Careers

If the predictions on a survey go true, India would receive at least an increase of 10 percent in base salary levels. Asian companies will benefit hugely if the region recovers from the global recession. Read the full story

While you were reading the news that Mahindra Satyam has secured contracts worth $79 million only for the second quarter in North Africa and Middle East regions, employees at Satyam were reading quite a different news in their mailboxes. Read the full story

A new web site targeted at job seekers and career changers, KillYourCube.com has developed a free Career Map tool that helps users transition from their current jobs to their dream jobs. The patent-pending, interactive Career Map technology gives users a step-by-step, visual roadmap for how best to achieve a new position. Users learn about skills, experience, and knowledge they’ll need — and are linked to resources for their career paths. Read the full story

A recent report by Simply Hired, LinkedIn’s job search portal, reveals through its Employment Trends that jobs on Facebook has increased by 635 percent. Interestingly, MySpace jobs have decreased by 27 percent. LinkedIn also had a substantial growth of 125% jobs while social networking sites did not see an increase in jobs and stayed at the previous 22%.

The data was derived from millions of jobs indexed by Simply Hired a popular job search engine. The graph below depicts the increase and decrease.

Most of the recruiters and employers have quit traditional methods of searching for a perfect candidate. No longer do they spend all their time going through job portals but they also search for interesting candidates on social media sites, blogs, forums and professional networking sites.

LinkedIn is one great way of letting recruiters know about your talents, testimonials, profession, friends, business networks and much more. LinkedIn has over 35 million members in over 200 countries and territories around the world. A new member joins LinkedIn approximately every second, and about half of LinkedIn members are outside the U.S. Executives from all Fortune 500 companies are LinkedIn members and have listed their entire profile including roles, responsibilities, previous experiences, education and their business network details. Read the full story

Dear colleagues,

I write this mail to update you on some critical Board and Leadership level changes in our company, effective immediately. A series of extremely unfortunate events led to this, which I am sure you have seen covered in the media over the past few hours.

A SWAT team consisting of senior leaders has been formed. Many of them are Satyam veterans with a minimum of ten years experience in our company and more than twenty years in the industry. I have been requested to play the role of an Interim CEO and this team will support me, as we steer Satyam through this challenging phase. These are the leaders on the ground and have always had the final call on most customer and associate related matters in the company, so far. This team has committed to work together, to make it happen. The SWAT team represents all customer facing units, key horizontal competency units and critical support units. Read the full story

Dear Board Members,

It is with deep regret, and tremendous burden that I am carrying on my conscience, that I would like to bring the following facts to your notice:

1. The Balance Sheet carries as of September 30, 2008:

a. Inflated (non-existent) cash and bank balances of Rs. 5,040 crore (as against Rs. 5361 crore reflected in the books)

b. An accrued interest of Rs. 376 crore which is non-existent

c. An understated liability of Rs. 1,230 crore on account of funds arranged by me

d. An over stated debtors position of Rs. 490 crore (as against Rs. 2651 reflected in the books)
Read the full story

A “True Lie” infact. Ironically, Satyam means truth. Chairman and promoter Ramalinga Raju confessed that the Hyderabad based Satyam Computers has been lying to its shareholders, employees and the entire world for many years. Regarded as India’s largest ever corporate fraud, it is estimated that the scam is more than 7,000 crore.

Considered to be the fourth largest [or was the fourth largest] IT company after TCS, Infosys and Wipro, Satyam has been cheating its shareholders, employees and clients by manipulating the revenue and profit sheets and thus boosting cash inflows. Satyam has also reportedly shown interest income when actually nothing existed. Read the full story

24/7 Customer on a phased ramp down

After software companies, its now BPO companies who are on a slow down. 24/7 Customer one of India’s leading BPO firms have informed that they would carry out a phased ramp down of their offshore call center partnerships in India.

24/7 has planned to reduce 450 employees in Gurgaon and would also assist the employees to find employment opportunities outside their company. More than 70% of its employees are already on a lookout for other opportunities.

But as all companies say, the company also claims that it will increase its workforce from the existing 7,500 to 10,000 employees by May and it is already hiring in India, Guatemala and Manila. These claims have become common with most of the companies to cover their real skin.

President of New services and Global Chief of Risk and Infrastructure stated that they have taken all necessary steps to help employees pursue careers in other centres.

Industry analysts feel that the current slow down in the market can no longer help companies afford having employees in bench. They do have to ramp down employees in the name of performance review and cover their real cause with news about increasing work force.

The BPO has its head office based in California with its Indian call center operations in Chennai, Bangalore, Gurgaon and Hyderabad.