HR is a strategic function and no more a supportive department. The role of managers have become ever complex and to manage these functions organisations need to select the right set of people with the modern attitude and the latest knowledge.
Today’s market is highly competitive and business environment is also very challenging. In such a context organisations require highly skilled talented people to deliver the best and survive and further sustain in this competitive business world. Now organisations need people who could explore newer markets, innovate new technologies, learn new language of work and sustain business operations with enriched contributions. New age entrepreneurs are keen to develop competent and value based human assets. They desire their HR to be the best and be the champions of best HR policies.
Now, HR is a strategic function and no more a supportive department. The role of managers have become ever complex and to manage these functions organisations need to select the right set of people with the modern attitude and the latest knowledge.
A HR professional is a part of the business and no business decisions are taken today without the active involvement and contribution of HR professionals. HR professional’s role now is partnering, providing and preparing. Even today we can see that HR professionals are climbing up to the position of CEO, which was a dream for a HR professional few years back. Success and failure of business depends to a great extent on the functions of HR department. Today’s high attrition rate is also a function of poor HR policies. Retaining the employees has become a biggest challenge for the HR professionals.
Now employees are no more just employees but they are knowledge employees. In today’s knowledge economy, attracting and managing knowledge employee, training and developing them have become the major task of HR. Innovative methods and new systems like walk-in interview, tele-interviews, and referrals are being developed to ensure best people are attracted and selected. Even now company gives emphasise on re-recruitment, which is proven very successful. With the changing business scenario many new concepts have come in HR parlance like temping, head-hunting, reverse recruitment etc. The role of HR has become critical for any company’s success.
HR has enabled the organisations to quickly realise the people’s motivation and interest resulting sustainable business growth. Ensuring people’s contributions continuously match the business demands, therefore, become the responsibility of HR. Its major actions elate to select the best, retain the best, develop the best and provide the best.
Intensive competition among the companies across the countries, in today’s borderless world, has made the situation worse. Now, companies talk about productivity, target and delivery. The expectation of the company from its employees have increased manifold. Stretching of working hours is a common practice in industry. The concept of 24X7 work culture has also put lot of pressures on the employees. All these changes in work environment have brought fresh challenges for the HR professionals. To deliver under stress, employees expect a good work—environment and work culture. Quality of work life has become an important area with work-life balance concept in the forefront.
HR is more active to day and playing a more dynamic and significant role in business operations. The HR operational boundaries have expanded from mere legal and welfare to more global and international happenings. HR today benchmarks against the global best companies and competes with the world-class companies. Top class experts, executives and CEO’s at national and international levels are focusing on developing new standards of HR through out the world.
HR today has thus moved into an active mode. Its policies, tools and strategies are moving keeping in tune with the business demands.
HR now provides fast and more qualitative responses to people related issues. New concepts of recruiting, structuring organisations, labelling people, along with newer forms of compensation, innovative methods to retain and motivate employees are being worked out vigorously.
Business policies are pushing him to address newer issues and find very creative solutions. The new HR destination is very modern. HR today speaks e-language and operates all e-related systems and platforms. All HR processes are e-based. In order to support the speed of business, HR has become e-centric & web-centric.
E-based HR systems are being developed to provide on-line support to other executives and employees. Today e-HR, e-Recruitment, e-HR systems are very common. In fact, in the modern organisations, one could find lot of innovation of application of computers and e-based systems, which enable employees to have access to all the information, which they need, in company’s web site or in intra-net.
Posted By : Shubham Agarwal
PGDM 3 sem 'A'
Monday, September 14, 2009
Welcome to your new job...in HR
As companies keep paring away layers of management, project managers are finding themselves saddled with new HR responsibilities.
More and more companies are shifting their internal structures toward projects and away from traditional management methods in a bid to cut middle management costs and focus employees on adding value. As part of this new orientation, many are merging existing management functions into projects.
For project managers, the upside of this trend is more experience and involvement in critical business functions. The downside is the possibility of taking on tasks that business or line managers used to handle, such as policing e-mail/Internet policies, attending and hosting sales meetings, training, dealing with infrastructure and security issues, and administering nonproject budgets. Perhaps the most difficult adjustment to make is dealing with human resources (HR) issues.
Shift to HR-related duties has good and bad sides In project management, we tend to obsess over specification creep and mission drift. Shifting HR duties from the traditional management structure to the project manager is a wider form of the same phenomenon, in which your working life expands beyond your expectations of the job. For the project manager, taking on additional HR duties comes with opportunities and challenges.
One good thing to come from these new responsibilities is that companies are listening to project managers' opinions more closely, particularly about employee performance. This is beneficial in many respects, including:
It increases project managers' exposure to personnel-related experiences.
It gives creditable, even outstanding, performance on projects a chance to be recognised.
It allows project managers to criticise "unhelpful" attitudes about project work.
But I think these expanded job roles are being taken to the extreme. For instance, over the past year or so, I've conducted many interviews with job candidates, and I've taken part in numerous personnel reviews for individuals who aren't directly involved in any project work, such as administrators and marketing staff.
While I recognise the importance of providing employees with objective feedback, the extra functions can conflict with the extreme demands regular project work makes on a project manager's time. Suddenly assuming HR duties can dramatically affect your team's dynamics, too.
Change isn't always well received
When team members discover that you have a major influence over their prosperity and career prospects, their behavior often changes. They may start to act as individuals rather than as a team, possibly trying to impress you rather than working to benefit the project.
You may also have trouble stirring up a creative difference of opinion because team members may think that they have to agree with you. Some of them may even worry that any errors they make will be used against them in their performance reviews. If your team members see you as responsible for their failure to get a raise or a promotion, it may be difficult to work closely with them on projects.
Another possible reaction to your new responsibilities is that employees may stop experimenting and become completely risk-averse. They may even think of you as a corporate spy or, in practical terms, someone with whom they can't be completely honest about, say, their shaky grasp of an OLAP cube structure.
Suddenly being in charge of the future prospects of your team members can change your behavior too. You might realise that, temperamentally, you aren't suited to deal with both hard technical questions and -soft" people-related questions. It's one thing to have to remove people from a project; it's another thing entirely to fire a coworker. Then again, you may discover that you have a knack for managing people.
Some of the changes in your team may be less obvious. In my experience, project managers often provide a vent for people to let off steam about what they see as the inadequacies of the conventional management. Project managers should be seen as junior officers in the trenches, not the generals. Blurring that line can deprive workers of that vent.
One thing is certainâ€"extra duties will take more of your time. Be prepared to resist being stretched too thinlyâ€"even for financial incentives.
Seek training
If you decide to extend yourself professionally into HR management, at least get some training. Part of this training will undoubtedly address important legal issues. You'll need to be particularly careful about keeping records on individual performance and attitude. For example, I recently had to attend a legal hearing in connection with an unfair dismissal case. Thanks to my project management training, I'd kept a clear written record of events, and it saved me from an embarrassing public grilling.
Taking on additional human resources-related tasks is a difficult adjustment to make. I think this issue is only going to become more contentious as IT pros emerge from the current IT malaise and start to think about career development, rather than just hanging in there to keep their jobs.
posted by: Pallavi Singh
PGDM 3sem 'B'
Jet Airways lays off 800 staff
Jet Airways has cut down on the number of flights it operates
India's largest private airline Jet Airways has laid off 800 employees as it cuts flights amid soaring costs.
The company said cabin crew hired for a planned expansion programme which had been suspended would lose their jobs.
Hundreds of members of staff gathered in the city of Mumbai (Bombay) to protest at the move.
Jet says it plans to cut more jobs. Its announcement follows a recent cost-cutting alliance with India's second largest private airline, Kingfisher.
The deal, announced on Monday, will include route sharing and the joint use of crews - although Jet says the job cuts are not linked to the tie-up.
The two airlines, which have nearly 60% of the market in India, said the rise in the price of jet fuel by a quarter this year was a major factor in wanting to join forces in order to cut costs.
All they're giving is one month's basic salary. How can anyone manage?
Manav,
Former Jet employee
Indian airline dreams hit turbulence
Shock at lay-offs
According to reports, Kingfisher Airlines is also considering laying off some of its staff.
India's aviation industry has boomed as the country's economy has grown in recent years, with new airlines offering bargain flights around the country.
But rising fuel costs over the past year have pushed up ticket prices, and fewer passengers than predicted are opting to fly.
'Painful'
"As a first step, around 800 flight attendants, recently recruited for the planned expansion programme, which has now been suspended, have been released," a statement issued by Jet Airways said.
The company says it plans 1,900 job cuts in total.
Mr Mallya (left) and Mr Goyal need to save money
"The other categories include probationary and unconfirmed personnel in other areas, including cockpit crew and management personnel, to reflect the lower number of flights and seats offered."
The airline says it will be offering 15% fewer flights than scheduled this winter because of "declining traffic volumes".
Meanwhile, hundreds of the airline's staff gathered in uniform in Mumbai to protest at being sacked.
Some cabin crew said they had received letters terminating their employment on Tuesday, while many others had received letters on Wednesday.
Some said they had yet to receive letters.
One former Jet employee, Natasha, said: "I was working for another airline before this. But I joined this to be in India. I just flew last week. There are no complaints. How can they terminate our jobs just one fine day. The letter gives no reason. This is no way to go about things."
Another, Manav, said: "I'm not from Mumbai. I've taken a place on rent. Paid deposit, spent so much on courses. All they're giving is one month's basic salary. How can anyone manage?"
In its statement, Jet Airways said its alliance with Kingfisher Airlines had nothing to do with the job cuts.
"We wish to clarify that the reconsideration of our operations has been ongoing for some time now and this adjustment in personnel numbers did not result from the planned alliance with Kingfisher Airlines.
"If at all, improved economies in other areas would help obviate such a step in the future."
'Benefits'
The two airlines, which have a combined fleet of 189 aircraft, say their alliance will be of mutual benefit.
They say there was a 33% increase in passenger numbers last year, but growth this year has slowed to 7.5%.
Jet Airways chairman Naresh Goyal spoke of "huge cost savings and revenue enhancement opportunities".
In recent years, more than a dozen private airlines have sprung up in India.
Recent years have seen consolidation. Last year Kingfisher merged with another rival airline, Deccan, and Jet, the country's largest domestic carrier, bought Air Sahara.
posted by : shubham agarwal
pgdm 3sem
Jet Airways has cut down on the number of flights it operates
India's largest private airline Jet Airways has laid off 800 employees as it cuts flights amid soaring costs.
The company said cabin crew hired for a planned expansion programme which had been suspended would lose their jobs.
Hundreds of members of staff gathered in the city of Mumbai (Bombay) to protest at the move.
Jet says it plans to cut more jobs. Its announcement follows a recent cost-cutting alliance with India's second largest private airline, Kingfisher.
The deal, announced on Monday, will include route sharing and the joint use of crews - although Jet says the job cuts are not linked to the tie-up.
The two airlines, which have nearly 60% of the market in India, said the rise in the price of jet fuel by a quarter this year was a major factor in wanting to join forces in order to cut costs.
All they're giving is one month's basic salary. How can anyone manage?
Manav,
Former Jet employee
Indian airline dreams hit turbulence
Shock at lay-offs
According to reports, Kingfisher Airlines is also considering laying off some of its staff.
India's aviation industry has boomed as the country's economy has grown in recent years, with new airlines offering bargain flights around the country.
But rising fuel costs over the past year have pushed up ticket prices, and fewer passengers than predicted are opting to fly.
'Painful'
"As a first step, around 800 flight attendants, recently recruited for the planned expansion programme, which has now been suspended, have been released," a statement issued by Jet Airways said.
The company says it plans 1,900 job cuts in total.
Mr Mallya (left) and Mr Goyal need to save money
"The other categories include probationary and unconfirmed personnel in other areas, including cockpit crew and management personnel, to reflect the lower number of flights and seats offered."
The airline says it will be offering 15% fewer flights than scheduled this winter because of "declining traffic volumes".
Meanwhile, hundreds of the airline's staff gathered in uniform in Mumbai to protest at being sacked.
Some cabin crew said they had received letters terminating their employment on Tuesday, while many others had received letters on Wednesday.
Some said they had yet to receive letters.
One former Jet employee, Natasha, said: "I was working for another airline before this. But I joined this to be in India. I just flew last week. There are no complaints. How can they terminate our jobs just one fine day. The letter gives no reason. This is no way to go about things."
Another, Manav, said: "I'm not from Mumbai. I've taken a place on rent. Paid deposit, spent so much on courses. All they're giving is one month's basic salary. How can anyone manage?"
In its statement, Jet Airways said its alliance with Kingfisher Airlines had nothing to do with the job cuts.
"We wish to clarify that the reconsideration of our operations has been ongoing for some time now and this adjustment in personnel numbers did not result from the planned alliance with Kingfisher Airlines.
"If at all, improved economies in other areas would help obviate such a step in the future."
'Benefits'
The two airlines, which have a combined fleet of 189 aircraft, say their alliance will be of mutual benefit.
They say there was a 33% increase in passenger numbers last year, but growth this year has slowed to 7.5%.
Jet Airways chairman Naresh Goyal spoke of "huge cost savings and revenue enhancement opportunities".
In recent years, more than a dozen private airlines have sprung up in India.
Recent years have seen consolidation. Last year Kingfisher merged with another rival airline, Deccan, and Jet, the country's largest domestic carrier, bought Air Sahara.
posted by : shubham agarwal
pgdm 3sem
India's ICICI hires in the U.K
global presence outside India.ICICI OneSource also aims to open...Mukerji, chief executive of ICICI OneSource, says his company...subsidiary - are carrying out this strategy to target the life assurance...UK behind the US and Japan. ICICI has three other onshore facilities...
Neha verma, PGDM 2008-10
Sec-'A'
Neha verma, PGDM 2008-10
Sec-'A'
scholars
Welcome to the Online Outreach Center of THE SECRET LIFE OF THE BRAIN!
The Online Outreach Center brings you resources and tools, and gives our entire outreach community the opportunity to work together.
The Secret Life of the Brain
Richard Restak, M.D.
A clear, comprehensive and beautifully illustrated companion book by best-selling author and renowned neuropsychiatrist Richard Restak, reveals what brain science is uncovering about the mysteries and magic of the brain from birth to old age. For more information, visit The Dana Press. To order a copy, visit the Joseph Henry Press.
Our outreach materials are designed to inspire high school students, as well as the adult audience, to learn more about the normal development and major disorders of the brain from conception through old age. The outreach includes a special focus on teens to generate excitement and enthusiasm for science among youth of all backgrounds, demonstrate the relevance of science to everyday lives, support curricula with related activities in informal settings, and encourage careers in science. For adults, the series, print materials, and online will be used in staff training and community health workshops to examine the ways the brain changes from birth to old age and to raise awareness about brain-related illness and disability.
The goals for the outreach effort are:
Support science curricula with related activities in informal settings.
Generate a greater interest in science and in pursuing science-related activities in a variety of settings among youth of all backgrounds.
Reach minority, disadvantaged, female, and other underserved youth populations to excite them about science, develop general science literacy, foster an understanding of the relationship of science to their everyday lives, and encourage the pursuit of careers in science.
Inform the audience of the place of science in a variety of aspects of contemporary life and of the critical role that knowledge in these areas plays in many social and political decisions to enable the audience to make responsible decisions about issues in their own lives.
Provide an adult audience with a background and understanding of basic principles of science and foster an excitement and enthusiasm for further exploration.
The Online Outreach Center brings you resources and tools, and gives our entire outreach community the opportunity to work together.
The Secret Life of the Brain
Richard Restak, M.D.
A clear, comprehensive and beautifully illustrated companion book by best-selling author and renowned neuropsychiatrist Richard Restak, reveals what brain science is uncovering about the mysteries and magic of the brain from birth to old age. For more information, visit The Dana Press. To order a copy, visit the Joseph Henry Press.
Our outreach materials are designed to inspire high school students, as well as the adult audience, to learn more about the normal development and major disorders of the brain from conception through old age. The outreach includes a special focus on teens to generate excitement and enthusiasm for science among youth of all backgrounds, demonstrate the relevance of science to everyday lives, support curricula with related activities in informal settings, and encourage careers in science. For adults, the series, print materials, and online will be used in staff training and community health workshops to examine the ways the brain changes from birth to old age and to raise awareness about brain-related illness and disability.
The goals for the outreach effort are:
Support science curricula with related activities in informal settings.
Generate a greater interest in science and in pursuing science-related activities in a variety of settings among youth of all backgrounds.
Reach minority, disadvantaged, female, and other underserved youth populations to excite them about science, develop general science literacy, foster an understanding of the relationship of science to their everyday lives, and encourage the pursuit of careers in science.
Inform the audience of the place of science in a variety of aspects of contemporary life and of the critical role that knowledge in these areas plays in many social and political decisions to enable the audience to make responsible decisions about issues in their own lives.
Provide an adult audience with a background and understanding of basic principles of science and foster an excitement and enthusiasm for further exploration.
SCHOLARS
BPCL is passionate about the 'Generation Next', and thus also supports the various education initiatives at all levels. BPCL scholars are a group of India students who yearly, seek assistance from BPCL in doing their post graduation, both in India & abroad.
BPCL supports the students, the future of tomorrow, the fuel of tomorrow’s growth with all humility and passion.
Currently we are inviting applications from students who are pursuing higher studies in Universities/Institutes abroad for which firm admissions have been obtained for sessions starting between July 2008 and November 2008
BPCL supports the students, the future of tomorrow, the fuel of tomorrow’s growth with all humility and passion.
Currently we are inviting applications from students who are pursuing higher studies in Universities/Institutes abroad for which firm admissions have been obtained for sessions starting between July 2008 and November 2008
Oil India IPO subscribed 31 times; QIBs bid the most
MUMBAI: Oil India
profits since its valuation is lower than rivals ONGC and Cairn India
The 2.65-crore share sale that ended on Thursday was subscribed 31 times, with institutional investors making maximum bids, while retail investors, who were burnt in the past IPOs, such as NHPC and Adani Power, were less enthusiastic. “OIL is offering shares at a valuation that translates into a EV/2P reserves (enterprise value divided by proven and probable reserves) of $4.1 compared to $5.4 for ONGC, $12.8 for Cairn and $7-8 for most international players,” said a note by brokerage house HDFC Securities to clients.
For oil companies, the enterprise value to proven and probable reserves are used as a gauge for valuation. For manufacturing companies price-to-earnings multiple is used as a metric. The institutional portion of the issue was subscribed 54 times, the non-institutional (mostly high net worth individuals and some corporates) nearly 11 times, with almost the entire bids coming on the last day, and the retail portion nearly two times. Oil India
In unofficial trading, the so-called grey market, shares are trading at a premium of Rs 35- 40, some brokers, who did not want to be identified, said. The date of listing is still not known. “Higher production of oil and gas, going forward, growing accretion to acreage, lower subsidy burden due to soft crude oil prices, high success ratio and operational efficiency, greater use of better technology (eg horizontal well technology), upsides from pipeline and downstream business, upside from likely revision in gas APM (administered price mechanism) prices, better financial and return ratios — all this could mean that the difference in valuation attracted by ONGC and OIL could narrow,” the HDFC Securities note said.
Till Wednesday, most brokers were of the opinion that the retail portion may not be fully subscribed since their investments in NHPC and Adani Power have already eroded in value.
POSTED BY - AKHILESH KUMAR SHARMA
PGDM III SEM
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