Get Free Google Tools Here
Subscribe to MBA related News
Friday, January 26, 2007
Learn & earn with a little twist
NEW DELHI: Here’s a new HR twist to the good old “learn-and-earn” credo. Companies are now going a step beyond campus placements as they increasingly look to net talent that’s just about to blossom.
Welcome to the idea of ‘pre-hiring employment’ wherein engineering and MBA grads get to spend half or even the whole of their final semester with prospective employers. Some of the companies which have adopted this idea include Nucleus Software, ICICI Prudential, SunGard, IFB and Lason.
Selected candidates are entitled to a stipend and once they are out of campus, it graduates to a full salary. In the interim period, they get to work on live projects at the back end without big responsibilities. Employers say it works as a bootcamp to chaff out misfits, who would otherwise leave the company after spending a couple of months on the job. For students, it is like an extended internship to know the company better.
“It’s a no-obligation arrangement. One of the ideas behind the concept is to ensure that if the student happens to join, then the initial training programme can be integrated with the time they spend in the firm before joining it,” says Nucleus Software’s HR head Ravi Verma.
SunGard Offshore Services India’s chief executive officer Akila Krishnakumar says, “Employers have come to realise ‘earlier the better’ when it comes to getting people on board.” Many other companies are waiting in the wings. CSC India’s HR director Neelam Gill Malhotra says: “It is a very interesting concept. We are looking at the option of such an arrangement in the future.”
While summer internships are fairly common, ‘pre-hiring employment’ is different. As against the engineering students who spend close to six months of their final year of the course with the company, MBA grads spend their entire final semester of about 4-5 months with the company. For engineering students, the model varies between six months at a stretch and two blocks of three months each.
Recruitment firm TMI First’s chief executive officer Deependra Singh Sengar, says: “It is something associated with lower tier institutes, which are vying for greater industry exposure, as it is not in-built in their curriculum. But there are some companies who are hiring a large number of freshers and they have themselves gone ahead and got such students on board.”
The concept comes in two models. The more common approach is where companies tie up with the institutes — mainly engineering institutes — to build a customised curriculum for the final semester in line with their requirements. Here, students continue to stay on the campus. The other model is where students actually join the company for a stipend.
In these cases, companies strike an arrangement with the institute to build their final semester course with on-the-job training. So the degree is provided based on an interview or test associated with the time spent with the respective companies. Some organisations prefer to sign employment bonds.
Source: Economictimes 16-12-2006
Welcome to the idea of ‘pre-hiring employment’ wherein engineering and MBA grads get to spend half or even the whole of their final semester with prospective employers. Some of the companies which have adopted this idea include Nucleus Software, ICICI Prudential, SunGard, IFB and Lason.
Selected candidates are entitled to a stipend and once they are out of campus, it graduates to a full salary. In the interim period, they get to work on live projects at the back end without big responsibilities. Employers say it works as a bootcamp to chaff out misfits, who would otherwise leave the company after spending a couple of months on the job. For students, it is like an extended internship to know the company better.
“It’s a no-obligation arrangement. One of the ideas behind the concept is to ensure that if the student happens to join, then the initial training programme can be integrated with the time they spend in the firm before joining it,” says Nucleus Software’s HR head Ravi Verma.
SunGard Offshore Services India’s chief executive officer Akila Krishnakumar says, “Employers have come to realise ‘earlier the better’ when it comes to getting people on board.” Many other companies are waiting in the wings. CSC India’s HR director Neelam Gill Malhotra says: “It is a very interesting concept. We are looking at the option of such an arrangement in the future.”
While summer internships are fairly common, ‘pre-hiring employment’ is different. As against the engineering students who spend close to six months of their final year of the course with the company, MBA grads spend their entire final semester of about 4-5 months with the company. For engineering students, the model varies between six months at a stretch and two blocks of three months each.
Recruitment firm TMI First’s chief executive officer Deependra Singh Sengar, says: “It is something associated with lower tier institutes, which are vying for greater industry exposure, as it is not in-built in their curriculum. But there are some companies who are hiring a large number of freshers and they have themselves gone ahead and got such students on board.”
The concept comes in two models. The more common approach is where companies tie up with the institutes — mainly engineering institutes — to build a customised curriculum for the final semester in line with their requirements. Here, students continue to stay on the campus. The other model is where students actually join the company for a stipend.
In these cases, companies strike an arrangement with the institute to build their final semester course with on-the-job training. So the degree is provided based on an interview or test associated with the time spent with the respective companies. Some organisations prefer to sign employment bonds.
Source: Economictimes 16-12-2006
India's key destination for international job seekers
When Yossi Yehiel, V-P, operations, Tejas Networks, told his family that he was going to work in India, there was a big hue and cry. Yehiel had previously worked for 3Com in Israel where he managed worldwide contract manufacturing business.
Tejas needed Yehiel’s expertise to manage its contract manufacturing relationships with global suppliers, a skill that was difficult to find in India. Says Yehiel: “People from Israel usually go abroad to work in the US, the UK or Canada.
But I chose India, because the opportunity here was very good.” A few years ago who would have thought that an Israeli engineer would want to work for an Indian startup. Now, Yehiel says a lot of his friends are interested in knowing about other openings in India.
MNCs like Nestle and Coca-Cola have had expats running the show in India for many years. But unlike five or six years ago when expats came in at very senior positions and could only be seen in large global corporations, now they are working in Indian firms, starting businesses and are even joining at middle and entry levels. What’s more they are coming from countries as diverse as Korea and Austria.
“There is no need to sell India anymore to expatriates,” says Peter J Leitgeb, president, Hotel Leelaventures. Leitgeb, who has 18 years of work experience with the Kempinski and the Steinberger Group hotels around the world, says: “India is one of the fastest growing economies in the world and offers a great quality of life at very affordable rates.” He says: “An annual medical checkup in India costs $150, whereas in Germany it costs $1,400.”
When New Yorker Joseph Sigelman first came to India 22 years ago, things were so bad that he promised himself he would never live here. Seven years ago, Sigelman, an MBA from Harvard Business School, chucked a well paying job with Goldman Sachs and moved to Chennai to set up OfficeTiger, a BPO firm, along with his Princeton classmate.
OfficeTiger works with top 12 investment banks in the world and has grown to 10,000 employees. Says Sigelman: “People ask me why we started OfficeTiger in a conservative place like Chennai. But I find that to be a good trait, it means people are loyal and hardworking.” The present generation of expatriates in India understands the sensitivities and culture much better.
Roy Gilbert, director, online sales and operations, Google India, stumped his Indian classmates at Stanford Business School when he told them he was headed to Hyderabad to set up Google’s operations.
Gilbert, a former US Navy officer, says Google looked at several countries before deciding on India. Says Gilbert: “I worked in the Silicon Valley for seven years. But the pace of growth and excitement in India surpasses that of Silicon Valley.”
It isn’t just work that keeps the expatraiates happy in India. They spend time in exploring the country and understanding local cuisine and culture. When Harry Ahn, V-P, IT business, Samsung India, first moved to Delhi, he said he hated the place.
Three years later, Ahn says when he went to Korea this time he found himself watching Zee TV on satellite channel. Ahn, who considers the India experience an important milestone in his career, says the only regret he now has is that he can’t spend enough time with his mother who lives in Korea.
Source: Economictimes 29-12-2006
Tejas needed Yehiel’s expertise to manage its contract manufacturing relationships with global suppliers, a skill that was difficult to find in India. Says Yehiel: “People from Israel usually go abroad to work in the US, the UK or Canada.
But I chose India, because the opportunity here was very good.” A few years ago who would have thought that an Israeli engineer would want to work for an Indian startup. Now, Yehiel says a lot of his friends are interested in knowing about other openings in India.
MNCs like Nestle and Coca-Cola have had expats running the show in India for many years. But unlike five or six years ago when expats came in at very senior positions and could only be seen in large global corporations, now they are working in Indian firms, starting businesses and are even joining at middle and entry levels. What’s more they are coming from countries as diverse as Korea and Austria.
“There is no need to sell India anymore to expatriates,” says Peter J Leitgeb, president, Hotel Leelaventures. Leitgeb, who has 18 years of work experience with the Kempinski and the Steinberger Group hotels around the world, says: “India is one of the fastest growing economies in the world and offers a great quality of life at very affordable rates.” He says: “An annual medical checkup in India costs $150, whereas in Germany it costs $1,400.”
When New Yorker Joseph Sigelman first came to India 22 years ago, things were so bad that he promised himself he would never live here. Seven years ago, Sigelman, an MBA from Harvard Business School, chucked a well paying job with Goldman Sachs and moved to Chennai to set up OfficeTiger, a BPO firm, along with his Princeton classmate.
OfficeTiger works with top 12 investment banks in the world and has grown to 10,000 employees. Says Sigelman: “People ask me why we started OfficeTiger in a conservative place like Chennai. But I find that to be a good trait, it means people are loyal and hardworking.” The present generation of expatriates in India understands the sensitivities and culture much better.
Roy Gilbert, director, online sales and operations, Google India, stumped his Indian classmates at Stanford Business School when he told them he was headed to Hyderabad to set up Google’s operations.
Gilbert, a former US Navy officer, says Google looked at several countries before deciding on India. Says Gilbert: “I worked in the Silicon Valley for seven years. But the pace of growth and excitement in India surpasses that of Silicon Valley.”
It isn’t just work that keeps the expatraiates happy in India. They spend time in exploring the country and understanding local cuisine and culture. When Harry Ahn, V-P, IT business, Samsung India, first moved to Delhi, he said he hated the place.
Three years later, Ahn says when he went to Korea this time he found himself watching Zee TV on satellite channel. Ahn, who considers the India experience an important milestone in his career, says the only regret he now has is that he can’t spend enough time with his mother who lives in Korea.
Source: Economictimes 29-12-2006
MBAs catch the commodities fever
NEW DELHI: Management graduates are set to roll up their sleeves and get their hands dirty. And, it is the commodity fever that is causing this phenomenon. Organised retail, FMCG companies, broking houses and old agri-businesses are all hiring management graduates with a modicum of commodity background to hedge their bets.
On the other hand, MBAs from international B-schools looking for an emerging market exposure prefer to go rural, says S Siva Kumar, ITC’s e-choupal head. Aware of the talent crunch, most IIMs and reputed B-schools have started courses on commodities and agri-businesses.
Simultaneously, MCX and NCDEX have tied up with B-schools to create courses around commodities. MCX took commodity training to another level by launching VISTAS. Over 450 teams from various B-schools participated in this virtual war. “The new entrants have become institutionalised. Hence, they are looking at a new dimension of professional corporate services to enrich their investments, which are essentially agri assets,” says Joseph Massey, deputy MD, MCX.
NCDEX has been conducting 30-hour commodity modules for several management institutes such as Narsee Monjee, Symbiosis, IIM-B and MDI. If business geeks say that they get their intellectual kick from new markets, then commodities is the fad in Indian B-schools. That has sent commodity exchanges on an overdrive to leverage that casual interest among management students across B-schools. A recent informal survey among IIM-A students threw up startling results. Strikingly, more than 300 students in the random sample of 800 students were keen to board the commodity bandwagon.
The faculty was not too far behind. “With the integration of Indian commodity markets with the world and a range of instruments available such as futures and options, the sector has come to offer great scope for professional managerial talent,” says Jayanth Varma, dean & professor of finance, IIM-A.
With increasing private sector involvement in the commodities sector, there is a much larger role for corporates to play. The changing consumption profile from pure cereal to milk and poultry has made commodities more challenging. The sector is increasingly becoming globally-integrated and organised. “Rural has become glamorous with a larger number of management graduates getting attracted towards it,” says Mr Kumar. Incidentally, when the ITC goes to IIMs for hiring, the e-choupal initiative attracts maximum candidates.
Sample this: 39% of Food Bazaar’s sales are from groceries. The better the just-in-time procurement and tight supply chain management, the better the bottomline looks. Essentially, commodity expertise helps with the complex laws and taxation structure of a mandi by managing the supply chain in a retail format.
In brokerages and FMCG companies, they assist in hedging and trading activities. “Commodity is an extremely volatile sector and with the lack of talent, there are very few research-based calls made, which result in increased volatility. But, with good money and potential, this sector has become extremely attractive for us,” says Shardul Sharma, who joined Sharekhan as a commodity analyst after his MBA. With global exchanges showing interest in their Indian counterparts, the sky is the limit.
Source: Economictimes 30-12-2006
On the other hand, MBAs from international B-schools looking for an emerging market exposure prefer to go rural, says S Siva Kumar, ITC’s e-choupal head. Aware of the talent crunch, most IIMs and reputed B-schools have started courses on commodities and agri-businesses.
Simultaneously, MCX and NCDEX have tied up with B-schools to create courses around commodities. MCX took commodity training to another level by launching VISTAS. Over 450 teams from various B-schools participated in this virtual war. “The new entrants have become institutionalised. Hence, they are looking at a new dimension of professional corporate services to enrich their investments, which are essentially agri assets,” says Joseph Massey, deputy MD, MCX.
NCDEX has been conducting 30-hour commodity modules for several management institutes such as Narsee Monjee, Symbiosis, IIM-B and MDI. If business geeks say that they get their intellectual kick from new markets, then commodities is the fad in Indian B-schools. That has sent commodity exchanges on an overdrive to leverage that casual interest among management students across B-schools. A recent informal survey among IIM-A students threw up startling results. Strikingly, more than 300 students in the random sample of 800 students were keen to board the commodity bandwagon.
The faculty was not too far behind. “With the integration of Indian commodity markets with the world and a range of instruments available such as futures and options, the sector has come to offer great scope for professional managerial talent,” says Jayanth Varma, dean & professor of finance, IIM-A.
With increasing private sector involvement in the commodities sector, there is a much larger role for corporates to play. The changing consumption profile from pure cereal to milk and poultry has made commodities more challenging. The sector is increasingly becoming globally-integrated and organised. “Rural has become glamorous with a larger number of management graduates getting attracted towards it,” says Mr Kumar. Incidentally, when the ITC goes to IIMs for hiring, the e-choupal initiative attracts maximum candidates.
Sample this: 39% of Food Bazaar’s sales are from groceries. The better the just-in-time procurement and tight supply chain management, the better the bottomline looks. Essentially, commodity expertise helps with the complex laws and taxation structure of a mandi by managing the supply chain in a retail format.
In brokerages and FMCG companies, they assist in hedging and trading activities. “Commodity is an extremely volatile sector and with the lack of talent, there are very few research-based calls made, which result in increased volatility. But, with good money and potential, this sector has become extremely attractive for us,” says Shardul Sharma, who joined Sharekhan as a commodity analyst after his MBA. With global exchanges showing interest in their Indian counterparts, the sky is the limit.
Source: Economictimes 30-12-2006
IIM-A student offered $233,000 salary
The race to acquire the best students from Indian Institute of Management, Ahmedabad's first batch of the Post Graduate Programme for Executives is leading recruiters to offer attractive packages along with top management designations that are on a par with Ivy League schools.
The highest package received so far has been $233,000 by an Indian company which has offered the profile of a global expansion head.
With the recruitment process set to end by March 31, 18-20 students have already bagged their first offer and most of them are in the process of finalising their second.
As a norm, participants for the programme can have two offers and later zero down to the favourable one.
The average domestic salary offered so far has been Rs 19 lakh while the average international salary has been to the tune of $120,000 and around $20,000 more as bonuses and other perks. Even the roles offered have been quite diverse.
"Since each participant has domestic and international experience of at least nine years, companies are eager to offer them top positions in the management like global operations head, MNA operations and thought leadership roles," said Mayank Srivastava, Student Placement co-ordinator, PGPX.
The recruiters so far include Thermax, RPG, Microsoft, ING Vysya, Arcelor Mittal and others who have made offers and are in the process of finalising them.
As Srivastava puts it, it's not just the traditional Investment banks who have shown a keen interest in recruiting students. Most of them come with no fixed position in mind.
"Recruiters hold discussions with the student, find out his/her interests and offer packages based on that," added Srivastava.
Even as students mull over offers to choose from, a small number of them are contemplating to go the start-up way, much like their counterparts in the PGP batch who have shown a keen interest in start their own ventures.
The highest package received so far has been $233,000 by an Indian company which has offered the profile of a global expansion head.
With the recruitment process set to end by March 31, 18-20 students have already bagged their first offer and most of them are in the process of finalising their second.
As a norm, participants for the programme can have two offers and later zero down to the favourable one.
The average domestic salary offered so far has been Rs 19 lakh while the average international salary has been to the tune of $120,000 and around $20,000 more as bonuses and other perks. Even the roles offered have been quite diverse.
"Since each participant has domestic and international experience of at least nine years, companies are eager to offer them top positions in the management like global operations head, MNA operations and thought leadership roles," said Mayank Srivastava, Student Placement co-ordinator, PGPX.
The recruiters so far include Thermax, RPG, Microsoft, ING Vysya, Arcelor Mittal and others who have made offers and are in the process of finalising them.
As Srivastava puts it, it's not just the traditional Investment banks who have shown a keen interest in recruiting students. Most of them come with no fixed position in mind.
"Recruiters hold discussions with the student, find out his/her interests and offer packages based on that," added Srivastava.
Even as students mull over offers to choose from, a small number of them are contemplating to go the start-up way, much like their counterparts in the PGP batch who have shown a keen interest in start their own ventures.
