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Budget 2015: Government has embraced states as equal partners of growth, says FM Arun Jaitley

NEW DELHI: Stating that the NDA government has embraced states as equal partners of growth, Finance Minister Arun Jaitley in his budget speech said, "Every rupee of public expenditure, whether by centre or states will contribute to betterment of people's lives." 

Stating that Budget 2015 comes in the backdrop of a better growth environment than in the past, Jaitley on Saturday said, "World predicting that it is India's chance to fly." 

"India is going to take off on a faster growth trajectory." "While global growth forecasts have come down, India's forecasts have either been maintained or scaled up," Jaitley said in his Budget speech. 

On Friday, an upbeat Economic Survey penned by Chief Economic Advisor Arvind Subramanian said that India is headed for 8%-plus growth next year and on course for 10% expansion in the near future. 

Article

Companies recognise employees to pump feel-good factor

Information technology company HCL Technologies has taken recognition to another level. Under a programme called ‘Xtramiles’, peers, team members and managers recognise employees for their outstanding efforts.

Xtramiles are recognition points that the recogniser and the person being recognised receive when either one makes the appreciation. Accumulation of these points entitles them to earn rewards. “It is a platform aimed at propagating a ‘thank you’ culture and helps strengthen aculture of employee appreciation,” says Prithvi Shergill, chief human resources officer, HCL Technologies.

Similarly, learning outsourcing company NIIT has a recognition platform called HATS OFF, which has peer recognition as an integral part. Every NIITian can send an eWOW card using the online NIITian portal called iNIITian. The eWOW is shared with peers and first- and second-line reporting managers.

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How to make your employees feel valued

In today’s ambiguous and volatile work environment, employers need to do more than provide compensation and perks to make employees feel cherished. Offering stretch assignments to high potential talent, building a culture of transparency and clarity, and prompt rewards could build a sense of belonging, finds Anumeha Chaturvedi.

1) Challenge Them

Challenging employees within their routine tasks to deliver a higher quality output, or tackle a problem and take up more responsibilities can make a difference, according to Achal Khanna, CEO, Society for Human Resource Management. “Constant support from the manager during this challenging task will further make him or her feel valued,” says Khanna.

2) Reward Employees

HR Article

Going beyond basic Analytics: Making HR strategic

Advanced statistical modeling, data-based algorithms and analysis and its `predictive and prescriptive ability’ are hot requirements in the world of HR today.

Despite its process-driven approach HR has been largely dependent on the professional’s intuition. With increased focus on lowering the cost per employee, HR departments and consultancies are adopting a data driven analytics approach for greater accountability. Companies are increasingly relying on the strength this new data-based objectivity brings to businesses.

“The constant quest of `getting the right people for the right job at the best cost and time’ is getting more algorithm-based analytics,” says Yeshaswini Ramaswamy, e2e people solutions. “Corporates are looking to HR for a more strategic role in business operations. With this development the expectation today is to adopt a more data-based objectivity, a language that businesses understand, for the entire HR process.”

HR consultancies that have adopted this scientific method have been able to highlight the benefits of using data while making people decisions, thereby providing greater trackable objectivity. These processes are increasingly being incorporated by not just large MNCs and fast growing SMEs but even startups.

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On-the-job training boosts employee morale: Survey

Over 40% employers voted on-the-job training for increased productivity and 35% for enhanced employee morale in the organization in a survey concerning training and development, conducted by TJinsite, research and knowledge arm of TimesJobs.com. A considerable share of the surveyed employers also claimed to reduce attrition by using training and development methodology.

"Training is critical for growth and development of employees in the organisation and also to retain talent", expressed Vivek Punekar, Chief Human Resource Officer-HCL Infosystems. Referring to his company's strategy, he adds that their comprehensive training programs ranging from entry level to the highest-level executives focuses on all-round development of the people. "To strengthen our process, we analyse and identify key development areas for training - skills, technical and product learning - on regular basis. New technological upgrades and business needs are also taken into consideration in this approach."

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NOFN giving only half of promised 100 mbps broadband speed

Village panchayats connected with the National Optical Fibre Network are getting broadband speed of only 50 mbps, which is half of what the government has committed under the project, says a study. 

"The NOFN promises bandwidth of 100 mbps. However, during our study, we found that the average speed is 50 mbps," said a Digital Empowerment Foundation report released today at Convergence India 2015. 

Government has earmarked Rs 20,000 crore for NOFN project to connect all 2.5 lakh village panchayats by December 2016 with broadband speed of 100 mbps at each panchayat level. 

DEF conducted its study in three blocks -- Arian in Ajmer district (Rajasthan), Parvada in Visakhapatnam (Andhra Pradesh) and Panisagar in North Tripura district (Tripura), that were covered by Bharat Broadband Network Limited under its pilot project.

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Companies ordered to pay taxes on ad, marketing & promotion expenses incurred over & above industry average

It would appear that not everyone's got Finance Minister Arun Jaitley's oft-repeated message seeking a reversal in the aggressive policies of the tax department that prevailed under the previous government as the Narendra Modi administration looks to improve India's investment climate and make it more attractive to overseas companies. The transfer-pricing bogey that has haunted multinationals over the past few years still hasn't been entirely laid to rest.

The income-tax department has ordered several MNCs, mostly fast moving consumer goods (FMCG) companies, to pay taxes on advertising, marketing and sales promotion (AMP) expenses incurred over and above the industry average.

This hard line has been adopted in the latest transfer pricing audit as demands have intensified with January 31 being the last date by which these can be made. The tax department's argument is this: If the Indian subsidiary spends more than the average AMP expenses, then this additional amount is going towards promoting the brand and not the product, justifying the levy. The concept of pegging advertising spend as a proportion of turnover against industry average is an example of the 'bright-line test', a rule set by precedent that's inflexible.

HR Article

Creative Recruiting – It’s Time to Think Outside the Box

America is coming out of a long period of recession and virtually no hiring. For companies, that means that there are many eager candidates as their hiring picks up this year. After years of trying to find jobs in the same places, many eligible candidates no longer bother to check the same newspapers and internet websites that were popular nearly a decade ago. Many of the highly trained candidates that companies are interested in have stopped looking for better opportunities, making it difficult to find good employees.

That means that companies will need to get creative if they’re going to find qualified candidates. If your company is looking to hire in the coming year, try these ways to attract new talent.

1. Set up social networking accounts.

Instead of spending money on college fairs, you can meet plenty of new college graduates through Facebook and LinkedIn. Younger people are a lot more comfortable approaching a company through these methods, and they’re a lot cheaper than traveling to meet possible candidates. Furthermore, building up your online presence is a good way to add to your company’s public profile.

HR Article

Increase Employee Morale with Web-Based HR Systems

Implementing a web-based human resources management system (HRMS) can help just about any company to function more efficiently. While the benefits to employers are extensive, there are also many ways in which a web-based HRMS can make employees’ lives easier. Having a simple, web-based solution for different aspects of human resources can increase employee morale and sometimes even help reduce turnover. Industries across a broad spectrum are bringing their companies into the future with web-based HR systems.

Reduces Waiting for Information

While all HRMS are not exactly the same, most web-based systems will reduce the amount of time that an employee has to wait for information about some important aspects of employment. This may include pay rate, paycheck amount, tax filing status, benefit information, and information about bonuses. Some systems may also include scheduling functions, allowing employees to access schedules as soon as they are available. Employees benefit from having access to this information as soon as it is available no matter where they are, without having to go through the human resources department or consulting managers. This can help employees to save time and find out scheduling and other information in advance, greatly reducing work stressors and helping to strike a better work/life balance.

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Infosys, Tata Group donate Rs 200 crore to expand reach of Bengaluru NGO’s school lunch programme 

he philanthropic arms of Infosys and the Tata Group are together writing cheques for over Rs 200 crore to fund Akshaya Patra, a Bengaluru-based organisation which runs the largest school lunch programme by an NGO in the world. The money will be used to expand the reach of Akshaya Patra, and equip it with the latest food technologies to help it cook meals faster and cheaper while improving quality.

The Infosys Foundation, headed by Sudha Murty, the wife of the software company's founder, will contribute Rs 127 crore to build three modern kitchens and run operations and a further Rs 20 crore for the corpus. The Jamsetji Tata Trust will contribute Rs 55 crore to help the non-profit acquire the latest technology and improve food safety.

Akshaya Patra, which US President Barack Obama commended in 2008 as a model for other countries, is run by the International Society for Krishna Consciousness. In Hindu mythology, the Akhshaya Patra is a vessel with unlimited stores of food that was gifted by Lord Shiva to the Pandava king Yudhishtira. With the grants, the organisation, over the next five years, will target 5 million school children from the current 1.5 million in 10 states.