Wednesday, January 18, 2017
Walmart said Tuesday it would expand, renovate or relocate 59 Walmart and Sam's Club stores. Some of the jobs will come from expanding or improving e-commerce services. The company reiterated plans to make $6.8 billion of capital investments in the United States with expansion and remodelling of its stores. It said its plans will also lead to 24,000 temporary construction jobs.
Walmart made no mention of President-elect Donald Trump in its announcement. But companies have been under pressure commit to U.S. jobs ahead of his inauguration Friday
Ford scrapped plans for a $1.6 billion plant in Mexico two weeks ago and said it would expand a Michigan plant, adding 700 jobs there. Lockheed Martin (LMT), which, like Ford, had been criticised by Trump, announced Friday it would add 1,800 jobs to its F-35 fighter program. And Sprint (S) said it is bringing 5,000 jobs back to the US.
Walmart, which imports heavily from China and Mexico, is facing pressure on U.S. jobs as well, even if Trump hasn't focused on the retailer the way he has other companies.
When Walmart announced plans in December to add 10,000 jobs in Mexico over the next three years, Trump did not criticise the move. Walmart said at the time that it was not moving any jobs from the United States as part of its Mexican expansion.
Walmart committed in 2013 to purchase $250 billion more in American-made, grown, assembled and sourced products through 2023. It estimated that would add 1 million U.S. jobs. It cited three suppliers who are moving operations from foreign countries back to the U.S., which it said will create a little over 1,000 jobs among them. Walmart has also been under pressure from union-backed groups seeking increases in the minimum wage across the nation. It has raised the minimum wage for its American workers to at least $10 an hour.
Tuesday, January 17, 2017
Small and mid-sized financial services firms are on a hiring spree, pooling in precious human resource talent during these demonetisation days. This trend is part of their talent investment for the future.
Lenders, including Bandhan Bank, Lakshmi Vilas Bank, Yes Bank, JM Financial and IndoStar are hiring scores of executives across the board in a reversal of the current trend as they aim to expand businesses. They have been tapping talents in branch banking, retail, digital and credit verticals
New generation private sector lender Yes Bank is recruiting about 500 people every month while Kolkata-based Bandhan Bank has hired 4,000 employees in the current financial year and the payroll is still on the rise.
Demonetisation impact is temporary,” said Chandra Shekhar Ghosh, CEO of Bandhan Bank. “Going forward, business opportunities will be huge. We have been opening branches every week across all Indian states. We need to recruit to keep pace with this expansion. We hope to recruit somewhere around that (4,000 employees) in FY17-18,” he said
The bank has launched the Bandhan Nextgen Bankers’ Programme which aims at encouraging the young graduates with sector-specific knowledge and the required skill sets
Banks are mostly hiring in smaller cities and towns as bankers see a higher potential in expanding their branches there. According to placement agents, smaller financial services firms are expanding in non-metro and rural strongholds, to tap more business
Demonetisation has not affected small banks unlike large banks as they are in startup mode,” said Kunal Sen, senior vice-president, Team Lease Services. “Small and mid-sized banks are recruiting mostly from tier-2 and tier-3 cities, which is their catchment area. Small banks have completed their leadership hiring and are now hiring for feet-on-street sales and branch banking roles.”
Average remuneration for staff in ‘feet-on-street’ role is Rs 10,000-15,000 per month while those taking up branch banking roles would earn around Rs 20,000-40,000 per month.
Lakshmi Vilas Bank (LVB) plans to hire 500 people in 2017. While around 300-400 people will be hired at the entry level, the remaining will be at various other levels.
We see business optimism coming back next financial year. We are accordingly preparing ourselves,” said NS Venkatesh, executive director of Lakshmi Vilas Bank. “As the demonetisation drive fuels chances of a cashless economy, we are in the process of hiring people with expertise in digital technology.” “The bank is undergoing a transformation. Hence, we plan to hire more specialists,” he said.
IndoStar, a non-banking finance company, jointly owned by Goldman Sachs Inc and Everstone Capital, plans to double its headcount in FY18 as it wants to build new business platforms
We will be strengthening our LAP (loan against property) business by launching new branches as well as increasing our frontline sales team. Business loans and our home finance business are moving into launch mode, we are looking at talent acquisition at leadership levels, to begin with,” said Aditi Nair, vice-president, human capital management at IndoStar. The company intends to strengthen its geographical footprint with branches in six more cities including Chennai, Hyderabad, Ahmedabad, Surat, Indore and Jaipur.
Investment bank JM Financial to is expanding its human capital, eyeing future deals and expanding its lending business.We are in a phase of planned and steady growth and most of our hiring is done to support business augmentation, both existing and new,” said Anil Salvi Group head, human resource & administration at JM Financial.
Friday, January 13, 2017
US-based e-commerce and cloud computing company Amazon has plans to create more than 100,000 new jobs in the US over the next 18 months.
The e-commerce giant, which employs 180,000 full-time US workers, said in a statement on Thursday it would create an additional 100,000 full-time, full-benefit jobs in the country by mid-2018, The Financial Times reported.
Amid surging retail sales, Amazon grew its global headcount by 38 percent in the third quarter of last year, compared with a year prior.
The company added 80,000 new employees, both full and part time, in the 12 months to October 2016, and has more than 300,000 employees.
Amazon’s announcement highlights a new reality for companies as Mr Trump prepares to take office: His public praising or shaming of corporations for their business decisions is pressuring them to stay in his good graces and to adjust their public-relations strategies.
During the presidential campaign, Mr Trump made job creation a central message and blasted companies, including technology giants, for purportedly sending jobs overseas. Since his election, companies across a range of industries have scurried to announce plans to retain or add U.S. jobs.
Amazon was a frequent target of criticism from the president-elect during the campaign.
However, its chief Jeff Bezos appeared to smooth things over by participating in a meeting between tech leaders and Trump last month.
Tuesday, January 10, 2017
Welcome to the world of virtual career fairs, where job hunters - regardless of their nationality - can search for new vacancies, learn about companies that are hiring, make positive first impressions and appear for interviews in the comfort and privacy of their homes. Yes, applicants don’t need to leave the house to do a job interview.
You’ve browsed through job listings on your favourite career portal or social media network and sent out dozens of CVs, but failed to get some feedback. You’ve tried to pop into career fairs but were unable to gain entry. In a job market where expatriate employment opportunities can be hard to come by, it can be frustrating to be a job seeker.
A study by the online job portal showed that virtual career fairs are gaining popularity in the region, with more than a quarter of respondents confirming they participate in such online events.
Satisfaction levels among these participants are also very high. About six in ten (61.1 percent) of those who are from the UAE, Saudi Arabia, Kuwait and other parts of the Middle East and North Africa region said they are satisfied with their online job fair experience, while about a quarter (23.4 percent) are “extremely” satisfied with the results.
There are other ways to find work outside search engines, social networking sites and physical job expos. Companies across the region are increasingly turning to the Internet to connect and interact with potential candidates in real time.
Online career events work like the actual job fairs, where applicants can view job postings, drop their CVs and meet employers through an online booth. Applicants can wait in a queue and get the chance to speak to employers which can be impossible when merely submitting a CV online.
“In a virtual job fair, employers can virtually carry open vacancies. Candidates can instantly see fresh and exciting jobs, submit their CV and apply directly for several jobs. Companies and applicants can also interact via text, audio and video chat, both one-on-one and in a group setting,” explains Muhammad Younas, general manager of www.vFairs.com Each year, a number of online job fairs are hosted for UAE residents. Bayt.com, for example, is planning to open at least three online events in the UAE and at least six across the Middle East.
“Virtual job fairs are a great way for expats to get in touch with employers all around the region, as you can partake in them from the comfort of your own home without having to travel and incur additional logistical expenses,” Muhammad Younas, general manager of vFairs.com, told Gulf News.
“Virtual job fairs cater to an increasingly internet-based job market, enabling easy job hunting and hiring for both sides of the employment process,” said Bayt.com.
Besides, the event is accessible to everyone, not just to some candidates from a certain location or nationality.
Online job fairs also attract a number of companies, from small and medium enterprises to institutions and government offices.
“Due to the benefits that are reaped from the virtual fairs platform, such as reduced costs, larger talent pools, and higher return on investment, many organisations and businesses in the UAE and across the region have chosen to [join virtual job fairs] for their hiring needs,“ Younas said.
Jadea Abolahrari, careers brand manager at Nestle Purina, shared her experience with online job events. “ We couldn’t be more pleased with the outcome,” she told Gulf News, adding that the entire process was seamless.
“During the event, vFairs supported us technically from start to finish, though thankfully, we never really needed it. At the conclusion of the event, they sent us a thorough report of the visits, views, and downloads from the booths. Their customer service is top notch from start to finish – it was an enjoyable experience.”
The Virtual Job Fair will be live from 9am-6pm, January 16th to 18th, 2017. Company representatives from Saudi Arabia’s best organisations will be available online to conduct spot interviews.