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Monday, November 3, 2008

Videocon fires CEO before he can join

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From Finance and airlines, the human cost of the financial meltdown is spreading to other sectors.

On October 6, Bharat Business Channel Ltd, the direct-to-home (DTH) television wing of Videocon, issued a letter offering a job to a Indian non-resident (NRI) working as the CEO of a company in a South-East Asian country .

He was invited to join Bharat Business Channel as its chief of technology division in Noida, on an annual salary of Rs 48 lakh.

The man, whose name has been withheld on request, was to join work on October 20 when Videocon withdrew the offer on October 18, hours before he was to board a flight to India on October 19.

“Due to internal rationalisation, we are currently holding all recruitments,” said the email sent by Videocon’s human resources department.

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posted by PressMart Team at 10:52 AM 0 Comments

Monday, July 14, 2008

3 in 10 people lie to get a job: research

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Lies are fast becoming the ladder for India's corporate climbers. And India Inc is slipping.

Three in every 10 job-seekers lie to prospective employers about themselves, reveal three all-India surveys carried out between January 2007 and March 2008.

The dishonesty ranges from lying in resumes and inflating current salaries to submitting fake certificates, including fudged university mark sheets. This dishonesty contributes, directly or indirectly, to India Inc losing an estimated $40 billion (Rs 1.72 lakh crore) annually through corporate fraud carried out by company insiders, says a survey by background check firm India Forensic Research.

"We have seen that people who lie on their CVs are more prone to committing larger frauds later on," said Ashish Dehade of First Advantage, a US based multinational background check firm which has studied 1.5 million cases over the past 15 months. "Recently six employees of a multinational bank committed a major credit card scam. It was found that all six had lied on their CVs about their employment record. In fact, all six had lied even to get their previous jobs!"

Infotech giant TCS runs background checks on all recruits within seven days of issuing offer letters. "Information security is key to our industry We cannot afford any compromises," said K. Ganesan, company vice president.

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posted by PressMart Team at 10:42 AM 0 Comments

Wednesday, June 11, 2008

Job prospects best in India

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Despite fears of an economic slow down at home and a slump worldwide, the country's employers are looking for workers actively. India has topped a global employment outlook survey, powered mainly by service industries such as IT, realty and financial services.

The latest quarterly survey of about 5,636 employers - part of a global sample of 55,000 - by multinational human resource firm Manpower Inc says that India's Net Employment Outlook for the July-September quarter stands at 45 per cent, the highest in the world.

"The strongest hiring intention is seen in sectors such as the services, finance, insurance, real estate, media and tourism," said Naresh Malhan, managing director of the Indian unit of Manpower .

Hiring intentions are weakest in the whole sale and retail trade industry sector and the manufacturing sector where employers have indicated a decline in their hiring plans.

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posted by PressMart Team at 3:45 PM 0 Comments