Prospect of New Banks Stirs Up a Dull Hiring Market

Executives at head hunters Egon Zender, Heidrick & Struggles, Randstad and Vito India are suddenly on their toes in a dull hiring market as bank license aspirants such as RIL, L&T Finance Holdings, Religare, and the Aditya Birla Group throng them to snatch the industry’s talent cream.
Banking experts at these hiring companies are burning midnight oil to identify candidates, from prospective chief executives to compliance officers, to compile a list that would impress the regulator and brighten applicants’ chances. Different headhunting firms are advising clients on their different talent needs and no mandates have been awarded yet. “The new applicants are looking at hiring people with credible track record and who can build a strong operating model and who have a strong corporate, rural, retail and SME banking background,” says Puneet Singh, partner, financial services and head-North India at global executive search firm Heidrick and Struggles. Singh’s organisation is advising some of the prospective top applicants on their talent needs.
They are likely to short list candidates from many banks including HDFC Bank, ICICI Bank, notwithstanding the sting operation, and Citigroup and State Bank of India. The candidates will be picked not just based on their years of experience, but will also need to have achieved success in building profitable businesses without compromising regulatory guidelines.
“They are interested in top guys from consulting firms who are into the banking and financial services sector, banks and financial services institutions,” says Aditya Narayan Mishra, president, India unit at the Dutch head-hunter Randstad Holding NV. There is a new buoyancy in the employment market and the Indian business community with the RBI spelling out guidelines for new bank licenses, ending a decade of false starts. Former Infosys chief financial officer Mohandas Pai, and L & T have thrown their hats into the ring. “It has been a long-held dream to start a bank,” said micro financier Ramesh Ramanathan, who plans to partner Pai in seeking a license. “The clock started to tick when the final guidelines came out.” Some of the publicly known aspirants for the new banking licences include Aditya Birla Financial Services, Reliance Industries, Reliance Capital, Shriram Transport, Piramal Enterprises, Mahindra Financial Services, Bajaj Finserv, L&T Finance, Tata Capital, Religare, Cholamandalam Finance, Edelweiss, Videocon and IDFC.
The financial services sector, which has been at the receiving end of the Indian slowdown, is seeing some recovery. Staffing company Manpower’s Employment Outlook Survey showed a 19 percentage point slump in companies that plan to hire in the second quarter of 2013 to 27%, down from 45% a year ago. State-run banks are hiring more than 55,000 candidates in the next few months. In fact, the employment market has been so bad that there were more than 17 lakh applications for just about 1,500 officer jobs at the State Bank of India. Even among the new banks, nonbanking finance companies such as L & T Finance and Shriram City Union, may be better placed with a substantial staff familiar with credit operations.

Source: Times of India

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How to overcome communication barriers at work

In office we come across people with whom we have to work to get things done. Our ability to communicate with clients, customers, subordinates, peers, and superiors can either enhance our effectiveness or sabotage us. In an office every individual puts an effort over a period of time in building influential relationships. Communicating effectively and efficiently can help build a good dynamic relationship with your peers, subordinates and superiors. Studies have shown that the top and middle level managers typically devote 60 to 80 per cent of their total working hours to communicating.

The principal barriers to effective communication are: noise, poor feedback, selection of inappropriate media, a wrong mental attitude, insufficient or lack of attention to work selection, delay in message transmittal, physical separation of the sender and receiver, and lack of empathy or a good relationship between the sender and receiver.

Below Q&A session are answered by Amit Bansal, CEO-PurpleLeap

hanji asked, hi Amit Ji,Can you please suggest some good books to increase proficiency in English? Thanks!!

Amit Bansal answers, 1. Improve your communication skills by Allan Barker 2. Write better read better- readers digest 3. English Grammar by Thomson and Martinet 4. You can also read simple fiction or non- fiction novels if you don;t like heavy reading.


Jithendra asked, Amit Ji, I feel i am good listner but bad at communication. specially worried whether other will take in right perspective, or what i speak makes sense, or the thing which i would speak might already been known to other person. Kindly Help
Amit Bansal answers, First of all be positive in your approach and outlook. We should not assume that the others will perceive us wrong. They can get it right as well. To improve your communication other than reading ( grammar and vocab related books) and watching English news channels most important thing is to practice.Speak slowly and if you think someone has misunderstood clarify the point. If someone already knows what you said, there is no harm done.Don’t worry too much.


Rakesh asked, How to improve on business communication front?
Amit Bansal answers, Business communication whether written or verbal has to be crisp , concise and simple. 1. It is always a good idea to have a clear topic of conversation or discussion. 2. language issues can be delt with training. 3. Is is important to encourage listening skills rather than just talking. 4. Written communication pieces should be proof read for grammar and spelling errors. 5. Going slow when talking to someone with foreign accent is another tip. 6.It is good idea to use simple verbiage. 7. Documenting is another way to make ensure you have the missed pieces.


siva asked, I tried to watch movies with subtitles. but ,still my listening skills are not good.
Amit Bansal answers, Try watching a short English film with subtitles and if you don’t understand it in one go, watch it again. Try reading simple books first and use the language you learn while talking. You can also join some communication workshops .


divya asked, how can i communicate with people in office who spoke very worst against me by which i was hurt?
Amit Bansal answers, There are only two ways to resolve such things. One is to simply ignore such people. Second is to talk to them and discuss the issue. This can resolve any misunderstandings. If you feel uncomfortable talking to them alone, involve your manager or any unbiased person who has some influence as a witness.


krishna asked, How to improve the written skills? Can you please suggest me in this mattere
Amit Bansal answers, Language can always be improved by reading and speaking. While writing we have an option to run a grammar and a spell check before sending any document. This will help you to improve and proof read your document.


priya asked, Hi Amit, I am working as a senior manager in a reputed MNC. I joined this MNC some time back because my ex boss is in this org and we have a good connect. But few months back our org appointed a senior person who is now heading that business. My boss doesn’t get along well with this new person who is his boss. Because I report to my boss this new head doesn’t support me. He feels that I am not in his team. Kindly suggest different ways to handle this situation.
Amit Bansal answers, Again a very sensitive situation and should be handled carefully. Sometimes even at such senior levels people do carry a huge ego. Your boss might not get along with his boss for some reasons of his own but you are a different person. If you think you can gel well with your bosses boss without compromising on anything that you hold important than, there is nothing wrong in it. For examples: Sometimes we are friends with 2 enemies and equally good friends but the other two people should be mature enough to understand that. You can only be accountable for your behaviour , not that senior person’s. If all this worries you talk it out with him and explain that his work relationship with your boss is a separate issue and should not affect yours. Hope this essay helps in some way.:)


kumar asked, Am weak in english grammar how to improve writing & speaking
Amit Bansal answers, Few tips: 1. Communication related training or workshops. 2. Reading books on grammar and vocab. 3. Most importantly speaking in English as much as possible. 4. Watching movies with subtitles also help a lot.


PP asked, Whenever I do some good thing,my boss takes credit for that and he gives the pie of credit to his pet person,eventhough he is not involved.How can I solve this problem ?
Amit Bansal answers, Situations like this are very sensitive. It is always a good idea to communicate about such crucial projects on an email so that you have a record of all the good work you have done. Even if someone else takes credit for your work, that doesnt mean they know the work. They will not be able to do it themselves but you can. Your knowledge and experience will anyway show in the way you work. Anyone who copies the work or takes crdit wont be able to actually do it however you can. That’s your victory.


PP asked, How to please my seniors by communicating ?
Amit Bansal answers, Wel, most people like courteous and polite employees. By being a good listener and positive in communication, i believe most of the communication related problems can be avoided and congenial work enviornment can be created.


divya asked, how can i communicate with people in office who always gossips about me?
Amit Bansal answers, There are people who like to waste their time in idle gossips. You just be indifferent to them and continue being polite. As long as it doesn’t affect your work and performance, there is nothing to worry about.


hoggs asked, Hi Amitji. What needs to be done if a team member is throwing lot of attitudes and egos
Amit Bansal answers, Well, you will for sure come across such people every where you go. The most important thing is to not let their attitude affect you. Ignorning them is always the best approach however, if it affects you a lot, speak to them and discuss it out. Involve a senior management person as a witness to this conversation to avoid any misunderstandings.


Muthu asked, In conf call/Meeting it’s difficult to understand few peolpe prounnciation ..How to overcome this problem?
Amit Bansal answers, This is a very common situation that we face. Few tips are: 1. Hold the con call in a quiet room with no extrnal disturbance. 2. Ask the people on the call to speak slowly. 3. Make sure the equipment is working. 4. Take notes and exchange the minutes after the call to make sure nothing is missed. 5. There might be people who may not be good with the language, and may need training.


Satish asked, any specific news paper, you will recommend which can help in improving communication?
Amit Bansal answers, reading any English news paper can be helpful however, you should target the letters to the editor columns in HT, Learning English section in ‘ The Hindu’. Look for intersting articles in foreign papers like Newyork times that will improve your knowledge and language.


virendra asked, Sir, I’m working in new company as executive. Been reading books on improving my english, but still it is not better. Any other practical solution to improve communication
Amit Bansal answers, Reading ofcourse is a good idea however, things improve only when we practice what we read. Try conversing in English at work and with friends. Ask them to correct you when you go wrong and take the feedback positively. Watching BBC and English documentaries with subtitles is also helpful as it will tell you both the accent and the words.


Baby asked, how to talk with arrogant people at work?
Amit Bansal answers, You will come across all kinds of people at workplace. You should not let anyone’s bad behaviour affect you. If it is impacting you in anyway there are always solutions to resolve such issues like discussing it out on a one to one basis , simply ignoring them also works at times but if nothing else helps, then seek help of the senior management.


amul asked, my englis very pur. very little while speaking with colleagues. how to impruuv?
Amit Bansal answers, There are workshops on improving language and accent. Apart from that one should develop the habit of reading and talking in English as it is a global language.


ankit asked, Hi Amit, How can I improve my communication skills?
Amit Bansal answers, There are a lot of things that can be done to improve one’s communication skills. 1. Reading books. 2. If someone has accent or language issues, there are trainings to overcome that. 3. I also believe to be a good communicator one needs to be a good listener and free of any biases or prejudices. 4. Open communication is another way to make communication effective. 5. Main thing is to practice the above consistently.


aaa asked, sir, how to deal with difficult bosses who are bad with their communications?
Amit Bansal answers, The first step to effective communication is to give others benifit of doubt and by not taking everything they say negatively. Couple of things that help in office scenarios are : 1. Getting into a one on one with your boss and clarifying the concerns to avoid any misunderstandings. 2. Making sure any conversation that is important is documented on an email etc.

Source: http://www.rediff.com

Chat Date: Feb 27, 2013

Freshers ‘hired’ by HCL Tech stage protests across country

Fresh engineering graduates hired by India’s fourth largest information technology firm,HCL Technologies, staged a protest in front of the company’s offices in Noida, Chennai, Bangalore, Pune and Hyderabad on Monday. They demanded that the company convert the offers to actual jobs.

These engineers were hired by the company in September 2011 and given Letters of Intent (LoI) to join the company in few months, but more than a year later, they are still waiting for the joining date.

Some 80 engineers gathered in front of HCL Tech’s office in Noida Sector 3 where the top brass of the company sits, including Vice-Chairman and Joint Managing Director Vineet Nayar and Chief Executive Officer Anant Gupta.

For the Noida protest, freshers came from colleges HCL had visited in August 2011 and made placement offers, including Maharaja Surajmal Institute of Technology, Amity, Maharaja Agrasen Institute of Technology, GB Pant Engineering College and Guru Tegh Bahadur Institute of Technology.

According to students coordinating the protests, freshers from colleges like Gandhi Institute of Technology and Management (Hyderabad), Andhra University, Maharashtra Institute of Technology (Pune), Vellore Institute of Technology (Tamil Nadu), and Sastra University (Tamil Nadu) protested at the gates of various offices of the company.

“As soon as we gathered to protest in front of the HCL office, we were called in by some senior officials, who asked us to sit for four hours in the auditorium. We asked for clarity on joining, but the officials kept repeating, ‘we will let you know by August’,” Piyush Khandelwal, one of the protesters, told Business Line.

He said the freshers were also given the option to join HCL Infrastructure instead of HCL Tech (for which they got the LoIs), but at a lesser salary. Business Line had written about the issue in early February.

“The company asked us to join for a Rs 2.75 lakh a year salary, which is lower than the Rs 3.25 lakh offered during campus recruitment. Also, we have been asked to take an entrance test afresh for joining HCL Infrastructure,” he said.

However, the company said it is an option offered to the hired students, who can join the company immediately as the vertical has vacant positions. And, even if they fail the test, the LoI will still hold for the HCL Tech vertical and they can join the company once positions get created, a company official said.

“We have openings for around 400 people there and few may open up soon. We have asked these freshers to join us there at the same positions as they were offered in the LoI (as Graduate Engineer Trainee),” Nitin Pande, Vice-President – HR, HCL Technologies, told Business Line.

He said the company will be able to decide on taking in more candidates by August and will decide on a timeline to on-board these freshers as, by then, HCL would have finished its business planning.

But the unemployed freshers were furious over the delay and demanded to know why the company had given the LoIs if it did not plan to on-board them.

“On one hand, the company is showing positive results quarter-on-quarter, why are they doing such things. We just want clarity just like other companies have done. Infosys, which had hired our friends during same time has at least given them the assurance and joining dates of early 2014,” said one of the protesters requesting anonymity.

“We are not even asking for salary for the first three months, as we want to work with this company and that too in HCL Tech, not HCL Infrastructure. We were hired as Software Engineers and in Infrastructure , it is like a BPO job, which we can’t do and lose our career,” said Anshul from Agrasen Institute of Technology.

The engineers and students shouted slogans against the company and said they were ready to go on a hunger strike from Tuesday, should HCL Tech hold back information about the joining date.

The company called in the police which asked the protestors to meet the District Magistrate.

Source:www.thehindubusinessline.com

Youth power is India’s biggest asset

First, it was President Pranab Mukherjee. Then Railway Minister P.K. Bansal followed. Now, it is the turn of the Government’s Chief Economist Raghuram Rajan to doff his hat to ‘youth’.

Amidst a series of firsts – Pranab Mukherjee’s Presidential address to both houses of Parliament was his first, while the Railway Budget was Bansal’s first and this year’s Economic Survey is Rajan’s first – the Survey too, has scored a first with a chapter titled, ‘Seizing the Demographic Dividend.’

“The future holds good promise for India provided we can seize the demographic dividend, as nearly half the additions to the Indian labour force over the period 2011-30 will be in the age group of 30-49 years,” said the Survey. Also, productive jobs are vital for growth and a good job is also the best form of inclusion, it added.

It said that since more than half of population depends on agriculture but the experience of other countries suggests that the number of people dependent on agriculture will have to shrink if per capita incomes in agriculture are to go up substantially.

“While industry is creating jobs, too many such jobs are low-productivity, non-contractual jobs in the unorganised sector, offering low incomes, little protection, and no benefits. Service jobs are relatively high productivity, but employment growth in services has been slow in recent years,” it explained.

The Survey felt that the challenge is to create the conditions for faster growth of productive jobs outside of agriculture, especially in organised manufacturing and in services, even while improving productivity in agriculture. The benefit of rising to the challenge is decades of strong inclusive growth, it argued.

The Survey expressed concern over the inability of service sector to create enough jobs. It said that in addition to labour regulations, the lack of properly educated and skilled work force was also a factor. Suitable higher education is important for high-end services such as information technology, software development and finance, it suggested.

“Under an assumption of unchanged policies and parameters, even if India’s share of employment in agriculture declines over the next decade as China’s did at a similar stage of development, and even if more youth enter the labour force as we reap the demographic dividend, India may be able to place 99.5 per cent of the labour force in jobs by 2020. This suggests little cause for alarm,” the survey said.

Source: www.thehindubusinessline.com