Apr 7, 2011

Some interesting HR news

1.6 million new jobs this year

The organised sector in India would create about 1.6 million new jobs in 2011. Healthcare sector, followed by manufacturing, hospitality, real estate and others are likely to be the leading sectors in terms of job creation, according to Ma Foi Randstad Employment Trends Survey (METS). This year too, Mumbai, Delhi NCR and Chennai would retain their top slots generating a total of 273,634 jobs among them, it said.
If this forecast comes true then we can expect an all out war for talent in these industries across all levels.

How do you think organizations should cope with this huge demand for talent and yet keep their salary costs low?

Study in the US, work in India

In a surprising finding, a recent study has concluded that an overwhelming majority of Indian students pursuing higher education in the United States would prefer to return home to begin their professional careers.
Only eight per cent of the nearly 1,000 Indian students who were surveyed expressed strong preference to stay back in the US. The rest are either planning to return home or are undecided as of now, says the joint study conducted by Rutgers University, Pennsylvania State University and the Tata Institute of Social Sciences.
Nearly 74 per cent of the respondents plan to return to India eventually or had already done so, with most (53 per cent of the whole sample) preferring to get a few years of work experience in the US prior to returning, the study noted.
This could be the result of the visa lottery system in the US, but if this trend continues, Indian industry and economy would be the gainer of the American education system and short term
Representatives of 25 Indian blue-chip companies, industry mavens, and diplomats gathered in the US Congress that they are creating jobs in the US, not taking them away.

Indian firms presented a checklist of what it was doing for America in troubled times: employing 60,000 people across 40 states, more than four-fifths hired locally; acquisitions worth nearly $6 billion since 2005; hiring thousands of fresh US college graduates; all with the cumulative effect of saving thousands of American jobs.

TeamLease raises 100 crore for funding to push into vocational education

TeamLease completed an equity fund raise of Rs 100 crore to fund the vocational education expansion of the company. This capital was raised from ICICI Venture, and existing investor Gaja Capital Partners.
TeamLease Services, focused on the organized temporary staffing market since 2003, entered vocational education by acquiring the Indian Institute of Job Training (IIJT) in 2010.
Education and skilling are tipped to be the next big growth opportunities in India, and while the formal education sector is still regulated by the government, vocational skilling programs are the big way forward