Friday, November 17, 2006
Professionals queue up to take CAT
17th November 2006 - Economic Times
Planning to take your employees on an all-expenses paid trip to Bangkok this Sunday? Chances are, you will see little enthusiasm. It’s not that they don’t prefer Bangkok; it’s just that many of your employees may be planning their move out of your company. Nearly 50-60% of 1.91 lakh youngsters who are trying to bell the CAT this year, are working professionals, primarily from the IT field.
If you are a senior executive and have been witness to dwindling attendance by your team in the past few weeks, you would know the reason. Many employees across companies have taken leave, heading to their comfort zones to prepare for what is termed as the ‘toughest competitive exam’ to crack in the world.
As an HR head in a mid-sized IT company in Bangalore says, “We do see a few instances of people taking off in this period. It’s not restricted to CAT but also other executive MBA programmes in India and abroad as well.
” There are two categories of people in the workplace who take up CAT — those who could not get into B-schools right after their college and decided to work for a couple of years before trying again and others who have worked for about 4-5 years and hit the ceiling as far as their profession goes and now want to go in for another qualification to boost their career, says Tarun Hakku, Head — Resource Management Group, Microland.
Managing CAT preparations with regular work hours isn’t cakewalk. Yet, the number of students who have enrolled in coaching classes has gone up. According to KS Bhaskar, director, Ascent Education, about 50-60% of the 1.91 lakh people taking CAT this year are working professionals, mostly from the IT sector.
Mr Bhaskar says a majority of students at his institutes are from the IT sector, primarily in the 1-2 year experience range. About 10% of the working population are from banking, manufacturing and BPO, he adds.
“People who are currently working in various organisations do enroll for coaching classes with us. Infact 25% of the people enrolled with us are currently working, and this has gone up from around 22% last year,” said Gautam Puri, MD of Career Launcher, a CAT training firm.
The fact that IIMs have been increasing focus on people with work experience helps. Nearly 69% of the current IIM Bangalore batch have work experience. “We want the right balance between people with work experience and freshers. People with previous work experience bring in a new perspective to classroom discussions,” comments Asst Professor Sourav Mukherjee, chairman, placement committee, IIM-B.
Planning to take your employees on an all-expenses paid trip to Bangkok this Sunday? Chances are, you will see little enthusiasm. It’s not that they don’t prefer Bangkok; it’s just that many of your employees may be planning their move out of your company. Nearly 50-60% of 1.91 lakh youngsters who are trying to bell the CAT this year, are working professionals, primarily from the IT field.
If you are a senior executive and have been witness to dwindling attendance by your team in the past few weeks, you would know the reason. Many employees across companies have taken leave, heading to their comfort zones to prepare for what is termed as the ‘toughest competitive exam’ to crack in the world.
As an HR head in a mid-sized IT company in Bangalore says, “We do see a few instances of people taking off in this period. It’s not restricted to CAT but also other executive MBA programmes in India and abroad as well.
” There are two categories of people in the workplace who take up CAT — those who could not get into B-schools right after their college and decided to work for a couple of years before trying again and others who have worked for about 4-5 years and hit the ceiling as far as their profession goes and now want to go in for another qualification to boost their career, says Tarun Hakku, Head — Resource Management Group, Microland.
Managing CAT preparations with regular work hours isn’t cakewalk. Yet, the number of students who have enrolled in coaching classes has gone up. According to KS Bhaskar, director, Ascent Education, about 50-60% of the 1.91 lakh people taking CAT this year are working professionals, mostly from the IT sector.
Mr Bhaskar says a majority of students at his institutes are from the IT sector, primarily in the 1-2 year experience range. About 10% of the working population are from banking, manufacturing and BPO, he adds.
“People who are currently working in various organisations do enroll for coaching classes with us. Infact 25% of the people enrolled with us are currently working, and this has gone up from around 22% last year,” said Gautam Puri, MD of Career Launcher, a CAT training firm.
The fact that IIMs have been increasing focus on people with work experience helps. Nearly 69% of the current IIM Bangalore batch have work experience. “We want the right balance between people with work experience and freshers. People with previous work experience bring in a new perspective to classroom discussions,” comments Asst Professor Sourav Mukherjee, chairman, placement committee, IIM-B.
Thursday, November 16, 2006
Talent scarcity pinching global tech majors
16th November 2006 - Business Standard
Riding high on increasing profits, Indian corporations have become more liberal in their dividend payout. Ninety listed entities have proposed to pay interim dividend of Rs 3,125 crore for the financial year 2006-07.
Some of them have already paid dividends. During the comparable period last year, 82 firms had paid interim dividend of Rs 2,235 crore.
As may as 18 companies have paid or proposed interim dividend of over 100 per cent and 17 other entities have proposed between 50 and 99 per cent. Interim payouts by 16 firms are between 25 and 49 per cent, while 31 others have proposed a payout between 10 and 24 per cent.
“We will see more and more companies paying interim dividends, as dividend paid on equity shares is tax-free at the hands of recipients. Both promoters as well as ordinary shareholders of firms benefit from this,” said a corporate analyst.
Interim payouts are lined up from information technology (IT), fast moving consumer goods (FMCG), cement, hotels, capital goods, construction and non-banking finance companies.
For the IT and FMCG companies, it has not been a new phenomenon, as TCS, Infosys Technologies, Satyam Computer, Hindustan Lever and Colgate have been paying interim dividends every year.
TCS has paid two interim dividends of 300 per cent each for the current financial year — one in the first quarter and another in the second quarter. TCS interim payouts for 2006-07 aggregated to Rs 587 crore. This is 34 per cent of its first half net profit of Rs 1,728 crore.
Among other IT companies, Infosys Technologies has proposed interim payout of Rs 5 per share amounting to an outgo of Rs 278 crore.
HCL Technologies has paid two interim dividends of 200 per cent each, for a total payout of Rs 129.66 crore. Satyam Computer has paid Rs 65.47 crore to its shareholders by way of interim dividends.
Hindustan Lever has earmarked an interim payout of Rs 3 per share for the year ending December 31, 2006, amounting to Rs 661.92 crore.
This is 46.47 per cent from its nine-months profit of Rs 1,424 crore. In the FMCG space, the other big dividend payer is Colgate Palmolive (Rs 57.80 crore).
Gujarat Ambuja Cement, which has extended its accounting year by six months, paid two interim dividends aggregating to 125 per cent (Rs 2.50 per share).
Gujarat Ambuja paid Rs 340 crore from net profit of Rs 935 crore for its trailing 12 months ended September 2006. The other major interim payer is Ranbaxy Laboratories (Rs 93.17 crore).
Riding high on increasing profits, Indian corporations have become more liberal in their dividend payout. Ninety listed entities have proposed to pay interim dividend of Rs 3,125 crore for the financial year 2006-07.
Some of them have already paid dividends. During the comparable period last year, 82 firms had paid interim dividend of Rs 2,235 crore.
As may as 18 companies have paid or proposed interim dividend of over 100 per cent and 17 other entities have proposed between 50 and 99 per cent. Interim payouts by 16 firms are between 25 and 49 per cent, while 31 others have proposed a payout between 10 and 24 per cent.
“We will see more and more companies paying interim dividends, as dividend paid on equity shares is tax-free at the hands of recipients. Both promoters as well as ordinary shareholders of firms benefit from this,” said a corporate analyst.
Interim payouts are lined up from information technology (IT), fast moving consumer goods (FMCG), cement, hotels, capital goods, construction and non-banking finance companies.
For the IT and FMCG companies, it has not been a new phenomenon, as TCS, Infosys Technologies, Satyam Computer, Hindustan Lever and Colgate have been paying interim dividends every year.
TCS has paid two interim dividends of 300 per cent each for the current financial year — one in the first quarter and another in the second quarter. TCS interim payouts for 2006-07 aggregated to Rs 587 crore. This is 34 per cent of its first half net profit of Rs 1,728 crore.
Among other IT companies, Infosys Technologies has proposed interim payout of Rs 5 per share amounting to an outgo of Rs 278 crore.
HCL Technologies has paid two interim dividends of 200 per cent each, for a total payout of Rs 129.66 crore. Satyam Computer has paid Rs 65.47 crore to its shareholders by way of interim dividends.
Hindustan Lever has earmarked an interim payout of Rs 3 per share for the year ending December 31, 2006, amounting to Rs 661.92 crore.
This is 46.47 per cent from its nine-months profit of Rs 1,424 crore. In the FMCG space, the other big dividend payer is Colgate Palmolive (Rs 57.80 crore).
Gujarat Ambuja Cement, which has extended its accounting year by six months, paid two interim dividends aggregating to 125 per cent (Rs 2.50 per share).
Gujarat Ambuja paid Rs 340 crore from net profit of Rs 935 crore for its trailing 12 months ended September 2006. The other major interim payer is Ranbaxy Laboratories (Rs 93.17 crore).
Women to power India’s growth
16th November 2006 - Economic Times
In Japan, a basket of stocks focused on the ‘womenomics’ theme has grown by 88% over the past decade compared to the Nikkei which has remained flat.
Women are playing a dominant decision-making role in goods and services. Marketers could do with these findings. More women entering the workforce could add $35 bn to GDP over the next five years, lifting incremental demand by 10% says ‘XX factor: The impact of working women on India’s growth, incomes and consumption’ a research effort of the Future group and Future Capital by Roopa Purushothaman, co-author of the BRIC report and chief economist & strategist in the group.
The finds based on a survey of close to 2,000 women (half of them are working women and the other half non-working) from Sec A and Sec B households on their monthly consumption behaviour has thrown up interesting facts
Women’s employment participation grew 31% in ’05 from 26% in ’00, the first rise seen in decades. The growth in participation between ’00 and ’05 has been more rapid for rural women than for urban women with the former’s participation at 34% vis-à-vis that of urban women at 20%.
Also, the income in working-woman households (WWH) is 19% higher than in non-working households (NWWH). The average household expenditure of a WWH is also 15% higher than a NWWH, reflecting the fact that part of the increase in disposable income goes towards savings and investments.
“In terms of findings, this piece is ahead of the game. There are some amazing findings. It clearly states: More women, more growth. I think marketers look at women at a very superficial level and I feel we need to look at women as a homogenous group, given that their employment participation is on a sharp uptake. The working women’s confidence levels are far greater than the non-working group too. Indians could be 5% richer than otherwise projected by ’15, 12% richer by ’25 on the back of increased levels of female work participation” said Ms Purushothaman.
Consumption gains could be felt most in financial services, domestic help, educational services, retail, fuel and transport and leisure and entertainment. Interestingly, higher-end and internationally branded goods are more prevalent among WWH.
The decision-making role played by women is, however, not very different between the two groups, which supports conventional wisdom that globally, women control roughly 80% of household purchases.
Unlike developed countries like Japan where women between the ages 30-44 years exit the labour force to raise children, Indian women’s participation rates rise steadily until the peak age of 35-39 before gently levelling off. Rural women maintained higher participation rates from age 35 through to age 49. Also, women’s participation peaks 10 years earlier than men who show the strongest work participation in the 45-49 age group.
In many developed countries, women’s participation rates in the key age group of 20-30 range is between 50-80%, while that of India is less than 30%. The universe of working women in the study covers women in business, medical professionals, clerks, managers, self-mployed professionals, supervisors, teachers and professors.
In Japan, a basket of stocks focused on the ‘womenomics’ theme has grown by 88% over the past decade compared to the Nikkei which has remained flat.
Women are playing a dominant decision-making role in goods and services. Marketers could do with these findings. More women entering the workforce could add $35 bn to GDP over the next five years, lifting incremental demand by 10% says ‘XX factor: The impact of working women on India’s growth, incomes and consumption’ a research effort of the Future group and Future Capital by Roopa Purushothaman, co-author of the BRIC report and chief economist & strategist in the group.
The finds based on a survey of close to 2,000 women (half of them are working women and the other half non-working) from Sec A and Sec B households on their monthly consumption behaviour has thrown up interesting facts
Women’s employment participation grew 31% in ’05 from 26% in ’00, the first rise seen in decades. The growth in participation between ’00 and ’05 has been more rapid for rural women than for urban women with the former’s participation at 34% vis-à-vis that of urban women at 20%.
Also, the income in working-woman households (WWH) is 19% higher than in non-working households (NWWH). The average household expenditure of a WWH is also 15% higher than a NWWH, reflecting the fact that part of the increase in disposable income goes towards savings and investments.
“In terms of findings, this piece is ahead of the game. There are some amazing findings. It clearly states: More women, more growth. I think marketers look at women at a very superficial level and I feel we need to look at women as a homogenous group, given that their employment participation is on a sharp uptake. The working women’s confidence levels are far greater than the non-working group too. Indians could be 5% richer than otherwise projected by ’15, 12% richer by ’25 on the back of increased levels of female work participation” said Ms Purushothaman.
Consumption gains could be felt most in financial services, domestic help, educational services, retail, fuel and transport and leisure and entertainment. Interestingly, higher-end and internationally branded goods are more prevalent among WWH.
The decision-making role played by women is, however, not very different between the two groups, which supports conventional wisdom that globally, women control roughly 80% of household purchases.
Unlike developed countries like Japan where women between the ages 30-44 years exit the labour force to raise children, Indian women’s participation rates rise steadily until the peak age of 35-39 before gently levelling off. Rural women maintained higher participation rates from age 35 through to age 49. Also, women’s participation peaks 10 years earlier than men who show the strongest work participation in the 45-49 age group.
In many developed countries, women’s participation rates in the key age group of 20-30 range is between 50-80%, while that of India is less than 30%. The universe of working women in the study covers women in business, medical professionals, clerks, managers, self-mployed professionals, supervisors, teachers and professors.
What to do when boss steals your ideas?
16th November 2006 - Economic Times
It is the hottest idea doing the rounds in your office corridors. The board is deliberating on it. The top boss is quite excited about it. But guess what; that was your brilliant idea but it’s your boss who is being congratulated. He is taking all the credit that you deserved.
That’s a situation many corporate executives are experiencing in their work lives today. Seasoned bosses with their rich experience have traditionally had an edge at workplace over their subordinates, who are relatively younger and not as experienced.
But in a global world where old rules are being challenged and freshness of ideas is getting high attention, relatively younger executives and subordinates increasingly find themselves competing with their bosses. This will always be sensitive issue and requires a great deal of sensitivity and maturity. Here’s our tips to navigate such complex situations.
Simply Ignore:
Simply ignore it if it’s a one-off incident. It just isn’t worth the hassle and complications it might create.
Tactical posturing:
In a meeting when you realise that your boss is taking full credit of your idea, it might help if you expand the idea more (pepper it with statements like, ‘and when I first suggested this to boss’, or ‘I agree with my boss in fact my original idea of ..... was actually not the right one and,’) after he has finished talking. This will at least indirectly suggest where the idea came from.
Smartly spread the word:
Very casually exchange conversations with someone at the same level as your boss and let the person know the kind of efforts you put into a particular project, which later was appreciated by everyone. This will help when the big bosses sit together for deliberations as not just your boss but many others would also know a little bit about you and your work.
Market yourself a little:
Talk about your project and take suggestions form your co-workers and seniors so that they know what you are doing and will realise when someone else takes credit for it.
Direct Dialogue:
This may be one of the last things you would want to do but if you think you have run out of patience with repeated hijacking of ideas from your boss, then it might help to talk to your boss directly and tell him what bothers you and also that its demotivating not to get appreciated for the good work done. Direct confrontation may push him to mend his ways.
Approach Super Boss:
This has to be absolutely the last option for you, as it could backfire. Do not sound complaining, but present enough anecdotal evidence to build your case. As they say, you inherit your bosses and you should quickly learn to either work with your boss, around your boss or walk to the door!
It is the hottest idea doing the rounds in your office corridors. The board is deliberating on it. The top boss is quite excited about it. But guess what; that was your brilliant idea but it’s your boss who is being congratulated. He is taking all the credit that you deserved.
That’s a situation many corporate executives are experiencing in their work lives today. Seasoned bosses with their rich experience have traditionally had an edge at workplace over their subordinates, who are relatively younger and not as experienced.
But in a global world where old rules are being challenged and freshness of ideas is getting high attention, relatively younger executives and subordinates increasingly find themselves competing with their bosses. This will always be sensitive issue and requires a great deal of sensitivity and maturity. Here’s our tips to navigate such complex situations.
Simply Ignore:
Simply ignore it if it’s a one-off incident. It just isn’t worth the hassle and complications it might create.
Tactical posturing:
In a meeting when you realise that your boss is taking full credit of your idea, it might help if you expand the idea more (pepper it with statements like, ‘and when I first suggested this to boss’, or ‘I agree with my boss in fact my original idea of ..... was actually not the right one and,’) after he has finished talking. This will at least indirectly suggest where the idea came from.
Smartly spread the word:
Very casually exchange conversations with someone at the same level as your boss and let the person know the kind of efforts you put into a particular project, which later was appreciated by everyone. This will help when the big bosses sit together for deliberations as not just your boss but many others would also know a little bit about you and your work.
Market yourself a little:
Talk about your project and take suggestions form your co-workers and seniors so that they know what you are doing and will realise when someone else takes credit for it.
Direct Dialogue:
This may be one of the last things you would want to do but if you think you have run out of patience with repeated hijacking of ideas from your boss, then it might help to talk to your boss directly and tell him what bothers you and also that its demotivating not to get appreciated for the good work done. Direct confrontation may push him to mend his ways.
Approach Super Boss:
This has to be absolutely the last option for you, as it could backfire. Do not sound complaining, but present enough anecdotal evidence to build your case. As they say, you inherit your bosses and you should quickly learn to either work with your boss, around your boss or walk to the door!
Catch 'em before they quit
16th November 2006 - Economic Times
Predicting who is going to leave by analysing attributes which make an employee more prone to leave, should find takers in sectors facing high attrition levels. For BPOs, such profiling makes a critical difference.
“We have predictive tools, which can be used at the recruitment stage, to profile a prospective employee. Using this, recruitment would be attributed rather than performance based,” Ramakrishna Reddy Dasari, director, EMEA, Fractal Analyticals, said.
While banks have been the fastest adopters of predictive tools such as these for customer acquisition and cross selling of services, Mr Dasari observed that employee retention could be a bigger business opportunity for the company.
He said that the assessment is based on attributes and judging how long an employee will stay, factoring in differences over issues like freshers over the more experienced. Another impact: salaries could be based on this data analytics.
Mr Dasari said data analytics involves using data from business intelligence and from data mining, processing it further, to come up with a comprehensive report. This report is based on the data collected and studied of consumer behaviour patterns and helps predict the future of their services with target groups of customers.
While banks, especially credit card issuers are the biggest users of such data, Mr Dasari said telecom, insurance, retail and FMCG also offered scope. Each sector has nuanced offerings but sectors like retail and FMCG need authentic third party data on usage patterns, Mr Dasari cautioned.
“There is data paucity in India, and there is also a need to change the mindset in organisations, for these practices to come into the country,” he said.
Mr Dasari cited the example of retailers like WalMart which might want data on known value items, that is, why does the customer prefer Store A over Store B. Such decisions can be made only when there is authentic third party data available on usage patterns.
For banks, it could be customer acquisition over customer retention, so the product is slightly different. However, there are seven to ten parameters where scores are assessed regarding the probability of customer default, in the case of credit cards.
“For banks and credit card issuers, customer acquisition has to be done more efficiently, there is intelligent cross selling and managing churn or retention. In case of telecom companies, churn can be voluntary or involuntary and we can assess the risk and set limits,” he noted.
Predicting who is going to leave by analysing attributes which make an employee more prone to leave, should find takers in sectors facing high attrition levels. For BPOs, such profiling makes a critical difference.
“We have predictive tools, which can be used at the recruitment stage, to profile a prospective employee. Using this, recruitment would be attributed rather than performance based,” Ramakrishna Reddy Dasari, director, EMEA, Fractal Analyticals, said.
While banks have been the fastest adopters of predictive tools such as these for customer acquisition and cross selling of services, Mr Dasari observed that employee retention could be a bigger business opportunity for the company.
He said that the assessment is based on attributes and judging how long an employee will stay, factoring in differences over issues like freshers over the more experienced. Another impact: salaries could be based on this data analytics.
Mr Dasari said data analytics involves using data from business intelligence and from data mining, processing it further, to come up with a comprehensive report. This report is based on the data collected and studied of consumer behaviour patterns and helps predict the future of their services with target groups of customers.
While banks, especially credit card issuers are the biggest users of such data, Mr Dasari said telecom, insurance, retail and FMCG also offered scope. Each sector has nuanced offerings but sectors like retail and FMCG need authentic third party data on usage patterns, Mr Dasari cautioned.
“There is data paucity in India, and there is also a need to change the mindset in organisations, for these practices to come into the country,” he said.
Mr Dasari cited the example of retailers like WalMart which might want data on known value items, that is, why does the customer prefer Store A over Store B. Such decisions can be made only when there is authentic third party data available on usage patterns.
For banks, it could be customer acquisition over customer retention, so the product is slightly different. However, there are seven to ten parameters where scores are assessed regarding the probability of customer default, in the case of credit cards.
“For banks and credit card issuers, customer acquisition has to be done more efficiently, there is intelligent cross selling and managing churn or retention. In case of telecom companies, churn can be voluntary or involuntary and we can assess the risk and set limits,” he noted.
Wednesday, November 15, 2006
We need more flexibility in labour laws: Montek
15th November 2006 - Business Standard
The Planning Commission has favoured more flexibility in labour laws. "We do believe that we need more flexibility in labour laws," said Mr Montek Singh Ahluwalia, Deputy Chairman, Planning Commission. Flexibility would attract greater investment and create more jobs, he added. But he ruled out a hire-and-fire policy being on the Government's agenda.
Skills development
While speaking at the Employment Summit organised by the Confederation of Indian Industry on Monday, he said the Government would launch a skill-development mission during the Eleventh Plan keeping in mind the needs of modern-day manufacturing, services and agriculture. Skills development is critical to the growth of employment. He said "current skills development is inadequate and we need employment-linked degrees. We will scale up the programme to upgrade and modernise the Industrial Training Institutes (ITIs) to improve both their quality and quantity in terms of training and equipment."
The Government is considering expanding the programme to 500 ITIs across India from 100 currently, Mr Ahluwalia said. However, even this is inadequate as there are 7,000 ITIs in India. The private sector has a major role to play in delivering job-related training because private colleges are more flexible in curriculum development than Government institutions.
Organised sector
He said the lack employment growth in the organised sector is the single greatest failing at a time when both GDP and profits were rising. There are structural changes taking place that have generated employment in the non-farm unorganised sector that have to do with outsourcing.
"Outsourcing creates value outside manufacturing, in the service sector." To promote the unorganised sector's growth, the Government will create an enabling environment to encourage employment, he said.
Mr Ahluwalia called upon industry to come up with a reasonable employment growth rate, given that it was predicted to grow by 10 per cent for the next few years.
The Planning Commission has favoured more flexibility in labour laws. "We do believe that we need more flexibility in labour laws," said Mr Montek Singh Ahluwalia, Deputy Chairman, Planning Commission. Flexibility would attract greater investment and create more jobs, he added. But he ruled out a hire-and-fire policy being on the Government's agenda.
Skills development
While speaking at the Employment Summit organised by the Confederation of Indian Industry on Monday, he said the Government would launch a skill-development mission during the Eleventh Plan keeping in mind the needs of modern-day manufacturing, services and agriculture. Skills development is critical to the growth of employment. He said "current skills development is inadequate and we need employment-linked degrees. We will scale up the programme to upgrade and modernise the Industrial Training Institutes (ITIs) to improve both their quality and quantity in terms of training and equipment."
The Government is considering expanding the programme to 500 ITIs across India from 100 currently, Mr Ahluwalia said. However, even this is inadequate as there are 7,000 ITIs in India. The private sector has a major role to play in delivering job-related training because private colleges are more flexible in curriculum development than Government institutions.
Organised sector
He said the lack employment growth in the organised sector is the single greatest failing at a time when both GDP and profits were rising. There are structural changes taking place that have generated employment in the non-farm unorganised sector that have to do with outsourcing.
"Outsourcing creates value outside manufacturing, in the service sector." To promote the unorganised sector's growth, the Government will create an enabling environment to encourage employment, he said.
Mr Ahluwalia called upon industry to come up with a reasonable employment growth rate, given that it was predicted to grow by 10 per cent for the next few years.
CITU floats IT staff union
15th November 2006 - Business Standard
The formal launch of the West Bengal Information Technology Services Association (ITSA) saw a moderate turnout of employees of the IT industry thriving in Salt Lake’s Sector V here.
While those attending were mostly from defunct subsidiaries or wings of West Bengal Electronics Industry Development Corporation (WEBEL), some of the attendees were employees of IT companies who had lost their jobs. Yet others were curious bystanders who had sauntered up to “take a look at the development” after the day's work.
Local leaders of the CPI(M)-promoted Centre of Indian Trade Unions (CITU) promised a better tomorrow for employees of West Bengal’s IT industry, but the enthusiasm level of the attending masses did not seem to be encouraging enough.
Lukewarm applause met CITU leader Shyamal Chakraborty's bid to take up cudgels against employers who did not issue appointment letters to their employees, pay their provident fund (PF) or provide them facilities under the Employees' State Insurance (ESI).
“Units of this association will soon be formed in three IT companies in the city,” he added.
CITU would welcome the employees of bigger multinational companies to join. “We are not happy with the United Progressive Alliance or the earlier National Democratic Alliance governments’ labour policies. The formation of this IT union does not mean we want to hamper the growth of the industry here by promoting strikes. We simply want the welfare of the workers,” re-iterated Chakraborty.
CITU would take ITSA to other IT destinations in the country as there was a need for it.
Chakraborty said he already had five companies under the scanner for terminating employees without notice, all of them home-grown BPO units.
Chakraborty's comrades were concerned about the amount of money the Indian BPOs and IT companies were pocketing, which, according to them, should actually be shared with employees in the form of higher salary.
Employees of larger IT companies said a collective approach to issues like increasing work pressure and insurance was welcome, but an association should ideally be a-political.
White-collar workers would rather keep political intervention out while securing their dues.
The formal launch of the West Bengal Information Technology Services Association (ITSA) saw a moderate turnout of employees of the IT industry thriving in Salt Lake’s Sector V here.
While those attending were mostly from defunct subsidiaries or wings of West Bengal Electronics Industry Development Corporation (WEBEL), some of the attendees were employees of IT companies who had lost their jobs. Yet others were curious bystanders who had sauntered up to “take a look at the development” after the day's work.
Local leaders of the CPI(M)-promoted Centre of Indian Trade Unions (CITU) promised a better tomorrow for employees of West Bengal’s IT industry, but the enthusiasm level of the attending masses did not seem to be encouraging enough.
Lukewarm applause met CITU leader Shyamal Chakraborty's bid to take up cudgels against employers who did not issue appointment letters to their employees, pay their provident fund (PF) or provide them facilities under the Employees' State Insurance (ESI).
“Units of this association will soon be formed in three IT companies in the city,” he added.
CITU would welcome the employees of bigger multinational companies to join. “We are not happy with the United Progressive Alliance or the earlier National Democratic Alliance governments’ labour policies. The formation of this IT union does not mean we want to hamper the growth of the industry here by promoting strikes. We simply want the welfare of the workers,” re-iterated Chakraborty.
CITU would take ITSA to other IT destinations in the country as there was a need for it.
Chakraborty said he already had five companies under the scanner for terminating employees without notice, all of them home-grown BPO units.
Chakraborty's comrades were concerned about the amount of money the Indian BPOs and IT companies were pocketing, which, according to them, should actually be shared with employees in the form of higher salary.
Employees of larger IT companies said a collective approach to issues like increasing work pressure and insurance was welcome, but an association should ideally be a-political.
White-collar workers would rather keep political intervention out while securing their dues.
Employees want forum, but not CITU
15th November 2006 - Business Standard
The IT companies may have discarded the need for formation of a union in the industry, but the employees —even white collar ones — feel that there is room for an apolitical association to voice their grievances.
A quick survey of the employees in Sector V, the IT hub in Kolkata, in the backdrop of the launch of the West Bengal IT Services Association, revealed that a good number of employees feel the need for an association to take up their concerns.
These are employees of some of the biggest names in the industry operating in verticals like software consultancy and project implementation.
An IT professional said that many a times employees could not take the excessive work pressure imposed on them and this required to be addressed.
Some of the basic issues facing the industry are extended working hours, improper appraisal system and refusal to grant leave. Such cases are higher in smaller companies, but at times mid-sized and larger companies are also to blame.
Another IT professional complained against disparate salaries between onsite and offshore project members. “Onsite members get paid 10 to 20 times more than their offshore counterparts even though the load distribution may not be very different,” he said.
The grievances appear more strident among business process outsourcing (BPO) employees, but not every employee feels the need for an association.
Some of the employees said that their human resource (HR) departments were good sounding boards for them. “We have an open and transparent system, where our problems are taken care of,” said some employees.
However, apolitical association apart, all the employees quizzed said that a union under the aegis of CITU was not welcome in the industry.
It appears that next time Chief Minister Buddhadeb Bhattacharjee faces the employees, he may have to field some uncomfortable questions. “We voted the government back to power because they were doing good work, but this was not expected,” said a woman employee in Sector V.
The IT companies may have discarded the need for formation of a union in the industry, but the employees —even white collar ones — feel that there is room for an apolitical association to voice their grievances.
A quick survey of the employees in Sector V, the IT hub in Kolkata, in the backdrop of the launch of the West Bengal IT Services Association, revealed that a good number of employees feel the need for an association to take up their concerns.
These are employees of some of the biggest names in the industry operating in verticals like software consultancy and project implementation.
An IT professional said that many a times employees could not take the excessive work pressure imposed on them and this required to be addressed.
Some of the basic issues facing the industry are extended working hours, improper appraisal system and refusal to grant leave. Such cases are higher in smaller companies, but at times mid-sized and larger companies are also to blame.
Another IT professional complained against disparate salaries between onsite and offshore project members. “Onsite members get paid 10 to 20 times more than their offshore counterparts even though the load distribution may not be very different,” he said.
The grievances appear more strident among business process outsourcing (BPO) employees, but not every employee feels the need for an association.
Some of the employees said that their human resource (HR) departments were good sounding boards for them. “We have an open and transparent system, where our problems are taken care of,” said some employees.
However, apolitical association apart, all the employees quizzed said that a union under the aegis of CITU was not welcome in the industry.
It appears that next time Chief Minister Buddhadeb Bhattacharjee faces the employees, he may have to field some uncomfortable questions. “We voted the government back to power because they were doing good work, but this was not expected,” said a woman employee in Sector V.
Tuesday, November 14, 2006
Hair-raising BPO stats
13th November 2006 -Times of India
New Delhi: A disturbing trend seems to be rising from India’s sunshine sector of BPOs — one that might make the hairs on the necks of prospective workers stand up. A survey of clients visiting a homeopathy clinic in Bangalore has shown that 27% of those seeking help for their receding hairline worked for BPOs.
It was the highest chunk, and is particularly worrying as mostly youngsters are kno-wn to flock to call centres. “Hair disorder primarily stems from stress. The higher rate of lifestyle change, less sleep, unhealthy food and odd working schedules of employees in BPOs lead to increased stress which in turn leads to hair loss,’’ said Mukesh Batra, CMD of Dr Batra’s Positive Health Clinic.
New Delhi: A disturbing trend seems to be rising from India’s sunshine sector of BPOs — one that might make the hairs on the necks of prospective workers stand up. A survey of clients visiting a homeopathy clinic in Bangalore has shown that 27% of those seeking help for their receding hairline worked for BPOs.
It was the highest chunk, and is particularly worrying as mostly youngsters are kno-wn to flock to call centres. “Hair disorder primarily stems from stress. The higher rate of lifestyle change, less sleep, unhealthy food and odd working schedules of employees in BPOs lead to increased stress which in turn leads to hair loss,’’ said Mukesh Batra, CMD of Dr Batra’s Positive Health Clinic.
HR execs fret the ‘I’ factor
13 November 2006 - Times of India
Bangalore: A senior executive in an engineering technology company in Bangalore says he struggled to stifle a laugh the other day when a young potential recruit sitting across the interview table asked if the company would offer him a club membership.
But many are now learning not to laugh at such outrageous demands from such young candidates. For, far too many of them are beginning to make such demands. And with talent becoming scarce, you can’t afford to lose people.
HR experts call it the ‘I’ factor, a trait that’s becoming increasingly visible among new generation professionals. And it’s making mid-and senior-level hiring a challenging proposition.
Over 40% of IT professionals in the 6-to-13 years’ experience category are seen to have a high ‘I’ factor. On an average, the ‘I’ factor accounts for up to 60% of overall attrition in the segment.
In fact, respecting the ‘I’ factor has a direct impact on the retention of employees in this category, says a recent study by Vati Consulting, a Bangalore-based resource process outsourcing firm. In the last six months, the firm interviewed 500 middle and senior management candidates for 12 different tier-1 IT firms. “Unlike in the past, today’s candidates carry a loud ‘I’ factor,’’ says Amitabh Das, CEO, Vati Consulting.
According to the study, senior IT professionals now walk into interviews with a bundle of ‘I’ questions centred around “what’s-in-it-for-me?’’.
It could be remuneration, promotions, career growth, career map, periodic pay hikes, rewards for achievements/targets/goals, opportunities for constant skill and knowledge upgradation, higher studies, overseas assignments, key role in business acquisition, challenging projects, larger roles and responsibilities, insurance cover, flexi-work timing, flexi-pay package and work-life balance.
Bangalore: A senior executive in an engineering technology company in Bangalore says he struggled to stifle a laugh the other day when a young potential recruit sitting across the interview table asked if the company would offer him a club membership.
But many are now learning not to laugh at such outrageous demands from such young candidates. For, far too many of them are beginning to make such demands. And with talent becoming scarce, you can’t afford to lose people.
HR experts call it the ‘I’ factor, a trait that’s becoming increasingly visible among new generation professionals. And it’s making mid-and senior-level hiring a challenging proposition.
Over 40% of IT professionals in the 6-to-13 years’ experience category are seen to have a high ‘I’ factor. On an average, the ‘I’ factor accounts for up to 60% of overall attrition in the segment.
In fact, respecting the ‘I’ factor has a direct impact on the retention of employees in this category, says a recent study by Vati Consulting, a Bangalore-based resource process outsourcing firm. In the last six months, the firm interviewed 500 middle and senior management candidates for 12 different tier-1 IT firms. “Unlike in the past, today’s candidates carry a loud ‘I’ factor,’’ says Amitabh Das, CEO, Vati Consulting.
According to the study, senior IT professionals now walk into interviews with a bundle of ‘I’ questions centred around “what’s-in-it-for-me?’’.
It could be remuneration, promotions, career growth, career map, periodic pay hikes, rewards for achievements/targets/goals, opportunities for constant skill and knowledge upgradation, higher studies, overseas assignments, key role in business acquisition, challenging projects, larger roles and responsibilities, insurance cover, flexi-work timing, flexi-pay package and work-life balance.
Taking care of your employees
14th November 2006 - Economic Times
Now this is more for your boss than you! Still, read on, as the ever-booming economy may someday help even you to establish a business and employ people yourself. And when you do that, you will soon realise that good, talented and skilled people are really rare. Ask any HR Department. Not only do they have to recruit and train people, but they have to also retain people within an organisation.
In the end, all realise that it is not the brand nor even the salaries alone that can retain people - rather, it’s the human touch the organisation gives.For this, Chanakya suggests that the management needs to be totally aware of what the employees think - if they don’t , then are playing with danger. “Not being rooted among the subjects, he becomes easy to uproot”.Here are a few steps to do this:
Take time for your employees
It is important to spend time with all your subordinates, separately. There is just no substitute for this. Set aside half an hour every day for this purpose. This will help you to understand the way each employee thinks and can help resolve problems at the initial stage itself.
Get out of your cabin
Do not sit in your cabin and give orders over the phone. Now and then, get out of your cabin and walk to the employees’ desk or work stations. There are many benefits in doing that: One, there will be surprise checks. Secondly, you will directly come to know what is happening in the office.
Plan an outing
Let’s face it: There are limits in an office. An outing with your team, a celebration of events at a different place, a party or a picnic - all will not only reduce stress levels but also help in emotionally relating to each other. Many talents get discovered in informal celebrations and gatherings.
Keep a record
Now this is the most important part. Maintain a different file for each employee with the help of the HR Department. More importantly, the management should have a look at it from time to time and make effective use of the employees looking at their inherent strengths.
Now this is the most important part. Maintain a different file for each employee with the help of the HR Department. More importantly, the management should have a look at it from time to time and make effective use of the employees looking at their inherent strengths.
Now this is more for your boss than you! Still, read on, as the ever-booming economy may someday help even you to establish a business and employ people yourself. And when you do that, you will soon realise that good, talented and skilled people are really rare. Ask any HR Department. Not only do they have to recruit and train people, but they have to also retain people within an organisation.
In the end, all realise that it is not the brand nor even the salaries alone that can retain people - rather, it’s the human touch the organisation gives.For this, Chanakya suggests that the management needs to be totally aware of what the employees think - if they don’t , then are playing with danger. “Not being rooted among the subjects, he becomes easy to uproot”.Here are a few steps to do this:
Take time for your employees
It is important to spend time with all your subordinates, separately. There is just no substitute for this. Set aside half an hour every day for this purpose. This will help you to understand the way each employee thinks and can help resolve problems at the initial stage itself.
Get out of your cabin
Do not sit in your cabin and give orders over the phone. Now and then, get out of your cabin and walk to the employees’ desk or work stations. There are many benefits in doing that: One, there will be surprise checks. Secondly, you will directly come to know what is happening in the office.
Plan an outing
Let’s face it: There are limits in an office. An outing with your team, a celebration of events at a different place, a party or a picnic - all will not only reduce stress levels but also help in emotionally relating to each other. Many talents get discovered in informal celebrations and gatherings.
Keep a record
Now this is the most important part. Maintain a different file for each employee with the help of the HR Department. More importantly, the management should have a look at it from time to time and make effective use of the employees looking at their inherent strengths.
Now this is the most important part. Maintain a different file for each employee with the help of the HR Department. More importantly, the management should have a look at it from time to time and make effective use of the employees looking at their inherent strengths.
Monday, November 13, 2006
Wage revision panel for PSUs likely soon
13th November 2006 - Business Standard
The committee for revising the salaries and other perks of executives of central public sector undertakings is likely to be announced early this week.
“The announcement of the committee to revise the pay scales of public sector employees will be made sometime this week,” official sources said.
The department of public enterprises has cleared the proposal to set up the committee. The proposal has been sent to the Prime Minister’s Office and its approval was awaited, the sources said.
The government has already appointed Justice Srikrishna Commission to rework the salaries of central government employees.
The revision of pay scales for central PSUs will benefit more than 3.5 lakh employees of these companies.
Pay scales of public sector staff were last upgraded in 1999 on the basis of the Justice S Mohan Committee report. The committee was set up in 1996 and its report came in 1998.
The Cabinet accepted the recommendations of the committee in 1999 but the increases were applicable from January 1997.
As the Mohan Committee’s reward was applicable for 10 years, a new committee was necessitated, sources said.
The committee for revising the salaries and other perks of executives of central public sector undertakings is likely to be announced early this week.
“The announcement of the committee to revise the pay scales of public sector employees will be made sometime this week,” official sources said.
The department of public enterprises has cleared the proposal to set up the committee. The proposal has been sent to the Prime Minister’s Office and its approval was awaited, the sources said.
The government has already appointed Justice Srikrishna Commission to rework the salaries of central government employees.
The revision of pay scales for central PSUs will benefit more than 3.5 lakh employees of these companies.
Pay scales of public sector staff were last upgraded in 1999 on the basis of the Justice S Mohan Committee report. The committee was set up in 1996 and its report came in 1998.
The Cabinet accepted the recommendations of the committee in 1999 but the increases were applicable from January 1997.
As the Mohan Committee’s reward was applicable for 10 years, a new committee was necessitated, sources said.
India Inc`s wage bill climbs 22% in H1
13th November 2006 - Business Standard
Talent squeeze, jobs boom fuel fastest rise.
Corporate India has recorded its highest rise in salaries at 22 per cent in the first half of 2006-07. The increase was 17 per cent in 2005-06 and between 8.35 per cent and 12.6 per cent in the previous three years.
The increase, companies say, is due to a shortage of talent and the recent jobs boom.
Despite the phenomenal growth, salaries and wage costs have not grown in line with the increase in sales and profits of the corporate sector.
While the pre-tax profits of 1,900 listed companies increased 36 per cent in the first half, their salary bill rose by 21.94 per cent. Salaries as a percentage of sales declined from 7.04 per cent in the first half of 2005-06 to 6.66 per cent in first half of 2006-07.
The salary bill for service industries like information technology, telecommunications, media, private banks and airlines rose between 30 and 50 per cent this year, mainly due to big hiring in the last two years.
In contrast, manufacturing industries such as engineering, turnkey construction, electronic equipment, pharmaceuticals and personal care have each reported a 20 per cent rise in their salary bills.
Software services companies, which have increased their employee strength by over 150,000 in the last 18 months have reported a 54 per cent increase in their wage bill in the first half of 2006-07. Private sector banks, which have been driving retail growth, reported a 48 per cent rise in their wage bill.
Salaries at airlines rose 93.22 per cent, with Jet Airways recording a wage bill of Rs 454 crore. The wage cost of the retail sector has risen even higher. This segment has reported a 100 per cent rise in its wage bill in the first half of 2006-07.
Media and entertainment companies are paying fat salaries to their employees with the wage bill of news and entertainment providers shooting up 40.5 per cent.
The print media reported a 26 per cent rise in its wage bill. The other service industries that reported wage bills growing by over 20 per cent are hotels, courier and non banking finance companies.
Public sector banks, which follow an industry-wide wage pact brokered by the Indian Banks’ Association, have recorded a modest 4 per cent increase in their wage bill.
Steel, fertilisers, multinational pharmaceutical companies, fast-moving consumer goods firms, shipping, automobile ancillaries, farm products and many other sectors that are not generating new employment opportunities have posted modest single-digit growth in their wage bill.
Talent squeeze, jobs boom fuel fastest rise.
Corporate India has recorded its highest rise in salaries at 22 per cent in the first half of 2006-07. The increase was 17 per cent in 2005-06 and between 8.35 per cent and 12.6 per cent in the previous three years.
The increase, companies say, is due to a shortage of talent and the recent jobs boom.
Despite the phenomenal growth, salaries and wage costs have not grown in line with the increase in sales and profits of the corporate sector.
While the pre-tax profits of 1,900 listed companies increased 36 per cent in the first half, their salary bill rose by 21.94 per cent. Salaries as a percentage of sales declined from 7.04 per cent in the first half of 2005-06 to 6.66 per cent in first half of 2006-07.
The salary bill for service industries like information technology, telecommunications, media, private banks and airlines rose between 30 and 50 per cent this year, mainly due to big hiring in the last two years.
In contrast, manufacturing industries such as engineering, turnkey construction, electronic equipment, pharmaceuticals and personal care have each reported a 20 per cent rise in their salary bills.
Software services companies, which have increased their employee strength by over 150,000 in the last 18 months have reported a 54 per cent increase in their wage bill in the first half of 2006-07. Private sector banks, which have been driving retail growth, reported a 48 per cent rise in their wage bill.
Salaries at airlines rose 93.22 per cent, with Jet Airways recording a wage bill of Rs 454 crore. The wage cost of the retail sector has risen even higher. This segment has reported a 100 per cent rise in its wage bill in the first half of 2006-07.
Media and entertainment companies are paying fat salaries to their employees with the wage bill of news and entertainment providers shooting up 40.5 per cent.
The print media reported a 26 per cent rise in its wage bill. The other service industries that reported wage bills growing by over 20 per cent are hotels, courier and non banking finance companies.
Public sector banks, which follow an industry-wide wage pact brokered by the Indian Banks’ Association, have recorded a modest 4 per cent increase in their wage bill.
Steel, fertilisers, multinational pharmaceutical companies, fast-moving consumer goods firms, shipping, automobile ancillaries, farm products and many other sectors that are not generating new employment opportunities have posted modest single-digit growth in their wage bill.
BPOs not worried over Democrat win
13th November 2006 - Economic Times
BANGALORE: Two years ago, US Democratic presidential candidate John Kerry created a scare in the Indian IT industry with his anti-outsourcing rhetoric. To the relief of the industry, Kerry lost that election. Now, Democrats have taken control of the US Congress and Senate. Is the industry worried? Not much. The general sentiment in the tech community is that Indo-US business momentum, irrespective of the Americans’ political preferences, will continue.
The outsourcing industry is seen to have evolved and grown since the presidential elections in 2004. “Outsourcing today is a sector of higher visibility and acceptance. The emergence of the global delivery model has taken away the focus from an India-only offshore model to a multi-geography model that has further enhanced the acceptance of outsourcing,” said S Nagarajan, co-founder & COO, 24/7Customer, one of India’s biggest call-centre operators.
Sankalp Saxena, MD, Moveo Systems, said: ‘‘Resistance will be there only till a mutual economic feasibility point is met. After that, it’s a matter of sustaining that relationship. That’s what is happening between India and America now.’’
What happened to the resistance against moving jobs in manufacturing and textiles to China, Taiwan and HongKong is seen to be happening now in IT/BPO. ‘‘That resistance died out with all stakeholders realising the cost benefits,’’ said CEO of a BPO firm. “Democrats are expected to be busy making policies on combating terrorism and handling issues of Iraq and Afghanistan rather than worrying about Indo-US economic relations,” said Atul Jalan, CEO, Manthan Systems.
Patni V-P Tony Viola said: ‘‘What’s predominantly eating into the mindshare of Americans today are issues of war on Iraq, quality and affordable healthcare and easy access to higher education.’’
However, some are less optimistic. ‘‘Democrats may restart their anti-outsourcing campaign, but it will happen only towards the end of 2007, as they will not gain anything from raising the bogey at this point of time,’’ said Ravi Venkitachalam, an Indo-US trade expert. The Democrats recently opposed the government’s plan to increase the number of H1 visas. ‘‘Therefore, immigration quotas will again be a hot button issue in the months to come,’’ said Jessica MacKenzie, director, Tholons, an investment, advisory and management firm.
BANGALORE: Two years ago, US Democratic presidential candidate John Kerry created a scare in the Indian IT industry with his anti-outsourcing rhetoric. To the relief of the industry, Kerry lost that election. Now, Democrats have taken control of the US Congress and Senate. Is the industry worried? Not much. The general sentiment in the tech community is that Indo-US business momentum, irrespective of the Americans’ political preferences, will continue.
The outsourcing industry is seen to have evolved and grown since the presidential elections in 2004. “Outsourcing today is a sector of higher visibility and acceptance. The emergence of the global delivery model has taken away the focus from an India-only offshore model to a multi-geography model that has further enhanced the acceptance of outsourcing,” said S Nagarajan, co-founder & COO, 24/7Customer, one of India’s biggest call-centre operators.
Sankalp Saxena, MD, Moveo Systems, said: ‘‘Resistance will be there only till a mutual economic feasibility point is met. After that, it’s a matter of sustaining that relationship. That’s what is happening between India and America now.’’
What happened to the resistance against moving jobs in manufacturing and textiles to China, Taiwan and HongKong is seen to be happening now in IT/BPO. ‘‘That resistance died out with all stakeholders realising the cost benefits,’’ said CEO of a BPO firm. “Democrats are expected to be busy making policies on combating terrorism and handling issues of Iraq and Afghanistan rather than worrying about Indo-US economic relations,” said Atul Jalan, CEO, Manthan Systems.
Patni V-P Tony Viola said: ‘‘What’s predominantly eating into the mindshare of Americans today are issues of war on Iraq, quality and affordable healthcare and easy access to higher education.’’
However, some are less optimistic. ‘‘Democrats may restart their anti-outsourcing campaign, but it will happen only towards the end of 2007, as they will not gain anything from raising the bogey at this point of time,’’ said Ravi Venkitachalam, an Indo-US trade expert. The Democrats recently opposed the government’s plan to increase the number of H1 visas. ‘‘Therefore, immigration quotas will again be a hot button issue in the months to come,’’ said Jessica MacKenzie, director, Tholons, an investment, advisory and management firm.
Sunday, November 12, 2006
Indian firms bank on cells to stem attrition
12th November 2006 - Economic Times
NEW DELHI: Five-star cafe lunches, employee share options, lifetime medical insurance et al are passe. India Inc has found another way to woo staffers — stem cell banking, where the company pays for storage of stem cells of babies born to employees.
It’s a win-win situation for both. The company manages to retain people and employees get to make the most of the latest research, which can provide solutions to numerous illnesses.
Private sector biggie Hindustan Lever Ltd (HLL) was among the first to introduce this scheme. It has tied up with Chennai-based LifeCell, India’s first exclusive private cord blood bank, to offer this facility to employees.
‘‘We offered this scheme, anticipating future medical advances. For the company, the cost is not much, but it shows we care for our people,’’ says Dr T Rajgopal, VP, Medical & Occupational Health, HLL.
The company pays 50% cost, the employee the rest. Starcom is another company with a similar perk.
‘‘At present, we are in talks with over 40 companies. Recently, Maruti asked us to send emails to all its employees, many of whom have signed on.
TCS, Perot Systems and other IT companies have asked us to make presentations for their employees to familiarise them about cord stem cell banking,’’ says Prasad Mangipudi, VP, marketing, LifeCell.
NEW DELHI: Five-star cafe lunches, employee share options, lifetime medical insurance et al are passe. India Inc has found another way to woo staffers — stem cell banking, where the company pays for storage of stem cells of babies born to employees.
It’s a win-win situation for both. The company manages to retain people and employees get to make the most of the latest research, which can provide solutions to numerous illnesses.
Private sector biggie Hindustan Lever Ltd (HLL) was among the first to introduce this scheme. It has tied up with Chennai-based LifeCell, India’s first exclusive private cord blood bank, to offer this facility to employees.
‘‘We offered this scheme, anticipating future medical advances. For the company, the cost is not much, but it shows we care for our people,’’ says Dr T Rajgopal, VP, Medical & Occupational Health, HLL.
The company pays 50% cost, the employee the rest. Starcom is another company with a similar perk.
‘‘At present, we are in talks with over 40 companies. Recently, Maruti asked us to send emails to all its employees, many of whom have signed on.
TCS, Perot Systems and other IT companies have asked us to make presentations for their employees to familiarise them about cord stem cell banking,’’ says Prasad Mangipudi, VP, marketing, LifeCell.
IBM, Intel increasing its women executives
12th November 2006 - Economic Times
NEW DELHI: They call it a “business imperative”. For many companies, recruiting women is part of a focused diversity programme. But hey dude, like it or not, many see women as more ‘stable’ in times when job-hopping’s considered so kewl.
Hold your breath. In fact, some companies are considering a proposal to earmark as much as 30 % of their total workforce for women. Take the 6,000-strong IT services company Capgemini, which is doubling headcount every year and is expected to grow to 35,000 by 2010.
With a strength of 14-15% women currently, the “company’s vision is to take that figure to 35%” so that they have the right blend, according to S Chandrasekhar, veep, people relationship management, Capgemini.
At IBM too, with a current women strength of 26%, the target for Anita Sinai Guha, India Diversity Leader, IBM Global Services India, is to push it further to 28%, and then again further to maybe 30%. With a workforce of over 43,000 in India, that’s not a mean number. Intel, too, is working at increasing its women population but will not divulge figures yet.
In fact, there seems to be a demand for women recruits at the board level too. “There’s an effort to have a more balanced board these days and there’s a big demand for women executives because they are considered to be more creative and right-brained,” says Uday Chawla, managing partner of global executive search organisation Transearch.
All this isn’t a trend sweeping across the MNCs alone. B K Modi, promoter of Spice group, too has a 30% target for women. Even players in the manufacturing sector are trying to achieve a balanced ratio.
Auto component maker, Cummins India already boasts of having a 30% women population. At a recent auto component industry conference, Anant Talaulicar, joint MD, Cummins India, remarked that women constitute nearly 30% of the women workforce and that’s because of a conscious effort on the part of the company.
For most MNCs, the focus on women is purely a part of their diversity programme. Ms Guha won’t commit herself on any other reasons, but one thing’s quite clear at IMB — this isn’t just one more HR initiative, which is why there is a team that is now handling the diversity issue.
Besides, strategising with HR teams and introducing measures to ensure that attrition among women doesn’t increase, it also means going to girls’ schools and talking about a career in technology.
At Intel, too, “women is part of a diversity-focused initiative led by president and CEO Paul Otellini”. Mr Chandrasekhar of Capgemini, however, makes no bones of the fact that he feels women are “more stable”.
He adds: “Those among them who choose a career devote attention to career and home and do not have too many other distractions. They are also committed and caring.” But he also admits that the real reason for the company’s vision is diversity and they go about it in a focused way — Capgemini taps the all-women engineering colleges and also go by referrals.
In the case of Mr Modi, he admits: “It was only when my daughter came on board that we realised that there were hardly any women in our organisation.” The group then started recruiting women and now want them to constitute at least 30% of the entire workforce here.
In Indian companies, the focus may not have been given the diversity label, but the qualitative difference that women can bring in, is something that’s being acknowledged now.
Says Minda Industries president Nirmal K Minda, “We believe women are better workers than men, as they have low attrition levels, work with more consistency and are easy to train.”
Minda Industries has women that are recruited from various technical polytechnics and IITs and have a lot of women workforce employed on the shop floor.
In the auto component industry, meanwhile, analysts believe that segments like wire harnesses and other electrical part manufacturing have many women. “Women involved in categories like forgings and castings might be less, but other component categories have more women,” says Arvind Dham, CMD, Amtek Auto.
NEW DELHI: They call it a “business imperative”. For many companies, recruiting women is part of a focused diversity programme. But hey dude, like it or not, many see women as more ‘stable’ in times when job-hopping’s considered so kewl.
Hold your breath. In fact, some companies are considering a proposal to earmark as much as 30 % of their total workforce for women. Take the 6,000-strong IT services company Capgemini, which is doubling headcount every year and is expected to grow to 35,000 by 2010.
With a strength of 14-15% women currently, the “company’s vision is to take that figure to 35%” so that they have the right blend, according to S Chandrasekhar, veep, people relationship management, Capgemini.
At IBM too, with a current women strength of 26%, the target for Anita Sinai Guha, India Diversity Leader, IBM Global Services India, is to push it further to 28%, and then again further to maybe 30%. With a workforce of over 43,000 in India, that’s not a mean number. Intel, too, is working at increasing its women population but will not divulge figures yet.
In fact, there seems to be a demand for women recruits at the board level too. “There’s an effort to have a more balanced board these days and there’s a big demand for women executives because they are considered to be more creative and right-brained,” says Uday Chawla, managing partner of global executive search organisation Transearch.
All this isn’t a trend sweeping across the MNCs alone. B K Modi, promoter of Spice group, too has a 30% target for women. Even players in the manufacturing sector are trying to achieve a balanced ratio.
Auto component maker, Cummins India already boasts of having a 30% women population. At a recent auto component industry conference, Anant Talaulicar, joint MD, Cummins India, remarked that women constitute nearly 30% of the women workforce and that’s because of a conscious effort on the part of the company.
For most MNCs, the focus on women is purely a part of their diversity programme. Ms Guha won’t commit herself on any other reasons, but one thing’s quite clear at IMB — this isn’t just one more HR initiative, which is why there is a team that is now handling the diversity issue.
Besides, strategising with HR teams and introducing measures to ensure that attrition among women doesn’t increase, it also means going to girls’ schools and talking about a career in technology.
At Intel, too, “women is part of a diversity-focused initiative led by president and CEO Paul Otellini”. Mr Chandrasekhar of Capgemini, however, makes no bones of the fact that he feels women are “more stable”.
He adds: “Those among them who choose a career devote attention to career and home and do not have too many other distractions. They are also committed and caring.” But he also admits that the real reason for the company’s vision is diversity and they go about it in a focused way — Capgemini taps the all-women engineering colleges and also go by referrals.
In the case of Mr Modi, he admits: “It was only when my daughter came on board that we realised that there were hardly any women in our organisation.” The group then started recruiting women and now want them to constitute at least 30% of the entire workforce here.
In Indian companies, the focus may not have been given the diversity label, but the qualitative difference that women can bring in, is something that’s being acknowledged now.
Says Minda Industries president Nirmal K Minda, “We believe women are better workers than men, as they have low attrition levels, work with more consistency and are easy to train.”
Minda Industries has women that are recruited from various technical polytechnics and IITs and have a lot of women workforce employed on the shop floor.
In the auto component industry, meanwhile, analysts believe that segments like wire harnesses and other electrical part manufacturing have many women. “Women involved in categories like forgings and castings might be less, but other component categories have more women,” says Arvind Dham, CMD, Amtek Auto.
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