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11 % Recruiters From The Auto Sector Say No Hiring In Coming Months And 5% Predict Layoffs: A Naukri.Com Survey |
| The Indian Auto market has slowed down in the last few months owing to a combination of service changes, tax hikes and slowing auto sales. A survey with recruiters from the Auto sector revealed a cautious sentiment with 65% expecting to add jobs in the coming months. A similar survey done in the beginning of the year had seen none of the recruiters predicting any layoffs or hiring freeze. However, now about 11% recruiters anticipate a hiring freeze and about 5% say that there could be layoffs as well. A look at the recruitment trends for the sector in 2012 shows that the year began on a positive note and then the overall job growth for the sector remained more or less flat in the first half of the year. However, June-2012 onwards there has been a continuous month on month dip in hiring activity. Aug-12 saw 14% lower hiring than June-12 and 12% lower than what it was six months ago. |
| Source : 01-10-12 Naukri.com Compiled by Amresh Anjan |
| E-Mails From Bosses Ruin Weekends For Over 40% Employees |
| At least 40 per cent workers have admitted that weekends are no longer a time to get away from the stress of office as they regularly get weekend emails from their boss, a new survey has found. A study by Right Management of over 600 employees in the US and Canada found that 40 per cent of workers get emails from their boss on weekends, who they say expect a response. "It's one thing to get broadcast or informational emails after office hours, but it's now a given that everyone has to check their emails at least once a day, Saturday and Sunday included," said Michael Haid, senior vice president of talent management for Right Management. |
| Source : 24-09-12 Financial Express Compiled by Amresh Anjan |
| International Labour Organisation Norms For Worker Protection |
| Unorganized labour in India may finally get a voice, with the country planning to adopt international norms for their protection. Labour minister Mallikarjun Kharge said India would adopt the International Labour Organisation(ILO) norms for protecting workers' right to collective bargaining, and for upgrading occupational safety standards. India, which holds a permanent seat at the governing body of ILO, has so far ratified 43 of the 189 Conventions. Ratification of the ILO Conventions will encourage voluntary negotiations in order to regulate terms and conditions of employment through collective agreements. There is no legal compulsion so far on employers to enter into a collective bargaining with worker unions. The Conventions also protect workers against any act or acts by an employer to make the employment of a worker conditional on desisting from union membership. |
| Source : 27-09-12 Financial Express Compiled by Amresh Anjan |
| Tech Firms Attempt To Shed Job Taker Tag In U.S. |
| Indian tech companies in the U.S. are stepping up efforts to ensure they are not perceived as taking away jobs. Tata Consultancy Services has opened another development centre in Minneapolis, Minnesota. The 300-strong facility will serve as a delivery hub for its regional customers. Infosys has opened a new centre in Milwaukee, Wisconsin, that seats 125 employees. The facility will support marquee client Harley Davidson. MindTree has set up its first development centre in Gainesville, Florida, andiGATE's new development centre in Washington DC is slated to create 250 new jobs. The expansion in the U.S. market is driven by the need to improve the image of Indian IT in a presidential election year. Clients are increasingly demanding that companies be present locally. That, coupled with a higher rate of visa rejections, has changed the dynamics of outsourcing. |
| Source : 26-09-12 Hindu Business Line Compiled by Amresh Anjan |
| Hiring Managers Prefer Senior Workers Over The New Generation |
| Mature workers in the 50-plus age group stand three times higher chances of being recruited than Gen Y. According to a study by staffing and recruiting agencyAdecco, hiring managers have a greater affinity for mature workers than for Gen Y, or those born between 1981 and 2000. Sixty-six percent female hiring managers said they were more likely to hire a mature worker than their male counterparts, of whom 52 percent agreed. About 91 percent respondents valued mature workers for their reliability, 88 percent professionalism and 75 percent a positive work ethic. However, the greatest challenge 39 percent reported in hiring mature workers was the comparative difficulty in learning and adapting to new technologies. Older workers often lacked self-promotion skills, thus failing to push their case and secure a job, the survey of some 500 hiring managers in the U.S. found. |
| Source : 26-09-12 Indian Express Compiled by Amresh Anjan |
| International Monetary Fund Worries About High Global Unemployment |
| The International Monetary Fund (IMF) has called for a "strengthened analysis of labour markets" in the backdrop of persistently high joblessness. The global economic slowdown is expected to push up unemployment 3 percent this year. Citing International Labour Organisation (ILO) data, IMF said unemployment worldwide may reach 202 million in 2012, up from 196 million in 2011. The number approximately equals the combined population of Australia, Mexico, Switzerland and the U.K. Unemployment among youth may touch 75 million this year, which is nearly the size of Turkey's population. Demand in developed nations has slackened, which in turn has caused emerging economies to slow. Employment or training guarantee schemes, especially for the young workforce, could act as a safeguard against the slowdown. In this regard, India's national rural employment guarantee scheme (NREGA) drew appreciation from ILO. |
| Source : 25-09-12 Financial Express Compiled by Amresh Anjan |
| Low Capex Growth May Affect Hiring Says Morgan Stanley |
| Morgan Stanley said capital expenditure (capex) growth in India may be just 9 percent and hiring will be restricted only to junior levels. As far as hiring is concerned, there will be an additional 5 percent increase in the employee base. At the segment level, salary growth in FY12 in large businesses substantially exceeded that at midsize companies. Salary increases will be low in consumer, healthcare, industrials and utilities in FY13 compared to last year. Growth will be higher in commodities, financials and technology, media and telecom. More companies may prefer hiring at the junior level rather than at senior levels. They continue to rely on utilising profits and bank credit as key sources of funding. Equity supply will likely be subdued for the third successive year, Morgan Stanley analysts Sheela Rathi and Ridham Desai said. |
| Source : 25-09-12 Financial Chronicle Compiled by Amresh Anjan |
| Barclays Will Shut Down Three India Branches |
| Barclays will close three of its nine branches in India by the month-end. The move is part of a plan to reduce focus on retail banking operations. Home-grown lenders such as State Bank of India and ICICI Bank are giving a rough time to foreign banks in the local retail market. The British bank is expected to cut up to 40 jobs as a result of the closure of the three branches. The branches are in Rajahmundry in Andhra Pradesh, Ahmednagar in Maharashtra and Junagadh in Gujarat. Some smaller branches are also slated for closure over the next few months. The decision was taken to sharpen Barclays' focus on corporate and investment banking and wealth management in India, the bank said in a statement. Only a core network of branches will cater to high net worth individuals. |
| Source : 25-09-12 Financial Chronicle Compiled by Amresh Anjan |
| Talent Development Lessons From Philippines |
| Indian IT is picking up business in the Philippines by setting up BPOs in that country. Companies including Genpact, Hinduja Global Solutions, Infosys, Aegis,HCL Technologies, Wipro and WNS Global Services have set up their offices there. These companies are servicing global clients from their centres there. The Aegis BPO, for instance, has six centres and a workforce of about 12,000. The spoken English accent is more acceptable to clients in the U.S. and the U.K. The Philippines' time zone too is an advantage. Moreover, the Government supports the BPO industry in a big way. Pramod Bhasin, vice chairman, Genpact, says there are lessons to be drawn from the Philippines in terms of government commitment to talent development as well as better infrastructure which cuts commute time. |
| Source : 25-09-12 Hindu Business Line Compiled by Amresh Anjan |
| Brokerages May Start Recruiting Again Next Year |
| Stock brokers may start hiring again from next fiscal if investor sentiment revives. Hundreds of analysts, dealers and back office staff have lost their jobs since the 2008 meltdown. The total number of employees dropped by more than 1,000 in the last one year, data available with Capitaline shows. Geojit-BNP Paribas Financial Services saw a decline of 491 people between 2011 and 2012. Emkay Global Financial Services saw a reduction of 239 during 2010-12. CJ George, managing director, Geojit BNP Paribas, attributed the decline to the firm's decision not to fill vacancies created. If volumes look up, all broking firms will begin to hire once more, he added. Motilal Oswal, chairman and managing director, Motilal Oswal Financial Services, says sentiment may improve as the markets have responded well to the recent reforms announced by the Government. |
| Source : 24-09-12 Financial Chronicle Compiled by Amresh Anjan |
| Ford, As Well As Lumeris Plan To Expand India Workforce |
| Multinational companies are gearing up to boost their headcount in India, The Hindu Business Line reports. Ford is planning to hire nearly 1,200 employees in the next one year at its facilities in Maraimalai Nagar and Coimbatore. Joe Hinrichs, president, Ford Asia-Pacific and Africa, communicated the plans to Tamil Nadu Chief Minister J Jayalalithaa. The company started its plant in Maraimalai Nagar in 1995. It has a workforce of nearly 5,200 employees. IT solutions provider Lumeris is also planning to recruit 2,000-3,000 people globally in the next three years. A large number of these will be for India, said W Michael Long, chairman and CEO of Lumeris and Essence Group Holdings. The company has a development centre in Hyderabad which employs 110 people. It is focused on developing cloud-based technology that has assisted in healthcare reforms in the U.S. |
| Source : 24-09-12 Hindu Business Line Compiled by Amresh Anjan |
| L&T Mutual Fund Appoints Soumendra Nath Lahiri As Equity Head |
| L&T Mutual Fund has announced the appointment of Soumendra Nath Lahiri as the Head of Equity. Soumendra Nath Lahiri was, prior to this, Head of Equities at Canara Robeco Asset Management Company. He has over 17 years of experience in equity investment and research and has worked with Investment Managers and Fortuna Capital. He was also Co-Head - Equities with DSP Black Rock Investment Managers.L&T Mutual Fund had earlier this year bought over Fidelity Worldwide Investments' Indian mutual fund business. |
| Source : 24-09-12 Hindu Business Line Compiled by Amresh Anjan |
| Reliance Life To Hire 40,000 Advisors |
| Reliance Life Insurance today said it has hired over 10,000 advisors so far this fiscal and plans to appoint 40,000 more in the next six months.The large-scale hiring drive is part of Reliance Life's plans to strengthen its advisor base and it is focusing on Tier II and Tier III cities to hire the insurance advisors, the private sector insurer said." We have added close to 10,000 insurance advisors in the past few months and are targeting to recruit 40,000 more by the end of the current financial year to increase our reach," Reliance Life (R-Life) President and Executive Director Malay Ghosh said in a statement. |
| Source : 27-09-12 Indian Express Compiled by Amresh Anjan |
| HDFC Hires Three Senior Management Employees In Its Investment Banking Division |
| HDFC Bank hires three senior hands in its investment banking division anticipating a surge in deal-making with revival of sentiment. The bank has hired Dr. Abhishek Sharma from MAPE Advisory who will cover the healthcare and pharma sector. Ajay Gupta from GE Capital will head the banks infrastructure finance business and Akshay Dixit from MAPE Advisory will oversee the corporate finance business. Mr. Aditya Puri is now investing in building investment banking capabilities unlike some of the bank's peers which looked at acquiring teams and capabilities to build this business. |
| Source : 01-10-12 Rupeetimes Compiled by Amresh Anjan |
| Hiring Slowdown Takes A Toll On FMCG |
| Owing to economic slowdown, the number of new jobs would fall by a whopping 3 million this fiscal, according to economist Bibek Debroy. Hiring slowdown depletes purchasing power of consumers and savages consumer confidence, say experts. And fast moving consumer goods (FMCG) companies are not pleased one bit – after all, they feel the pinch most. With GDP growth estimates coming down sharply of late, there is a huge risk to new jobs. Mr. Debroy says when gross domestic product or GDP grows at 7%, the economy would create 10.5 million new jobs in a year. But, if the GDP growth rate slips to around 5%, as is happening in India this fiscal, there would be only 7.5 million new jobs. |
| Source : 19-09-12 DNA Compiled by Amresh Anjan |
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