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India Inc shifts to selective recruitment

Selective hiring and moderation of unreasonable expectations in the salary is the new mantra among HR professionals. Companies such as Tata Capital and Hinduja Group have reworked their hiring plans.Tata Capital Ltd, a wholly-owned subsidiary of Tata Sons, which recently hired Harshawardhan Sabale as Co-head for its PE Growth Fund has restructured its hiring plans and is now hiring currently for critical positions.

Amar Sinhji, head (human resources), Tata Capital Ltd told FE, “Right now we are not doing mass hiring but are looking at filling critical positions only. But will also be hiring about 30-40 graduates at the junior level and post graduates from premier management institutes as well.”

Similarly, Hinduja Group continues to hire for its new initiatives but becomes selective. Also there has been no revision or cut in the compensation however the unreasonable hike of 50%-80% has now been moderated,” said Sudhanshu Tripathi, group president, Hinduja Group.

Experts believe that salaries are now rationalised and justified compared to the extraordinary increase earlier. Salary of a CEO in the financial service sector is the highest and ranges anywhere between Rs 1.5 – 3 crore. A CEO in IT, telecom and insurance draws anywhere is between Rs 1-2 crore. In the media and entertainment the salary is between Rs 1.5 to 2.75 crore and in the pharma sector it is in the range of Rs 75 lakh to Rs 1.5 crore. However, the manufacturing sector is the lowest payer with the CEO’s salary in this sector ranging from Rs 40-80 lakh only. In the retail sector CEO of Indian retail company gets paid in the range of Rs 80 lakh to Rs 1.2 crore and an MNC retail company CEO gets paid up Rs 2 crore, say experts.

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November 22, 2008 Posted by | Uncategorized | , , , , , , , | Leave a comment

TATA says to tighten belts for the employees

Ratan Tata chairman of tata group of companies said all the ceo’s to tighthen the salary belts of their employees due to the recession period.Global financial crisis has made TATA to say this.If the recession period continues their will be a loss of jobs from the Tata group of companies which increases umemployement percentage.ratan

November 14, 2008 Posted by | Uncategorized | , , , , , , | Leave a comment