Archive

Archive for December, 2009

Good times are back, Intel offers bonus

December 18th, 2009

BANGALORE: In a clear sign that the economy is turning around, companies have started dishing out one-off bonuses to their employees. As business is improving, employee retention has become a top priority for global companies. Taking the lead is chipmaker Intel — for its 90,000 employees worldwide, the traditional Happy Holidays greetings is taking on a whole new meaning.

Intel is giving a Special Thank You bonus that’s either $1,000 or $500 depending on the country where they employee is based. Employees in India will get $500 (about Rs 23,000), just like those in China , Malaysia, Russia, etc. Employees in the US, Australia, France, Germany, Canada, etc. will be richer by $1,000 (Rs 47,000). The bonus is said to be uniform across all grades within a country and will be paid out between December 18 and December 31. The bonus is said to be a mark of appreciation for outstanding work in 2009.

Intel employees in India got an email on Thursday morning about it. This bonus is in addition to the annual ‘employee bonus’ given in January and the ‘employee cash bonus’ given in August. According to an employee who didn’t want to be named, “This has come as a pleasant surprise because this year the annual hikes were not given and there were no promotions either.”

Siddharth A Pai, MD, TPI Advisory Services, said it was not surprising that companies had started to give variable pays and bonuses. “Basically , it’s a recognition of the fact that the market has begun to turn around. It also indicates there’s a significant number of deals in the pipeline waiting to materialize . Hence, companies Read more…

Jobs Editor CMDN Hot Jobs, CMDNHotJobs.com, Career , , , , , , , , , ,

Shell transferring thousands of jobs to India, Philippines

December 17th, 2009

HOUSTON: In order to reduce costs, global oil major Royal Dutch Shell will soon transfer additional office jobs from Houston and elsewhere to India
and the Philippines. Shell has also announced that it would slash 5,000 jobs by year-end , including hundreds in Houston as part of a sweeping reorganisation new CEO Peter Voser said is needed to make the company more competitive.
According to internal Shell documents, the European oil giant has been transferring additional office jobs from Houston and elsewhere to India and the Philippines to reduce costs. The migration programmes affect employees in finance and other support functions, which are being consolidated in shared service centres in low-cost countries to fit the new company structure.

It’s unclear how many of Shell’s 13,000 employees in Houston will be affected by the migration plans. Partly, that’s because company officials are still deciding which jobs will stay or go abroad, and are rolling out the plans in phases that run into next year. But at least a few divisions in Houston are preparing to be downsized dramatically.

Major oil companies including Shell, ConocoPhillips and BP have been cutting jobs, capital spending budgets and other costs in response to the global economic downturn that has sapped demand for petroleum products like gasoline and diesel fuel. But Shell’s migration programmes could have broader implications for Houston .

Shell, which is based in The Hague, with US headquarters in Houston, has been involved in a major downsizing since Voser replaced Jeroen van der Veer as CEO in July. By year end, the company plans to cut 5,000 employees, or 10% of its global workforce, under a reorganisation he calls Transition 2009.

The process which merged the company’s three upstream businesses into two, expanded its downstream group and added a new projects and technology division trimmed management ranks by 20% and has forced 15,000 Shell employees to reapply for a smaller Read more…

Jobs Editor CMDN Hot Jobs, CMDNHotJobs.com, Career , , , , , , , , ,

Day 7: IIT placements jump 100% over last year

December 9th, 2009

NEW DELHI/KOLKATA: For campus recruitment at the premier engineering institutes, the IITs, the news is getting better by the day. By the end of seventh day across seven campuses, on an average 200 students were placed, an increase of around 100 per cent compared to same time last year.

If IIT-Bombay has placed 250 students(that’s one-and-half times more than last year), IIT-Kanpur has placed 200 students in 30 companies, IIT-Roorkee’s 150 students got job offers this season compared to just 70 students in 2008 while IIT-Madras has placed 170 students compared to 130 in the corresponding period last year.

The major recruiters from these campuses were Deloitte Touche Tohmatsu which recruited an average of 20 students from across the different IITs, Oracle and Credit Suisse, 15 and 13 students respectively and Indian Oil Corporation signed on around 10 students.

Till now highest payer has been Tower Research Capital which recruited nine students and has paid a CTC of Rs 22 lakh (this can go up to Rs 43 lakh if performance bonus is added). Schlumberger which has been the highest paymaster till last year (Rs 36 lakh CTC) is yet to come on campus.

At IIT Kharagpur, which has gone into placements with some 1,341 students across undergraduate and post graduate streams, over 200 students have been made job offers so far. Of these, 103 have been bagged by B.Tech and B.Arch students.

“Over 25 per cent of them have been placed so far,” says IIT Kharagpur prof-in-charge training and placements SK Srivastava. In 2008 when the market was going through a slowdown phase, all these institutes were able to place around 70-80 per cent students by the end of the placement process which ran into June this year(2009) despite being among the best technology schools in the country.

“Last year, when companies were cutting down on jobs, despite faring the best amongst other institutes we were able to place one-and-half times less the number of students placed this year till now,” says Prof Ravi Sinha, chairperson, placement, IIT-Bombay.

IIT-Madras has seen 40 companies visiting and a major recruiter has been Credit Suisse. The highest package offered till now at IIT-Madras is Rs 26 lakh and the lowest Rs 7 lakh which is higher than last year’s average package of Rs 5 lakh.

This year a new profile that students are interested in is clean energy and efficient technology and hence companies like NTPC and Modile Thermal are expected to get good response when they visit Read more…

Jobs Editor CMDN Hot Jobs, CMDNHotJobs.com, Career , , , , , , , , , , ,

Back in business: 40% Indian firms plan to hire in Jan-Mar

December 9th, 2009

NEW DELHI: Two in every five Indian companies plan to hire in the first quarter of 2010, a survey revealed, giving yet another indication of the high confidence levels among the country’s corporates after the economy staged a faster-than-expected recovery from the slowdown.

According to a global survey conducted by consulting firm Manpower, India topped the list of countries in intention to recruit for the January-March period next year. The survey showed that Indian companies are more bullish about the future, with the number for January-March period reporting increased intention to hire than the quarter ending December 2009.

The service sector witnessed the biggest jump in hiring intent, with 20 points over the last survey. Bullish hiring intention was also spotted in sectors such as public administration, education, mining and construction. Companies in finance, insurance and wholesale & retail trade also reported strong hiring intent.

The weakest hiring pace was reported by employers in the transportation and utilities sectors, where less than 30 per cent of the employers showed an inclination to hire in the three-month period. However, all the sectors recorded an increase in hiring intent compared with the year ago period.

“As Indian employers continue to express growing confidence, we are witnessing improved opportunities for job seekers across all industry sectors. Employers indicate that hiring in India’s service sector will accelerate at a dynamic pace in the coming months,” said Naresh Malhan, managing director of Manpower India.

The survey, which covered more than 5,100 employers across 30 cities in India, revealed that India’s net employment outlook stood at 39 per cent, the highest in the world. This is an increase of 11 points over the last quarter of 2009.

The net employment outlook is derived by taking the percentage of employers anticipating total employment to increase, minus the percentage expecting to see a decrease in employment at their location in the next quarter. It also takes into Read more…

Jobs Editor CMDN Hot Jobs, CMDNHotJobs.com, Career , , , , , , , ,

How to turn downtime into job offers

December 8th, 2009

If there is one thing that most unemployed job seekers have in abundance, it is time. And yet many of them misuse it.

This is understandable. Someone who has just lost a job may be accustomed to a workplace with its schedules and deadlines, and its expectant bosses and co-workers. If you fail to finish an important assignment, you’ll hear about it.

Compare that with post-layoff life. You can assign yourself tasks, but no one will come after you if you don’t finish them. When you get up in the morning, it can seem as if a long clean carpet of time is ahead of you, but then you may decide to go to the gym, have a leisurely lunch, take a nap, check out “Dr Phil” on TV followed by “Judge Judy,” and then you’re ready to make dinner.

Or you may engage in a whirlwind of sending e-mail messages, Googling, calling and appointment-making, only to realize that very little of it got you closer to finding a job.

“Having no structure is the biggest enemy to being organized and being focused,” said Julie Morgenstern, a productivity consultant in New York and author of “Time Management From the Inside Out.”

Job seekers should create specific work hours and a time map along with minideadlines, she said. Like many other experts, she recommends treating job hunting like a full-time job.

Looking for a job involves so many steps that trying to define and prioritize them can be overwhelming, said Kimberly Bishop, chief executive of a career management and leadership services firm in New York.

“I don’t think that there’s ever a time that the job search process is easy,” Bishop said. Because it is not something people tend to do on a regular basis, few people are truly skilled at it, she said, but “being prepared and having a plan and a process brings confidence.”

To begin, Bishop said, set aside a physical space for job hunting and devote from several days to a week solely on laying the groundwork for your search, she said. Too often, Bishop said, people fling themselves into making appointments and arranging interviews before they even have their resumes updated or know what kind of jobs they should realistically seek.

Prepare resumes, write sample cover letters, assemble your references, and put together samples of your work, she said. Compile an inventory of your skills, accomplishments and honors – Bishop calls this a “success folder” – ready to be shown or recounted during interviews.

“Once the job hunt gets started, it’s so easy to become overwhelmed with just the management and organization of the paperwork,” Bishop said. So create files, either paper or computer ones, to keep track of where you have applied and where you have had interviewed, she said.

You don’t want to have a recruiter or a human resources manager call you and find yourself saying: “Who did you say you were again? You say I applied there?”

After this initial preparation it’s time to get started in earnest. Morgenstern suggests dividing the day into three compartments: preparation and research, meetings, and follow-up.

“Mixing it up” this way can stop you from obsessing about things and from being paralyzed by perfectionism, she said. It is energizing and keeps you balanced, she added.

Bishop echoed this sentiment, saying it is dangerous to spend too much time on any one thing. Some people spend all their time in front of the computer sending unproductive e-mail messages and applying for jobs for which they aren’t qualified, she said (and that wastes the hiring manager’s time, too). Other people spend all day at networking meetings and informational interviews without doing the concrete work that leads to an actual application or an interview, she said.

Of course be flexible (don’t turn down a job interview to do research!), but Morgenstern put forth this sample day of varied activities: From 9 to 11, do background research on companies that you will be applying to or interviewing with. Research unconventional industries that may fit with your skills. Take an online career assessment test. Generate a list of contacts for networking purposes. Look up networking organisations.

Try to schedule a meeting every day, or five meetings a week, Morgenstern said. “These benchmarks keep you from becoming complacent or depressed” and keep you connected with the outside world, she said. Between 11 and 2 or 3, you might meet with a friend or former colleagues or a career counselor Read more…

Jobs Editor CMDN Hot Jobs, CMDNHotJobs.com, Career , , , , , , ,

India Inc will step up hiring next quarter: Survey

December 8th, 2009

NEW DELHI: India Inc is all set to step up hiring in the last quarter this fiscal as employers are more optimistic than their counterparts in other nations, said an industry survey released Tuesday.

“Brisk hiring is anticipated by Indian employers during the upcoming quarter,” said the Manpower Employment Outlook Survey.

“With 38 percent of employers expecting total employment to increase, 2 percent forecasting a decrease and 53 percent predicting no change, the net employment outlook is a robust 36 percent,” it added.

“Once seasonal adjustment is added to the data, the outlook stands at 39 percent.”

The services sector is the most bullish on hiring followed by public administration, education, mining and construction, finance, retail and manufacturing.

“India has been reporting the strongest hiring expectations globally since the third quarter of 2008,” said Naresh Malhan, managing director of Manpower India.

“The good news is that employer hiring expectations across all industry sectors are improving in the first quarter of 2010, and job seekers in key sectors can look forward to the most favourable hiring environment in over a year,” he added.

India’s employment outlook in January-March is better than bigger economies including Australia at 19 percent, Canada at 13 percent, China at 11 percent, and the US at 6 percent.

The survey was conducted in 35 countries and regions including the Americas, Asia Pacific, Europe, the Middle East and Africa among 71,000 employers. Employers in 25 of such territories surveyed Read more…

Jobs Editor CMDN Hot Jobs, CMDNHotJobs.com, Career , , , , , , , ,

Five lakh jobs created in India after stimulus: Report

December 8th, 2009

NEW DELHI: Five lakh jobs were created in India in the third quarter this year after the government announced stimulus packages, an ILO report released today said but warned against early exit from such support measure, saying it could delay recovery of the job market for years.

The report said while five lakh new jobs have been created in some high growth industries, the overall earnings of workers have, however, declined by 1.3 per cent in the second quarter.

“The jobs created are of a contractual and casual nature without security of employment and social protection,” the report titled ‘World of Work Report 2009: The Global Jobs Crisis and Beyond’ said.

Stating that the slowdown in the economy has had an adverse impact on the quality of employment, the report stressed on the need for continued monitory and fiscal support for a sustained recovery process of the employment sector.

“Adverse impact on the quality of employment could further increase informal employment, which currently stands at 93 per cent of the workforce,” the report said.

Although the report finds employment in high carbon intensive industries relatively low in India (15 per cent) compared to other countries, it said measures to increase energy efficiency would prove beneficial for supporting more productive and greener employment opportunities.

The ILO report said the length and scope of the jobs crisis could be reduced if stimulus measures and overall policies were focused on the approach of the ILO’s ‘Global Jobs Pact’ adopted earlier this year to which India along with several other countries were signatories.

The jobs pact presents an integrated portfolio of tried and tested policies that puts employment and social protection at the centre of crisis responses.

The report underlined that “a continuation of fiscal stimulus measures, if well focused on jobs, Read more…

Jobs Editor CMDN Hot Jobs, CMDNHotJobs.com, Career , , , , , , , ,

Thomson Reuters to strengthen presence in Asia

December 8th, 2009

MUMBAI: Thomson Reuters, the world’s largest financial data and news provider, is moving more jobs to India and other Asian nations as the developed
nations are still emerging from the worst recession after the credit crisis, said a senior company executive. “We are moving more international jobs to the region,” Thomas Glocer, CEO of Thomson Reuters said in an interview. “HSBC and Standard Chartered have done much better than the Royal Bank of Scotland and Lloyds, in part, because of their presence in the Asian markets and developing markets,” he added.

Global companies, dependent on the financial services sector such as Thomson Reuters, Bloomberg, and HSBC, are shifting focus to Asia since the western world is not yet loosening its purse strings despite the governments cutting taxes and keeping interest rates at record lows. Asian economies, such as China and India, are poised to grow between 8% and 10% per year year, compared with 2% or even less for most of the developed nations. “We have more people in India than in any other country, except the US,” Mr Glocer said.

The company plans to increase its presence in the legal services business too as the government plans to improve the judicial system which at times takes decades to dispose of cases. “Legal business is building up and we have an important role to play with partners in the development of the Indian judicial system,” he said.

The head of Thomson Reuters’ investment advisory and wealth management business, Eric Frank, is relocating to Hong Kong from New York to run the wealth management business from Asia because “the opportunities are so significant” said Mr Glocer. India has the second biggest operations after the US. The company employs about 13,500 people across the globe.

The priority for the Asian region comes even as the western financial system is grappling with weak banks, although some such as Goldman Sachs and JPMorgan are making record profits in an economy where policy rates are at near zero, while others are not so strong in terms of capital. But even those who are earning, are not spending much. “It is a good period for stronger institutions,” said Mr Glocer. “That doesn’t mean that any of them are going to go on a spending spree. But it does overall help, if the financial system improves,” he added.

Financial information industry experienced a sharp contraction in the US and Europe as companies such as Lehman Brothers folded up and others like Merrill Lynch were bought out by rivals leading to a plunge in demand for data and news.

The overall spend on financial information and analysis globally was flat in 2008 compared to a year earlier as the industry was at $23.01 billion versus $22.99 billion in 2007, according to Burton-Taylor International Consulting, a leading financial news and market data research consultant. While Thomson Reuters’s market share stood at 34%, Bloomberg’s was at 24%. The global economic recovery would be uneven, said Mr Glocer. He pointed out to the theory of Sir Martin Sorrell, CEO of WPP, an advertising agency, who believes that economic recovery in Europe will be L-shaped, in the US it would be U-shaped — low and slow Read more…

Jobs Editor CMDN Hot Jobs, CMDNHotJobs.com, Career , , , , , ,

Tatas lead India Inc in hiring SC/STs

December 7th, 2009

MUMBAI: What social revolutionary Babasaheb Ambedkar and late prime minister Vishwanath Pratap Singh could not see during their lifetime may be quitely getting underway in corporate India with the largest group, the Tatas, leading the way.

The Tatas were the first to bring many material things to India — power, star hotels and steel, to name a few. The $71-billion group with interests from tea-to-telecom is also now probably the first to introduce a hiring policy that emphasises ‘positive discrimination’ for its scores of enterprises located across the country from the seashores to deserts to mountain tops.

“What we have said is if everything is equal in merit and so on, please select somebody from the SC/ST communities. This is positive discrimination towards Dalits while hiring,” says JJ Irani, a director at Tata Sons. “We now have a Tata (recruitment) policy where our group chairman personally made the corrections in his own handwriting when we presented it to him.”

A Tata Sons spokesperson said the policy had been in place for some time, and has been most successful in newer companies which were in the process of building up their workforce.

“Tata group companies have been following a recruitment policy over the past few years where they have been encouraged to step up hiring from disadvantaged sections, particularly the Scheduled Caste and Scheduled Tribe communities, without sacrificing merit — in the spirit of positive discrimination. This policy has seen most traction in Tata companies which are in the process of building or renewing their workforce, including Trent, Tata Business Support Services, Tata Teleservices, Tata Capital, Tata Consulting Engineers, Tata Power and NDPL. In one or more of these companies, there have been significant additions at the entry levels, both at the worker and the officer levels, and some of these companies are also endeavouring to increase numbers at intermediate levels,” the spokesperson said.

Scheduled Castes and Scheduled Tribes are communities which feature in a specific schedule of the Indian Constitution. This makes them eligible for various privileges provided by the state, including reservations in education and government jobs. Scheduled Castes are also widely referred to as Dalits.

Indian corporates, which are ringing in thousands of crores of profits year-after-year, are coming to grips with their obligation to give back to a society where people are deprived of essentials such as food, schools and medical attention.

About three years ago, Prime Minister Manmohan Singh stressed the need for affirmative action, a policy which traces its origin to attempts in the US to increase representation of African-Americans in various spheres of life.

Meira Kumar, the current speaker of the Lok Sabha and the social justice minister in the first UPA government (2004-09), had suggested a number of times that reservation of jobs, as practised in the government, could be considered in the private sector too.

But industrialists of all hues, such as Wipro chairman Azim Premji and Ashok Leyland’s R Seshasayee, said mandatory reservations, without considering merit, would cripple the corporate sector that was just emerging from the clutches of the Licence Raj. Hence, the lobby group, Confederation of Indian Industry (CII), constituted a panel under Irani on Affirmative Action.

“Companies are being encouraged to provide for more executive positions from the SC/ST groups,” according to CII senior director Indrani Kar. “Industry is stepping in to create capabilities through scholarships, coaching programmes and funding entrepreneurs.”

Social discrimination has been a vexing issue. A huge section of society was once termed ‘untouchables’ — whom the father of the nation, Mahatma Gandhi, called “Harijans”, people of god, in an attempt to erase the taboo. Many reformers such as Ambedkar from Maharashtra and EV Ramasamy Naicker, also known as Periyar, from Tamil Nadu, have fought for the rights of these deprived sections of society.

COMPANIES DOING THEIR BIT

The onset of liberalisation after 1991 has meant that most of hiring is now taking place in the private sector, leading to demands from politicians and social activists for affirmative action and even reservation.

“We are making conscious efforts to widen the canvas of people we employ and make certain we are not leaving specific groups of people out,” says Surinder Kapoor MD of Sona Steering, an auto parts maker. “We are not just looking at it from an employability point of view, but from a grassroot level in terms of training and education.”

Some of the experiments in hiring people from specific castes Read more…

Jobs Editor CMDN Hot Jobs, CMDNHotJobs.com, Career , , , , , , , ,

IIT placements get their groove back

December 2nd, 2009

NEW DELHI | KOLKATA: Nine students of IIT Kanpur were offered annual packages of Rs 22 lakh on Day One of the placement season on Tuesday, as multinational and local heavyweights gave a vote of confidence in the ongoing economic recovery and showed their hunger for top-drawer talent.

Royal Dutch/Shell, BCG, Morgan Stanley, Deutsche Bank, Tower Research, ITC, HUL, British Gas were among the big guns to visit the campuses of the premier tech institute in the country on Day One. Tower Research is one of the firms believed to be behind the Rs 22 lakh package in Kanpur. The identities of the other companies is not known.

Incidentally, this figure matched the highest overall package for Kanpur last year, and indicates that companies are not shy of quoting a high number on the first day of the placement season.

Other IITs across the country also saw high participation, but details about individual offers were not available. “We are quite upbeat about the process this year. We already have confirmations from over 160 companies,” said Ravi Sinha, IIT Bombay’s placement chairperson. Day One at IIT Bombay saw 21 companies participating across two slots, the second of which continued till as late as 2 am. The companies included Morgan Stanley, McKinsey & Co, BCG, Shell, Technology, Sony Corporation and Deutsche Bank.

At IIT-K, seven of the total of 90 companies, which confirmed for the process, visited on Day One. Each of these companies are expected to pick up 3-5 students each. At IIT Delhi, which has over 1,000 students to place this year, 150 companies have already confirmed participation, and its Day One placement itself notched up Read more…

Jobs Editor CMDN Hot Jobs, CMDNHotJobs.com, Career , , , , , , , ,