Soaring account
A certified course in chartered accountancy can bring world class opportunities for job seekers, says P.S. Rathore

A booming financial sector and the growing importance of financial parameters in all aspects of business have made chartered accountancy a much sought-after career. With rapid growth in the Indian economy, chartered accountants are in great demand. Chartered accountants usually absorb esteemed and respectable posts in an organisation. They are the ones responsible for handling accounts and finance management, deal with money management, plan, analyse and review accounts along with providing financial counsel.

Course details

There are three levels of chartered accountancy course in India.

Common Proficiency Test is an entry-level programme. In this programme a student can appear for CPT after the Senior Secondary Examination or Plus II.

The second stage is Professional Competence Course (PCC), articled training, and 100 hours of Information Technology Training (ITT).

The third level is the Final Course to which students are registered only after they clear PCC. Students have other options also like General Management and Communication Skills Course (GMSC). After clearing, the final examination students are entitled to get registered with the Institute of Chartered Accountants of India to become certified CAs.

Eligibility

Students with economics and commerce background are mainly suited in terms of basic knowledge and skills, while students from any other discipline can also take up the CA programme. Commerce graduates with 50 per cent marks, non-commerce graduates with subjects other than mathematics with an aggregate of 55 per cent marks, and non-commerce graduates studying maths with an aggregate of 60 per cent marks are eligible.

To add the tag of CA to your name, you need to pass the final exam of chartered accountancy and be registered as a member of the Institute of Chartered Accountants of India. The professional course of a chartered accountant is of five years’ duration and is a blend of theoretical education and practical training with reputed CAs so that students gain knowledge as well as specialised skills in this field.

The CA course is conducted by the Institute of Chartered Accountants of India (ICAI), which has its headquarters in New Delhi. It has five regional offices at Mumbai, Kolkata, Madras, Kanpur and New Delhi with 87 branch offices across the country.

Skill Set

You can register for the Professional Education Course-I and Course-II any time during the year. However, as the examination is held thrice a year in May, August and November, it is necessary for a student to register at least 60 days before the examination. The course duration is of five years which have to be completed to within the maximum limit of 10 years.

sCOPE

Professional CAs have the option to be appointed as examiner of companies. They can also serve as financial managers and corporate consultants. This type of job profile is becoming more and more profitable nowadays. It involves Financial Accounting, which includes operating accounts, supervising, controlling and organising income and expenditure and coping with taxes. CAs can also opt for private audit as a choice of their profession. It involves validating books and accounts and issuing certificate about the company’s financial status.

The other areas of consultancy are cost accounting that comprises managing out cost effectiveness of a particular operation and diminish costs and future forecasting.

Tax Management is another type of consultancy opted by CAs. It requires minimisation of incidence of direct and indirect taxes using legal means. Besides this, CAs often provide consultancy services in the fields of finance and accounts. They can efficiently provide services in areas like corporate law counsel, project planning and finance, merger and business advice.

With the introduction of VAT, a number of CAs are opting for it. According to the new regulations in the banking sector, the demand for CAs has already gone high in this sector. One can also enter the insurance and banking review sector after doing a Diploma in Insurance and Risk Management (DIPM) and Computer-Aided Audit Techniques (CAAT).

Institutes

The Institute of Chartered Accountants of India is the summit regulator of this profession in India.

Besides, there are other institutes that offer CA courses. These include the Badruka Institute of Professional Studies, Kachiguda (AP); J.G. College of Commerce, Ahmadabad; Allahabad Degree Collage, UP; Agrawal P.G. College, Haryana; A.V.S. College of Arts and Commerce, Salem and many more. Remuneration

Chartered accountancy is a profession where returns are very high in all public, private sector or own consultancy firm. Salaries of CAs employed in public or private sector companies vary depending upon qualification and experience. Average salaries at junior level are Rs 20,000 to Rs 30,000 per month,while a senior CA can expect to get Rs 50,000 to Rs 80,000 per month in domestic markets. For those working abroad the salaries may go up to Rs 5 lakh per month. Chartered Accountants who are engaged in consultancy and private practice are also earning handsome amount depending upon the numbers and kinds of clients they are handling.

On the right path

For students from Punjab and Haryana interested in taking up this profession getting the right guidance for getting admission to and completing the course is a tough quest. Sharad Talwar, CEO of IndiaCan, that provides skill-based training to aspirants, answers some FAQs for CA aspirants.

What are the challenges of taking up a course in chartered accountancy?

CA students typically shift to metros in pursuit of better facilities but end up loosing time, money and focus when they have to face the complications of day-to-day life in the metros. The problem of migrating to metros like Delhi, Mumbai, Chennai, Kolkata etc is resolved when the students can study as effectively with the same teachers in a better and congenial environment in their hometown. They can do apprenticeship along with the course in their city and get valuable hands-on experience under a qualified CA.

Where can students from Punjab and Haryana get good guidance to be successful in the entrance exam?

A. There are centres in Chandigarh, Punjab and Haryana. In Punjab students can get guidance in Ludhiana, Jalandhar, Bathinda, Amritsar, Patiala, Sangrur, Moga, and in Haryana in Hisar, Sirsa, Panipat, Ambala, Panchkula, Yamuna Nagar, Karnal, Rohtak, and Fatehabad.

Ocean of opportunities
Subrata Nandi

The current Indian economy is witnessing a rapid growth in the logistics industry which ultimately creates a space for the skilled and specialised persons to fulfill the demand of this industry. The term “logistics” defines the management of the flow of goods, information and other resources between the point of origin and the point of consumption in order to meet the requirements of consumers. It involves the integration of information, inventory, transportation, warehousing, material-handling and packaging and is considered to have originated in the military’s need to supply themselves with arms, ammunition and rations as they moved from their base to a forward position. The success of the logistics industry depends on the promptness with which the products can be delivered to a particular destination or to a client. Time and location are two factors which can make the logistics industry successful. The logistics industry is governed by technology, integration, globalisation, legislation and confederations. 

Considering the wide array of services related to the maritime industry, there are various employment opportunities that the industry offers. In some of these areas, specialised managerial, analytical and specialised skills are required. Marine logistics is one of the areas which a student can opt for.

Sea or marine is an excellent medium for the transportation of goods. The significance of the shipping industry in India can be gauged from the fact that sea transportation accounts for 95 per cent of international trade movement by volume and 70 per cent in terms of value. With the gross registered tonnage of the shipping industry in India expected to reach 15 million by the year 2012, the industry is going to witness tremendous growth in the coming years.

With the increasing number of Indian and MNC companies entering in the logistics sector, more and more job opportunities are being created. Traditionally, the logistics industry in India hired people at the entry level who did not have any specialised knowledge about the functions, but mostly learnt on the job. But the times have changed now, as organisations have moved from evaluating each element of logistics to look at their overall supply chains. In order to understand this integrative function today, specialised knowledge of the job seeker is of great value to organisations who hire them. Therefore, a person with specialised training in this area has bright career prospects in the industry.

The shipping industry forms an essential part of today’s import and export industry. There are 12 major and 187 minor ports along the India coastline. Shipping logistics is a global trade industry, which is continuously expanding. It has its bright future prospects tied to the economic activities across the globe. The activities in Marine Logistics industry include all sorts of planning, organisation, maritime administration, ship finance, risk management etc. Different areas of Marine Logistics industry are business plan, market study and analysis of container logistics, marine logistic cost analysis, feasibility for container freight station (CFS) or inland container depot (ICD). This industry gives large number of jobs in shipping for dedicated employees. It requires a huge and committed manpower to manage functioning of different segments. Jobs in this industry require qualified employees for ship management, and to fulfill the trading formalities. This industry is not only a source of employment for the people, who are directly a part of it, but also offers employment to other inter-related industries.

Job scope

Shipping industry jobs require diverse workforce, who have the requisite skills to handle work on ship as well as logistics management. Opportunities are open for the students after completing the course in diverse fields like pricing logistics, customer co-ordinates logistics, off-shore logistics, ship utilisation, port/terminal operations, liner operations and regulations, maritime securities etc. Possible job titles include Marine logistics engineer, Development Engineer, Purchasing Engineer, Inventory Manager, Logistic Manager, and Transport Manager nationally or internationally.

Considering the wide array of services related to the maritime industry, there are various employment opportunities that the industry offers. In some of these areas, specialised managerial, analytical and specialised skills are required. A National Skill Development Corporation (NSDC) report indicates that the manpower in the shipping industry in India is distribution into four major area viz. sales and marketing; customer service; HR/ Admin/ Finance; and Operations. The operations, customer service, and sales and marketing functions require adequate technical knowledge and other soft skills. Currently there are skill gaps which need to be addressed by providing necessary training inputs to the potential employees.

Pay package

The salary structure in this industry has grown over the years and today matches the standards of other industries as well. For the fresher salary range can very vary from Rs 8,000 to Rs 12,000. Mid-level professionals in this industry can expect anything between Rs 25, 000 to Rs 40, 000. This salary range can vary from company to company or person to person.

The important part of this industry is the need for specialised knowledge. This industry, unlike any other industry, requires the knowledge in multiple areas like customs tariff, freight, packaging etc. Therefore, as one puts in more number of years in the industry, the value is likely to go up and hence the remuneration.

The writer is the Head of Logistics and Supply Chain Management Department at JK Business School, Gurgaon

Happiness @ work
Gems of ancient wisdom
One & one can make 11

A companion who is on the same wavelength as you could ease your workload and make you look forward to going to office.

Tanaji Malasure and Chhatrapati Shivaji were childhood friends and captured Torana, Purandar and Pratapgarh forts together. On the eve of the wedding of Tanaji’s son, Shivaji gave him command of the raid on Kondana fort as only he could conquer it. Tanaji scaled a steep cliff, killed the soldier-trampling elephant Chandravelly and completed his mission at the cost of his life. For his lion-hearted companion, Shivaji renamed Kondana fort as Simhagad.

Kaikeyi showed how two persons could add to each other’s strengths if they played as a team and cause each other’s ruin if they turned hostile. During his fight with demon Shambara, Dashratha received serious injuries and Kaikeyi not only drove their chariot out of the battlefield but also nursed her husband back to life. Years later, the same Kaikeyi drove Dashratha to death by asking to send his favourite son Rama to a 14-year exile.

On seeing Krishna’s universal form at Kurukshetra, Arjuna said, “Pardon my offenses for I might have addressed you as a friend or dishonored you while relaxing or eating together, sometimes alone and sometimes in front of friends” (Gita 11.41-42). Krishna replied, “Because you are my most dear friend, I am imparting the most confidential knowledge to you” (Gita 18.64). Krishna not only guided his friend with a sermon but also made strategies for his victories.

To match the Arjuna-Krishna combine, Karna chose Shalya as his charioteer for his final duel with Arjuna. But they didn’t work in unison. Shalya advised Karna to aim at Arjuna’s heart, but he aimed at his brain. Krishna pushed the chariot down a few inches and the arrow went over Arjuna’s head. For not heeding his advice, Shalya left Karna alone in the battlefield and an easy prey to Arjuna’s arrows.

It is up to you and your mate to add up to make one and one 11 or cancel each other and make zero.

— Sai R. Vaidyanathan

The writer can be contacted at svaidyanathan@tribunemail.com

Career Hotline
Sing along
Pervin Malhotra

Q. I am 20 years old, and come from a middle class family. I want to become singer like Sunidhi or Alka. I want to know about singing competitions and the selection process for these.

— Uma Sood

A. To begin with, go for auditions for competitions like Antakshari, Sa Re Ga Ma Pa, Indian Idol etc. on TV and other local/national music contests and grab every opportunity to perform on stage and at public functions.

Also get in touch with good sound recording studios in your city.

You should record brief pieces in your voice on CDs to showcase your range and talent. Armed with this professional ‘introduction,’ you can approach recording companies and music composers or even bands and pop groups to give you a break.

Remember, nothing helps a budding singer more than regular daily riaaz (practice), even if it’s for an hour.

Of course, training with the right ‘guru’ makes all the difference. I presume you are well-versed in classical music. It’s an absolute must to develop range and depth in your voice — even if you are interested in Indipop.

Wait for the right break: don’t be rash about your debut number. Working with a good composer will make all the difference.

And if you are easy on the eyes, you can move from the recording room to centrestage. Playback singers in Bollywood have moved from backstage to in front of camera with a song on their lips. Check out Kailash Kher singing “O Sikandar”, “Allah ke bande” or “Maula mere maula” or Himesh Reshammiya going “Jhoom jhoom” in Tom Dick and Harry, or Vasundhara Das crooning “Peele do do ghoont” in Corporate.

Automobile designing

Q. I am passionate about cars and am very keen to become an automotive designer. Please tell me about this field and suggest some institutions offering courses in auto engineering.

— Rocky Sodhi

A. The driving factor in automobile designing is an insatiable passion for design. The second fastest growing car market in Asia is India, and the automobile industry here is moving in top gear. It is also emerging as the most preferred sourcing base and KPO (Knowledge Process Outsourcing) destination and R & D hub for global auto majors like Hyundai, Fiat, Ford, GM, Suzuki, Toyota, Nissan Volvo and several others.

We have already begun exporting our cars (Indica is a big hit and so will be Nano), and our two-wheelers (Hero, Bajaj) have been enthusiastically received in many European countries. Low cost multi-utility vehicles could be our forte.

Experts are very optimistic about the future prospects of this field since car volumes in India are on an upsurge and the industry is set for a major boom.

After completing your course in automobile design or even mechanical engineering you can work as part of a team working with a design services provider to offer both industrial and transportation design solutions or later in the automotive department as a specialist in automobiles, design and engineering services. Car designers also work with original equipment manufacturers like Maruti, Tata Motors etc. However, when compared to Japan, Europe or US, India is still relatively new to the concept of automobile design which is why you need to be finely attuned to market demand in terms of comfort, safety, and even cultural sensitivities and preferences.

To stand out in automobile design you can’t simply rely on computer-aided design. You also need good sketching skills and understanding of 3D shapes and models.

There is enormous need for automobile stylists as well. Today every aspect of the automobile is designed. The emphasis is on futuristic concepts, your understanding of different aspects of styling, of dimension and proportion.

The industry also needs component designers: people who can design rear view mirrors, coat hangars, bottle holders etc There is also need for visual merchandisers to design automobile showrooms as exclusive branded dealer outlets need to stand out among other shops to project a specific image.

To successfully conceptualise your dream machine you must get some hands-on training using manual methods of designing in order to use past experience as a repertoire of information that you can draw on for new creations.

Performance modification has emerged as a popular segment.

An automobile broadly comprises of the engine, chassis, gearbox, differential and suspension. Each of these and their components come in so many different specifications and designs that only someone who has done a course in automobile engineering can figure out the various permutations and combinations ideally suited for a particular kind of vehicle.

Diploma-level courses are ideal for those who wish to go into servicing and maintenance or work on the shop floor of an automobile plant or as a Supervisor in bus depots or work in maintenance, overhauling, production, servicing at service outlets of OES.

While a number of colleges including the IITs offer courses in automobile engineering, there are very few full-fledged courses in automobile design like DC College of Automobile Design.

For further guidance, you could also contact the Automotive Research Association of India, Pune (www.araiindia.com) for further inputs

Engineering Colleges usually have active student chapters of the Society of Automotive Engineers. The website of the US-based SAE (www.sae.org), including its Indian chapter in Chennai, should be useful in your search. You could also contact faculty advisors of the various Indian collegiate chapters (at DCE, IIT-D, NSIT, MIT, Jamia Millia); Punjab Engineering College, Chandigarh etc.

Power and the glory

Q. In your opinion is IAS still a good option, particularly when the intake is so limited, and the private sector offers so many attractive options?

— Milind Sharma

A. Why not! And you don’t have to take just my word for it. Despite murmurs of falling standards and relatively lower salary, the Indian Administrative Services continue to be the preferred option for the majority of Indian youth as it provides visible as well as invisible perks, social status and benefits with 100 per cent job security (something that is lacking in the private sector) according to a study conducted not long back by the Assocham, about 80 per cent of 300 young corporate executives who were interviewed, agreed that the IAS, IFS, IPS continue to draw the best available talent contrary to the impression that flight of talent has shifted towards the private sector with fast advancing liberalisation.

Over 70 per cent agreed that the private sector does offer handsome package to bright young executives but minus job security whereas there is no element of uncertainty befalling a civil servant.

Almost 55 per cent of the respondents blamed the oft-reported interventions of politicians in the day-to-day working of bureaucrats for discouraging bright people from joining the services.

Sure there are plenty of other options, and there have always been, but many bright and idealistic young people across the country would give anything to get into the coveted bureaucratic enclaves often described as the ‘permanent government’.

Moreover, there is reason for Civil Services Aspirants to rejoice: The government has increased the IAS intake for 2010 by a significant 66 per cent. UPSC has notified a total of 965 vacancies for the Civil Services exams this year, sharply increasing the number of entrants to the service. In 2009 the total annual intake was around 580, while in 2008, UPSC had taken 791 candidates, including 120 in IAS, 26 in IFS and 130 in IPS. The spurt in vacancies this year is in large part due to increase in the intake of the IPS from 130 to 150.

On My OWN
Ruling the NET
Carving a niche for herself in the net-space was a journey full of challenges for Meena Kapoor, co-founder and CEO of Netway India. This gutsy entreprenuer shares her motivating factors
Geetu Vaid

The web space is buzzing with new age entrepreneurs and their enterprises, and Meena Kapoor has the unique distinction of being one of the eminent names amongst a handful of women co-founders and CEOs in the Internet and mobile space in India. She co-founded Netway India Pvt. Ltd in 1999 during the dotcom boom, to launch its flagship brand Astroyogi.com in early 2001. Since then, she has led the firm in evolving its service offerings and expansion across platforms while guiding its growth.

Astroyogi.com, one of the most comprehensive flagship portals of Netway India Pvt Ltd, is India’s leading astrology portal partnered with internationally recognized internet brands including MSN, Yahoo and Google. Astroyogi.com houses over 10,000 pages of unique content dealing with all spheres of astrology and spirituality.

Services offered by Astroyogi span across horoscopes in various genres; palmistry, numerology, tarot, Feng Shui, Vaastu and Indian astrology. This growth has been spurred by Meena’s sharp entrepreneurial skills and understanding of the business potential. During her stint as CEO she helped start the mobile VAS services in the year 2004, providing innovative options in a competitive market.  Under her leadership, Netway has tied up with telecom partners and aggregators across the globe. An entrepreneur at heart, Meena has been quick to understand the challenges of the space and has since grown the business by forming critical partnerships across platforms, both in the internet and mobile space. Today Netway India Pvt. Limited has also partnered with major international brands as co-branded channel partner – Google, Yahoo! India and MSN Southeast Asia to name a few in the internet space.

A frequent speaker on entrepreneurship at conferences, Meena is a senior member of Women in Business forum. She is the Chairman of the Special Interest Group for Women Entrepreneurs in The Indus Entrepreneurs (TIE), Delhi. She is also a core member of the Special Interest Group for the Internet in TIE, Delhi. She is an active member of Mobile Marketing Association of India. (MMAI). In an interview she shares her experience as a professional in the web world. Excerpts:

How did you venture into the Internet space?

In 1999 the Internet was a relatively new market space which was burgeoning. We had a tie up with a UK based technology company that was already in the dotcom space in a big way. That is when we thought of launching astroyogi.com .

What is the USP of your venture?

The USP of the space was the fact that it was a content genre that was carried on almost all mediums, newspapers, television and radio. The internet and mobile therefore, just became an extension of those mediums. Moreover, it was the one space that had a global context, unlike other content spaces that are localised. We have ensured that astroyogi.com is a global portal and not just for the Indian market, which is why it is live on portals in Southeast Asia. We will now focus on other markets.

What is the scope of growth for those interested in entering this field?

The scope of growth in this field is immense and the overall market is pegged at Rs 40,000 crore. This includes both offline and online businesses.

You have seen the ups and downs of the boom and bust both, what are the strategies that make one survive tough times?

During tough times the key idea is to reduce cost without impacting quality. Communication with our employees during such times brings in valuable advice and support. Another important thing is time management as the most important commodity we have is time, so we plan our day right down to the hour. Last but not least, to keep yourself focused and not let tough times bother you. Tough times are like a wave, if you ride them out, the good times will come.

What are the challenges that women entrepreneurs have to face?

For me personally, the overall challenges faced by entrepreneurs are fairly universal, and by and large not gender specific. However, there is no doubt that there are several social barriers that women face, that make their entry into entrepreneurship even more challenging. I think the biggest advantage women have is their resilience and patience with any given situation which is a must in the initial years of a growing business.

What do you have to say on the mobile VAS Industry?

We have only seen the beginning of a revolution. Mobile VAS is a space that will touch each individual, particularly the next generation in ways that are unimaginable for some of us, who have spent a part of our life without a mobile phone. The mobile phone will soon be akin to our toothbrush – if it is not already. A more personalized information, communication, entertainment and education tool.

As the Chairperson of the Special Interest Group for Women Entrepreneurs in The Indus Entrepreneurs (TIE), Delhi, do you think that women have got their due in the technological fields?

Cultural stereotypes contribute to an environment in technological fields where women are consistently undervalued. Companies must ensure that there is sufficient gender diversity in senior leadership roles.

Having said that, women must come forward and be more assertive as taking a passive role only further promotes more of the same. Women need to become their own role models.

Study Abroad France
French odyssey
R.M.S. Atwal

In addition to a good educational experience, studying in France leads to excellent career opportunities internationally after graduation. The country is better known for its high level of technological development, culture and reputation in the education system, which attracts a host of young aspirants year after year.

Despite the fact that French is the main language, the medium of instruction is still English in a majority of universities and colleges. No wonder then that students from non-French regions look up to studying in France as a best study abroad option. Even though French is not mandatory for study courses yet it is advisable to learn the language before flying to this francophone.

“Whether you are going to France, Germany or Italy, knowing the local language is a must in a host country otherwise you will be in a soup,” warns Novneet Sohal, a French language expert in Jalandhar. “Most importantly, it helps you to assimilate the foreign culture, leading to better job prospects. The smart act would be to gel with the people abroad and avoid trouble,” adds Johal.

In an interaction, Christian Flores, Director of Alliance Francaise (Chandigarh), talks about various study options for the north Indian students in France. A non-profit and non-partisan education organisation, Alliance Francaise is promoting French culture and the French language in 138 countries, including India, with 15 centres.

Recently, Alliance Francaise (Chandigarh) has opened its Annex in Jalandhar’s Careers Paradise, an educational institute imparting French language training to students from Jalandhar and its neighbouring areas.

How do you see France as a study destination for Indian students in view of recent visa curbs by leading countries?

It is a warm, friendly and safe country offering quality education in all spheres. The country has consistently taken steps to make the student visa process more transparent and friendly.

The French Embassy in New Delhi and the consulates in Mumbai and Pondicherry process student visas. In the near future, French student visas will also be processed at Kolkata and Bangalore.

Until last year a student had to apply for a temporary residence permit upon arrival if he had to stay in France for a longer duration, but now the visa issued to students from India already gives them this status from the date of their arrival in that country. A student going to France can travel to all Schengen territories and thus have a more enriching experience during his stay. All these measures are thus a process of facilitation for the student.

Most of the students from the region want to go in for permanent residency rather than just a degree from abroad. How does France see it?

Globally, relevant skills offer the possibility of professional insertion the world over. France allows a student to stay six months more after completing his course, and if the student finds a job commensurate to his qualification, he can then stay on for at least one year to validate a first job experience. This period can be later renewed based on the conditions put forth by the company.

Q. Why do you think students are moving to France and other EU countries?

There are many reasons. The quality of education, safety, an opportunity to learn a new language, ease of mobility, finding professional internships as an integral part of courses, experiencing a rich culture as also the number of scholarships available to study in Europe through the European Union and its member nations make for a very attractive deal. Also, the global recession has perhaps contributed to students looking beyond the US. Apart from these factors, it is also partly due to the sustained actions of CampusFrance (the education wing of French Embassy) by providing accurate information to thousands of students and the large number of active partnerships being inked between French and Indian institutes and universities.

What are the visa criteria for France?

The visa criteria are quite simple. A genuine student needs a coherent academic project, the financial capability to support his stay and academic costs, having the requisite background to successfully complete the course and an appropriate level of linguistic skills. It is English for courses taught in English and English and French for bilingual courses, and French language competence for courses taught in French.

How important is it to know the French language?

If a student is going to France for courses taught in English, then knowledge of French prior to departure is not mandatory. However, learning French is highly recommended, as it will serve to make the entire experience a great deal more memorable and worthwhile.

Old is gold
Cos eye former employees to beat talent crunch

The well-proven adage ‘Old is Gold’ seems to guide corporates fighting talent shortage, as many entities are re-hiring former employees, a move that helps in saving on recruitment costs as well as time.

“Companies are calling back their old employees. After the recession, organisations have realised that old is gold, and are calling back the old employees to reconstruct their talent pools,” HR consultancy Planman’s HR Director & Managing Partner Deepak Kaistha said.

According to experts, companies are even ready to take back employees who were laid off as part of cost cutting measures in the wake of 2008-09 financial crisis.

Spread across diverse sectors, the idea of re-hiring former employees is gaining momentum especially in the IT and ITeS industry, with entities like Infosys leading the way.

“It is a great way (hiring former employees) to save recruitment cost and time, where multi-interview processes are not required,” executive search firm GlobalHunt’s Director Sunil Goel said.

Staffing firm TeamLease Services’ GM (Permanent Staffing) Surabhi Mathur-Gandhi said it is increasingly seen that many firms are hiring former employees, especially those who were separated due to reasons other than performance.

Recently, state-run BHEL invited its ex-executives to rejoin it, through an advertisement in a leading daily.

“With an impressive order book and turnover poised for Rs 45,000 crore by the term of current Five-Year Plan, it would like to consider its old family members, having experience in any of the areas given below, who left BHEL on resignation and are now desirous of returning,” BHEL advertisement said.

Explaining reasons behind the trend, Goel said companies are looking to get back their talented employees back as their credentials and abilities in job have been proven.

“This is coming up as a win-win situation for both companies as well as employees as they have tested different waters and have already done comparison analysis,” he added.

Viewing the trend from the side of employees, Kaistha opined that as long as there is no stigma attached to the idea of re-hiring, many would love to come back to their former employers.

“It is the responsibility of the HR department to see to it that the employee does not feel out of place because of the time lapse during his absence,” he added. — PTI

news byte
Scholarship for management students

The Padode Foundation under the aegis of Centre for Developmental Education Society, Bangalore, has announced its annual ‘merit-cum-means’ scholarships to be awarded to meritorious students. Students who are taking admissions to the PGDM (International Business and Finance) programme at the IFIM Business School, Bangalore, can procure this scholarship. Special preference will be given to girls and differently abled meritorious students applying for the scholarships. Students with corresponding scores in XAT/IIFT may also apply for the Padode Foundation scholarships.

To apply for the ‘merit-cum means’ the student needs to fulfill among others, the following criteria: 80 or above percentile in CAT and excellent academic track record in Class X, XII and graduation. Interested students may get more details on the scholarship, group discussion and personal interview dates from www.ifimbschool.com or from IFIM Business School on 41432876/888 or 09901705058 or mail to admissions@ifimbschool.com.

Fortnightly Quiz-365

working to create engineering marvel

1. What will be the length of the world’s longest high-altitude Rohtang tunnel, aimed at providing a strategic all-weather connectivity between Manali and Leh?

2. Who recently scripted history by becoming the first woman Prime Minister of Australia?

3. Name the alumnus of IIT Mumbai who recently assumed the role of Dean of the prestigious Harvard Business School.

4. What is the current ranking of Saina Nehwal in world badminton?

5. Which country recently won the cricket Asia Cup?

6. Name the official match ball for the FIFA World Cup 2010.

7. Which player has scored the maximum number of goals in FIFA World Cups?

8. How many times has Brazil won the football World Cup?

9. Who defeated the six-time Wimbledon champion and top-seed Roger Federer in the tournament this year?

10. Who won the men’s singles Wimbledon title this year?

— Tarun Sharma

 

Winners of quiz 364: The first prize by draw of lots goes to Jatin Chopra, class X-B, St Joseph’s Convent Secondary School, Civil Lines, Bathinda, Pin Code - 151001 Second: Shubham Kaushal, class XI, DAV Centenary Senior Secondary Public School, Malerkotla, district Sangrur, Pin Code - 148023 Third: Anisha Arora, class IX, St Paul’s High School, Model Town, Ambala City, Pin Code – 132001 Answers to quiz 364: 1985; Methyl Isocyanate (MIC); Armed Forces Special Powers Act; Jammu and Kashmir; Kosi; Saina Nehwal; Zakumi (leopard); Chile; Gonzalo Higuain; Vuvuzela Cash awards of Rs 400, 300 and 200 are given to the first, second and third prize winners, respectively. These are sent at the school address. Note: Kindly mention the pincode of your place to facilitate the delivery of the prize money. Answers can also be sent at quiz@tribunemail.com