The students of Institute of Management Technology (IMT), Ghaziabad, have got high salary offers this year. There has been a 12.5 per cent increase in salary offers for the executive education batch at Rs 18 lakh as against Rs 16 lakh offered last year.
Around 30 percent of offers were made by information technology (IT) companies and HCL Technologies made the highest offer, followed by pharmaceutical firms and banks — each at 20 per cent.
Prakash Pathak, head, corporate relations, IMT Ghaziabad said, "HCL Technologies has come to the campus for the first time to hire students of the executive batch. The IT companies are again hiring because their global projects are back on track and we expect this trend to pick up."
The companies that made placement offers include Dr Reddy ’s, ICICI Bank, Dhanlaxmi Bank, Kotak Mahindra Bank, Deloitte and HDFC Bank.
The average salary offered was Rs 12 lakh for the batch of 59 students and the profiles offered were consulting and business analytics in IT, sales, marketing and research in pharma.
He said, "The interesting trend this year was that cross domain hiring happened with banks hiring for their IT profiles. Similarly, IT firms have hired people with banking and logistics backgrounds. Companies have again started showing interest in lateral hiring."
Tuesday, October 19, 2010
Wednesday, October 13, 2010
IT leaders to hire 90,000 software professionals this year
The IT software professionals in India should now forget about last year’s recession and look and get ready for new opportunities as India’s top IT firms including Tata Consultancy Services, Infosys and Wipro are set to hire around 90,000 software professionals this year, as against 20,000 last year.
After global economic crisis last year IT companies stopped hiring and shed jobs in December 2008, since then it is the first time that a recruitment of software professionals on such a large scale is going to be done by top IT leader’s.
According to recruitment firms and HR honchos employed with leading IT firms the sector has witnessed the highest ever job creation in September and the staff strength will increase over 50%, similar to pre-recession levels.
E Balaji, director & president, Ma Foi Randstad said, “This is the highest hiring growth recorded in the IT sector since recession. We expect similar momentum till November since companies will be required to complete their annual hiring plan before next year.” According to him approximately IT hiring has grown 20-22% during August-September over the same period last year.
Till 2008, 15% attrition rate was considered conventional in an industry where some firms tried to keep it below 20-30%. Now large GE customers like JPMorgan, Citibank and GE sending more projects to India on the other hand firms such as IBM and Accenture are under pressure to hire more from low-cost countries like India therefore to retain and hire best talent is back.
In addition to recruitment of freshers for new projects, companies have also started building bench strengths for future business. Pradeep Udhas, executive director and head of IT advisory, KPMG said, “IT biggies are stocking up skills and training them in advance in anticipation of new contracts they are expected to bag in the near future.”
He added, “Some of them are also expecting attrition, and hence a preventive measure. All major companies like TCS, Infosys, and Cognizant have exceeded their expected earnings levels.” He is hopeful this renewed hiring momentum will continue for another year.
MphasiS, last year had recruited around 1,156 employees and in its last quarterly results it had declared a manpower base of 38,275 has said at present there are more than 2,000 vacant positions within the company.
MphasiS chief human resource officer Elango R. says, “We never stopped hiring even during the downturn. What is encouraging is that some of the other companies that ceased recruitment have again started hiring.”
The main recruiters say in tier-I companies the recruitment is still at pre-recession levels, and it will take sometime to pick up in the mid-level as the market landscape has changed. They say, but specialist companies like those in product development, analytics and testing are still growing and, also speeding up in recruitment.
Ikya Human Capital Solutions MD Ajit Isaac says, “Recruitment may be back, but there is much more sanctity now.” He says, “Recruitment is much more planned now with a small bench. Companies are also much more disciplined and avoiding employees who frequently change jobs.”
Mahindra Satyam making comeback trail, is also planning to hire around 3,000 by February next year. The company at present has 27,000 employees on rolls, from the past few months has been hiring fresh talent and, during May-July it had hired around 3,000 people.
After global economic crisis last year IT companies stopped hiring and shed jobs in December 2008, since then it is the first time that a recruitment of software professionals on such a large scale is going to be done by top IT leader’s.
According to recruitment firms and HR honchos employed with leading IT firms the sector has witnessed the highest ever job creation in September and the staff strength will increase over 50%, similar to pre-recession levels.
E Balaji, director & president, Ma Foi Randstad said, “This is the highest hiring growth recorded in the IT sector since recession. We expect similar momentum till November since companies will be required to complete their annual hiring plan before next year.” According to him approximately IT hiring has grown 20-22% during August-September over the same period last year.
Till 2008, 15% attrition rate was considered conventional in an industry where some firms tried to keep it below 20-30%. Now large GE customers like JPMorgan, Citibank and GE sending more projects to India on the other hand firms such as IBM and Accenture are under pressure to hire more from low-cost countries like India therefore to retain and hire best talent is back.
In addition to recruitment of freshers for new projects, companies have also started building bench strengths for future business. Pradeep Udhas, executive director and head of IT advisory, KPMG said, “IT biggies are stocking up skills and training them in advance in anticipation of new contracts they are expected to bag in the near future.”
He added, “Some of them are also expecting attrition, and hence a preventive measure. All major companies like TCS, Infosys, and Cognizant have exceeded their expected earnings levels.” He is hopeful this renewed hiring momentum will continue for another year.
MphasiS, last year had recruited around 1,156 employees and in its last quarterly results it had declared a manpower base of 38,275 has said at present there are more than 2,000 vacant positions within the company.
MphasiS chief human resource officer Elango R. says, “We never stopped hiring even during the downturn. What is encouraging is that some of the other companies that ceased recruitment have again started hiring.”
The main recruiters say in tier-I companies the recruitment is still at pre-recession levels, and it will take sometime to pick up in the mid-level as the market landscape has changed. They say, but specialist companies like those in product development, analytics and testing are still growing and, also speeding up in recruitment.
Ikya Human Capital Solutions MD Ajit Isaac says, “Recruitment may be back, but there is much more sanctity now.” He says, “Recruitment is much more planned now with a small bench. Companies are also much more disciplined and avoiding employees who frequently change jobs.”
Mahindra Satyam making comeback trail, is also planning to hire around 3,000 by February next year. The company at present has 27,000 employees on rolls, from the past few months has been hiring fresh talent and, during May-July it had hired around 3,000 people.
Tuesday, October 5, 2010
IIM-A formulated placement reporting standards for all B-schools
The placement reporting standards for all B-schools in the country have been formulated by the Indian Institute of Management Ahmedabad (IIM-A) so that, there is greater objectivity and uniformity in the manner placement reports in B schools are projected in the media.
The decision in this regard was taken in a recruiter conclave organized by IIM-A on Friday in Mumbai. The conclave was attended by around 160 recruiters, including Morgan Stanley, Standard Chartered Bank and Indian Bank.
From B-Schools, placement coordinators from institutes such as IIM-Calcutta, IIM-Shillong, IIM-Lucknow, IIM-Indore, SP Jain Institute, ISB Hyderabad and others were present.
The placement in charges of other institutes and recruiters provided the inputs at the conclave. IIM-A will soon draft a proposal on this and send it to all stakeholders for discussion and get their reviews.
Placements chairperson at IIM-A Saral Mukherjee said: "We'll try for a consensus among B-schools to publish the standards very soon."
“The standards will have guidelines as to what details of the students' placements and the pay packets offered were to be shared with the media by the placement cell and what was the appropriate time to do so."
About the general trend of recruiters offering packages in terms of Cost to Company (CTC), which is very different from what a student will actually get, Mukherjee said, "We will be requesting the companies to be clear on the components of the package like joining bonuses, one-time relocation expenses, variable components and so on, so that there can be more clarity."
The decision in this regard was taken in a recruiter conclave organized by IIM-A on Friday in Mumbai. The conclave was attended by around 160 recruiters, including Morgan Stanley, Standard Chartered Bank and Indian Bank.
From B-Schools, placement coordinators from institutes such as IIM-Calcutta, IIM-Shillong, IIM-Lucknow, IIM-Indore, SP Jain Institute, ISB Hyderabad and others were present.
The placement in charges of other institutes and recruiters provided the inputs at the conclave. IIM-A will soon draft a proposal on this and send it to all stakeholders for discussion and get their reviews.
Placements chairperson at IIM-A Saral Mukherjee said: "We'll try for a consensus among B-schools to publish the standards very soon."
“The standards will have guidelines as to what details of the students' placements and the pay packets offered were to be shared with the media by the placement cell and what was the appropriate time to do so."
About the general trend of recruiters offering packages in terms of Cost to Company (CTC), which is very different from what a student will actually get, Mukherjee said, "We will be requesting the companies to be clear on the components of the package like joining bonuses, one-time relocation expenses, variable components and so on, so that there can be more clarity."
Tuesday, September 28, 2010
Common banking entrance test for public sector banks proposed
Public sector banks (PSBs) will also be having common entrance test for hiring new talent.
A K Khandelwal committee had recommended the common entrance test which has been accepted by the government. The Indian Banks Association has also accepted a common recruitment program for PSBs which will be conducted by the Institute of Banking Personnel Selection (IBPS).
Earlier in January, Business Standard had reported that IBA is working on the process of a common test for job aspirants in PSBs. The banks are planning to recruit around 34,000 officers and 51,000 clerical staff over the next three years, through a common entrance test program the issue of manpower shortage in state-owned banks will get solved.
The finance ministry said in a media statement, “Taking note of the fact that many PSBs are already utilising the services of IBPS for recruitment of clerks and officers, the government has decided to entrust IBPS the responsibility to conduct the Common Recruitment Examination for the PSBs.”
IBPS was established in 1984, it is an autonomous body which is responsible for recruitment and internal promotions in banks and financial institutions. For year 2009-10, for the recruitment in PSBs, IBPS conducted written test for around six million candidates at 125 centers across the country.
The Khandelwal committee presented its report in June. In its report the committee had recommended that bankers can design the content of testing, methodology for conducting such tests and also review the existing arrangements. Government is reviewing the full report.
The banks are facing problem in hiring talent, so a need was felt to formulate a program to solve this problem. It is believed the common test will also help in cutting down the recruitment cost and the consumed. Moreover, the jobseeker will also find the proposed selection process convenient as they will not have to take separate tests for different banks.
Before this, the Banking Services Recruitment Board looked after the selection process of bank employees. At that time banks were on the process of massive expansion. In 2002, after the Narasimham Committee recommendation in view of banks rationalizing their branches, this process was done away. With this banks got more autonomy in choosing candidates.
A K Khandelwal committee had recommended the common entrance test which has been accepted by the government. The Indian Banks Association has also accepted a common recruitment program for PSBs which will be conducted by the Institute of Banking Personnel Selection (IBPS).
Earlier in January, Business Standard had reported that IBA is working on the process of a common test for job aspirants in PSBs. The banks are planning to recruit around 34,000 officers and 51,000 clerical staff over the next three years, through a common entrance test program the issue of manpower shortage in state-owned banks will get solved.
The finance ministry said in a media statement, “Taking note of the fact that many PSBs are already utilising the services of IBPS for recruitment of clerks and officers, the government has decided to entrust IBPS the responsibility to conduct the Common Recruitment Examination for the PSBs.”
IBPS was established in 1984, it is an autonomous body which is responsible for recruitment and internal promotions in banks and financial institutions. For year 2009-10, for the recruitment in PSBs, IBPS conducted written test for around six million candidates at 125 centers across the country.
The Khandelwal committee presented its report in June. In its report the committee had recommended that bankers can design the content of testing, methodology for conducting such tests and also review the existing arrangements. Government is reviewing the full report.
The banks are facing problem in hiring talent, so a need was felt to formulate a program to solve this problem. It is believed the common test will also help in cutting down the recruitment cost and the consumed. Moreover, the jobseeker will also find the proposed selection process convenient as they will not have to take separate tests for different banks.
Before this, the Banking Services Recruitment Board looked after the selection process of bank employees. At that time banks were on the process of massive expansion. In 2002, after the Narasimham Committee recommendation in view of banks rationalizing their branches, this process was done away. With this banks got more autonomy in choosing candidates.
Thursday, July 22, 2010
Nasscom says: Companies should start hiring students only during final year
The engineering college students have entered into the seventh semester and most of them expect to get hired during this semester but a large debate is going on when is the right time to hire students. According to Nasscom the IT companies should start hiring only during the final semester or at the end of the seventh semester. However some universities are approaching to Nasscom requesting for them to ask companies to start campus recruitment process.
Recently Thanjavur-based Sastra University wrote a letter to Nasscom in which it has requested them to ask companies to conduct their recruitment during the seventh semester. Sastra says in the seventh semester the university encourages doing internships in various universities, companies and premier research labs, inside and outside India.
The letter from Dr S Vaidhyasubramaniam, Dean (Planning and Development), Sastra reads, "Such students miss the opportunity of attending campus recruitment, as an internship of high quality is a once-in-a-lifetime opportunity... Students are forced to travel repeatedly in the event of not being selected by the first few companies. This will dilute the quality of internship and strain the relationship between the university and internship partners, who feel such frequent interruptions, upset the internship schedule."
But Nasscom is not ready to change its decision. K Purushottaman, regional director of Nasscom says, "It is in the interest of the industry to hire students in as finished' a state as possible. The end of the seventh semester is the best time, since most of the academic curriculum is completed, with just the project in the final semester to go. So companies can make a better assessment of the candidate at that stage."
Some of the IT majors support Nasscom’s stand. Pradeep Bahirwani, VP of Talent Acquisition at Wipro Technologies says, "We hire from the eighth semester onwards from engineering colleges. We feel this is most appropriate as students are fully groomed around that time. Additionally, hiring around the eighth semester matches our demand forecasting schedules." During the current fiscal Wipro will be hiring about 11,000 freshers with 65% of them being from engineering colleges.
T V Mohandas Pai, head of HR at Infosys said, "Early hiring destroys the spirit of education. Students who get jobs in the sixth semester typically show a drop in interest in academics and this is not good for the student, the university or the industry." According to IT industry only about 25% of the students are employable.
Vaidhyasubramaniam argues that a sudden behavioral change in a student who was just involved in studies for seven semesters is an issue concerning his/her fundamental values. "Such students will behave the same way even if the recruitment happens in the eighth semester," he says. But not many agree with his argument.
Sastra says in the eighth semester curriculum, Tata Consultancy Services (TCS) integrates its Initial Learning Program, while in the final semester there is an orientation program conducted by Infosys as part of course work at its Mysore office. Therefore early hiring will be helpful.
Pai says such programs can be conducted even if students are hired at the end of the seventh semester. He says, "Besides, we prefer to hire students as close to the joining dates as possible."
Before economic slowdown, IT companies used to hire students at the end of the sixth semester one year before they graduated but during the financial crisis all over the world many companies were unable to give jobs to the all the students who were given offer letters during campus recruitment. Then most of the companies were also concerned that students are far from industry ready. Thus Nasscom issued instructions that companies should start campus recruitment only at the end of the seventh semester.
The companies also find this right as they have a clearer idea of their recruitment needs. Shankar Srinivasan, chief people officer of Cognizant points out, "We believe it is a win-win situation for all concerned: students, academia and the industry."
Recently Thanjavur-based Sastra University wrote a letter to Nasscom in which it has requested them to ask companies to conduct their recruitment during the seventh semester. Sastra says in the seventh semester the university encourages doing internships in various universities, companies and premier research labs, inside and outside India.
The letter from Dr S Vaidhyasubramaniam, Dean (Planning and Development), Sastra reads, "Such students miss the opportunity of attending campus recruitment, as an internship of high quality is a once-in-a-lifetime opportunity... Students are forced to travel repeatedly in the event of not being selected by the first few companies. This will dilute the quality of internship and strain the relationship between the university and internship partners, who feel such frequent interruptions, upset the internship schedule."
But Nasscom is not ready to change its decision. K Purushottaman, regional director of Nasscom says, "It is in the interest of the industry to hire students in as finished' a state as possible. The end of the seventh semester is the best time, since most of the academic curriculum is completed, with just the project in the final semester to go. So companies can make a better assessment of the candidate at that stage."
Some of the IT majors support Nasscom’s stand. Pradeep Bahirwani, VP of Talent Acquisition at Wipro Technologies says, "We hire from the eighth semester onwards from engineering colleges. We feel this is most appropriate as students are fully groomed around that time. Additionally, hiring around the eighth semester matches our demand forecasting schedules." During the current fiscal Wipro will be hiring about 11,000 freshers with 65% of them being from engineering colleges.
T V Mohandas Pai, head of HR at Infosys said, "Early hiring destroys the spirit of education. Students who get jobs in the sixth semester typically show a drop in interest in academics and this is not good for the student, the university or the industry." According to IT industry only about 25% of the students are employable.
Vaidhyasubramaniam argues that a sudden behavioral change in a student who was just involved in studies for seven semesters is an issue concerning his/her fundamental values. "Such students will behave the same way even if the recruitment happens in the eighth semester," he says. But not many agree with his argument.
Sastra says in the eighth semester curriculum, Tata Consultancy Services (TCS) integrates its Initial Learning Program, while in the final semester there is an orientation program conducted by Infosys as part of course work at its Mysore office. Therefore early hiring will be helpful.
Pai says such programs can be conducted even if students are hired at the end of the seventh semester. He says, "Besides, we prefer to hire students as close to the joining dates as possible."
Before economic slowdown, IT companies used to hire students at the end of the sixth semester one year before they graduated but during the financial crisis all over the world many companies were unable to give jobs to the all the students who were given offer letters during campus recruitment. Then most of the companies were also concerned that students are far from industry ready. Thus Nasscom issued instructions that companies should start campus recruitment only at the end of the seventh semester.
The companies also find this right as they have a clearer idea of their recruitment needs. Shankar Srinivasan, chief people officer of Cognizant points out, "We believe it is a win-win situation for all concerned: students, academia and the industry."
Thursday, July 15, 2010
Banks offering great opportunities to talented youth, hiring professionals
Indian banks are offering great opportunities to the talented youth who have plans to make career in banking sector. Many banks are visiting campus for hiring and many of the students have been offered good jobs in the banks, both in public and private sector banks.
In last couple of years jobs in banking sector have increased as many private and global banks have opened their branches in India. Also public sector banks have expanded their operational areas and increasing their strength manifolds.
The banks have created new posts and will hire professionals for the same. Recently, Oriental Bank of Commerce released the recruitment results for the vacancies of clerks in OBC bank recruitment procedure. Canara bank is holding exam for posts of clerks on coming Sunday. The candidates who will be giving Canara bank exam and have not received admit card can download from the official website of the bank.
Although people working in private sector and multinational companies are earning handsome salaries but still in India government jobs are being preferred more, especially after recession. The government jobs in India offer life long security which is not offered in private sector.
In last couple of years jobs in banking sector have increased as many private and global banks have opened their branches in India. Also public sector banks have expanded their operational areas and increasing their strength manifolds.
The banks have created new posts and will hire professionals for the same. Recently, Oriental Bank of Commerce released the recruitment results for the vacancies of clerks in OBC bank recruitment procedure. Canara bank is holding exam for posts of clerks on coming Sunday. The candidates who will be giving Canara bank exam and have not received admit card can download from the official website of the bank.
Although people working in private sector and multinational companies are earning handsome salaries but still in India government jobs are being preferred more, especially after recession. The government jobs in India offer life long security which is not offered in private sector.
Tuesday, July 6, 2010
LIC will hire 10,000 employees across various cadres
LIC, country’s largest insurance company will be recruiting around 10,000 employees across the various cadres in the current fiscal.
LIC Managing Director A K Dasgupta said, "We are planning to hire a good number of people this year as well. We intend to hire 10,000 people this year across the various cadres."
Last year also LIC had hired same number of people across various cadres but it had also hired lateral for the first time.
He told, out of the total number of people to be hired, around 5,000 development officers will be recruited in line with the growth plan.
He added, the corporation will also hire people in class I cadre, specialized cadre like legal etc.
At present there are about 1,15,000 employees including about 21,000 class-I officers.
LIC is also planning to open its subsidiary in Singapore as a part of its overseas expansion plans.
LIC Managing Director A K Dasgupta said, "We are planning to hire a good number of people this year as well. We intend to hire 10,000 people this year across the various cadres."
Last year also LIC had hired same number of people across various cadres but it had also hired lateral for the first time.
He told, out of the total number of people to be hired, around 5,000 development officers will be recruited in line with the growth plan.
He added, the corporation will also hire people in class I cadre, specialized cadre like legal etc.
At present there are about 1,15,000 employees including about 21,000 class-I officers.
LIC is also planning to open its subsidiary in Singapore as a part of its overseas expansion plans.
Tuesday, June 22, 2010
More than 10,000 students of IIPM got placed in five years
The Indian Institute of Planning and Management (IIPM) has set new benchmarks in B-School placements. In the past five years, more than 10,000 students of IIPM have been place in over 1,500 companies. All the placements were done at campus. IIPM informed, in past three years, more than 250 students have been place internationally.
Since 2006 IIPM has a 100% constant placement record.
In the past two years, from IIPM Delhi most of the placements have been global. In 2008 and 2009, it says, 165 and 55 students were placed globally.
After a long gap, now companies are looking for freshers to put their businesses back on fast track. This year alone, IIPM said 2,480 on-campus hirings have been done and the remaining 140 students are likely to be placed soon.
In 2009 BFSI (banking, financial services and insurance) corporations, the biggest on-campus recruiters did not do any hiring from campuses but this year, they were back with atleast 20% placement offers.
IIPM told leading BFSI companies such as Standard Chartered, HDFC Bank, HSBC, Fidelity, Barclays, India Bulls and India Infoline, and financial consulting companies such as KPMG (Delhi), Goldman Sachs and E&Y this year had offered financial/business research profiles to its students.
This year ICICI visited all IIPM campuses and hired 320 students, Yes Bank who has been largest recruiter at IIM campuses, also visited IIPM, Delhi.
IIPM said, FMCG leaders such as Colgate-Palmolive and leading consumer durables brands such as Whirlpool have also offered opportunities to its students, this year. Other visitors to IIPM campuses were UB Group, Zee Enterprises, Business Octane and JDA Soft. They had offered high packages of Rs7.5 lakh per annum.
IIPM student Amiya Ranjan has been offered a domestic package of Rs20 lakh per annum. This year average all-India packages stood around Rs4.63 lakh. According to institute this year its 37 students have been placed globally. International recruiters were from various fields which included travel & logistics, media, advertising, FMCG and manufacturing.
Since 2006 IIPM has a 100% constant placement record.
In the past two years, from IIPM Delhi most of the placements have been global. In 2008 and 2009, it says, 165 and 55 students were placed globally.
After a long gap, now companies are looking for freshers to put their businesses back on fast track. This year alone, IIPM said 2,480 on-campus hirings have been done and the remaining 140 students are likely to be placed soon.
In 2009 BFSI (banking, financial services and insurance) corporations, the biggest on-campus recruiters did not do any hiring from campuses but this year, they were back with atleast 20% placement offers.
IIPM told leading BFSI companies such as Standard Chartered, HDFC Bank, HSBC, Fidelity, Barclays, India Bulls and India Infoline, and financial consulting companies such as KPMG (Delhi), Goldman Sachs and E&Y this year had offered financial/business research profiles to its students.
This year ICICI visited all IIPM campuses and hired 320 students, Yes Bank who has been largest recruiter at IIM campuses, also visited IIPM, Delhi.
IIPM said, FMCG leaders such as Colgate-Palmolive and leading consumer durables brands such as Whirlpool have also offered opportunities to its students, this year. Other visitors to IIPM campuses were UB Group, Zee Enterprises, Business Octane and JDA Soft. They had offered high packages of Rs7.5 lakh per annum.
IIPM student Amiya Ranjan has been offered a domestic package of Rs20 lakh per annum. This year average all-India packages stood around Rs4.63 lakh. According to institute this year its 37 students have been placed globally. International recruiters were from various fields which included travel & logistics, media, advertising, FMCG and manufacturing.
Friday, June 18, 2010
Three important months for fresh job seekers
Now days, campus recruitments are on full-swing across most colleges in the country. It is good time for fresh job seekers. According to headhunting firm Ma Foi Randstand, this year one third of new jobs in the market are for freshers.
But the freshers have to first analyze in which city they should take up a job. According to reports, this year by end of June, Delhi NCR is likely to add 38,350 jobs Mumbai will be on the second place with 27,650, Chennai rounds off the top three with around 11,900 vacancies
Kolkata will be next with 8,350 new vacancies. IT hubs Bangalore and Hyderabad will add around 6800 and 6200 new jobs, while Pune and Ahmedabad will be adding 5,400 and 3,260 new jobs respectively.
This means around 1,53,564 jobs will be created in the country during the Jan-March quarter and more than 3,47,463 jobs are being created in the current quarter from April to June. From this 75% of jobs will be for experienced ones, the remaining would for freshers.
In the months of April, May and June major portion of hiring is done as most jobs are created during this period every year. In this period over one crore freshers join the job pool every year. In this Delhi is on the first place with large number of jobs for freshers, followed by Ahmedabad and Bangalore.
Sector wise IT-ITes sectors are likely to grow, but neither the IT-ITes, nor the services sectors are going to do most hiring. In the healthcare sector most number of jobs for freshers is getting created with over 46% of new jobs earmarked for freshers.
Then is BFSI sector, will be hiring almost 34% freshers from college. The manufacturing sector will have almost a third of its jobs for freshers. Thus it is a good opportunity for freshers to get a good job.
But the freshers have to first analyze in which city they should take up a job. According to reports, this year by end of June, Delhi NCR is likely to add 38,350 jobs Mumbai will be on the second place with 27,650, Chennai rounds off the top three with around 11,900 vacancies
Kolkata will be next with 8,350 new vacancies. IT hubs Bangalore and Hyderabad will add around 6800 and 6200 new jobs, while Pune and Ahmedabad will be adding 5,400 and 3,260 new jobs respectively.
This means around 1,53,564 jobs will be created in the country during the Jan-March quarter and more than 3,47,463 jobs are being created in the current quarter from April to June. From this 75% of jobs will be for experienced ones, the remaining would for freshers.
In the months of April, May and June major portion of hiring is done as most jobs are created during this period every year. In this period over one crore freshers join the job pool every year. In this Delhi is on the first place with large number of jobs for freshers, followed by Ahmedabad and Bangalore.
Sector wise IT-ITes sectors are likely to grow, but neither the IT-ITes, nor the services sectors are going to do most hiring. In the healthcare sector most number of jobs for freshers is getting created with over 46% of new jobs earmarked for freshers.
Then is BFSI sector, will be hiring almost 34% freshers from college. The manufacturing sector will have almost a third of its jobs for freshers. Thus it is a good opportunity for freshers to get a good job.
Wednesday, June 16, 2010
Dhanlaxmi Bank to hire 500 people for entry, middle and senior management levels
Dhanlaxmi Bank, Thrissur-based lender is planning to expand its employee’s base to 3,800. Thus it will be recruiting 500 people for three levels - entry level, middle and senior management levels.
Manish Kumar, head, human resources and corporate social responsibility told, the bank will be recruiting 500 people in the current financial year. In 2009-10 bank had re-recruited 2,500 people taking the total staff strength to 3,300. In the last fiscal bank opened 66 new branches taking the branch network to 273 with a pan India presence.
Kumar added for the current fiscal year bank has no plans of opening new branches. But it will be expanding its business in venturing into areas like retail asset business and fee-based income vertical.
He told bank has introduced new Performance Management System (PMS) to motivate their employees in improving skills. The PMS is based on a balance score card.
Manish Kumar, head, human resources and corporate social responsibility told, the bank will be recruiting 500 people in the current financial year. In 2009-10 bank had re-recruited 2,500 people taking the total staff strength to 3,300. In the last fiscal bank opened 66 new branches taking the branch network to 273 with a pan India presence.
Kumar added for the current fiscal year bank has no plans of opening new branches. But it will be expanding its business in venturing into areas like retail asset business and fee-based income vertical.
He told bank has introduced new Performance Management System (PMS) to motivate their employees in improving skills. The PMS is based on a balance score card.
Friday, June 4, 2010
SBH plans to recruit 2,000 clerks and 600 supervisors this year
State Bank of Hyderabad (SBH), an associate bank of State Bank of India, is planning to expand its human force by recruiting as many as 2,000 clerical and 600 supervisory staff during the current financial year this was confirmed by a top bank official.
During the launch of SMS Feedback facility the managing director SBH, Renu Challu told media persons that, "This is in addition to the 600 supervisory officers, who cleared tests last year and would be joining us in the next two months."
She informed that from the newly recruited employees around 300 of them will be posted in rural areas that will be responsible for the development of bank’s agricultural loan portfolio.
Challu added bank is planning to open 230 branches this year.
She said, SBH has already applied for five licenses for Uttarakhand and two for Chhattisgarh, is likely to open branches by the end of this year.
The bank has also opened its first-ever currency management branch (CMB) in Hyderabad to sort out soiled and counterfeit notes and make cleaner notes available across the counter.
Challu added in the beginning the CMB service will be linked to 28 branches in Hyderabad and gradually it will be extended to other chest branches across the country in due course.
Meanwhile SBH Gen-X, a savings account has been introduced to target youths between 18 and 30 years of age group.
During the launch of SMS Feedback facility the managing director SBH, Renu Challu told media persons that, "This is in addition to the 600 supervisory officers, who cleared tests last year and would be joining us in the next two months."
She informed that from the newly recruited employees around 300 of them will be posted in rural areas that will be responsible for the development of bank’s agricultural loan portfolio.
Challu added bank is planning to open 230 branches this year.
She said, SBH has already applied for five licenses for Uttarakhand and two for Chhattisgarh, is likely to open branches by the end of this year.
The bank has also opened its first-ever currency management branch (CMB) in Hyderabad to sort out soiled and counterfeit notes and make cleaner notes available across the counter.
Challu added in the beginning the CMB service will be linked to 28 branches in Hyderabad and gradually it will be extended to other chest branches across the country in due course.
Meanwhile SBH Gen-X, a savings account has been introduced to target youths between 18 and 30 years of age group.
Thursday, May 20, 2010
StanChart plans to increase headcount by 2,500 in India
Standard Chartered Bank- a UK-based major global foreign player announced that it is planning to increase its headcount in India by 2,500 people during the current year to 20,000.
The bank is planning to increase up to $750 million through issue of Indian Depository Receipts (IDR) currently it employs 17,500 people in India.
Standard Chartered's India chief executive officer Neeraj Swaroop told reporters that, "We hire people to meet our growth needs. In 2010, we will hire around 2,500 people for India business. The number was similar last year."
At present the bank employs 75,000 people globally. The bank is looking to increase its branch network in the nation and has applied for the same. It is still waiting for approval from the regulatory.
"The number of branches that we can open is driven by the RBI license. We would be opening 100 new ATMs by August this year and take the total number to 350," Swaroop said.
The bank is planning to increase up to $750 million through issue of Indian Depository Receipts (IDR) currently it employs 17,500 people in India.
Standard Chartered's India chief executive officer Neeraj Swaroop told reporters that, "We hire people to meet our growth needs. In 2010, we will hire around 2,500 people for India business. The number was similar last year."
At present the bank employs 75,000 people globally. The bank is looking to increase its branch network in the nation and has applied for the same. It is still waiting for approval from the regulatory.
"The number of branches that we can open is driven by the RBI license. We would be opening 100 new ATMs by August this year and take the total number to 350," Swaroop said.
Monday, May 17, 2010
Barclays bank to offer 140 jobs in India
Barclays, one of Britain's biggest banks will outsource 140 jobs from Northampton, UK, to India.
Although bank will have to follow strict banking regulations and pay heavier taxes levied by Labor government - so far endorsed by the new Conservative-Liberal Democrat coalition — as a result of the global economic storm.
John Varley, Barclays chief executive, in an interview said London will be damaged by imposing taxes on the bank. Barclay is already having operations in India and is on move of expanding operations. It has launched a Non-Resident Indian (NRI) banking service outside India, including Britain.
Barclays who battered the international meltdown better than rivals like Royal Bank of Scotland and Lloyds, is likely to reduce outgoings. Vikki Williams, head of Card Fraud Operations, was quoted as saying, "Clearly there are some cost savings involved, but our main driving force is to create a global centre of excellence in India."
The task of collection of dues will be carried out by determined call centre agent in India, who will call customers in the UK continuously demanding payments.
Although bank will have to follow strict banking regulations and pay heavier taxes levied by Labor government - so far endorsed by the new Conservative-Liberal Democrat coalition — as a result of the global economic storm.
John Varley, Barclays chief executive, in an interview said London will be damaged by imposing taxes on the bank. Barclay is already having operations in India and is on move of expanding operations. It has launched a Non-Resident Indian (NRI) banking service outside India, including Britain.
Barclays who battered the international meltdown better than rivals like Royal Bank of Scotland and Lloyds, is likely to reduce outgoings. Vikki Williams, head of Card Fraud Operations, was quoted as saying, "Clearly there are some cost savings involved, but our main driving force is to create a global centre of excellence in India."
The task of collection of dues will be carried out by determined call centre agent in India, who will call customers in the UK continuously demanding payments.
Wednesday, May 5, 2010
Hiring in IT/BPO is on increase
After a long break the business in India has started showing signs of normalcy, companies are getting projects from foreign clients, therefore the information technology/business process outsourcing (IT/BPO) sector has also speed up its hiring process after a gap of almost of two years.
For instance India’s second-largest software services company, Infosys Technologies will be hiring around 30,000 this financial year. Another India’s largest IT firm, Tata Consultancy Services (TCS), have plans to hire 30,000 (almost 38,000, if one were to include its subsidiares). Then HCL Technologies is planning to hire 5,000 freshers in 2010, compared with the 2,000 it hired in calendar year 2009. In the last quarter, the gross hiring of employees was 7,136, taking the headcount to 58,129.
HCL Tech CFO Anil Chanana said, “We have been doing more of lateral hiring than just freshers. However, going forward, we have decided to rely more on freshers, train them and use them. So, we will be increasingly using freshers in our business.”
Even the mid-size IT/BPO companies have also speed up their hiring process. For instance, Mumbai-based Patni Computers is planning to increase its headcount by 2,500-3,000 employees in 2010 and the normal ratio of engineering to non-engineering graduates is 2:1. Now company is expecting an upswing in the hiring of IMS, BPO and application development.
According to Rajesh Padmanabhan, EVP and Global Head – HR, Patni, “We are anticipating positive hiring, based on our business outlook and we plan to hire 2,500-3,000 employees in 2010. With the economy getting into recovery mode, we will also witness a reduction in bench levels and enhancement in utilization levels this year.”
Nasdaq-listed BPO Company EXL Service is looking for people with at least one year of experience. Although, 10-20 per cent of total hired are the fresh college graduates. The BPO is hiring 200–300 people per month and its headcount was 10,700 as on December 31. A company spokesperson said, “Most of these fresh hires are through direct campus placements. Most of the hiring of people without any experience takes place through campus placement. EXL participates in annual campus placement of a few colleges in Delhi University, IITs and IIMs.”
There is a warning, although the gross numbers of hiring might look good but the net recruitment numbers at both large and mid-size IT firms give a different picture. They are nowhere close to the numbers posted in financial year 2007-08.
For instance, according to software body Nasscom, the IT/BPO sector had hired 3,75,000 (net) employees in FY08. But in FY09, the number fell to 2,26,000, which further came down to 90,000 in FY10 (when the impact of the global recession hit IT companies the most).
Whereas for FY11, Nasscom have predicted a net hiring in the IT/BPO sector to touch 1,50,000. It has not raised these figures. Sangeeta Gupta, Vice President, Nasscom said, “We are hopeful the numbers will go up, but it is too early to predict. We are yet to see an immediate impact of hiring up tick among the mid-cap firms.”
“While the IT industry is hiring, these numbers are not comparable to 2007. This is also evident in the salary hikes announced so far. While there is a hike, it is more to do with retaining the talent within,” explains Rajesh AR, VP, TeamLease Services.
In fact increase in hiring means a revival of the sector, as addition of one employee to the sector creates four more indirect jobs. Thus, the multiplier effect is big, explains Alok Shende, principal analyst and founder-director of consulting firm Ascentius. But this hiring cannot be considered close to the historic peak. Moreover, the net wages have reduced as the entry-level wages are low, says Shende.
According to Rajesh of TeamLease the volume of hiring is at present restricted to the larger IT companies, who have been able to win large deals. He says, “We are yet to see a hiring uptick among the mid-cap firms. Besides, the hiring this time reflects the kind of work these firms are attracting. It is no more about body-shopping work and hence most of the hiring we have is for mid-level managers with four years and above experience.”
On the other hand V Suresh, Business Head, Naukri says the hiring levels cannot be compared to 2007. Even the salary hikes are not up to the level of 2007. Apart from the bench strength (employees without project work) among the firms is very low). But utilization across firms has touched a high. Suresh says, “But, yes, the momentum is positive. Even for us, the homepage inventory, mailer, pop-ins and logins have increased. These are the activities that firms conduct on our site to attract talent.”
For instance India’s second-largest software services company, Infosys Technologies will be hiring around 30,000 this financial year. Another India’s largest IT firm, Tata Consultancy Services (TCS), have plans to hire 30,000 (almost 38,000, if one were to include its subsidiares). Then HCL Technologies is planning to hire 5,000 freshers in 2010, compared with the 2,000 it hired in calendar year 2009. In the last quarter, the gross hiring of employees was 7,136, taking the headcount to 58,129.
HCL Tech CFO Anil Chanana said, “We have been doing more of lateral hiring than just freshers. However, going forward, we have decided to rely more on freshers, train them and use them. So, we will be increasingly using freshers in our business.”
Even the mid-size IT/BPO companies have also speed up their hiring process. For instance, Mumbai-based Patni Computers is planning to increase its headcount by 2,500-3,000 employees in 2010 and the normal ratio of engineering to non-engineering graduates is 2:1. Now company is expecting an upswing in the hiring of IMS, BPO and application development.
According to Rajesh Padmanabhan, EVP and Global Head – HR, Patni, “We are anticipating positive hiring, based on our business outlook and we plan to hire 2,500-3,000 employees in 2010. With the economy getting into recovery mode, we will also witness a reduction in bench levels and enhancement in utilization levels this year.”
Nasdaq-listed BPO Company EXL Service is looking for people with at least one year of experience. Although, 10-20 per cent of total hired are the fresh college graduates. The BPO is hiring 200–300 people per month and its headcount was 10,700 as on December 31. A company spokesperson said, “Most of these fresh hires are through direct campus placements. Most of the hiring of people without any experience takes place through campus placement. EXL participates in annual campus placement of a few colleges in Delhi University, IITs and IIMs.”
There is a warning, although the gross numbers of hiring might look good but the net recruitment numbers at both large and mid-size IT firms give a different picture. They are nowhere close to the numbers posted in financial year 2007-08.
For instance, according to software body Nasscom, the IT/BPO sector had hired 3,75,000 (net) employees in FY08. But in FY09, the number fell to 2,26,000, which further came down to 90,000 in FY10 (when the impact of the global recession hit IT companies the most).
Whereas for FY11, Nasscom have predicted a net hiring in the IT/BPO sector to touch 1,50,000. It has not raised these figures. Sangeeta Gupta, Vice President, Nasscom said, “We are hopeful the numbers will go up, but it is too early to predict. We are yet to see an immediate impact of hiring up tick among the mid-cap firms.”
“While the IT industry is hiring, these numbers are not comparable to 2007. This is also evident in the salary hikes announced so far. While there is a hike, it is more to do with retaining the talent within,” explains Rajesh AR, VP, TeamLease Services.
In fact increase in hiring means a revival of the sector, as addition of one employee to the sector creates four more indirect jobs. Thus, the multiplier effect is big, explains Alok Shende, principal analyst and founder-director of consulting firm Ascentius. But this hiring cannot be considered close to the historic peak. Moreover, the net wages have reduced as the entry-level wages are low, says Shende.
According to Rajesh of TeamLease the volume of hiring is at present restricted to the larger IT companies, who have been able to win large deals. He says, “We are yet to see a hiring uptick among the mid-cap firms. Besides, the hiring this time reflects the kind of work these firms are attracting. It is no more about body-shopping work and hence most of the hiring we have is for mid-level managers with four years and above experience.”
On the other hand V Suresh, Business Head, Naukri says the hiring levels cannot be compared to 2007. Even the salary hikes are not up to the level of 2007. Apart from the bench strength (employees without project work) among the firms is very low). But utilization across firms has touched a high. Suresh says, “But, yes, the momentum is positive. Even for us, the homepage inventory, mailer, pop-ins and logins have increased. These are the activities that firms conduct on our site to attract talent.”
Tuesday, January 19, 2010
TCS hiring lateral, to increasing fresher hiring in Jan
India's largest IT services company TCS, CEO says his company will be increasing its hiring process, give hike to employees, as well as increase capital expenditure in fiscal 2010-11. These steps can bring improvements in IT industry.
Mr N Chandrasekaran, Chief Executive Officer and Managing Director of Tata Consultancy Services, in an interview to told Business Line, “We are likely to hire more people next year ( vis-à-vis the current fiscal) and we have also increased the quantum of work done offshore. This means we have to create more facilities going forward.”
The group chairman, Mr Ratan Tata, at the company's annual general meeting last year while had said in the year 2010-11 capex of the $6-billion company will possibly increase than the Rs 1,300 crore earmarked for the current year.
But Mr Chandrasekaran did not revealed the exact numbers as the company is still working on its plans for the next fiscal, ahead of its third quarterly results that are to be announced on January 15.
Towards the end of the year the IT spend has been able to recovery from the crisis which has been the driving force for TCS to increase its hiring plans for next year and it is being led by companies in the banking, financial sectors across geographies.
Mr. Chandrasekaran said, the companies from sectors such as manufacturing, hi-tech, telecom and manufacturing are still ‘not out of the woods', then also there are enough indications of things getting on to track next year. He added, “I believe that during the course of the year these sectors will turn positive and deliver growth. The good news is the decline (in these sectors) has stopped.”
TCS is hopeful that 2010 will be better year for the company and for the IT industry as a whole. Also, the growth will be mainly volume-driven.
Mr Chandrasekaran said, “Short term, there may not be a pricing uptake; but I do not expect a (pricing) decline either. As demand picks up, pricing power will return.”
Another, good news is that there has been improvement in the discretionary or optional technology spending among corporations, particularly in the BFSI (banking, financial services and insurance) space. He stated, TCS Bancs (its financial products suite), which is “positioned against discretionary budgets”, has signed deals across the world, and has been able to secure deals even in geographies such as continental Europe that are yet to see an uptake.
He added, “Fundamentally, there is lot more clarity and there is a systematic way of approaching business from the customers' end vis-à-vis last year. We just hope that Europe as geography also starts showing signs of recovery.”
From January, TCS will be visiting campuses for recruitment for 2010-11. For the current fiscal company has already given 24,888 offer letters for campus recruits, quite a good number, who will be joining in a spread out manner through the fiscal.
Previously, TCS had announced that it had almost frozen lateral hiring for the current fiscal this also, seems to change and the company is in the hiring process of laterals or experienced professionals.
Mr Chandrasekaran pointed out, TCS this year did not give hike in salaries, and is hopeful to be more lenient next year. Internal discussions are being held in the company to see how much wage hikes can be implemented next year.
However by the end of quarter September 2009, TCS had registered a 29 per cent rise in net profit at Rs 1,642 crore against Rs 1,271 crore in the corresponding year ago period.
Mr N Chandrasekaran, Chief Executive Officer and Managing Director of Tata Consultancy Services, in an interview to told Business Line, “We are likely to hire more people next year ( vis-à-vis the current fiscal) and we have also increased the quantum of work done offshore. This means we have to create more facilities going forward.”
The group chairman, Mr Ratan Tata, at the company's annual general meeting last year while had said in the year 2010-11 capex of the $6-billion company will possibly increase than the Rs 1,300 crore earmarked for the current year.
But Mr Chandrasekaran did not revealed the exact numbers as the company is still working on its plans for the next fiscal, ahead of its third quarterly results that are to be announced on January 15.
Towards the end of the year the IT spend has been able to recovery from the crisis which has been the driving force for TCS to increase its hiring plans for next year and it is being led by companies in the banking, financial sectors across geographies.
Mr. Chandrasekaran said, the companies from sectors such as manufacturing, hi-tech, telecom and manufacturing are still ‘not out of the woods', then also there are enough indications of things getting on to track next year. He added, “I believe that during the course of the year these sectors will turn positive and deliver growth. The good news is the decline (in these sectors) has stopped.”
TCS is hopeful that 2010 will be better year for the company and for the IT industry as a whole. Also, the growth will be mainly volume-driven.
Mr Chandrasekaran said, “Short term, there may not be a pricing uptake; but I do not expect a (pricing) decline either. As demand picks up, pricing power will return.”
Another, good news is that there has been improvement in the discretionary or optional technology spending among corporations, particularly in the BFSI (banking, financial services and insurance) space. He stated, TCS Bancs (its financial products suite), which is “positioned against discretionary budgets”, has signed deals across the world, and has been able to secure deals even in geographies such as continental Europe that are yet to see an uptake.
He added, “Fundamentally, there is lot more clarity and there is a systematic way of approaching business from the customers' end vis-à-vis last year. We just hope that Europe as geography also starts showing signs of recovery.”
From January, TCS will be visiting campuses for recruitment for 2010-11. For the current fiscal company has already given 24,888 offer letters for campus recruits, quite a good number, who will be joining in a spread out manner through the fiscal.
Previously, TCS had announced that it had almost frozen lateral hiring for the current fiscal this also, seems to change and the company is in the hiring process of laterals or experienced professionals.
Mr Chandrasekaran pointed out, TCS this year did not give hike in salaries, and is hopeful to be more lenient next year. Internal discussions are being held in the company to see how much wage hikes can be implemented next year.
However by the end of quarter September 2009, TCS had registered a 29 per cent rise in net profit at Rs 1,642 crore against Rs 1,271 crore in the corresponding year ago period.
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