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Short route, long lead
Career
Hotline
field
in focus: negotiation and conflict management
Finding your feet in mass media
Is it time to change track?
Perform and GET
Walking stations a profitable deal
Happiness
@ work
campus
notes
course
cruising
course
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trends
Scholarship
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Short route, long lead
The number of Indian students going abroad for studies has been increasing steadily for the past few years — so has the number of those wanting to go abroad. There is a growing interest among students to explore education opportunities abroad, but this decision is often difficult without the means or the wherewithal to know what they should do. What makes education abroad a fascinating experience is the variety of subjects and courses that are on offer. Have a yen for music, what about looking at audio engineering? If you’re computer obsessed, creating video games might be what the doctor orders! This menu of options makes study abroad fun and stimulating. Moreover, flexibility of the system allows for mid-course change of subjects, dual degrees or double majors — you can specialise in more than one area of interest, or even take up subjects like fencing along with physics if you want to. With such a smorgasbord of options students can look beyond the familiar ambit of engineering, computer science and business management.
However, for most students studying abroad is a pipe dream, as raising the finances or getting admission into a good institute can be far beyond one’s ability or means. For such students there is another option. If you want something a little different from the standard degree programme, or need practical skills or professional contacts more than an educational qualification, or perhaps you would prefer a “real world” experience that allows you to travel or work outside of a university environment, you can find exactly the kind of programme that suits each individual’s need. You can have your cake and eat it too if you look at some short courses abroad that can provide just the right amount of exposure and finish to any education. There are courses in practically every subject possible, which allow one to upgrade skills or enhance academic qualifications. So students can really have a choice both in subject, and in the country and location. Broadly there are three types of short courses
Summer courses Most universities around the world allow students to take classes on campus without enrolling in a degree programme — you may simply want the learning experience of studying abroad. During the summer, many US universities offer courses that are open to both non-students and those already enrolled. While there are likely to be some requirements (such as English language proficiency), the best part is that participants in summer programmes generally do not have to go through as complicated and rigorous an admissions process as they would to gain admission to a degree programme. Summer classes are often more fast-paced than those offered during the regular academic year, covering material in five to eight weeks that is usually covered in a 13 or 16-week semester. Whether it be UCLA, or UPenn, University of Austin, Texas, or New York or LSE, London or University of Kent, the Summer Sessions offer hundreds of courses in short-term intensive formats that are ideal for students visiting from other countries. The courses range from Business Studies, Communications, Engineering & Computer Science, to Cultural Studies, Film & TV, Language & Literature, Performing and Visual Arts. You can get a fresh perspective in your chosen field, try out new subjects or simply develop your language skills. For example, University of British Columbia in Canada offers a pre-university programme for international students to introduce them to what is expected of them in an international university environment. The programme for 15 to 18-year-old high school students from around the world can be taken over two, four or six weeks. It includes classes in English communication and critical thinking skills as well as Global leadership and sustainability awareness, while the International Summer Programme at the Desautels Faculty of Management at McGill is designed to provide international undergraduate students an opportunity to gain critical North American perspectives on issues of global importance. With such a vast canvas to work on, it is best to select the country and university you wish to study at and choose a course based on the discipline you wish to pursue. Certificate Courses More and more international students and professionals are turning to certificate and specialised training programmes offered through established universities abroad in different countries to gain both practical skills and knowledge in a variety of fields. Short courses update their credentials for career advancement and a certificate is granted upon successful completion. Certificate Programmes are offered in a variety of formats-from intensive programmes lasting several weeks to longer programmes ranging from a few months to a year. Sessions are generally available throughout the year. Certificate and short-term programmes emphasise a practical approach. They can include lectures, discussions, guest speakers, field trips and company visits. Project-based classwork helps students apply what they have learned to real-life situations. Students learn to work effectively in
teams while using the language skills they have acquired. If you are looking for professional accreditation, City University, London offers professional development opportunities across a range of industries and disciplines. For law professionals there are courses in a wide range of topics including drafting, advocacy, negotiation, witness familiarisation and higher rights, or a number of occupational and vocational expertise building programmes for healthcare professionals and so on. London School of Business and Finance (LSBF) offers a full-time 6 - 30 month international certification CIMA (The Chartered Institute of Management Accountants) course which focuses on the training and qualifying of accountants in business. The Le Cordon Bleu Academy in Paris attracts students from all over the world, and offers a range of courses — Cuisine and Pâtisserie Certificates and Diplomas, Wine and Management Programmes, short-term courses for food enthusiasts and others. Best students can obtain internships in Parisian establishments, an invaluable work experience which will reflect in future professional pursuits. Le Cordon Bleu also offers a Restaurant Management programme for future professionals and entrepreneurs to give them the necessary skills to develop their own restaurant business and make it a success. This is a one-year programme composed of six-months of courses divided into two trimesters, followed by a six-month internship in a culinary business. Non-formal courses There are also short-term educational programmes offered in the US, UK, Australia, Canada and many other countries that may not even result in a formal qualification. Rather, these are designed to build and update practical, professional skills and meet a variety of career needs. The duration of the courses may vary from a day to a year, with most training lasting between one and six weeks. Many short-term training programmes include brief work experiences in the form of professional internships, which is the ideal way to earn hands-on experience in an area of interest without a commitment to a job or career. In fact, if a vocational skill is what you are looking to perfect, Australia is probably your best bet. From dog and cat husbandry, audio engineering and sound production to entertainment make-up, film and video production, real estate management, health and fitness studies and floristry there are a wide range of professional courses with state-of-the-art equipment and facilities. If you’re looking for some interesting courses in art and design, you couldn’t do better than aim for the UK. Art schools offer a range of programmes in areas such as typography, textile design, animation, jewellery and computer aided design (CAD). You could learn all about art management and auctions at Christie’s, or learn to design, make and restore furniture at the Chippendale School of Furniture. On the beat or off beat there are a huge number of amazing programmes in a wide range of fields each offering great opportunities for the brave explorer. Most courses do not require a King’s purse to pursue, nor months of preparation and documentation. They also introduce you to a foreign milieu and provide a wonderful opportunity to imbibe the best from a global environment. So before you close the door to study abroad, open your mind to the enormous possibilities and be ready to go where not many students have gone before. — The writer is Director,
Career Smart, New Delhi
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Career
Hotline Pervin Malhotra
Q. Our son is really keen to become a puppeteer. Although initially we were dead against it, seeing his passion and conviction we have finally relented and are keen that he gets the right platform. Could you please give the necessary details? A. True, puppetry is no run-of-the-mill profession but trust me for professional puppeteers this is serious business and I am glad that as parents you can understand your son’s need to find his own niche. One of the oldest art forms of story telling, puppetry has come a long way from the days of string puppets like Gulabo Sitabo to the gargantuan splendour of the dinosaurs of Jurassic Park. Believe it or not, Spielberg’s life-like dinos were manipulated by a veritable army of puppeteers! Puppetry can be one of the cheapest mediums of mass communication or one of the most expensive — depending on what kind of props, supplies and backdrops used. However, as a parent you must explain to him that it is, and I repeat, very difficult to eke a living out of this profession. True, some TV channels are using puppets and this dying art is once again being resurrected but we still have a long way to go. Your son needs to be highly motivated to survive as the work is sporadic and even talented puppeteers may need to rely on a secondary income. Getting paid for being funny is serious business. Another major stumbling block for budding puppeteers is the dearth puppetry teaching schools in India. So the only way to learn the ropes is by apprenticing with a professional puppeteer. If your son plans to start out on his own he needs to get the financials in place and find a suitable venue to exhibit his craft. Also do visit www.sagecraft.com, www.puppet.org, www.puppeteers.org, http://puppetryindia.com for a wealth of info on scriptwriting, different kinds of puppets — shadow, rod, marionettes etc. Meanwhile, the government does offer some financial aid to puppeteers but generally traditional performers are preferred. In Delhi you can contact the following puppet theatre groups: Ishara Puppet Theatre Trust, B2/2211, Vasant Kunj, New Delhi 70 (www.isharapuppet.com) Dadi D Padumjee Kat Katha, 108 Siddharth Enclave, New Delhi http://katkatha.org (Anurupa Roy) Janmadhyam, C-18 Chirag Enclave, New Delhi 48 www.janmadhyam.org
Can I work in Canada while studying?
Q. I have applied for admission to a few colleges in Canada for pursuing my bachelor’s in engineering. Since I will be taking a study loan, I was wondering if I will be able to work in Canada while still studying. A. In Canada, you can work on or off campus while you study, and even stay for up to three years after your graduation to gain work experience and marketable skills in your field. The kind of work you get will of course depend on the type of visa you obtain, and where you’re looking to work. To ‘Work On-Campus’ you must be a full-time student at an approved public/private post-secondary institution with a valid study permit. No separate work permit is required. Your school’s career centre will be a good source of information on the part-time on-campus work opportunities. To ‘Work Off-Campus’, you need to apply for an Off-Campus Work Permit which is issued to full-time students who have completed six months of study at an approved post-secondary institution. Check the list of approved schools on: www.cic.gc.ca/english/ study/institutions/participants.asp Alternatively, contact your school’s international student advisor for details on obtaining and maintaining this Work Permit. Internships & Co-Ops Some academic programmes require you to complete a co-op or internship as part of your study. However, you’ll have to apply for a Work Permit in addition to your Study Permit. For criteria on obtaining the appropriate work permit: www.cic.gc.ca/english /study/work-coop.asp You haven’t mentioned whether you’re opting for a Co-op programme. Co-operative education programmes are ideal for those who wish to mix work and study. They allow you to pursue a diploma or degree that includes paid work experience. Moreover, they will help you find placements in your field after you complete two semesters of study. It may take a little longer to finish your course, but it will give you the chance to find out what type of work suits you best. Do consult Citizenship & Immigration Canada for details on visas and work permits, and your school’s international student department for help in guiding you through the process.
Marketing jobs in a bank treasury department
Q. I am pursuing MBA (Fin & Mktg) and am very keen to work in an international bank. Could you please tell me what marketing jobs there could be in the bank’s treasury department? —
Tushar Mahiwal
A.
Every commercial bank has a treasury department that basically performs the following functions: Trading (in currencies, securities and now, derivatives); Balance Sheet management (borrowing and lending the bank’s funds on a daily basis, investing in securities, etc.) However, MNC banks and the new private sector banks also have sales teams, which basically help corporate clients in selling or purchasing foreign currency. So, basically in terms of products, treasuries mainly deal in foreign currencies (spot and forward), bonds, government securities, etc. However, a few years back, RBI allowed banks to deal in financial derivatives (which are essentially products derived from underlying currencies, and securities). As a result, banks can now trade in as well as sell derivative instruments like swaps and options. Some of the leading banks in the country (that sell derivatives to corporates) have sales teams catering to corporate clients for both currencies and options. And since most commercial banks have been making losses on their investments (because of increase in Indian interest rates), sales, essentially corporate, has been an important source of income for treasury. So, where would you fit in? Well, you could be manning the “Institutional Sales” desk in the treasury department which focuses on other commercial banks and financial institutions. But what do you sell to institutional clients? Starting with distribution of bonds (i.e. buying bonds in the market and selling them at a premium to other banks) you could graduate to selling the most “happening” thing in the market — financial derivatives. So you could be selling derivative instruments to banks for their own balance sheet as well as to sell them further to their corporate clients.
email your queries to careers@tribunemail.com
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field
in focus: negotiation and conflict management Sanjiv Marwah As the world marketplace becomes increasingly diverse and inclusive and people from all walks of life discover themselves working mutually than ever before, conflict became inevitable. Business leaders who realise the positive aspects of conflict can leverage the power of conflict resolution skills to construct better teams, gain productivity and develop better communication among employees. Proven negotiation skills can set you apart from the opposition and lead to a variety of career routes across industries.C Negotiation and resolution with regards to conflicts is a career profile that is becoming popular now. Experiencing the complex nature of conflicts in various areas, a growing interest has been observed in this field, and many private and public enterprises are hiring experts to handle and resolve conflicts with clients. Annually, a 10 percent boost has been found in work related to conflict solution in the public as well as private sector. The field Negotiation is not a gag. It is through negotiations that countries settle challenges first. But for this war would have been an every day affair for every person on earth. Negotiation is not pleading. It is a dialogue projected to produce a harmony for the right reasons. It is a dialogue that has come up with conflicting interests — yours and the other person’s. In a successful negotiation, everyone wins — you, and the person or the organisation with whom you are negotiating. And if you want to study how to win and allow the other person to win at the same time, you should study to negotiate. Scope The newness and process of growth in the field of conflict resolution makes it stimulating as well as challenging with respect to career opportunities. The lack of lock-step conventional career paths means great flexibility and sincerity to new ideas and accesses. The most demanding positions are offered by government agencies and international organisations like the United Nations where conflict resolution and negotiation is a crucial part of the substructure. United Nations’ jobs are typically more soughtafter, particularly when you have a graduate or a postgraduate degree in the field. Administrative jobs can also be equally exciting but are more time-consuming and synergistic in which you are faithfully resolving issues. Besides, many advising centers offer good prospects to people who are experts in their area as well as non-profit organisations. Skills Strong communication, crisis-solving, systematic and engagement resolution skills are essential. A negotiator must have the ability to uphold confidences, exercise sound decision and judgment, work cooperatively with others and promote valuable working relationships with clients, agencies and the general public. In addition to a high level of competency, successful mediators are sensitive and can understand the needs of their clients. Objectivity, honesty, creativity and tolerance are also crucial for this particular profession. Jobs prospects One of the foremost sectors for jobs in negotiation and resolution are insurance and brokerage sectors. Agencies in these sectors require people to find solutions in case of differences with clients and come up with a win-win proposal for both parties. Local government also needs experts in negotiation and resolution. Political parties and big businesses have people on their boards to discuss as a third -party intervention. Educational institutions also hire experts for negotiating and resolving scholarly and organisational issues. With a management degree in conflict and negotiation, students can seek a number of positions with businesses that utilise human resources, negotiations and employee relations to achieve long and short-term business objectives. Students can also become business experts for non-profit establishments, corporations and private businesses. Conflict management professionals work directly with HR people, making business communication an important task. Typical career options include: Arbitrator Getting in Negotiation and Conflict Management has become a part of management specialisations in several B-schools. To enrol in a conflict management master’s degree programme, students must have a graduation from a recognised university besides relevant GRE or GMAT test scores for assessment. More recognisable advisors should consider the Diploma in Professional Consulting which will increase knowledge and skills to function as a Negotiation Consultant. Conflict management courses educate students to deal with all types of business, economic and functional conflicts within establishments. Students learn to direct negotiations between people, leaders and third parties. In addition to finding negotiation and settlement techniques, students also discover advanced business and economic conceptions in order to efficiently apply conflict management outlines. Usually the courses include: Negotiation and mediation Remuneration Since jobs are available at various levels, the wages are sufficient to openings in diverse sectors. Salary structure would depend on many factors like skill, talent, and work experience of the person. An individual working for an MNC can get around Rs 12 - Rs 15 lakh per annum. A senior level professional negotiation and conflict management professional can earn anything between Rs 15 lakh and Rs 20 lakh per annum. — The writer is Director, ERA Business School, New Delhi |
Finding your feet in mass media
The idea of weaving stories through mass media has found a newborn interest in our new generation. People enjoy moving, taking risks and coming up with stories that matter. Media is perhaps the strongest industry in any country, and good newsmakers are in high demand.
However, a job as a journalist comes with immense challenges and not many are able to beat the competition. For those looking to make it big, here are certain things that can help. Stay inspired Find a source of inspiration early in your life. It is people who love to read and write that eventually become good storytellers themselves. It could have started by writing illogical lyrics for a girl band or an impassioned note on Facebook – but it is effort in the right direction. If the news fascinates you, don’t write off those veteran editors and reporters whose views and styles seem passé to you. These people have brought in vast knowledge and experience, and know every in and out of the job. Get a mentor to help you ride through the initial frustration of not making it big. It does take time to make a name for yourself. Start making contacts Try tracking down a few alumni of your university who have made it in journalism. These people (and your professors) are the best people to help you start. Sometimes, recruiting services can help too. These contacts can put in a good word for you with editors, and perhaps get you an internship or a freelancing opportunity to start with. It is even better if you can contact the Editor of a newsroom that you admire. Try to land an opportunity to shadow be ‘sidekick’ to a reporter who is already working in the field. Hone communication skills Modern journalism demands a vast skill set. If you have been working on reporting, try your hand at shooting videos. If you happen to be a photographer, get down and write a story. Social media and programming skills help you consolidate yourself in this industry, too. News agencies want dynamic candidates who bring several skills to the table. Try to become an asset who won’t be easily replaceable. The basic checklist for the skills you should work on is: Writing Make your application stand out Just a degree certificate won’t help you much. News agencies require people who have experience and had been doing reporting in their capacity. This shows that the person is passionate about the field, and is current on his or her genre of interest. Here, an online portfolio can help a lot. This will necessarily include the articles you have published online, the blog/s you regularly update, the places you have been to and the situations you have been in, photographs that speak, and certainly your bio data. The definitive factor to will make your application stand out from the rest of the competition is your passion — and passion shows. HR executives are experienced enough to sniff out whether you really belong to this line of work or not. — The writer is a Human Resources and business strategy professional and a consultant for start-up ventures in South Asia.
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Is it time to change track?
Are you feeling that you have reached the end of the rope in your career and would like to change? Though many will not admit to it, the fact is that almost each one of us has felt this way at one point of time or the other in our work life. While some take the plunge, most just stand aside watching the tide of time and keep asking themelves “Do I stay or do I go?” How can you tell if you should change your job or career or not? There are some tell-tale signs to determine reliably and effectively if you should go for the change:
Morning blues If your Monday morning blues are becoming everyday morning blues and you swear and mutter an oath every time you leave home to go to work, it is a sign that you are mentally exhausted and there is no excitement in your work. You spend a major chunk of your time at work and if you do not like it, it would show in the way your body behaves. You would be down with chronic flu and would always be thinking of an excuse to stay at home. Your body tells you what your lips can’t. It may be your specific job or toxic work environment that is breaking you down, but often it’s your entire career that needs a shift. The question then becomes, shift to do what? There is where people have to decide if they are going to make a change to yet another company or if it’s time to re-examine what is really important, and how you really want to live, and work Round peg in a square hole More often than not you feel that you are not using your inherent skills at all. You are a people’s person and would love to interact in board meetings about the launch of a new product, changing patterns of consumer behaviour and new marketing strategies, but your job requires you to be in research and development where you spend most of your time alone- glued to your monitor screen. No wonder you feel like an alien on your workstation. Golden handcuffs You’ve come to the point where your salary no longer makes up for the boredom and emptiness that you feel. Agreed, you dislike your work but are reluctant to change and it’s the fear of walking away from the money that keeps you stuck. This money makes you pay the bills, for the house loan EMIs and sends your kids to international schools. The result — you are handcuffed. You are too scared to break free. But at some point, you say, “Hang on here — I have this money, but I hate how I spend my life making it.” You begin to rethink the priorities and the abilities, and feel you need to open your eyes to new ways of making money. Choice or compulsion? Ask yourself if you are in your profession by choice or by compulsion? If you choose to stay where you are because it gives you many paid offs or the timings are just 9-5, believe me, you will be having the life sucked out of you, before you realise it. Despite all the “right” choices you made in your career, the outcome would not be gratifying. So many professionals have made all the “right” choices, done everything that was expected of them, so when they wake up bored to death with their work, they’re shocked and confused. Something that was just right yesterday, is not just working out today. Circumstances change and so do people. As a fresher the travel jobs would excite you but as you have a family, the same job tires you to the core. The thing to realise here is that the “right” choices usually had to do with pleasing others, stroking your ego, or taking work or a promotion that fell in your lap, rather than asking yourself the tough questions like “Is this where I belong?” Feeling under-utilised At times people grow and elevate at a far greater speed than their job, so much so that they start feeling that their talents and abilities could be used in a more creative and impactful way. I used to say to myself every day in my corporate life, “I know I’m made for better things than this.” But I didn’t listen to myself — I thought I was crazy. If you think, “There’s got to be more in life,” then there IS more to life than what you’re currently doing. There’s another way to live and work, even though you can’t see it yet. In my own career change journey, this was the strongest motivation for me to resign from my job in education, go for an MBA and tangentially enter the corporate world. If you are already a “success” in your career you might feel trapped with what you earn and have. These are all things that keep you from changing career: salary, years of experience, lifestyle and habits. That was my situation. Because I really wanted to use my abilities in a more impactful way, with all that I earned and had, I still wanted to start my career all over again. To be or not to be… Professionals who desperately need and want change in their careers have gone viral. Look at all directions that potentially excite and interest you — starting your own venture, working for someone else if that appeals to you, becoming a consultant or freelancer — whatever will fit your personality, skills, talents, and desires best. It’s important to know, however, that many people are not suited to entrepreneurial life and would not be happy in it. Do not just jump from one boat to another just because it sounds cool. Avoid the Pendulum effect of moving from one extreme to another. Therefore, if you are feeling lost & suffocated in your current job, think of switching gears, and take the plunge.
After the transit
Changing careers is like changing your life partner. Suddenly, you have the whole world to explain your position to. You’re likely to face a litany of rejoinders: Why would you want to do that? Isn’t that a little risky? Are you really qualified? There would be a segment of people who would avoid you like the plague and suddenly extol you to the skies once you have proven yourself in the new field. The most important step in getting others onboard with your career transition is crafting a compelling narrative. It’s a tool often overlooked by all those who choose to reinvent the wheel, but it can be a critical determinant of success in winning others’ support for your professional goals. Harit Dutta, a guitarist, left his band and joined Technossus LLC as a Management Consultant. The company housed in California also runs resource centers at Ludhiana and Hyderabad. He felt apprehensive sharing his background when he first transitioned into his new career as a management consultant. “I didn’t want anyone to know I was a guitarist,” he says. “I had a lot of strings going in my head. The project managers I had worked with felt I was some nincompoop with no knowledge of business, and people in business certainly weren’t interested in what I did.” But he eventually came to realise his history wasn’t a liability, but a unique strength in the business. “The way I see the world is very language-driven,” he says. “I listen to trace nuances and connections and patterns. That’s the way I look at the world and I take that to any interaction with the client, so I’ve learned to ask really good questions. Today I have graduated to the position of VP, Strategic Initiatives owing to my knack of maintaining harmony both within and outside the organisation.
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Perform and GET
The annual appraisal time increases the employees’ expectations regarding a salary raise. However, in 2014 if you are looking for a better appraisal or a high salaty hike then gear up to work more and show a steady performance chart as revealed by the slary report released by Aon Hewitt last week. “The focus now will be on the key performers as most of the salry hikes will be for those who perform well for a company than for the non-performers or the average performers.”If a typical worker gets a 10 per cent hike than a star performer can get anywhere close to 18 per cent”, says Anandorup Ghose, Rewards Consulting Practice Leader at Aon Hewitt India,
On the back of improving business confidence, positive expectations from the general elections, and moderating inflation, the results of the 18th edition of Aon Hewitt’s Annual Salary Increase Survey in India projected a 10 per cent salary hike for this year. The survey results, represented by 565 firms, maintained that this hike was marginally higher than the projections made in September 2013, but the lowest the country has seen in a decade (barring FY2009 when markets became extremely cautious post the global financial crisis). “This period reflects the easing off of the unsustainable turbo-charged pre-crisis economic growth. Even though growth appears to be strengthening in both advanced and developing economies, it is expected to be muted and slower paced than in the pre-2008 era. This sentiment is reflected in India’s slightly higher salary increase projections for 2014. “It will be .2 per cent lower than that in 2013 and .5 per cent lower than that in 2012”, says Ghose. According to Ghose by global standards India is at number four as far as the hike in salaries is concerned. Venezuela, Argentina, Vietnam are the top three. This is basically because of the high levels of inflation as because of inflation there has to be a provision to offset the high cost of living. Sectors largely reliant on the domestic economy such as Pharmaceuticals, Chemicals, Engineering Services and Consumer Goods, are projecting the highest salary increases, typically above 10 per cent for 2013-14. In these industries, compensation costs represent a smaller percentage of the total cost structure. However, the cautious streak is evident as projections for 2014 have reduced by an average of 30 basis points from the actual increases provided in 2013 by these industries. Service industries like Retail, Financial Services, and Hospitality bring up the rear in salary increase projections, with these businesses impacted by the slowing down of the economy and consumer spending. In these industries, compensation costs are a significant portion of their total cost structure, thus managing salary costs has become an important element in their cost management strategy. Commenting on the outlook for different sectors, Ghose added, “Wage inflation will continue to be a high pressure point for sectors where wage cost is a significant part of operating expenses and revenues. This year will be a complex one for organisations, offering no clear signals as to how either inflation or business numbers will move in the next two quarters. It might be a good time to be conservative and focus on ensuring that key compensation and productivity metrics are actively tracked.” Low attrition Slow economic growth and limited opportunities in the market impacted attrition in 2013. It fell to 18.5 per cent, almost 1 per cent lower than previous years, with a reduction of almost 3 per cent at the entry level. With a growing recognition that motivated, high-performing talent is a sustainable competitive advantage, organisations are reshaping their strategies to safeguard their key talent. This is reflected in the lower average attrition for critical talent of 4.5 per cent, down from 5.7 per cent a year ago. Shift in variable pay On the back of increased cost prudence and rewarding true performance, spending on variable pay as part of total compensation has been steadily growing over the past few years. This indicates a shift in overall pay philosophy, as employers are tying a greater percentage of each employee’s pay to individual and overall company performance. Top/Senior Management see 23 per cent of their total compensation as variable (up from 16 per cent in 2001) and even the lowest rung entry management gets approximately 12 per cent of their salary as variable compensation (up from 10 per cent in 2001). “While having a successful performance-based incentive plan is important, it is critical to ensure that the right set of performance measures is used for the plan. We often find that companies focus on the wrong drivers of performance and value, or let legacy rules and metrics distort the current performance picture,” says Ghose Hiring will remain slow in the election year. As many as 60 per cent of the companies surveyed have said that they are unsure of the economic context. If it improves then automatically the hiring levels and salaries will improve but till then it is 'perform and get' — TNS
Performers to score better
With shrinking salary increase budgets, the one definitive change observed in the compensation philosophy of organisations in India is the increased reinforcement of the performance and rewards linkage. Top performers are projected to receive an average 15.3 per cent increase in 2014, almost 1.5 times the average increment provided to employees meeting expectations. This gap has been widening over the last decade. Additionally, in just last five years, the percentage of employees in the top performance rating has dropped by 30 per cent, implying that organisations are not hesitating to differentiate sharply on the basis of performance and then allocate a disproportionate share of the total increase budget to top performers, thus encouraging a high performance culture.
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Walking stations a profitable deal
Researchers have quantified the impacts of treadmill desks on workplace productivity and the results show why it’s better that the company buys walking stations for the entire office. The researchers conducted a year-long controlled experiment with employees in a financial firm. On average they found that supervisor ratings of employee productivity increased 10 per cent (on a 1-10 scale) and energy expenditure per day shot up 70 calories.
This generally confirms other evidence on walking desks, including one that found that doctors are 10 per cent more accurate at diagnosing patients while on a walking workstation (actually, their diagnosis rate went from 88 per cent to near perfect, 99 per cent, while walking). With any rudimentary back-of-the napkin calculations, outfitting the entire office with walking stations is a penny saver. As long as the new equipment satisfies this simple Productivity Increase + Healthcare Savings greater than Cost of Treadmill Per Employee equation, it makes perfect sense. If the average employee is worth $50,000 per year, treadmill desks add an extra $5,000 dollar worth of productivity. Indeed, if the actual productivity spike is anywhere near what other studies have found, it’s likely worth more than the $1,400-price-tag. — ANI
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Happiness
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work Revise route, goals periodically Just as a weather change will force a ship to deviate from its initial plans, planners need to regularly incorporate changes to suit any alteration in the conditions. As Hanuman sought a deity and a temple of his own, Veerabhadra — who had manifested from Shiva’s locks for the destruction of Daksh’s yagya — appeared before him. He brought forth a small idol of himself and disappeared. As Hanuman started visualising a small temple to house the idol, it began growing. The faster Hanuman placed stones around the idol for the temple, the faster the idol grew. Finally, Hanuman overtook the idol and managed to place a big slab over its head. Immediately, it stopped growing. This idol is still there in the Uddana Veerabhadra temple in Hampi. During a hockey match of the Punjab Indian Infantry Tournament in 1925, the First Brahmans Regiment was two goals down with four minutes remaining. Coach Subedar-Major Bale Tiwari had to think fast. So he sent Dhyan Chand in. The maestro slammed three goals before the final whistle. One day, King Shalivahana of Paithan and Ujjayini had two visitors from the Paishacha tribe. They offered him the Paishachi classic “Brihatkatha” written by their guru. As the king thought that Paishachi was a crude language, he refused to even look at it. Later, the king fell ill — as he had been eating inferior meat. The head of hunters explained, “A hermit in the forest is the culprit. Whenever he recites his verses, the mesmerised animals cease all activity. That’s what making them lean.” When Shalivahana went to check it out, the hermit — scholar Gunadhya who had once been his minister — was reciting the “Brihatkatha” in Paishachi. Realising his folly, the king took the classic to his capital. Biophysicist Jagadis Chandra Bose joined the University of London to study medicine in 1880. But when he went to the anatomy room, a fever surfaced. When he returned after a few days of rest, his fever recurred. As he was allergic to the odours of the anatomy room, he had to give up the study of medicine. So he took up the natural science course at Cambridge. In 1884, he took his degree in natural sciences and a BSc degree from the University of London. Destination matters, not how and when you reached there. — Sai R. Vaidyanathan |
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campus
notes
The university has signed an MoU on students and faculty exchange with Wondo Genet College of Forestry and Natural Resources, Hawassa University, Ethiopia. The MoU was signed by Dr G.S Shamet, Dean, College of Forestry, UHF Nauni and Dr Girma Mengesha, Dean, College of Forestry, Hawassa University. Speaking on the occasion Vice-Chancellor of the university Dr Vijay Singh Thakur informed that the university has excellence in different technologies related to forest conservation, development and management.
Dr Y.S Parmar University will provide two seats for MSc. students and two seats for Ph.D. students coming from Ethiopia. There will be joint activities the students on different cultural activities. A group of scientists will also be visiting Ethiopia. The Coordinator of the programme Dr Krishan Kumar Raina informed that a group of 8-10 students will be visiting Ethiopia and will work on certain thematic areas of forest management and its use in Ethiopia. He further informed that workshops will also be organised once a year in each of the participating institute. This MoU will be in operation for three years.
Seminar on increasing apple productivity
Precision Farming Development Centre of the university organised a seminar on “Precision Farming Practices for Improving Productivity of Apple” from February 28 – March 1. Problems related to apple production and marketing were discussed in detail at the seminar. Over 150 farmers from apple producing states of Himachal Pradesh, Jammu and Kashmir, Uttarakhand and other North-Eastern states attended this seminar. Discussions on apple production, suitable varieties, irrigation and nutrient scheduling and management, insect/pest management and post harvest technologies were held in the seminar. Different companies associated with precision farming technologies also exhibited their products. — Contributed by Ambika Sharma |
course
cruising Applications are invited by Netaji Subhas National Institute of Sports from the qualified candidates in AIPGMEE- 2014 for admission into PG Diploma in Sports Medicine 2014-16 session. How to apply: Application forms can be downloaded from http://www.nsnis.org The candidates should submit duly filled in application form along with relevant documents and a Demand draft of ~500 drawn in favour of “ The Regional Director, Sports Authority of India NSNIS, Patiala”, payable at Patiala either by post or in person to The Regional Director (A), Netaji Subhas National Institute of Sports, Old Moti Bagh, Patiala, Punjab 147001. Seats : State Quota seats - 3 Vacant seats if any transferred after 3rd round of All India Counseling (max -3) Date of counselling: April 7, 2014 Deadline: March 28, 2014 on or before 28.03.2014 Check out: www.nsnis.org MSc in Project Management
University of Southampton, UK, has introduced a new MSc in Project Management course at the Southampton Management School, starting in autumn 2014 and is inviting applications for the same. The course: This one year master’s degree programme enables the enthusiastic graduates to understand and analyse the key concepts of and various perspectives on the management of projects and their relevance to the real world practices, and programmes management. The compulsory modules will provide a foundation in project management concepts, applicable to any industry and any sector, while the wide range of optional modules will help enhance knowledge and understanding in many related disciplines. Eligibility:
The entry requirement for this programme is a first degree from a wide range of degree subjects, equivalent of a first or upper second classification (this is typically a minimum of 60 per cent or 1st division but these may vary by individual universities and are only a guide. Applicants should also submit a strong personal statement showing their interest in Project Management. In addition to academic qualifications, in order to meet the English language requirements, applicants need to have achieved either ISC or CBSE English with 70 per cent or taken an IELTS test and achieved an overall score of 6.5 .
Young Leaders Programme
Applications are invited for Young Leaders Programme (YLP) of the Indian School of Business (ISB). The course: The YLP is a well-designed foundation programme for outstanding undergraduates from diverse disciplines to get a head-start to their careers, by giving them an opportunity to seek deferred admission to the ISB’s one-year Post Graduate Programme in Management (PGP). The candidates then directly join the one year full time Post Graduate Programme in Managament (PGP) at the ISB after gaining one year and nine months of work experience. The key aspects of YLP are the Learning Weekends that include leadership and knowledge sessions with the renowned faculty of the ISB and industry leaders. During the pre-PGP period, all students are mentored by ISB faculty and senior management through a structured learning process. Eligibility:
The candidate must be in his pre-final year of graduation in any discipline. The selection process is a three-stage one which consists of profile evaluation, analysis of academic and analytical skills, GMAT score, written essays, video presentation and personal interviews. How to apply:
Online Deadline: March 15, 2014. Check out: http://ylpapp.isb.edu/user/
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course
chat UK-based Loughborough University has launched its Massive Open Online Courses (MOOCs) to provide free and accessible education opportunities for students. To begin with, the University will offer MOOC Innovation and Enterprise and MOOC Maths. The courses are being offered as part of FutureLearn which is the first UK-led provider of massive open online courses. The MOOC Innovation and Enterprise has been launched to enable students to learn how an innovative idea becomes a reality. The course starts from April 14 and will run for six weeks and will be taught for three hours per week. The course is being led by Loughborough’s School of Business and Economics. The Maths MOOC offered by the university is for aspiring engineers and scientists to think mathematically and explore essential concepts. The course will pave the way into the study of calculus by explaining that engineers and scientists need to build upon the ideas introduced in order to describe, analyse and predict the behaviour of physical, biological and technological systems. This is a three-week course that begins on April 28 and will be conducted for two hours a week. Eligibility: While the Innovation and Enterprise MOOC will be delivered at an undergraduate level and is open for all students, Maths MOOC is designed for students who have some engineering or science knowledge gained through vocational qualifications or through workplace experience who perhaps have not studied mathematics formally since leaving school. How to apply: Innovation and Enterprise course, visit https://www.futurelearn.com/register?course=innovation-and-enterprise and for the Maths course, https://www.futurelearn.com/register?course=mathematical-symbolism Check out: http://www.lboro.ac.uk/news-events/news/2014/january/12-futurelearn.html MSc in Data Science
Saint Peter's University, Jersey City, N.J., recently announced the launch of a Master of Science in Data Science programme with a concentration in Business Analytics. Announcing the launch, Lewis Cardenas, Dean of International Enrollment said, "This programme was developed to align with the "best of industry applied practice" in big data solutions and we feel will be very popular with international students". The MS in Data Science degree programme integrates computer science, statistics and data-based business management principles to inform data-driven decision making. Students can check out www.saintpeters.edu. for details.
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cubicle
trends A newly launched employment website works on the lines of online dating sites and matches the employers with the job hunters. ‘Emjoyment’, which currently focuses on technology jobs, shows the user a series of job descriptions, including details of the company, its location and a one-sentence description of the job, New Scientist reported. The job hunters click the thumbs-up or the thumbs-down button depending on if they liked what they saw. The employer sees similar employee cards, on which CV highlights appear as “key points”, and if both parties have clicked thumbs-up, then the employer and the jobseeker are put in touch. Emjoyment, which will soon be complemented by a smartphone app, shortlists the most suitable jobs using an algorithm considering the job hunter’s requirements, location and CV and as one gives the jobs a thumbs-up or thumbs-down, the system learns to narrow its searches to better matches. Adam Saven, who founded the website, said finding jobs this way is much more time-efficient than searching on well-known employment sites, which throws up thousands of results. — ANI Compensation, better roles main reasons for job-hopping
Compensation, job satisfaction and better roles are among the main reasons for employees moving jobs in the engineering, IT, financial services, FMCG and pharmaceuticals sectors, a recent study said. About 70 per cent of the surveyed employees said that compensation is the reason for changing jobs in the engineering sector. About 15-20 per cent of the candidates switched jobs to get exposure to a new area of work, global workforce solutions firm Kelly Services India's ‘Understanding the mind of an employee’ report said. The report throws light on the reasons for employee movements in India in 2013. In the IT sector, the job satisfaction was one of the primary reasons for switching, whereas for senior employees, monotony in the role was the main factor. Life science and pharmaceuticals are hiring IT professionals from mainstream IT industry. “It is vital for leadership teams and Human Resource departments to constantly revive policies for the existing employees. At the same time it is equally important for them to think of various strategies to engage better with them so that the rate of workforce retention increases,” Kelly Services India Managing Director Kamal Karanth said. — PTI
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Scholarship
roundup The Ministry of Culture, Government of India, offers scholarships for young artistes of outstanding promise for advanced training within India. Scholarships are awarded in the fields of Indian Classical Music, Indian Classical Dances, Light Classical Music, Theatre, Visual Arts and Folk, Traditional and Indigenous Arts. 400 Scholarships are awarded every year to young artistes who have already undergone a minimum of 5 years of training with their Guru/Institute. Eligibility: Candidates should be Indian nationals Candidates should have an adequate general education to pursue their training effectively; Duration: Two years. Details: Each scholar will be paid ~5000 per month to cover his/ her living expenses on travelling, books, art material or other equipment and tuition or training charges, if any. Selection process: The candidates recommended as a result of preliminary selection will be required to appear for an interview/performance before an Expert Committee. How to apply: Online. Deadline: March 28, 2014. Check out: http://indiaculture.nic.in/indiaculture/scholarship-to-young-artist ‘i-genius Scholarship’ Max Life Insurance has announced the fourth edition of its initiative ‘i-genius Scholarships’for children who excel not just in academics but also in extracurricular activities. There are two categories for enrollment — i-genius Juniors (Classes III to V) and i-genius Seniors (Classes VI to VIII). A total of 100 scholarships and 900 merit certificates will be given away. Eligibility: The scholarships are open to all children studying in Class III to VIII in government-recognised schools all over India . The distribution of prizes that will be given away is as follows-: How to apply: The registrations for the scholarship programme that will run in three stages, will be open till April 30, 2014 on www.i-genius.org . Post the registration the participants will have to give an online examination. Selected participants will then be invited for a video conferencing test with the jury members, who will then select the final participants. The final participants will be invited to Delhi for the last round, where the winners will be announced. Check out: www.i-genius.org. For Indian students in Ireland
University College Dublin is offering graduate scholarships for Indian students for 2014. Scholarships are available for most Graduate Taught Masters offered by UCD with exception of Graduate Taught Masters in the areas of Medicine and Medical Science, Veterinary Medicine, or in the Smurfit School of Business, or for Joint Masters. Eligibility:
Applicants should be Indian citizens and currently resident in India Applicants must be self-funding and classified as non-EU for tuition fee purposes Number:
55 Details: Five scholarships will cover 50 per cent of the tuition fee and 50 scholarships will cover €2,000. Selection Criteria:
The scholarships will be awarded on the basis of merit. How to apply:
Students should apply to their chosen course as normal. No separate application form is required. Deadline:
April 30, 2014. Check out: www.ucd.ie
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Fortnightly quiz 459
1. In how many phases will be the elections to the 16th Lok Sabha held?
2. For how many parliamentary constituencies will be polling held to elect Members of Parliament in April and May this year? 3. Which film recently made history by becoming the first movie from a black director to win the Oscar for the best picture award? 4. In which country is the place Nay Pyi Taw situated? 5. What is the full form of BIMSTEC? 6. Name the man from Canada, with 8.25-ft-long beard, featuring in the Guinness Book of World Records. 7. Who is the President of FIFA? 8. Which cricketer, who retired recently, captained in 109 Tests and won 53, both records for any nation? 9. Name the Pakistani spinner who had bizarre bowling figures of 0-0-8-0 in an Asia Cup match recently. 10. Who country recently won the Asia Cup cricket title for the fifth time? —Tarun Sharma Winners of quiz 458: The first prize by draw of lots goes to Adhiraj Singh Jasrotia; Class – IX-B; School — JNV Pekhubela, Una (HP); Pin Code — 174303 Second: Amarpreet Kaur; Class — 9th; Government High School; Harigarh; district and tehsil Barnala; Pin Code — 148105 Third: Riya Wadhwa; Class: VII-A; Ryan International School, opposite Pushpac Complex, 49-B, Chandigarh; Pin Code — 160047 Answers to quiz 458: Telangana; Sushil Koirala; Matteo Renzi; Kiev; $ 19 billion; Pacific Oyster; Renaud Lavillenie; Moin Khan; Brendon McCullum and BJ Watling; Brendon McCullum 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 on the letter/postcard to facilitate the delivery of the prize money. Answers can also be sent at quiz@tribunemail.com Name……………….…………............................................. |