Saturday, February 27, 2010

Do you know What is confidence?

A hypothetical situation where 20 CEOs board an airplane and are told that the flight that they are about to take is the first-ever to feature pilot less technology: It is an uncrewed aircraft. Each one of the CEOs is then told, privately, that their company's software is running the aircraft's automatic pilot system. Nineteen of the CEOs promptly leave the aircraft, each offering a different type of excuse.

One CEO alone remains on board the jet, seeming very calm indeed. Asked why he is so confident in this first uncrewed flight,

he replies:

"If it is the same software that is developed by my company's IT systems department, this plane won't even take off.”!!!!

That is called Confidence!!!

Friday, February 26, 2010

Intel to create 10,500 jobs

Washington: Intel has announced plans for it and other companies to double their hiring of college graduates, creating more than 10,500 jobs. It is working with a range of venture capital firms to organize $3.5 billion in investment in technology, reports Reuters.

Otellini has estimated the annual paychecks would total more than $1 billion. According to him, the chipmaker has organized a group of 24 venture capital firms to invest in technologies to create economic growth and jobs. "The members of this alliance have committed to invest $3.5 billion in promising clean technology, information technology and biotechnology companies over approximately two years," Otellini said in a speech at the Brookings Institution think tank. "As part of the alliance, Intel Capital will participate with its own $200 million commitment."

Venture capital firms involved in the initiative include Advanced Technology Ventures, Braemar Energy Ventures, Bridgescale Partners and 21 others.

The companies involved in the hiring of new college graduates include Accenture, Adobe Systems, Autodesk, Broadcom, Cisco Systems, Dell, eBay, EMC, General Electric, Google, Hewlett-Packard, Liberty Mutual Group, Marvell Technology Group's Marvell Semiconductor, Microsoft and Yahoo.

MNCs should keep servers in India: CBI, IB

New Delhi: Top investigating agencies like the CBI, IB and SFIO have urged the Ministry of Corporate Affairs to include a clause in the new companies bill to make it mandatory for MNCs to maintain a server within India, reports PTI. The gencies want to be able to have better access to their business-related information and data.

"There are genuine concerns about companies storing confidential data in servers that are stationed abroad. It makes it difficult for agencies (like Central Bureau of Investigation (CBI), Intelligence Bureau (IB), and Serious Frauds Investigation Office (SFIO) to seize the data, as companies always say they have no access as it is kept in a server abroad," an official source told PTI.

The development comes in the wake of huge financial frauds like last year's Rs. 10,000-crore accounts bungling at Satyam, which is also alleged to have siphoned off large amount of money to tax havens like Mauritius.

The Economic Intelligence Council (EIC), which also comprises agencies like the Narcotics Control Bureau, Enforcement Directorate and Sebi, has suggested to the Corporate Affairs Ministry to mandate each MNC to maintain a server in the country by bringing in a new clause in the new companies bill, sources said.

Wednesday, February 24, 2010

Layoffs among men increase women workforce

Bangalore: With downturn-related job losses affecting females less than males, women are headed toward constituting half of all U.S. employed. According to Pew Research, women's share of the workforce increased from 46.5 percent in December 2007 to 47.4 percent in December 2009.

Women accounted for only about a quarter of the 2008 decline in employment among prime-working-age individuals, while males accounted for about 75 percent of the 2008 decline in employment among prime-working-age individuals (U.S. Bureau of Labor Statistics, 2009).

The report examined how changes at the nexus of marriage, income and education have played out among U.S.-born men and women who are ages 30-44 - a stage of life when typical adults have completed their education, gone to work and gotten married. Americans in this age group are the first such cohort in U.S. history to include more women than men with college degrees.

In 1970, 28 percent of wives in this age range had husbands who were better educated than they were, outnumbering the 20 percent whose husbands had less education. By 2007, these patterns had reversed: 19 percent of wives had husbands with more education, versus 28 percent whose husbands had less education. In the remaining couples - about half in 1970 and 2007 - spouses have similar education levels.

Women's earnings grew 44 percent from 1970 to 2007, compared with six percent growth for men. That sharper growth has enabled women to narrow, but not close, the earnings gap with men. Median earnings of full-year female workers in 2007 were 71 percent of earnings of comparable men, compared with 52 percent in 1970.

Tuesday, February 23, 2010

Wipro employee commits $4 Million fraud

Bangalore: IT major Wipro has tightened internal control in the finance division after it was noticed that one of its employees embezzled crores of rupees in the last three years. The employee, who was working in the 'controllership' division within the finance department in the last three years, stole a password and transferred funds from Wipro's account at a bank, reports M.V. Ramsurya and Pankaj Mishra of Economic Times.

Suresh C Senapaty, Wipro's CFO has also confirmed the incident. "This has been a case of embezzlement, which we discovered in December, and it's very unfortunate that this person succumbed to this," he said. According to him, the company has carried out an investigation and is undertaking actions with respect to stricter adherence to processes.

Following this, Wipro has disbanded the controllership unit. Wipro officials have succeeded in recovering about half the money, but will still face a loss of about $2 million. The CFO said the incident did not involve more than one Wipro employee. "Our investigations have revealed that only this employee was involved, and nobody else in the team had any clue," Senapaty said.

Apart from setting up an internal investigation team, Wipro has also taken help from external auditors and investigation experts who will vet its processes and certify the soundness of its controls. Wipro has always taken pride in the sound work ethics of its employees and in the strictness of its controls. "We have to be more alert in monitoring, and we need to tighten the processes for ensuring an early warning system and make it tougher," Senapaty said.

Now, Wipro plans to make it compulsory for its employees to sign an undertaking about sharing of passwords and any unauthorized transactions. The company is also planning to frequently rotate its employees, who are working in sensitive functions within the finance department. Currently, employees in such functions spend around three years before a transfer.

Sunday, February 21, 2010

Female colleagues back-bite more than males

Bangalore: Female colleagues are twice more likely to be involved in back-bitting than male colleagues, says a survey. During an online survey which included 2000 people, two of five women said that they have sent nasty messages about their co-workers in the past seven days compared to one in five men, reports PTI.

Back-stabbing was most prominent in media-industry followed by accounts, IT and sales. According to the survey, a typical female employee spends around 20 minutes a day moaning about someone they work with, either by email or by messaging. Overall, the survey found, one in every five employees dislike their colleagues.

"Workers are spending longer and longer in each other's company as workloads increase. That leads to added tension," said a spokesman for OnePoll - an online market research company that carried out the survey. While women's disliked their colleagues because they were 'jealous' or 'saw them as a threat', men envied their co-worker for 'laziness' or for having 'ideas above their station'.

The researchers also found that bosses were the major cause of tension at the workplace, while senior management emerged as the least-liked group of all. "People who are in positions of authority are bound to end up as victims of back-stabbing," the spokesman said.

It is also noted that almost two-thirds of the workers gossip about their colleagues when they are not around and the back-stabbing continues even when they are away from the office. 25 percent of those surveyed admitted they moan about their colleagues even after work, the Daily Mail reported.

Monday, February 15, 2010

Top 10 mistakes that bosses make

Bangalore: Calling the boss H - Hitler, A - Arrogant, R - Rascal and I - Idiot caught everyone's attention in Naukri's TV commercial, would you do the same if given an opportunity? Even though it was just an advertisement, it did reflect the plight of employees in the IT industry. After receiving interesting comments on "10 reasons why people quit jobs in IT industry", we decided to take it a step further to analyze what exactly is going wrong. We conducted a survey to find out top ten mistakes that even good managers and bosses make.

So I am listing below the top ten mistakes which are very common amongst bosses.

1 - Micro-management
Sometimes when bosses assign work to an employee they don't completely trust that employee will be capable of completing the work. They underestimate the ability of the people they hire and end up offending the employee. "According to me, the number one mistake is, not effectively identifying the strengths of the employee, thereby micro managing or not delegating or not trusting the employee's judgment. A good boss is one who brings out the best in the employee," says Sharda Balaji, Founder of NovoJuris Services.

2 - Using improper mode of communication
Some bosses have this weird sense that since they are boss they should order people around and create a military kind of environment. They feel the stricter the things are the better things are organized. If an employee is late for some deadline, then the boss starts labeling the work or the employee himself.

3 - Leading through intimidation
This is one of the worst kind of mistake that bosses make. They feel that if an employee is threatened to work they will perform better. What the boss does not realize is that employee under such pressure end up losing interest in work and will meet the deadline just for the heck of it. Such employees then would only do what is asked from them and will never happily give hundred percent to do something good for the company.

4 - Lacking empathy for employee's situation
There are sometimes when employees do make excuses to take leave or when they come late. But not every reason is an excuse. Bosses end up thinking that their employees are always making excuses and do not showing any consideration for employee's situation

5 - Becoming inaccessible to your employees
An employee wants to contact his boss for something important but he is busy with other things and does not give any weightage to employee's problem and hence he is scared to approach his bosss.

"I have had some experiences at one of the company I worked with, where the manager was just not approachable and accessible. I could not expect any kind of guidance from him. It would not be wrong if I say that he was too busy caught with meetings (not accessible). He was also not approachable at the same time because of bad temperament and everything depended on his mood," said Prashant Hannovar, who is a Manager of HR at NextBiT Computing.

6 - Not providing guidance or motivating employees
An employee should always have something to look forward to. A good manager knows how to motivate employees to make them perform better but for this they have to spend some time with their team. In today's IT work environment many of the managers have no time to spend with the team due to day long meetings. As a result they miss out on understanding a team member's problem at work and providing the right support and solutions for the same. Failing to support and understanding a team member will lead to recipe of resignation. A manager should always have the practice of having one on one to know more about the team member, and then provide right feedback at the same time to motivate with the right attitude.

7 - Not providing a clear picture - Transparency
Many times work is assigned by bosses to employees without clearly telling them the complete picture. Boss should always maintain transparency with their employee to make them understand what exactly they are doing. "If bosses start informing their team about the correct scenarios and maintain transparency about a project, then the employees will work more willingly and meeting the deadline will no longer be a concern of the boss alone," said Juilee Joshi, who worked as a Technical Support analyst at BMC software.

8 - Insecurity about their post
Some bosses prefer to do things alone rather than taking teams help as they are unsecure that someone will provide better solution, and thus they get a sense of insecurity about their post. "There is something unique about Indian bosses. They get this superiority complex about their position and I fail to understand why. There are many extremely capable folks who like to remain in the 'individual contributors' role because they do not enjoy people management," said Balaji. "You can deal with an egoistic boss, a demanding boss, an impatient boss... but the worst kind is the one who is insecure."

9 - Trying to be friend as well as boss or showing partiality
This is the trickiest part of the boss-employee relationship. Some of the bosses try to maintain a perfect balance between professionalism and friendship but it does not always work well for the company. Employees might become lenient in submitting at deadline or boss might start expecting too much from employees since they are good friend as well.

Another part of this equation can be showing partiality or favoring certain employees over others which create negative vibes in the team.

10 - Making fake promises
In order to motivate employees many time managers make fake promises of promotion or goodies but when the time comes they just stall it. This de-motivates an employee a great deal and might backfire badly on the company.

There are many other mistakes that bosses commit but we felt that these are the top ten reasons. You may think differently and have your own reasons. We would like to hear the top mistakes that your boss makes. Do let us know.

Saturday, February 13, 2010

Women love mobiles more than men

Melbourne: Many girls are more interested in their mobile phones than their men as a survey revealed. In a survey of 4,000 women living in Australia, carried out by British pawnbroker Borro to know their most treasured possessions, four in every 10 women said they would be lost without their mobiles, but would happily go without a man in their life.

The study claims that besides mother and mobile, women treasured their friends more than their men, reports The Daily Telegraph. Majority of the women surveyed consider their mothers to be their most prized possession followed closely by their photographs and then their mobile phone.

The survey's results showed the changing focus of what is important in many women's lives, said Anne Hollands from Relationship Australia. "I think it fits within the fact that we are very focused on our own lives these days," Hollands added.

Other items which made it to the list of most treasured items in a woman's life were diamond rings, pets, laptops and hair straighteners. As part of the survey, when the women were asked whether they would dump their boyfriends for money, a large chunk said they would consider doing so if offered more than $1 million in cash.

Thursday, February 11, 2010

CEOs more sensitive and emotionally unstable than others?

Bangalore: Ask CEOs to pick their favorite color and what they select will often be very different than what most people would pick. A personality test conducted on CEOs recently has revealed that on average, they are 'more sensitive and private than the typical person, and more likely to be emotionally unstable."

For the personality test conducted by USA Today, the CEOs were asked to rank their favorite colors, and their answers were then analyzed by an expert psychiatry professor. According to USA Today, many of the CEOs described the results as 'eerily accurate.'

The test showed that CEOs were three times more likely than the average person to choose magenta as their color and significantly less likely to choose red or yellow. This led to the conclusion that CEOs 'are not as self-assured as the public at large, and they are more cooperative and less forceful than the typical person.'

While the test confirmed that the CEOs are meant for 'upper management' positions, they also proved more likely to be 'social workers, artists and teachers,' and the typical CEO is actually well-suited to be an administrative assistant.'

"CEOs see the big, bold and colorful picture and help others see the vision as well," said test-taker Edward Jennings, CEO of Copanion, which provides tax professionals with Web-based applications. "Leaders are storytellers, teachers and investors."

Psychiatry professor Rense Lange says that no one knows why so much can be learned about a person by the colors they choose. Those answers are buried deep in neuroscience, he says, but it's just a matter of time before marketers will be able to target products to consumers based on color preferences.

TCS to hire 30,000, 70 percent freshers

New Delhi: Tata Consultancy Services plans to hire 28,000 employees in India and 2,000 abroad in the financial year 2010-2011 and about 70 percent of recruitment will be freshers. The company is currently seeing an 8-10 percent growth in revenue from domestic operations and is eyeing a double-digit growth in the next two years.

TCS CEO and MD N Chandrasekaran said that the company will hike salaries of its employees in the coming fiscal, but did not give details, reports Financial Chronicle. TCS, has not hiked wages in the current fiscal, but employees have received 150 percent VA payouts in two consecutive quarters - second and third quarters of FY10.

"We are on a path to hire 1,000 people. We have already hired 300," he said, replying to a query on hiring plans for the current fiscal. In Q3 of FY10, TCS had made 7,692 net additions, compared with a net addition of 320 in the previous quarter.

Asked about the extent to which India would be affected by the U.S. move to slash tax-breaks to outsourcers, Chandrasekaran said the matter is not an immediate concern. Also Chandrasekaran said, "China is a tough market for IT firms and the company was seeing business opportunity in Europe." Chandrasekaran said the company had signed a few large deals as well as a number of smaller ones. "The financial services sector will drive growth. We expect good growth from retail, pharma and utilities," he said.

Tuesday, February 9, 2010

Are Indian execs ready for training to hone their skills?

Bangalore: With fundamental changes in the business scenario after global downturn, the requirements for successful business leadership have changed, so the approaches of senior business leaders. Witnessing the lack of proper strategies during recession, now MNCs across the world are sending their top level executives for leadership training programs to plan better strategies during bad phases such as slowdown and dotcom burst, but top level executives in India are still hesitant to go for any training.

Yeshasvini Ramaswamy, Managing Director and Founder of e2e People Practices, who has planned to launch a leadership program for executives this year, believes that that Indian executives are more ready now than ever to undertake new courses. Prior to the downturn the importance was on strengthening traditional management disciplines such as finance, accounting, marketing and strategy, while the focus today is more on the personal qualities that are just as critical to organizational success in an age of rapid change. "The pace of change is impressive. Now companies want its leaders to be risk-taker, courageous, ability to make teams work, creative thinker, tolerance for ambiguity, understanding organizational and system dynamics and flexible, but top executives seem to be failing to achieve all these qualities." Here special training plays an important role to groom the leaders. Besides, honing business skills in finance, marketing, technology, mergers and acquisitions, operations management, supply chains and other areas, executive development programs examine leaders through three lenses: individual, team and organizational dynamics. Leaders learn that how important it is to have a deep understanding of their individual strengths and weaknesses. Through the training they understand the need to design and work in teams and other groups. Finally, they get to understand the dynamics of the entire organization," Jane Hiller Farran, Senior Director of Corporate Programs in Wharton Executive Education said.

However, leaders especially in India are yet to understand the need for such training. Jyotirmoy Daw, Managing Director, Mentor Graphics' Noida R&D Center says, "I feel that Indian executives are still not thinking in that direction," he says. Infact, according to Farran, faculties cannot preach to executives. He opines that the leaders are so used to being successful that they rely heavily on their own experience. In tune to the trend,Abhijit Bhatacharjee, Founder, Luna Ergonomics said, "I doubt that entrepreneurs can ever find time to take such traning."

Apart from their inconsiderate attitude towards this kind of training, there's another challenge facing the corporates, it's the lack of such courses. These type of courses are very far and few in India. Describing the need of this type of course, Yeshaswini said, "Anything skill or competency that will help the executive be better prepared to tackle the challenges of tomorrow is needed. Companies now need to be innovative to survive. Executives, who have initiative, think outside the box and have execution capabilities will survive."

Realizing the importance of innovation and leadership program in the current scenario, Indian IT major Infosys has already started grooming young entrepreneurs to take on new role. Infosys runs a Leadership Institute that initiates new recruits into Infosys with a rigorous foundation program and provides round-the-year training for managers. The Institute offers 16 instructor-led training programs and 59 e-learning programs. So, now with more number of Indian companies making their mark on global arena, they need to follow the path of Infosys and provide the learning opportunity to young entrepreneurs to grow in their career.

Monday, February 8, 2010

Wrong Email id

A man checked into a hotel. There was a computer in his room,
so he decided to send an e-mail to his wife. However, he accidentally
typed wrong e-mail address, and without realizing his error, he
sent the e-mail.

Meanwhile.....somewhere in Houston , a widow had just returned home
from her husband's funeral. The widow decided to check her e-mail,
expecting messages from relatives and friends.
After reading the first message, she fainted.
The widow's son rushed into the room, found his mother on the floor, and saw the computer

Screen which read:

To : My Loving Wife
Subject : I've Reached
Date : 28 Jun 2007

I know you're surprised to hear from me. They have computers here now, and you are allowed to send e-mails to your loved ones.

I've just reached and have been checked in.
I see that everything has been prepared for your arrival tomorrow.
Looking forward to seeing you then!
Hope your journey is as uneventful as mine was

My One and Only Love

Vicky, who was 19 years old, was buying an expensive bracelet, to surprise his girlfriend on Valentine's Day, at a jeweller's shop in Connaught Place, Delhi.

The jeweller inquired, 'Would you like your girlfriend's name engraved on it?'

Vicky thought for a moment, grinned, then answered, 'No, instead engrave 'To my one and only love'.'

The jeweller smiled and said, 'Yes, sir; how very romantic of you.'

Vicky retorted with a glint in his eye, 'Not exactly romantic, but very practical. This way, if we break up, I can use it again.'

Sun's CEO creates history, tweets his resignation

Bangalore: Jonathan Schwartz, the last CEO of Sun Microsystems, became the first Fortune 200 boss to tweet his resignation, when he used the micro blogging site to publish a haiku about his exit from Oracle, which just completed its purchase of Sun last week, reports New York Times.

Oracle's CEO, Larry Ellison, is not especially fond of Schwartz, as in an interview last week, Ellison had said that he fully expected Schwartz to resign rather than play a role in the combined company. "Financial crisis/Stalled too many customers/CEO no more," Schwartz wrote.

At Sun, Schwartz became the first CEO of a major company to put up his own blog. Schwartz also pushed the Securities and Exchange Commission to put blogs on equal footing with press releases and filings when it comes to disclosing critical business matters to investors.

About his next move, Schwartz said in an e-mail, "In the short run, I am planning to spend some long overdue time with my family. Longer run, with a few million businesses and a few billion consumers on the Web, rumor has it there are some interesting opportunities to be had."

Sunday, February 7, 2010

Embarassing Situations

A very shy young man goes into a bar and sees a beautiful woman sitting alone.

After an hour he gathers enough courage to go and ask her, "Er... excuse me, but would you mind if I sat here beside you?"

She responds in a loud voice :


Everyone in the bar turns to stare at them. The young man is surprised, shocked and embarrassed and goes back to his table.

After a few minutes the woman walks over to him smiles, apologizes, and says, "You see, I'm a graduate student in psychology and I'm studying how people respond to embarrassing situations."

The young man responds loudly with,


Must Read for Sales Guys

Boss to Sales Executive: Get 5 lacs business by today evening anyhow.
Sales Executive:That's Impossible Sir!
Boss: What Impossible? Impossible word itself says I'm possible.

In Evening...,
Executive: Boss, I got 10 lacs business.
Boss: Great! How come this miracle happened?
Executive: I cheated the client.
Boss: That's Immoral.
Executive: What Immoral? Immoral word itself says I'm moral.

Tuesday, February 2, 2010

Mahindra Satyam recalls 2000 virtual pool staff

Bangalore: Following the strong performance in the manufacturing and infrastructure sector in the last six months by Mahindra Satyam, the company plans to hire more number of employees in the running fiscal, and also recalled 2,000 virtual pool employees, reports CNBC-TV18.

Even though the company has witnessed a dip in its headcount by 43 percent since September 2008, it plans to hire up to 200 fresh graduates and 200 lateral employees in FY11. In June 2009, the company had announced a virtual pool programme (VPP) under which about 6,000 employees were sent home.

According to the sources, the top management from the company said that it was engaged in selective hiring in specialized skill sets. However, it wil give priority to the people on virtual pool.