IT Sector - Quarterly Performance Reviews

With the war for talent raging on companies are adopting newer strategies to hire and retain top talent.

Performance appraisal is being done on an annualized basis and the anniversary hikes are doled out based on the performance.  For outstanding performers companies are promoting to higher level positions.

To retain top talent, IT major Wipro has now decided to review performance on a quarterly basis rather than annual. Around 70% of employees seen to be high performers stand to benefit from this move. “We doubled our fresher intake for FY22 compared to previous year. Our plan is to double this again in FY23. We have decided to increase the frequency of promotion cycles for 70% of our colleagues from junior bands,” Wipro CEO Thierry Delaporte said after the company’s January-March earnings.

Anniversary Hikes

the top five IT companies  were earlier giving hikes in the range of 6-10% to the lower-end performers in select skillsets in the digital space have now hiked this slab to 15-25%

Once the pressure on talent supply eases companies will revert to anniversary hikes and performance reviews.

Growing Demand 

Nasscom has estimated that the demand-supply gap for digital talent will increase 3.5X to around 1.4-1.8 million jobs by 2026.

The gap between supply and demand is widening year after year putting pressure on wage inflation.  This will eventually lead to margin contraction impacting the overall profitability of Software Services companies.

Skill mismatch

As per the estimates the demand for the skills are different while the availability of the technical skills leading to disruption.  

Strategies -

1. Increase entry level salaries during campus hiring

2. Promoting high performers - change in policy

3. Quarterly Performance Reviews

4. Retention Bonus

5. Hire aggressively with decent spike

6. Liberal perks

7. Overseas assignments and postings

8. Reskilling the engineering team

9. Hire Train Deploy 

10.Pro-active hiring and keeping a bench 

Leadership Model by BCG

 An agile structure can be put in place relatively quickly, but in order to scale, agile requires a new organizational operating model, beyond minor changes to the leadership and development models. 

All about HR Mapping

Image Source : CIPD UK

HR Mapping involves the following steps -

1. Business Vision Mission Statement
2. HR Policies and Process framework
3. HR Planning
4. Talent Acquisition
5. Succession Planning
6. Learning & Development
7. Performance Management
8. Statutory Compliance's
9. HR Software and HRMS
10. Exit Management

For a detailed and comprehensive study get in touch with us at hrinindia at gmail dot com or whatsapp HR 98800-80321

International Cricketer to Cab Driver

Strange how fate changes destiny !

The life of retired Pakistan off spinner Arshad Khan is a eye opener for all celebrities.  Take nothing for granted in life.On Monday, a post on social networking website Facebook claimed that the former cricketer is driving Uber Taxi in Sydney."He was the driver of our cab and we started chatting, he told me that he is from Pakistan and lives in Sydney. Also that he has been to Hyderabad many times when he was playing for Lahore Badshahs something in ICL.

After which I asked him his full name and then I was shocked to see his face which I could partially recognise. I shook has his hand and left," Ganesh Birle posted on his Facebook account on Monday."He was avoiding the conversation all the time, but at the same time he couldn't help but talk about his India connection. Imagine he introduced himself as 'I from Pakistan [sic] but I have been here in Sydney for long time now'. Also like a good Uber driver he offered us water and stuff when we sat in the car," he wrote.

Arshad made his debut for Pakistan in 1997-98 against West Indies and went on to play nine Tests and 58 ODIs. During his international career that effectively ended after he signed up for the rebel Indian Cricket League, he picked 32 Test and 56 ODI wickets. Both his last Test and ODI came against India at Bangalore and Rawalpindi respectively.

Life Lessons :

1. Make hay while sun shines - save for a rainy day
2. Do not change your life style
3. Be with honest and sincere friends
4. Accept reality and do what you are good at
5. Good and Bad times do not last longer

Most Attractive Employer in India 2015

Congrats to the HR teams of Google India, Sony India, Tata Steel, P&G and Honda India for winning award for ‘Most Attractive Employer in India’

It is indeed an award which identified most deserving ones !!

‪#‎HRinIndia‬

Most Attractive Employer in India 2015

Challenges of Recruitment Consulting

Raghav speaking about Recruiter Challenges on 31st Jan 2015

I had the privilege to address a gathering of Recruiters at Hotel Citadel, Bangalore @ the inaugural function of Geo Recruiters Association Bangalore. The following were some points which was discussed.

Right Time :

these are indeed interesting times, as we speak there is lot of activity going in the background. The hiring plans of the leading IT companies have been frozen and if all goes there will be groundswell opportunities, knocking at the doors of the deserving candidates. Lateral hiring will see sharp upward swing as most companies jostle to hire the best.

Right Place :

Recent news mentions that the biggest lease of commercial / office space was done in Bangalore topping the list with 4.5 million square feet for the year 2014. This typically means there will be more and more hiring to fill up these work places.

Experienced Vs Freshers :

With shoe string budgets a recruiter often finds at sea to make a choice between a Fresh Recruiter and an experienced one. The general feeling is that we can hire fresh graduates and get the work done. I have a very different view on this, in my opinion as a recruiter your client would likes you to close the positions as quick as you can. In this context we should aim at faster closures by hiring a veteran who has expertise of end to end recruitment life cycle.

Hiring an experienced recruiter with 4-6 years of experience will be an ideal choice since you can add more freshers under the experienced ones. The average closure an experienced person should manage is anywhere between 3 - 5 closures with a billing of INR 1-1.5 lakhs per month.

Pushing for Peak performance :

In this era of speed recruiting the question many faced in the audience was - Is it better to push medoicre for peak performance, or push the high performers. Majority of the participants felt it would be good to push medoicre to achieve more. My own experiences with the team pushing the top performances will give greater results. It has been proven beyond point that for attaining excellence and getting more closures go after your top performers and continuously challenge them !!

Candidates Indifference :

With the job markets opening up the race to reach to the right candidate is hotting up. Most of the consultants have naukri and monster and there is a virtual rat race to talk to the candidates get them interested and push the resumes to the client for selection. Candidates do not even bother to send in their updated cvs instead they ask recruiters to pick it up from the job portals.

Question - A candidate who cannot even forward his cv how serious is he to take the F2F interviews and eventually join your client ??  It is better to drop such cvs as they are not very serious about making a job change.

Answer : Avoid an indifferent candidate who is not even bothered to push the cv from his / her soft copy of cv through smart phones. They will tend to drop off quite early stage of selection process.

With the era of "No Shows" the life of a recruiter is always on the edge, not knowing whether the candidate who picked up offer will join till they report to work.

Let us pray better sanity prevails and there is going to be signs of 'stability' in the worlds most 'unpredictable business' - recruiting.

Re-skill must for IT Professionals

As the time changes so does the technologies.

What was hot in 2000s and 2005 is no longer relevant in todays fast changing IT Products /Services landscape.  Read the current trends to see the paradigm shift in tech stack !!

http://economictimes.indiatimes.com/news/news-by-industry/jobs/threat-of-job-loss-it-executives-re-skill-themselves-in-newer-technologies/articleshow/25663748.cms

Raghav
#HRinIndia

Falling Rupee - Hiring Challenges in India

The depreciating value of rupee clubbed with a slowing global economy is making hiring decisions a "challenging" task for many companies, say experts. 

"A falling rupee makes imports costlier, pushes up the costs of imported raw materials, and increases the external borrowing and repayment cost, to name a few. This trend clubbed with a slowing global economy, makes hiring decisions challenging for companies," said HR firm Randstad India president (Staffing) Aditya Narayana Mishra. 

Depreciation of rupee would result in increased inflation and thus, stagnant growth of the economy. And hence, it would affect all industries and the human resource domain would be no exception. 

Rupee sank to an all-time low of 66 last week against US dollar in mid-session trade, dragged down by a heavy month-end demand for the US currency. 

According to executive search firm GlobalHunt's MD Sunil Goel, "Impact of rupee depreciation on hiring will be more in sectors like manufacturing, power, oil and gas, automotive sectors, electronics, telecommunications". 

Goel further noted that companies in these sectors may look for manpower retrenchment to cope with the sudden financial crisis due to steep rise in import cost (of machineries, equipments, mobile devices, among others). 

Echoing similar sentiments, ApnaCircle.com founder and CEO Yogesh Bansal said, "Rupee depreciation would affect all industries and HR will be no exception. The number of people being hired will be less or the salaries would be kept constant or reduced." 

However, the IT industry is likely to gain in the short term because of depreciating rupee and India-based IT companies' revenues and profits will see an upside. 

However, it will be interesting to observe any changes to the revenue and hiring guidance of the IT majors for the upcoming quarters, experts said. 

Another segment that is going to get severely impacted is hiring of expat talent, as it would be an expensive luxury for Indian companies. 

"Organisations may start evaluating the viability of having a large expatriate pool here, since their compensation costs will certainly increase," said society for human resource management (SHRM)'s knowledge adviser Simran Oberoi, adding, local talent which can fit into the roles earlier earmarked for expats, is now available. 

Raghav
Founder

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Bangalore 560084

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