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CII: Business Confidence Dropped In Q3 |
| A survey by the Confederation of Indian Industry (CII) said business confidence was low in the third quarter of 2012-13. The CII business confidence index dropped to 49.9 points in the third quarter. It was at 51.3 points in the second quarter and 55 points in the first. The index is measured on a scale of 1 to 100 points. Less than 50 indicates a weak confidence level. A majority of the respondents of the business outlook survey were concerned about domestic economic developments, high interest rates, infrastructure hurdles and institutional problems. However, they were not concerned about the pace of reforms. A drop of below 50 points in the index was a matter of concern, requiring concerted policy intervention, said Chandrajit Banerjee, director general of CII. The survey polled 1,500 private and public sector firms in manufacturing and services. |
| Source : 07-01-12 Business Standard Compiled by Amresh Anjan |
| IT Companies Goes Slow On Bulk Lay-Offs Amid Uncertainty |
| The $100-billion Indian information technology industry has seen a drop in business volume and there may even be some missed growth targets this fiscal, but the country's top-tier IT firms are still wary of any kind of mass retrenchment. Recruitment consultants say organizations are now more discreet in letting go of their non-performing staff in bulk, preferring to restrict pink slips as the negative publicity can linger for years. Having been caught off-guard by the severe economic downturn in 2008 and 2009, many Indian IT companies ended up with large bench strengths and resorted to layoffs with no back-up strategy. But this time, organizations are engaging much more in reskilling many of their employees to be in line with market requirements. |
| Source : 07-01-12 Financial Express Compiled by Amresh Anjan |
| IIT Girls Turn Wary Of Taking Up Jobs In Delhi |
| The effect of the Delhi gang rape case has been more far-reaching than most would have imagined, and not just in Delhi. During the ongoing placement exercise at IITs across the country, girl students have elicited a reluctance to accept job offers in the capital, even if it means opting out of campus placements. Saloni Gautam, a fourth year BTech student at IIT Guwahati, has refused a package of Rs 7.5 lakh per annum from a Delhi-based company, despite knowing that she will not be allowed to sit for interviews for other companies during placements. A girl living in Delhi says she feels unsafe stepping out of the house after sunset |
| Source : 07-01-12 Hindu Business Line Compiled by Amresh Anjan |
| Managers May Have Plenty To Smile About In 2013 |
| Indian managers could have many reasons to look forward to the new year. Early signs indicate that this year is decidedly going to be better than 2012. On the HR front, 2013 will see the use of new training modules, which will include social media and cloud computing, giving organisations a competitive advantage. This may include competency-based talent sourcing, where the right candidate is selected for the right job and at the right time. The "bring your own device" (BYOD) phenomenon, where employees bring their own devices to work, will continue to gather pace. While this would raise security issues, the distinction between personal and business use of devices will blur. The virtualisation of desktops will continue to make things easier for the manager. Virtual desktops help cut costs dramatically, liberate the IT staff and drive mobility. |
| Source : 05-01-12 Business Standard Compiled by Amresh Anjan |
| Bharti Infratel Appoints Sunil Khurana As COO |
| Telecom tower firm Bharti Infratel announced it has appointed Sunil Khurana as Chief Operations Officer (COO) of the company. Bharti Infratel said Mr. Khurana will be a member of the core executive council team of Bharti Infratel."In his new role, he will provide strategic direction to the day-to-day operations of Bharti Infratel towards facilitating operational excellence and efficiency to meet customer requirements," Bharti Infratel said in a statement. He will also oversee the circle operations and different aspects of customer service delivery. |
| Source : 06-01-12 Financial Chronicle Compiled by Amresh Anjan |
| New MD For IBM India |
| IBM has appointed Vanitha Narayanan as Managing Director of IBM India Pvt Ltd. She replaces Shanker Annaswamy who will now take over as senior adviser to the corporation on India Enterprise.A press statement from the company said Ms. Narayanan and Mr. Annaswamy will report to Jim Bramante, Senior Vice-President, IBM Growth Markets Unit. The appointments are effective immediately. |
| Source : 05-01-12 Hindu Business Line Compiled by Amresh Anjan |
| Tepid Growth In Jobs And Salaries Ahead |
| Information technology giants Samsung Electronics and Google may have made big pre-placement offers at two Indian Institutes of Technology ( IITs) in 2012, but this may not be the case for prospective graduates in other institutes in the coming year. Human resource (HR) consultants predict a cautious year ahead for hiring, with salary hikes being lower in some cases. Hay Group, a global management consultancy, in its annual General Industry Compensation Report covering all levels of management, expects a pay increase of an average 11.2 per cent across job roles in 2013. The amount represents a slight fall against an actual average salary increase of 12 per cent across companies in 2012. |
| Source : 07-01-12 Business Standard Compiled by Amresh Anjan |
| Manufacturing Growth Jumps To A 6-Month High In Dec: HSBC |
| The country's manufacturing sector grew at its fastest pace in six months in December on the back of new orders. The HSBC manufacturing purchasing managers' index (PMI) stood at 54.7 in December, up from 53.7 in November. This indicated a further improvement in the health of the sector. The index is a measure of factory production. Output at manufacturing companies has increased, said HSBC chief economist for India and ASEAN Leif Eskesen. Nearly a third of the panelists in its survey indicated higher production and 18 percent noted a decline during the month. The overall rate of growth was the highest in six months in December. The growth in new orders also was at a six-month high. New export orders too increased at a solid pace. Meanwhile, higher purchasing was reported for the 45th month in a row. |
| Source : 06-01-12 Financial Express Compiled by Amresh Anjan |
| Banking Jobs Set To Surge In 2013 |
| Jobs in the banking industry are set to grow this year with licences being issued to new entities. The Reserve Bank of India is gearing up to finalise the guidelines for issuing these licences. The move could create direct and indirect employment for about 50,000 people over the next couple of years, analysts and headhunters said. However, this would happen only if banks decide to focus on retail business and not restrict themselves to corporate banking. There are fewer people involved in business-to-business work. Several business houses including the Aditya Birla Group, the Tata group and Anil Ambani-led Reliance Group have expressed interest in entering the space. Non-banking financial companies can now convert themselves into full-fledged banks. Existing banks such as Axis Bank and Yes Bank too are planning to expand their retail networks and boost headcount. |
| Source : 03-01-12 Hindustan Times Compiled by Amresh Anjan |
| Indian Companies Hiring Less Senior Professionals Than Global Peers |
| The proportion of companies recruiting at managerial and professional level has contracted by over a third, said a study by Antal International. The global recruitment firm's Global Snapshot- a major survey of employment trends around the globe has found the percentage of Indian companies recruiting is much lower than its peers globally.The survey said that the percentage of employers in India currently hiring for managerial and professional positions now stands at 40%, which is 7% below the global average. It added that although this is the lowest level in Asia, the signs are positive that this figure will climb to 43% in the near future. |
| Source : 09-01-12 Business Standard Compiled by Amresh Anjan |
| MNC's Freeze Hiring, But Singapore Job Market Not Badly Hit |
| Many multinational corporations (MNCs) located in Singapore have already frozen hiring of staff, due to the prolonged economic challenges in the Eurozone and sluggish growth in the United States. But Singapore's job scene is not likely to be badly hit, according to the employment outlook for the first quarter of 2013 painted by Singapore-based human resource consultancy firm, PrimeStaff Management Services. It said Singapore's unemployment rate is expected to "remain status quo", although there could be a very slight increase in unemployment. It believes several sectors will hire aggressively, due partly to the manpower crunch from the tightening of employment policies for foreign workers. They include hospitality, food & beverage, retail, construction and healthcare. |
| Source : 09-01-12 Channelnewasia.com Compiled by Amresh Anjan |
| Slowdown Blues: IT Firms Set To Halve Campus Hiring |
| With uncertainties of the global economic volatility still looming, hiring by information technology companies is set to hit the slow lane this year. According to estimates by industry analysts and experts, campus hiring by the IT industry is expected to drop 50 per cent, while lateral hiring (of experienced employees) is going to be purely need-based. In 2012, hiring by the industry through campus interviews stood at about 200,000, the highest ever. But the number this year is estimated to drop to 80,000-100,000. In 2013, Infosys, India's second-largest IT services company, through campus programme, plans to hire about 6,000 people – a significant climb down from last year's 23,000. Hyderabad-based Mahindra Satyam plans to cut down on its campus hiring by almost half because of an uncertain business environment. |
| Source : 06-01-12 Business Standard Compiled by Amresh Anjan |
| During Next Hiring Drive, UP Police Aim To Recruit 20% Women |
| To increase the proportion of women in the police force, the UP Police Recruitment and Promotion Board plans to recruit 20 per cent women constables in the next recruitment, which may be held in a few months. But, going by past experience, the availability of sufficient women candidates may be a problem. At present, the state police has six per cent women. In the last recruitment, held for 35,000 constables in 2009, as many as 7,54,410 applications were received and 91,500 of them were women. However, only 5,262 of the women were selected which made it much less than 20 per cent. |
| Source : 09-01-12 Financial Express Compiled by Amresh Anjan |
| Britannia Names VP & CFO |
| Britannia Industries has picked Vinod Menon as vice president and CFO. Mr. Menon was previously vice president and head of strategy and new business development. |
| Source : 09-01-12 Hindu Business Line Compiled by Amresh Anjan |
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