HR Buzz
Study pegs pay hikes this year at 12%
Financial Express
A survey by TeamLease Services said hiring activity is likely to pick up in the coming months and salaries are expected to rise 12 percent, Financial Express reports. The TeamLease Salary Primer for 2013 said hiring registered an 11 percent growth across industries and functions. Niche and high-skilled profiles such as network architect, SAP developer/consultant and project lead...
S&P retains negative outlook on India
Business Standard / The Hindu Business Line
Standard & Poor’s (S&P) has retained the lowest investment grade for the Indian economy amid worsening public finances and political gridlock, The Hindu Business Line reports. The rating agency warned of a downgrade if India did not hasten its reform process. For this, the Government would need to improve the investment climate, S&P said. However,...
A sizeable number of writings exist today, which bewail the gap between what is taught at schools and colleges versus what is really needed by businesses to be sustainable in a contemporary knowledge-based economy. Senior business leadership often cites workforce talent as a key concern in global competitive environment. As rightly put forward by Santhanam B, MD, Saint-Gobain Glass India, in the May-June 2011 issue of People Matters, The key...
One of the questions that we are asked quite often by HR professionals is “How do we develop and sustain a culture of innovation?” Creativity and innovation have come to be associated with companies like 3M and Google as part of their very DNA, but others still continue to struggle in their search of the Holy Grail of innovation. Clearly, most companies recognize the need for innovation in every aspect of their work, but developing a culture...
Top salary earners get some respite on I-T returns
Business Standard
Salary earners may escape the net of income-tax (I-T) authorities on the lookout for high net worth individuals (HNIs), Business Standard reports. Owners of proprietary business and partners in firms with annual income topping Rs 25 lakh will now have to declare their wealth in a separate disclosure in their I-T return (ITR) forms. They will have to provide details of moveable...
Moody’s sees India growth in 5.5-6.5% range
Business Standard
Rating agency Moody’s Investors Service said India is expected to attain growth levels of 5.5 percent to 6.5 percent in 2013, Business Standard reports. The country is struggling to boost investment and government steps to that end have been “relatively small in scope,” Moody’s said. The one percentage point range in the forecast was aimed at avoiding “spurious” precision and took...
To correct wages, need to curb food inflation
The Hindu Business Line
Average wage levels in India respond less to cyclical variables such as growth, says Ashima Goyal in a Hindu Business Line report. According to Goyal, a professor of economics at Indira Gandhi Institute for Development Research, shift variables such as food price inflation have the most effect on wages. This tends to shift the entire aggregate supply (AS) curve upward. Hence,...
Slowdown hurting young job market entrants most
The Hindu Business Line
Long-term trend in unemployment levels belie the story being told, that global recession has bottomed out and recovery is around the corner, says a report in The Hindu Business Line. The generation that has entered the labour force over the last five years has taken the worst hit. The International Labour Organization had put the global unemployment rate at 6 percent early...
Industrial growth totters at 1% in FY13
Business Standard
Growth in industrial output fell to an all-time low of 1.2 percent in FY13, Business Standard reports. The rate is lower than the 2 percent growth estimated at the beginning of the year. Output across sectors either contracted or halved compared to the previous year. Month-on-month, industrial production contracted 1.6 percent in March. The two major sectors, capital goods and consumer...
ILO: Jobless youth set to hit 73 mn this year
The Hindu Business Line
The International Labour Organization (ILO) said some 73.4 million young people will be out of work in 2013, The Hindu Business Line reports. This is almost as high as the levels prevailing in 2009 when the economic crisis was at its peak. The European Union, West Asia and North Africa will be affected most. In developing countries such as India and China, about 60 percent of...
