A job portal Naukri.com has reported a slow down in the month of August, in the hiring activity by the Indian Inc’s. Although after a long period of recession in India hiring process has started showing signs of revival. The decline of 3.6 per cent has been reported in comparison to the previous month.
According to Naukri.com monthly Job Speak index there has been decrease of 701 in August as against of 727 in July, which shows a decline of 3.6 per cent.
Although a positive trend can be figured from the three-month moving average index and has moved up by 1.7 per cent to 715 in August from 703 in July.
Naukri.com owner Info Edge national head -- marketing and communications Sumeet Singh pointed out, "Hiring activity is steadily picking up across sectors, including Insurance, Banking and IT among others. However, the market seems to be testing waters before consolidating its stance on hiring".
According to survey report, however varied trends have been sited across the cities in the reviewed month, where city’s job index has declined four per cent in August as compared to July,
The survey revealed the drop in hiring activities was witnessed in Delhi-NCR, with city’s job index dropping down to four per cent in August as compared to July.
Whereas since May Delhi-NCR had recovered the most with its average of hiring picking up, according to the three-month moving average.
A slight improvement was seen in the index in August in the four cities, including Bangalore and Ahmedabad.
While comparing sector wise except Banking and Insurance there has been a secular decline in the hiring activity across the industries and experience levels.
Among the cities recruitment activity in Mumbai and Kolkata was stable whereas the index declined by less than a per cent, whereas Chennai, Hyderabad and Pune witnessed a drop in hiring with their city job index dropping by six per cent, seven per cent and five per cent, respectively.
Whereas the sector-wise survey Banking & Financial Services and Insurance has witnessed increase in the sector index by 11 per cent and 23 per cent, respectively.
However there has been increase in the recruitment in the education industry by nine per cent. Even the IT industry saw slowed down in hiring, the index declined by three per cent in IT-Software, six per cent in IT-Hardware & Networking and seven per cent in ITES and BPO segments.
The Construction and Engineering sector also saw a declined of 7 per cent in hiring activity whereas telecom sector declined by seven per cent in August as compared to July.
As per indicators recovery in Banking and Financial Services since December, its average index has been rising.
The index is calculated on the basis of job listings added to the website month on month basis with July 2008 as the base month with a score of 1,000 and the subsequent monthly index is compared with data for July 2008.
Tuesday, September 29, 2009
Thursday, September 17, 2009
Around 51% companies in India to hire professionals and managers
A global survey was conducted by global recruitment firm Antal International the chances of professionals and managers of getting hired have brightened as more than half of the companies in the country have begun hiring process.
As per a quarterly survey report there are around 51% companies in India looking to hire professionals and managers, after a downfall to 29 per cent at the beginning of 2009.
The survey stated, "As a result job prospects for professionals and managers in India are now better than global average".
In April the hiring percentage stood at 46 per cent but now globally, the hiring levels have moved up to 50 per cent.
For the next three months the hiring outlook seems to be promising because around 66 percent of Indian companies are expected to recruit. Also over the next quarter a drop of 21 percent is expected in the job cuts.
According to Antal International India managing partner Joseph Devasia, "After a substantial dip in hiring levels at the start of 2009, confidence seems to have returned to the Indian job market in a dramatic fashion. Two thirds of the businesses we spoke to are already in the process of hiring for the next quarter".
Moreover globally, there has been increase in the percentage of companies planning to hire engineers in the coming quarter from 44 per cent to 48 per cent. On the other hand there has been decline in the percentage of organizations, from 35 per cent in the spring to 25 per cent that have plans to shack the staff across the globe.
The firm conducted the survey of over 7,000 companies in August this year in major markets such as western and Eastern Europe, Africa, India, China and the US whether hiring professionals and managers.
As per a quarterly survey report there are around 51% companies in India looking to hire professionals and managers, after a downfall to 29 per cent at the beginning of 2009.
The survey stated, "As a result job prospects for professionals and managers in India are now better than global average".
In April the hiring percentage stood at 46 per cent but now globally, the hiring levels have moved up to 50 per cent.
For the next three months the hiring outlook seems to be promising because around 66 percent of Indian companies are expected to recruit. Also over the next quarter a drop of 21 percent is expected in the job cuts.
According to Antal International India managing partner Joseph Devasia, "After a substantial dip in hiring levels at the start of 2009, confidence seems to have returned to the Indian job market in a dramatic fashion. Two thirds of the businesses we spoke to are already in the process of hiring for the next quarter".
Moreover globally, there has been increase in the percentage of companies planning to hire engineers in the coming quarter from 44 per cent to 48 per cent. On the other hand there has been decline in the percentage of organizations, from 35 per cent in the spring to 25 per cent that have plans to shack the staff across the globe.
The firm conducted the survey of over 7,000 companies in August this year in major markets such as western and Eastern Europe, Africa, India, China and the US whether hiring professionals and managers.
Tuesday, September 15, 2009
Ford India to hire people for Chennai plant
Ford India is increasing the production capacity of the Chennai plant which will be doubled to 200,000 units per annum, which means creation of more jobs, hiring of more people. The spokesperson of the company said the company is also thinking of setting up 250,000 units’ engine-and-power train plan for which an initial capital expenditure of $500 million will be required.
Michael Boneham, President and Managing Director, Ford India informed, “We have already hired 400 new hands, taking the total workforce in the factory to around 2,000. We are in the process of adding more so that the expanded capacity goes on stream early 2010”.
Boneham told that the investments will be done to increase mechanization, through robots; new stamping press line and the new paint process, thus the Chennai plant of Ford will become a strategic advantage over the other Ford plants.
Tom S. Chackalackal, Vice-President, Manufacturing pointed out, “The new plant will make us competitive with Indian manufacturers and give Indian customers a better product than ever”.
Michael Boneham, President and Managing Director, Ford India informed, “We have already hired 400 new hands, taking the total workforce in the factory to around 2,000. We are in the process of adding more so that the expanded capacity goes on stream early 2010”.
Boneham told that the investments will be done to increase mechanization, through robots; new stamping press line and the new paint process, thus the Chennai plant of Ford will become a strategic advantage over the other Ford plants.
Tom S. Chackalackal, Vice-President, Manufacturing pointed out, “The new plant will make us competitive with Indian manufacturers and give Indian customers a better product than ever”.
Thursday, September 3, 2009
IIMs to adapt Computer Adaptive Testing model for CAT - 2009
This year the Indian Institute of Managements (IIMs) has decided to conduct CAT-2009 online, expecting if this worked out well then it will bring a big change in the testing scenario, in spite of technological glitches. However the Common Admission Test (CAT) is not based on Computer Adaptive Testing model (CAT). Around 3,00,000 candidates are expected to take test which will be conducted in about 30 sessions, 2/3 sessions each day for 10/15 days - with 10,000/12,000 in each session. Therefore, CAT is CBT consisting of Parallel Forms, and these forms will probably be statistically linked.
In India, large number of candidates take tests for high-stake exams and the public is not quite well aware about all the aspects of this new mode. Over the last five years many organizations have conducted computer-based exams. But still the ratio of exams and number of candidates being tested greatly bend towards the paper-pencil mode. The reason behind this is large number of candidates can be tested in a single session with same set of question paper instead of using different sets and then linking them statistically to arrive at equivalence of scores.
In traditional mode (State Bank of India's clerical examination) the number of candidates taking up exam has increased to 6,00,000 in comparison to not more than 5,000 in a session for the computer based testing. As per rule on an average, up to 2,00,000 candidates can be allowed in a single session except in exceptional cases. In the high stake exams one mark makes a lot of difference or mar one’s chances to get his/her name in the list, the insight favors a single session examination. Any major variation is always likely to bring in some preconception. In such conditions, IIMs’ is quite bold to take an initiative to conduct CAT online.
The online tests are tagged differently- on-line tests, computer assisted tests, computer based tests, computer adaptive tests, and tailored tests. From IT view the tests are classified on the basis that how the tests are delivered such as computer based test (CBT) or internet based test (IBT). The difference between CBT and IBT is - CBT can be in a standalone computer or in a LAN with a local server whereas IBT is largely delivered and controlled from a remote centralized server.
In CBT model is basically a distributed model where the questions are loaded on the local server and data is transferred to a central one. While IBT is distributed through a centralized server using internet protocol and data is saved on the server. Thus this is the criteria on which the computer technology will classify testing.
The more remarkable way of classifying tests on computer is the psychometric theory. In India more focus is given on the perceived fairness of the process then the technical issues of reliability and validity. More questions will be raised on fairness and equivalence. According to psychometric theory, the classification is CBT and CAT.
In CBT the test items/questions are displayed on the computer screen rather than on paper. CBT has the following three variations: first one the "same content for all the examinees in one session" the model has the same psychometric credibility as of a paper-pencil test. It is limited only in terms of the number it can manage in a session. This model is known as Simple CBT.
Second, "Different sessions with different but parallel/equivalent content" this can be compared to multiple sessions in paper-pencil mode. Different parallel forms of the test are required to be statistically equated. Questions can be raised about the equivalence and statistical bias. This model is called CBT with Parallel Forms.
Third model has different sessions with randomly selected items from a larger item pool based on different silos of item properties. In this model the complete test for any two examinees will probably be very much different. This model is called CBT with Random Item Selection.
Computer Adaptive Testing (CAT): In this testing is sampling of ability inferred through a sample (represented by test items). Simple rule of statistics is followed - larger the sample better the inference. In accordance to the practical considerations like optimal time, fatigue of test taker, number of items is decided. As all the candidates are given the same test, items of varying difficulty level are selected to generate more individual differences. Thus the effective sample (number of items actually contributing to measurement) gets further reduced depending upon the ability level of the test taker. For instance, if all the candidates with higher ability are given ten easy items, all of them will score very high marks. Similarly, ten difficult ones to lower ability level will generate low score.
In case a test of five easy and five difficult items are given to both the groups then the higher ability group will differentiate from the lower group on the basis of only five items and not the ten actually contained in the test. Five items in this case are superfluous and do not contribute to the final result.
Thus in "conventional" testing the ability or the characteristic is measured via only a small number of items though we use more items. However in actual, the number of items contributing to measurement is much smaller than the actual number in the test. The individual differences are easily noticeable at a broad level and lack micro-precision.
Therefore the better process it to give each candidate items according to her ability. Thus the logic of "suiting to each", it is also called "tailored" or "adaptive" testing. This can be translated as measurement truth after fusion of this principle of tailoring with that of advanced computing facilities giving birth to CAT. So a session will be as follows. An examinee will be given an item of moderate difficulty selected randomly from a large pool. Based on the response, the ability is assessed and accordingly next item of higher or lower difficulty is presented.
The proximity of ability is re-estimated with each item with the testing algorithm of branching off to a next level of difficult item if the response is correct, otherwise to an easier one. After attaining the maximum information about the candidate’s ability the testing terminates. Different candidates are tested through different sets and different number of items and time duration.
Hence the CAT model works on the principle of CBT with Random Item Selection with item characteristics having better accuracy based on Item Response Theory instead of a broader range of characteristics. Moreover, there is an advantage of termination of session with much less number of items yet adding more precision to the score/assessment of ability.
To know about the taste of the dish is to eat it. Some of the questions which might require to be addressed may not get a satisfactory answer. While the test takers will always like to be assured of equivalence. In particular terms they may pose - "If the same candidate were to be tested with any of the parallel forms of the test or from a different pool of randomly selected items or based on CAT, would she get an equivalent score and the same select/reject decision each time?"
Answer of this question is in layperson's language which is difficult to explain. However, there is one practical way to demonstrate the equivalence, is built-in but also to filter out any left over statistical relic from getting the final precise score to be used for select/reject decision. The solution attained from common-sense works equally well with either model.
Here is the rational formula for certifying the equivalence theory and at the same time figure-out statistical and different form variations. From 3,00,000, only the top 6000 or so consider for the further process in IIMs. Believing as if there is no tomorrow and build your Parallel forms as the final forms, the score of which will be used as it is. Check this hypothesis of equivalence when all the 30 forms are completed. Compare statistically the scores to call the top about 10000 to take up the final test using a single form. Then on the basis of this final form the decision will be taken.
Then using the information of earlier forms' statistically corrected score vis-à-vis, the final forms score. In case they match, praise yourself. And if they don't match, of which there is a possibility, feel relaxed that you have been fair to the candidates and have taken extra care about this.
This information can further be used for sorting out the remaining scores of those who have not been able to make to the final round so that the scores are more precise in case the other institutes want to select the candidates. However this require just one more testing session and delay of about 15 days to get the final results. But the payoff will not only do justice but will also appear to be doing so.
Well IIMs have taken a leadership role in guiding in what Andrew S Grove called '10X' Changes ensuing in Strategic Inflection Point (SIP) – indicating to a time in the life of a business or practice when its "fundamentals" are subject to change. The IIMs have to play this role with finesse and responsibility. In the long run, CAT has to be CAT - the new model should be adopted for its advantages as they are too many to let go.
The new model has the possibility to become a norm for all large scale high-stake testing programs irrespective of whether it is CBT or CAT. However the latter, this post testing design is better for a good testing ground for the CAT model itself.
In India, large number of candidates take tests for high-stake exams and the public is not quite well aware about all the aspects of this new mode. Over the last five years many organizations have conducted computer-based exams. But still the ratio of exams and number of candidates being tested greatly bend towards the paper-pencil mode. The reason behind this is large number of candidates can be tested in a single session with same set of question paper instead of using different sets and then linking them statistically to arrive at equivalence of scores.
In traditional mode (State Bank of India's clerical examination) the number of candidates taking up exam has increased to 6,00,000 in comparison to not more than 5,000 in a session for the computer based testing. As per rule on an average, up to 2,00,000 candidates can be allowed in a single session except in exceptional cases. In the high stake exams one mark makes a lot of difference or mar one’s chances to get his/her name in the list, the insight favors a single session examination. Any major variation is always likely to bring in some preconception. In such conditions, IIMs’ is quite bold to take an initiative to conduct CAT online.
The online tests are tagged differently- on-line tests, computer assisted tests, computer based tests, computer adaptive tests, and tailored tests. From IT view the tests are classified on the basis that how the tests are delivered such as computer based test (CBT) or internet based test (IBT). The difference between CBT and IBT is - CBT can be in a standalone computer or in a LAN with a local server whereas IBT is largely delivered and controlled from a remote centralized server.
In CBT model is basically a distributed model where the questions are loaded on the local server and data is transferred to a central one. While IBT is distributed through a centralized server using internet protocol and data is saved on the server. Thus this is the criteria on which the computer technology will classify testing.
The more remarkable way of classifying tests on computer is the psychometric theory. In India more focus is given on the perceived fairness of the process then the technical issues of reliability and validity. More questions will be raised on fairness and equivalence. According to psychometric theory, the classification is CBT and CAT.
In CBT the test items/questions are displayed on the computer screen rather than on paper. CBT has the following three variations: first one the "same content for all the examinees in one session" the model has the same psychometric credibility as of a paper-pencil test. It is limited only in terms of the number it can manage in a session. This model is known as Simple CBT.
Second, "Different sessions with different but parallel/equivalent content" this can be compared to multiple sessions in paper-pencil mode. Different parallel forms of the test are required to be statistically equated. Questions can be raised about the equivalence and statistical bias. This model is called CBT with Parallel Forms.
Third model has different sessions with randomly selected items from a larger item pool based on different silos of item properties. In this model the complete test for any two examinees will probably be very much different. This model is called CBT with Random Item Selection.
Computer Adaptive Testing (CAT): In this testing is sampling of ability inferred through a sample (represented by test items). Simple rule of statistics is followed - larger the sample better the inference. In accordance to the practical considerations like optimal time, fatigue of test taker, number of items is decided. As all the candidates are given the same test, items of varying difficulty level are selected to generate more individual differences. Thus the effective sample (number of items actually contributing to measurement) gets further reduced depending upon the ability level of the test taker. For instance, if all the candidates with higher ability are given ten easy items, all of them will score very high marks. Similarly, ten difficult ones to lower ability level will generate low score.
In case a test of five easy and five difficult items are given to both the groups then the higher ability group will differentiate from the lower group on the basis of only five items and not the ten actually contained in the test. Five items in this case are superfluous and do not contribute to the final result.
Thus in "conventional" testing the ability or the characteristic is measured via only a small number of items though we use more items. However in actual, the number of items contributing to measurement is much smaller than the actual number in the test. The individual differences are easily noticeable at a broad level and lack micro-precision.
Therefore the better process it to give each candidate items according to her ability. Thus the logic of "suiting to each", it is also called "tailored" or "adaptive" testing. This can be translated as measurement truth after fusion of this principle of tailoring with that of advanced computing facilities giving birth to CAT. So a session will be as follows. An examinee will be given an item of moderate difficulty selected randomly from a large pool. Based on the response, the ability is assessed and accordingly next item of higher or lower difficulty is presented.
The proximity of ability is re-estimated with each item with the testing algorithm of branching off to a next level of difficult item if the response is correct, otherwise to an easier one. After attaining the maximum information about the candidate’s ability the testing terminates. Different candidates are tested through different sets and different number of items and time duration.
Hence the CAT model works on the principle of CBT with Random Item Selection with item characteristics having better accuracy based on Item Response Theory instead of a broader range of characteristics. Moreover, there is an advantage of termination of session with much less number of items yet adding more precision to the score/assessment of ability.
To know about the taste of the dish is to eat it. Some of the questions which might require to be addressed may not get a satisfactory answer. While the test takers will always like to be assured of equivalence. In particular terms they may pose - "If the same candidate were to be tested with any of the parallel forms of the test or from a different pool of randomly selected items or based on CAT, would she get an equivalent score and the same select/reject decision each time?"
Answer of this question is in layperson's language which is difficult to explain. However, there is one practical way to demonstrate the equivalence, is built-in but also to filter out any left over statistical relic from getting the final precise score to be used for select/reject decision. The solution attained from common-sense works equally well with either model.
Here is the rational formula for certifying the equivalence theory and at the same time figure-out statistical and different form variations. From 3,00,000, only the top 6000 or so consider for the further process in IIMs. Believing as if there is no tomorrow and build your Parallel forms as the final forms, the score of which will be used as it is. Check this hypothesis of equivalence when all the 30 forms are completed. Compare statistically the scores to call the top about 10000 to take up the final test using a single form. Then on the basis of this final form the decision will be taken.
Then using the information of earlier forms' statistically corrected score vis-à-vis, the final forms score. In case they match, praise yourself. And if they don't match, of which there is a possibility, feel relaxed that you have been fair to the candidates and have taken extra care about this.
This information can further be used for sorting out the remaining scores of those who have not been able to make to the final round so that the scores are more precise in case the other institutes want to select the candidates. However this require just one more testing session and delay of about 15 days to get the final results. But the payoff will not only do justice but will also appear to be doing so.
Well IIMs have taken a leadership role in guiding in what Andrew S Grove called '10X' Changes ensuing in Strategic Inflection Point (SIP) – indicating to a time in the life of a business or practice when its "fundamentals" are subject to change. The IIMs have to play this role with finesse and responsibility. In the long run, CAT has to be CAT - the new model should be adopted for its advantages as they are too many to let go.
The new model has the possibility to become a norm for all large scale high-stake testing programs irrespective of whether it is CBT or CAT. However the latter, this post testing design is better for a good testing ground for the CAT model itself.
Tuesday, September 1, 2009
Vijaya Bank doing campus hiring, to hire 1,000 for various positions
The banks have openings for the fresher as well as for the experienced. Vijaya Bank, the Mangalore-based bank has announced its plan of hiring about 1,000 for various positions before the end of the financial year 2009-10.
The bank at present is in the process of campus recruitments to hire 160 specialists (MBAs), will be starting the process of recruitment of 500 clerks.
After the inauguration of the 1,108th branch at Madhapur Albert Tauro, Chairman and Managing Director, Vijaya Bank, told newspersons, "In addition, we are laterally filling up over 300 positions in Scale III and III for which the interviews are on the anvil".
He added, in addition to catering of the manpower needs of branch expansion program, as during the year over 800 employees will be retiring there is a need for the recruitment of new staff.
The bank is also looking at getting rid of its image as a South India-focused entity. Tauro informed during the year bank will be opening majority of over 92 branches in Maharashtra, Uttar Pradesh, Central India and Punjab.
To achieve the target of 22 per cent in total business (which is at Rs 92,000 crore now) the bank will be putting into force technology products.
He informed, "Within a couple of weeks after launching SMS alerts, we had 40,000 registrations which might touch one lakh by month-end. Mobile banking will be launched in next two/three weeks. This will be followed by phone-banking in two months".
Soon bank will be getting Rs 700 crore from the Government as part of previously-announced capital expansion scheme.
He added, "This will help us maintain capital to risk-weighted assets ratio (CRAR) at above 12 per cent". Currently the CRAR is at 13.34 per cent.
The bank at present is in the process of campus recruitments to hire 160 specialists (MBAs), will be starting the process of recruitment of 500 clerks.
After the inauguration of the 1,108th branch at Madhapur Albert Tauro, Chairman and Managing Director, Vijaya Bank, told newspersons, "In addition, we are laterally filling up over 300 positions in Scale III and III for which the interviews are on the anvil".
He added, in addition to catering of the manpower needs of branch expansion program, as during the year over 800 employees will be retiring there is a need for the recruitment of new staff.
The bank is also looking at getting rid of its image as a South India-focused entity. Tauro informed during the year bank will be opening majority of over 92 branches in Maharashtra, Uttar Pradesh, Central India and Punjab.
To achieve the target of 22 per cent in total business (which is at Rs 92,000 crore now) the bank will be putting into force technology products.
He informed, "Within a couple of weeks after launching SMS alerts, we had 40,000 registrations which might touch one lakh by month-end. Mobile banking will be launched in next two/three weeks. This will be followed by phone-banking in two months".
Soon bank will be getting Rs 700 crore from the Government as part of previously-announced capital expansion scheme.
He added, "This will help us maintain capital to risk-weighted assets ratio (CRAR) at above 12 per cent". Currently the CRAR is at 13.34 per cent.
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