S2 Related News
1. Business Standard
Place female employees near their family, Finance Ministry tells PSBs
August 18, 2014
Anita Sarage, a 48 year-old employee at a large public sector bank, is already celebrating. Sarage, who was recently given a promotion and shifted to another location against her wishes, is now hopeful that she will be able to stay back with her husband and child in the same city.
The ministry has said that as per representations received by them, when female employees (married or unmarried) are transferred/placed away from their family, they face genuine hardship.
Keeping this in view, the ministry has asked all public sector banks to accommodate their placement/transfer requests as far as possible.
The ministry said that the bank could also consider to re-locate them to a location where their family is based.
The banks have been told to frame a policy on the subject with the approval of their Board and take immediate action for implementation and compliance.
Most banks are in the process of assessing the impact of this communication from the finance ministry. They said that they will fine tune policies to suit their circumstances. The directive from ministry is expected to be be discussed at the industry body platform (Indian Banks' Association) too.
Bank officials said that the communication from the government cannot be implemented independently. There are other aspects including stint in rural areas and orientation in various functions that have a bearing on the placement decisions.
HR officials pointed out that in public sector banks, employees in posts of deputy general manager and above do not quit since they are likely candidates for the top management team. Hence, unless it is mandated, such employees have to continue to operate from whatever location the bank wants them to.
Rituparna Chakraborty, Co-Founder & Senior Vice President of TeamLease Services explained that in corporate India, most organisations accommodate transfer requests by female employees. She said that since public sector banks have a large presence, this mandate should not be difficult to implement.
"The only criteria is whether there is a role for that similar function in the other location. In departments like marketing, corporate communication and human resources, physical presence is not important. Companies do not want to let go of trained resources and high performers. So if they are not able to immediately give them an opportunity to relocate, they could be given a deferred date," she said.
The head of human resources at a large public sector bank said banks already have placement policies. With large number of females working across levels, banks are supportive, especially in posting.
At senior levels, the number of positions available are limited so it becomes quite a challenge to accommodate a person, pointed out a senior executive with other public sector bank.
Sunil Goel, director of human resources firm GlobalHunt said that in private sector banks, diversity is a large area of focus and their operations are centralised. Hence, location does not make a difference and in a bid to retain employees, they consider the requests usually.
He added that public sector banks, which have deficient resources, will be able to fill the gaps by implementing the ministry circular. However, he believed that considering the hierarchy structure in these banks, implementation could be a little difficult.
At this juncture, it is still not clear whether there would be any caveats attached to the implementation. In corporate India, if an employee is transferred to another location, they are some changes in the salary structure if they shift to a location which has a different standard of living. However, salary changes are usually implemented during the appraisal cycles and not in the middle of the year.
2. Economic Times
Pre-placement offers score high at top B-schools with a revival in job market
Aug 9, 2014
MUMBAI: Strong indications of a turnaround in the economy coupled with a revival in the job market have fired up pre-placement offers (PPOs) at the country's top business schools.
Companies such as McKinsey & Co, The Boston Consulting Group, PepsiCo, AT Kearney, WiproBSE 0.81 %, HULBSE 0.61 %, Vodafone and Philips India have rolled out pre-placement offers, not just at the Indian Institutes of Management, but also at campuses such as XLRI; Xavier Institute of Management (XIM), Bhubaneswar; Management Development Institute (MDI), Gurgaon, and Narsee Monjee Institute of Management Studies (NMIMS), all of which are witnessing a surge in numbers by 20-100% compared with the year earlier period. XLRI Jamshedpur has already received 25 PPOs and 15 PPIs (preplacement interviews) this year, a 38% increase over the same period last year.
Situation Equally Upbeat at IIMs
The total number of PPOs the institute got last year was 79. At MDI Gurgaon, the number of PPOs has more than doubled to 16 till now, compared with seven in early-August last year
"The positive sentiment in the economy and better outlook moving forward has increased the probability of companies expanding. As a result, companies are more inclined towards releasing PPOs, enabling the management to make faster decisions regarding the same while ensuring a better number in terms of PPOs," says Kanwal Kapil, chairperson, placements, MDI.
XIM Bhubaneswar's students have already bagged nearly one-third of last year's total number of PPOs. The B-school expects the overall number to increase by at least 20% compared with last year. NMIMS on its part has already received 15 offers from seven companies. "We are expecting an average increase in salaries by 10-15%," said Rajiv Mishra, chairperson, placement, XLRI.
The situation is equally upbeat at the IIMs. According to a placement team official, IIMIndore has already notched up 65 pre-placement offers, more than the 61 PPOs students accepted in the whole of last year. IIM-Kozhikode has received 24 PPOs so far from such recruiters as Aditya Birla Group, Deutsche Bank, Godrej, KPMG, Hindustan Unilever, PepsiCo, Tata Administrative Services, Reliance and Vodafone.
IIM-Calcutta has seen a total of 58 PPOs and 20 PPIs so far compared with 47 PPOs and 11 PPIs at the same time last year.
The newer IIMs are holding their own as well. IIM-Raipur already has 12 PPOs and three PPIs in hand, compared with five PPOs in the whole of last year. "We are expecting nearly 10% of the batch of 152 students to get a PPO/PPI this year as compared to less than 5% students who got them last year," said Argha Chatterjee, placement officer, IIM-Rohtak.
Based on offers received during summer placements, which usually take place at Bschools during November, students intern with companies during April-May the following year. End-June onwards, companies start rolling out PPOs to students they want to hire though the bulk of the offers comes in only around September-October.
India Inc promises 10 lakh new jobs, up to 40% hike in 2015
PTI Jan 2, 2015.
NEW DELHI: It may be a bumper new year for the job market, with India Inc planning to create close to 10 lakh new jobs and dole out pay hikes of up to 40 per cent for best performers in 2015.
The average salary increments may also be higher in the range of 15-20 per cent, as against 10-12 per cent across various sectors during 2014. New-age sectors like e-commerce are likely to see relatively higher pay hikes.
3. PM Narendra Modi pitches for skill development (Jun 8, 2014 - Uploaded by ABP NEWS)