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| Summer placement at IIM-Indore: 156 companies offer jobs |
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| Around 156 companies including 81 new recruiters evinced interest in summer placements of IIM-I. 450 participants in the PGP batch, one of the largest across IIMs, picked up diverse internship roles in sectors such as BFSI, Consulting, E-Commerce, FMCG and pharmaceuticals. IIM-I placement officer Ms. Bhavya Kapoor said, "The highest domestic stipend offered for the eight week internship is Rs 1.5 lakh."IIM-I director Mr. N Ravichandran said, "The completion of summer placement for the class of 2013-15 is a testimony of our robust process and rigor in academics and emphasis on relevant management education." Sales & Marketing emerged as the most preferred function with 42% of the batch opting for roles here. The leading recruiters were AT Foods, Airtel, AkzoNobel, Dabur, Emami, HCCB, HUL, ITC, L'Oreal, Madura, Marico, PepsiCo, Philips, Pidilite, SABMiller, Tata Motors and Vodafone. |
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| Source : 24-11-13 Dnaindia.com Compiled by Amresh Anjan |
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| IT firms hope to deter job hoaxes with digital signatures |
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| Every year, imposters claiming to represent large IT companies lure gullible candidates into paying between Rs 8,000 and Rs 1 lakh as a 'deposit' to fill a "vacancy". Now, software companies are deploying new technology to deter the fraudsters. TCS, Cognizant Technology Solutions and Tech Mahindra now have digital signatures to distinguish their offer letters from fake ones. Cognizant has a Quick Response (QR) code on its letters. This code can be decrypted only by the company, says Mr. Sriram Rajagopal, Vice-President, HR. It is also setting up a hologram-based verification system for offer letters. Says Mr. Ajoy Mukherjee, Executive Vice-President and Global HR Head at TCS: "The practice of printing the QR code on offer letters is a new one for us. Once the code is scanned, the TCS server verifies if the letter is valid. It is a near-foolproof system of authentication."TCS is also putting out advertisements in regional newspapers to educate job seekers on fake offers, he said. Companies are making it clear that they do not charge money to hire people. The fake job racket hit the headlines last month when Tech Mahindra realized that nearly 50 people were conned by a gang about landing jobs with it. These candidates had paid upwards of Rs 9,000 each. |
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| Source : 25-11-13 The Hindu Business Line Compiled by Amresh Anjan |
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| Real salaries of software engineers lowest in 15 years: Credit Suisse |
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| The lure of attractive salaries, quick promotions, foreign posting and job mobility attracted lakhs of young students to India's top outsourcers, making India the back office of the global IT requirements. Some of those charms faded over the last few years as the global economy saw sustained slowdown, but more recently, India's big outsourcers have bounced back as global demand picked up. What's missing, however, is the usual exuberance among employees associated with a change in environment."This time the usual acceleration in wage pressure that accompanies improving demand seems absent... We note the bargaining power of companies with respect to entry-level employees is at its peak with real wages at their lowest in more than 15 years," Credit Suisse said in a report. The global investment bank conducted a detailed research on employment and salary patterns of Tata Consultancy Services (TCS) employees and concluded that the average wage hike (7 per cent) for offshore employees in 2013-14 was at multi-year low. TCS is India's biggest outsourcer with nearly 3 lakh employees. |
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| Source : 25-11-13 Profit.ndtv.com Compiled by Amresh Anjan |
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| Lack of Industry Exposure Proves Costly For Indian Management Graduates: Survey |
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| Lack of industry exposure and functional experience proved to be costly for the recent management graduates from the country, as it was seen as a red flag for employment, said a survey conducted by the Graduate Management Admission Council (GMAC). As per the findings of the survey, lack of industry exposure, inadequate pay and over-qualification are the main hindrance that prevented Indian management students from landing a job in 2013. A staggering 47 percent of the respondents cited the lack of industry exposure as the main reason behind their inability to land a job, while both inabilities to find a job that pays enough and over-qualification fetched 29 percent votes respectively. On a positive note, Mr. Gregg Schoenfeld, Director, management education research at GMAC, said that all is not gloomy for MBA grads from India. A healthy 87 percent of Indian management students surveyed are employed, out of which 83 percent are working for an employer and 4 percent are self-employed. |
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| Source : 22-11-13 Jobs.siliconindia.com Compiled by Amresh Anjan |
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| Sebi to increase headcount; finalises 75 applicants |
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| Market regulator Sebi today finalised 75 applicants for the officer level job as part of its plan to beef up its headcount for faster and more effective execution of newly granted powers. The Securities and Exchange Board of India (Sebi) said that these "appointments are subject to satisfying the age limit, educational qualification along with minimum marks (as required) and other eligibility criteria." Sebi has embarked upon a major recruitment drive to carry out its newly granted powers and expanded role to regulate various segments of capital markets, while safeguarding the interest of investors from fraudsters and other manipulators. |
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| Source : 21-11-13 Business-standard.com Compiled by Amresh Anjan |
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| Government may relax salary norm for foreign faculty visa |
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| India may consider relaxing the minimum salary threshold for issuing work visas to foreigners willing to work in Union government-funded higher education institutes, according to two government officials aware of the plan. The human resource development (HRD) ministry expects this will help its institutions get foreign professors at lower salaries and has written to the home ministry urging the visa relaxation. It has begun discussions on this matter, with the next round of deliberations with the home ministry scheduled for Friday, the officials said, both of them declining to be identified. "It's a requirement for the growth of our top central government-funded technical institutes (CFTIs)," one of the officials said. "The home ministry listened favourably to the HRD ministry's point during the previous meeting. And in the Friday meeting, we believe it will make further progress," the second official said. According to the home ministry's guidelines, foreigners seeking work visas need to be drawing a minimum salary of $25,000 a year (Rs.15.73 lakh at the current exchange rate). |
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| Source : 22-11-13 Livemint.com Compiled by Amresh Anjan |
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| TCS to step up automation, chase non-linear growth |
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| India's top software exporter Tata Consultancy Services Ltd (TCS), which now employs more people than every technology firm in the world except International Business Machines Corp. (IBM), plans to step up automation in some of its commoditized information technology (IT) service lines and chase more non-linear growth that does not depend on increasing revenue by adding headcount. Also, entry-level salaries for fresh engineering graduates joining TCS next year will remain stagnant and the company has no immediate plans to raise salaries, said TCS's global head of human resources Mr. Ajoy Mukherjee."This year, salaries will remain the same as what we offered last year. It has not changed. In future what will happen, we have not decided yet," said Mr. Mukherjee. |
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| Source : 22-11-13 Livemint.com Compiled by Amresh Anjan |
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| Are you #trending? Recruiters 'like' you? |
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| Digital proficiency of candidates is working out to be the most crucial attribute companies are looking for in prospective employees. While summing up their hiring decisions, companies are bent on ensuring that the selected candidates are capable of working in a virtual environment, are well-versed with social media, and if they have created communities online. Mr. Ajoy Mukherjee, global HR head at TCS, says global organisations require teams to work in a virtual environment. "A candidate might not know much about analytics and big data. But level of awareness about social media, ability to see the big picture, and ability to work smoothly in virtual teams is necessary." A recent survey by HR firm Randstad states that employees' social and digital skills, along with education and job experience, are more important now than they were five years ago. The survey, conducted among 400 employees in India, states that about 90% of the surveyed employees expect their job requirements to be more demanding in the next five years. Moreover, about 52% of the employees in India fear they will not be able to meet their job requirements in future, while others are committed to doing anything to deliver what their job would expect of them. |
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| Source : 26-11-13 Dnaindia.com Compiled by Amresh Anjan |
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| Slower hiring, falling commissions, force over 7,000 job search firms to shut shop |
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| India's economic slowdown, which led to a drop in hiring in the last two years, has hit recruitment firms hard. Thousands of selection firms, which recruit candidates for mid-and-junior level positions, have shut down, hit by employers pruning commissions and bill payments getting delayed, said industry officials. In fact, well over 7,000 selection firms have shut their businesses according to the Executive Recruiters Association (ERA), which represents the head-hunting industry. As costs are under pressure and recruitment is moving in-house, about 7,800 staffing firms have shut their businesses in the last two years," Mr. Deependra Nigam, vice chairman, ERA, told HT. |
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| Source : 26-11-13 Hindustantimes.com Compiled by Amresh Anjan |
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| BJP promises 15 lakh government jobs, loans for students in Rajasthan poll manifesto |
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| Three days after the ruling Congress released its please-all manifesto, the opposition Bharatiya Janta Party announced loans to farmers and unemployed youth, 15 lakh government jobs and 5% quota for Gujjars and other backward castes if voted to power in Rajasthan. Releasing the 60-page document the party prefers to call Suraj Sankalp Patra-2013, BJP chief minister candidate Ms. Vasundhara Raje said the party will provide loans up to Rs20 lakh at 3% interest to registered unemployed youths and farm loans at 1% interest. She also announced 15 lakh jobs will be created in the government sector and the controversial Teachers Eligibility Test will be reviewed. The BJP waited for the Congress manifesto and tried to fill in gaps in its document, covering almost every section of the society, with special focus on the rural folk. |
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| Source : 20-11-13 Hindustantimes.com Compiled by Amresh Anjan |
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| BlackBerry replaces CFO; others exit, in executive shakeup |
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| BlackBerry Ltd (BB.TO) said that three top executives, including its chief financial officer, are stepping down as recently appointed Chief Executive Mr. John Chen embarks on his promised shakeup at the struggling Smartphone maker. Mr. Chen brought in as interim CEO earlier this month after the company dropped a plan to sell itself, said BlackBerry is setting its marketing sights on corporations, governments and the big clients that were at the root of its early success. BlackBerry named Mr. James Yersh to replace Mr. Brian Bidulka as CFO. Mr.Yersh has worked with BlackBerry since 2008, serving as its senior vice president, controller and head of compliance. Mr. Bidulka will stay on through March 1 as special adviser to Mr. Chen. Chief Operating Officer Ms.Kristian Tear and Chief Marketing Officer Mr. Frank Boulben are also leaving. Mr. Tear played a key role in BlackBerry's latest restructuring, while Mr. Boulben was instrumental in the company changing its branding and name to BlackBerry from Research in Motion. |
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| Source : 26-11-13 In.reuters.com Compiled by Amresh Anjan |
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| TCS to recruit 25000 candidates via online campus placements |
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| Tata Consultancy Services (TCS) which is one of the well known IT firms in India has changed the pattern in which they conduct campus recruitments. Now the entire process of campus placement has become digitized. TCS has announced that they will be hiring candidates that have graduated from the 2013 batch to fill up around 25, 000 positions available with the company. Digitization of the hiring process will ensure prevention of fake offer letters and fraud employments. Online job application process is also more appealing to the younger generation. For campus placements, TCS has tied up with more than 450 institutes. The candidates will be referred by the Campus Placement Officers. These candidates then have to register online with TCS's online recruitment portal NextStep. |
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| Source : 25-11-13 Indiancolleges.com Compiled by Amresh Anjan |
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| Saudi Arabia seeks to allay fears in India over new labour law |
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| In its first reaction since the controversial drive under a new labour law, Saudi Arabia today said that over 1.4 million Indians have regularised their job status and asserted that action was taken against illegal workers irrespective of their nationality. Amid concerns over return of large number of Indians following implementation of the 'Nitaqat' legislation, the Embassy of Saudi Arabia said that the Indian community has benefited the most from the grace period offered to regularise the job status, which expired on November 3, with its size going up to nearly 2.8 million and complimented its contribution to the Kingdom. It said the legislation is being implemented with an aim to ensure that all immigrants living in the Kingdom have "correct legal status" and claimed that no legal worker has been affected. "As far as Indian community in the Kingdom is concerned, it is the community that has benefited the most from the grace period. According to available data, more than 1.4 million Indians regularised their status during the grace period. "Moreover, during the six months of the grace period, the size of the Indian community in the Kingdom has gone up to nearly 2.8 million," the embassy said in a statement. The Nitaqat law makes it mandatory for local companies there to hire one Saudi national for every 10 migrant workers. |
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| Source : 21-11-13 Thehindu.com Compiled by Amresh Anjan |
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| Mr. Narayan Murthy's cost-cutting plan: Reduce senior execs onsite; employ more night staff |
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| Infosys chief Mr. NR Narayana Murthy has said the company is looking at reducing the number of top officials and subcontractors at onsite locations in a bid to reduce operational costs, according to Barclays. The cost cutting strategy also includes more night shifts in its offshore facilities in India as well as improving its internal training mechanisms. Infosys is running a pilot project where it is deploying employees at offshore locations to work in night shifts to support its clients based in North America. Night shifts would become necessary if offshore staff have to interact with US staff or clients on a real time basis. "Management has identified three areas to reduce its employee costs," Barclays said in a note about its analyst meeting with Infosys Executive Chairman Mr. Murthy. "Decrease the proportion of senior people onsite by rationalising its role ratio; reduce the usage of subcontractors by improving internal training; and reduce the number of people in onsite locations in business enabling functions," Barclays said about the management's strategy. |
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| Source : 27-11-13 Firstpost.com Compiled by Amresh Anjan |
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| India ranks 83rd globally in talent competitiveness |
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| Indicating acute shortage of skilled workforce, India has been ranked 83rd globally in terms of talent competitiveness of its human capital, while Switzerland has topped the charts. In the list of 103 countries, compiled by INSEAD business school in partnership with Adecco and Human Capital Leadership Institute of Singapore (HCLI), Switzerland is followed by Singapore, Denmark, Sweden and Luxembourg in the top five ranks. The UK and the US are ranked 7th and 9th respectively, while Netherlands (6th), Finland (8th) and Iceland (10th) also made it to the top-10. The Global Talent Competitiveness Index ranking was heavily dominated by European countries as the top 10 include only two non-European nations -- Singapore and the US. Among the large emerging market economies, China was ranked 47th, followed by Russia (51) Brazil (59) and India. |
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| Source : 26-11-13 Financialexpress.com Compiled by Amresh Anjan |
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