“88% Indian companies plan to increase headcount”

Job prospects for professionals and managers are continuing to improve globally; the 18th edition of the Antal Global Snapshot from international recruitment firm, Antal International, on hiring and firing trends has revealed.

In India, the survey found that the percentage of companies currently hiring stands at 63%. Recruitment levels remained positive with 88% of organisations planning to increase their head count and 29% of businesses currently shedding their staff.

In India, 2,292 companies took part in the survey to find out the hiring trends at professional and managerial level. The survey found that the percentage of companies currently hiring in India stands at 63%, a 10% rise year-on-year and per predictions made in September 2014.

The Accounting(79%) sector along with Education(78%), E-commerce(74%), SSC/BPO (73%), IT(67%), Banking(65%), Pharma(62%), FMCG(60%), to name a few, reported the highest percentage of current hiring as nearly all of those questioned reported they were currently taking on staff in these fields. Whereas in the next quarter, sectors like ICT Hardware (83%), Electronics(75%), Accounting(74%), E-commerce(71%), SSC/BPO (69%), Marketing Advertising(68%), show positive hiring trends.

Experienced professionals in several key disciplines such as Accounting & Finance, Human Resource, Operation and Sales & Marketing are in markedly short supply in India. Construction and Banking professionals can expect high levels of competition for jobs in the coming months

Sharing his view on the current hiring sentiments within the Indian job market, Joseph Devasia, Managing Director Antal International, India said, “The 18th AGS, which discovers hiring trends across global markets shows that in India, consumer focused industries led by ecommerce companies (74% of those surveyed) are leading the hiring march, and will continue to do so in the next quarter too. However Education, Pharma, ITES and Consumer Electronics also have showed strong growth and hiring outlooks remain high.”

While Q3 may have seemed to slow down a bit, more than 60% of companies across all sectors are hiring indicating a clear strategy focused on growth. Telecom and Real Estate/Infrastructure seem to be shedding the highest numbers of staff, which was expected in the current business climes,” he added.

 

 

Dealing with acidic attitudes: Help for your managers

Every workplace has negative people who erode morale. They’re not always easy to pick out of a crowd, but they can do an amazing amount of damage over time.

Most of the time, these folks don’t make the big mistakes that call attention to themselves. They’re frequently pretty good at their jobs, so they’re not called on the carpet too often.

But like a virus running in the background of a computer program, their acidic personalities eat away at the goals – and ultimately the bottom line – of the company week after week, year after year.

Who are these people? They’re the employees who:

• continually find things to complain about and exaggerate the seriousness of co-workers’ mistakes
• spread gossip and start rumors that pit employees against each other
• talk behind co-workers’ backs, and
• undermine supervisors’ authority with a never-ending flow of criticism that stays under-the-radar so it’s rarely recognized and corrected.

It’s been said the only way to fix a bad attitude is through psychotherapy, religion or brain surgery.  But it’s a rare manager who is a shrink, a minister and a neurosurgeon.

Still, every manager needs a strategy to deal with this constant drag on employee attitudes.

The stakes are too high to just let things slide.

Looking for answers – 4 key questions

So what’s to be done? The experts say managers should move away from the vague “bad attitude” discussion to the hard facts of employee behavior.

The key questions:

• What’s the impact of the employee’s behavior?
• How do the person’s actions differ from the standards set for overall employee behavior?
• What’s the effect of this individual’s behavior on the people who work with him/her?
• If this person acted according to our accepted standards, could it make a difference in morale and productivity?

Managers should identify the actions of negative people – and make it clear those actions will no longer be tolerated.

An example: A Midwestern company established a “no jerk” policy. It included the statement:

Each employee will demonstrate professional behavior that supports team efforts and enhances team behavior, performance and productivity.                                                                                                                                          

Handling tough conversations with acidic employees

Establishing policy is a solid first step; it creates a good framework.

But managers need practical advice that gets results day to day on the front lines.

Managers need one-on-one coaching sessions to cover these points:

• Acknowledge the awkwardness.Managers can let employees know they’re providing feedback that’s difficult to discuss. It’s only human to feel that way.
• Keep it results-oriented.A phrase like “I’m bringing this up because it’s important you address this issue to be successful in your job” is helpful.
• Accentuate the positive.It’s a good idea to highlight the good things that are likely to happen when the person changes the disruptive behavior. On the other hand, if the person remains defiant, stressing the negative outcome if the person’s attitude doesn’t change can be effective, too.

It’s human nature to want to delay having a tough conversation with an employee with a bad attitude. But that only makes things worse.

And since it’s going to be a tough conversation, it’s recommended that supervisors prepare for the discussion.

Suggestions for handling the confrontation:

• Be specific about what you want.It’s a mistake to use general terms in a discussion about a specific behavior problem. For example, a manager says “I don’t like your attitude. I want you to change it.” That’s pretty safe, but it could mean anything.
  Instead, the manager should say “It’s not helpful the way you talk about our customers behind their backs. It poisons the attitude of the others in customer service. From now on, if you can’t say something supportive of a customer, please don’t say anything at all.”
  Managers should try to gather specific examples of negative things the employee has said in the past, and use those in the discussion for clarity.
• Let people rant … a little. Once a manager has gotten through discussing the specific behaviors, it’s likely the other person is going to feel the need to blow off steam and maybe even mount a defense. To avoiding having people feel like they are on the witness stand, let them rant a bit.
  It’ll help them feel like they are being heard –  because they are. Then steer the conversation back to the results you want.
• Try to use “we.”Work to get across the notion that the issue is a problem for everyone concerned. A manager can start by saying “We have a problem” or “We need to change.”
  The helps the person realize the behavior is important, without finger-pointing.
• Avoid overusing “you.”Putting all the responsibility on the employee is a conversational black hole that’s impossible to escape. The constant use of the word you, as in “You have a bad attitude and everyone knows it” is an invitation for a fight.
  Instead, try “We need to talk about your attitude.”
  The point here is, while it is OK to use the word “you,” using it continually in a negative way kills the conversation.
• Avoid “however” and “but.”Some managers believe that if they lead with a compliment, it’s easier to wade into the problem. That conversation looks something like this: “You’ve done a pretty good job, but …” and then the manager lowers the boom.
  That often angers people and leaves them thinking, “Why can’t he ever just say something positive and leave it at that?”
  Consider substituting “and” for “but” and “however,” and the conversation is likely to go smoother, as in: “You’re doing a pretty good job and we need to talk about how to get you to show more respect for customers.”
• Don’t feel as if you have to fill the silence.In a tense situation a manager may be tempted to fill every gap in the conversation. Don’t. Stay silent when there’s a lull. Obligate the other person to fill in the silence.
  It’s surprising the amount of information a manager can get without ever asking a question … just by remaining silent.

 

Source: HR Morning

Insurers On Growth Track After 2 Years

Strong economic sentiment sees LIC logging 19% rise in premiums during April to Oct.

Achhe Din for insurance seem to have arrived with improved economic sentiment driving consumers towards taking risk cover more freely. Life insurance, the first choice of conservative investors, saw growth in premiums by a fourth after shrinking for nearly two years.

Market leader Life Insurance Corporation of India has seen a 19% rise in total premium income during April to October over the same period last year with private sector entities as a group reporting 27% growth, data from industry body Life Insurance Council shows.Achhe Din for insurance seem to have arrived with improved economic sentiment driving consumers towards taking risk cover more freely. Life insurance, the first choice of conservative investors, saw growth in premiums by a fourth after shrinking for nearly two years.

“The potential for coverage in India is so large that good companies have scope for growth even when the economy is on the road to recovery,“ SBI Life Insurance managing director & CEO Arijit Basu said. Premium income collection had shrunk 3.34% in the same period last year. Now, with Indian economy expected to grow 7.4-7.5% this fiscal, financial savings including insurance started attracting investors’ interest.

“The insurance scene is looking much better and positive than in the last couple of years,“ said Anuraag Sunder, director at PwC in India. “The overall economic sentiment has improved resulting in a rise in financial savings and insurance being a part of it has also seen good traction of growth almost after eight-nine quarters of de-growth.“

Private players such as ICICI Prudential Life Insurance, Max Life Insurance and SBI Life Insurance have registered growth in individual premium collections. “This (industry growth) has been driven by increasing ULIP sales, which has been driving up ticket size, and may not be sustainable in the long run,“ Reliance Life Insurance Company chief executive Anup Rau said. The fall in LIC’s individual premium collection has also raised eyebrows. LIC saw 18% total premium growth, contributed by a 55% jump in group single premium while its individual single premium collection dipped 39% and individual nonsingle premium fell 2%.

Total premium collection for the indus . 66,998 crore for the first five try stood at ` months in the fiscal.

Source: Economic Times

Date:19/11/2015

Paris Terror Strike may Lead to Spike in Travel Cover Demand

Other lines of insurance like life, health & personal accident too may attract interest

 Insurers and industry watchers expect a spike in demand for travel insurance in the light of terror attacks in Paris last Friday , as international travellers wake up to the possibility of such threats across the globe, including high-sought-after destinations in developed nations. “The unfortunate incident could prompt travellers to recognise the importance of travel insurance, even when they are travelling to countries where it is not mandatory,“ said Nikhil Apte, chief product officer -product factory (health insurance), Royal Sundaram Alliance Insurance. Travel insurance is compulsory for obtaining a Schengen visa, which covers 26 European nations, including France.

“After the recent terror attacks, travel insurance has become all the more important as it provides you financial cover and peace of mind if you get caught in such volatile situations,“ said Naval Goel, CEO and founder, PolicyX.com -an insurance aggregation portal. Insurance companies make a distinction between war, riots and terrorism. The latter is defined as an act of violence that causes loss of life and property where perpetrators belong to groups that seek to weaken control of established governments.

Similarly , other lines of insurance business -life, health, personal accident and home -too are likely to attract interest. “Insurance seekers are evaluating policies on the basis of their comprehensiveness. High end health covers pay for evacuation from primary care centres to hospitals of insured’s choice in case of emergencies,“ said Apte. Incidents like the one in Paris could prompt a rise in insurance purchases and deeper analysis by insurance-seekers. You need to read the fine print carefully to understand the scope of coverage and the items that the company will not pay for.

Travel Insurance

Many travel insurance policies do cover listed expenses arising out of terror attacks. “All risks such as trip cancellation, loss of passport, medical expenses, repatriation of remains, etc, are covered as part of the regular travel policy even if they result from terrorism,“ said Sanjay Datta, head of underwriting and claims, ICICI Lombard. Your accommodation expenses will also be reimbursed if you have to extend your stay due to an emergency. Depending on the variant chosen, the company will also pay for your journey back home and sponsor a visit from a relative on compassionate grounds.

However, you need to go through the policy documents in detail before signing up for one as some companies may not pay for risks emanating from terrorism. Tata-AIG mentions terrorism as exclusion in its travel policy , though it covers flight hijacking. Besides, even in policies that provide insurance against terror, insurers will not admit claims if policyholders visit destinations that are known to be facing such risks or knowingly violate safety regulations. If a policyholder were to suffer injuries after venturing out despite instructions from Paris authorities to stay indoors, her claim could come under a cloud.

“You also need to figure out whether the coverage applies only to a city that is specifically on your itinerary, or also extends to the other cities or to the country as a whole,“ added Kumar.

Health Insurance

Terrorism-related medical emergencies fall in the ambit of health insurance coverage. “Hospitalisation expenses for victims of terrorist attacks are covered as they fall under accidental injuries. The insured would also be covered for pre and post-hospitalisation and ambulance expenses as well as other expenses as per the policy coverage,“ Sasikumar Adidamu, chief technical officer -non-motor, Bajaj Allianz General Insurance.

This apart, several higher-end health covers in the space today cover medical emergencies across the world, and not just India as was the case earlier. “Moreover, insurers have tie-ups with agencies that can facilitate evacuation from the crisis location to a safer place. They can also organise air ambulance to transport the victim from primary care centres to hospitals of their choice,“ said Apte.

Personal Accident Insurance

Such covers compensate the policyholders for disabilities suffered due to accident or the nominees in case of the former’s death. “Domestic personal accident policies will cover death due to accidents, including terror attacks, whether in India or abroad,“ says Apte.

Home Insurance

While some home insurance policies such as the New India’s product come with an in-built terror cover, several others offer it as an add-on cover requiring extra premium. This terror insurance component covers damage directly caused by attackers and loss incurred during counter-terror action by security.

Source:-The Times of India (Mumbai)

Date:-17^th November,2015

MISSION HR MODERNISATION!

SOME INNOVATIVE WAYS TO MOVE TOWARDS MODERN HR

As the number of businesses increase, the result is tighter competition to provide the winning products and serv ices and HR leaders need to ask themselves whether they are paying enough attention to prepare for the modern era.HERE ARE WAYS IN WHICH HR LEADERS CAN LAY THE FOUNDATION FOR MODERN HR:

1 WRITE A PLAYBOOK FOR MANAGING TALENT

It is never too early to begin planning and thinking about the workforce you have today and envi sioning the workforce of the future. A sure way to address this challenge is to create a sales-like playbook that not only elevates the talent question within the company, but also documents critical aspects of the company HR’s strategy.

2 KNOW YOUR EMPLOYEES AS WELL AS YOUR CUSTOMERS

Today, it’s not enough to only know employee turnover rate and compensation from the reporting.There are far more interesting questions to ask your employees including sources of human generated data, such as location data, activity data, sensor data, finan cial data, and unstructured senti ment analysis.

3 HIRE “SCARY“ PEOPLE IN HR

HR, today, needs a new breed of analytics professionals called data scientists who apply curiosity and business knowledge to plot new strategies for HR.They don’t speak the language of HR, they ask how and why. Where can you find this person? You can find such a person in their business departments like finance, product development, or even the marketing department. With the right analytics guru and a database populated with HR and human-generated information, HR leaders will be prepared to turn HR into a strategic business function that drives growth instead of hindering it.

4 DIFFERENTIATE THROUGH A PERSONALISED EMPLOYEE EXPERIENCE

You will have to fight to keep and get the best people working for you.There are a number of resources available to help companies improve the employees’ experience. Social listening, using communities to on-board new hires, better tools for collaboration and mobile work, customised compensationbenefit packages, and flexible work styles are just a few examples.

5 BRING A COLLABORATIVE CULTURE

Social apps and collaboration technology have forever changed the way we live and work. When applied to the workplace, these same social technologies can improve communication and increase productivity.

6 RECRUIT FOR CONTINUOUS INNOVATION

Today’s job seekers have a variety of social channels to help them find a match. HR departments can take advantage of this trend by participating in channels that reach their target candidates. Predictive ranking tools help HR automate job board processes, while databases of suit able candidates allow companies to manage their own relationship with candidates.

-The author is applications ASEAN VP, Oracle

Source: Economic Times

Date : 03-11-2015