HR Buzz – May 1, 2012

CII study: Business confidence up slightly
Financial Express
Business confidence of Indian corporates has improved slightly due to expectations of increase in investment and better capacity utilization, as per a study by the Confederation of Indian Industries (CII), Financial Express reports. Around 42 percent of 200 respondents said the economy would grow by 7 to 7.5 percent during 2012-13. Approximately 29 percent anticipated a fall in inflation to below 7 percent this financial year, the study said. According to the study, around 58.7 percent expect capacity utilisation to be higher than 75 percent in the first three months of 2012-13. However, the study added that while the business confidence index has increased for the last two quarters it is still well below previous year's levels. As against 62.5 in the first quarter of 2011-12, the index was at 55 in April-June, 2012, the study stated.

Click here for the story from Financial Express.

Yahoo! lays off 150 workers in Bangalore
The Hindu Business Line
Yahoo! has laid off about 150 employees in Bangalore, The Hindu Business Line reports. Majority of those made redundant worked in search engine optimisation, marketing and products divisions. The staff was informed a few days ago. The digital media company is phasing out 2,000 jobs globally. As India is the most happening place for the company it is restricting the number of lay offs here, according to a Yahoo! representative. The company expects to save about $375 million per year upon completion of the process internationally. The severance costs are estimated at about $125 million. Yahoo! operates a large research and development facility in India. In the face of severe competition from rivals Google and Facebook, it has decided to down size to create a bold, new firm.

Click here for the story from The Hindu Business Line.

Consumer engagement via social media
Financial Chronicle
Social media is increasingly being used by companies to connect better with consumers, Financial Chronicle reports. Today, each individual is an information power-house, generating reams of information. Each bit of data that we post on the net reflects our likes, dislikes and beliefs, which can be a goldmine for marketers. Using this information, marketers can create messages that resonate with their targeted demographic segment and for this reason tend to be remembered. Industry trends indicate increasing use of personal data for targeted advertising. For example, Facebook's APIs allow developers to write code that garners a variety of data from visitors to the page. Basic information about them and their actions on the product page can be stored. With the help of this data and data analytics tools, consumer goods companies can now modify their websites to hook more users to the brand.

Click here for the story from Financial Chronicle.

Outsourcing HR functions on the rise
The Hindu Business Line
Outsourcing has hit the HR department now. Not stopping at the recruitment function, companies are now outsourcing HR software development, training, payroll, employee benefits and consulting to HR services companies, The Hindu Business Line reports. Even appraisal services are being provided by these companies.

Companies can save 30 to 40 percent of cost by outsourcing payroll and appraisal work, apart from making the process more efficient, says Prof Husam, CEO of HR services provider, Team Lead, a firm that has seen over 100 percent annual growth.

Apart from payroll, employee data entry, appraisal management, training, application filing and other services are also being outsourced, according to Pankaj Bansal, CEO of PeopleStrong. Launched in 2005, PeopleStrong is a HR services firm which has grown at about 110 percent annually since inception.

Click here for the story from The Hindu Business Line.

Knowledge economy goading HR to evolve
Financial Express
The traditional HR function of people management has now become an administrative function and is no longer sufficient in today's competitive business environment, as per a report in Financial Express. In a knowledge and service based economy, employee engagement provides the competitive edge. This is pushing HR to evolve further – into employee experience. More and more companies are realising the value of the talent that employees bring to the organisation. What should be the HR department's responsibilities? HR should become the marketing department for internal clients and be responsible for activities that create value for existing and future employees. HR practitioners need to become a team that builds and implements strategic initiatives and cultivates talent through career development, thus driving business growth.

Click here for the story from Financial Express.

Dealing with the annoying co-worker
Co-workers are people who come in all shapes and temperaments. A report in Mint tells us how to deal with the annoying ones. First, judge the level of annoyance. If your co-worker's habit interferes with the performance of your job, you may need to raise the issue with a supervisor. At the same time, you should also examine whether your own workplace behaviour is offensive to others. Complaining to a supervisor should be the last option. You should first try other methods to solve the problem. A short break may help clear your head and calm your nerves. Other alternatives are a brisk walk or "vent session" with a close friend. If these methods do not work and your job is still suffering address your co-worker directly but respectfully. Discuss the problem with him and work out a mutually acceptable solution.

Click here for the story from Mint.

Advice on 'parting shots' when quitting
Business Standard
When you exit the company in protest, how do you make it a dignified, well crafted gesture? A report in Business Standard offers advice on making a graceful 'parting shot'. Before writing such a letter you should consider whether you want to be a part of the problem or part of a solution. Examine the alternative channels you can use to air your concern instead of penning the 'parting shot'. These include approaching the management, an ombudsman, a meeting with the CEO or a private letter to the board of directors. Also, consider the problem you are trying to solve. Is the missive more than a self-indulgent venting of grievances? If yes, are you prepared to follow through on your suggestions by shaping a vision and strategy and taking positive action? The 'parting shot' should focus on the real business problem and avoid being egoistic.

Click here for the story from Business Standard.

Murugappa strives for cross functional expertise
The Hindu Business Line
The Murugappa Group has initiated a bold talent development program to groom managers for lead roles, The Hindu Business Line reports. The group's corporate board studied the talent pool of senior management in the group. An important learning was that CEOs and business heads had undergone key functional changes in their career paths, which paved their way to the top. The company saw the usefulness of this in terms of the knowledge and experience gathered and decided to institutionalise it as a process for all employees. Consequently, the firm has mandated that from July, 2013, executives would be eligible to move to the next grade only if they had handled an additional function. This job rotation is best done at mid-management level so that the executive brings with him the experience gathered in the prior role but is still open enough to learn in the new role.

Click here for the story from The Hindu Business Line.

Financial planning for when lay-offs come knocking
The Hindu Business Line
With uncertainty becoming more of a constant in the job market, the risks of being laid off are very real. A report in The Hindu Business Line gives tips on how to manage your finances until you get a new job. Keep an emergency fund in short-term bank deposits/debt funds or liquid funds, which you can easily access. The size of this emergency kitty should be based on your family's average monthly expenditure plus some more for unforeseen outgoings. Pare expenses by using public transport instead of your own car and cut down on eating out. Additionally, get your own health insurance as the medical cover provided by the company ends with termination of employment. For expenses such as monthly instalment for repayment of home loan, consider approaching the lender to extend the tenure of the debt.

Click here for the story from The Hindu Business Line.

People Moves & Recruitments

Lintas Initiative Media names EVP-Head South
Lintas Initiative Media has appointed Subhas Warrier as executive vice president- head south, exchange4media reports. He will report to COO Raghav Subramanian.

Click here for the story from exchange4media.

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