HRNV-Mar-2016

HR News & Views March 2016

Editor’s note … Cover Story HR International

Dear Friends Interviewing – An Art or HR articles – Europe, US…
This edition focuses on some key Science…
aspect of Hiring, Rewarding people. Company Updates
Article
Latest happenings
Total Rewards
One to One Special Study Report
on HR Outsourcing

Debabratta Dutta

RD Associates
www.rdassociateindia.com

Advisory Board Hiring – the Right Fit …

Late Dr. Udai Pareek Cover Story…

Management Guru Interviewing has been an essential part of any
management workforce. There is hardly a doubt that
Madan Srinivasan people forms the most critical, important and complex part
of any organization. It is not only about the skills and
Global Human Resources ability but a larger role enables in adapting to a new
Professional (Based in UK) environment.

Syed Ali Abbas

Chief HR Officer
Pacenet

Singapore

Marcel Parker

Ex-President HR
Raymonds

Anil Noronha

Exec. VP & Group Head HR
Wadhawan Holdings

Sourav Basu

TRUST IS THE SOUL OF RELATIONSHIPS Cover story

www.Heartfulness.org Advertisement

Business and the workplace are built on relationships and communication. In fact, other than our families, they are the Articles
main forums for modern-day human interactions.
The Talk HR International
I remember once being more than a little frustrated after a long day of meetings and
customer visits filled with tension and problems, and getting back to the office to my Update
secretary asking, “What’s wrong? You look like a black cloud.”

I explained, “Why is it that men in suits have to create such tension and suspicion of
each other in meetings, and try to cut each other down?”

She replied immediately, “Don’t you know? The business world is the modern-day
Colosseum!”

It rocked me when she said it, but it also made sense. There is some inherent need
for combat in the business world that I had not factored into my thinking.

This is a typically masculine dynamic, whereas the feminine approach to conflict is less overt but also problematic.
These are of course stereotypes, and every human being is a mixture of both, but there is some wisdom in
understanding that these different views of the world can lead to all sorts of inherent issues with trust. What it taught
me is that if we can master relationships, we are able to master most of the dynamics we face in the business world.

That trust is the soul of all relationships is a truism. We all know what happens when trust is lost in any relationship – it
can take years to rebuild and very often the relationship ends. This is just as true between manager and employee, or
company and customer, as it is between parent and child, husband and wife, or siblings.

When trust is lost, anger, resentment, stress, depression and even revenge can result, unless we take another
perspective. What is so peculiar about all this is that all of us are guilty of breaking the trust of others, at one time or
another, whether intentionally or unintentionally, and yet we are so devastated when someone else breaks our trust.
We can become very self-righteous all of a sudden.

Take the classic scenario: someone hurts us at work, by speaking badly about us, criticizing our work, taking our job,
or wrongly accusing us of something. What do we do? Often we go and tell someone else about it, accusing the
perpetrator of mistreating us! And yet we don’t see that we are doing exactly the same thing. We create a chain
reaction, building negativity upon negativity, without pausing to dissolve the situation with another approach.

There is another great truism, and that is that we see shortcomings in the behavior of others only when those
shortcomings are present in ourselves. This gives us a great clue as to how we can handle situations where trust is
broken, whether in the workplace or with family or friends.

There are two tips that come from the Heartfulness perspective that help heal wounds of trust in relationships. They
are two of the greatest practical pieces of advice that I have learned, and have changed my life:

1. The first piece of advice came from the third teacher of Hearfulness. One day someone asked him, “How do Cover story
you keep trusting us all when we make so many mistakes? It must be so disappointing for you.”
His answer was, “I trust in the potential of all of you.” Advertisement

How do we trust the potential in others? It is worth pondering over. It means giving people a second Articles
chance. It means looking at ourselves instead of pointing the finger at others. It means seeing beyond the
behavior to the person. And much more…

2. The second piece of advice came from the first teacher of Heartfulness, back in the early 1900s. He
advised his associates who had problems in their workplace to make friends of their enemies and those
who had hurt them or betrayed them.

How can we make friends of our enemies? That is a whole topic in itself, and one that is also worth
pondering over. What can we do differently in order to rebuild relationships that have gone wrong? If we can
master this, we will solve all issues of managing trust.

Both of these require us to treat others as we hope they will treat us.

Another useful tip: when things have gone wrong and trust is broken, ask yourself the question, “What can I do now
to build trust?” This will keep the focus on a constructive way forward, and avoid the pitfalls of getting caught up in
the dark hole of feeling that trust has been lost.

After all, isn’t it more fun to look for the potential in people than to constantly examining their faults? It will certainly
make for a better world.

The Talk HR International

Update

Interviewing – An Art or Science Cover story

Interviewing has been an essential part of any Advertisement
management workforce. There is hardly a doubt that
people forms the most critical, important and complex

part of any organization.

Arindam Chakraborty It is not only about the skills and ability but a larger role
Director - Human enables in adapting to a new environment.
Resources & Admin.

(formerly LiveCareer) Articles

www.arichak.weebly.com

HOW EFFECTIVE CAN INTERVIEWING BE?

Interview as defined…

In today’s context interviewing has evolved many folds and it has completely changed the way they are being operated
with.

Dynamic The Talk HR International

Combination Interview Virtual
methodology Today

Technology Update
usability

The Changing Paradigm… Cover story

It is an opportunity to meet an understand Advertisement
synergic possibilities
Articles
It is a Win – Win situation focused upon
The Talk HR International
IT is no more a ONE-WAY traffic with
organization trying to assess capabilities Update

It is no way just an attempt to measure the
know-how and implementation capabilities

It is a two way Selling process and both has
a right to select / reject

It is no more a hierarchical exercise and with 360 Cover story
feedback even team member has a right to assess
Advertisement
about their upcoming supervisor
Articles
What’s in stake as we interview today…
The Talk HR International
• Interviewing is becoming increasingly a matter of not merely a scientific
approach any more Update

• Only tool measures of competency of knowledge is not a critical
element any more

• The most critical element has become an ability or a capability of an
individual to adapt and work in a given environment that exists

• How can an individual translates his/her expertise in a workplace that
creates incremental work effectiveness

What’s the point of hiring a highly knowledgeable skilled person
who cannot work with people within…

Interviewing in today’s world… Cover story

• Create an interactive platform providing the candidate to express freely Advertisement
• Do not judge as it is nearly impossible to find the right balance in a
Articles
judgmental mode
• It is not a matter of competition of who knows more we or the The Talk HR International

candidate (greatest traps people fall into)
• Do not keep focusing on only what he did, but do spent an adequate

time to understand what he can do? (assess not only performance but
more importantly potential)
• It is imperative to understand the key aspect of handling and working
with people and how does the person reacts and handles to tricky
difficult situations

Finding the right fit is more critical and
important than find the best skilled person.

Update

HR Outsourcing Cover story
a study by RD Group
Advertisement
To know more and complete study report subscribe to HR dipstick product
To know about RD Product Spectrum CLICK HERE Articles

The Talk HR International

Update

Cover story Advertisement Articles The Talk HR International Update

One To One Cover story

Samar Mahapatra Advertisement

Sterling Tools Ltd Articles
EX - Head HR
The Talk HR International
How do you see the changing role of HR from what it was a few years ago
Now HR has become very critical to business .Organisations can move to the next orbit through scientific HR Update
processes. Now business cannot be sustained or grown without effective HR input. Human Capital shall be the
key to success in future and hence managing the human capital shall become the single most important objective
for the HR professionals and organisations.
How did you see this transformation of HR from a Support function to a Business partner
This transformation had to happen or else HR was not required by industry. No HR can survive without business.
When business itself found it difficult to stay healthy or competitive it had to transform it's HR as a business
partner.
In context to your current organisation what are some of the significant achievements that you drives in
HR
Talent acquisition and development has become a key role for us in HR in our organisation. Employee
engagement,leadership development and retention of Talent are some of the important objectives we have.
What are the biggest challenges you see today in managing HR function
Surely it is Talent acquisition and holding on to it.
What are some of Talent retention mechanisms that your organisation focuses on
We have good career planning and besides it we have training in Japan ,Retention Bonus,etc. for Talent retention.
If given an opportunity to bring about a change in the way HR is being operated across industry what will
be your change
I would put Employees First for every decision that is taken, pushing all other organisational or external
components to the rear.
What will be your words of wisdom to some of the budding professional in this fraternity
If the HR professionals are not rational and lack in values, ethics, empathy ,etc. they would no more be useful to
the industry.
How do you handle this challenge of increasing of expectations management from employees towards
growth and how does organisation handle it during tough times
It is very tough. We are realistic and transparent on these issues. The employees are told very clearly what are
the takeaways from each other . We do not mind parting with unreasonable people.

Total Rewards – Matching the organizations expectations with the Cover story
employee’s aspirations
Partha P. Patnaik Advertisement
Head – HR With the IT industry having an optimistic outlook for the year ahead,
the competition between organizations for attracting and retaining
Prolifics talent is going to be high. Hence apart from just direct compensation,
programs like work-life balance, career development and performance
management are crucial business responses for the ever changing
workplace. Organizations that are interested in maintaining a diverse
workforce, retain experienced and knowledgeable employees and
attract new talent cannot afford to overlook the value such programs
bring to balance the concerns of today’s workforce

In fact many organizations have already started using initiatives like flexi-timings, extended maternity/paternity leaves, Articles
Management development programs, job enrichment etc. to help recruit and retain employees.
Senior Management and HR practitioners can affect employee engagement and retention by first understanding the other things The Talk HR International
an employee values, apart from compensation, in today’s workplace and then championing strategies that maximize the
effectiveness of those initiatives. Introducing such programs can help in improving employee morale and retention, reduce Update
unscheduled time off, and increase overall organizational performance.

Current trends in employee rewards and benefits opportunity in India

With India becoming fast integrated to the global workforce, the basic themes of various employee rewards and benefits are
starting to look similar. Most organization while benchmarking themselves against the best practices of the leading companies in
the industry are quickly adapting themselves to offer the same value proposition which most employees look for. Some of these
are stated below:

 Incentives – linked to both individual and organizational performance, which gives employee an upside to their basic (fixed)
compensation and benefits.

 Insurance - health cover for self and dependents
 Child care (extended Maternity/Paternity leave) – caring for a newborn, especially for the mother, which often takes priority

mostly during the first year.
 Sabbatical - for pursuing higher education or personal projects that a person wants to go in for at a given time or phase in

one’s career.
 Early (phased) retirement – for people typically over 50 who want to disengage from work, due to health or other personal

reasons, without waiting for the mandatory retirement age.
 Career planning – where the entire career for a recognized talent is planned right at the time of induction and ensure that

the person progresses smoothly into their desired role in the organisation.

The importance of creating a Total Rewards strategies

A Total Rewards strategy is aimed to cover all aspects of EVP (Employee Value Proposition) so that based on each individual’s
specific needs or aspirations, compensation benefits, recognition, career-planning etc. can be done. A good Total Rewards
strategy aligns the needs of an individual with the expectation of the organization to create a win-win situation in the following
ways:

 Addresses the employees immediate and future concerns – they have time to manage the issues better that seem either
more important at a particular point in their career.

 Reduction of mental stress – arising due to a mismatch of work expectations and anticipated reward/recognition, especially
when there is a conflict in prioritizing work-life issues.

 Better Delegation of work to the right candidate – as the person taking up higher responsibilities gets rewarded accordingly.
 Improved Planning and execution of activities – helps the employee to be more driven to accomplish what he/she wants to

accomplish in a given time frame.
 Reduction of Unnecessary or Low-Value work – helps an employee decide whether his/her presence in a meeting or

training program adds value or not.
 Requires Less Reporting – as the employee becomes more independent, supervision time and related costs are likely to be

reduced.
 Higher Work Satisfaction and Productivity – having flexibility at workplace makes an employee more productive as they are

engaged in their roles and openly discuss with their manager on their performance related issues.

Using Total Rewards to improve performance and reduce attrition in our organization Cover story

Most organisations have adapted various Total Rewards program to address their workforce’s expectations and ensure high Advertisement
levels of employee engagement and reduce attrition. Our organization has put the following programs to address our
employees’ special needs: Articles

Compensation & Benefits:

 Incentives – based on individual and company’s performance.
 Group Health Insurance – extended up to 5 dependents

Work-Life Balance:

 Alternate work timings – For the general shift, instead of having a fixed login time we have split the login times into blocks
of half an hour. Hence instead of a start time of 9 am, an employee can come anytime between 9am to 10 am as per his or
her commuting time. The logout time (work-hours) for the employee is calculated based on his/her preferred login time.

 Part-time work - For some employees with ongoing family obligations, a permanent part-time schedule is sometime
considered. This is however typically restricted to non-critical and support staff only.

 Extended Maternity leave – above the legal minimum often allowed to staff based on their requests.
 Special (concierge) services – assisting in investment/tax planning’s, health checkups, handling insurance (health) claims

and settling bills, making dinner reservations with good discount for group outings etc.

Rewards & Recognition:

 Star of the Quarter Award – certificate and gift voucher to the best performers in each team.
 Internal Certifications – for technology and/or domain experts.

Career Planning:

 Job Enrichment – increasing or modifying the scope of work and making a person cross-trained in more than one product
or technology. Ensuring the organizational skill is cumulatively increasing year on year.

 Coaching & Mentoring – checking the aspirations of each employee and matching them against their current and future job
profiles. Highlighting the areas of improvements and ensuring that focused training, formal and on-the-job, is done to
improve performance.

 Talent Management Program (TMP) – where a group of Sr. Managers, forming the TMP committee, plan the various
developmental and career management programs to ensure proper succession planning.

The Talk HR International

Update

Cover story Advertisement Articles The Talk HR International Update

Compensation Study
Report – 2016
LAUNCHED
KNOW MORE…

Cover story Advertisement Articles The Talk HR International Update

Cover story Advertisement Articles The Talk HR International Update

HR International… Cover story

HR in Europe

In this column, I hope to share with Advertisement
you some aspects on HR
Paul Strange, professionals in Europe.
HR Consultant

European HR ways… Articles

THREE WAYS TO LOOK AT EMPLOYEE ENGAGEMENT Adams says that HR must treat or employees in the same The Talk HR International
way as our customers, and ask for better analysis, better
I found an article by Lucy Adams – ex-Group HR Director at predictive data, and better granularity of understanding. Update
the BBC interesting. She was lamenting at the lack of
employee engagement she found in many organisations, and 3. We need to engage with them as human beings.
yet there is much ‘hot air’ spoken about the subject. “I have We create distance between the organization and our
become increasingly convinced that the answers might just be employees by using management jargon, and bland
a bit simpler than we have made them”, she says. These are communication which often tell people what they already
her three simple ideas: know or information they have no interest in. “Try not to
say words like “dialogue” or “interaction” for a week and
1. We need to treat our people like adults. you’ll realise that we adopt a language that defines us as
Ms Adams boldly stated that ‘Most employer-employee corporate and detached – not “real.”
relationships start with the assumption that employees HR should encourage people to talk with each other, in
are like children and need to be either protected or the same way as you we talk to our friends and our
controlled,’ and cited examples of employee contracts, families. “We know that stories move us and they help us
handbooks, and training that were stuffed full of rules that transcend sceptical analysis as we co-create with the
listed warnings of punishments for non-compliance. story teller. That’s how we talk to our friends and our
She asked how would you adopt a more adult approach? families and yet as leaders we feel we need to have
Which policies would you take away that annoy people data.”
most? Try and share good news as well as bad.

2. We need to think of them as customers. So her message is simple: Adult to adult. Employees as
We have sophisticated ways of analyzing our customers, customers. Human beings talking and listening to each
checking their purchasing and physical behaviors in other.
retails spaces, and risk models to assess their
creditworthiness and to predict their next choices. For
our employees, we have the annual employee survey
and the annual performance appraisal, which can only
provide the most superficial of snapshots.

GENDER GAP REPORTING IN UK Cover story

According to the Global Gender Gap Index, published each year by The World Economic Forum, the Scandinavian countries Advertisement
of Iceland, Norway, Finland, and Sweden have the highest ranking of gender equality in pay and wages. UK is 18th. USA is
28th, and India is 108th. Articles

The UK is introducing a new idea in 2018 to improve its ranking. It has asked all companies to report what the gender pay The Talk HR International
gap is in their organisation. Companies with more than 250 employees will have to disclose how much they are paying in
salaries and bonuses to their male and female staff. Update

It is illegal to pay different amounts to men and women doing the same jobs under the UK’s Equal Pay Act. But estimates
from the UK Office for National Statistics suggest the pay gap currently stands at 19.2% for full- and part-time workers in the
UK, meaning a woman on average earns around 80p for every £1 earned by a man. The EU average is circa 16%.

There will be resistance to the measure from UK businesses, seen as ‘red tape’, and it may be delayed or changed before
2016. However, it only follows some other European countries in forcing employers to be more transparent on this sensitive
subject.

In Austria measures were implemented in 2011 under the Equal Treatment Act to tackle the gender pay gap and achieve
transparency in pay systems. Employers are required to report every two years on gender pay differences. The same rule
applies in Belgium. In France employers must have a published action plan on closing gender pay inequality.

US COMPANIES CUTTING JOBS IN EUROPE

Two big US companies are cutting jobs in Europe.

Ford Europe is looking to make $200 million in cost savings this year. Though profitable last year, they feel that that state is
fragile and are looking for looking for long-term profitability.

Though it has not stated how many jobs will go, it is looking to improve productivity and to reduce its vehicle line-up. The
company has 10,000 salaried staff in Europe, mainly in Germany and Britain, and up to 10% may be cut.

General Electric plans to cut up to 6,500 jobs over the next two years in businesses it bought from French engineering giant
Alstom. The jobs will go in France, UK, and Switzerland, and will focus on the gas and steam power businesses, which have
experienced a slump in recent years.

NEWS SHORTS

Germany: The country is creating around 700, 000 jobs annually, and half of these are thought to go to incoming migrants.
Over 1.5 million migrants arrived in Germany last year, and those that cannot find work are supported by state benefits.

France: The Government will introduce a law giving employees a right to ignore work emails outside of working hours. The
right ‘to disconnect’ will ease pressure and offer a better work-life balance.

Greece: The government says it needs to borrow 980 million Euros this year to pay state pensions.

Ukraine: The country is to introduce a new Labour Code after 14 years of drafting. It replaces a code made in 1972.

Spain: Telecoms group Telefónica has come up with a novel way of reducing its wage bill by offering employees aged over Cover story
53 the chance to stay at home on 68% of their salary, plus some health benefits. They would remain employed until
retirement age of 65. Telefónica has about 28,000 employees in Spain and estimates that 7,000 people are eligible for the Advertisement
scheme, which runs until the end of next year. The company hopes to save €370m.
Articles
THE PHANTOM OFFICIAL

I liked the story from Spain this month. The town council of Cadiz wanted to make an award to a long serving employee, Mr
Joaquin Garcia. Mr Garcia was an official at the local water treatment company, and the HR department found that he had
20 years’ service as an employee.

Messages were sent to find him, but no one knew where he was. They found his desk, but a co-worker said they did not
know Mr Garcia. This was because he had not attended work for the previous six years! When they found Mr Garcia at his
home, he claimed that, when he was assigned the job, he had no work to do or a supervisor. He feared he would be
sacked, so he did not report it and chose not to attend work. Nobody noticed, and the HR department continued to pay him.

The local court ruled that Mr Garcia, who has now retired, had to pay a fine of €27,000, but he will not pay.

The Talk HR International

Update

Cover story

Inner Change and Heartfulness Meditation Advertisement
CLICK ON THE IMAGE TO SEE THE VIDEO
Articles

The Talk HR International

Update

Company Updates Cover story

Meet Mr. Abidali Neemuchwala, the new CEO of Wipro Advertisement

Just 10 months after he joined Wipro as Group President and COO, Mr. Abid Ali Neemuchwala has been elevated as the Articles
new CEO of the company and inducted into the board. Mr. Neemuchwala's elevation was speculated right from the time he
joined the company after a 23-year stint at Tata Consultancy Services, where his last role was as the global head of TCS's The Talk HR International
Business Provider Services unit. He was considered particularly close to TCS CEO Mr. N. Chandrasekaran, and Wipro
bagging him was considered a coup. Forty-nine-year old Mr. Neemuchwala is a post-graduate from IIT Bombay who has a Update
Masters in Industrial Management and also is an Electronics and Communication graduate from NIT-Raipur. He takes over
Wipro at a time when it is in slightly better shape but is still struggling as it adapts to market shifts. Also, increasingly, Mr.
Rishad Premji the Chief Strategy officer of the company who represents the interests of the founding Premji family on the
board will play a crucial role in shaping Wipro's future, along with Mr.Neemuchwala. Source: Businesstoday.in

Rubique appoints Mr. Anadi Mishra as CTO

Rubique, an online marketplace for financial products, has roped in Mr. Anadi Mishra, a former employee of Myntra, as the
new Chief Technology Officer (CTO). It also appointed Mr. Manish Aggarwal, who earlier worked with Reliance Jio, as the
new Business Head. Mr. Mishra is expected to strengthen the company’s technology platform while Mr. Aggarwal will handle
its business and operations. An IIT Mumbai alumnus, Mr. Mishra brings over 22 years of experience across core
competencies like product development, analytics, machine learning, consultant, etc. He played key role in product and
team building at Myntra as Vice President for Engineering Analytics. Mr. Mishra began his career with Reliance Industries
before working for companies such as PwC, UIDAI, and Crowd Analytix. At Rubique, he will focus on creating innovative
tech products with his strong experience in analytics domain. A product of IMT Ghaziabad, Mr. Aggarwal has more than 17
years of diverse experience in sales, customer services, vendor management, and client relationship management, among
others. He started career with Cadbury Schweppes Beverages India. “We are focused to bring more efficiency in the entire
loan eco-system by introducing an innovative tech-led solution which caters to all the financial needs of consumers who are
both online and offline, and are therefore hiring experts from diverse industries who can add value in the existing processes,”
said Mr. Manavjeet Singh, Founder and CEO, Rubique. Source: Thehansindia.com

Rs 1-cr offer for IIFT graduates

The Indian Institute of Foreign Trade (IIFT), one of the oldest B-schools in the country functioning under the commerce
ministry, has registered a record placement with some students being offered over Rs 1 crore per annum salary package.
The institute, which registered 100 per cent placement of its largest ever batch of 254 students, also recorded a significant
rise in the salary offered by recruiters in domestic placements. While the average salary offered to the institute’s students in
domestic placements remained at Rs 18.01 lakh per annum, the highest compensation offered by the recruiters for various
positions in India reached Rs 29 lakh. The Olam International, TGI Group, Bhatia Brothers, Bajaj Auto and Godrej were
among the companies which offered international roles. Amazon, Cognizant Business Consulting, JP Morgan, Vodafone,
IDFC Bank, Wipro, HCL, ICICI Bank, State Bank of India, Axis Bank, Edelweiss, Goldman Sachs and Nomura were among
the companies hiring IIFT students to take up various key roles. Source: Deccanherald.com

Government emphasis on job creation to create millions of jobs

With the government putting strong emphasis on job creation, experts aid measures proposed in the Union Budget can help
in creating millions of employment opportunities in the coming years. Global management consultancy Hay Group India
Managing Director Mr. Nitin Razdan said, "Jobs and hiring in India needs to shift from being 'qualification based' to being
'skill based' as this will ensure that even the educational institutions will focus on imparting skills that lead to employability,
rather than doling out certificates and degrees". The government's 'Make in India' programme to make India a manufacturing
hub, presents a huge opportunity for job creation. Moreover, increased emphasis on skill development and education would
help make a lot of youth job-ready. "With the government's impetus to boost growth and facilitate INVESTMENTS in high
productivity sectors like infrastructure, manufacturing and related industries promises to create a vast pool of job
opportunities in the coming years," global professional services company Towers Watson MD - India Mr. Vivek Nath said.
While presenting the Budget, FINANCE Minister Mr. Arun Jaitley said that the government will soon be launching a National
Skills Mission through the Skill Development and Entrepreneurship Ministry. The Mission will consolidate skill initiatives
spread across several Ministries and allow us to standardise procedures and outcomes across our 31 Sector Skill
Councils. Source: Moneycontrol.com

IIM Bangalore school courses top-ranked in Central Asia Cover story

Three post-graduate courses of the state-run Indian Institute of Management have been ranked top in Central Asia by Paris- Advertisement
based international agency Eduniversal, which specialises in higher education, the B-school said. The three courses of the
IIM-Bangalore are the two-year post-graduate programme in management, one-year post-graduate programme in public Articles
policy and management and one-year full-time residential executive post-graduate programme. "Ranking is part of the
agency's study of best masters and master of business administration (MBA) in 30 fields," the statement noted. "We have The Talk HR International
renewed our presence as the top management school in Central Asia, having been recognised as the number one business
school in the zone, for three of our long-duration programmes," said Mr. Ishwar Murthy, dean faculty, IIM Bangalore, in a Update
statement. Eduniversal evaluation system rates an institution on three criteria - Reputation of the programme, first salary
post-graduation and student satisfaction, the statement added. Source: Thestatesman.com

Many Millennials Likely to Quit Current Jobs in 2 Years: Survey

A significant number of millennials expect to quit their current jobs in the next two years on dissatisfaction over the way their
leadership skills are being developed, a survey has found. Individuals born between 1980s and late 1990s are referred to as
millennials. Apart from salary, millennials in the country ranked "opportunities to progress and take on leadership roles" as
their strongest reason to work for an organization, the survey by consultancy Deloitte found. "52 per cent of millennials
surveyed in India say, if given the choice, they expect to leave their current employers in the next two years. That figure
increases to 76 per cent when the time frame is extended to 2020," the Millennial Survey 2016 said. When it comes to
choosing an organisation, the millennial also seeks a good work-life balance and flexible working hours including the option
to work from home, as per the findings. Deloitte India senior director and chief talent officer Mr. S V Nathan said the
remarkable absence of allegiance represents a serious challenge to any business employing a large number of millennials,
especially those in markets like India where they represent the largest segment of the workforce. According to Mr. Nathan,
since most young professionals choose organisations that share their personal values, it is not too late for employers to
overcome the loyalty challenge. The findings are based on a study conducted by Deloitte Global of nearly 7,700 millennials
representing 29 countries. In India, the firm reached out to 300 millennials. Source : Profit.ndtv.com

IIM-A, ISB and IIM-B score high in FT's Global MBA Ranking 2016

Three of the most prestigious educational institutes in India, namely Indian Institute of Management Ahmedabad (IIM-A),
Indian School of Business (ISB) and IIM Bangalore, have once again proved why they are the best in their fields. The
institutes have secured 24th, 29th and 62nd ranks, respectively, in the Financial Times (FT) Global MBA Ranking of 2016.
This ranking aims to evaluate the best full-time MBA programmes in the world. Along with this, IIM-A was also ranked
number one worldwide for the career progress secured by its alumni. From last year, IIM-A has upped two places, while ISB
has moved up four ranks, and IIM Bangalore has taken a leap of 20. Talking of the best in the world, INSEAD has topped
the list, and has marked, for the first time, the first rank secured by a one-year MBA programme. The other institutes in the
top 5 include Harvard Business School, London Business School, the Wharton School and Stanford Graduate School of
Business, respectively. Source : Businessinsider.in

Flipkart Redefines Hiring Process, Recruits Nanodegree Graduates

India’s ecommerce, Flipkart’s recent partnership with Udacity, an online learning platform will let the online retailer recruit
graduates skilled under the Udacity's Nanodegree programmes. The partnership is aimed on changing the hiring process in
the software space that depends completely on the referrals and personal interviews. A breakthrough the conventional
system of hiring, Flipkart skipped personal interviews or group exercises and recruited candidates with the best Nanodegree
projects and Udacity profiles instead. The new concept of hiring saved the recruiter’s time wasted in interviewing the
candidates yet enabled them to hire the required talent. Three students have already been hired and have joined Flipkart’s
mobile team. They were amongst the first Udacity's Android Developer Nanodegree graduates to have joined the
ecommerce giant and more of recruitment between the two companies is expected to follow. "The kind of disruptive work
that we do at Flipkart demands a world-class talent pool and we are constantly on the lookout for experts who can solve the
problems of Indian consumers. The conventional hiring process often comes down to the performance of the candidate on
that specific day, which may not be a true reflection of their skills and temperament. This is where a partner like Udacity
comes into the picture," said Mr. Peeyush Ranjan, chief technology officer, Flipkart. Source : Jobs.siliconindia.com

Twitter shares crater on news of the company's executive shake-up
Twitter shares cratered following the news that five of the company's top execs were leaving. Twitter shares fell as low as
$16.55 in the opening minutes of trading, dipping below its all-time-low closing price of $16.69. Shares are currently jumping
between $16.75 and $16.95. CEO Mr. Jack Dorsey announced in a tweet that product head Mr. Kevin Weil, engineering
head Mr. Alex Roetter, and media head Ms. Katie Jacobs Stanton were all leaving the company, as was first reported by
multiple media outlets earlier. Mr. Dorsey, who said in his tweet that he wanted to "set the record straight" given what he
described as "inaccurate press rumors," did not mention Mr. Jason Toff, the head of Vine, among the departures. He did
note that Mr. Brian Schipper, the vice president of human resources, would also be leaving the company. Mr. Toff said that
he was leaving to work at Google. Twitter will also appoint two new board members soon, Business Insider has learned, and
we're told one of whom will be a big media name Source : Businessinsider.in

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