| For more article, Visit at : www.pmiralumni.co.in NASSCOM HR Summit 2013 to take place in Chennai on July 23rd and 24th |
| Fostering innovation in the workforce is very high on the agenda across industries and ranks today. With budgets getting frozen and at times slashed, there is a constant need to look for ways and methods to increase the ROI without compromising on quality. To cook up greater creativity, leaders need to update their approach to collaboration, compensation and culture. The new recipe would start with laying a base of trust. Mix risk-taking with job security. Subtract strict chains of command and barriers to ideas. Add professional development. Reward excellence in routine activities and efforts to find breakthroughs. Openly discuss failure. Simple as it may sound, it makes the work of HR trickier. Companies need to bring in a change in their cultures to make employees live, eat and breathe innovation. It would also mean adopting a middle path when the new and the old converge, making it imperative to balance the experience of the old with the energy of the new. Aptly enough, NASSCOM HR Summit 2013, July 23rd and 24th, Chennai is themed around "Workforce Innovation: New Way of Working vs Old Way of Thinking". The conference spread over 2 days would focus on some key themes in the area. Log on to www.nasscom.in/hrsummit to view the complete Agenda, Speakers and other information. |
| Source : 02-07-13 Naukri.com Compiled by Amresh Anjan |
| Bajaj Auto workers at Chakan plant go on strike |
| Bajaj Auto on Tuesday said workmen at its Chakan plant have "stopped coming" to work thereby affecting production following the management's refusal to allot them shares at discounted price. The company said the workers had earlier given a notice for a stoppage of work at the plant. "The workmen have, however, stopped coming to the Chakan plant from June 25, 2013, itself, without assigning any reason for this stoppage," BAL said in a filing to the BSE. The reason for the strike was "that management had refused to concede their demand that all the workmen working in Bajaj Auto should each be given an option to subscribe to 500 equity shares at a discounted price of Re 1 per share", it added. |
| Source : 26-06-13 Indianexpress.com Compiled by Amresh Anjan |
| What distresses workers most? |
| Factors that up psychological distress in employees have been ascertained. 16 percent of workers said that they were at least slightly bothered by psychological distress including symptoms of depression and anxiety- over the past month. Among major risk factors are role conflicts: Being given work tasks without enough resources and receiving contradictory requests from different people. The other major risk factor is emotional demand, defined as "dealing with strong feelings such as sorrow, anger, desperation, and frustration" at work. These factors were "the most important and most consistent risk factors" for psychological distress. |
| Source : 25-06-13 Hindustantimes.com Compiled by Amresh Anjan |
| 47% Indian graduates unemployable for any job |
| India churns out tens of thousands of graduates each year, but less than half of them are "employable" or possess the basic skills necessary for any industry role, according to a report. A report by Aspiring Minds, an employability solutions company, says around 47% graduates in India are unemployable for any job. The report, which is claimed to be the first national audit of employability of three-year bachelor's degree graduates, drew inferences from data of over 60,000 graduates across India based on Aspiring Minds Computer Adaptive Test (AMCAT). |
| Source : 25-06-13 Hindustantimes.com Compiled by Amresh Anjan |
| Delhi-NCR provides more jobs than Mumbai, statistics prove that |
| Mumbai's share in generating new jobs sharply plummeted while Delhi-NCR has catapulted to the top slot, an industry survey has revealed. New jobs generation in the country's commercial capital fell sharply by 28 per cent during the first quarter of fiscal 2013-14 against the corresponding period last year, said 'Job Trends across Cities & Sector', a study conducted by the Associated Chambers of Commerce & Industry (Assocham) which was released on Tuesday."Mumbai's share in generating total number of new jobs across India fell from over 14 per cent last year to just around 10 per cent," Assocham secretary general Mr. D.S. Rawat said while releasing the study. In contrast, Delhi-NCR remained numero uno in new job generation with a maximum share of over 27 per cent as compared to other cities, Mr. Rawat said. Referring to Mumbai, the study said that around 13,100 new jobs were generated compared to 18, 00 in Q1 last year, mostly in the IT, IT-enabled services (ITeS) and hardware which accounted for 32 per cent with banking, financial services, insurance (BFSI - 18 per cent), academics (seven), advertising and event management (five), telecom and other manufacturing (four) and hospitality (three per cent). Sectors like engineering and construction, realty, automobiles, retail, infrastructure, human resources, FMCG and others notched an insignificant increase in new jobs generation, it added. |
| Source : 02-07-13 Indiatoday.intoday.in Compiled by Amresh Anjan |
| IndiGo pilots apply for jobs with AirAsia |
| IndiGo Airlines may lose a good chunk of its commanders to AirAsia India as around 100 of its pilots have applied for jobs with the proposed carrier, say sources. Besides a hefty package that AirAsia India is offering to the pilots, there are other reasons, like better working conditions, for these pilots to move out, say Indigo sources. "As many as 100 commanders have sought jobs with AirAsia India. And this is not only for higher packages, but also for better working conditions," airline sources told PTI. A text message sent to the IndiGo spokesman did not yield any response. AirAsia, in collaboration with Tata Sons and Telestra TradePlace of Arun Bhatia, plans to launch a budget airline by the end of the year with its headquarters in Chennai. AirAsia is expected to bring in competitive pricing in the domestic aviation market with its "nano" airfares and may pose direct competition to IndiGo, which is the undisputed leader in the low-cost segment now. |
| Source : 30-06-13 Indianexpress.com Compiled by Amresh Anjan |
| India getting Saudi exit visas for Nitaqat-hit emigrants |
| As the deadline for expatriates without valid work permits or employment in Saudi Arabia is set to end on July 3 under the Nitaqat (naturalisation) labour law, the Indian government has made elaborate arrangements for their smooth exit as they have to leave the Kingdom before the expiry of the deadline. Overseas Indian Affairs Minister Mr. Vayalar Ravi told The Hindu over telephone from Kochi on Sunday that the process was being carried out by the Indian Embassy in Riyadh and its consulate in Jeddah and so far he had not received any complaint. "There is no way except to obeying the Saudi Arabian law," he said, adding that he had no information about the possibility of the King extending the deadline. |
| Source : 30-06-13 Thehindu.com Compiled by Amresh Anjan |
| Relief to Indian IT sector: CBDT Withdraws Controversial Circular |
| The Central Board of Direct Taxes has withdrawn a controversial guideline and tweaked another to provide a breather to the about $100-billion industry that has been facing the heat from tax sleuths. The apex body for direct taxes, or CBDT, has withdrawn the guideline of profit-split method for transfer-pricing transactions, which was seen at the core of industry's tax woes. It has also substantially changed the criterion for treatment of a development centre in India as a contract R&D service provider with "insignificant risk", addressing a major demand of the industry. The changes are based on recommendations of the Rangachary committee set up by Prime Minister Mr. Manmohan Singh to look at the issues and in line with finance minister Mr. P Chidambaram's promise of a non-adversarial tax regime as well as stability and clarity in tax laws. The move, aimed at making India an attractive destination for outsourcing of software development and research and development, comes after much hue and cry by the industry. |
| Source : 01-07-13 Siliconindia.com Compiled by Amresh Anjan |
| RBI must understand its mandate in a broader sense says Mr. P Chidambaram |
| In a veiled message to the Reserve Bank, Finance Minister Mr. P Chidambaram has hinted that it should not focus solely on containing inflation but also look at the larger mandate of growth and creation of jobs. Ahead of his meeting with PSU bank chiefs tomorrow, he also said banks would have to be heard before advising them on taking a balanced view about passing on the benefit of rate cuts to consumers."RBI must understand its mandate in a broader sense. Yes, RBI's mandate is price stability, containing inflation and maintaining fiscal stability but that must be understood as part of a larger mandate of growth and creation of jobs," he told PTI. He was replying to a question on what he expected from RBI in the next policy review scheduled on July 30. On at least a couple of occasions, Mr. Chidambaram had not hidden his unhappiness over the hawkish stance adopted by RBI Governor Mr. D Subbarao over meagre interest rate cuts. |
| Source : 02-07-13 Thehindubusinessline.com Compiled by Amresh Anjan |
| Pvt sector experts to land top govt jobs |
| In a move that could end the monopoly of civil servants to key government posts, Prime Minister Mr. Manmohan Singh has cleared an ambitious plan to induct private sector experts at the rank of joint secretary and additional secretary in the government. There are nearly 480 joint secretary and 108 additional secretary rank posts in the central government. Not all of them, however, would be immediately open for outsiders. The plan - that has been under discussion within the government for years - would initially cover positions that require "technical and specialized knowledge" and are not earmarked for any particular cadre of government officers. The department of personnel & training (DoPT) has asked central ministries and departments to identify such positions. Once this process in complete, the government will finalise the recruitment process for each category of posts along with the Union Public Service Commission. Civil servants too would be able to make a pitch for these posts in competition with private sector experts including academics. Each post would have a term of three to five years. But if government officials want the market-drive consolidated salary, they will first have to quit their job. There is a cap of R 2 lakh on the monthly salary but there can be exceptions and each such case will also need the approval of the finance ministry. |
| Source : 01-07-13 Hindustantimes.com Compiled by Amresh Anjan |
| Plastics, petrochemical sectors have most potential for job creation |
| Plastics and petrochemical sectors offer the most potential for employment generation with over Rs 84,000 crore investments planned in this sector in the next five years, according to Mr. V.K. Subburaj, Additional Secretary, Department of Chemical and Petrochemicals, Government of India. The sector employs over three million people and is set to generate as many jobs with the refineries planning to invest in a range of projects. Plastic products making units can add jobs with relatively small investments. Opportunities for entrepreneurs are high in the plastic sector as a business can be started with investments of Rs 20,000 to over Rs 2 crore. Import of plastic products is on the increase and is estimated at about Rs 52,000 crore against Rs 48,000 crore in the previous year. Exports have also grown to Rs 28,000 crore from Rs 25,000 crore. Addressing the inaugural of the four-day International Plastics Exposition, he said manufacturers need to look at value-added and high-end products to tap the export markets. The concentration of automobile manufacturers in South India can drive investments in the plastic sector and reduce dependence on imports. |
| Source : 27-06-13 Thehindubusinessline.com Compiled by Amresh Anjan |
| White-label ATMs will help create jobs: Tata Comm's chief of strategy |
| Tata Communications' ambitious move to set up automated teller machines that will not be proprietary to a particular bank (called white-label ATMs) is set to create employment opportunities for around 3,500 persons, especially in semi-urban and rural areas. "We expect that for every 30 white-label ATMs we set up, there will be a requirement for 6-7 people. There will be a need for security guards, staff for cash loading/unloading and other administrative purposes," Mr. Srinivasa Addepalli, Chief Strategy Officer of Tata Communications, said on the sidelines of a news briefing here. White-Label ATMs are to be set up by non-banking entities on behalf of 'sponsor banks', but they would not carry the brand label of any bank, and would be accessible to card-holders of all the banks for a certain fee. The company has received Reserve Bank of India's nod to set up 15,000 white-label ATMs over the next three years, 67 per cent of which will be in semi-urban and rural areas. If the target is achieved, then 3,500 new jobs will be created in the next three years. |
| Source : 28-06-13 Thehindubusinessline.com Compiled by Amresh Anjan |
| Weak Indian rupee to make hiring decisions challenging: Experts |
| The depreciating value of rupee clubbed with a slowing global economy is making hiring decisions a "challenging" task for many companies, say experts."A falling Rupee makes imports costlier, pushes up the costs of imported raw materials, and increases the external borrowing and repayment cost, to name a few. This trend clubbed with a slowing global economy, makes hiring decisions challenging for companies," said HR firm Randstad India President (Staffing) Mr. Aditya Narayana Mishra. Depreciation of rupee would result in increased inflation and thus, stagnant growth of the economy. And hence, it would affect all industries and the human resource domain would be no exception. Rupee sank to an all-time low of 60.35 on June 26 last week against US dollar in mid-session trade, dragged down by a heavy month-end demand for the US currency. According to executive search firm GlobalHunt's MD Mr. Sunil Goel, "Impact of rupee depreciation on hiring will be more in sectors like manufacturing, power, oil and gas, automotive sectors, electronics, telecommunications". |
| Source : 30-06-13 Indianexpress.com Compiled by Amresh Anjan |
| Ex-pilots want closure of Kingfisher Airlines to clear salary dues |
| The beleaguered Kingfisher Airlines further plunged into another crisis with ex-pilots approaching the High Court of Karnataka seeking closure of the firm to clear their salary dues estimated to be more than Rs.1.25 crore. The high court, which admitted their petitions, ordered issue of notice to KFA and adjourned the matter for further hearing. Three pilots have filed separate petitions at the high court. According to one of the petitioners, Captain Vikrant Pednekar, KFA owed him salary dues and benefits amounting to Rs.17.6 lakhs between 2007 and April 2012. "The company is commercially insolvent and it should be wound up in accordance with law to clear the salary dues," the petitioner said. |
| Source : 27-06-13 Indiatoday.intoday.in Compiled by Amresh Anjan |
| Bank of America Moves Mortgage Jobs to India |
| Bank of America (BAC) opened a unit in India to review home-valuation reports as it seeks to rebuild share in U.S. mortgages at a lower cost, said four people with knowledge of the move. The firm also eliminated jobs of licensed U.S. workers in its LandSafe business, the appraisal division of the Charlotte, N.C.-based financial giant, which made $78.7 billion in loans last year, people said. LandSafe, based in Plano, Texas, has more than 2,000 associates in the U.S., according to its website. Licensed reviewers, who check the accuracy of appraisal valuations and can earn more than $100,000 a year, were among those who lost their jobs, the people said. Workers in the new Bangalore office follow checklists to determine if appraisals are complete, said the people, who requested anonymity because they weren't authorized to comment. |
| Source : 28-06-13 News.investors.com Compiled by Amresh Anjan |
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