Saturday, July 26, 2008
Expatriates in Indian Companies
The booming Indian economy is not only offering attractive opportunities to the domestic talents but also offering jobs to foreign workforce. The number of foreigners seeking jobs in India is increasing every year and it is not only the middle and senior level but also young graduates, are taking up jobs in India.
The sectors that offer jobs to expats are information technology, BPO, Pharma, Retail, Telecom, Aviation, and Hospitality. Moreover Indian companies like Infosys, and Wipro inviting summer interns from premier universities like Stanford and Harvard to work with them.
The rate of unemployment is increasing in industrialized economies while the growth opportunities are increasing in South Asian countries including India and China. India, being one of the fastest growing economies in the world, offers growth opportunities to the expats. Moreover the compensation offered to then by Indian companies is better than their home countries.
The Indian companies offer attractive leadership positions to experienced expatriates who bring in global perspective with them. Most of the entrepreneurs also believe that expat managers have more abilities when compared to their Indian counterparts. This trend of expats occupying key positions and leadership roles is hitting the Indian corporate these days. They argue that an expats occupying key role doesn’t come with the commitment to stay for a long term with the company; they have poor understanding of Indian markets and environment; their ability to deal with diverse workforce is always doubtful. For all those who are challenging expats leadership quality must acknowledge that expats demonstrate a higher risk taking ability; they are transparent and accountable; they acts as key source of innovations; they are mostly not the part of corporate politics; they promote harmony and responsibility in the company.
Indian workforce are impacting UAE construction boom
Why would anyone want to leave there homeland and go abroad when the opportunity and remuneration offered to the workforce is at par. The boom in Indian economy has opened the doors of opportunity in few industries at homeland and the construction industry is one among them.
The UAE construction industry is facing brunt of the rapid economic growth, improved career opportunities and higher wages in the Indian construction industry. The UAE construction industry is facing an acute shortage of construction workforce as Indian workers, as a result of economic boom and rising salaries prefer to stay home. This has impacted UAE construction industry in a big way as roughly 43 per cent of all foreign workers in the UAE are Indians.
The regional and international players in India are trying to attract the talent pool by offering attractive salaries and benefits. The salary in Indian construction industry is increasing at roughly 14- 15 percent in comparison to the UAE construction industry where its growing at 10-11 percent. Moreover the declining value of the UAE Dirham against the Indian Rupee is adding to the wages issue.
The UAE construction companies have to offer much more attractive salaries and benefits to the Indian workforce, to attract them, to retain them। It’s high time, acknowledge the change.
Reference: http://www.financialexpress.com, Shortage of Indian workers hits UAE construction boom, July 17, 2008
The UAE construction industry is facing brunt of the rapid economic growth, improved career opportunities and higher wages in the Indian construction industry. The UAE construction industry is facing an acute shortage of construction workforce as Indian workers, as a result of economic boom and rising salaries prefer to stay home. This has impacted UAE construction industry in a big way as roughly 43 per cent of all foreign workers in the UAE are Indians.
The regional and international players in India are trying to attract the talent pool by offering attractive salaries and benefits. The salary in Indian construction industry is increasing at roughly 14- 15 percent in comparison to the UAE construction industry where its growing at 10-11 percent. Moreover the declining value of the UAE Dirham against the Indian Rupee is adding to the wages issue.
The UAE construction companies have to offer much more attractive salaries and benefits to the Indian workforce, to attract them, to retain them। It’s high time, acknowledge the change.
Reference: http://www.financialexpress.com, Shortage of Indian workers hits UAE construction boom, July 17, 2008
Friday, July 25, 2008
No to Women Boss - ASSOCHAM
Its official now, we prefer male boss over a female boss. ASSOCHAM (The Associated Chambers of Commerce and Industry in India) recently concluded survey - “Preference of Bosses in Emerging Corporate Culture” which declares that more than 68% men and women prefer male bosses at their work.
The survey result which was based on the 2,500 executives feedback suggest that about 68 percent showed preference for male bosses saying male bosses give more operational freedom at work and are faster in decision-making, while the remaining 32 percent did not have any preference. More interestingly, of the 68 percent executives who voted for male bosses, two-thirds were female. The respondents argued that women approach work with more emotion than men. Also, motherhood and family responsibilities keep them from accomplishing assigned work leading to discontentment among the juniors.
The study also shows that women in the workplace do not just prefer male bosses over female bosses; they also feel more comfortable with male co-workers. Men choices were more evenly split, with 17 percent choosing male co-workers and 16 percent choosing female co-workers.
The survey, which comprised 67 per cent women and 33 per cent men, also found out :
Women have to work twice as hard to prove themselves.
Women picked a male boss rather than a female boss,
More men would rather work for men than women; 50 percent of men chose a male boss and 12 percent picked a female boss
Most women, 77 percent, agree that it is still difficult for women to get ahead in the workplace; only 43 percent of men feels that way.
A majority of women, 56 percent, feel that at one time or another they have been disadvantaged in the workplace because of their gender, while 25 percent of men feel the same way.
The better the bosses, the longer the stability factor is yet another key findings of the survey. On working with strict bosses, majority of the executives said they would opt for an early exist as today there are immense opportunities available
Reference: http://www.assocham.org, Male Bosses in Preference, Tuesday, May 13, 2008
The survey result which was based on the 2,500 executives feedback suggest that about 68 percent showed preference for male bosses saying male bosses give more operational freedom at work and are faster in decision-making, while the remaining 32 percent did not have any preference. More interestingly, of the 68 percent executives who voted for male bosses, two-thirds were female. The respondents argued that women approach work with more emotion than men. Also, motherhood and family responsibilities keep them from accomplishing assigned work leading to discontentment among the juniors.
The study also shows that women in the workplace do not just prefer male bosses over female bosses; they also feel more comfortable with male co-workers. Men choices were more evenly split, with 17 percent choosing male co-workers and 16 percent choosing female co-workers.
The survey, which comprised 67 per cent women and 33 per cent men, also found out :
Women have to work twice as hard to prove themselves.
Women picked a male boss rather than a female boss,
More men would rather work for men than women; 50 percent of men chose a male boss and 12 percent picked a female boss
Most women, 77 percent, agree that it is still difficult for women to get ahead in the workplace; only 43 percent of men feels that way.
A majority of women, 56 percent, feel that at one time or another they have been disadvantaged in the workplace because of their gender, while 25 percent of men feel the same way.
The better the bosses, the longer the stability factor is yet another key findings of the survey. On working with strict bosses, majority of the executives said they would opt for an early exist as today there are immense opportunities available
Reference: http://www.assocham.org, Male Bosses in Preference, Tuesday, May 13, 2008
Attrition in hospitalityIndustry
A study conducted by the Associated Chambers of Commerce & Industry of India reveals that the attrition rate in the hospitality industry in India is set to double to nearly 50% by 2010, up from the earlier 25% growing at an alarming rate of 10% per annum.
The hospitality industry is facing attrition problem from the growing hospitality industry in India and talent pool in India eager to test foreign waters for more lucrative opportunities. Moreover, the hospitality industry talent pool is also exploring better opportunities in industries like BPO, Banking, Call centers etc
The rising attrition rates are posing a major threat to the hotel groups. As per estimates about 80% of people prefer going to UK and Dubai to join the food and retail industry. These are the preferred destination for the hospitality industry professionals to start a career in hospitality industry.
The government and education institutions are working towards bridging the gap but top level management of the hospitality industry should also work towards solving the problem. The hospitality industry to retain people should work on the deferred compensation schemes, improved salary packages, better incentives, attractive perks etc.
Reference: http://www.financialexpress.com, High attrition hits hospitality sector, February 18, 2008
The hospitality industry is facing attrition problem from the growing hospitality industry in India and talent pool in India eager to test foreign waters for more lucrative opportunities. Moreover, the hospitality industry talent pool is also exploring better opportunities in industries like BPO, Banking, Call centers etc
The rising attrition rates are posing a major threat to the hotel groups. As per estimates about 80% of people prefer going to UK and Dubai to join the food and retail industry. These are the preferred destination for the hospitality industry professionals to start a career in hospitality industry.
The government and education institutions are working towards bridging the gap but top level management of the hospitality industry should also work towards solving the problem. The hospitality industry to retain people should work on the deferred compensation schemes, improved salary packages, better incentives, attractive perks etc.
Reference: http://www.financialexpress.com, High attrition hits hospitality sector, February 18, 2008
Attrition Hits the Cement Industry
Any fast growing industry has its own flip side and attrition is one of them. The same is true for the Indian cement industry.
Capacity expansion of existing companies and entrance of new players have added fuel to the job market. This is the dream time for professional working in the cement industry. The professionals are happy with the emerged situation as they are in position to demand good compensation and benefits but the employers are facing problem to retain and attract good talent. Attrition in cement industry has increased in recent times. The attrition in junior level employees is high in comparison with the middle and senior level employees. The attrition rate at Ambuja Cements is up to 15 per cent and at UltraTech Cement attrition is around 15-18 per cent. The situation is almost same with other cement manufacturers in India.
The 189-million tonne domestic cement industry is gearing up to tackle attrition in the industry. Ambuja Cements to put a check on the high attrition has increased compensation packages and are even inducting graduate engineers and diploma-holding engineers as trainees. UltraTech Cement has introduced deferred compensation schemes and improved salary packages. Moreover, to beat the attrition and talent crunch in the industry, In the last two years, Ambuja Cements hired over 300 engineers from regional colleges across the country and allocated them to different units.
Reference: http://www.business-standard.com Cement firms gear up to tackle attrition, Chandan Kishore Kant / Mumbai May 13, 2008
Capacity expansion of existing companies and entrance of new players have added fuel to the job market. This is the dream time for professional working in the cement industry. The professionals are happy with the emerged situation as they are in position to demand good compensation and benefits but the employers are facing problem to retain and attract good talent. Attrition in cement industry has increased in recent times. The attrition in junior level employees is high in comparison with the middle and senior level employees. The attrition rate at Ambuja Cements is up to 15 per cent and at UltraTech Cement attrition is around 15-18 per cent. The situation is almost same with other cement manufacturers in India.
The 189-million tonne domestic cement industry is gearing up to tackle attrition in the industry. Ambuja Cements to put a check on the high attrition has increased compensation packages and are even inducting graduate engineers and diploma-holding engineers as trainees. UltraTech Cement has introduced deferred compensation schemes and improved salary packages. Moreover, to beat the attrition and talent crunch in the industry, In the last two years, Ambuja Cements hired over 300 engineers from regional colleges across the country and allocated them to different units.
Reference: http://www.business-standard.com Cement firms gear up to tackle attrition, Chandan Kishore Kant / Mumbai May 13, 2008
Tech Mahindra appoints Damodaran as additional director
Tech Mahindra is a global systems integrator and business transformation consulting firm focused on the communications industry. For over two decades, Tech Mahindra has been the chosen transformation partner for wireline, wireless and broadband operators in Europe, Asia-Pacific and North America. Tech Mahindra has grown rapidly to become the 6th largest software exporter in India (NASSCOM 2007) and the second largest telecom software provider from India (Voice & Data 2007).
Telecommunications services and solutions provider Tech Mahindra has appointed Meleveetil Damodaran, former chairman of the Securities and Exchange Board of India, as its additional director with effect from July 22. The Tech Mahindra Board strength, with the induction of Damodaran, would stand at 12.
Meleveetil Damodaran is the Ex-chairman of the Securities and Exchange Board of India (SEBI), the country's financial market watchdog, before which he had headed the IDBI Bank. He belongs to the Indian Administrative Service, Manipur-Tripura cadre.
Telecommunications services and solutions provider Tech Mahindra has appointed Meleveetil Damodaran, former chairman of the Securities and Exchange Board of India, as its additional director with effect from July 22. The Tech Mahindra Board strength, with the induction of Damodaran, would stand at 12.
Meleveetil Damodaran is the Ex-chairman of the Securities and Exchange Board of India (SEBI), the country's financial market watchdog, before which he had headed the IDBI Bank. He belongs to the Indian Administrative Service, Manipur-Tripura cadre.
KPMG India key appointments
KPMG was established in India in September 1993. It has built a significant competitive presence in the country. KPMG operates from its offices in Mumbai, Pune, Delhi, Kolkata, Chennai, Bangalore and Hyderabad, and offers its clients a full range of services various domain including financial and business advisory, tax and regulatory, and risk advisory services.
The KPMG to strengthen its presence and market share has restructured its leadership team. The firm as part of strengthening its existing leadership and executive team in the country has made various key appointments
Pradip Kanakia – Head of markets
Abizer Diwanji – Head of financial services
Harishanker Subramaniam – Head of Infrastructure & Government
Sudhir Kapadia – Head of consumer markets
Rajesh Jain – Head of information, communication and entertainment
Yezdi Nagporewalla – Head of industrial markets
Hope the consulting firm KPMG strengthen its presence in India post these appointments.
The KPMG to strengthen its presence and market share has restructured its leadership team. The firm as part of strengthening its existing leadership and executive team in the country has made various key appointments
Pradip Kanakia – Head of markets
Abizer Diwanji – Head of financial services
Harishanker Subramaniam – Head of Infrastructure & Government
Sudhir Kapadia – Head of consumer markets
Rajesh Jain – Head of information, communication and entertainment
Yezdi Nagporewalla – Head of industrial markets
Hope the consulting firm KPMG strengthen its presence in India post these appointments.
Thursday, July 24, 2008
Rajat Monga is new Yes Bank President
Yes Bank India, founded under the initiative of Rana Kapoor and Ashok Kapur, is known for comprehensive banking and providing financial solutions to its customers. Yes Bank currently has 80 operational branches and plans to open another 37 in the coming months, it added.
Yes Bank has appointed Rajat Monga as President for financial markets. He was previously with Rabo India Finance as its treasurer.
Rajat Monga, currently Yes Bank's Chief Financial Officer, also worked with the labs and operations at Attributor. Rajat Monga at Attributor was responsible for development of many of Attributor’s core architectural principles. Prior to Attributor, Rajat played a lead role in Search at eBay. He also has extensive experience designing and building complex scalable systems at Quova, Arzoo and Morgan Stanley.
Rajat received his B.Tech. from the Indian Institute of Technology Delhi.
Yes Bank has appointed Rajat Monga as President for financial markets. He was previously with Rabo India Finance as its treasurer.
Rajat Monga, currently Yes Bank's Chief Financial Officer, also worked with the labs and operations at Attributor. Rajat Monga at Attributor was responsible for development of many of Attributor’s core architectural principles. Prior to Attributor, Rajat played a lead role in Search at eBay. He also has extensive experience designing and building complex scalable systems at Quova, Arzoo and Morgan Stanley.
Rajat received his B.Tech. from the Indian Institute of Technology Delhi.
Wednesday, July 23, 2008
Exit interview is important
In current business environment when attrition rate is high, in few cases like BPO it is as high as 30 percent, companies are curious to know why employees make that final decision.
Human resources departments, to understand the reasons behind attrition conduct exit interviews. These exits interviews help them gather data which are effectively used in improving working conditions and retaining employees. This is an effort to understand why employees leave an organization. Companies across globe are taking exit interviews seriously and making effective changes on the feedback. Some companies are even taking services of specialized HR companies to conduct exit interviews. Interestingly, the outgoing-employees tend to be more open and speak their mind when a third-party conducts exit interview.
Feedback from exit interviews is helping companies come up with systemic remedies. A few basic exit interview questions which are asked by human resources managers:
Why are you leaving?
What did you like least about your position?
What did you like most about your position?
How do you feel about the company operations?
How do you feel about the company management practice?
Under what conditions would you have stayed?
How did you feel about your pay and other benefits?
How did you feel you were managed during your length of employment?
Exit interviews reveal a lot about the culture of a company, the management style, the compensation and opportunities for growth. A hidden purpose is to help employers avoid costly litigation down the road, caused by "disgruntled" employees.
Human resources departments, to understand the reasons behind attrition conduct exit interviews. These exits interviews help them gather data which are effectively used in improving working conditions and retaining employees. This is an effort to understand why employees leave an organization. Companies across globe are taking exit interviews seriously and making effective changes on the feedback. Some companies are even taking services of specialized HR companies to conduct exit interviews. Interestingly, the outgoing-employees tend to be more open and speak their mind when a third-party conducts exit interview.
Feedback from exit interviews is helping companies come up with systemic remedies. A few basic exit interview questions which are asked by human resources managers:
Why are you leaving?
What did you like least about your position?
What did you like most about your position?
How do you feel about the company operations?
How do you feel about the company management practice?
Under what conditions would you have stayed?
How did you feel about your pay and other benefits?
How did you feel you were managed during your length of employment?
Exit interviews reveal a lot about the culture of a company, the management style, the compensation and opportunities for growth. A hidden purpose is to help employers avoid costly litigation down the road, caused by "disgruntled" employees.
Indians second largest group of skilled migrants in Australia
Indians second largest group of skilled migrants in Australia
Indians have become the second largest group of skilled migrants to Australia. This migration happened under the temporary skilled migration programme during 2007-2008. Under the scheme almost a quarter of the temporary workers came from the UK, and India came second with 14 percent followed by the Philippines at nine percent and South Africa at six percent.
Australia, to meet the severe national skills shortages, offered 110,570 visas under the temporary skilled migration programme last year, a 27 percent increase on the previous year's 87,310.
Source : The Economic Times
Indians have become the second largest group of skilled migrants to Australia. This migration happened under the temporary skilled migration programme during 2007-2008. Under the scheme almost a quarter of the temporary workers came from the UK, and India came second with 14 percent followed by the Philippines at nine percent and South Africa at six percent.
Australia, to meet the severe national skills shortages, offered 110,570 visas under the temporary skilled migration programme last year, a 27 percent increase on the previous year's 87,310.
Source : The Economic Times
Harvard Professor Tarun Khanna to Join GVK BIO Board
GVK Biosciences, Asia's leading Contract Research Organization, delivers integrated research services to big Pharma and Biotech companies globally. The company accelerates the Drug Discoveryand Development process of its customers through science and innovation. GVK Biosciences, Asia's leading Contract Research Organization, has more than 1,300 employees spread across different facilities in Hyderabad, Chennai, Mumbai and Gurgaon.
Asia's leading Contract research Organisation GVK Biosciences has appointed Tarun Khanna to its Board of Directors. Tarun Khanna is the Jorge Paulo Lemann Professor at the Harvard Business School, where he has been a member of the Strategy group since 1993. He also lectures and consults with companies and governments worldwide.
Tarun Khanna holds a BS degree from Princeton University and a Ph.D. from Harvard University. Dr. Khanna heads the Strategy course in the Harvard MBA program and the Strategy, Leadership & Governance Executive Education program.
Asia's leading Contract research Organisation GVK Biosciences has appointed Tarun Khanna to its Board of Directors. Tarun Khanna is the Jorge Paulo Lemann Professor at the Harvard Business School, where he has been a member of the Strategy group since 1993. He also lectures and consults with companies and governments worldwide.
Tarun Khanna holds a BS degree from Princeton University and a Ph.D. from Harvard University. Dr. Khanna heads the Strategy course in the Harvard MBA program and the Strategy, Leadership & Governance Executive Education program.
Tuesday, July 22, 2008
Siddhanta Sharma to join InterGlobe Group
Siddhanta Sharma will join InterGlobe Group, as Executive Director, Corporate Affairs. In the new role, he will take care of the group's general aviation, hospitality business and group's travel management business for international airlines and cruises. He will also take care of distribution business of Travelport's Galileo GDS.
Siddhanta Sharma former CEO of budget carrier SpiceJet, brings with him a wealth of knowledge, understanding and management experience across industries including domestic aviation. He recently resigned as CEO of SpiceJet citing personal reasons. He will relinquish his office in SpiceJet on July 31. Previously, he has been Managing Director-India of ABF Grain Products engaged in commodities business.
InterGlobe Group, the parent company of low-cost airline IndiGo has business interest in air transport, hospitality, travel and tourism. InterGlobe Enterprises is a diversified international corporation:
Air transport management - InterGlobe Air Transport
Travel distribution - Galileo India
Integrated travel & technology solutions- InterGlobe Technologies
Hotels - InterGlobe Hotels
Operational technology consulting for Indian travel industry - InterGlobe Technology Quotient
Largest cruise representation in India- InterGlobe Cruises
Domestic Airline - IndiGo
Complete destination management company - InterGlobe Holidays
InterGlobe General Aviation - InterGlobe General Aviation.
Siddhanta Sharma former CEO of budget carrier SpiceJet, brings with him a wealth of knowledge, understanding and management experience across industries including domestic aviation. He recently resigned as CEO of SpiceJet citing personal reasons. He will relinquish his office in SpiceJet on July 31. Previously, he has been Managing Director-India of ABF Grain Products engaged in commodities business.
InterGlobe Group, the parent company of low-cost airline IndiGo has business interest in air transport, hospitality, travel and tourism. InterGlobe Enterprises is a diversified international corporation:
Air transport management - InterGlobe Air Transport
Travel distribution - Galileo India
Integrated travel & technology solutions- InterGlobe Technologies
Hotels - InterGlobe Hotels
Operational technology consulting for Indian travel industry - InterGlobe Technology Quotient
Largest cruise representation in India- InterGlobe Cruises
Domestic Airline - IndiGo
Complete destination management company - InterGlobe Holidays
InterGlobe General Aviation - InterGlobe General Aviation.
Rakesh Sarin is new Wartsila India MD
Rakesh Sarin is new Wartsila India MD
Wartsila, Power solutions provider, operates from 150 locations in 70 countries and has a total headcount of 16,000 professionals across the globe. Wärtsilä is one of the first Finnish companies to enter the Indian market. In 1986 Wartsila India was formed as a listed company. In 1989 it established a manufacturing unit at Khopoli near Mumbai.. Over the years, Wärtsilä extended its offering to the market by not just supplying equipment but by positioning itself as a turnkey solutions provider.
Wartsila India has over 1000 employees in India and a total installed base of 4500 MW (power plants and marine engines). Wartsila India has appointed Rakesh Sarin as new Managing Director in the country.
Rakesh Sarin who joined Power solutions provider, Wartsila India in 1998 has served the organization in various capacities. Sarin, at present, heads the global marketing and sales process development of the company. He is also on the board of global power plants management team of Wartsila Corporation.
Wartsila, Power solutions provider, operates from 150 locations in 70 countries and has a total headcount of 16,000 professionals across the globe. Wärtsilä is one of the first Finnish companies to enter the Indian market. In 1986 Wartsila India was formed as a listed company. In 1989 it established a manufacturing unit at Khopoli near Mumbai.. Over the years, Wärtsilä extended its offering to the market by not just supplying equipment but by positioning itself as a turnkey solutions provider.
Wartsila India has over 1000 employees in India and a total installed base of 4500 MW (power plants and marine engines). Wartsila India has appointed Rakesh Sarin as new Managing Director in the country.
Rakesh Sarin who joined Power solutions provider, Wartsila India in 1998 has served the organization in various capacities. Sarin, at present, heads the global marketing and sales process development of the company. He is also on the board of global power plants management team of Wartsila Corporation.
Monday, July 21, 2008
PepsiCo India - Approach to Tap Female Talent
PepsiCo India has taken an unusual approach to recruiting. The company has teamed up with JobStreet.com, to exclusively target women who wish to return to the corporate world.
From the time this initiative was made effective, the Web site has received a huge response from female candidates.
The Job opportunities offered include part-time and full-time options.
These are basically into consulting and sales and marketing. Most importantly, they allow the applicants to work from home or have flexible schedules.
The percentage of female employees has increased dramatically in the company and currently comprises 33 percent of top management positions and 15 percent of the remainder of the workforce.
PepsiCo India along with JobStreet.com is working to expand the initiative to other multinational companies such as Microsoft India and IBM India.
Source: Diversity Executive Magazine
From the time this initiative was made effective, the Web site has received a huge response from female candidates.
The Job opportunities offered include part-time and full-time options.
These are basically into consulting and sales and marketing. Most importantly, they allow the applicants to work from home or have flexible schedules.
The percentage of female employees has increased dramatically in the company and currently comprises 33 percent of top management positions and 15 percent of the remainder of the workforce.
PepsiCo India along with JobStreet.com is working to expand the initiative to other multinational companies such as Microsoft India and IBM India.
Source: Diversity Executive Magazine
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