HR Buzz – May 4, 2012

Select sectors added 2.26 lakh jobs in Dec quarter
Financial Express
Overall employment in select sectors increased by an estimated 2.26 lakh in the October-December period, Financial Express reports. IT/BPO saw the maximum increase, adding 1.09 lakh jobs, the 13th Labour Bureau survey found. Employment increased 1.94 lakh in the direct category of workers and 0.32 lakh in the contract category. More than 25 lakh jobs in labour-intensive sectors were added in the country between October 2008 and December 2011. According to the results of the latest Labour Bureau quarterly quick employment survey, overall estimated employment in all selected sectors experienced a net addition of 25.84 lakh during the period, labour and employment minister Mallikarjun Kharge said in Rajya Sabha. The surveys look to estimate the effect of global economic slowdown on employment in India. They cover select labour-intensive and export-oriented sectors such as textiles, metals, gems and jewellery, automobiles, transport, IT/BPO, leather and handloom/powerloom.

Click here for the story from Financial Express.

Manufacturing up in April, constraints persist
Times of India
Manufacturing gained pace in April, riding on growth in new business and export orders, Times of India reports. Price pressures and power shortage, however, continued to exert a strain, an HSBC survey said. The HSBC Purchasing Managers' Index (PMI) stood at 54.9 in April, a slight increase from 54.7 in March. April saw robust client demand, coupled with good quality products, further increasing new business activity for the month. Moreover, the rate of expansion was faster than in March. Growth in new export orders also gathered steam, the survey said. Power cuts stopped firms from increasing production at a faster rate, respondents said. Official data shows growth in the industrial sector still remains poor. The latest data on eight core industries showed growth slowing to 2 percent in March due to poor performance of the natural gas and crude oil sectors.

Click here for the story from Times of India.

Companies cut back on ESOPs in bear market
Economic Times
Employee stock option plans (ESOPs) are losing their lustre in a bearish market, Economic Times reports. Lower stock prices have led to fears among promoters over equity dilution, forcing companies to issue 30 percent fewer stock options in 2011-12, compared to the previous two years. Listed companies earmarked just about nine crore shares for their employees, against 30 crore in 2010-11 and 35 crore in 2009-10, data from Corporate Professionals Capital showed. Rashesh Shah, chairman of Edelweiss Financial Services, said most companies have applied brakes on their ESOP programmes. Employees too have been discouraged by underperformance of equities market over the past two years and are looking for cash incentives. They are failing to appreciate the benefits of getting ESOPs in depressed market conditions, when the probability of profitable conversion at a future date is higher.

Click here for the story from Economic Times.

Realignment spells role change for 90 GM techies
The Hindu Business Line
General Motors (GM) is moving 90 employees at its India Science Lab to its Bangalore-based Technical Centre, The Hindu Business Line reports. The lab carries out mathematical modelling and software work. This is not a lay-off exercise, the company said. According to P Balendran, vice president at GM India, work at the lab is being realigned with the centre, which has 2,000 employees. Employees have the option of picking a position at the centre or leaving. They may be placed in other divisions at the centre, such as design, powertrain development and engineering, apart from a global purchasing office. The move may be part of the realignment and restructuring being carried by GM, enabling it to efficiently managing its global engineering workforce. In the U.S., too, GM may be cutting about 100 positions at its Warren Technical Centre in Michigan.

Click here for the story from The Hindu Business Line.

India, China new job destinations for westerners
Asian Age
India and China hold immense opportunities for professionals from the West, according to Nirmalya Kumar, professor of marketing at London Business School, Asian Age reports. He highlighted the changing trend of westerners looking to the East for work, while traditionally Indians and Chinese eye jobs in the West. Multinational companies are expanding rapidly into new markets, opening up opportunities for westerners. People need to be moved from the West to the East, and it has to be made easier. China and India should be as open to westerners as westerners have been to Indian and Chinese immigrants, he said in Dubai during a presentation on the emergence of growth economies and corporate giants. The Indian government needs to make it easier for Europeans and Americans to get work visas. India was also capable of moving beyond services, Kumar added.

Click here for the story from Asian Age.

Internal talent works best for leadership
Hindustan Times
How should organisations create a leadership pipeline? Two industry experts offer advice on how to create a ready pool of senior talent in a Hindustan Times report. An organisational culture is needed to build leaders, Brian Wilkinson, executive board member and chairman, Randstad India, says in a Hindustan Times report. The best talent is internal. Randstad has a guideline that 80 percent of all vacancies be filled internally, thus presenting global opportunities for its people. The firm's U.K. marketing director is an Indian leader. The aim of every leader should be to create successors and the aim of every successor must be to learn to be an effective leader of tomorrow, says Jeremy Hunter, president, Henkel Group, India. Collaborative decision making and co-leadership are key to helping future leaders understand the company, its vision and its people. They form the primary crew that builds the communication bridge between the leadership and the team at large.

Click here for the story from Hindustan Times.

Euro zone jobless rate at 15-year high
Hindustan Times / Times of India
Unemployment in the euro zone reached 10.9 percent in March, the highest in 15 years, Hindustan Times reports. Economists said the situation would further deteriorate as the impact of the debt crisis ripples across the region. The jobless rate increased by a tenth of a percentage point from February in the 17 euro zone nations, showed a report by Eurostat, the European Union (EU) statistics office. Around 17.4 million people are unemployed and 24.8 million out of work across the 27-nation EU, where unemployment remained at 10.2 percent. There is a likelihood of the rate moving above 11.0 percent in the coming months, perhaps even reaching 11.5 percent. Manufacturing was also at a 34-month low in April, according to a survey of purchasing managers by research firm Markit, adds Times of India. The figures come as France and Greece prepare for elections.

Click here for the story from Hindustan Times.
Click here for the story from Times of India.

Survey highlights desperation to work from home
Financial Express
A poll conducted by online communications provider TeamViewer found that people are ready to give up a lot, from spouses to daily showers, to be able to work from home, Financial Express reports. The findings are based on the responses of 2,630 people above the age of 18. About 12 percent of people polled said they would forgo daily showers in order to telecommute. Five percent said they would divorce their spouse, and 34 percent said they would be willing to give up social media and 30 percent would give up texting. Around 17 percent of the respondents were willing to forgo a hike in order to work from home. And 15 percent were ready to cut their vacation days by half. Around 54 percent of the respondents thought they would be at least as productive working from home as they were from the office.

Click here for the story from Financial Express.

Succession planning a talent development process
Business Standard
Leadership development initiatives are integral to corporate strategy. Four experts share their views in a Business Standard report. Indranil Roy, managing director, leadership and talent consulting, Korn/Ferry International Asia Pacific, says succession planning needs to be viewed as a talent development process. Every company does succession planning in its own way. At the Aditya Birla Group, one never looks at succession just within the same business, but within the overall group, says Santrupt Misra, HR director and CEO of the group's carbon black business. Succession planning is all about a process and a structure. It is what helps the Mahindra Group of Companies prevent transitions from becoming unwieldy, says Rajeev Dubey, president, group HR and after-market. A succession plan should be made well ahead of time to avoid missteps, says Indrajit Mukherjee, professor, strategic management area, XLRI School of Business and Human Resources.

Click here for the story from Business Standard.

People Moves & Recruitments

InMobi appoints India GM
The Hindu Business Line
Mobile advertising network InMobi named Sandeep Deshpande country general manager, India, The Hindu Business Line reports. Vishal Nongbet has been appointed business head of brands.

Click here for the story from The Hindu Business Line.

United Spirits shuffles top management
Times of India
United Spirits named two deputy presidents, Amrit Thomas and Paramjit Singh Gill, Times of India reports. Thomas will look after marketing and Gill will lead sales and operations.
Click here for the story from Times of India.

Yahoo loses India HR Head
Economic Times
Aparna Ballakur, HR head at Yahoo, is leaving the company, Economic Times reports. Ballakur is set to join her unnamed new employer by the end of the month. Before joining Yahoo, she was with Adobe for five years.

Click here for the story from Economic Times.

HR Head of M&M to helm Employers' Federation
The Hindu Business Line
Mahindra & Mahindra (M&M) President Group HR and After-market, and member of the executive board Rajeev Dubey will be the new national president of the Employers' Federation of India (EFI), The Hindu Business Line reports. EFI is among the bodies representing India at the International Labour Organization in Geneva.

Click here for the story from The Hindu Business Line.

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