Google, Makemytrip Among Top Five Workplaces In India Google India, Makemytrip, Marriott, Intel and American Express were adjudged as the 'Best Companies to Work' in India this year in a study conducted by Great Place to Work Institute. As per the study, Google India, Intel Technology, Makemytrip, American Express India, Marriott Hotels are top five among the top 50 companies in India, Great Place To Work Institute India's CEO, Prasenjit Bhattacharya said here. Great Place to Work Institute is a pioneer in studying and recognizing the best workplaces around the world. For over 25 years and in 45 countries, the Institute has been conducting studies to identify and understand the best workplaces. Mr. Bhattacharya said that the overall expectation of employees remain the same as in 2010. Companies are putting in place new initiatives to retain talent like Makemytrip.com offering 70 per cent Esops to its workforce and American Express has special pregnancy care programme for female employees etc. The top 50 best workplaces are concentrated in Mumbai, NCR and Bangalore, but also have representation from Chennai, Pune, Vizag, Ahmedabad and Ludhiana.
Source : 17-07-11 Financial Express Compiled by Amresh Anjan
Executives In Their 40s Setting Up Own Businesses A large number of top executives in their forties are quitting corporate jobs to establish their own businesses. The longing to be their own bosses and follow their interests is prompting executives to set up their own ventures. Suman Srivastava quit as CEO of advertising agency Euro RSCG to create a marketing innovation firm Marketing Unplugged. Hindustan Unilever's HR Head Harish Devarajan quit to set up People Unlimited, a leadership development consultancy. According to Mr. Devarajan, the move allows him to devote a large amount of time to leadership development which was not possible at his previous company. Richa Arora quit as Britannia's head of marketing a couple of years ago to set up her own business. Although several people said that it was rather silly to do so, starting a new business needs some risk-taking, she says.
Source : 16-07-11 Hindu Business Line Compiled by Amresh Anjan
Cantabil Retail Appoints New CFO Delhi based apparel retailer Cantabil Retail India said that it has appointed Abani Kant Jha as Chief Financial Officer. Mr. Jha will take over from Sunil Chopra, who resigned from the post with effect from March 10, 2011 citing personal reasons, the company said in a filing to the BSE.
Source : 16-07-11 Hindustan Times Compiled by Amresh Anjan
Firms Avoid High Cost Professionals: Globalhunt India Firms appear to be avoiding appointing high cost professionals with more experience, according to GlobalHunt India. Nowadays, at the top level, often a professional with 15 years of experience is performing the same task as a professional who has worked only eight years in the industry. Consequently,companies are opting for the executives with lesser experience as they are less expensive, according to Sunil Goel, director, GlobalHunt India. Global Hunt India is a recruitment solutions company. According to Mr. Goel, firms are recruiting employees for top posts by evaluating the 'relevancy of their experience'. Around 5-10% of executives in senior management are high cost professionals, he adds. Sectors such as infrastructure, power and energy as well as IT are seeing substantial recruitment across levels. However, demand for new manpower appears to have become sluggish in telecom, insurance, broking and real estate.
Source : 19-07-11 Business Standard Compiled by Amresh Anjan
HUL Doubles CEO Pay To Rs 7.91 Cr In 2010-11 Hindustan Unilever (HUL), the country's larg¬est consumer staples company, has more than doubled the pay of its managing director and chief executive Nitin Paranjpe in financial year 2010-11 as the company achieved its target of double digit volume growth and started to stabilise its market share across categories.HUL has increased Mr. Paranjpe's an¬nual compensation fr¬om Rs 3.18 crore to Rs 7.91 crore in fiscal year 2010-2011. Mr. Paranjpe's package for the year gone by included annual performance bonus of Rs 2.18 crore, perqui-sites of Rs 3.82 crore, contribution to provide¬nt fund of Rs 21,61,000 and base salary of Rs 1.68 crore
Source : 18-07-11 Financial Chronicle Compiled by Amresh Anjan
Igate-Patni To Recruit 7,400 In 2011-12 iGate-Patni, the combined entity after the merger of iGate and Patni Computer Systems, will recruit 7,400 employees in the financial year 2011-12, and indicated that it will be aggressive in hiring from next year."We are going to hand out 5,400 offer letters made by both sides this financial year. Besides, we are going to make another 2,000 offers by the year-end. We have been busy with the integration process this year. We will be far more aggressive (in recruitment) from next year. We have introduced a new recruitment system and compensation package," said Mr. Srinivas Kandula, Global Head (Human Resources) of iGate-Patni. The combined entity has a workforce of over 26,000 employees, with 16,400 from Patni and the rest from iGate.
Source : 18-07-11 Hindu Business Line Compiled by Amresh Anjan
TCS May Increase Local Hiring Indian IT giant TCS is looking at increasing local recruitment for onsite projects to counter rising denials of visas to its employees by the U.S. According to TCS CEO and Managing Director N Chandrasekaran, the firm will also plan visas and project implementation well in advance. A large number of employees are sent abroad, particularly to the U.S. and Europe, by Indian outsourcing firms to work at client sites. The $60 billion Indian IT industry earns over 60% of its revenues from the U.S. However, visa rejections are not U.S.-specific, adds Chandrasekaran. In 2010, fees for H-1B and L-1 visas were hiked by at least $2,000 for US-based firms with over 50% employees on such visas up till 2015. This is expected to mainly impact Indian IT companies such as TCS, Infosys and Wipro, raising costs for them by $200 million yearly.
Source : 18-07-11 Financial Express Compiled by Amresh Anjan
Rajagopal Srivatsa Joins Yes Bank As Group President Private sector lender Yes Bank has appointed Rajagopal Srivatsa as Group President — Liability Management and Transaction Banking.In his new role, Mr Srivatsa will be responsible for further developing liability offerings and executing segmented products and sales driven solutions, strengthening the product portfolio by pursuing and cross-selling trade finance, cash management services (CMS) and capital market solutions integrated with seamless product/sales management
Source : 18-07-11 Hindu Business Line Compiled by Amresh Anjan
Private Cloud Will Create 1 Lakh Jobs By 2015: Study According to a study by EMC and Zinnov Management Consulting the private cloud market in India is expected to generate around one lakh jobs over the next four years. The cloud market in India is likely to touch $4.5 billion by 2015.The survey projects a rapid growth in the skilling and re-skilling market in India. The study indicates that IT/ITES, telecom, BFSI, manufacturing and government sectors will form a major chunk of the Indian cloud market. According to Pari Natarajan, CEO of Zinnov Management Consulting, cloud computing will restructure the Indian IT market by creating new opportunities for IT vendors. The findings are based on a review of around 100 CIOs and IT decision makers in India across industries.
Source : 19-07-11 Financial Chronicle Compiled by Amresh Anjan
IT, ITES And Healthcare Sectors Witness 23% Attrition Rate In Q1 The information technology (IT) and healthcare sectors are witnessing the highest attrition rates among talented employees, making retention of critical manpower resources a key challenge.According to a study conducted by MyHiringClub.com, the IT and ITeS sectors saw the highest attrition rate of 23 per cent in the first quarter of 2010-11.The banking and financial services sector witnessed an attrition rate of 18 per cent, followed by healthcare (12 per cent), FMCG (11 per cent) and automobiles and manufacturing (11 per cent)."Attrition is a major problem with India Inc and it suddenly got increased in the first quarter of the current fiscal year. The major reason behind (this) was that firms had started paying more to newly hired employees."Beside pay packages, career level growth and relationships with supervisors are the other reasons for higher job attrition," MyHiringClub.com Founder and CEO, Mr Rajesh Kumar, said. The main reason for switching a job is pay packages (21 per cent), followed by career level growth (16 per cent), dissatisfaction with supervisors (15 per cent) and work pressure (14 per cent).
Source : 19-07-11 Hindu Business Line Compiled by Amresh Anjan
CSC Appoints New Biz Head For India Operations Narendra Nayak has been selected by Computer Science Corporation (CSC) to head a new business division that focuses on domestic Indian clients. In his new role, the ex-IBM employee will report to Brian Manning, president and managing director of CSC India.
Source : 19-07-11 Hindu Business Line Compiled by Amresh Anjan
Renault India Names Vice President Renault India has hired Rajiv Mitra as vice-president — public affairs and communications. He has replaced Ashish Sinharoy. Mr. Mitra will report directly to Sudhir Rao, deputy managing director and COO of Renault India, adds Rush Lane.
Source : 20-07-11 Financial Chronicle Compiled by Amresh Anjan
Female Employees Plan Tax Better According to a study by TaxSpanner, an online income tax return filing portal, female employees appear to be better tax planners as compared to their male counterparts. The study disclosed that the average tax ratio of salaried women in the main Indian cities is 4% in comparison to 6% for salaried males. Tax ratio is defined as the percentage of one's salary that one pays as tax. The study reviewed staff from more than 500 companies in cities, including the Delhi NCR, Mumbai, Chennai, Bangalore and Hyderabad. The research revealed that Chennai and the Delhi NCR had the lowest average tax ratio of 5%, followed by Mumbai and Hyderabad at 6% and Bangalore at 7%.As per the report, females appeared to be more adept at tax planning by claiming house rent allowance exemption and deductions for health expenditure.
Source : 20-07-11 Financial Chronicle Compiled by Amresh Anjan
Wipro's Attrition Rate Touches 23.2% In Q1 Swirling attrition continues to be a concern for Wipro, the country's third-largest software exporter, despite the company's recent makeover of its people management processes and HR policies. The company's attrition levels rose to 23.2% during the first quarter ended June 30 compared with 20.9% in the preceding quarter. Executives said the attrition was mainly at the 3-5 years experience level."More than 50% who left are in this bracket. People with 3-5 years of experience are the most valuable for any organization. And they are the most marketable as well. We did not give a salary hike for the last 16 months because of the restructuring, which delayed the appraisal cycle and many people left. We expect the attrition level to settle down in the coming quarters," said Saurabh Govil, senior vice-president, (HR), Wipro Technologies.
Source : 21-07-11 Financial Express Compiled by Amresh Anjan
IBM To Give 30% Salary Hike To Indian Top Performers As IBM celebrates hundred years of its existence, the IT giant is giving its top performers in India wage hikes of 25-30 per cent. India is the largest centre for IBM in terms of employee strength outside of the US.The tech major is giving its standard performers 15-20 per cent hike. For IBM, the salary hike is effective from July 1, according to two senior company officials. When contacted, IBM India spokes¬person said, "As a global policy we do not comment or share information on salary or related data."IBM's wage hikes appear higher than the average salary hikes doled out by peers such as Infosys, TCS and Wipro. For example, Wipro's annual cycle of wage revision effective June 1 saw offshore salary increases by 12-15 per cent and onsite increases at around 3-4 per cent. Similarly, TCS said in April that the Tata Group firm would give hikes to the tune of 12-14 per cent to its employees in the country. Infosys gave wage hikes, effective April 1, to the extent of 10-12 per cent for offshore employees while onsite hikes were in the order of 2-3 per cent.
Source : 20-07-11 Financial Chronicle Compiled by Amresh Anjan
Sistema Shyam Board Inducts Four New Directors Sistema Shyam TeleServices Ltd (SSTL), which offers telecom services in India under the MTS brand, today expanded its management board to 13 members from nine previously.The company appointed Mr Feliks Evtushenkov and Mr Alexey Buyanov as directors on the company's board, SSTL said in a statement. Additionally, the company also appointed former Tata Sky Managing Director and CEO, Mr. Vikram Kaushik, and the Indian Society of Advertisers Chairman, Mr Bharat Patel, as Independent Directors on the SSTL board. With these appointments, the SSTL board's strength is now 13 members, it said.
Source : 19-07-11 Hindu Business Line Compiled by Amresh Anjan
Reliance Broadcast Names Big Magic Sales Head Reliance Broadcast Network has hired Abhay Ojha as national sales head of its regional television channel Big Magic. He will be responsible for sales and revenue generation for Big Magic and report to Executive Vice President of Sales and Revenue Praveen Malhotra.
Source : 23-07-11 Exchange4media.com Compiled by Amresh Anjan
Indian IT Firms Start Leadership Programmes For Women IT firms are introducing leadership programmes for women in order to boost their number in senior management. Indian IT giants, such as Infosys and Wipro, have started workshops and implemented policies to help female personnel reach top management positions. Multinationals such as IBM, Cisco, HP etc, already have procedures in place for this purpose. Indian IT organisations have begun selecting women workers who can be prepared for future leadership through career programmes that teach them how to tackle personal and professional challenges. Smaller firms like MindTree and Mindteck are also training women to help them advance to senior positions. A diversity research, released last year, by Nasscom and PricewaterhouseCoopers shows that the promotion rate for women was the lowest in the IT industry. An assessment by Infosys a few years ago showed that the male to female ratio of eligible managers was skewed in favour of men. To correct this, the firm started including at least one female representative in promotion and recruitment panels. The firm has also started teaching first-time female managers about job-related competencies.
Source : 22-07-11 Financial Express Compiled by Amresh Anjan
Microsoft U.S To Recruit For Research From Indian Colleges Microsoft will start recruiting students directly from India's top colleges to work at its campus in Redmond. Currently, only its India unit, Microsoft Corporation India, hires directly from Indian colleges.According to S Somasegar, senior vice-president, developer division of Microsoft, Anna University will be amongst the first from which the company will hire for research and development. Microsoft is also providing software tools to all of the university's 570,000 students. Microsoft started operations in India in 1990, and has a head count of 5,300 in the country. It has six business divisions - marketing, development centre, global technology centre, Microsoft IT, Microsoft Global Services India and Microsoft Research.
Source : 26-07-11 Hindu Business Line Compiled by Amresh Anjan
Reliance Life To Add 6,000 Agents In 2011 Anil Ambani Group firm Reliance Life today said it will hire 6,000 insurance agents this year as part of plans to expand its reach in rural markets. Unlike the traditional model of paying commission to insurance agents on the basis of the business generated by them, the rural agents would be recruited under this new programme on a fixed income structure, the company said. These agents would also be paid a stipend during their training and induction period, a top official told visiting Indian journalists here."We have understood that in smaller locations, the agents take a longer time to come up the learning curve. With this initiative, we will provide them the necessary encouragement and support to help them join and stay in the insurance field," Reliance Life Insurance Company President and Executive Director Malay Ghosh said. This would be different from the current model, wherein the agent is on a pure commission structure, and a fixed component would also ensure that the agent would work full-time and be more committed to this job, he added.
Source : 21-07-11 Financial Express Compiled by Amresh Anjan
Volvo Auto India Appoints New MD Volvo Auto India, the luxury car arm of the Swedish automaker, has appointed Tomas Ernberg as its managing director. Mr. Ernberg, 40, who takes over from Paul de Voijs, has been associated with Volvo for the past 17 years. He was previously regional managing director for Volvo in Dubai, from where he managed 13 markets in West Asia and North Africa. During Mr. de Voijs' tenure, Volvo grew significantly in India, launching two luxury sports utility vehicles, XC90 and XC60, and two luxury sedans, S80 and S60.
Source : 21-07-11 Mint Compiled by Amresh Anjan
One Last Chance To Rub Shoulders With The Masters @NASSCOM HR Summit 2011 For a professional, there is always space and scope for new ideas and fresh thinking, given that transitions herald newer challenges and transformed roles. As HR professionals, have you already sensitized yourself to the changed needs of your employees? In order to discuss and deliberate upon the new normal for soft assets, your peers have joined NASSCOM HR Summit 2011 and we are even more confident that there is reason for you to be there too!We have closed the online registrations but there is still a chance for you to join the big league. You can walk in and register at the venue.
Source : 19-07-11 www.nasscom.in/hrsummit Compiled by Amresh Anjan
