Screening fake CVs turning into big business

Mumbai: Candidates fudging CVs to get jobs beware! Employers can catch you using services of Background Screening Industry, which has the wherewithal to check a potential employee’s background.
   The new industry, which is less than seven years old, is gaining popularity globally as more and more companies are realising that a “bad hire” has the propensity to inflict immense damage to the image and reputation of the company.
   “We help the companies to recruit right set of people in their organisation as the character and competence of an employee is of paramount importance. In today’s world, the last thing that a company would want is negative reputation,” First Advantage Private Ltd. Managing Director Ashish Dehade said.
   The company offers background checks on employees with customised services. But unlike private detective agency, which carry out undercover operations, the background screening industry operates in a transparent manner with the consent of the prospective employee who knows that company where he has applied is verifying his credentials through an outsourced background screening agency.
   It is the growing incidences of fraud, negligence, data theft, danger to employees and loss of reputation of the companies because of nefarious activities of employees of questionable character and integrity, which has created a demand for creditable organisations that can verify the credentials of a candidate like a private detective agency.
   Appointing a candidate without verifying the claims in his CV have cost many companies dearly. For instance, a Bangalore-based employee of one of the world’s leading bank was arrested some time back for his involvement in stealing confidential data of a UK-based customer by hacking into computers, Dahade said.
   The employee had joined the bank by producing forged qualification certificates. In another instance of “bad hire,” the anti-terrorism squad during investigations into the 7/11 serial blasts in Mumbai, which took more than 180 lives in 2006, uncovered that two of the blast suspects used degree certificates from an unrecognised institute to get jobs in well known companies.
   One was hired as a programmer with a multinational software company in Bangalore while the other was a computer engineer with a Pune-based IT Major, Dehade said, adding that had the companies checked the claims in their CVs, the companies could have saved themselves from severe loss of reputation. PTI

Satyam is Official IT Services Provider to the 2010 and 2014

Satyam has been signed up as the FIFA World Cup Sponsor and the Official Information Technology (IT) Services Provider to the FIFA World Cup. The relationship covers two event cycles – the 2010 FIFA World Cup in South Africa and the 2014 edition in Brazil – and each cycle includes the a FIFA Confederation Cup tournament.

Satyam is one of four FIFA World Cup sponsors announced for the 2010 event and is the sponsor in the IT services category.

Each FIFA World Cup is the culmination of a two and a half year preliminary competition involving around 200 national teams. The 2006 FIFA World Cup broadcast more than 76,000 hours of coverage over 376 channels worldwide, cumulatively reaching more than 26 billion viewers – more than any other sports event in the world.

As the Official IT Services Provider to the 2010 and 2014 FIFA World Cups, Satyam, which already enjoys a business relationship with FIFA, will play a crucial role in developing the core IT event management system for FIFA and its Service Partner for IT, Accommodation and Hospitality – MATCH AG, as well as Local Organizing Committees during the next seven years. With a presence in more than 57 countries, Satyam can fully leverage its global expertise and therefore enable FIFA not only to deliver world-class events but also focus on generating a long-lasting legacy for the host countries through hiring and educating local event staff.

The sponsorship also builds on Satyam’s fast-growing presence in South Africa and across the region. Satyam’s business in South Africa doubled this past year, and the company will soon be opening offices in Ghana and Kenya. Satyam is a significant investor in South Africa and leads a skills development initiative for South Africans under the Joint Initiative for Priority Skills Acquisition (JIPSA) program. Currently, more than 80 South African students are enrolled in a year-long technical training program at Satyam’s campus in Hyderabad, India.

Satyam named as the first Indian FIFA World Cup Sponsor

Durban: Satyam, an Indian global consulting and information technology service provider, has become the fourth sponsor after Anheuser-Busch, McDonald’s and MTN to sign up for the 2010 FIFA World Cup.

This historic agreement awards Satyam global rights for the 2010 FIFA World Cup in South Africa, the 2014 FIFA World Cup in Brazil and the two FIFA Confederations Cups which fall within the 2007-2014 period. The partnership, sealed by FIFA President Joseph S. Blatter and Satyam chairman and founder B. Ramalinga Raju at a signing ceremony on the eve of the Preliminary Draw for the 2010 FIFA World Cup South Africa in Durban, represents the first major sponsorship deal the IT services company has entered into – a further indication of the enduring appeal of football.

Pune to host Times Job Switch on December 15, 16

Pune: In view of the growing need for experienced human resources in IT, ITES and manufacturing sectors,The Times of India group is pleased to announce the first job exhibition in the city catering to knowledge workers with over two years of experience.
   A niche space, this exhibition-cum-forum would appeal and cater to experienced personnel only. A lounge format with high tea et all would make this environment visibly different from the conventional job fairs where companies interact with large number of job-seekers across the counter. Focus on such a congenial environment is necessary, given the premium audience that the show caters to.
   The exhibition would also feature niche knowledge forums. Industry leaders and gurus will discuss issues relevant to sectors like IT, manufacturing and infrastructure. Focus on industry outlook and emerging technologies shall appeal to knowledge workers who are part of these industries. Some client-specific presentations will also allow organisations to showcase their brand, discuss growth plans, future projects and HR initiatives with a select group of probable employees.
   The exhibition arena, meanwhile, would offer an array of options in the form of best companies to work for. The expo would be an opportunity for business people to present themselves to potential employees and also interact and evaluate them on their respective requirement parameters.
   Job Switch would be promoted as a niche forum-cum-exhibition for experienced personnel only. While the event would be held in Pune, its mega print promotion plan, which runs across major cities like Pune, Mumbai, Delhi, Bangalore, Hyderabad and Kolkata, would ensure access and brand connect with experienced personnel based across all business hubs of the country.
   As participants, the organisations will have an opportunity to showcase themselves and their brand through the medium of a forum. They will also have an opportunity to interact and shortlist select audiences via the exhibition stall and interview rooms
   If you are an organisation which falls under the domain of IT, manufacturing and infrastructure, and are keen on hiring experienced professionals only, there could be no better place for you than the Times Job Switch.
   The event is scheduled at the International Convention Centre, Senapati Bapat road, Pune, on December 15 and 16, 2007. For more details or stall bookings, contact 9881254254 or 9822034737. TNN

Naukri Undergoes a Makeover

In an attempt to grab more eyeballs, Naukri.com has introduced the next level of architectural and user interface (UI) changes in the jobseeker sections of its Web site.

Naukri claims that the new and improved Web site, with its cleaner interface and soothing colors, will help users derive greater value — with relevant upfront information plus interactive features built into the site.
Naukri has attempted to make the site more relevant to both job seekers and recruiters. In the new site, the focus is on the relevance of information, easy search, as well as organization of information into clusters. Naukri says it is a step towards greater interactivity and scalability, which is in-sync with the fast moving Internet industry.

The job search feature is enhanced with new search filters called ‘clusters’, as well as industry specific pages. It is now possible for users to search- basis minimum and maximum salary range.

An International jobs section allows users surf over 7,000 overseas jobs, Naukri claims. Users can select suitable jobs, and apply for them using the ‘one click apply’ funtion.

The highlight, according to Naukri, is the ‘My Naukri’ section, wherein each user gets a comprehensive detailed page on his/her profile on Naukri, thus giving it a personalized edge.

While this feature isn’t entirely new, it is now an aggregated advanced format of its predecessor. Further, with Job Messenger and Search Agent, users can set criteria to receive alerts and search effectively. The ‘My Naukri’ page also allows users to toggle details and update information easily.

Uploading resumes is a breeze, thanks to the submit resume page introduced.

Source:Techtree

Merrill Names NYSE’s Thain As CEO

JOE BEL BRUNO

The Associated Press

NEW YORK – Merrill Lynch & Co. hired someone outside the company to become its leader for the first time since it was founded 93 years ago , and he comes from a rival whose alumni have done quite well for themselves.

Goldman Sachs Group Inc., Wall Street’s biggest investment bank, has turned out some well known former employees. John Thain, who left Goldman to become CEO of NYSE Euronext in 2004, joins a group that includes U.S. senators and White House veterans among its ranks.Henry Paulson is now Treasury secretary, a job once held by Citigroup Inc. chairman and former Goldman co-Chief Operating Officer Robert Rubin. Jon Corzine is the governor of New Jersey and also was a U.S. senator after serving as chairman and CEO of the investment bank.

Even Thain’s replacement at the NYSE , Duncan Niederauer , ran Goldman’s equities business. There was also speculation Rubin might have offered Thain the top spot at Citigroup.

Thain’s experience at Goldman was seen by many as an asset for Merrill Lynch.

“I think John is a very good candidate for the future,” said Win Smith Jr., a former chairman of Merrill Lynch International whose father was among Merrill’s founders. “He has a great background, did a good job stepping into NYSE when it had troubled times, and comes out of a firm that has a very strong culture. He can help bring the pride back.”

While disappointed the board did not look for an internal candidate, Smith said Thain will lean on his reputation as a consensus builder to win the allegiance of Merrill’s army of some 16,000 brokers worldwide. Many felt betrayed by O’Neal, who was forced out of his job after the broker reported a $2.24 billion loss during the third quarter.The biggest challenge: Help guide Merrill Lynch through the unfolding credit market turmoil that threatens Wall Streets biggest investment houses. The broker took a $7.9 billion write-down during the third quarter , an amount that shocked investors because the broker originally pegged the amount at $4.5 billion.The crisis shows no sign of abating , analysts expect another $4 billion charge this quarter. Alberto Cribiore, Merrill Lynch’s interim non-executive chairman who headed the search to find a new CEO, said Thain is “the right person.”

He already has widespread support , from academics to Wall Street analysts. He’s viewed as one of the smartest men on Wall Street after his career at Goldman Sachs, where he rose from a bond trader to chief operating officer.

Indeed, the transformation he made at NYSE might serve as the blue print for how to do the same at Merrill Lynch , which faces both media scrutiny and troubled books. At the NYSE, he took over after Richard Grasso was ousted over his controversial pay package.

Not only was he able to rebuild confidence of NYSE board members and workers, but put the exchange on the right track. His acquisition of electronic trading platform Archipelago Holdings Inc. set NYSE up to go public, and then Thain snapped up Euronext to become the world’s first trans-Atlantic stock exchange.

Thain, 52, faces the same major challenges at Merrill Lynch.

“You might think he has a tough job ahead of him at Merrill Lynch, don’t forget he had the same thing facing him at the NYSE when it was controlled by the old member firms,” said Roy Smith, who worked with Thain at Goldman and is now a professor of finance at New York University’s Stern School of Business. “He won them over, and now they’re among his greatest admirers.”

Merrill Lynch ratcheted up a huge loss during the third quarter because of investments in subprime mortgages and other risky types of debt. It joined dozens of other major financial institutions who are getting squeezed as investors steer away from riskier securities, causing credit markets to tighten significantly.

Thain faces a daunting task of cleaning up those investments and reviving morale at a firm badly bruised during the past few months. There has been speculation that a new CEO would be forced to turn around Merrill’s fixed income division, a department that he once ran for Goldman in the 1980s.

Meanwhile, he must answer to investors who have been unsettled by a 30 percent decline in the company’s stock price. Just the announcement of Thain’s appointment sent shares up $1.03, or 1.8 percent, at $57.98.

“I am excited and honored to have the opportunity to lead such an outstanding organization,” Thain said in a statement. “I am certain that together we can continue to grow Merrill’s global business and add value to our customers and our shareholders.”

His appointment ends speculation about Merrill , but Wall Street is still waiting to see who will take over Citigroup. Chuck Prince departed Nov. 4 after the biggest U.S. bank suffered significant write-downs to its mortgage-backed assets.

“The name of the game is risk taking, and the problem is a lot of investment banks have fallen off a cliff by taking too much risk , the guys that are the best at calculating it is Goldman Sachs,” said Alois Priker, a senior analyst with Aite Group.

Thain’s announcement was unexpected since many insiders on Wall Street thought Merrill would select BlackRock Inc. CEO Larry Fink. O’Neal had dinner with Fink just days before retiring from Merrill Lynch. At that dinner, O’Neal approached Fink about becoming his successor , and Fink had been in talks ever since.

Fink, could not be reached for comment, but a spokesman for Merrill Lynch said “Fink was never offered the job.”

Still, Fink is also said to be on the short list of candidates vying for Prince’s job at Citigroup. He could not be reached for comment.

With both Merrill Lynch and the NYSE with new leaders, it puts more pressure on Citi to make an announcement of its own. Regardless of if Fink or someone else takes the top spot, it marks an unprecedented time on Wall Street in which CEOs find their jobs on the line.

“If there’s more write-offs hidden under the hood of these firms, then there will be more axing going on,” Priker said.

AP Business Writers Madlen Read and Tim Paradis contributed to this report.

Source: www.philly.com

Indian-born Narayen is Adobe CEO

Adobe Systems Inc, the world’s fifth-largest software company, on Tuesday named Indian-born Shantanu Narayen as its next chief executive officer (CEO), marking the latest of top-level appointments of people of Indian origin in one of the world’s hottest companies.

Adobe is the company behind popular software like Acrobat that creates the popular pdf documents and Photoshop for photographic editing. It now also owns the popular Flash and Dreamweaver software that powers Internet animation and visual content after it acquired rival Macromedia. Its latest offerings include online video editing software.

Narayen, who is also a keen researcher who holds patents, is currently president and chief operating officer and will replace CEO Bruce Chizen from December 1.
Adobe , which has annual sales in excess of $2.6 billion, has been steadily increasing its software research and development in India, where it has more than 1,000 of its 6,600-plus worldwide staff. “You can see every single product has significant components from here (in India),” Narayen told Hindustan Times in an interview last year.

Source: HT

Retain people by meeting their aspirations

Corporates must learn to act with a sense of urgency in executing programmes that meet employee aspirations. Lack of quick action might make people move on to other things and other organisations, warns Vinod Malhotra

Retaining good people is only an issue of capturing personal aspirations, reworking strategies and systems, and doing whatever else it takes to meet those aspirations. The wise management understands this and also realises the total impact of losing talent. Therefore, they work hard at retention programmes.

Companies lose large numbers of their talents because of three primary reasons: * Organisations often do what in competitive sports would be considered suicidal—they take their eyes off the “ball”. Rajeshwari Vellaru, senior vice president in an IT company, says: “Organisational strength is built through the synergistic effect of two key management actions. First, the generation of correct strategies and second, their perfect execution. Poor results in any one of them can only lead to status quo ante or worse.” Well, I couldn’t agree more with Rajeshwari. Good ideas are of little or no use without the wheels that give them motion. While it’s important to architect correct strategies, corporates must recognise that it’s equally important to gather enough management enthusiasm to convert thinking into “deliverable” programmes. * Organisational policies and satisfaction programmes are largely born of the thinking that “one size will, or rather must fit all”. In studies of successful management practices, I have found it to be on the contrary. Without “elbowroom-flexibility”, satisfaction programmes are doomed to fail. Even a programme designed to satisfy individual aspirations! It’s very difficult to simultaneously manage the socioeconomic and psychological backgrou-nds of a multitude, their personal hierarchy of needs and motivation, the pulls and pushes of organisational priorities, etc, without sufficient leeway for individualised solutions. * Many organisations are painfully slow to act. Corporates must therefore learn to act with a sense of urgency in executing programmes that meet aspirations. Because if things don’t happen quickly enough, people will move on—to other things and other companies. Following is a simple and effective retention model—the MACPEP (Map Aspirations Change Paradigms Execute Programmes): In process terms, three mission critical actions are at the foundation of the model: Map aspirations Map the aspirations of all talent that is making a positive impact on your business. This is an easy, albeit tedious, process. I would therefore encourage you to map the “high performers” in your organisation. You can then develop “eyes-to-the-ground” initiatives to make your company aspirations-friendly. Concl-usions from the data collected over the last seven years have been summarised into what I call “Six universal truths about human behaviour”. Interes-tingly, I discovered substantial similarity in behaviour, irrespective of creed, caste, industry or rank. Change paradigms Learn to change your paradigms about effective management, and admittedly, this is tough. It will help to first understand how paradigms evolve. Very simplistically, whenever the brain spots patterns in the personal experiences of an individual, it builds frames of reference or paradigms. These frames define effective ways of responding to situations and slowly a repository of paradigms gets built. This is very useful! The trouble begins when we forget that the experiences at the root of paradigms, are themselves context driven. A change in one or more elements of the context and you have altogether new experiences and consequently the beginnings of new paradigms. Characteristics of the players, the sequence of events, socioeconomic scenario, exposure to new ways, priorities of the most influential person(s), et cetera, constitute the context, and these change substantially with time. Perhaps the most important lesson in learning to change paradigms is to know that they have changed in the past. Speedy execution Speedily and decisively execute programmes that will meet those aspirations. Following are some powerful initiatives that help meet aspirations of people. However, since the programmes are drawn from various organisations, with distinctively different cultures, not all of them will work for you. In taking a pick, make the judgement keeping your particular situation in mind.

• Raise-the-standard: Every three months you are expected to raise your performance standard with respect to certain deliverables. Only consistent performance gets you bonus points.
• Take-the-challenge: Chall-enges around the primary purpose of your role are thrown at you at regular frequency. You choose the challenge, perform against tight deadlines and get recognised.
• Design for yourself a ‘one-year dream role’. The role is built within the framework of what is important for the organisation.
• Every year you get the opportunity to gamble a part of your compensation. You bet stakes that escalate with increased difficulty of the target.
• Meeting agreed productivity norms guarantees your job.
• You are first trained on a set of skills. Then you are expected to hit threshold performance levels in order to save your job.
• Sell-an-idea: These are six-monthly festivals where you participate to sell your idea to a panel for adoption by the company. Ideas must necessarily lead to substantial profits.
• Join a strategic mission: Get nominated to a strategic mission that’s important for the organisation. These are short-time work programmes.
• Elbow-room flexibility: This represents an ongoing way of life. The underlying spirit behind every transactional decision becomes the guide for elbowroom flexibility.
• Run-a-commando unit: These are self-managed, self-sufficient teams that have an unambiguously defined mission. Resources are released quarterly and reviews held fortnightly to keep things always on track.
• CEO’s Club membership: If you give outstanding performance during a business year you become a member of the CEO’s club. The club addresses, debates, decides and executes issues of strategic nature.
• Big sportslike display boards are used for recognising outstanding work that’s either a breakthrough or a dramatic improvement of an existing system.
• Every year all ‘bosses’ have to score 80 percent to stay on. You rate them on defined leadership parameters including sensitivity and value addition.
• Every quarter in an irritant removal meeting, you highlight an irritant (something that doesn’t add value), and then become instrumental in getting it removed.

Retention is a very personal issue. Sensitivity, care and credibility therefore, are expected of the person who is charged with the responsibility of addressing it. Since personal aspirations and their order of priority are dynamically changing, an ongoing early warning vigilance is necessary. An organisation-wide mentoring environment protects and nurtures retention initiatives. Vinod Malhotra is a senior change management consultant and chief human resources officer at Escosoft Technologies

Recruitment Ads Aren’t Pulling? Here’s How to Write Thrilling Headlines

by Michael T. Owens

Scenario: Last Sunday you placed an $1100 recruitment ad for Service Technicians. You only received six responses and only two fit the qualifications. Why didn’t this ad work? Does this scenario sound familiar to you? Do you feel like you’ve wasted company time and money? Are you being pressured to fill positions-fast? If you answered “yes” to any of these questions continue reading.Analyze your ad, especially the headline Does it grab your attention? Does it read light and quick or dull and boring? If graphics are present, do they compliment the copy? How can you rewrite the headline and copy to make them more effective? There aren’t any magical ways to writing good headlines and copy. But there are proven methods that work time and time again. We’ll discuss those methods and how to make them work wonders for you!Before beginning your copywriting adventure, ask yourself,” who is my target?” Are you trying to reach engineers, programmers, cooks? This is obviously one of the most important questions to answer when creating a recruitment ad. You must know EXACTLY whom you’re trying to reach and how to reach them effectively.

After you’ve defined your prime targets, lock in on them! Find out what kinds of concerns, desires, and goals they have. Knowing your audience makes it easier to develop and convey appropriate messages. Research is one of the best ways to learn about your target so don’t slack in this area! Remember, other recruiters are trying to reach the same people you are!

After defining your audience, think about writing the actual copy, starting with the headline. You’ve already armed yourself with research, now its time to use it creatively to get results. Good headlines for any type of advertisement should be attention getting, create an interest in the opportunity, and motivate the reader to act. Here are three basic guides to follow when writing headlines.

Create a thrilling headline. The headline is crucial in the success of your ad. If the headline is catchy then you’ll provoke the reader to read the body. The most effective way to grab your target’s attention is by getting them excited. Stir up the reader by getting them enthusiastic and motivated. If you want them to apply in person, send resumes, click on a link, etc., you must motivate them.

Create an immediate urge to act by appealing to emotions. Headlines that provoke feelings of curiosity, urgency, excitement, etc. get the best responses.

Carefully choose the words in your headlines. Your goal is to quickly grab the reader’s attention and make them want to read more. The best headlines are short and direct. Keep your headlines no more than10 or 15 words long. Try not to use over 15.

Focus on benefits.

Benefits sell! People always want to know what’s in it for them. What will they gain? Is it worth taking action? Should they even bother emailing or faxing a resume? Once the headline has their attention, sell them on the career advancement opportunities, employee-oriented culture, etc.

Let’s rehash what we’ve discussed. A compelling headline is the key to writing successful recruitment ad copy. Keep your headlines simple and concise. Stir up your readers by appealing to emotions and senses. Focus on benefits. Let the reader know what’s in it for them. Lastly, follow the guidelines presented in this article and you’ll have more applicants than you can handle! Good Luck!

This Article is an excerpt from, “How to Write Thrilling Headlines for Recruitment Ads,” written by Michael T. Owens, a recruitment advertising professional and freelance writer. He can be reached at: owens411@hotmail.com

Party over, IT sector in for big pay cut

Mumbai: It may be the end of good times for software professionals. Fat salary hikes in the IT industry may soon be a thing of the past. That is because IT companies have realised they need to cut costs in their biggest money drainer – the salaries. The IT industry’s largest employer, TCS, says that wage inflation has peaked.

“What we are experiencing this year is a stability in wages. Last year, we had a 12 per cent –15 per cent increase in wages and my own expectation is that this year the wages will increase 10 per cent –12 per cent,” said S Padmanabhan, ED and Head-HR, TCS.

That is a view seconded by Wipro, which sees wage inflation moderating at 12 per cent-13 per cent.

Infosys, however, sees wage inflation at 12 per cent –15 per cent. Salary increments offered in the first quarter this year, reflected in the margins of TCS and Satyam, in the form of an impact on their second quarter margins by 117 basis points and 450 basis points respectively.

Infosys, which offered salary hikes in April last year, saw margins in its first quarter impacted by 250 basis points. One look at the wage hikes, in the past five years, clearly show wage inflation moderating if not declining.

Industry experts say IT margins are impacted primarily by wage inflation and appreciation of the rupee. While the sting of the rupee is being countered by forex hedging, salary hikes are also being tempered.

However, some job skills may continue to carry a premium.

“In certain niche market or skill set, you can have a demand, which is far more than the supply and there is a premium. In industry parlance, we call it hot skills, and those hot skills demand a premium,” said Aquil Busrai, ED-HR, IBM India.

Instead of offering a salary hike, some IT companies are sending employees to the US or Europe earlier than usual, so that their onsite salaries make up for the lower salary hikes