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For TCS, hiking headcount a sign of better times ahead
India's largest software exporter Tata Consultancy Services (TCS) has announced it will hire 25,000 freshers in the next fiscal, an indication that the company expects strong growth in the years ahead."We had announced hiring plans for 45,000 people this year and have already hired 50,000. In the next financial year, we have decided to hire 25,000 freshers," said Tata Consultancy Services (TCS) CEO Mr. N Chandrasekaran. TCS is also looking at an increase in its personnel count in all other geographies. "Hiring in the US is on the increase and same is also true for other countries like the UK and Mexico," he said. Even as its competitors have taken a cautiously optimistic view of growth in the sector, TCS has remained confident of the outsourcing demand pipeline. Mr. Chandrasekaran said that the company expects an uptick in spending by clients in areas like digital technologies.
Source : 17-12-13 Indianexpress.com Compiled by Amresh Anjan
Blackstone India brings in changes at the top order
Investment and advisory firm Blackstone announced that Mr. Amit Dixit and Mr. Mathew Cyriac will jointly lead the firm's private equity business in India. They will take over this role from Mr. Akhil Gupta, who will assume the position of non-executive chairman of Blackstone India. In this role, Mr. Gupta will continue to help and guide Blackstone's activities in India, working closely with the heads of its businesses, the company said. In India, Blackstone, with an investment portfolio of over Rs 10,000 crore, has a team of 19 investment and portfolio operations professionals in private equity and 9 professionals in real estate. It has invested $1.7 billion of equity in 20 private equity transactions over the last eight years, to become one of the most active investors in India.
Source : 17-12-13 Indianexpress.com Compiled by Amresh Anjan
Citigroup elevates Mr. Anand Selvakesari to global role
Citigroup appointed Mr. Anand Selvakesari as the head of consumer banking for Asean, with immediate effect. Mr. Selvakesari will continue in his current role as Citi India's head of consumer banking, a position he has been holding since July 2011, the bank said in a press release. In addition to the India consumer and commercial banking businesses, Mr. Selvakesari will also be responsible for the consumer banking businesses in the Asean cluster, including Singapore, Malaysia, Indonesia, the Philippines, Thailand and Vietnam, the release added. The bank also appointed Mr. Kartik Kaushik as the deputy head of consumer banking in India, with effect from January 1, 2014. Based in Mumbai, Mr. Kaushik will report to Mr. Selvakesari, the release said.
Source : 17-12-13 Indianexpress.com Compiled by Amresh Anjan
Infosys may hire 16,000 from campuses next year
Infosys Technologies may hire up to 16,000 campus recruits next year, Chairman Mr. NR Narayana Murthy has said. "The fresher hiring process is underway and I think we are looking at hiring about 15,000-16,000 next year," Mr. Murthy said in response to a question on Infosys' fresher hiring plans. However, Mr. Murthy did not give overall hiring targets for the next fiscal.
Source : 19-12-13 Indianexpress.com Compiled by Amresh Anjan
Key Microsoft engineer defects to rival Google
Microsoft's greatly respected engineer and software designer Mr. Blaise Aguera y Arcas has reportedly left the software maker to join its rival Google. Mr. Aguera y Arcas has been involved in a variety of development projects at Microsoft including some on augmented reality, wearable computing and natural user interface and was also heading the development of Bing Maps service.
Source : 17-12-13 Hindustantimes.com Compiled by Amresh Anjan
Worst over for job market? HR experts expect double-digit hikes in 2014
After mostly disappointing trends in 2013, the job market is looking at promising prospects in the New Year and experts believe that the worst may be over on the hiring front and employees can even look forward to double-digit salary hike of at least 10-12 percent in 2014. Notwithstanding the continuing impact of the global macro-economic situation and the concerns surrounding India, be it elections or economic slowdown, most of the experts and HR consultancy firms are unanimous that recruitment outlook for the country in 2014 looks bullish. The sectors that are likely to drive the job market include IT, healthcare, education and the development sector; moreover the new retail banking licences are also expected to give a decent hiring trend in year 2014. "Overall looks like the worst is over for the job market and we are entering a zone of atleast another 2-3 years of positive growth" Naukri.com Business Head Mr. V Suresh said. Echoing similar sentiments, TeamLease Services Senior Vice President and Co-Founder Ms. Sangeeta Lala said "in 2013, hiring went slow across mid and senior levels; recruitments were done only to replace 'key' gaps. However, 2014 seems promising and many are forecasting elections to bring us out of this grey guessing phase.
Source : 16-12-13 Firstpost.com Compiled by Amresh Anjan
Placements at top engineering colleges pick up steam
Hiring from top-notch engineering campuses appears to have seen a revival in the current year, with some of India's top institutes seeing big companies, especially from the technology space, swooping down on campuses, offering high pay packets. This year, a host of multinational companies, including Microsoft, Samsung, Google, Facebook, Intel, Nomura and Citicorp, have been active on Indian campuses, along with home-bred firms such as Flipkart. IIT-Bombay has seen a 10-15 per cent hike over last year in the average salary being offered to students on the first day of campus placements. The institute, like its peers in the country, keeps the name of the students picked up by companies under wraps. At IIT-Kanpur, students accepted around 125 offers from 20 companies. At IIT-Bombay, the offers came in from a mix of IT and engineering companies like Google, Microsoft and IBM.
Online marriage business may touch Rs.1, 500 crore by 2017: Assocham
The online matrimonial industry threatens the traditional business and is eating into the market share of newspaper matrimonial classifieds. India's online matrimony biz will acquire a market size of Rs.1, 500 crore by 2017 from Rs.520 crore at present, says ASSOCHAM latest assessment. A study undertaken by the Associated Chamber of Commerce and Industry of India (ASSOCHAM) says online matrimony is estimated to grow at a compound annual growth rate (CAGR) of over 65 per cent in the next two years. The main reasons for demand for online matrimony are convenience, time-saving and efficiency, says the survey. In the last fiscal, about 50-55 million online subscribers registered their profiles and 2.5 million uploaded their profiles per month to take advantage of this facility mainly on account of it being economical and less cumbersome. The figures by ASSOCHAM on "Rising trends and popularity of online jobs and matrimonial alliances" reveal that jobs and matri-alliance through the internet has more takers now. This is evident from the fact that between 2011-12 and 2012-13, business transacted through online advertisements for jobs and matrimonial alliances registered a growth of 56 per cent and 52 per cent, respectively.
Return from sabbatical or quit: Air India to employees
Five years after it had announced a sabbatical scheme for its staff to reduce the bulging salary bill, national air carrier Air India has asked the employees who had opted for the scheme to either return to work or quit, say sources. The scheme allowed them to take a minimum of two years and a maximum of five years off the job with the airline. "The airline recently issued a circular to its employees on sabbatical, asking them to join back duty or put in their papers as they have completed the sabbatical period," Air India sources told PTI. The salary bill of the airline is around Rs 3,000 crore per annum, accounting for around 20 percent of the operational expenses of the debt-laden airline. Employees have been given time till December end to inform the carrier of their choice, they added.
Source : 08-12-13 Firstpost.com Compiled by Amresh Anjan
IITs Excel in QS BRICS University Rankings; Bag 5 Slots In Top 20
India has as many as 16 entries in "QS University Rankings: BRICS", which is the world's first dedicated rankings for universities in the BRICS (Brazil, Russia, India, China and South Africa) group of nations. The good news doesn't end there. Five IITs have made it to the top 20. IIT-Delhi emerged as the highest ranked Indian institute in the list. It is slotted at 13th position. IIT-Delhi is closely followed by IIT-Mumbai, IIT-Madras, IIT-Kanpur and IIT-Kharagpur. These institutions are placed at 15th, 16th, 17th and 18th slots respectively.
False sexual harassment report can cost women job.
Women making false complaints of sexual harassment at the workplace stand to lose their jobs, a new rule has stipulated, putting in a safeguard against potential misuse of the law. The rule, notified this week, for sexual harassment at workplace law becomes applicable from 16th Dec. It has also brought in gender neutrality into the law, as men held guilty of sexual harassment at the workplace also face losing their jobs. The punishment in earlier laws governing workplace sexual harassment was a grey area. Under the new rule, if a complaints committee constituted by an employer finds the allegation of sexual harassment to be malicious or based on forged papers, it can recommend action including termination of service against the complainant. The complaints committee, however, can recommend such action against the complainant only if it malicious intent is proven.
Source : 13-12-13 Hindustantimes.com Compiled by Amresh Anjan
Social media yet to become preferred mode of hiring: survey
Contrary to popular belief, employers in India are yet to use social media as a mode of hiring while job portals have retained the top mode of hiring during the current year according to a recent survey. The study conducted by HR consultants, Career Builder and People Matters, also suggests that hiring across various sectors are expected to rise significantly with a number of jobs expected to be created in the banking and financial services industry and the insurance sector. "New Jobs were not created in the past 4-6 quarters and there is more hunger to grow rapidly in India now. The outlook is very positive and a number of jobs will be created in the banking sector after new licences are issued. The survey further noted that Indian organisations still rely very less on social communities as less than 20 per cent of organisations rely heavily on social media hiring. The survey further noted that print media has lost its popularity as a preferred hiring channel as most recruiters do not use print media to advertise jobs.
Source : 10-12-13 Business-standard.com Compiled by Amresh Anjan
Married daughters too entitled for job on father's death: High Court
In an important judgement, the Bombay High Court has ruled that a married daughter is equally entitled to a government job on compassionate grounds on father's demise. Giving job to unmarried daughters of government servants but denying the same benefit to married daughters violates the right to equality, equality of opportunity in matters of public employment and right to life which are enshrined in the Constitution, the court said.
Source : 07-12-13 Firstpost.com Compiled by Amresh Anjan
Campus drive will be slower this year: Experts
Campus recruitment by the IT companies is expected to be slower in 2013-14 compared to earlier years and many of the engineering colleges in the Seemandhra region are feeling the pinch. While the uncertain political climate is said to be one of the reasons, change in the pattern of recruitment and the global economic slowdown are the other vital grounds. Quoting NASSCOM statistics, NRI group of colleges Placement Officer Mr. Surendra Babu said that the IT industry is likely to recruit about 1.5 lakh this year, about 17 per cent lower compared to last year. According to him the shift in the recruiting pattern from 'Time and Material' to 'Just-in-time' model has affected the process. "Earlier, the students were picked up by the IT companies on 'billing per person – per hour' basis, in anticipation of projects. The students were placed on the bench and the bench strength was showcased to acquire projects. Recession has given rise to the 'Just-in-time' model in which students are recruited based on the projects on hand," he added.
Source : 18-12-13 Thehindu.com Compiled by Amresh Anjan
Pharma major GlaxoSmithKline to make Rs 6,400-crore open offer to hike stake in Indian arm
Bullish on the long-term opportunity that India holds, British drug-maker GlaxoSmithKline Plc is set to fork out up to Rs 6,400 crore to increase its stake in its publicly-listed pharmaceutical subsidiary. In an announcement before market hours, GSK said it would increase its stake in GlaxoSmithKline Pharmaceuticals Ltd from 50.7 per cent to 75 per cent, at a price of Rs 3,100 a share. The move comes within a year of GSK upping its stake in its consumer healthcare arm from 43 per cent to 73 per cent, a Rs 4,800- crore transaction. About a month ago, GSK committed to investing Rs 864 crore in a new factory in India, creating 250 jobs.
Source : 16-12-13 Thehindubusinessline.com Compiled by Amresh Anjan