COMPANIES IN EMERGING ECONOMIES OF BRAZIL, RUSSIA, INDIA, AND CHINA MOST CSR FRIENDLY

The competitiveness of the companies in emerging economies of Brazil, Russia, India, and China collectively referred to as BRICs has yet again been highlighted when analyzed on the basis of initiatives pursued on Corporate Social Responsibility (CSR) parameters when compared to peers in the eleven Central and Eastern European (CEE) Countries of Czech Republic, Estonia, Latvia, Lithuania, Slovakia, Slovenia, Hungary, Poland, Bulgaria, Croatia and Romania, according to the bi-annual survey conducted by the Partners for Financial Stability (PFS) Program of The United States Agency for International Development (USAID). 
The survey confirmed that companies in BRICs outperformed their CEE peers, maintaining their leadership over the last couple of years, in terms of the three aspects of the CSR initiatives, namely,
    * Corporate governance – This was further analyzed on five key aspects: corporate governance structure; compliance with a corporate governance code; company specific code of conduct or ethics; audit relation information; and shareholder rights policy
    * Environmental policy – This is further analyzed on five environmental issues:compliance with environmental laws and standards, disclosure of department or individual responsible for environmental policy; energy and water use; environmental reporting; and consideration of environmental issues in supply chain management
    * Social policy – The survey further analyzes five elements related to social policy: labor standards; sponsorship; employee development or benefits; health and safety policy; and employment policy
“Maintaining the trend of setting benchmarks of adhering to best practices over the last couple of years has got investors to fancy companies in the BRIC region to do business with. That has resulted in more than 450 Venture Capital and Private Equity funds to focus on the emerging opportunities in the region.” says Bundeep Singh Rangar, Chairman IndusView Advisors Ltd, the India-focused cross-border advisory firm.
The survey analyzes the extent of disclosures and availability of information in English-language websites and annual reports of companies in the sample regions under study as on April 15, 2008. 
“Following a meticulous regime of compliance on all parameters of environmental, social and governance responsibilities gains significance as it forms a part of the extra-financial data investors use to evaluate corporate performance and analyze risk in their decision making process.” according to Partners for Financial Stability (PFS) Program of The United States Agency for International Development (USAID).
This is the PFS Program’s ninth semi-annual Survey of Reporting on Corporate Social Responsibility (CSR) by the 10 largest listed Companies (by market capitalization) in 11 Central and Eastern European (CEE) Countries taking the tally to 110 companies. A fourth analysis of peer companies (the ten largest listed companies by market capitalization) in Brazil, Russia, India and China (BRIC) as well as Ukraine allows for ongoing benchmarking with these emerging market peers.
Corporate Governance

In Annual Report
Among the companies surveyed in the BRIC economies, the Chinese companies set an example by emerging the front runners in complying with disclosures on four parameters in the Annual Reports concerning ‘Corporate Governance’, Audit relation information, Corporate governance code, Governance structure, and Share holder rights; closely followed by India. Chinese companies in fact improved on its disclosures in Corporate Governance Code and Shareholders rights from last year. 
Indian companies led the tally in complying with disclosures pertaining to Audit relation information, Code of business conduct & ethics and Governance structure in the Annual Reports under ‘Corporate Governance’. Indian companies improved on their disclosures in terms of Code of Business Conduct & Ethics from last year but slipped in Corporate Governance Code, giving the lead to Chinese companies. 
All 10 companies surveyed in India were strictly following disclosure norms in the Annual Reports pertaining to governance structure, company specific code of conduct or ethics and audit relation information. Nine Indian companies shared information about shareholder rights policy. It was only in the case of compliance with governance code where six of the Ten Indian Companies surveyed maintained disclosure, falling behind China, Brazil and Russia.
When compared to CEE countries:

    * BRIC countries out performed its peers with 97% of the companies surveyed disclosing information on their governance structure in the annual report available online on April 15, 2008, compared with 84% of the 110 CEE companies surveyed.

    * All (100%) the BRIC companies surveyed disclose audit relation information, compared with 89% of the 110 CEE companies surveyed.
    * 72.5% of the BRIC companies surveyed provide information on compliance with a corporate governance code, compared with 48% of the 110 CEE companies surveyed in the annual report.
    * 21 BRIC companies (52.5%) and 16 CEE companies (15%) disclose information regarding a code of business conduct / code of ethics in the annual report.

    * 32 BRIC companies (80%) disclose information on shareholder rights policy in their annual report, compared with 55 of the 110 CEE companies (50%) surveyed.
The comparison of the trends this year between companies in BRICs and the CEE countries mirrors the trends from last year.
On Website
In terms of ‘Corporate Governance’ disclosures on the websites, among BRIC countries, Russian and Chinese companies share the lead on three parameters in disclosing Audit Relation Information, Governance Structure and Shareholder Rights Policy closely followed by Brazil and India, except in the case of Audit relation Information where Indian companies rank third with only two companies following disclosure norms on the website. 
On the other hand, Indian companies have improved as they move up to jointly share the lead position along with Brazil in code of business conduct/code of ethics when compared to last year, closely followed by Russia and China. Indian companies also moved up one place to share the second spot along with Brazil in disclosures on Corporate Governance structure.  
When compared to last year Brazil has slipped with its companies losing the lead that they had in disclosing shareholder rights to Russia and China, but retains its lead in Code of Business Conduct & Ethics and Corporate Governance Code. 
BRIC countries outperformed CEE countries on all the five parameters of disclosure in Corporate Governance on their websites.
          o 95% of the BRIC companies surveyed disclose information about their governance structure on their website, compared with 81% of the 110 CEE companies surveyed.
          o 45% of the BRIC companies surveyed disclose audit relation information, compared with 20% of the 110 CEE companies surveyed.
         o 29 BRIC companies (50%) and 47 CEE companies (43%) disclose compliance with a corporate governance code

         o 22 BRIC companies (55%), compared to 28 CEE companies (25.5%) disclosing information regarding code of business conduct / code of  ethics

         o 31 BRIC companies (77.5%), compared to 66 CEE companies (60%) surveyed that disclose information on shareholder rights policy on their website.
In disclosing the Corporate Governance initiatives the BRIC companies continue to maintain their lead over their peer group in the CEE countries when compared to last year.
Environmental Policy In Annual Report
Among the companies surveyed in the BRIC economies, Brazilian companies take the top slot on all the five parameters of disclosures in the Annual Report on Environmental issues - compliance with environmental laws and standards, listing of department or individual responsible for environmental policy, energy and water usage, environmental reporting and consideration of environmental issues in supply chain management. This is an improvement over last year as Brazil led other BRIC countries in four parameters except Reporting on Environmental Performance. Brazilian companies surpassed Russian counterparts to take the lead this year.  
Brazil shares the lead with India on two parameters - listing of department or individual responsible for environmental policy and energy & water usage. India shares the second spot with China on consideration of environmental issues in supply chain management. One parameter that saw the number of Indian companies slip to the fourth position from the second last year among BRIC countries was compliance with environmental standards. 
When compared to CEE countries on disclosures in Annual Reports on Environmental issues:
    * 42.5% of the BRIC companies surveyed and 33% of the 110 CEE companies surveyed report on compliance with environmental standards in the annual report available online on April 15, 2008.
    * 11 BRIC companies surveyed (27.5%) and 11 of the 110 CEE companies surveyed (10%) disclose information on energy and water use.
    * 40% of the BRIC companies surveyed and 33% of the 110 CEE companies surveyed report on environmental performance.
    * 15% of the BRIC companies surveyed identify a specific department/individual responsible for environmental issues, compared with 2% of the 110 CEE companies surveyed.
    * Nine BRIC companies (22.5%) and three CEE companies (2.7%) report on the integration of environmental considerations into supply chain management policy.
The companies in the BRIC countries continue to maintain their lead over the peer group in the CEE countries in disclosing information pertaining to environmental policies in their annual reports when compared to last year. 
On Website
In terms of ‘Environmental Policy’ disclosures on the websites, among BRIC countries, Brazilian companies lead the tally on three parameters - compliance with environmental standards, environmental considerations in supply chain management and energy & water usage. When compared to last year that is a slight slip from leading on four parameters. Brazil lost its lead in listing of department or individual responsible for environmental policy to Russia this year.
Chinese companies took the lead in reporting on environmental performance, taking the lead from Russia that slipped to the third spot in this case when compared to last year. Russian companies lead in listing of department or individual responsible for environmental policy. Indian companies took the second spot on two parameters - environmental considerations in supply chain management (taking the place from China which slipped to third) and shared the position with Russia in compliance with environmental laws & standards. 
BRIC countries outperformed CEE countries on all the five parameters of disclosure on Environmental Issues on their websites.
    * 55% of the BRIC companies surveyed and 48% of the companies surveyed in CEE mention compliance with environmental standards on the company website.
    * 47.5% of the BRIC companies surveyed and 40% of the 110 CEE companies surveyed report on environmental performance.
    * 18 BRIC companies surveyed (45%) and 27 of the 110 CEE companies surveyed (25%) provide information on energy and water use.
    * 32.5% of the BRIC companies surveyed identify a specific department/individual responsible for environmental issues on the company website, compared with 17% of the 110 CEE companies surveyed.
    * 15 BRIC companies surveyed (37.5%), compared to 19 CEE companies surveyed (17%) that report on the integration of environmental considerations into supply chain management policy on the company website.
When compared to last year the trend mirrors last year’s disclosure activities by BRIC maintaining their lead over CEE countries on compliance with environmental standards and performance.
Social Policy In Annual Report
Among the companies surveyed in the BRIC economies, Chinese companies reinforce their lead in the table of BRIC counties when compared to last year in disclosing information pertaining to three initiatives that include, sponsorships, listed employee development & benefits (position shared with Brazil) and compliance with labor standards (the position shared jointly with Russia and India). Brazil loses the lead to China in sponsorships, a position that the two countries jointly shared last year. Brazil moves up one position in disclosing listed employee development & benefits to share the lead with China this year.
Indian companies take the top slot in two of the five parameters of disclosures in the Annual Report on Social Policies; listed employment policy and compliance with labor standards (which they share jointly with Russia and China.) In terms of disclosing listed employment policies, Indian companies have made a remarkable improvement by moving up from fourth and last to the top slot, when compared to last year.
Brazilian companies lead the charts in two of the five parameters – listed health and safety policy and employee development & benefit (which they jointly share with China). 
When compared to CEE countries on disclosures in Annual Reports on Social Policy initiatives: 
    * 80% of the 40 BRIC companies surveyed disclose employee benefit or development policies in the annual report available online on April 15, 2008, compared to 65% of the 110 CEE companies surveyed.
    * 75% of the BRIC companies surveyed disclose community patronage and/or sponsorship programs in the annual report, compared with 49% in CEE.
    * 19 BRIC companies surveyed (47.5%) compared to 22 of the 110 CEE companies surveyed (20%) listed their employment policy in the annual report.
    * 27.5% of the BRIC companies surveyed, compared to 11% of the CEE companies surveyed disclose information regarding their compliance with labor standards in the annual report.
    * 20 BRIC companies surveyed (50%), compared to 35 CEE companies surveyed (32%) disclose information regarding health and safety policy in their annual report.
BRIC countries continue to maintain their lead over their CEE peers in disclosing social initiatives in their annual report when compared to last year on the two parameters concerning employee development & benefits and sponsorship programs.
On Websites
In terms of ‘Social Policy’ initiative disclosures on the websites, among BRIC countries, Indian companies lead the table on two parameters - compliance with labor standards (position it shares with Brazil), a position India holds on to when compared to last year; and listed health & safety policies, making an improvement when compared to last year when it ranked second while Russia lost its top slot.
Chinese companies took a clear lead on two initiatives – sponsorships; and listed employee development & benefits, moving up one place while Russia slipped to the second place sharing the position with Brazil and India when compared to last year. 
Brazilian companies led reporting on employment policies on their websites.
BRIC countries outperformed CEE countries on all the five parameters of disclosure on Social Initiatives on their websites.
    * 77.5% of the BRIC companies surveyed disclose community, patronage and/or sponsorship programs on their website compared with 52% in CEE.
    * 18 BRIC companies surveyed (45%) and 28 of the 110 CEE companies surveyed (25.5%) list their employment policy on their website.
    * 72.5% of the BRIC companies surveyed and 43% of the CEE companies surveyed disclose employee development/benefits policies on their website.
    * 45% of the BRIC companies surveyed and 22% of the CEE companies surveyed disclose information regarding their compliance with labor standards on their website.
    * 20 BRIC companies surveyed (50%) and 36 CEE companies surveyed (33%) disclose information regarding health and safety policy on their website, in comparison with two Ukrainian companies surveyed.
BRIC countries maintain their lead over their CEE peers when compared to last year in disclosing community, patronage and/or sponsorship programs.

pushpam kumar

pgdm 2nd sem

BayPoint Benefits White Paper Featured in Business & Legal Reports, Inc.

SAN FRANCISCO, CA, March 30, 2011 /24-7PressRelease/ -- A white paper written by the two Managing Directors of BayPoint Benefits, Brian Hassan and Justin Roberts, was recently featured in Business & Legal Reports, Inc. In the white paper, these employee benefits experts write about the unseen expenditures of PEOs as well as making it a point to be knowledgeable on the rewards and disadvantages of this employee agreement.

The paper discusses how someone running a business gains knowledge on how to comply with various federal and state employment regulations? It's a key dilemma for any person in business, mainly the owner of a small business who is deeply involved with growing the business. For individuals who are seeking the assistance with compliance issues, the professional employer organization (PEO) can be a welcoming ally. PEO professionals can aid the business operator to help them gain a better understanding of the laws as well as generate an employee handbook that includes policies required by law.

"As a human resources outsourcing and benefits administration specialists, BayPoint makes it there mission to discuss the chief parts in making a decision about whether or not to continue with a PEO and are the providing the education and understanding with regards to their business endeavors. Companies need to decide from a business standpoint, looking at hard dollar and soft dollar costs, what is the best fit for their organization," says BayPoint Managing Director Brian Hassan. "If you are currently in the midst of reading this, stop for a moment and think, have you ever thought of the costs involved? It is a very easy scenario to talk about savings and planning strategies to help with this, but it's even more crucial to take a look at the precise costs and how they are affecting your business. Having a better understanding of the types of services you are purchasing is the most important facet of the education process."

PEOs work closely together with company owners to create and follow HR practices that meet the terms with current laws on hiring, firing and disciplining employees. For example, a PEO can offer professional direction with respect to formulating compensation so that it pertains to the local, state and federal laws. The PEO can additionally offer assistance with the rules and practices surrounding criminal and credit background checks, the Americans with Disabilities Act (ADA), the Age Discrimination in Employment Act, COBRA, ERISA, and the other multifaceted rules pertaining to 401(k) plans, such as the safe-harbor and nondiscrimination-testing provisions. 




Rakesh prasad
pgdm 2nd sem

5 HR Metric Pitfalls to Avoid

Over the last few years, I have seen many dashboards, scorecards and metrics from a wide range of companies. The lessons learned leading up to a dashboard are so valuable. So for those of you that are just starting your metrics journey, I have a list of 5 pitfalls that if avoided can make your journey a lot more successful.

1) TOO Many Metrics

2) Ignoring your metrics

3) Measuring the WRONG things

4) Metrics that are not understandable by Joe Manager

5) No accountability

Let's briefly take a look at these...

Too many metrics: I never will forget asking a HR VP to see her metrics last summer. She in turn handed me an Excel workbook with almost 500 measures. Who can focus on 500 measures at a time? I asked who received these metrics and she told me they went to the Executive team, but they never did anything with them. Shocker! LESSON LEARNED: Make sure your metrics are reasonable in number and are tied to organizational strategy (closely related to point 3 above). I get asked all the time what is the right number of metrics? I don't know that answer as it depends on industry, strategy, organization size, etc. I know it's not 500 no matter how big you are!

Ignoring your metrics: I can remember another instance when asking about metrics and the HR VP told me she wasn't sure why they kept measuring as no one did anything with the data. Getting the right measures is just HALF the battle. Making sure ACTION is taken on the results is the other half of the battle. It is all well and good that you have a nice, new dashboard, but if no one cares or takes any action, that effort is all in vein. How can you get management engaged? LESSON LEARNED: Show them WIIFM. If they know how those metrics DIRECTLY impact their department and/or their goals and objectives, then a crazy thing happens...managers will pay attention. And if you hold them accountable...they HAVE to pay attention. (see point 5)

Measuring the wrong things: This pitfall is the most frequently occurring. I see this time and time again. An HR professional understands the need for metrics and/or the CEO has asked for them. The HR person then googles HR metrics and picks out some that "look good." Bad process. You must start at your organizational strategy and work your way down from there. If metrics are not linked to where the organization is going....then you may as well measure nothing. Sure, you have tracking measures like time to fill and cost per hire, but those are linked to HR efficiency that has a link to financial performance, which is a part of any strategy. But understanding how a company's human capital is contributing to goal attainment is critical. LESSON LEARNED: Use a strategy mapping process to ensure you are measuring what matters.

Metrics that are not understandable by Joe Manager: Many times we are so involved in our own data that we forget that it needs to be "consumed" by others. In the HR arena, that usually is line management. For managers to take action on things like turnover or engagement, they need to actually be able to understand the data. Distributing huge reports with tables and rows of data is not an effective way to communicate with managers. LESSON LEARNED: Use the KISS and Killer Slide concepts. Keep data simple by using color and pictures. Keep the "big aha" to 1-2 slides, showing impact rather than just data.

No accountability: This one makes me crazy. If you don't hold people accountable for actions, then guess what... nothing happens. It is just like when I was a little girl and was told don't leave your yard. That was all I was told. So, what did I do...bolt every time. Had I been told, if you leave the yard, "you will get the biggest spanking ever," that might have had a bearing on my decision. Seriously, if we tell managers to reduce turnover and increase engagement but don't back that up with rewards and recognition, do you think they will work hard at doing those things? LESSON LEARNED: Make sure metrics are linked to your performance management and rewards and recognition programs.

What other pitfalls have you encountered in your experience? There are others....I just wanted to start the conversation...do tell!!!

PRABHAKAR MANI

PGDM 2 SEM

5 HR Metric Pitfalls to Avoid

Over the last few years, I have seen many dashboards, scorecards and metrics from a wide range of companies. The lessons learned leading up to a dashboard are so valuable. So for those of you that are just starting your metrics journey, I have a list of 5 pitfalls that if avoided can make your journey a lot more successful.

1) TOO Many Metrics

2) Ignoring your metrics

3) Measuring the WRONG things

4) Metrics that are not understandable by Joe Manager

5) No accountability

Let's briefly take a look at these...

Too many metrics: I never will forget asking a HR VP to see her metrics last summer. She in turn handed me an Excel workbook with almost 500 measures. Who can focus on 500 measures at a time? I asked who received these metrics and she told me they went to the Executive team, but they never did anything with them. Shocker! LESSON LEARNED: Make sure your metrics are reasonable in number and are tied to organizational strategy (closely related to point 3 above). I get asked all the time what is the right number of metrics? I don't know that answer as it depends on industry, strategy, organization size, etc. I know it's not 500 no matter how big you are!

Ignoring your metrics: I can remember another instance when asking about metrics and the HR VP told me she wasn't sure why they kept measuring as no one did anything with the data. Getting the right measures is just HALF the battle. Making sure ACTION is taken on the results is the other half of the battle. It is all well and good that you have a nice, new dashboard, but if no one cares or takes any action, that effort is all in vein. How can you get management engaged? LESSON LEARNED: Show them WIIFM. If they know how those metrics DIRECTLY impact their department and/or their goals and objectives, then a crazy thing happens...managers will pay attention. And if you hold them accountable...they HAVE to pay attention. (see point 5)

Measuring the wrong things: This pitfall is the most frequently occurring. I see this time and time again. An HR professional understands the need for metrics and/or the CEO has asked for them. The HR person then googles HR metrics and picks out some that "look good." Bad process. You must start at your organizational strategy and work your way down from there. If metrics are not linked to where the organization is going....then you may as well measure nothing. Sure, you have tracking measures like time to fill and cost per hire, but those are linked to HR efficiency that has a link to financial performance, which is a part of any strategy. But understanding how a company's human capital is contributing to goal attainment is critical. LESSON LEARNED: Use a strategy mapping process to ensure you are measuring what matters.

Metrics that are not understandable by Joe Manager: Many times we are so involved in our own data that we forget that it needs to be "consumed" by others. In the HR arena, that usually is line management. For managers to take action on things like turnover or engagement, they need to actually be able to understand the data. Distributing huge reports with tables and rows of data is not an effective way to communicate with managers. LESSON LEARNED: Use the KISS and Killer Slide concepts. Keep data simple by using color and pictures. Keep the "big aha" to 1-2 slides, showing impact rather than just data.

No accountability: This one makes me crazy. If you don't hold people accountable for actions, then guess what... nothing happens. It is just like when I was a little girl and was told don't leave your yard. That was all I was told. So, what did I do...bolt every time. Had I been told, if you leave the yard, "you will get the biggest spanking ever," that might have had a bearing on my decision. Seriously, if we tell managers to reduce turnover and increase engagement but don't back that up with rewards and recognition, do you think they will work hard at doing those things? LESSON LEARNED: Make sure metrics are linked to your performance management and rewards and recognition programs.

What other pitfalls have you encountered in your experience? There are others....I just wanted to start the conversation...do tell!!!

PRABHAKAR MANI

PGDM 2 SEM

Salary Compression – A HR Nightmare?

If there's one thing that's tipping the scales for fresh employees and leaving the veterans out in the cold, it's salary compression. There's no room for loyalty to the company when market conditions have to be taken into consideration and new hires have to be paid according to industry standards. With the internal annual rate of increase between 4 and 7 percent and the industry annual rate of increase touching 10 to 15 percent, there's a huge disparity between what more experienced workers earn and what their fresh-faced counterparts just setting foot in the company make.

The situation is compounded year after year, as those with the company for a longer period of time continue to earn comparatively less than those who've come after them. HR professionals and managers have been put in a bind by salary compression – they're forced to pay the going rate for the best of the new talent to hit the market even as they risk the ire and resentment of individuals who have slogged for the company for more than a few years, but who are earning a significantly smaller amount than those coming in, even with the annual hike in their salaries.

Older employees are forced to change jobs then, since they are likely to be paid the higher market rates by new employers, which means that more new employees have to be hired at current market rates, and more money has to be spent on recruitment and training costs and on higher salaries. This leads us to the questions - Isn't it more rational to increase the salaries of older employees on par or at slightly higher rates than those of their newer colleagues? Is it worth the low morale, frustration and reduced productivity that older employees exhibit when faced with the news that their juniors, people they have to take under their wings and train, are taking home more money than they are? Does this make for a workplace conducive to harmony and cooperation?

Employers are struggling to address these issues without emptying the company's coffers on salary alone. In an attempt to retain valued and experienced employees, they are offering perks like the use of company transport, phone bills at the company's expense, access to health clubs and paid vacations. Some companies are restructuring their pay levels in a new attempt termed broad banding where employers assume more flexibility in defining job descriptions and adjusting pay scales accordingly. Others offer bonuses and incentives on a performance-based model.

A job market with a limited amount of skilled labor and a large number of jobs that require highly skilled professionals gives employees the upper hand – they are able to dictate terms and threaten to quit if they're not paid what they think they're worth. But then, too much of job hopping is seen as a sign of instability in industry circles, unless the employee has something really special to offer in terms of skill and ability. At the end of the day, it's up to organizations to affect the trade off between retaining experienced employees at a higher pay or spending more to bring in new ones and train them well.

Rakesh prasad

pgdm 2nd sem

Leaders Inspire – Perspective on leadership style of M S Dhoni & Nitish Kumar

It takes moment in life to make it special, dream of a generation, imagination of a nation, heartbeat of billions, and then the prayers finally were answered. India lifted the world cup 2011 with great pride and emotions. What Dhoni and his men have achieved will remain etched in the memory of our generation forever. Tears of joy, cries of triumph, and a sense of gratitude filled our hearts as the realization of world cup victory finally sinks to the nation.

Celebrations still continue and what really stood out was the cool and razor sharp finesse which Dhoni displayed in his leadership style throughout the tournament. Perhaps he summed it up himself when he said how his decisions could have been questioned. But as lady luck had it, Dhoni will smile all the way to the glorious annals of cricketing history, perhaps the most successful India captain ever.

One can’t help but draw parallels of his leadership style with another great leader Nitish Kumar who was the Man of Year 2010 for bringing a ray of hope and faith in the murky theater of Indian politics. Nitish Kumar, Chief Minister of Bihar, won his world cup (Bihar elections) consecutively by transforming the electoral dynamics in Bihar. Both Nitish and Dhoni have uncanny similarities in the way they operate and bring out few unique dimensions of their leadership style in their own sphere of influence. They have displayed remarkably identical traits and style which really demonstrates similarity in their leadership style and ability to influence outcomes.

Communication is the key 

Dhoni has always spoken his mind out on every aspect of Indian cricket. Often criticized for being too blunt, he has never been a favorite of his bosses in BCCI. Nitish Kumar also stands out for being upfront and plain talks, he has often earned wrath of media, alliance partners and even his own team members for speaking his mind out. Another interesting aspect that stands out of Dhoni and Nitish is the way they have been humble and open enough to admit weaknesses. Dhoni didn’t mince any words in castigating his fielders publicly and even accepted that few decisions didn’t work to the plan. 

Likewise, Nitish has publicly rebuked his own party men and allies on many programs and policies. At the same time, one must acknowledge that they have set right goals, worked with their teams to strive together as a team. As the captain of the team, both have been articulating there plans and vision for the teams.

Get the best out of limited means

One of the most inspiring aspects of both these leaders has been how they have struck to the basics of managing their teams. With limited resources at hand, they have ensured that they get the best out of each situation to work to their team’s advantage and thereby imbibing the culture of self-belief and resilience. Despite India’s limited bowling attack, Dhoni marshaled team well and always had an ace in his weak link whenever opposition came to bat. Though Indian bowling attack never looked lethal, but it was very effective and result oriented when it came to the crunch. Dean Jones went to the extent of saying that Dhoni must be dreaming to win this world cup with current Indian bowling attack. With this victory, he has really proved that dreams do come true if only we work as a team.

Similarly Nitish has always worked under constraints, he never had the luxury to spend on public welfare programs, with limited resources and little financial aid he has been able to transfer a state by just ensuring that limited resources are put to optimum utilization. He has proved that good governance can lead to electoral success and one need not always fall back on petty politics of caste and chicanery to achieve political victory. Despite low per capita income & investment, lowest Credit deposit ratio in the country, Bihar has had the 2nd highest growth rate in the country for the last 5 years. Bihar chief minister got applauds from none other than Melinda Gates for his achievements in increasing the immunization rate in Bihar . “In 2005, when Nitish Kumar became the chief minister of Bihar, the burden of disease in the state was massive. It also had a low immunization rate, 33 per cent compared to the global average of 70 per cent. By 2010, however, Bihar’s rate had risen to 66 per cent,” said Melinda. 

Lead from the front

Boy.. who can question Dhoni on his ability to lead from the front ( though he remains behind the wicket). When it came to the rubber hitting the road, Dhoni stood up for the challenge like a true champion. Not only did he score well and took the battle back to the opposition, he ensured he is there till the end to give the final punch, and what a thump it was. 

Nitish, just like Dhoni has always taken things head on and confronted his party members, policy makers on every public policy decision. He was the first one to come out and declare his assets when he enforced public declaration of assets and wealth owned by all public servants. They have both inspired there teams by their actions and has also given them hope in times of despair. 

What’s even more surprising is that both Dhoni and Nitish has been called the Obama of cricket andpolitics respectively. Despite many parallels, both are believed to be inspiring leaders in their own rights.

Delegation, Decentralization &  Team work

Gary Kirsten went on record to state how Dhoni gave him complete freedom to work in his areas. He said “Dhoni was the man in charge once they crossed the rope” while he continued doing his job off the field. Great leaders are not the most talented; they realize they realize that as long as they get the best from everyone there job is done. Dhoni as a batsmen and wicket is not the greatest of all, but he helped the team achieve its peak with help of Kirsten and Sachin and other senior players. He has allowed every one the space to breathe and creating a sense of joint ownership with harmony.

Unlike both Nitish and Dhoni predecessors, there was no noise in public space to display sense of being in control or vulgar display of authority on trivial issues. Nitish Kumar has delegated few key responsibilities to his key advisor N K Singh ( Rajya Sabha MP & Economist) & Deputy Chief Minister Sushil Modi. Just like Kirsten, N K Singh is believed to be the master strategist and close advisor of Nitish Kumar. Kumar also re-energized the local governments in the form of panchayats or assemblies, by giving them more responsibility for areas such as education.

Dare to dream and take risk 

Both Dhoni and Nitish have been non-conformist in their decision making style. They have dared to risk their own stake by taking decisions that may have backfired. Dhoni’s decision to drop Ashwin and take Nehra may have backfired but it proved otherwise in the match against Pakistan. Similarly, the decision to promote himself in the batting order during the final match would have come for severe criticism if he had failed to perform with the bat. His ability to back his team and stand for his decisions has really earned respect from his team and peers. 

Nitish has also charmed his followers and critics with his ability to implement out of box ideas which have had significant impact on social development in Bihar. Who would have imagined few years back that girls in Bihar would ride all the way to school and women’s will get 50% reservations in panchayat. Today, Bihar’s leads in various many initiatives, which other states are emulating. Programmes like Sarva Shikhsa Abhiyan, Mid-Day Meal scheme, NREGS and innovative schemes to suit marginal sections, setting up of District Child Protection Units (DCPUs) are few firsts which Bihar has stood out under leadership of Nitish Kumar. His party has often warned him of losing his vote base but Nitish has always implemented his ideas of development.

Humble beginning and private family life

Both Dhoni & Nitish have humble background and they continue to keep their family life very personal. Dhoni’s father worked in MECON and his brother and sister have also stayed away from public eyes. His close friends still count on him for any support. Nitish has also kept his personal intensely private; his family has always been away from media eyes, not much is known about his brothers and only son.

With all the glory and achievements, both of them there feet firmly stuck on the ground. They are indeed role models for today’s youth and inspire everyone to dream the impossible.

Rakesh kumar

pgdm 2nd sem

DOL amicus brief challenges heightened standard for rebutting presumption of prudence in stock drop suit

In an amicus brief challenging the dismissal of a fiduciary breach claim against an independent fiduciary for failing to discontinue an investment in company stock, the DOL has forcefully rejected the position articulated by the Ninth Circuit that the presumption of prudence attendant to an investment by an ESOP fiduciary in company stock should apply absent the "impending collapse" of the company. In the brief, the DOL also stressed that ERISA §404(c) does not shield a fiduciary from liability stemming from the imprudent selection and monitoring of plan investment options.
Relying on language in the Preamble to ERISA Reg. §2550.404c-1(b)(2), the DOL emphasized that the act of designating investment alternatives in a 404(c) plan is a fiduciary function. In addition, because the selection or monitoring of investment options available under the plan is not the direct and necessary result of participant direction of the plan, the ERISA §404(c) protection does not apply. Thus, fiduciaries, the DOL stressed, remain liable, even under 404(c) compliant plans, for imprudent actions with respect to the selection and monitoring of plan investment options. In the amicus brief, the DOL maintained that its interpretation of ERISA through the exercise of its regulatory authority is entitled to deference. Accordingly, the DOL argued, its interpretation of ERISA §404(c) as not shielding fiduciaries from liability for losses attributable to their own imprudent selection and monitoring of investment options should be deferred to and accepted as authority by the courts.

BY RAKESH PRASAD
PGDM 2nd SEM

A Look At How We've Helped Our Customers

Even the most skilled marketers need help finding the resources necessary for effective marketing and PR planning. Find out how these HR suppliers use HRmarketer to save time and money while increasing the effectiveness of their marketing and PR activities.

from- pankaj kumar choubey
PGDM 1 st

EBSA adopts technical changes to Form 5500 Schedules MB and SB for funding relief

The Employee Benefits Security Administration (EBSA) has adopted technical revisions made by the IRS to Schedule MB and Schedule SB of Form 5500 that reflect funding relief alternatives made available to defined benefit plans under the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 (P.L. 111-192).
The IRS provided guidance concerning retroactive pension funding relief for multiemployer defined benefit plans in IRS Notice 2010-83 and for single-employer defined benefit plans (including multiple employer defined benefit plans) in IRS Notice 2011-3.
EBSA states that the adoption of the technical changes in the Notices that affect Schedule MB or SB for the 2008, 2009, and 2010 Form 5500 will be effective April 5, 2011. The information required by the Notices could be supplied by amending the 2008 and 2009 Form 5500 or by creating attachments to the 2009 or 2010 Form 5500. For 2011 and later plan years, the information required from plans to which the alternative funding relief is applicable will be included in the schedules and instructions, rather than having filers create attachments as described in the Notices. Compliance with the schedules, as modified, will satisfy the relevant Form 5500 actuarial information reporting requirements for the Department of Labor, according to EBSA.
EBSA also notes that the 2011 and later Form 5500 Schedule SB will require a plan to disclose its status as an eligible charity plan in connection with a special effective date provided in the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act. A plan is an eligible charity plan for the year if the plan is maintained by more than one employer (determined without regard to Code Sec. 414(c)) and 100% of the employers are described in Code Sec. 501(c)(3) (i.e., tax-exempt organizations).



BY PUSHPAM CHAURASIA
PGDM 2nd SEM

National Prescription Drug Take Back Day,

 

The government and law enforcement agencies will be collecting potentially dangerous expired, unused, and unwanted prescription drugs as part of the Drug Enforcement Administration (DEA)’s second National Prescription Drug Take Back campaign. The first campaign, conducted in September 2010, collected more than 121 tons of pills.

Retirement Policies: Protecting Your Organization and Preparing Employees

 

A policy on retirement can take many forms. Some companies confine themselves to specifying the minimum retirement age and briefly outlining the way in which the company will observe an employee’s retirement—for example, by holding a special dinner for the retiree and his or her spouse and fellow workers. Others have well-organized preretirement counseling programs. And still others have retirement policies that are primarily pension plan summaries.

 

 

 

from-pankaj kumar choubey

PGDM 1st

rakesh prasad
pgdm 2 sem

A proposed rule to strengthen affirmative action requirements of federal contractors and subcontractors for veterans protected under the Vietnam Era Veterans’ Readjustment Assistance Act of 1974 was announced on April 22 by the OFCCP.

preetri bohra
pgdm 2 sem

A policy on retirement can take many forms. Some companies confine themselves to specifying the minimum retirement age and briefly outlining the way in which the company will observe an employee’s retirement—for example, by holding a special dinner for the retiree and his or her spouse and fellow workers. Others have well-organized preretirement counseling programs. And still others have retirement policies that are primarily pension plan summaries.

800 Air India pilots on strike, pilot's union derecognised

NEW DELHI: With around 20 flights being cancelled due to the pilots' strike, Air India management on Wednesday moved swiftly to derecognise their union ICPA and declaring their strike illegal.

Around eight flights from Delhi and 11 from Mumbai were cancelled on Wednesday morning while several others were delayed by more than three hours after a section of Air India pilots, belonging to Indian Commercial Pilot's Association (ICPA), went on strike from midnight.

"We have derecognised the ICPA, the strike is illegal and they have committed contempt of court. We are likely to move the court soon," a senior officer said.

The ICPA offices in Delhi and Mumbai have been sealed early Wednesday morning.

To tide over the crisis, the AI management has decided to rope in 150 management pilots -- executive pilots -- to operate the flights.

The ICPA gave the letter intimating about strike to the CMD on Tuesday night after their conciliation with the management before the Chief Labour Commissioner failed.

The 800-odd pilots belong to the erstwhile Indian Airlines and owe allegiance to the ICPA.

The merged entity -- Indian Airlines and Air India -- has about 1,200 pilots.

The ICPA claims that while the Air India pilots enjoy a big fixed salary component, the same is almost minuscule for the former IA pilots.

The Association claims that while their entire pay package depends on the hours they fly every day, the airlines has been curtailing the number of flights by 30 to 40%.

"The management has appealed to the pilots to restrain themselves and not go in for the irresponsible act, especially when the process of conciliation is on," an Air India spokesperson said.

He said the government, the civil aviation ministry and all stakeholders are seriously involved in resolving the issue.

The Justice Dharmadhikari committee, formed to look into HR related issues of Air India, has started functioning from this Monday and it is expected to submit its recommendations in three months, he said.

An Air India spokesperson in Mumbai said the Mumbai-Singapore flight was among the international flights cancelled from the city. Flights to Afghanistan, Nepal and Middle East are likely to be affected due to the strike.

The domestic sectors impacted due to the strike from Mumbai are Delhi, Goa, Cochin, Thiruvananthapuram and Indore.

The airline has suspended current bookings and closed counters at the Chhatrapati Shivaji airport here in wake of the strike.

The airline has put in place a contingency plan that includes steps like flying wide-body aircraft such as Boeing 777 and Boeing 747 on key metro routes like Delhi and Mumbai.

These high-capacity aircraft would be able to carry more passengers if the flight on a single aisle aircraft like Boeing 737 or Airbus 320 is cancelled due to absence of pilots
PRABHAKAR MANI 
PGDM 2 SEM

For IT hiring, 2011 to be landmark yr after 2007

BANGALORE: The calendar 2011 is expected to be a landmark year for tech hiring and job movements after 2007 as market visibility improves, global customers step up spending and pipelines remain packed. External head hunters are optimistic of a very bullish trend with hiring requirements going up substantially this year by 60% to 70%, compared to last year's 20% jump over the previous year.

The industry will see around 2 lakh fresh engineering graduates entering the job market this year while another 3 lakh people will move and change jobs within the industry. Also, there will be another over a lakh graduates (BSc computer science, electronics, and bachelor of computer applications) coming to the market from colleges across the country.

Also, some 50,000 mid-to-senior people are expected to join the IT industry from traditional verticals like manufacturing, auto, oil, telecom and logistics as the sector is suffering from an acute shortage of senior talent, say industry observers.

The IT/ITES industry employs around 15 lakh people and at least 25% of it that population will be part of a job churn/change this year. "Many people stayed put in organizations for the last three years due to sheer want of options outside. All in this category are exploring opportunities outside and moving," said B S Murthy, CEO, LeadershipCapital, an IT hiring firm.

So calendar 2011 will witness a net hiring of around 4 lakh people (campus and lateral), against 2 lakh in 2010. Calendar 2009 was the worst year, with less than 1 lakh people getting jobs, with companies going back on their campus commitments and widespread lay-offs. Year 2008 saw a hiring of 2.5 lakh while calendar 2007 was a bumper year that threw up 5 lakh jobs in the market.

"The mood today is very optimistic. Therefore, clearly there is an upsurge in hiring. The intake of IT and retail sector is surely going to more than double this year," says K Jayshankar, MD,Empowered Learning Systems. Fresh hiring will be led by domestic players like Tata Consultancy Services, Infosys Technologies and Wipro. Freshers will account for 70% to 80% of their hiring this year while MNCs like IBM, Accenture, HP and Capmini will drive the lateral hiring sector each with an annual mandate of 15,000 to 20,000 people.

According to Nirupama V G, MD, AdAstra Consultants: "The quantum of people requirement from companies has rapidly increased in the last a quarter or so. To meet this requirement, some external hirers were forced to increase the number of their support staff, after maintaining a thin staffline for last three years." 
PRABHAKAR MANI
PGDM 2 SEM

Cisco accused of plotting engineer's arrest

NEW DELHI: Networking giant Cisco has been accused of orchestrating the arrest of a UK-basedengineer. Cisco Systems allegedly led to the arrest of Multiven founder Peter Alfred-Adekeye in 2010 to force a settlement of Multiven's antitrust lawsuit against Cisco, a Multiven executive reportedly said.

According to a report in ComputerWorld, Multiven, an independent provider of service and support for networking gear, sued Cisco in 2008, alleging that the company monopolized the market for its software. Cisco countersued, charging Alfred-Adekeye of hacking into Cisco's computers and stealing copyrighted software.

The media report says that in May 2010, Adekeye was arrested in Vancouver, Canada, on 97 counts of intentionally accessing a protected computer system without authorization for the purposes of commercial advantage, according to his arrest warrant.

The ComputerWorld report quotes Canada-based Vancouever Sun, according to which "US authorities made serious mistakes having a British computer executive bizarrely arrested in Vancouver as he testified before a sitting of the American court he was supposedly avoiding."

The report says that for the last 10 months, Adekeye has been forced to remain in Canada since his release from custody under strict bail conditions.

His lawyer, Marilyn Sandford, called the explanation contained in a letter presented to BC Supreme Court "completely pathetic", and characterized the prosecutor's reasoning as "tortured" and "laughable," reports Vancouver Sun.

Sandford reportedly alleged that the US attorney colluded with computer giant Cisco Systems to commit an appalling abuse of process. "This was not full, fair and frank disclosure," she said. The prosecutor failed to tell Canada that Adekeye was a former Cisco executive involved in a massive anti-trust suit filed in Dec. 2008 against the company.

Adekeye's lawyer has asked Justice Ronald McKinnon to halt the extradition.

Adekeye left Cisco in 2005 to start his own companies. Three years later, he alleged that his former employer Cisco harmed his new ventures and consumers by forcing customers to buy a maintenance contract to cover future software fixes for its operating system and applications.

PRABHAKAR MANI

PGDM 2 SEM

preeti bohra
pgdm 2 sem

One-Third of Employers Report Use of Cash Compensation

The HR Daily Advisor® announced today the results of a survey on Cash Compensation conducted in March 2011. The survey asked employers to report on the use of cash incentives at their companies, either in the form of individual or team awards, spot bonuses, or similar payments

BU makes Pai a public job offer

BANGALORE: Barely a week after T V Mohandas Pai announced his resignation from Infosys and talked about working in education, he got his first public job offer. Bangalore University vice-chancellor N Prabhu Dev on Thursday wrote to Pai, a BU alumnus, inviting him to co-chair theBengaluru School of Economics, being planned on the lines of Delhi School of Economics.

"Yes, it must have been a painful decision for you to come out of Infosys after a highly distinguished service. Mr Narayana Murthy has described you as a key anchor builder of Infosys. Now you have a bigger horizon, a bigger canvas to articulate your nation-building programme. I've read you have decided to spend 30-35% of your time in the corporate world and 30-35% of your time in education," starts the letter. BSE will be a research centre dedicated to economics in policy advice, publications and dissemination activities. He said they will "place themselves under appropriate scrutiny", the letter said.

Pointing out that the quality of higher education is a major problem in the country, the V-C states that the field needs a visionary. "The issue of quality is not being addressed. The syllabi are not industry-friendly. The issue of reforms need(s) a visionary," the letter says. The centre will have a management committee comprising the V-C in the chair, director, registrars, heads of all divisions, experts (on invitation), government nominees and chancellor nominees. "I request you to kindly accept our invitation," Prabhu Dev signs off. 
PRABHAKAR MANI
PGDM 2 SEM

Govt accepts recommendations on 86 HR violation cases

Jammu: In a significant development, the state government has accepted recommendations on 86 cases of human rights violations, out of 216 submitted to it by the State Human Right Commission (SHRC).

At least 48 cases have been sent to investigation agencies for re-verification for action taken under law, a State Home Ministry report said.

The authorities have accepted recommendations of SHRC in 86 cases submitted and discussed by the Empowered Committee (EC) since December 2008, the report said.

The report further said that 216 cases were submitted and discussed in meetings of EC, out of which recommendations on 86 cases submitted by SHRC were accepted and other recommendations rejected.

The report added that 12 meetings were held since December 2008 by Empowered Committee, which was setup by the state government under government order on December 31, 2008.

The government also accepted ex-gratia relief and for favour of government job to next of kins of the deceased persons by the EC, it said, adding that 67 such cases were approved for ex-gratia relief and 43 for government jobs.

The report said that government is committed to protecting Human Rights and in this regard has put a legal framework in place to ensure protection of human rights.

Rakesh prasad

pgdm 2nd sem

Global Innovators in Human Resources to Gather for the Future of HR Summit

San Francisco, CA, USA (PRWEB) April 20, 2011

Leaders and experts in human resources from five continents will explore important issues across the global HR landscape at the upcoming Future of HR Summit, an ambitious two-day immersion in important global shifts and innovations in the field.
The Future of HR Summit runs 22 & 23 June 2011 at the Crowne Plaza Hotel Le Palace in Brussels, Belgium.
"The HR field is undergoing a tectonic shift on a global scale in this age of high uncertainty and volatility," said Mike Dulworth, CEO of executive peer networking company, Executive Networks. "The Future of HR Summit is designed to explore and debate emerging models and innovations that are redefining the HR function and strategy in large organizations," added Dulworth.
Executive Networks is an organizer of the Future of HR Summit, in collaboration with John Herbert of the European HR Forum and Walt Cleaver, former president of the Human Resource Planning Society and current principal of Cleaver Consulting Group.
The Summit is expected to attract some 100 thought leaders and company practitioners from five continents - including Africa, Asia, Europe, North America, and South America.
Attendees are best described by Summit organizers as practitioner thought-leaders - HR executives who are innovating the future while also executing day-to-day responsibilities at their global companies.
"This isn't a sit-and-listen conference," said Mike Dulworth. "We've designed the Summit as a unique forum for exploring new thinking - with rich opportunities for prolonged discussion and problem solving among Summit presenters and attendees" he added.
The Future of HR Summit will feature thought-leader presentations on issues & trends in most of the world's key regions - including Europe, Asia, North and South America, and Africa.
Confirmed presenters include: Paul Evans, The Shell Chaired Professor of Human Resources and Organisational Development, INSEAD; Luca Solari, Professor of Organization Theory and HRM, University of Milan; Arunav Banerjee, HR Chair, Soil India; Ed Lawler, Professor of Management, University of Southern California; Satish Pradham Chief, Group HR, Tata Group; Peter Attfield, VP HR, Unilever; and Victor Agnellini, Leader of University and Transformation, Alcatel-Lucent.


ABOUT EXECUTIVE NETWORKS
Executive Networks is the leading innovator of peer networks for human resources executives, providing them with exclusive, on-demand access to hundreds of their peers. Our members are leaders at more than 225 large companies who require fast connections with genuine peers; knowledge sharing about proven solutions and best practices; and personal development among peers facing the same issues and challenges. Most of Fortune magazine's Global Most Admired Companies are members of Executive Networks-in an environment that is free of vendors, consultants, and sales pitches.



Rakesh prasad
pgdm 2nd sem

Telecom removes HR from management

Telecom will undertake the next two years' restructuring under its "Vision 2013" with no human resources representation at the company's senior management top table.
Telecom chief executive Paul Reynolds announced the outcome of senior management changes signalled in a restructure announced earlier this week, which will slim down the Telecom senior management team from 10 people to eight.
However, the new structure still sees two senior roles reporting directly to Reynolds without being on the top team: head of Wholesale, Nick Clarke, and the newly named head of HR at the nation's largest telecommunications company, Jan O'Neill, who is currently general manager of human resources for Telecom's retail operations.
After two years with the company, the group general manager of HR, Wayne Peat, is leaving the company.
The big winner in the changes announced today is Rod Snodgrass, previously group strategy director, who will move into the newly-created Chief Product Officer role, which will oversee product and pricing activity across the company as it prepares either for the new environment that the government's ultra-fast broadband project will create.
Telecom is offering to structurally separate into two companies if it is chosen as a partner in the $1.35 billion subsidy scheme to roll out UFB to all urban areas by 2018, but is pursuing internal changes irrespective of the outcome as it chases cost reductions and improved commercial performance.
Two corporate services director roles will be filled by Tristan Gilbertson, group general counsel and Tina Symmans, director of corporate relations, who will both retain their current responsibilities.
Reynolds thanked Peat for the "huge impact he has made at Telecom since joining in 2009," particularly his "outstanding" response to the Christchurch earthquake.
Other members of the senior team are unchanged, with Nick Olson as chief financial officer, Mark Ratcliffe as chief executive at the infrastructure arm, Chorus, Alan Gourdie and Chris Quin heading retail and Gen-I respectively, and David Havercroft as group chief technology officer.


Rakesh prasad
pgdm 2nd sem

How to Build a Successful Employee Incentives and Rewards Program

For many companies, an incentive program tends to fall into some very narrow categories.
First, there are reward programs that recognize day-to-day accomplishments, such as finishing a project ahead of schedule or providing excellent customer service. Then, there are rewards for long-term achievements, such as years-of-service, milestone anniversaries, or perfect attendance.
The third, and most common type of incentive program, tends to exist only in the sales department where exciting rewards such as a trip to an exotic location or high-end merchandise are dangled in front of the account managers to motivate them to meet and exceed their sales goals.
That’s fine, of course. But, take a moment to monitor the places where you already have an incentives program in place. What behaviors are you trying to guide? Has there been an improvement? As the old saying goes, “what gets measured gets done and what gets rewarded gets done more.”

Using incentives to manage travel costs

Let’s take an example that I happen to be particularly familiar with.
One of the biggest expenses a company faces is corporate travel. Companies need to travel to visit clients, vendors, and business partners. Despite the technological advances of web-based applications, no amount of online meetings will ever make up for the benefits of face-to-face interactions or match the results they get.
Travel in itself is tough to manage. Employees are expected to deal with flight cancellations, delays, lost luggage, and bad weather.
Companies enact travel policies and procedures that they hope their employees will follow to mitigate these costs. They may ask that employees book their flights and hotels a certain number of days or weeks in advance. Or there might be preferred airline carriers, hotel chains or rental car companies that the business has contracted with to provide the best rate or services.
The task of getting employees to use those vendors to provide maximum savings to the company can be quite a chore, especially if the employee has also established some relationships with certain carriers. For example, an employee might be part of a certain airline’s frequent flyer program and want to book with that airline instead of one beneficial to the company.
This is where an incentive or reward program can come into play. One of the best analogies is to think about that airline frequent flyer program mentioned earlier. The more you book with that airline and follow the rules of your membership, the more rewards you reap. An incentive program that rewards employees for following the company travel policies can work much the same way.

How an incentive program might work

A typical incentive program would allow an employee to earn points each time he or she books a trip that adheres to company guidelines. Then, they can turn those points into rewards.
For example, an employee travels in coach five times, instead of business class, saving the company thousands of dollars, and they, in turn, accrue enough points to get a free vacation or a gift card to their favorite retail store.
Of course, this is just one instance where incentives can be used. You can tailor your company’s needs to whatever situation fits. Whenever the company can benefit from employees behaving a certain way, incentives can be used to guide that behavior.
Regardless of the type of incentive program, running it effectively is most important. Even the best reward program will be ignored if it is not aligned with the company core values or if senior management doesn’t support it.
There are initial investment expenses to plan and implement a successful incentive program, and it does take time and effort to track it, but there are people and tools out there that can help you. But if the program is strategically planned and carefully executed, the return on investment can far outweigh those initial costs. If you get employees following your particular policy, such as with the travel policy compliance concept, then the company can end up saving a lot of money instead of constantly hemorrhaging it via travel expenses.

Whatever you do, keep it simple

Whatever you do, don’t make it complicated. Keep it simple and easy to manage. Make sure the employees know all they need to know about the program in order to participate.
Keep them up to date on where they stand and how they stack up against the parameters of the program. Try to make a big deal out of the program so that employees are excited about the opportunity and make the rewards worthwhile. Remember that cash is not always the best motivator.
Keep the rewards varied and interesting. You can even make it competitive, providing scorecards and regular updates to employees so they know where they stand and how close they are to that sought-after reward.
Employees who feel rewarded respond the best to company policy and they tend to stick around longer. Studies show that employees are starting to look around for new jobs now that the economy is looking up.
Using a simple incentives program in a variety of ways and in unexpected areas can keep employees excited, interested and engaged. Ultimately, it benefits your company to find more ways to reward your employees.


Rakesh prasad
pgdm 2nd sem

SRA awarded $100M contract from DOD

Fairfax-based SRA International Inc., a leading provider of technology and strategic consulting services and solutions to government organizations and commercial clients, has won a blanket purchase agreement awarded by the Office of the Assistant Secretary of Defense, Research and Engineering, with an estimated value of $100 million over five years, Defence.Professionals reported.


Rakesh prasad
pgdm - 2nd sem

Sony Ericsson struggling for components

STOCKHOLM: Cellphone maker Sony Ericsson is suffering component shortages following the Japanese earthquake and has roped in its bigger parents to give it more muscle in the fight for supplies with bigger rivals.

Chief Executive Bert Nordberg said there were shortages of displays, batteries, camera modules and some printed circuit boards due to the March 11 quake, adding the problem was stabilising but would definitely have a bigger impact in the second quarter.

"We are now fighting for parts with bigger players," Nordberg told Reuters in an interview, adding the company was cooperating closely with its parent groups Sony Corp and Ericsson to garner more influence in talks with parts makers.

First-quarter results from Sony Ericsson, which only returned to profit a year ago after seven straight quarters of losses, showed the company staying in the black on the back of booming smartphone demand and cost cuts. Yet Nordberg's comments add to signals from other global companies on the continuing impact of the earthquake.

Earlier on Tuesday Toshiba Corp said its operating profit missed forecasts due to the disaster, while chip maker Texas Instruments Inc warned overnight of slower-than-usual quarterly sales growth as it scrambles to restart production.

Japanese component factors will also be in focus in reports from Apple Inc on Wednesday and Nokia Oyj a day later.

Delayed rollout
Sony Ericsson had said in early April the March 11 quake was limiting volumes in its new smartphone offerings and delayed the wider launch of its neo model to the third quarter.

"The second quarter and possibly third will be difficult because of Japan," said Gartner analyst Carolina Milanesi.

Sony Ericsson has slashed costs -- including cutting around 4,000 jobs -- and refocused on higher-margin smartphones that link to social networking sites like Facebook. The share of smartphones in its sales rose to 60 per cent from 40 per cent in the previous quarter.

But analysts say it still takes too long for the group to bring new products to market and it has been left trailing by the likes of Apple's iPhone and smartphones from companies such as Samsung Electronics Co and HTC Corp.

IDC analyst Francisco Jeronimo said the group -- which dropped behind HTC to ninth-largest phone maker by volume -- risks remaining a niche player if it does not expand its offering beyond the top end of the market.

"They are not Apple. I do not see a bright future for them if they do not do more," Jeronimo said.

Sony Ericsson posted a quarterly pretax profit of 15 million euros ($21.3 million), beating an average analyst forecast for a loss of 24 million, but within a wide range of estimates.

Revenue missed forecasts as Sony Ericsson sold just 8.1 million phones in the quarter, below all expectations, and giving it market share of just over 2 per cent, the lowest level since the venture was formed 10 years ago.

Shares in Ericsson were 0.1 per cent higher at 76.55 crowns by 1317 GMT, in line with a slightly firmer European technology sector.

"These results point to a significant and ongoing impact on Sony Ericsson's supply chain and operations caused by the Japan earthquake, with shipments falling a considerable way short of expectations," said CCS Insight analyst Geoff Blaber.

"This is a challenging situation for Sony Ericsson, but with lowered operating expenses and continued improvement to gross margin, it is at least in a better position to weather the storm than it was 12 to 24 months ago," Blaber said. 
PRABHAKAR MANI
PGDM 2 SEM

Five Steps to a Human Resources Software Technology System

Interested in a game plan for finding a Human Resources Software Technology system that fits your needs, budget, and company growth? These five steps will help you select a Human Resources Software Technology system.

1. Determine your Human Resources technology needs.
2. Find the Human Resources software system vendors who match your needs.
3. Set up Human Resources Software Technology system demonstrations.
4. Research your short list of potential Human Resources Software Technology systems.
5. Select your Human Resources Software Technology system and obtain approval.
6.                                NIRAJ KUMR
7.                               PGDM. 2SEM.
8. 
   

Honesty is best for job-seekers

March 12 2011 - A recently published study indicates that honesty pays off for job applicants. Job-seekers in the study were warned that a pre-employment test could detect fake responses. Consequently, their answers were more honest than average - possibly improving their chances of being hired.

"The effect of warning against faking on noncognitive test outcomes: a field study of bus operator applicants" was published in the Winter 2010 issue of Applied HRM Research. The paper was co-authored by Chris Wright, associate professor of psychology at San Francisco State University, Joni Kuroyama, a former graduate student at SF State, Todd M. Manson of Indiana University Southeast and Chris J. Sablynski of University of the Pacific.

The study made use of a real recruitment exercise, including 200 applicants for bus operator jobs with a municipal transit agency. The participants had to complete a test to assess their attitudes and behaviors related to attendance, safety and customer service. Prior to the test, a half of the applicants were given written and oral warnings, telling them that if they misrepresented themselves it would be detected by the test and that information about honesty would be a factor in the hiring decision. The other candidates were not given the warnings.

Chris Wright said:

"People may be tempted to make themselves look as attractive as possible to employers, but honesty is always the best policy, since many pre-employment tests have ways to spot fakers. We found that applicants who were warned against faking achieved significantly lower test scores, suggesting that they gave more honest answers and hadn't exaggerated their responses in order to inflate their test results."

The research focused on tests designed to collect biographical data about job-seekers' education, employment experience, skills and attitudes. Such pre-employment assessment tools are increasingly used as part of the recruitment process - especially for retail and other service sector jobs.

Many such tests incorporate built-in faking scales relying on specially-designed questions to detect embellishments and fake responses. As an example, applicants could be asked to rate their agreement with unrealistic statements, such as "I have never lied." Alternatively, they might be asked the same question in different ways to check consistency. The researchers found that job-seekers who were warned against faking had a higher likelihood of being rated as "honest" by the test's lie detection feature, suggesting that simple warnings can reduce dishonest answerss

Chris Wright concluded:

"Our findings suggest that some people do embellish their answers on pre-employment tests. However, we also found that warning applicants can be a simple and cost-effective way for employers to influence people to provide honest responses, which will ultimately provide more accurate test results to inform hiring decisions."

Resume 'padding'

Almost a decade ago an intriguing survey conducted by the The New York Times Job Market research team indicated that 89% of job seekers and 49% of hiring managers in the New York metropolitan area believe that a significant number of candidates pad their resumes.

The researchers define resume padding as falsifying information on a resume to make a candidate look stronger. The hiring managers who believe that a significant number of resumes are padded consider that (on average) 52% of the resumes they receive are padded. But just 13% of job seekers surveyed admitted to ever having padded their resumes.

82% of responding job seekers say they think companies are aware of resume padding and believe that companies perform background checks on the following:

Some items on the resume All items on the resume None of the items on the resume

70% 17% 13%

The survey identified the following techniques used by hiring managers to verify job candidates' claims made on their resumes:

Checking of references 47% Evaluating candidates during the interview process Checking of past employers/schools listed on resumes Asking questions of candidates to see how specific their answers are Evaluating new employees once they are on the job Requiring samples of candidates' work Requiring candidates to complete tests during the hiring process

47% 30% 17%  6%  4%  2%  2%

What happens if someone is hired and then found to have padded his/her resume? It seems that 68% of larger firms (100 or more employees) and 50% of smaller firms (less than 100 employees) have policies to address the situation. Most often the policy is to terminate the employment (79%). Disciplining the employee (7%) and an undetermined action depending upon what was padded (5%) are distant second and third choice actions.

29% of hiring managers and 21% of job seekers consider that any resume padding is a serious matter. Both groups believe the following to be the items most frequently padded on job seekers' resumes:

Job responsibilities Length of employment Education level College attended/previous employment

Hiring Managers 53% 18% 13% 11%

Job Seekers 51% 14% 10% 14%

Prem Paritosh
PGDM - 2nd sem