JOBS & CAREERS |
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Deeply embedded
News BRIEFS
Nurture Innovation
ON MY own
Twinning — the winning mantra
Attrition at top
No insurance against job cuts
Dairy training concludes
Happiness work
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Deeply embedded
Today the computer runs our lives. Many among us suffer severe withdrawal symptoms if they are too far away from laptops or Blackberrys. Computers do everything for us – connect with friends and colleagues, give us the daily news, study material, ideas, movies, music, the works, just about anything and everything. Computer applications are so vast and varied — ranging from space exploration to banking, from communications to entertainment — that every organisation uses computer technology.
As computers become more pervasive, new applications are introduced every day. The potential of computer-related careers has thousands of students rushing into computer or electronic engineering courses, often without a thought of what they could do with their qualification and training. With the development of faster hardware components, new communication systems and software, there is a need for computer engineers in a wide range of services, including operating systems, computer architecture, computer networks, robotics, artificial intelligence and computer-aided designs.
Widening scope An important area within computing engineering is the commercially important and rapidly expanding area of embedded digital systems for communication and control. Embedded systems are computers (microprocessors) that are enclosed (embedded) in customised hardware. Examples of embedded systems are portable medical equipment, cellular phones, or consumer electronics items. Embedded systems are at the heart of many engineering devices such as digital audio players, digital video recorders, alarm systems, x-ray machines and laser surgical tools, all of which require integration of hardware and embedded software, and are all the result of computer engineering. Those qualifying in computer engineering can seriously consider a specialisation in Embedded Systems Design, which can ensure a safe and interesting career. It is an ideal course if you are a graduate engineer and wish to develop your knowledge and skills in the computer and IT industry. Today, all electronic companies need engineers who can respond quickly to changes in technology, and who have knowledge of modern electronic design, manufacturing and testing methods. Embedded systems have become the next inevitable wave of technology, finding application in diverse fields of engineering. An embedded systems application programmer designs and develops applications for appliances and entertainment products such as PDA, mobile phone, mp3 player. The specialised training in embedded systems enables you to critically understand how embedded systems are designed and implemented in both hardware and software, and to apply circuit and system simulation techniques, with an emphasis on products that incorporate embedded technology. You will also learn to systematically understand the design of embedded systems, including microcontroller architectures and real-time embedded hardware operating systems, so that you can develop expertise in developing and deploying embedded systems over a wide range of applications.
Getting In The embedded systems design course is a short intensive certificate or diploma course ideal for engineering graduates in Electronics/ Electrical Engineering/Computer Science & Engineering/ Electronics Engineering & Telecommunication/Instrumentation or Master of Computer Applications (MCA). It is essential to have proficiency in C/C++ and Java, with exposure to Computer Architecture, Operating Systems and Computer Ne For students in Punjab and Haryana, a premier institute for training in this specialisation is the Centre For Development Of Advanced Computing, at Mohali, A-34 Industrial Area, Phase VIII, Mohali, Chandigarh - 160 071. www.cdacmohali.in which offers a PG Diploma in Embedded System Design. This is a six-month full time course which gives equal emphasis to hardware and software, enabling engineers to face challenges in the design and development of state of the art embedded systems. The curriculum which includes a module on wireless embedded systems design, specifically focusing on wireless technologies and Wireless Sensor Networks (WSN) comprises of two hours daily of lectures followed by four hours of lab work. CDAC also offers this and other professional computing technology training at Mohali and other centres in the country. With the growing demand for this specialization, there are many private institutes and computer training centres that offer the embedded systems design course, and industrial training to students in fields like embedded systems, networking technologies and JAVA development. The DOEACC Society the autonomous body of the Department of Information Technology, Ministry of Information and Computer Technology, Govt of India also offers PG diploma and certificate courses at many of its training centres across the country. The field of embedded systems is growing rapidly as a result of innovative applications in Communication, Internet appliances, Consumer electronics and Process control. Today the embedded systems market is one of the key drivers of India’s IT R&D growing at annual rate of 16 per cent, and geared to generate exports over $ 10 billion this year, according to a NASSCOM-Mckinsey study. There is, therefore, a huge demand for professionals with knowledge and skills in embedded systems design, digital application specific integrated circuit (ASIC) design, VLSI design, and such technologies. However, it is estimated that engineering colleges are meeting only 20 per cent of the industry demand for chip design engineers. So a course in embedded systems design after graduation in computers can ensure that you not only have a career that is offers a huge potential for growth in the future, but is also interesting and challenging.
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Two courses in one go
Q. I am studying in Class XII (commerce without maths). Can I do B.Com private with regular BBA? Or is it possible to do CA without opting for mathematics in Class XII?
— Arun Madan A. Since there is no specific UGC guideline which says you can’t, you can certainly go ahead and take a correspondence course alongside your regular or private course – if the second course is really the one that adds value to your qualifications. Some universities on the other hand, clearly forbid you from simultaneously pursuing two degree courses from the same university. But then you have such a wide choice of open and distance learning programmes to choose from. Some universities insist on original certificates which are released only after you complete your graduation. If there is no such stipulation, you can happily proceed. The only other practical problem you may face is balancing clashing examination dates, which could be a sticky proposition. Other than that, if both courses are fully recognised, they would certainly add to your career arsenal. Not just that, adding on a more market-friendly course gives you an advantage. So if you can comfortably manage both simultaneously, do go ahead. However, to be on the safe side, do check if the correspondence course you intend to pursue is recognised by the Distance Education Council (www.dec.ac.in) As for CA, while maths is not a mandatory requirement in Class XII, the course itself and the career subsequently involves a fair amount of number crunching. For fresh candidates like you, it is mandatory to start with the CPT which is akin to an entrance exam for the revamped CA course. CPT is a single-paper, objective-type multiple-choice test carrying 200 marks. Held twice a year in June and December, it tests your knowledge of the following four subjects: Fundamentals of accounting, mercantile laws, general economics and quantitative aptitude (maths), so you need to be equipped to tackle the maths part As there is no individual minimum score for a subject, you should score an overall 50 per cent to clear the CPT. Try this out and see how it goes before proceeding further.
Pharma choice
Q. I have done my graduation in zoology, and am keen to do a course in pharmaceutical management. Please guide me about institutes and future prospects of this course.
— Amal Bhatnagar A. A fast growing sector, pharmaceuticals is second only to IT, with a recession-proof annual growth rate. In the first six months of 2010 alone India’s drug retail market grew by a hefty 19.6 per cent. With global pharma giants forging multi-billion-dollar mergers and acquisitions with Indian companies, India has become a hot playground in the new scenario. Even mainstream retail chains have zeroed in on pharma retail in their outlets. And with over 25,000 units, the pharmaceutical industry has emerged as one of the biggest employers in the country (even during the slowdown). If you go for pharmaceutical management, marketing, wholesale and drug store management, finance, operations, quality assurance, R&D management. Some knowledge of drug laws or IPR would be useful. Starting off as a Product / Business Development Executive after two or three years, you can be promoted to the position of Area Manager (AM) or District Marketing Manager. After five to six years, you can aspire to become the Regional Manager. Thereafter you could be considered for the role of Zonal Manager / Sales Manager and thereafter Vice- President of the company. However, it is not absolutely mandatory to do an MBA (Pharma). You can even go for a regular MBA degree from a reputed B-school which will equip you for managerial jobs across sectors, including Pharma and healthcare. Here are some of the many institutes that offer PG courses in Pharma management: National Institute of Pharmaceutical Education & Research (NIPER), SAS Nagar, Mohali (www.niper.nic.in), a centre of excellence in advanced studies and research under M/o Chemicals & Fertilisers. University of Delhi, Delhi Instt of Pharmaceutical Sciences & Research (DIPSAR) Pushp Vihar, New Delhi (www.dipsr.in). Jamia Hamdard University, New Delhi (www.jamiahamdard.edu). Indian Institute of Pharmaceutical Marketing, Vikas Nagar, Lucknow (www.iipmindia.com). Institute of Clinical Research (India), A 201, Okhla Industrial Area, Phase I, New Delhi (www.icriindia.com / www.icrihealth.com). Institute of Hospital Management & Research (IHMR), Jaipur (Raj). Poddar Management & Training Institute, Jaipur (Raj) IIMR Pharma Business School, Delhi. Jiwaji University, Vidya Vihar, Gwalior (MP).
Specialisation in genetics
Q. I am doing B.Sc presently and wish to specialise in genetics. Please tell me something about this field and what it involves.
— Vineeta Baswani A. Genetics is the study of heredity (genetic features) and variation of inherited characteristics in an organism. Genetic engineering is the deliberate modification of the characteristics of an organism by manipulating its genetic material. It is a part of the broader study of genetics. For instance, a typical MSc Genetics course includes the study of molecular genetics, mutation, cloning, breeding, genetic biochemistry and biophysics, and gene transference and modification. It is also offered as a specialisation in MSc Biotech programmes. Besides teaching, the main opportunities in genetics lie in research in biotech laboratories, energy and environment-related industries, animal husbandry, agriculture and applied fields such as dairy farming and medicine. Exciting work is being undertaken in this field all over the world and newer areas like epigenetics, the study of how environmental factors like diet, stress and maternal nutrition can change gene function without altering the DNA sequence, are emerging in a big way. To work in R&D you need to pursue a master’s course in genetics, preferably followed by a PhD.
Family can accompany you to B-school
Q. I have been working in a bank for the past four years. I always wanted to pursue a good MBA, but my wife is now expecting, so I’m in two minds about going to a B-school for two years. Should I opt for a distance MBA instead?
— R.P. Gujral A. I should think not. A good MBA degree coupled with a great time with the family is increasingly drawing mid-career professionals to bring their families along to B-school campuses. Quite a few experienced married executives who want to pursue an MBA are taking their families to campus so they don’t miss out on spending quality time together. An evolved support system across B-schools is encouraging them to take this decision. From fully furnished housing facilities, convenience stores, recreation centres to play areas for kids, B-schools are offering all these. The concept introduced by the premier Indian School of Business (ISB), Hyderabad, has caught up with others. IIM-A and IIM-C also provide similar facilities. ISB has a large number of families staying on campus while a very substantial bulk of IIM-A’s and IIM-C’s PGPX batches (residential programme for experienced professionals) stay en famille with their spouse and kids. And don’t worry, if you’re selected, you will be allotted a fully furnished studio apartment. And if the family has kids, there are daycare facilities with a special play area for toddlers and young kids. Some B-schools like ISB charge extra for such facilities. And as for B-schools that don’t have family accommodation, you could check if they would allow you to find a flat or PG accommodation close to the campus.
Age matters
Q. What is the relaxation in age limit for exams conducted by the Staff Selection Commission?
— Aftab Husain A. The age limit is different for different posts. Generally, it is 18-27 years. However, make sure you confirm this from the respective exam notifications published in the Employment News. The relaxation in upper age limit is as follows: five years for SC/STs, three years for OBCs and 10 years for the physically handicapped. For widows, divorced women and judicially separated women, the age limit is 35 years for UR category; 40 years for SC/ST women and 38 years for OBC women. For Ex-servicemen and Departmental candidates, its best to consult the exam notification. You could also check for details on the SSC website: http://ssc.nic.in
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News BRIEFS
Dr Pritam Kaur Sidhu working as Toxicologist in the Department of Epidemiology and Preventive Veterinary Medicine, College of Veterinary Science, GADVASU, Ludhiana, was invited by the University of London as a guest speaker in the International Symposium held at Royal Veterinary College, London. Dr Sidhu delivered a lecture on “PK-PD modeling of antimicrobials” there. The symposium was held to celebrate the distinguished career of Professor Peter Lees of Royal Veterinary College, London, who has been working in the field of Pharmacology.
Leadership award for JKBS alumni
Dr Reena Ramachandran, Director General, JK Business School (JKBS) was conferred the “Exemplary Leader Award” at Asia’s Best B-School awards ceremony held at Suntec City, Singapore recently. This is in recognition of her achievements in the filed of management education, particularly for her leadership qualities coupled with innovative ideas, her passion for research orientation. The award was presented by the CMO Asia under the chairmanship of Andrew Kelly, and Stars of the Industry Awards under the chairmanship of Jonathan Peters. As many as 29 countries participated in various categories of the Asia’s Best B-School awards.
PTU wins e-INDIA awards
The EBRIDGE and the Learning Management System (LMS) and Computer-based Tutorial (CBT) projects submitted by the Punjab Technical University, Jalandhar, Distance Education, were nominated as one of the best in top three nominations selected by the jury for e-INDIA 2010 awards. The ceremony to present eINDIA 2010 Awards, organised in association with the Department of Information Technology (DIT) under the Ministry of Communications and Information Technology, was held at Hyderabad recently. In the Citizen’s Choice award (through voting), PTU was awarded the Best ICT enabled University of the Year (LMS & CBT) and also as the best open and distance learning initiative of the year. These awards acknowledge and felicitate unique and innovative initiatives in the use of Information and Communication Technology (ICT) for development in diverse domains namely, e-Governance, Digital Learning, e-Health, e-Agriculture, Municipal IT & Tele Centre through a two-way process of jury evaluation and of public voting. Out of the 448 nominations received by e-India, 26 were put up online for the public to vote, with the entry receiving the maximum number of votes being declared the winner under the eINDIA Citizen Choice Award. Dr. Rajneesh Arora, Vice-Chancellor, PTU; Dr. N. P. Singh, Dean – Distance Education Programme; H.S. Bains, Registrar; D.S. Sekhon, President, AIPTUDEP Associates, and J. S. Dhaliwal, President, PUTIA, received these awards from the Minister of State for Rural Development and Agriculture, Ms Agatha Sangma.
IIPS campus centre in Chandigarh
With a view to make management education affordable and take it to tier-II and III towns, Everonn Business Education Limited (EBEL), a subsidiary of the world’s largest VSAT education network Everonn Education Limited, has embarked on a unique technology-based initiative. The Chandigarh campus of EBEL’s Indigrow Institute of Professional Studies (IIPS), was inaugurated recently. This is part of the IIPS’ aggressive campaign across the country, aimed at bringing about a transformation in the field of management education, and covering the uncovered. BSE listed Everonn Education, offers full time management degrees from UGC recognized and NAAC accredited university. The IIPS campus in Chandigarh offers two-year post-graduate programmes — MBA, MBA Retail and three-year Undergraduate BBA programme. The BBA programme provides an opportunity to the students to visit China and Brazil for the practical understanding of their business culture. It also offers a one-year Executive-MBA programme for working executives. The programmes are UGC recognised, and approved by the Ministry of HRD, for employment as well as for pursuing higher studies. The faculty comprises industry experts and veterans from the academic world, interactive sessions with eminent IIM professors, CEO’s and top industry professionals through VSAT provides the students an opportunity to learn from the best in the industry. The delivery platforms would include VSAT, Broadband and 3G Spectrum Networks. Thus, the expertise of eminent faculty and corporate executives would be brought to the classrooms in Chandigarh on a regular basis.
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Nurture Innovation
Today’s marketplace is dynamic and the market demand changes every other day. So, the best response to the ever dynamic market is to innovate, to have new, fresh and different ideas and strategies to beat competition. Embarking upon innovation helps organisations in their growth and in sustaining the business as well. This is because innovation facilitates trying out new ideas, and that leads to the creation of a new product or process or service or technology.
Need of the hour
The importance of innovation has been gaining momentum and innovativeness has become a key element in strategic business planning. Today, organisations need innovators more than anything else. So, employing people with out-of-the-box thinking brings in significant value and change. As innovation is driven by people, so HR should not be missing the golden opportunity to take the lead in driving innovation. HR should put a system in place to encourage or develop innovation among employees. That’s why, it is time for HR to take notice and take initiative to encourage innovation. As a matter of fact, a number of HR leaders have already identified the key role that HR can play in driving innovation. While implementing the system and process for the same, it is important for managers to identify and attempt to minimise the elements that can slow down or impede innovation. It is extremely important to identify factors, activities and events that can harm innovation.
Bottleneck, the silent killer
Heads of organisations have already felt the need for innovations within their organisations. And it is the HR managers, who are going to drive the innovations across an organisation. This is because they are the only community in an organisation that is a common bridge between different departments. To start the process, they need to identify and address the innovation bottlenecks within the organisation. In every organisation, there would be a group of people, who would be passionate about innovation. And there would be another team of people having the most negative attitudes towards it. This is because they find it difficult to maintain a balance between new ideas and the existing priorities. You will find such people in every department. That is why it is important for the HR managers to create networks of managers charged with encouraging new ideas. This kind of decentralised team can identify promising new concepts and prioritise them so that they receive the attention they deserve. This will also help in creating a culture that supports innovation. In addition, not having a widely understood system-wide process is also not conducive for innovation. To have innovative suggestions from employees it is also important to build sufficient diversity into the process. It is also important to have a proper training and coaching programme for innovations teams and an idea management system in place. Innovation is what gives life to a business in a market economy. The businesses that never get going or if they do, then fail or fail later under pressure of a changing economy or marketplace, have all failed to innovate appropriately. There is an old saying: “Only the fittest survive”. Here fit means realising the changing market dynamics and learning quickly that whatever had value yesterday may be, without innovation, is un-competitive today. So, innovation is the buzzword in today’s business environment. (The author is Managing Partner,Planman Consultancy)
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ON MY
own
The road to entrepreneurship may be uneven, but the happiness of owning a business often makes the journey more pleasurable”. These words of Rajendra Kumar’s father inspired him to launch his own venture. Kumar, an MBA, is a young entrepreneur whose venture — AquaFit+, in the water purifier segment — is an endeavour to offer high quality products at affordable prices in the rural market.
Excerpts from an interview: Why you didn’t prefer a regular job? I did take up regular jobs for about three years. But the only thing I gained was to get an understanding of different markets. I got exposure to the financial services industry and the FMCG industry. But I realised that the freedom that you seek to exploit the opportunities that exist in the market does not come in a regular employment. I was constrained to take decisions which could have benefited the company. Somehow, I felt that my freedom was restricted. And I realised that it was time to start something on my own. What are the challenges that an entrepreneur faces at the initial stages? While some opportunities appear very promising, the challenge comes in actually exploiting these. One of the major challenges is to identify the right people who share your vision in creating an enterprise. All said and done, creating an enterprise is never an individual affair. Also creating the right network of people in the market is also equally challenging. It is difficult to convince people about a new idea, especially when it comes from a first time entrepreneur. Getting adequate resources is equally difficult. Often, finance is a constraint for a startup. Often, for want of adequate money, one cannot go full throttle on the idea. Coping with the uncertainties of a new business can also be unsettling. For this finding a right mentor is also important. What are growth prospects in this field? I believe growth is a function of the efforts that one puts in identifying the opportunity and making the right plans for execution. My current business is of selling water purifiers. With the quality of water deteriorating across the country, the need for clean drinking water is going to rise. The need for good health is going to encourage people to seek water purifying solutions. There is a huge opportunity that exists in the market, which is evident from the entry of major players like HUL and Tata into this market, in addition to the existing players like Kent and Eureka Forbes. There is a wide discrepancy in the price and quality of the products available in the market. Also, most of the national players are focusing on the urban areas. There is a huge opportunity to be tapped in the rural market, where people are equally keen to use quality potable water. This is the market which we plan to tap with our own brand of “AquaFit+”. Our objective is to offer high quality products, at affordable prices, to the rural market. What are your future goals? There are a number of opportunities which I am evaluating for the future. The focus would again be the rural market, either for selling affordable products to the rural masses, or to source material from rural areas and find a market for these products in other parts of the country and abroad. I am also working on a plan to get into the handicrafts business wherein the products would be sourced from villages in Rajasthan and exported to foreign clients. What advice would you give to other budding entrepreneurs? If you have a dream, chase it. Nothing in life is more satisfying than translating your dream into reality. India as a country offers many opportunities and if you have the right idea, you can make the best of these opportunities. There may be challenges, but your ultimate goal should be so strong that you should be able to overcome these challenges easily.
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Twinning — the winning mantra
Since the expansion of modern technology via the Internet has helped squeezed the whole world into one global village, a ‘revolution’ of sorts has come in the realms of higher education in India and abroad. Blurring boundaries, a student can get the best of both worlds anywhere anytime in a most cost-effective way, fighting global recession.
‘Twinning programmes’ of some education institutions in the region have stood the test of time in realizing the dreams of GenNext that means business. Shifting gears and changing priorities, our boys and girls are currently going in for 2+2, two years of study in India and two years abroad, and are earning coveted foreign degrees. For the uninitiated, such a programme allows a foreign partner institution to offer the first half of its university degree programmes by replicating segments of the curricula. It is a win-win situation for students ‘dying’ to go abroad but tied up here due to current stringent visa regulations by some much sought-after countries. Through a twinning arrangement, overseas students in the US, for example, may earn about 60 credit hours in the beginning courses of selected majors i.e. business administration, communications, computer science, engineering, psychology, and the physical sciences. So, they can complete their freshman and sophomore years without leaving their home country. The students who successfully complete such a twinning programme are guaranteed transfer of their credits to the foreign university. They can then finish their Bachelor’s degree in about two years at the university or transfer to another institution of their choice. Courses offered in India are clones of the university courses, using identical syllabi, titles, numbers, texts, teaching formats, and evaluation standards as their model on-campus. “Since our twinning programmes are based on US pedagogy, they provide students with an opportunity to choose their specialisation after they join our partner university abroad,” says Ashok Mittal, the Chancellor of Jalandhar-based Lovely Professional University. LPU has tied up with various world class universities and the students can choose from the list of the partner universities on the basis of merit. LPU has recently tied up with over 20 universities in the US, the UK, Canada and Australia in courses like B.Tech, BBA, MBA and BSc (Hospitality Management). Apart from science programmes, hospitality is much in demand today as a career option in India and abroad. Students from urban areas of Punjab and Chandigarh are enrolling themselves for degree and diploma courses in this field. Following a recent tie-up of Patiala-based Pearls Institute of Hospitality and Management with HTMI (Hotel and Tourism Management Institute) of Switzerland, a number of students from the region are opting for a four-year BSc (Hons) in International Hotel and Tourism Management. Under this programme students can study two years in India and two years in Switzerland. “Though we never promise a PR to our students, this much is certain that they would be able to get an international degree at the end of four years in Switzerland, the world’s number one in hospitality industry today,” says Pearls Director, Capt. Sandeep Sandhu. “Actually, after finishing Plus II a student is not fully ready for a course in a foreign country. Our training helps him prepare for a kind of life that he is going to lead in Switzerland. We make sure that our students don’t get any cultural shocks abroad,” he adds. Jalandhar-based Dr. B. R. Ambedkar National Institute of Technology (NIT) is soon going to sign a Memorandum of Understanding (MoU) with some East German universities under the twinning programme. “We already have a twinning arrangement with the York and Dundee universities of England and now we will have some tie-up with two German universities for MTech and PhD programmes,” reveals Dr Moin Uddin, the Director of NIT, Jalandhar. “Our students have very good logical and theoretical skills but fall apart when it comes to their practical implementation due to lack of infrastructure here. But countries like Germany are far ahead in imparting practical training due to their world-class labs,” he says justifying his desire to have tie-ups with the world leaders. A delegation from two key universities of East Germany was on the NIT campus recently and expressed its desire to have tie-ups in all the disciplines of higher education viz. Mechanical Engineering, Electrical Engineering and Information Technology. Even if the students are not able to make it to foreign universities because of one reason or the other, they can complete their entire course in their Indian institution and still get a foreign degree. That’s the beauty of these twinning
programmes.
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Attrition at top
Amid the improving economic climate, at least one in every two companies surveyed in North America saw their top performing workers leaving them in the first six months of this year, said a survey.
According to the survey by talent and career management firm Right Management, improving economic conditions are providing opportunities, which have led to increasing attrition of strong performers. “About 54 per cent of organisations involuntarily lost high-performing workers during the first half of the year,” the survey stated. The survey that analysed inputs from over 550 respondents throughout North America through an online poll, said only 28 per cent of organisations were able to retain most of their top talent. “Organisations need to focus on their top performers. The real top performers in any organisation will always have opportunities to move. As business conditions improve, this will only create more opportunities,” Right Management Senior Vice President and General Manager Bram Lowsky said. The report identified the high-performing employees as the key for companies to execute their business strategy. “A business’ viability is at risk when workforce strategies and talent plans are ignored,” Lowsky said. Right Management has advised employers to be in tune with employees at both individual and collective levels. “While engagement studies may provide insight into the sentiments of the overall workforce, it’s still essential for companies to have an overall engagement strategy, one key component of which includes career discussions with individual employees”, Lowsky said. —
PTI
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No insurance against job cuts
The life insurance industry in India is all set to go under a paradigm change from September 1. While the investor is bound to gain from it and it would make the business of life insurance in India long term, on the jobs front the news doesn’t seem to be that sunny.
The Indian insurance sector is likely to register unprecedented growth of 200per cent and attain a size of Rs 2,000 billion ($51.2 billion) by 2011-12, in which the private sector insurance business will achieve a growth rate of 140 per cent as a result of aggressive marketing techniques being adopted by them against 35-40 per cent growth rate of state-owned insurance companies. The aforesaid findings are made by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) on `Insurance in Next 2 Years’. Currently, the insurance sector size is estimated at $41 billion. Estimating the potential of the Indian insurance market from the perspective of macro-economic variables, ASSOCHAM reveals that India’s life insurance premium, as a percentage of GDP is 3.7 per cent against 5.2 per cent in the US, 6.5 per cent in the UK or 8 per cent in South Korea. According to the data by Insurance Regulatory Authority of India (IRDA), the new business income of life insurance companies went up by 77 per cent in the first quarter. Income from selling new policies went up to Rs 25, 522 crore as against Rs 14,456 crore in the corresponding period last year. The moot question which comes to the mind as of now is why IRDA wants to change the winning combination in spite of Insurance industry showing a robust growth. Secondly what are the proposed areas and dimensions in which the regulator wants to have the stipulated changes? If we look at it would be complete over-hauling of the existing insurance mechanism. IRDA now wants a complete overhaul of the rule governing insurance agents. Insurance regulator is pushing for a change in rules so that insurance is sold as a long-term product. “Currently, more than 70 per cent of the industry’s business comes from agents,” said P. Nandagopal, chief executive of a major private life insurer. “Tenure-based commission will definitely benefit the industry. High commission will come down and there will be better reward for longer-term policies than the shorter-term ones.” But, he added, “With agents shifting from one job to another, implementation could become difficult”.
Change in job scenario
Now, with insurance being projected as a long term savings instrument, the companies would now be working on a cost effective structure. Since, the front loading charges which the insurers used to charge their client would be moderated, so this is bound to have a cascading effect on the work force. Agency channel is going to suffer badly. Agents since they won’t be making in heavy profits are likely to shun it as a source of their part time business. “With a cap on the charges, ULIPS of 10,000 to 15,000 would be practically not possible for the companies to offer to their clients. As the costs are being cut we are expecting to reduce our strength of agency managers by about 20 per cent in this year itself. As such we expect lay offs to happen in the industry”, remarked a senior official of private life insurer. Rumours regarding the pruning of the existing packages are also doing the rounds. Since the companies would not be able to deduct heavy charges from the clients, in order to keep the fleet on street in good humour the insurers might have to fund the various incentive schemes for the advisors from their own pocket. “We are seriously looking at pruning our existing costs, and would to strike a balance between cost consciousness and healthy payouts for our fleet on the street”, remarked a Senior Divisional Manager of Bajaj Allainz.
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Dairy training concludes
A 15-day dairy farming training course for the farmers of Punjab and neighbouring states was organised at Guru Angad Dev Veterinary and Animal Sciences University (GADVASU), Ludhiana recently. Dr H.K. Verma, Course Director, Prof-cum-Head, Department of Veterinary and Animal Husbandry Extension Education, said that after this basic training the farmers could go in for commercial level training organised by the university or have a hands on training on other aspects of dairy farming like AI training programme organised by the Dairy Development Department and Animal Husbandry Department of Punjab.
A total of 46 farmers from Punjab, Haryana and neighbouring states, including three women farmers, enrolled for the course. According to Dr. Kulbir Singh Sandhu, Director Extension Education, GADVASU, the university organises such training on a regular basis viz dairy farming, poultry farming, piggery farming and many other courses.
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Happiness work
For most of us, the consumer of our product is a distance away. But that doesn’t mean you can take him for a ride. Always remember he is bright enough to spot your mistakes and move over to an alternative if your carelessness exceeds tolerable limits.
The British didn’t think the illiterate and poor peasants of India would raise a voice against high taxation, but the farmers revolted during the Santhal rebellion in 1855-56, Bombay Deccan ryots’ revolt in 1875, Moplah uprising in Malabar in 1921 and took active part in India’s First War of Independence in 1857. Duryodhana thought the Pandavas would not come to know about his wax palace in Varanavata, but Prime Minister Vidura alerted Yudhisthira by code language. Then, he set up a situation by which the Pandavas would have incurred the wrath of sage Durvasa for not having food to feed him and his 10,000 followers at Dwaitavana, but for Krishna’s intervention. As an act of truce, Afzul Khan, a commander in Bijapur, called Shivaji to his camp in Pratapgarh. Khan thought that with just two soldiers by his side, the Maratha would be easy prey. But before Afzul Khan could stab him in the back, the ‘mountain rat’ tore his stomach with his tiger claws. When he became king, Drupad spurned the friendship of Drona, his childhood friend. “Friendship exists between equals,” he said not realizing that this poor Brahmin had been given weapons training by none other than Parashurama. Years later when Arjuna caught Drupad on Drona’s order, the guru spared his former friend’s life and returned half of his kingdom. When Akampana and Mareech told Ravana that Rama could not be defeated in a face-to face fight, he decided to abduct Sita to avenge Soorpanakha’s disfigurement. “As Rama loves his wife so much, the separation will destroy Rama’s manly vigour. Then I will kill him,” planned the King of Lanka. Alas, Ravana miscalculated Rama’s tenacity and took his golden realm to near annihilation. In today’s world of choices, customer is king! — Sai R. Vaidyanathan The writer can be contacted at
svaidyanathan@tribunemail.com
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