| | Hiring up by 3% in Sept'13 over Aug13': says Naukri Job Speak Index |
| | The Naukri Job Speak Index for the month of September 2013 was at 1238, showing a 3% growth in hiring, when compared to Aug'13. The hiring activity has witnessed 9% increase when compared to the same period a year back. Most of the sectors have shown positive hiring in Sept'13 after showing a dip in the index last month. Auto and Telecom sectors have seen impressive growth with hiring activity going up by 10 % and 14% in Sept'13 over the last month. Among the top metros Delhi-NCR has shown maximum hiring with 7% increase in Sept'13 when compared to Aug'13. |
| | Source : 08-10-13 Naukri.com Compiled by Amresh Anjan |
| | Unions defer Coal India strike |
| | Workers' unions at Coal India (CIL) on Friday decided to defer a three-day strike until December, following a four-hour long meeting with the company management. According to the unions, they wanted more time to discuss the contentious issues with the government. However, if the demands were not met, they would go for a strike starting December 17. "Our opposition to stake-sale and proposed restructuring is still there. But we are aware of the economic situation of the country and, hence, we are deferring the strike," said, Mr. S Q Zama, Secretary General of Indian National Mine Workers' Federation (affiliated to Intuc), which is the largest among the five coal workers'unions. |
| | Source : 21-09-13 Business-standard.com Compiled by Amresh Anjan |
| | Consulting sector top recruiter at IIM-A final placements |
| | Despite tough economic conditions, consulting sector has emerged as the top recruiter at the 2013 final placements of the Indian Institute of Management, Ahmedabad (IIM-A). As per final placement data audited by rating agency Crisil, under the Indian Placement Reporting Standards (IPRS), IIM-A said the consulting sector recruited in large numbers in both finals and laterals placement processes. In terms of compensation packages for PGP students, the highest and lowest domestic maximum earning potential (MEP) for a student stood at Rs 37 lakh and Rs 6.50 lakh while the median was around Rs 16.80 lakh. The same under international salary heads in terms of USD stood at $ 150,000 and $26,140 for highest and lowest MEP, respectively, whereas the median was $46,243. However, according to the institute, the data for compensation packages was not available from all recruiters. MEP is the sum of fixed yearly component, total one-time cash benefits and maximum possible performance-linked compensation during first year of performance, along with all other components of salary that are a part of the offer. |
| | Source : 21-09-13 Business-standard.com Compiled by Amresh Anjan |
| | Government for tough pay disclosure norms for company directors |
| | Companies will have to disclose the details of directors on their boards, including their appointments, remuneration and interests among others, if the draft rules under the newly-enacted Companies Act are finalised. According to the second tranche of draft rules put out in the public domain by the corporate affairs ministry, companies will have to go through various authorities such as the income-tax department, the Securities and Exchange Board of India and stock exchanges in case of mergers and acquisitions. The draft rules also propose to make it mandatory for listed companies to explain the rationale behind salaries and raises given to top management personnel in vis-a-vis the companies' business performance. Under the new Companies Act, firms need to provide the ratio of the top management remuneration and the median employee salary on a yearly basis. Besides, listed firms are required to disclose the percentage increase in remuneration of each director and CEO as well as the percentage rise in the median compensation of employees in the financial year. Earlier this month, the ministry had proposed rules for 16 chapters of the new legislation. The draft rules cover eight more chapters for implementation of the Companies Act, 2013. |
| | Source : 21-09-13 Business-standard.com Compiled by Amresh Anjan |
| | Reserve 3% government jobs for disabled, Supreme Court tells Centre |
| | A marathon legal struggle for a level-playing field brought something to cheer about for at least 4 crore people with disabilities in India as the Supreme Court ruled in favour of a minimum 3 percent reservation for them in all Central and state government jobs. This, the court said, would "ensure proper implementation of the reservation policy for the disabled and to protect their right". Regretting the denial of opportunities to differently-abled people in the country, a bench led by Chief Justice P Sathasivam quashed the Centre's 2005 office memorandum and the government's claim that the reservation policy not only had to be different for Group A, B C and D posts but the quota had to confine to "identified" posts. The court ruled that the reservation had to be on the basis of total number of vacancies in the cadre strength and not just on posts so identified by authorities. |
| | Source : 08-10-13 Indianexpress.com Compiled by Amresh Anjan |
| | USIBC steps ups its campaign on immigration reform |
| | US India Business Council (USIBC) that recently established a 'Coalition for Jobs and Growth' has stepped up its campaign at the Capitol Hill to address the concerns of the IT industry with regard to the certain provisions of the comprehensive immigration reform, which has now entered the crucial phase. The USIBC chairman, Mr. Ajay Banga, who is CEO of MasterCard, has not only been personally involved in an effort to make lawmakers aware of the provisions of the immigration visas, in particular those related to the H-1B and L-1 visas, but has been instrumental in launching a massive campaign at the Capitol Hill on the lines of the one that was seen during the days of the civilian nuclear deal. "While USIBC and the Coalition for Jobs & Growth fully support comprehensive immigration reform in the United States, there are five key provisions in the Senate Bill that will significantly harm US companies - ability to remain globally competitive, which will cost American jobs," USIBC president, Mr. Ron Somers, told PTI. "It is imperative for US and Indian Industry to pull together as never before to help educate the US Congress and the US Administration about why these provisions are discriminatory and how they will hurt American business, as well as our commercial relationship with India," he said. |
| | Source : 09-10-13 Zeenews.india.com Compiled by Amresh Anjan |
| | Local hiring to M&As: Indian IT desperate to crack the Europe market |
| | Big Indian IT companies, heavily reliant on the US market and eager to diversify, have intensified efforts to crack continental Europe in the past three years through acquisitions, setting up operations on the ground and hiring locally. The push into Europe comes as Indian IT vendors face uncertainty in the United States, where more restrictive rules that could drive up the costs of sending workers there on short-term visas are being debated as part of an immigration law overhaul. The rise in revenue from Europe is likely to be reflected when the earnings season for the sector kicks-off on Friday with no. 2 player Infosys Ltd's results. NelsonHall, an outsourcing advisory firm, expects the four top Indian vendors and U.S. rival Cognizant Technology Solutions - which has three-quarters of its staff in India – to see overall business in Europe grow about 16 percent this year. It expects 12 percent growth in the United States. Europe accounts for roughly one-third of revenue for India's $108 billion IT services industry, although Britain has long made up the bulk of that share. In continental Europe, Indian IT firms are making their deepest inroads in northern European countries where English is widely spoken. |
| | Source : 09-10-13 Firstpost.com Compiled by Amresh Anjan |
| | Fujitsu set to launch major hiring drive at Rapidigm, 7,000 jobs on offer |
| | Japanese technology firm Fujitsu is looking to more than triple the work force at its IT consulting arm Rapidigm in India to 10,000 within two years, from around 3,000 at present. "India is IT resource pool for the world. We are transforming ourselves as a major IT company," Fujitsu India's head for JOC Business, Mr. Takashi Yano said. "Few years ago we acquired Rapidigm which has development centre in Pune. We are planning to increase headcount there to about 10,000 people from around 3,000 at present," he added. Mr. Yano was speaking on the sidelines of event where Japan signed an ICT cooperation agreement. "Both the governments started working on the project following the visit of Telecom Minister Kapil Sibal to Japan where he appealed to companies to look at manufacturing in India. Fujitsu has made huge investments and we expect many more investment to come under this agreement," India-Japan Business Promotion Council's Chairman at Assocham Mr. Rahul Sharma said. |
| | Source : 03-10-13 Financialexpress.com Compiled by Amresh Anjan |
| | Informatica decides to go in for a partner-driven India strategy |
| | Informatica, the $811-milion data integration software products firm, is looking to overhaul its Indian sales strategy through a more partner-focussed approach that will allow the company take a larger portion of the market. In a symbolic shift, the Nasdaq-listed, U.S-based firm also has more employees working in India than in the U.S. now, with its Bangalore research and development centre also surpassing its counterpart in the company headquarters in terms of workforce size. The company, which operates through primarily a licence and subscription-based model, is looking to expand its partner ecosystem. It currently gets a large percentage of its global revenue from direct sales as opposed to channel partners, and is looking to proactively change that mix over the next few years. |
| | Source : 08-10-13 Thehindu.com Compiled by Amresh Anjan |
| | Austerity drive holds up hiring by DRDO |
| | Development Organisation (DRDO) has been held up by the austerity measures of the union finance ministry, a senior official said."Though the (350) posts have been cleared by the prime minister's office, recruitment has been put on hold due to cut in budgetary allocation for us this fiscal (2013-14) by the finance ministry," DRDO recruitment and assessment centre chairman Mr. D.N. Reddy told reporters on the margins of a conference here. Admitting that the research body has a shortage of 400 scientists and engineers, Mr. Reddy said fresh hiring may not take place till the general elections were held early next year. "We got clearance from the PMO but not from the finance ministry due to austerity. We hope to get the ministry's approval after the elections. "This is the first time we are affected by the austerity drive," Mr. Reddy said at the two-day National Conference on Condition Monitoring, organised by the DRDO's Bangalore-based Gas Turbine Research Establishment (GTRE) and the Condition Monitoring Society of India (CMSI) at Vishakhapatnam in coastal Andhra Pradesh. Union Finance Minister Mr. P. Chidambaram had recently directed all central ministries to prune their plan expenditure for fiscal 2014 to ensure that the budgeted fiscal deficit did not cross the targeted 4.8 percent of the national gross domestic product (GDP). |
| | Source : 04-10-13 Newstrackindia.com Compiled by Amresh Anjan |
| | Alcatel-Lucent to cut 10,000 jobs, Asia affected |
| | Telecom-equipment maker Alcatel-Lucent is to cut 10,000 jobs worldwide to reduce costs by 15% within two years and focus on new technologies. The French-US company has lurched from crisis to false dawn to crisis since it was formed of a merger in 2006, and is restructuring and refocusing its activities to reverse losses. Chief executive officer Mr. Michel Combes, who informed the company's European works council of the 'Shift' plan, said it was time for tough measures."We launched the Shift Plan in June to give Alcatel-Lucent an industrially sustainable future," he said."To carry out this plan we must make difficult decisions ... The Shift Plan is about the company regaining control of its destiny," he said in a statement. The cuts represent about a seventh of the company's global work force of 72,000. Alcatel-Lucent said 4,100 jobs would be cut in Europe, the Middle East and Africa by 2015, 3,800 in the Asia Pacific region, and 2,100 in North and South America. |
| | Source : 08-10-13 Hindustantimes.com Compiled by Amresh Anjan |
| | IITs Lose their Sheen; Top Tech Conglomerates Skip Placements This Year |
| | As per sources, Facebook has filled its belly in the previous year's recruitments and the decision not to indulge in hiring this placement season is not confined to India alone. Ms. Surbhi Garg, overall placement co-ordinator at IIT-Delhi, claimed that all but 10 of their regular players who recruited heavily will be missing from action this year. The total number of registrations for this year's placements stands at 170 and the institute expects the number to reach 250 by the end of this month. In the words of Ms. Garg, "The situation seems a bit difficult this year as a few companies that came last year are not visiting the campus". Mr. Harsh Sejwar, one of the overall placement coordinators from IIT-Kanpur, said that they are still negotiating the terms with several recruiters. And added that, "The global slowdown has affected placements, but it is too early to comment on the entire season. Several companies are hesitating to come but are keen as we had good relations in the past". |
| | Source : 08-10-13 Jobs.siliconindia.com Compiled by Amresh Anjan |
| | Listed companies liable to put aside Rs 8,100 cr in FY13 for CSR |
| | Listed companies would be liable to spend Rs 8,100 crore in all on corporate social responsibility (CSR) for 2012-13, with the new Companies Act making it mandatory for them to earmark two per cent of their net profit (the average of the past three years) on such activities. For FY14, the first full year of the law's implementation, the spend could go up to nearly Rs 8,700 crore, given that India Inc's profitability has grown at a compounded 7.5 per cent annually in the past three years. The total spending by all companies will be higher, as these estimates exclude unlisted companies. The Bill makes CSR spend mandatory for every company with a net worth of Rs 500 crore or more or turnover of Rs 1,000 crore or more or a net profit of Rs 5 crore or more during any financial year. Companies will have to constitute a CSR committee of the board of directors, consisting of three or more, of which at least one director shall be independent. |
| | Source : 07-10-13 Business-standard.com Compiled by Amresh Anjan |
| | GCC may hire more S Asian workers |
| | Gulf Cooperation Council (GCC) member states, mainly Qatar and the United Arab Emirates (UAE), are likely to continue hiring more workers from South Asian countries including Bangladesh for building major development projects, said officials engaged in manpower exports. The oil-rich countries of the bloc are in the process of implementing sets of development projects and are planning to build more infrastructures across the region in the next couple of years, they said. As the region is likely to hire more workers, it is expected to retain its position of the best source of remittances for the South Asian countries in the coming years. "We think the GCC will continue to hire an increased number of workers from Bangladesh and other countries of South Asia as UAE, Qatar and many other states are implementing a number of development projects," said an official at the ministry of expatriates' welfare and overseas employment. |
| | Source : 06-10-13 Thefinancialexpress-bd.com Compiled by Amresh Anjan |
| | 'Starting up is cool' - General buzz at TiECon 2013 |
| | 'Starting up is cool' was the general buzz at TiECon , the annual flagship event of The Indus Entrepreneur or TiE, one of India's biggest association of entrepreneurs, held at the Taj Palace Hotel on October 4 and 5. The theme for the event was 'Innovation in Action', and it began with a group of panellists discussing innovation. Much of the talk revolved around failure and how to cope with it. The networking sessions were abuzz with people, old and young, narrating their start-up stories. Ms. Nina B Singh, in her 40s, said, "After working with MNCs for over 15 years, I realised that at senior positions; women are the worst victims of politics." Ms. Singh along with her husband has now started manufacturing automobile batteries in Bhiwadi, Rajasthan. Mr. Rahul Kumar, formerly with MakeMyTrip and Mr. Hitesh Dhingra, the founder of online electronics store LetsBuy which was sold to Flipkart last year, have started a match-making site together, TrulyMadly. "There is no risk in starting up," he said. |
| | Source : 07-10-13 Businesstoday.intoday.in Compiled by Amresh Anjan |
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