Wednesday, November 11, 2009

Pay hikes are here! The recession recedes.

Job market doors are beginning to open once again. Thanks to the buoyancy across countries and locations, “enterprises are hiring, internal and third-party HR professionals are back in action and employees who maintained a stay-put status have started looking out.”

The IT/ ITES sector seem to be faring the best as they are said to be up for hiring “at least 150,000 people over the next year, against 100,000 this year and 350,000 to 400,000 [people later on].”

Economic Times said that “many companies have started reworking their hiring mandate. Infosys Technologies, which previously planned to hire 18,000 persons this year, has said it will hire an additional 2,000 during the third and fourth quarters of the current fiscal. A large number of product firms, R&D companies and mid-tier MNCs have also started hiring.”

“‘‘There is a sense of stability in the market. The next two quarters are expected to bring more clarity,” says T V Mohandas Pai, head of HR, Infosys. Pradeep Bahirwani, vice president for talent acquisition, Wipro Technologies, says, ‘‘There is a clear uptake in hiring, though it is too early to conclude if it is a temporary spurt or full-blown recovery.””

Third party recruiters – and otherwise – say that “hiring is currently more evident in non-IT sectors and it will take another couple of quarters before IT/BPO hiring picks up momentum.”

According to them, “recruitment is more evident in non-IT sectors. Industries like banking, retail, realty, healthcare, education and housing have been the early beneficiaries of the stimulus package. The thrust on infrastructure roads, ports, airports, highways, bridges will mean additional hiring in these spaces. Domains like telecom, oil & gas, energy, education, government (e-governance) and utility are also expected to be more active than the tech space.”

It certainly looks like those hiring “will be busy for the next two quarters with non-tech sectors, though the tech sector too has also started showing signs of recovery, says B S Murthy, chief executive officer, HumanCapital.”

Employees are beginning to step out of their recession-hit careers with hope for better salaries and regained positions. “There was virtually nothing in the market for almost a year. Many of us had no option but to stay put. Now, the situation has definitely changed, maybe it is time to start exploring again, says Kiran Kumar, an employee in a large telecom company.”

So candidates and recruiters alike, look lively! The market is slowly turning around and making changes in our favor.

Wednesday, November 4, 2009

Indians, get set to get a pay hike.

According to a survey by Hewitt Associates, “salaries in Indonesia and China will also surge by 8.7% and 6.7%, respectively, whereas workers in Japan can expect a paltry 2.1% pay rise”.

On the 22nd of October, Economic Times posted an article on pay hikes in the coming year. Apparently a survey showed that “companies in Asia are set to offer bigger pay rises next year as the region continues to rebound from the global recession’ and that too, ‘notably in India where base salary levels are poised to jump nearly 10%.”

This survey covered over 2,000 local as well as joint venture companies in the Asia-Pacific area. Hewitt said that “salaries — or annual guaranteed pay — this year in Asia’s fast-growing economic powerhouses, China and India, at 4.5% and 6.3%, respectively, were the lowest since 2005.”

“Salaries barely grew at all in Hong Kong and Japan, this year as companies cut staff. More than 60% of companies surveyed in Hong Kong, Japan and Singapore froze wage levels, compared with only 26.1% in India and 30.8% in China.”

“Next year, only 6% of companies in India and 8.3% in China expect to freeze pay compared with 12-14% of companies in Japan, Singapore, Hong Kong and Australia.”

So, it looks like it’s just about party time for us in the Indian market! The recession is on its way out and pay hikes will be all the rage in just a few short months. Hold on to your seats! Here comes your salary hike.

Wednesday, October 28, 2009

TimesJobs launches a new generation resume - Global Connect!

It’s brand new, it’s practical and it’s never been on a job portal before. Global Connect was recently launched on TimesJobs as a tool with which a candidate can connect their online social media to their existing TimesJobs profile.

With candidates incorporating social media to their profile, recruiters will now be able to get a more well-rounded view of the candidate before they do so much as call them.

Candidates can now upload and attach to their TimesJobs profile, such things as:

  • Messenger ID’s for live chat interviews
  • Slideshare, Youtube, Google docs, etc.
  • Linkedin, PeerPower, blogs, websites of companies worked for, etc.
  • Work samples, voice clips, courses done, etc.

By viewing samples of their work, professionally chatting with them online and more, you will gain a better perspective on them, thereby cutting your future interview with them in half.

Speaking on the TimesJobs Global Connect feature, Mr. R. Sundar, CEO, Times Business Solutions Ltd. said: “We are in an age where everyone has a presence on many places on the internet. We continuously examine & analyse modern & practical online innovations and leverage them into new services which anyone in any industry can use. With TimesJobs Global Connect, our users can now experience a whole new ease & speed of online hiring with the power of Social Media.”

“With TimesJobs Global Connect, candidates can project to potential employers a comprehensive profile which, apart from their resume, will also intelligently highlight his work & achievements from sites like PeerPower.com, LinkedIn, Blogs, Slideshare, YouTube, Google docs etc, on the same platform…Connecting with potential employers is also enhanced with the addresses of various messengers like Gtalk and Yahoo, apart from connecting via phone and email.” added Mr. Nilanjan Roy, Product Head, TimesJobs.com.

With Global Connect on TimesJobs, candidates can now project to potential employers a comprehensive resume. Apart from his TimesJobs resume, he will also intelligently put his profile and work from other sites on the same platform.

Wednesday, October 14, 2009

What kind of employee are you?

There are two kinds of employees. Some believe they can make things happen, and the others believe that things happen to them. The first group believes that the outcome of their life and career is more or less in their own hands, and they wouldn’t have it any other way. The other group takes more of a Forrest Gump approach: They sit around and wait for a bus to take them somewhere.

This distinguishing feature is captured by something called a “core self-evaluation.” After more than a decade of research, psychologist Tim Judge has discovered that virtually all superstar employees—from rainmakers in the field to line workers on the floor all the way to big guns in the boardroom—have one thing in common: a high core self-evaluation. Judge describes core self-evaulation as “a person’s fundamental bottom line evaluation of their abilities.”

Judge and his colleagues have shown overwhelmingly that employees who feel like they control the events in their lives more than events control them and generally believe that they can make things turn out in their favor end up doing better on nearly every important measure of work performance. They sell more than other employees do. They give better customer service. They adjust better to foreign assignments. They are more motivated. They bring in an average of 50% to 150% more annual income than people who feel less control over the fate of their careers. Not surprisingly, these employees also like their jobs a lot more than the Gumps do.

BETTER PERFORMERS IN GOOD TIMES AND BAD

Corporate SeatIn one study, Judge and his team tracked the progress of more than 12,000 people from their teenage years to middle age. He found that core self-evaluations predicted who did and didn’t capitalize on the advantages life dealt them. With only a bleak view of their capacity to handle life’s challenges and opportunities, even the brightest kids born to executives and engineers failed to reach as high an annual income as their less fortunate classmates.

By contrast, the supremely confident sons and daughters of roofers and plumbers who had only mediocre SAT scores and below average grades earned a 30%-60% higher income than the smart kids with dreary views of their abilities. And those kids with all the advantages of intelligence and pedigree plus a firm belief in their competence earned three times as much money as their otherwise equally blessed peers.

It seems that the difference between the successful and the unsuccessful employees has as much to do with an employee’s beliefs about her ability as the reality of that ability. Considering that this difference is based as much on illusion as on reality, you might think the employee’s performance would take a serious nosedive under challenging circumstances.

After all, if you think you’re special, what happens when your superior or your board tells you about the areas in which you’re falling short? Worse yet, what happens when the self-described superstar finds himself laid off or responsible for a division with tanking revenues? In other words, what happens when people who believe they are capable of controlling the world find themselves in an economy that is out of control?

It turns out that this is when the true stars shine. Tough times weed out both those with low self-evaluations and those poseurs who only pretend to have a high self-evaluation—the narcissists. Judge finds that only about one in five people with a high core self-evaluation also scores high on measures of narcissism. That’s probably why researchers continually find that those with a high self-evaluation do so much better in turbulent times compared with those with a dimmer view of their abilities, and compared with those narcissists with fragile egos.

In a series of studies by different researchers, employees with high self-evaluations have been found to respond better to corrective feedback.

They also experience less stress and burnout than other employees, struggle less with work-life balance, and persevere more when searching for a job. Rather than shattering their beliefs in their abilities, it seems that a high self-evaluation creates a mental toughness that makes these people stronger and more resilient even when the chips are down.

THE CORE OF YOUR RECOVERY STRATEGY

ChallengesTo identify these stars who can take charge of your organization’s rebound, you can use Judge’s simple 12-question “Core Self-Evaluations Scale.” (You can learn more about the scale and download it for free on Tim Judge’s Web site.) It would also be a good idea to start keeping an eye out for these positive go-getters already working for you and consider giving them more responsibility and visibility in your recovery efforts. Here is how to spot them:

  • “I Think I Can” Attitude: Kindergarten never taught a lesson more supported by empirical evidence than this: People who believe they can overcome challenges are more successful in virtually every sphere of life, including work.
  • In Control: Does this employee take control of his work, or does he always point to outside circumstances when his projects go astray?
  • Confident, Not Narcissistic: There is an important difference between having a high self-evaluation and being a narcissist. Does the employee pitch in when teammates need help, or bad-mouth co-workers they view as threats? Are they receptive or defensive when you give them feedback?
  • Emotionally Stable: Employees who aren’t easily discouraged are less likely to succumb to stress and burnout. They solve problems instead of saying, “See, I knew it wouldn’t work!”

You could argue that getting these winners and their can-do attitudes on board still can’t do much about a dismal economy. After more than a year of watching the economy go the way of the Titanic, nobody would blame you for trying to wait out the hard times. But do you really want to spend the coming months soothing your anxieties with a box of chocolates, and hoping that your bus arrives before the wind picks up?

Nick Tasler is a writer, researcher, and organizational psychologist. Tasler began his career at Andersen Consulting, was director of global research and development for think tank TalentSmart, and has consulted for Fortune 500 companies as well as smaller public and private enterprises. His book The Impulse Factor was named Best Career Book of 2008.

Article courtesy of Economic Times

Wednesday, October 7, 2009

Careers or Jobs?

It is a cliché that building careers not finding jobs that helps in being successful. But is there a real difference between the two? Let us first take a look at what is the typical approach practised by many young people. As soon as education is completed, most of the youth look for a ‘job’ and the jobs are evaluated on the basis of the earning potential, promotion possibilities, the opinions of friends in the industry and the perceived value of the ‘job’ in the known circles. Once someone is on the ‘job’, the next most important aspiration is to get promotion or more money with the same company or with another. Very often he/she could hop from one ‘job’ to another with ease for better ‘prospects’ as experienced talent at entry levels has always been in short supply and the employers have been willing to pay a premium to attract such talent.

But then, the scenario is changing now. Firstly, jobs are not easy to find, not only because they may not be in as many numbers as were in the past, but also because the employers have become choosy and their expectations are changing. If, in the past, employers were willing to recruit freshers and provide them training anywhere from 3 weeks to 9 months, today they expect the ideal recruits to come equipped with skill sets they would have to otherwise train them in. Once the candidate joins the organization, promotions and entitlements do not come easy anymore, he/she is expected to demonstrate competence and also willingness to stretch beyond the ‘defined expectations’ of the role to capture the attention of the bosses and the peers. In order to manage this shift taking place in the workplace, it is imperative to appreciate how to plan the work phase after education.

The starting point for planning one’s work phase is to distinguish a career from a job. A job should be seen as a step towards a career and not as an end in itself. In order to plan a career, therefore, it is important to understand and identify one’s own potential and strengths and embark upon a path that is built around them. The gaps identified to meet the industry expectations can be filled by relevant training programmes in order to be equipped with relevant skill sets to launch into the career of your choice. Just having several strings of qualifications in one’s resume are not enough, training and qualification with reference to the career are accorded more value by the employer.

Career orientation would require one to be focused on developing one’s skill sets in the specific domain as well as develop the all round capabilities beyond the narrow definition of the job. While it may not be easy for all to have a very clear vision at the start of the career, being focused on doing the best at every stage of the career and have willingness to learn and adapt continuously would bring in sharper focus on career goals and build the resilience to navigate towards these goals.

Wednesday, September 30, 2009

RAI + TimesJobs = a retail-specific job portal

In conjunction with TimesJobs.com, Retailers Association of India (RAI) launched RAI.TimesJobs.com. Focused solely on the retail industry, this online job portal will be promoted actively among the 400+ members it has. This portal is expected to aid those in this industry – both employers and jobseekers – to efficiently recruit/ get recruited in a time-saving, low-cost way.

R Sundar, CEO, Times Business Solutions, has said, “This partnership is the beginning of a long and flourishing relationship between the country’s leading retailers’ body – RAI and TimesJobs.com.” Kumar Rajagopalan, CEO, RAI, has added, “We are proud to be associated with TimesJobs.com and are sure that RAI’s alliance with India’s premier recruitment portal will provide tremendous value to our member companies.”

Wednesday, September 23, 2009

The Importance of Jobs and Careers

The starting point for planning one’s work phase is to distinguish a career from a job. A job should be seen as a step towards a career and not as an end in itself. In order to plan a career, therefore, it is important to understand and identify one’s own potential and strengths and embark upon a path that is built around them.

The gaps identified to meet the industry expectations can be filled by relevant training programmes in order to be equipped with relevant skill sets to launch into the career of your choice. Just having several strings of qualifications in one’s resume are not enough, training and qualification with reference to the career are accorded more value by the employer.

Career orientation would require one to be focused on developing one’s skill sets in the specific domain as well as develop the all round capabilities beyond the narrow definition of the job.

While it may not be easy for all to have a very clear vision at the start of the career, being focused on doing the best at every stage of the career and have willingness to learn and adapt continuously would bring in sharper focus on career goals and build the resilience to navigate towards these goals.