Two insightful stories about Indian firms' HR management..
'Foreign job seekers shun Indian cos'
"Job seekers from India rated Indian companies most positively, with a preference rating of 87 per cent... However Indian companies come last outside India; their preference rating drops to just 22 per cent," global HR consulting and outsourcing firm Aon Hewitt said.
The findings are based on a survey of nearly 13,500 job seekers spread across five Asian nations, including India. The participants were asked about their perception of companies from India and 11 other countries.
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Wipro gears up for talent war, scraps employment bonds for fresh graduates
Preparing for the talent war this year, IT major Wipro Technologies has scrapped the upfront payment of 75,000 towards employment bonds for new recruits. Until last year, fresh engineering recruits at Wipro were asked to make a payment of 75,000 while signing employment contracts. But in a year when demand for software services is improving and the war for talent has reached peak levels, the company is changing policies to attract freshers.
Like most IT firms, Wipro has also been grappling with high attrition after the industry witnessed a return in demand in jobs last year following two years of lull during the economic downturn . During high-growth periods, IT companies increase hiring at the lower rung to manage costs and increase bench strength and Wipro has also talked about ramping up recruitment at the bottom of the employee pyramid. The company plans to offer double-digit wage hikes this April to attract talent.
Wipro still has a service level agreement in place for a period of 15 months, which the company feels helps in improving the quality of hires and ensures that it does not lose employees after putting in significant effort in training. "The training and development program entails a considerable investment in terms of manpower, training hours, infrastructure and technological knowhow. This investment makes it necessary for us to expect the fresher to stay with us for a period so as to obviate an adverse impact on ongoing projects. However, for FY12, we have done away with the upfront payment and there is only a service level agreement in force," Priti Rajora, Global Head-Talent Acquisition, Wipro Technologies said.
Company employees feel this move will result in higher productivity as it will ensure that employees are not working just because they have made a considerable payment. "If an employee pays upfront money he/she would work with a different mindset. They will work just because they paid money to the company. Sometimes companies miss the best talent by asking for upfront money. Wipro's move has come at the right time when HR heads are running to all corners scouting for talent," a Wipro employee in Chennai said.
Several IT firms ask freshers to sign employment bonds, that restrict job-hopping for these employees for a certain period of time. IT firms justify these barriers for the restless code-jockeys citing huge training costs. Most IT firms have a three-six month training period before assigning new recruits to live projects, following which these bonds ensure that the employees stays with the company for a while. While engineering graduates joining TCS sign a two-year service agreement, Infosys has a one-year agreement which starts from the date of completing training programme.
Like most IT firms, Wipro has also been grappling with high attrition after the industry witnessed a return in demand in jobs last year following two years of lull during the economic downturn . During high-growth periods, IT companies increase hiring at the lower rung to manage costs and increase bench strength and Wipro has also talked about ramping up recruitment at the bottom of the employee pyramid. The company plans to offer double-digit wage hikes this April to attract talent.
Wipro still has a service level agreement in place for a period of 15 months, which the company feels helps in improving the quality of hires and ensures that it does not lose employees after putting in significant effort in training. "The training and development program entails a considerable investment in terms of manpower, training hours, infrastructure and technological knowhow. This investment makes it necessary for us to expect the fresher to stay with us for a period so as to obviate an adverse impact on ongoing projects. However, for FY12, we have done away with the upfront payment and there is only a service level agreement in force," Priti Rajora, Global Head-Talent Acquisition, Wipro Technologies said.
Company employees feel this move will result in higher productivity as it will ensure that employees are not working just because they have made a considerable payment. "If an employee pays upfront money he/she would work with a different mindset. They will work just because they paid money to the company. Sometimes companies miss the best talent by asking for upfront money. Wipro's move has come at the right time when HR heads are running to all corners scouting for talent," a Wipro employee in Chennai said.
Several IT firms ask freshers to sign employment bonds, that restrict job-hopping for these employees for a certain period of time. IT firms justify these barriers for the restless code-jockeys citing huge training costs. Most IT firms have a three-six month training period before assigning new recruits to live projects, following which these bonds ensure that the employees stays with the company for a while. While engineering graduates joining TCS sign a two-year service agreement, Infosys has a one-year agreement which starts from the date of completing training programme.
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