News from the HR World XLRI Jamshedpur
27 November, 2006 School of Business & Human Resources
Work Force Management
If this continues any longer, Indians could be penalised for breaking one glass ceiling too many. The latest one to crack under the weight of their talent is that of management committees of global mega corporations. Citibank has nine Indians, including India CEO Sanjay Nayyar, in its 40-member council. Rivals StanChart, Deutsche and HSBC have one Indian each in their management councils. StanChart has Jaspal Bindra, who is one of the only two members outside the board of directors to be part of the governing body. Anshu Jain, the head of Deutsche Bank’s global markets, is the only Indian in the bank’s eleven-member management council. HSBC has SN Mehta, a group MD who is an integral part of the group management board.
The Confederation of Indian Industry (CII) estimates a booming economy - with about eight percent GDP growth annually - will require about 16-20 million workforce in the organised sector over the next 10 years to sustain the current high growth rate. A study, presented at the 14th CII quality summit here, has revealed that of the existing 8.5-million workforce in the organised sector, about 30 percent will retire in the next five years. 'With an annual growth rate of 30 percent, the IT/BPO sector will be hiring about 360,000 people in this fiscal (2006-07) and, in turn, create a million indirect jobs across the board to support its operations and infrastructure,' Sudarshan, Manipal Universal Learning Ltd president said.
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Employment in India's fast growing telecom sector is set to double in the next five years from the present level of 1.5 million people, industry experts gathered at the CEO Conclave here have said. The Indian IT services and software sector is likely to generate revenue of 80 billion US dollars in the near future providing employment to four million people, experts, including IIM Ahmedabad professor Rekha Jain, estimate.
The BPO industry’s much-touted no-poaching pacts seem to have come a cropper. BPOs that have inked such deals say they exist only on paper. HR honchos in the sector are now declaring that these tie-ups are largely ineffective in retaining talent due to their cosmetic nature. Large BPOs, including IBM Daksh, Dell and EXL, have declared the collapse of such pacts and are, instead, vouching for self-governance as an effective tool for employee retention. The non-performance of no-poaching pacts is also being endorsed by HR consultants like Hewitt Associates.
Bang in the middle of a massive expansion, there is one thing that can spoil India Inc’s party. No, it is not about getting business. Nor is it about funding issues or a spoilsport government. But it is all about getting the right people on board, at the right time. In a knowledge-led economy where business ramp-up is fast and attrition is rising, that too among top performers, employee strategy is one of the most critical factors in swinging the game for India Inc
Labour Laws are routinely flouted by many Indian BPOs. "We contribute nearly five per cent of
NEW DELHI The Call Centre Association of India (CCAI) today condemned unions in BPO sector and said any unions in the industry would hamper industrial efficiency and prosperity. "Instead, we propose a non-political Business Process Industry Human Asset Maintenance Forum to address the unionisation issue," CCAI President Sam Chopra said at an open house session for call centres and BPO fraternity.
Attracting staff from overseas remains a challenge for HR professionals due to a low rate of labour market mobility. According to a new report compiled by the Intelligence Group, in association with StepStone, despite the opportunities which exist, the annual mobility of nationals in the European Union (EU) is less than 0.4%. For those willing to work overseas, the primary motivation is to broaden experience (64%), followed by career development (50%) and the opportunity to obtain a more lucrative salary/benefits package (47%). More companies than ever before will have to develop international recruitment campaigns to ensure competitiveness.
Morgan Stanley can't seem to make up its mind. First, the New York investment bank offered incentives to its senior executives not to put their money in the company's stock. Then, it turned around and offered top retail brokers goodies if they do. So, on the one hand, the company is encouraging top employees to channel their funds into something other than company stock. On the other hand, it is encouraging others to invest in its shares. There seemed to be two features of the new compensation strategy for the senior executives.
Pay levels in Irish financial services companies are forecast to continue to increase, according to a recent survey conducted by Mercer Human Resource Consulting. Mercer’s Financial Services Remuneration Guide 2006 indicates that employers across the Irish financial services sector are projecting salary increases of 5-6% for 2007. Mercer has observed that companies are increasingly adopting a total remuneration approach to employee compensation. Larger incentives and commissions are driving the increased compensation compared to 2005.
Work Force Management
Many business executives agree that hiring and retaining quality employees is a primary concern, and is increasingly becoming the focus of their human resources strategies. Experts say employees tend to leave jobs because of poor working conditions, lack of appreciation and support, little or no opportunity for advancement or inadequate compensation. Attracting quality employees is a function of a company's reputation, business philosophy and its desirability as a place to work. Retaining quality employees, on the other hand, involves keeping them happy and motivated, but also begins with due diligence in hiring practices. An employee retention program doesn't necessarily have to be elaborate or expensive. It can be fairly easily accomplished by implementing a few common sense best practices.
Boosting workplace morale and turning employees into cheerleaders for what they sell are two of the reasons most often cited by companies that give free food to their employees. Because the kinds of places that give their workers free food tend to attract workers who already like those products - chocolate factories attract chocoholics - giving it away to those people makes it a cherished perk. "Not only is it good for morale, but we want our employees to be familiar with the product," said Michael Mitchell, Homemade Ice Cream. Ohio companies that give employees free food and drinks include J.M. Smucker Co. in Orrville southwest of Akron; Salary.com in Waltham, Mass; On the Rise Artisan Breads & Pastries etc.
Nov 27, 2006
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