India should emerge as the 'human resource capital' of the world as China has become a global 'manufacturing factory'.
The human resource business process outsourcing revenue will reach $46 billion in 2003, an 18 per cent increase over $39 billion in the previous year, according to a Gartner report.
In India, Mumbai has emerged as the most expensive city for expatriates and was ranked 118 in the Index. Last year, Mumbai was ranked 114th on the list.
Global HR services firm Mercer's survey of 214 cities worldwide has ranked Tokyo as the most expensive, while Karachi is the least costly place for expatriates.
In the annual Best Companies for Leadership Study by the global HR consulting firm, the Tata group shared the limelight with other global companies like Procter & Gamble, IBM, Coca-Cola and Unilever.
HR professionals are today looked upon to provide strategic business partnership and play key roles in developing better business leaders and shaping world-class organisations. Here are five key trends prevailing in the human resource space today.
Global HR professionals working in the financial services industry have pinpointed pay issues as the primary focus of their operations, according them higher priority than talent management and employee engagement, according to a survey by Towers Watson.
Indian companies have been ranked the highest as compared to their global peers, when it comes to employees confidence and effective leadership in the firms, says a latest study.
Reveals study by a leading global HR solution provider.
The announcement comes in the wake of outsourcing and the ensuing flight of jobs to cheap labour countries like India becoming a contentious issue in the developed world.
Led by engineering services sector, the projected jump of 12.9 per cent in salaries for this year is higher than the actual increase of 11.7 per cent seen in 2010.
According to Korn Ferry Global Salary Forecast, India's salary growth for 2020 stood at 9.2 per cent. down from 10 per cent last year, while real-wage after adjusting inflation may remain constant at 5 per cent in 2020.
With economic slowdown casting a shadow on profits, companies may increasingly turn towards offering flexible benefit programmes to employees, among other measures, for managing costs and attracting the right talent, a survey by global HR consultancy Mercer says.
Indians enjoy the highest number of holidays in a year but they figure at bottom when it comes to the number of paid leaves, says a survey.
At a time when the global job scenario is gloomy, India Inc is expected to increase salaries up to eight per cent this year with infrastructure and FMCG sectors likely to see the maximum hikes, global HR consultancy Mercer says.
With hiring activity in the country expected to continue unabated, about 6-10 per cent of the total workforce of the firms may consist of new employees by the year-end, global HR consultancy Mercer has said.
Indians have emerged at the top when it comes to being passionate about their jobs, with a full 72 per cent employees surveyed being confident about their personal growth and future of their companies, a survey has said.
India Inc is expected to witness an average eight per cent salary increase this year and as much as 50 per cent of companies have strong hiring plans for the next three months.
In the light of the current economic slowdown, what raise do you expect?
India Inc may have been spiralling salaries in the recent years, but not anymore as double-digit pay hikes can well be a 'thing of the past', thanks to the financial crunch forcing corporates to embark on cost-cutting spree.
According to a study by global HR consultancy Mercer, even the largest companies in the country, whether public or private, could do more to help secure adequate retirement benefits for their workforce. In both public and private sector firms the basic salary is 28-30 per cent of the total salary. The basic salary for top management officials in private sector hovers between 25 and 40 per cent, while for other employees it falls in the range of 25 per cent to 30 per cent.
Majority of companies in the country are trying to be selective in planning the workforce, compensation and benefit cuts for 2009, while they anticipate a decline in their company's business performance next year, according to global HR consultancy Mercer.
India is expected to see the highest salary increases among nations in the Asia-Pacific region, of around 10.8 per cent this year, due to the huge demand for talent in the country, despite the global economic crisis severely impacting overall wage increments in the region, a study says.
HR managers are resorting to innovative ways to harness and retain talent as the market is witnessing demand-supply constraints.
India has demonstrated a double digit growth in salary hike for the fourth year running, the highest in Asia Pacific region, with global HR consulting firm Hewitt Associates forecasting an average 14.5 per cent wage hike in 2007.
This was largely due to continued economic growth despite high energy prices, civil conflict and high inflationary pressures in Sri Lanka, the survey said. India was ranked at the top in last year's survey with a salary hike of 14.4 per cent. In this year's survey, Vietnam was ranked third with a hike of 10.3 per cent, followed by China (8.6 per cent) and Philippines (8.2 per cent).
Aiming to tap India's growing business process outsourcing market, global HR services firm Manpower has launched an ITeS division to provide customised HR services to the ITeS industry in the country.
Largest software exporter TCS said it will keep its campus hiring target flat at 25,000 next fiscal and also ruled out pay revision for those joining next year.
'Young people are digital natives.' 'Hence, their ability to learn coding and to become a full stack engineer is far more.' 'The demand for such people is more as we feel that if we hire people from campuses, we can train them to become what we want.'
'At any given point in time, we expect only 25 per cent of our workforce will need to be in office.' 'And any given person will only be required to spend only 25 per cent of their time in office.'
The company hires postgraduate and PhD students from A+ grade institutes to be part of its research team.
Infosys, as part of performance improvement programme, allows 'poor performers' to undergo training to get into shape.
Infosys added 10,997 employees (gross) in the last quarter of FY'14 and 39,985 during the fiscal to take its total headcount to 1,60,405 people.
No change in rules that govern sending professionals under H1-B visa regime
TCS is undertaking a significant performance-related restructuring of its workforce
One of the reasons behind the changing trend is that the applicants are spoiled for choice
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