HR Articles: Dec-13 (Part-12)

For more article, Visit at : www.pmiralumni.co.in Employment Generation In Q1 Slumps To Lowest In Three Quarters Employment generation in eight key manufacturing and services sectors during the first quarter of the current fiscal (April-June 2012) slumped to its lowest in the last three quarters, with contract workers taking a bigger hit as compared to regular employees.Employment generation in the eight sectors was up by a mere 0.24 per cent, or 0.73 lakh, on a sequential basis in the latest reported quarter, according to the Labour Bureau's Fifteenth Quarterly Report on the 'Effect of Economic Slowdown on Employment in India'. While job creation in sectors of metals and automobiles declined marginally in the first quarter of the fiscal by 0.04 lakh and 0.05 lakh, there was a virtual hiring freeze in other sectors such as leather, handloom and transport. But sectors such as textiles (0.50 lakh), gems and jewellery (0.05 lakh) and IT and BPO (0.27 lakh) have registered a marginal rise in employment, the first quarter survey revealed. Even on a cumulative basis, job creation moderated to 6.94 lakh in the 12 months ending June 2012, as against 8.37 lakh at the end of the March 2012 and 9.29 lakh in the third quarter of last fiscal. Source : 27-11-12   Financial Express   Compiled by Amresh Anjan IT Industry May Generate 2.5 Lakh Jobs In FY13 Infosys Executive Co-chairman S Gopalakrishnan said the IT industry will grow at a rate of 11 percent this fiscal. Last year, the industry grew 16 percent to 17 percent. The tough situation in the global economy will affect the sector, said Mr.Gopalakrishnan. Employment generation in the industry will be slow, though new jobs will be added. He put job addition this year at about 2.5 lakh. The slowdown was temporary, he said, adding that he was confident of the industry achieving revenues of $300 billion by 2020. Some five million to six million jobs would be created during the period. With the global economy recovering slowly, there is room for IT to expand in emerging markets such as Russia, China, Indonesia and Mexico. Tier 2 cities had boosted revenues at Infosys, the fastest growth coming from Chandigarh Source : 24-11-00   The Tribune   Compiled by Amresh Anjan Time To Revisit Medical Reimbursement A tax-free benefit that needs to be brought up to date is medical reimbursement. Reimbursement of medical expenses is tax-free if claimed with the requisite bills. The Direct Taxes Code has recommended raising the limit to Rs 50,000 annually from the paltry Rs 15,000 that can be claimed under the current dispensation. If the code is not implemented next year, the amount ought to be revised upward anyway. With 60 percent to 70 percent of employees not even 35 years of age, there is little chance of them using this amount, says Ashish Arora, founder and managing director, HR Anexi. Moreover, the amount is insufficient if even one family member needs continuous medication. This component has not been revised for more than a decade, points out Sangeeta Lala, senior vice-president and co-founder, TeamLease Services. Source : 24-11-12   Business Standard   Compiled by Amresh Anjan Tech Jobs Dry Up In Season Finale Amid fears of another economic downturn, companies, mostly information technology (IT) firms, have taken a "go-slow" policy towards hiring graduates from Birla Institute of Technology-Patna.At the engineering college, only 56 per cent students have been offered jobs as compared to 75 per cent placement in 2011 during the same period.With less than six months left for the students to get their engineering degree, no major public sector undertakings (PSUs) have turned up with offer for jobs.BIT-Patna training and placement in-charge Raj Kumar said: "About 56 per cent students have been placed this year. The figure is lesser compared to 2011 when 75 per cent students were placed within this period of time."Most of the students have been placed in the IT sector this year. However, IT major Infosys, which hires in bulk, is yet to turn up for recruitment. Every year, the company provides jobs to more than 30,000 students from various engineering colleges across the country. Source : 23-11-12   The Telegraph   Compiled by Amresh Anjan Aurobindo Pharma Names CEO Formulations Aurobindo Pharma has appointed Arvind Vasudeva as chief executive officer (Formulations) with immediate effect. Prior to joining Aurobindo, Arvind Vasudeva served as Chief Operating Officer at Glenmark Pharmaceuticals and was instrumental in the growth of the company. He also served as managing director of RPG Life Sciences, where he is credited in transforming the company into profitable operations. Prior to RPG Life Sciences, he served as President - Indian operations as well as Japan and global markets in Wockhardt. Source : 23-11-12   Business Standard   Compiled by Amresh Anjan Good Summer Placements Offer Hope To B-Schools Having concluded the summer placement process successfully, the Indian Institutes of Management (IIMs) are looking at a good final placement season. Summer placements have been extraordinarily good this year, with most institutes completing the process in record time. IIM Calcutta placed its 460 students in a short span of four days. About 230 offers were made in the first two days. IIM Kozhikode saw 28 percent more companies visiting the campus. It placed all the students within three weeks, compared to 45 days last year, said Professor Kulbhushan Balooni, chairperson, placements. At XLRI Jamshedpur, the process lasted four days compared to the usual five days, according to Professor Rajiv Mishra, chairperson placements. Nearly 73 companies participated and made close to 282 offers. A good internship season usually means good final placements too, he said. Source : 23-11-12   Hindu Business Line   Compiled by Amresh Anjan Research Offers A Host Of Organisational Gains Many organisations in industries such as pharmaceuticals have full teams to support R&D. In the case of small and medium enterprises and other service sectors such as non-governmental organisations and business consultancy, however, very little attention is paid to this aspect. Research is a must for ensuring quality deliverables. It is crucial to upgrading of skills and knowledge of employees. The deliverables themselves need to be studied to ensure they meet the requirements of clients. Companies need to conduct in-house research for professional and self-development of employees through training and mentoring. Organisational research is also required to assess performance management, process re-engineering, departmental assessment and employee well-being. Research in all these areas helps in meaningful and relevant implementation of policies and brings about a positive change in a company. Source : 21-11-12   The Hindu   Compiled by Amresh Anjan Case For Stepping Up Training For Tourism Sector Tourism holds more promise for India than the BPO industry or manufacturing. The sector is a huge employer of the under-educated segment of the population. A career in hospitality does not require high-level education. However, the sector received just under two percent of foreign investment between April 2000 and June 2012, according to a joint report by Cushman & Wakefield and the Confederation of Indian Industry. Shortage of skilled manpower in the sector is a serious concern, apart from the usual reasons such as lack of tourism infrastructure. The current supply of skilled or professionally trained manpower is merely 8.92 percent of the industry's total requirement. This provides a strong ground for some sort of formal training for the hospitality business. In fiscal 2012, the travel and tourism industry supported 25 million jobs, much higher than the 2.8 million employed in the IT/BPO sector. Source : 20-11-12   Business Standard   Compiled by Amresh Anjan Reliance Life Recruits Women As Insurance Advisors Reliance Life Insurance Co. has recruited some 200 women advisors and is planning to increase the number in the next few months. The agents were hired for its "face-to-face" distribution channel which is geared towards those of its customers whose insurance agents have become inactive. The distribution channel would service its "orphan" customers and provide post-sales service to policyholders. Life insurance policies get "orphaned" when the distributor discontinues his agency or his services are terminated by the insurer. In such cases, policies are transferred to an active agent who can earn a commission on the renewal premiums. Part of Anil Ambani-led Reliance Capital, the company is targeting housewives. They would be trained to service orphan policies, develop customer relationships and then cross-sell to existing customers. The company will initially run a pilot in seven cities. Source : 21-11-12   Financial Chronicle   Compiled by Amresh Anjan High Levels Of Desk Work Leads To 'Office Knees' A U.K. study has found that the incidence of joint ailments among workers holding desk jobs is growing. Researchers say the rising levels of obesity among office workers are also to blame. One in ten of the respondents above the age of 55 said they were in constant pain. Almost a quarter of 1,600 workers aged 16 years to 65 years said they had been suffering with pain for two years. Sammy Margo, spokesperson for the Chartered Society of Physiotherapy, said the rise of the Internet was responsible for the "office knee" phenomenon. Some of these people have been working at a desk for 20 years. In the age of the Internet, the problem has worsened. Surgeons say knees are being literally crushed by weight. In case obesity levels continue to rise, the number of people needing knee replacements will soar soon. Source : 21-11-12   Hindu Business Line   Compiled by Amresh Anjan Mr. Somasundaram Resigns As CEO Of Lakshmi Vilas Bank Barely two years after taking charge PR Somasundaram today resigned as the managing director and chief executive of Lakshmi Vilas Bank due to "personal reasons". He became the third old-generation private bank CEO to tender their resignation this year. According to sources, Mr. Somasundaram, who joined the Karur-based private lender from Standard Chartered Bank in August 2010, was finding it difficult to operate in an environment where promoters were not always ready to adopt new practices and the regulator was often questioning some of the bank's business dealings with group companies of an Indian business tycoon. Source : 21-11-12   Business Standard   Compiled by Amresh Anjan Staffing Firms Reap Gains From Slowdown The downturn has been a boon for some industries, among them temp staffing. According to data from the Confederation of Indian Industry, the sector has grown at an annual rate of at least 30 percent over the last three years. The slowdown has had an impact on the temp staffing sector in two ways, says Mohit Gupta, director of TeamLease Services. Companies initially dispensed with temporary jobs to bring down costs. But over the last one year, they have found the temp option to be more cost-effective. Unlike permanent staff, temp staffing has a fixed cost over a given period. This allows companies to plan better. For instance, for every six full-time employees hired, at least one quits within the first one month. Employers then have to restart the process in search of a replacement, adds Mr. Gupta. Source : 25-11-12   Financial Chronicle   Compiled by Amresh Anjan Tata Steel To Shed 900 Jobs In U.K. Tata Steel is slashing 900 jobs in the U.K. amid a restructuring of its European operations. The cuts will lead to a net loss of 900 jobs in the U.K., that is, 580 in South Wales, 155 in Yorkshire, 120 in the West Midlands and 30 in Teesside, the steel maker said. Karl Kohler, CEO of steel operations, said the aim is to convert the company into an "all-weather" manufacturer which can withstand difficult economic conditions. He added that Tata Steel would work with trade unions and the government to ensure maximum possible assistance and support to the affected people. U.K. Steel Enterprise, a Tata subsidiary, will be working out ways to see if it can provide more support to local steel communities and stimulate new jobs, he added. It will also invest £650,000 towards this endeavour. Source : 23-11-12   Financial Express   Compiled by Amresh Anjan High Targets Make Thousands Quit Insurance Jobs Employees in the private insurance sector are leaving in droves because they are being asked to meet impossible targets. Head-hunters and industry insiders say about 10,000 people have quit the sector in the past two years. One out of three is looking for opportunities outside insurance. Policy sales took a hit when the Insurance Regulatory Development Authority put in place new rules relating to unit-linked insurance products (ULIPs) in September 2010. The new rules benefit consumers but are straining the revenues of insurance companies. ULIP sales accounted for 30 percent of the total premium collection in 2009-10. But sales have dipped since the norms came into force. Following the change, attrition has soared and is more than 40 percent, says Manish Sabharwal, chairman of staffing firm TeamLease Services. Employee morale is low and most employees are looking for new jobs. Source : 25-11-12   Hindustan Times   Compiled by Amresh Anjan Hiring in Telecom sector witnesses downsizing in India but expect demand from Africa and Middle East The hiring opportunities in country's telecom market continues to witness a downward trend as around 28 percent of the senior telecom professionals expect further downsizing in the industry, according to a recent report by a prominent job search portal. The good news, however, is that there is a strong demand for the Indian telecom professionals in new markets like North Africa and Middle East. Companies like Etisalat , France Telecom, BT Group plc (NYSE: BT; London: BTA) and Bharti Airtel Ltd. (Mumbai: BHARTIARTL) are expanding their operations in Africa and recruiters believe that demand for Indian telecom executives will continue to grow because of the recent technology roll-out experience. Source : 22-11-12   Light Reading India   Compiled by Amresh Anjan Pantaloons Ex-CEO To Head Future Fashion Future Group has appointed Kailash Bhatia head of Future Fashion, the entity that will house all the fashion businesses of the group. Mr. Bhatia was previously CEO of Pantaloons and has been a whole-time director at Pantaloon Retail India since April 1, 2010. Source : 21-11-12   Financial Chronicle   Compiled by Amresh Anjan

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