HR Updates

New entrepreneurs create more jobs

New entrepreneurs have emerged as a bigger source of employment than the formal sector and are likely to continue to do so, according to Gopal Srinivasan, Chairman and Managing Director, TVS Capital Funds Ltd.  New age entrepreneurs are likely to create millions of jobs in the future. It is such entrepreneurs, who were never heard of in the past, who have actually created many jobs in the last one decade, more than the formal sector, which has slowed down in jobs creation.

ITeS likely to see highest attrition at 21% : a report

With relatively easy recruitment norms, the country’s information technology-enabled services’ (ITeS) industry is expected to see high double-digit attrition (21%) with most exits likely at junior level, according to a study by executive search firm MANCER Consulting.

Pharma Co.s on hiring spree

Although the pharma sector has slowed from its peak growth rate yet the lure of expansion in the Rs. 75,000 – crore pharma market has kept companies looking for capable staff. On average, employee expenses for pharma companies have grown 14-20% in the quarter ended March from the year earlier. In the case of Cipla, India’s third largest drug maker, employee costs shot up 30% in FY14.

Search habits of job-seekers

Engineering graduates in Hyderabad are taking informed decisions. According to a survey conducted by TMI, 42 per cent of the jobseekers surveyed consider a company Web site as the top source of information to learn about the job and the potential employer. This comes as a revelation to small and mediumsized enterprises wondering why they are not able to attract top talent. The survey also provides insights into other job search habits of job seekers.

Spurt in hiring: Naukri.com survey

Kolkata saw a 5 per cent growth in monthly hiring,  in June this year. According to the Naukri job Speak index for June 2014, industry wise hiring sentiments was positive with the telecom and BPO sector witnessing a 20-per cent growth, “Sectors such as IT and ITES seem to propel the growth of the job market. Availability of quality talent across domains is an added force multiplier for companies to expand their presence in this city and we can expect the hiring to pick up further in the coming months”, said V Suresh, Executive VP and National Head Sales, Naukri.com. Apart from IT and ITES, the auto, oil and gas sectors have seen a growth of 18 per cent and 16 per cent respectively. Pharma saw a 22 per cent growth; while construction and engineering witnessed 13 per cent growth.

Mismatch between skills and jobs

Youth unemployment and underemployment have reached critical levels and are expected to continue rising in most G20 economies. Yet many employers cannot find enough people with the skills they need to grow their business and enable the economy to recover. This is threatening global economic recovery and could lead to a “lost generation” of young adults, says a report by the Chartered Global Management Accountant on addressing the employability crisis.