Mid-size IT companies to ring in pay hikes

After software giant Wipro lifted freeze on promotions and hikes, although selectively, mid-sized technology firms like MphasiS-EDS, Sonata software and Symphony Services are also planning to increase salaries and give bonus.

IT services firm MphasiS, which recently bagged new outsourcing contracts, has announced a recompense bonus for its staff which the company feels is possibly an innovative compensation model. “For good performers, the bonus can be 15-25% higher than the average pay hike,” MphasiS chief human resources officer Elango R said.

Read more

Read more...

Accenture Laying Off About 336 Senior Executives

The IT Market is picking up and some companies have shown profits in their last quarter which was sounding good till now, the word "Reccession" is slowly moving of the minds and now the layoff bells rings again. This time it is by accenture which targets Senior executives not the freshers or medium level engineers. Well Accenture has got around 4,800 senior executives , it says 336 employees may be affected.

The company expects the space reductions to be completed by the end of the current fiscal year, and the workforce actions to be substantially completed during the first quarter of fiscal year 2010.

Accenture says these actions will result in a pre-tax restructuring charge of approximately $247 million in the fourth quarter of fiscal 2009, ending 31 August 2009. Accenture expects net revenues for the 4th quarter of fiscal year 2009 to be in the range of $5.0 billion to $5.2 billion.
According to William D. Green, chairman and CEO, Accenture, “The realignment of our senior-executive workforce will help ensure that Accenture has the right people, skills and capabilities, at the right levels and in the right places. The affected executives are highly skilled and valued professionals, and we will be working with them, as appropriate, to help them find new opportunities outside of Accenture that take advantage of their experience and expertise.”

William D. Green further added, “In addition to continuing to manage Accenture with great discipline in a challenging environment, we’re taking proactive steps to ensure that we have the right cost structure to support our business going forward and that our organisation is properly aligned to most effectively capture future growth opportunities. At the same time, we’re making strategic investments in high-value growth areas that will enable us to extend our leadership in the market.”

While looking at the layoffs by the companies , Govt has to come up with strict laws for stopping these layoffs , as i say loss to company is brought by the people sitting at the higher level of the companies who are responsible to take decisions for the growth of the companies and they are being paid not only to get the profits but also to analyse future possible disasters. If the company comes into loss what does a fresher or a simple employee has got to do with that, the loss of profit for the company is generated by the decision making of the management. Now company should analyse who are exactly responsible for the loss and penalise them.This is very rude towards the employees who doesn't even know why they are being layedoff, the only reason they were given is company is in loss.

Read more...

Hiring activity picks up by 1.3%

Indian market is slowly picking up its pace though it not much affected by recession, the market recruitements or growth activities had been slowed down earlier. We have seen inflation rate going to negative values. Companies stopped hiring the employees rather they fired some many employees out of the companies. Layoffs was the only word heard in the corporate world earlier.

Now the good news is companies started recruiting the employees. Specially Indian market is seeing the increase the percentage of recruitements by the companies. India inc's hiring activity picker up by 1.3 % in the month of july with the improvement in recruitement in IT, real estates and retail sectors.

As per the survey of Naukri the largest job portal of india says that monthly 'JobSpeak index' continued to move upwards and edged up by 1.3 percent to727 in July compared to 718 in June.

On a three monthly moving average, the index inched up from 686 in June to 703 in July with industries including real estate, semiconductors, banking, auto and IT, witnessing an improvement, the survey said.

"The uptrend over consecutive months is encouraging. Improvement in hiring activity in lagging industries, such as IT, real estate, retail and auto, echoes optimism. However, continued increases in hiring activity over the next few months will indicate a turnaround in economic activity and in hiring," Info Edge, owner of naukri.com, National Head Marketing and Communications Sumeet Singh said.

In June, the hiring activity had increased 8.1 percent over the previous month.

Recruitment activity in the IT industry remained in the green with hiring up by four per cent in IT-software, seven per cent up in IT-hardware and networking and three per cent up in ITeS and BPO.

Read more...