whose accounts are inoperative, settled or have a negative balance. EPFO is also introducing a facility of online settlement of provident fund claims in a couple of months, Central Provident Fund Commissioner RC Mishra said. At present, subscribers can apply only manually for claims, which is time-consuming. These claims take more than the mandated one month to settle. To process claims online, EPFO would require a central database, Mr. Mishra said. At present, databases are maintained separately at regional EPFO offices. Source : 24-07-12 Financial Chronicle Compiled by Amresh Anjan Small, Midsize IT Firms Ride Out Slowdown Industry body NASSCOM said small and midsize IT companies have performed well, posting up to 20 percent growth. These companies were hit most by the 2008 downturn and changed their business strategy, which has paid off, says NASSCOM President Som Mittal. The fundamentals of the domestic IT industry are strong. While the U.S. and U.K. remain the biggest markets, companies are looking at newer geographies. Many are also looking at leveraging mobile platform and cloud computing to remain competitive. Mr. Mittal says it is unlikely companies' recruitment plans would head downward this year. Campus hiring has had a good run. The majority of those who got offers in 2011 and graduates of 2012 would get on board by March. He expects the hiring pattern of on-campus, off-campus and lateral followed by global at the end to continue. Source : 25-07-12 Financial Chronicle Compiled by Amresh Anjan Gujarat Trails Andhra, Uttar Pradesh In SME Jobs Gujarat stood 14th in job creation among states despite being home to the largest number of small and medium enterprises (SMEs). A survey by the Associated Chambers of Commerce and Industry said the state has generated a little more than 8,000 jobs between April 2011 and February 2012, well behind economically weaker states such as Bihar, Odisha, Assam, Uttar Pradesh and Madhya Pradesh. West Bengal was at the top, generating 43,000 jobs, followed by Andhra Pradesh at 33,115 and Uttar Pradesh at 30,880. Some 8,058 jobs were generated in Gujarat. The state government assisted about 1,494 SMEs utilising a margin money subsidy topping Rs 52 crore. In fact, Gujarat trailed Jammu and Kashmir and Kerala, which created 9,800 and 12,400 jobs, respectively. Gujarat has 300,000 SME units, each with 10 to 15 employees on an average. Source : 23-07-12 Indian Express Compiled by Amresh Anjan Uninor Cuts India Services, May Sack 2,000 Globally Some 2,000 jobs in Uninor stand to be affected as the operator curtails its services in the country. Operations in Kerala, Karnataka, Tamil Nadu and Orissa circles will be cut and the 400 employees affected would be relocated to other circles, the company said. It has 6.8 million subscribers in these circles, but only 47 percent use the network. Uninor has been hit by the Supreme Court order and has tried every possible measure to take its business forward. However, the decision to shed jobs was difficult but had become necessary, Managing Director Sigve Brekke said. The move would allow it to break even by 2013 instead of 2015. This would make Uninor self-financing, Jon Fredrik Baksaas, Telenor's group CEO, said in Oslo. It has managed to cut its India operating losses to Rs 569 crore in the April-June quarter Source : 25-07-12 Financial Express Compiled by Amresh Anjan Employers Put FB Profiles Of Candidates Under Lens New research has found that Facebook profiles are increasingly being used by employers to screen candidates. U.S. scientists have found that the social networking site, which displays the user's lifestyle, attitude and even appearance, is being used to eliminate unsuitable candidates. Vanessa de la Llama of the Florida International University, North Miami, said employers are using the website as a screening tool. The trend has been visible in the IT, healthcare and wellness, education, law enforcement, food and drink, travel and advertising industries. This has led to the debate on the issue of whether or not employers should be using social networks to filter candidates. A question that must be asked is whether employers are assessing on the online "image" ahead of interviewing candidates, researchers involved in the study said. Source : 25-07-12 Hindu Business Line Compiled by Amresh Anjan Global IBank Moelis & Co Enters India, Hires Manish Girotra As India CEO Manisha Girotra, former head of UBS in India, has joined Moelis & Company, an investment bank founded in 2007 by Ken Moelis, her former boss at the Swiss bank.Mr. Girotra, who quit UBS as its CEO and country head in India last November, will head Moelis & Company in India as the firm plans to advise large Indian corporate houses on cross-border deals and initial public offerings.. Source : 12-07-12 Financial Chronicle Compiled by Amresh Anjan Wipro Hikes Employee Salaries By 8%, Signals Hiring Wipro said it has given salary hikes of up to 8 percent to offshore employees and hiring plans for the year are "on track". "We have given wage hike of eight per cent to offshore employees and three percent hike (to those in western markets).Overall about 1.6 percent has been the impact in terms of all the manpower cost related increases that we have given because there were some promotions etc in Q1," Wipro Executive Director and CFO Suresh Senapaty said. He added that the country's third largest company is "on track" with its hiring plans for the year. He, however, declined to give specific numbers. Larger rival Infosys had said it will stick to its plan of hiring 35,000 people this year, but has pushed the decision on wage hikes to October on account of global economic uncertainties. Source : 24-07-12 Firstpost Compiled by Amresh Anjan HCL Hikes Salaries; Overseas Hiring Plan On Track HCL Technologies will give increments of up to 8 percent to its offshore employees. It plans to hire 10,000 people in the U.S. and Europe by 2015. Offshore employees are getting hikes of about 8 percent and onsite employees will get a 2 percent increase, said Vineet Nayar, vice chairman and CEO. The hikes are in line with those announced by other big IT firms such as Tata Consultancy Services (TCS), which will hire 50,000 people this year. Wipro has not disclosed its numbers. Infosys plans to hire 35,000 and has deferred its wage hike decision till October. With the rising anti-outsourcing sentiment against IT, companies have stepped up recruitment abroad to counter criticism. HCL's BPO arm has cut its losses, and will be shedding positions in its pure voice-based work as it transforms into a platform-based business. Source : 24-07-12 Financial Express Compiled by Amresh Anjan Infosys To Hire 2,000 People In US This Year India's second largest software firm Infosys today said it planned to hire around 2,000 people in the US by the end of this year."Infosys hired 1,200 people in the US in 2011, and has already added more than 1,000 employees in the country this year. Total US recruitment is expected to be close to 2,000 by the end of 2012," the company said in a statement.Over the past few months, Indian technology companies have been feeling the heat of an anti-outsourcing campaign in the US and the EU, which are the main markets for domestic software and IT service companies. Source : 24-07-12 domainb.com Compiled by Amresh Anjan |
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