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Better Bonuses In Offing This Diwali |
| Employees may expect good bonus payouts from their employers this Diwali, as positive sentiments are trickling in at the companies from a slew of reforms announced by the government amid an improving economic climate in the country, according to experts.More companies are planning to give out bonus to their employees as compared to last year this festive season, HR professionals have said.These bonuses can come in form of cash payouts as a percentage of the total salary, special festival incentives, gifts and a larger portion of employees' total variable pay.According to a survey by human resource consultancy MyHiringClub.com, 65 per cent of private sector employers and 95 per cent PSUs are planning to give bonus to their employees this festive season.This is an increase by 12 per cent in private sector and 3 per cent in public sector employees last year. |
| Source : 28-10-12 Financial Express Compiled by Amresh Anjan |
| Indian Firms Add To U.S. Jobs In Reverse Offshoring |
| The U.S. says Indian companies have created 50,000 jobs in the country.. Describing their relationship as a two-way street, U.S. Deputy Secretary of State William Burns said both countries were focused on attracting growth and investment. The Tata factory in Ohio has given jobs to thousands of Americans. India, on the other hand, has created a huge number of opportunities for small, medium and large U.S. businesses. Many Indian and U.S. companies that have outsourced jobs are now reversing the trend, adds Business Standard. Among them are icons such as General Motors, General Electric and software developer Galaxe.Solutions. The thinking seems to be that it is better to have some complex functions such as HR and software development closer to their own operations and customers. State tax breaks are also an incentive to hire locally. |
| Source : 28-10-12 Hindu Business Line Compiled by Amresh Anjan |
| Ad Agencies Prime Up HR In Scramble For Talent |
| Advertising agencies are launching various HR initiatives to attract and retain talent. Senior talent has been crossing the floors in JWT India, Mudra Group and Dentsu India, for instance. Now RK Swamy BBDO is offering profit-sharing and long-term benefits to employees. Chairman and managing director Srinivasan Swamy says the cost of talent is continually on the rise, so remuneration rates have to be competitive. Agencies are also focusing on talent development. Draftfcb Ulka has launched a Star One Trainee Programme at the entry level. Group M India, of the WPP Group, is attracting talent with marketing plan creation and execution opportunities, according to Vikram Sakhuja, who is preparing to head Maxus Worldwide, another Group M company. The Advertising Agencies Association of India is also looking at major initiatives for attracting talent into the industry, said President Arvind Sharma. |
| Source : 28-10-12 Financial Express Compiled by Amresh Anjan |
| Family Businesses Fare Well, But Need More Talent |
| Family businesses in India seem to have weathered the economic slowdown. According to the Family Business Survey 2012 conducted by PricewaterhouseCoopers (PwC), a significant number of Indian family firms are anticipating steady and aggressive growth in the next five years. However, they need to continually innovate and recruit skilled staff. PwC India Executive Director Indraneel Roy Chowdhury said Indian family businesses are less shaken up by the general economic situation. About 74 percent firms witnessed growth in sales last fiscal, compared to the global average of 65 percent. The business structure was a resilient model for the 21st century, offering significant advantages, especially in terms of agility and flexibility, continuity and longevity, the survey said. Only 8 percent of family businesses in India saw sales come down from last year's levels, compared to 19 percent globally. |
| Source : 28-10-12 Financial Express Compiled by Amresh Anjan |
| Employee Performance Review Is No More A 'Dreaded Day Of Judgement' |
| Companies are doing away with annual reviews. In their place, periodic reviews are being used for getting staff input and making management more participatory. Half-yearly reviews have picked up as companies realise that it is important to hold regular conversations with employees, says Muninder Anand, director, information product solutions, Mercer. A host of companies have moved to half-yearly reviews and still others are looking at quarterly performance appraisals. Performance management systems are being seen as a cutting edge talent retention strategy. They are becoming more relevant as the workforce gets younger and increasingly restless. According to Sameer Wadhawan, vice-president, HR and services, India and South West Asia, Coca-Cola India, appraisal was earlier perceived as a tool for taking decisions on the quantum of increments, but of late it has evolved into a tool for career development. |
| Source : 28-10-12 Business Standard Compiled by Amresh Anjan |
| Electronics Policy Aims At 28 Mn Jobs In 8 Years |
| The Government has announced a national electronics policy that will create 28 million jobs in the next eight years. The policy is expected to create an indigenous manufacturing ecosystem for electronics in the country. It is seeking to channel $100 billion investment into electronics systems design and manufacturing (ESDM). Electronic manufacturing clusters will be set up for promoting ESDM and preferential market access will be given to electronic products manufactured domestically. The $1.75 trillion global electronics industry is the fastest growing sector in the world. It is expected to grow to $2.4 trillion by 2020. In India, it has strategic importance as it will lead to greater economic growth and more employment. The policy will lay special focus on skill development by augmenting postgraduate education with a view to adding about 2,500 PhDs a year by 2020. |
| Source : 27-10-12 Financial Chronicle Compiled by Amresh Anjan |
| Vivaki Exchange Ropes In Harsha Joshi As COO |
| VivaKi India has appointed Harsha Joshi as COO, VivaKi Exchange, to spearhead and oversee the media buying for Starcom MediaVest Group and ZenithOptimedia. Prior to this, Mrs. Joshi was with Spatial Access Media Solutions, where she was CEO SA3 - Media & International. In her new role, Mrs. Joshi will report into Mona Jain, CEO, VivaKi Exchange. |
| Source : 25-10-12 Exchange4media Compiled by Amresh Anjan |
| Gallup Says One In Four Indians Holds A Good Job |
| A Gallup survey has found that the number of Indians with good jobs is on the rise. About one in four Indian adults, or 26 percent, was employed full time in the first half of 2012, said the "Payroll to Population" survey. The data does not prove that the economy is on the mend. It is a clear indicator of employment which remains unaffected by the shifting size of the workforce and is highly correlated with GDP, the study said. Indians between the ages of 15 and 30 are as likely as their older counterparts to be employed full time for at least 30 hours per week, but nearly five times more likely to be unemployed and twice as likely to be underemployed. However, more than one in five young Indians, or 22 percent, with full-time employment held white-collar jobs. |
| Source : 27-10-12 Business Standard Compiled by Amresh Anjan |
| Titan Industries Names Chairman |
| Vikram Kapur will be chairman and director of the Titan Industries board.Mr. Kapur is principal secretary of the Tamil Nadu Industries Department. He succeeds Mr. N Sundaradevan. |
| Source : 26-10-12 Business Standard Compiled by Amresh Anjan |
| Women Still Trail Men In Jobs, Wages & Boardrooms |
| Women are still far behind men when it comes to getting top jobs and salaries. The Global Gender Gap report by the World Economic Forum (WEF) covered more than 90 percent of the world's population and looked at how resources and opportunities were distributed between women and men. Nordic countries, headed by Iceland, Finland and Norway, came out tops in gender diversity. Chad, Pakistan and Yemen had the worst rankings. While almost all countries had made progress in closing the gap in healthcare and education, only 60 percent of countries had managed to narrow the economic gender gap, the report said. A separate study on "Board Diversity in India", conducted by the Institute of Public Enterprise, Hyderabad, placed India 38th in the world in terms of women representation on boards. |
| Source : 25-10-12 Hindu Business Line Compiled by Amresh Anjan |
| Lack Of Skills A Dampener On Big Data Potential |
| Big data is expected to create 4.4 million jobs in IT but there is not enough talent to meet the requirement. A study by research and analyst firm Gartner found that IT spending is estimated to exceed $3.7 trillion in 2013, up 3.8 percent from the projected expenditure of $3.6 trillion in 2012. According to Peter Sondergaard, senior vice president and global head of research at Gartner, 4.4 million IT jobs will be created globally by 2015 to support big data. Of these, 1.9 million jobs will be in the U.S. However, enough talent is not available in the industry. Because of the inadequate public and private education systems, only a third of the jobs will be filled, Mr. Sondergaard added. With big data set to be the future of IT, industry leaders need to focus on how to attract the skills required. |
| Source : 23-10-12 Hindu Business Line Compiled by Amresh Anjan |
| Internal Networks Get Popular, Foster Collaboration |
| Employee interaction and ideation are getting a boost with companies using their own social media networks. Today, when ideas are shared more informally through blogs or status updates on social media, it makes sense for companies to have internal networks. It fosters collaboration and aids knowledge management as well. At Infosys, employees communicate through the InfyBubble. Emails or messages centred on a topic of discussion are circulated among employees. The whole project team starts giving their ideas on the thread itself, says Nandita Gurjar, senior vice president, group head of HR. A solution is arrived at based on the most "liked" comment. Networks are also leveraged to improve learning. Deepa V Mukherjee, head training and development, NIIT Technologies, says the company uses Yammer's customized enterprise social network as its internal social media platform for employees. |
| Source : 23-10-12 Mint Compiled by Amresh Anjan |
| UBS To Cut 10,000 Jobs In Fixed Income Retreat |
| Swiss bank UBS (UBSN.VX) unveiled plans on Tuesday to fire 10,000 staff and wind down its fixed income business, returning to its private banking roots as it adapts to tough capital rules that make it harder to turn a profit from trading.Zurich-based UBS will focus on wealth management and a smaller investment bank, ditching much of the trading business that ran up $50 billion in losses in the financial crisis. |
| Source : 23-10-12 Reuters.com Compiled by Amresh Anjan |
| Hiring At Senior Level Takes A Hit, Caution In Job Market |
| A mood of caution will prevail on hiring front over the next six months as recruitment in some sectors is off-set by headcount freeze or retrenchment in others, according to a survey by a job search portal. "A mood of caution amongst employers sets the tone for recruitment in the coming six months with hiring in some industries being offset by a headcount freeze or even retrenchment in others," HeadHonchos.Com has said.The outlook is even more subdued in the case of senior positions, raising concerns around investment in greenfield projects and future growth plans of India Inc, it said in 'Management Hiring Perspective Report 2012' released today.Of the 51% 'optimist employers' - those who anticipate an increase in head count in their organisations - 87% expect to grow the total employee strength by 6-20%, the report said.However these gains are offset to an extent by stagnant headcount or active downsizing in the remaining 49% of employers. Against an overall projected increase in headcount of 5-5.5% across all levels, a weak 2% growth is expected at senior levels. |
| Source : 30-10-12 Business Standard Compiled by Amresh Anjan |
| Persistent Systems Picks Innovation Head |
| Persistent Systems has appointed Sridhar Jagannathan as the chief innovation officer. He was earlier heading technology and global engineering at Intuit. |
| Source : 25-10-12 Business Standard Compiled by Amresh Anjan |
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