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“The key is to analyse alternatives and facilitate the redundant staff” A G RAO, MD MANPOWERGROUP Recession is the Time to Rethink & Replenish ABHIJIT BHADURI CLO & CHRD WIPRO TECHNOLOGIES India Inc does have reason to celebrate! LOOK FORWARD TO REVIVAL IN THE JOB MARKET The road ahead The road ahead (India Inc. hopes for a silver lining) (India Inc. hopes for a silver lining) Find TimesJobs.com’s career articles, expert advise and tips @ www.timesofindia.indiatimes.com, Jobs & Career section Pg8 Pg2 Pg4 VOLUME-III | ISSUE 11 OCTOBER 2013 www.content.timesjobs.com HIRING & BEYOND

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Page 1: LOOK FORWARD TO REVIVAL IN - Jobs & Careerscontent.timesjobs.com/docs/TJNewsletterOct2013.pdf · 2020-05-20 · and marketing team could not handle the guerilla marketing tactics

“The key is to analysealternatives and facilitatethe redundant staff”A G RAO, MD

MANPOWERGROUP

Recession is the Time to Rethink & ReplenishABHIJIT BHADURI

CLO & CHRD

WIPRO TECHNOLOGIES

India Inc doeshave reasonto celebrate!LOOK FORWARD

TO REVIVAL IN

THE JOB MARKET

The road aheadThe road ahead(India Inc. hopes for a silver lining)(India Inc. hopes for a silver lining)

Find TimesJobs.com’s career articles, expert advise and tips @ www.timesofindia.indiatimes.com, Jobs & Career section

Pg8

Pg2

Pg4

VOLUME-III | ISSUE 11OCTOBER 2013

www.content.timesjobs.com

H I R I N G & B E Y O N D

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Amid the current economic turmoil,India Inc is hoping for a revival thatwill set the GDP on track and will

turn the job market around. According tothe latest Thomson Reuters/INSEAD AsiaBusiness Sentiment survey, while businesssentiment among Asia's top companiesweakened in the third quarter, optimismreturned to India Inc. In the light of this,TimesJobs.com undertook a study to explorethe reasons for India Inc’s upbeat outlook.

India will be the preferred jobdestination According to the survey, despite theslowdown; India Inc is positive that Indiawill remain a preferred job destination forthe majority of the workforce. About 37 percent of the surveyed organisations statedthat more Indians will choose to work inIndia, than abroad, in spite of thetumultuous economic conditions.IT/Telecom and Manufacturing &Engineering industries are expected to leadthe pack, as far as hiring is concerned.BPO/ITeS and FMCG/Retail will follow suit.

Elaborating on this, Dr. Pallab

Bandyopadhyay, director-HR, Citrix Indiacommented that the risk-taking ability ofthe Indian workforce has gone up. This canbe judged by the fact that many studentsfrom premier B-Schools are increasinglyturning entrepreneurs. And, they want tostay in India and start their own business.For the international workforce/companies,India is an emerging market and good fortheir business expansion plans. Givingexample of the mobile market, Dr.Bandyopadhyay maintained that for mobiletechnology, India is the second largestmarket, only next to the US, and has jobopportunities in the segment.

According to Sangeeta Lala, co-founder andsenior VP, Teamlease, India is at anadvantageous position as it has an abundantsupply of job seekers and their skills andeducation are of better quality than the restof the subcontinent.

Changes in compensation andtechnologyHowever, there are things that the slowdownwill change – one is the way the Indianworkforce is compensated. Close to 46 per

cent of the employers believe thatcompensation design will have morevariable pay structure and will focus onperformance driven compensation, pointedout the survey. Another 37 per cent predictcompensation growth will remain average.

Supporting the survey outcome, Dr.Bandyopadhyay remarked thatorganisations are aligning their employeesto the volatile market ecosystem withperformance driven compensationstructure. High performers are rewardedand recognised via variable pay component.Employers also give options such as stocks,ESOPs and profit sharing to employees,which are subject to level of employee andthe size of the organisation.

Another change is technology, over 60 percent of the organisations see technology asan enabler in faster growth of the economyand they are hopeful that it will create newjob roles, in the future.

Lala adds that technology will be the fourthmultiplier of the Indian economy. It willhelp in job creation across segments,especially in automation and analyticsdomain.

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Cover Story

IndIa Inc. does have reason to celebrate!Despite the economic doomsday theories, our survey indicates thatwe can look forward to a revival in the job market…

The pace India generated early in the lastdecade may have been difficult to sustainand like its emerging peers, our countryis now witnessing a slowdown. Weakglobal cues apart, the home market thatprovided India an element of economicinvulnerability, has also been (hopefullyonly temporarily) impacted.

That said, and with some caveats, the longterm prospects of India remain bullish. Itcontinues to be a growing economy whichis largely internally driven and has aburgeoning middle class that producesalmost a quarter of the world's newworkers over the next few years. Thereare bound to be skill gaps in this youngworkforce but with the increasingobsession with education and the rightinterventions, this shortcoming can beovercome.

In spite of this economic down-turn andmajor ambiguities around the politicalenvironment in India, employer hiringintentions in the long term should remainpositive in many sectors.

Infrastructure, transportation andutilities should see continued demand.Any improvement in global cues and thetechnological advancements will furtherimprove IT and ITeS sector employers’hiring intents.

We may also see a revival in the employeehiring plans in the overall services sector;wholesale and retail trade sector. Theproposal for additional licenses for banksand Indian government’s efforts to reducered tape in getting foreign directinvestment in certain sectors will alsocreate positive atmosphere for hiring.

‘Long-term prospects of India look bullish’

Shrutidhar Paliwal, Vice President & Head - Corporate Communication and Media Relations – Aptech Ltd

Regus Business Confidence Indexfindings:

l Companies reporting revenuegrowth in India have increasedfrom 63% to 66% while thosereporting profit growth have flat-lined at 54%

The top four efficiency outcomesfor India are:

l Improved staff retention (49%)

l Less fixed office space (43%)

l Higher return on investment onmarketing and advertising (42%)

l Cost effective services providers(33%)

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Highlights

According to a recently concluded survey by TimesJobs.com togauge the changes that the slowdown will bring in the way wework, compensate and engage, over 60 per cent of the

organisations believe that going forward India Inc will increasefocus on getting hiring right by defining job roles more precisely andspecifically. Industry experts believe that well defined job roles arecrucial not only for employees but also for overall organisationalgrowth. By clearly defining job roles, organisations set the rightexpectation for the employee. It reduces any sort of confusion andmisunderstanding at a later stage.

Another 20 per cent of the organisations believe that companies willbe forced to think hard about their employer brand, especially in theonline space, as part of their future strategy. With the war for talentintensifying, technology savvy employers are recognising the worthof an effective online employer branding strategy. They understandthat reaching out to a larger talent pool by strong marketing andbranding strategies is the need of the hour. The focus would be totailor one’s approach to address a different set of audience in boththe online and offline space and the internal and external context.

According to 66 per cent of the surveyed organisation, in thenew world of work, companies will have lean teams, with a lotof focus on productivity. The dynamic business environment

of today demands high speed process with quality assurance.Experts believe that building lean teams is the way forward. Creatingand managing work process with horizontal focus rather than avertical one is a better technique to get the competitive edge intoday’s fast moving workplace functions. However, since this conceptis not very common in India Inc, to implement this approach theentire perspective, outlook and business functionalities and cultureneeds to be reinvented. Organisations affirm that all the effort isworth the outcome as this is indeed going to boost businessproductivity. The survey also pointed out that approximately 22 percent of the employers see increase in flexible options/telecommuting in the future workplace. This trend has beencatching pace in Indian organisations, lately. Growth of flexible workoptions in the future is much anticipated and desired by theworkforce and employers, alike.

Well defined job roles,more focus on gettinghiring right

Companies will beforced to think hardabout their employerbrand, especially in theonline space

Nothing will change,once the downturn isover things will be backto the usual

Well defined job roles will be the game changerWhat do you believewill change in therecruitment spacein the near future?

One thing that will not be change in the future is the need forskilled professionals. According to the survey, close to 78 percent of the surveyed organisations stated that skills will be

the most important criterion while hiring a candidate. Other factorssuch as education, experience have become secondary. While skillsare the primary decisive factor while recruiting, skill deficit willcontinue to pose a big challenge for India Inc in future, revealed thesurvey. Over 50 per cent of the surveyed organisations believe thatskills shortfall will be a big impediment for themin future. Though,29 per cent are optimistic that the scenario will improve, asacademic and industry partnerships will bear fruit. Another 15 percent feel that things will get better, as government intervention inthe talent development plan will ensure a skilled workforce.

Skills are and will be most desired

Doing more with less will be the focusWhat will the new world of work look like?

Companies will have leanteams, with a lot of focuson productivity

Flexible options -telecommuting

Companies will continueto have a hire and firepolicy

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Guest Column

What canorganisations do?Rethink the businessmodel: Consumer behaviourchanges during recession.Research shows that duringslowdowns, consumers’spending habits change.People eat out less often, buttheir spending onentertainment increasessignificantly.

Some industries do betterduring recession eg theinsurance industry. Softerbusiness growth may shrinkthe market for some productsit also opens up new marketwith vast untappedopportunities. These marketsneed new business modelsand products and servicesthat are custom made forthese pockets.

Rethink competition: Whenthe business model changes,the competitive landscapemay change. Theorganisation may now need tothink of a different set ofcompetitors. These non-traditional competitors couldprove to be far more lethalthan the traditional ones.

A leading MNC snack-manufacturer found itselfconceding market share insome states to local producerswith significantly smallerdistribution costs. Their salesand marketing team could nothandle the guerilla marketingtactics that these local playerswere adept in.

Rethink your talentportfolio: During therecession, hiring slows down.This is the ideal time torevisit your talent pool. Whatskills do you not have enoughof ? What are the skills thatare not as relevant in the newenvironment? It is a goodtime to identify skills that arein short supply for the newmarketplace.

Many firms use this time tohire talented people who mayhave been laid off or areshaky about continuing withtheir current employer. Thisis a time to invest heavily indeveloping the talent pipeline.You may be able to leveragethe slowdown to tie up with atop notch academicinstitution or professor whowould have turned up theirnose in better times.

What can individuals do?Rethink your career: Thecareer opportunities thatarise when the economy is ona fast track are different fromthose that show up duringtimes of slowdown.

The new markets andconsumers may provide agreat opportunity for you tobecome an entrepreneur.Once the economy picks uppace, so will your newventure. That also means thatcareer opportunities willprobably emerging in non-traditional sectors.

If you have a skill gap, theemployers may be morewilling to invest in bridging asmall gap to make you aperfect fit. This maybe thebest time to find your dreamjob. Before you jump shipremember that duringslowdown, the employers giveyou a shorter runway beforethey expect you to startdelivering results.

Replenish your skills: Usethe time to invest in buildingyour career. Take the coursethat you always wanted to andsharpen your skills. The newmarket realities will createnew career tracks that did notexist before.

A few years back, a career inanalytics was lessmainstream. Today there aremany more employers whoare looking for people withdegrees in statistics oroperations research and areprepared to offer themattractive careeropportunities.

Writing content for the webwas not a career option a fewyears back – now it is. Takeadvantage of the slowdown toget certified because once therecession is over, you won’thave this luxury.

While the majority ofindividuals and organisationsthink of the slowdown as atime to wait and watch, thereare a few who use this time toemerge stronger than ever.

‘Recession is the time to rethink and replenish’

Abhijit Bhaduri

Chief Learning Officer & Head of CHRD

Wipro Technologies

Abhijit Bhaduri works asthe Chief LearningOfficer for the Wiprogroup. He lives inBangalore, India. Prior tothis he led HR teams atMicrosoft, PepsiCo,Colgate and Tata Steeland worked in India, SEAsia and US. He is on theAdvisory Board ofWharton's prestigiousprogram for ChiefLearning Officers that isrun by the University ofPennsylvania. He is anadviser on Social Mediausage for SHRM in India.He is among the top tenHR influencers on SocialMedia according toSHRM, India. Abhijit isthe author of two worksof fiction. His mostrecent book about hiringis called Don’t Hire theBest.

While watching the movie Bhag Milkha Bhag I started to notice how the runners use thetime between the sprints. They use this time to prepare themselves to win the nextevent. They use the down time to rest their muscles, catch their breath and rethink their

strategy and approach to competition. The best of the runners use the lean period to prepare forthe next race.

An erstwhile leader in consumer electronics was forced to rethink its business model during thelast downturn. They used the stagnant market in TV and audio-visual segments to rethinkthemselves as a health and well-being company instead. Today more than 40% of their revenuecomes from the healthcare market. They used the downturn to gain a large market share of thisrapidly growing segment. To truly take advantage of the opportunities in this new segment, theyhave to rethink their talent portfolio too. They have to evaluate which skills will have to bebrought in from outside and which ones will be easier for the current employees to learn.

While organisations and individuals get distressed when there is a slowdown, this is actually atime that can help us get the first mover advantage when the markets open up. Peaks and troughsin business cycles need different approaches.

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Most of the top business leaders (Domestic /Foreigner) are concerned aboutthese 3 things, which will usher India Inc.to the next phase of growth:l Availability of low cost skilled humanresource. HR is a major component of thecost of production/service. That's whyeven foreign companies are eyeing India

l Improving democracy. A democraticinstitution makes betterpolicies/decisions in transparent way

l 2014 Lok Sabha election. Indianleadership really needs a change. Achange will bring fresh energy

Is there a silver lining for India Inc in the globalslowdown?

Alok Singh Chauhan

Business Development &

Marketing professional

No, nothing much to rejoice yet, butcertainly some reasons to feel better -that the government is finally waking upto the fact that it needs to pro-activelysupport investments, manufacturing,infrastructure, deficit control, etc. if thegovernment continues to be steadfast inthis new resolve, not just India Inc but allof us will have a lot to rejoice; a lot of ourcapital and demographic advantages willbe put to use and not be frittered away.

Pankaj Maheshwari,

Head - Corporate

Coverage - North India

Credit Agricole CIB

Yes, the government has beenindecisive for the past 3 years incertain issues. However thefundamental of the Indian Economybased on strong domestic demand dueto demographic advantage, agriculturegrowth and better controlled financialinstitutions will give us reason tocheer. This slowdown is a good time topenetrate to rural markets, expandcapacities. Labour reforms, decreasingbureaucratic control and incentivesystem for government employees towork will help to grow further.

Ajatshatru Kaushal,

PGPX (Strategy and

Data Analytics)

lWhile it may look messyand directionless, in theeyes of insiders, for outsidefriends, India Inc is anoasis of stability

lDiversity and surprisesmay pull out the rabbitfrom that magical hat. Massself motivation isprescribed

Thomas AW, Strategic Director &

Chief Motivator at Stone Mirror

Institute of Contemporary

Management Studies

To me it is a matter ofperspective, yes everyindustry is stagnating andunable to grow, thanks to thepolicy paralysis, the onlyaction that got taken is nowburning in AP. If I were tolook for the silver lining theonly one I can see is thatelections are around thecorner, hopefully they willcome with a conscience.

Shyleswari Mohan, OD Consultant

SocialMediaChatter

Social Chatter

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Events

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Industry can train for technical skills;academia should focus on soft skills:Hyderabad Meet

EVENTS

CALENDA

R

NHRDN AnnualConference 201321st – 23rd November,2013Swabhumi, The HeritagePlaza, KolkataOrganised by: NHRDNContact: Dhananjay SinghTel: [email protected]

Upcoming Events

Understanding the need toaddress campusrecruitment and

engagement in the currentscenario, TimesJobs.com inassociation with ICBM-SBEhosted a panel discussion inHyderabad focused on ‘TheCampus Code 2013: Decoding theNew Age strategies’.

The panel included NimishGupta, global head – learningand development, TechMahindra; Sadras RaghunadhanSriram, head-human capital, DEShaw India Software; Dr. MuraliPadmanabhan, senior directorand global head learning &leadership development,Virtusa; PM Nanjappa, seniorVP-HR, Advanta Ltd; Dr. KPanduranga Rao, group head-HRD & administration, IVRCL;Joy Dupati, head-talentacquisition; Hitachi Consulting;Sanju Patra, head-talentacquisition, RamkyInfrastructure and professor S.Zaraar, director & principal,ICBM SBE.

Starting the discussion, Dupatiof Hitachi Consulting stated, “Inour company, we have definedcritical business factors such ascommunication, initiative,adaptability, ownership whichare common for entry level aswell as lateral talent. Thesefactors are essential for ourcompany’s DNA.”

According to Dr. Padmanabhanof Virtusa, skills can be taughtand a good quality candidate is

one who can become quicklyindependent and productive.Campus hires take at least 6months to 1 year to beproductive. “And, when freshersare injected into a project team,the overall team productivitycomes down by 40% as itrequires huge effort to train andsupervise them.”

What is the disconnect betweenacademic outcome and whatindustry wants? According toDr. Rao of IVRCL, universitiesare producing resources by thebook, without understandingtheir suitability keeping in mindindustry need. And, this createsa divide between the talent poolavailable and industryrequirement.

Should academia produce talentaccording to industry? To thisend Dr. Padmanabhan repliedthat industry-academiacollaborations are essential,however academia also has tofulfill its larger purpose ofgiving education for academicexcellence. They can’t justproduce talent for industrialjobs, so they have to be slightlymore conscious while tailoringcurriculum according toindustry needs.

Adding to this, Raghunadhan ofDE Shaw India softwarecommented that technical skillsshould be imparted by theacademia and industry can trainresources according to theirspecific requirement. Theintervention is required in softskills and cultural orientation ofthe students. And in the currentscenario, where there is inter-industry talent exchange,changing curriculum as perindustry trend might not beappropriate.

Another big challenge isassessing the culturaladaptability of young graduates

and how soon they will startcontributing to the organisation,said Nanjappa of Advanta ltd.“When we hire students fromcampuses, we want to trainthem and retain them for areasonable period.”

“More than technical skills, welook for a candidate who canadapt to a challenging workenvironment and is ready towork in remote locations. Today,students are not ready to takesuch jobs and hence move toother sectors”, said Sanju Patra,head-talent acquisition, RamkyInfrastructure.

Underling another major issuein entry level talent, Gupta ofTech Mahindra highlighted thatcandidates lack basic knowledgethat cannot be taught at theindustry level. ‘There are threebasic skills which we look fortechnical, behavioural/leadership and domainexpertise.”

TimesJobs.com’s View: Theactual relationship between theindustry-academia should startbefore the placement season andcontinue beyond it. This connectshould not be only limited todesigning curriculum, butshould move to training thefaculty, pinpointing employableskills and together, mentoringstudents to make themproductive and job-ready. Bothstakeholder need to understandthe expectations of GEN-Y. Thiswould ensure a sustainedindustry-academia connect.

Key TakeawayslDuring selection,academia shouldassess candidates’suitability

lAcademia shouldhave a department toteach soft skills tostudents

lTo engage Gen Y,companies needs tofocus on socialacceptability of thejob

lCompanies shouldsensitise managersand HR to deal withGEN Y

lBusiness ethicsshould be part ofacademic curriculum

lStudents are lookingfor career path; notjust job roles

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Expert Speak

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Disclaimer: Information provided in this newsletter shall not be reproduced, published, re-sold or otherwise distributed inany medium without the prior written permission of TimesJobs.com and a clear acknowledgement to TimesJobs.com.Contact: TJinsite, TimesJobs.com, Plot No 6, Sector 16A, Film City, Noida. Write in to [email protected]

Copyright ©2013 Times Business Solutions Limited. All rights reserved.

Do you anticipate job revival in the nearfuture?

There is a huge demand supply gap in thehiring industry. In the coming 6 monthsIndia Inc’s hiring plans are expected to pickup but at a slower rate. There is a scope forimprovement in the net business outlook.The talent from tier II and tier III citiesseems to attract great jobs ahead, speciallyengineers and MBA’s. The focus remains tohire fewer but better quality personnel.

The private insurance segment, public andprivate banks, franchising industry, miningindustry are likely to rise and create greatopportunities from last year, as big playerswill eye more business in India.We do expectthe Indian economy to do better in thesecond half of the FY14, attributed to thegrowth of the core sector, exports and creditto some sectors.

Flexible staffing is gaining momentum inthe world due to complex businesssituations in the fast changing world. Just intime hiring model is being adopted by firmsdepending on the number of projects andtheir size.

From this point, how do you foresee thefuture of the job market in India?

Hiring will surely see an upswing in the lastquarter of 2013 as most economies arecoming out of slowdown and the demandfrom domestic as well as internationalmarkets would create many jobopportunities. After remaining mostlystagnant in 2012 due to global economicslowdown, Indian job market is expected togrow only at a modest pace next year,although still better than other countries.Although the sectoral data might vary, theengineering, BFSI, social media industry,aviation industry are the key sectors whichmight see a bloom. Despite the economicweaknesses and ups and downs, job growthwill continue.

Which profiles would be in demand?Which positions will be most soughtafter – fresher/mid-level/topmanagement?

l The top Indian IT majors, who togetheraccount for a combined workforce of over650,000, are now focusing on lateral andspecialised hiring even while recruitingfresh graduates. The IT sector will focuson hiring for niche skills in the toughmarket, such as SAP, Cloud computing,Big Data, Oracle.

l Demand is also strong for corporaterestructuring experts and mortgagerepossession negotiators.

l High-end healthcare contracts arecreating demand for actuaries, medicalcoders, US registered nurses, medicalwriters and biostatisticians.

l Rise in demand for profiles like strategicsourcing which are sector agnostic andasset reconstruction managers in BFSI.Salaries for asset reconstructionmanagers have doubled as demand hasshot up.

l In times of a slowdown, the job of an assetreconstruction manager becomesimportant as they work withnonperforming loans/assets to recreatevalue.

l In the social media domain, the hot jobswould be Search Engine Optimisation,Social media specialist/strategist, Mobileapplication developer, Social businessanalytics and Digital campaigns manager.

l Other positions in demand:

- Product managers- Consultants- Usability specialists- Online marketing specialists- Software developers- Process architects

- Community managers- Multi-channel project managers- Sales and customer support roles

Freshers: Employers are keen to provideinternship, and graduates are expected totake those assignments even if they are notpaid because at the entry level, experienceand exposure to the workplace is asignificant payback. Social-media isdemanding young blood to manage theirsocial media strategies.

Profiles most suited for freshers as stated bytop employers: Research associates,Trainees, sales executives etc. Some of thecategories of jobs for freshers in India alsoinclude administrative jobs, sales andmarketing executives, jobs as probationaryofficers in banks, technical supportexecutives and customer support executives,business/research analysts and medicaltranscriptionists.

Mid level Executives: Senior softwaredeveloper, Senior engineer, Seniordevelopment specialist, Technical lead,Project lead, Manager IT, Businessdevelopment managers, Relationshipmanagers in Financial services.

Top level Executives: Demand for womenfor top level positions is rising.

Positions include: AVP, VP, Product head,Director, and Chief manager etc.

What will be the three key trends/changes anticipated in the recruitmentspace, in the near future?

l With a fresh batch of hopefuls awaitingjob opportunities every year, job seekerswill have to be both, competitive andqualitative in order to secureemployment. Quality of hire is toppriority for Indian employers. Socialprofessional networks, employer brandingand data driven decisions are among thetop recruiting trends for coming months.

l Considerable emphasis would be onhiring local talent due to current macro-economic scenario, rupee v/s dollarstrength and the rise in expat salaries.This means that the rupee depreciationmay trigger exploring of local talentwhich can fit into the roles earlierearmarked for expats.

l Most companies will not consider areduction in workforce, they will decreasetheir hiring efforts by growing internaltalent. Lateral hiring to be consideredinternally through promotions as well asfrom the industry in new areas. Campushiring is likely to be lower than FY2012.

‘The key is to analyse alternatives & facilitate redundant staff’

A G Rao joinedManpowerGroup India inDecember 2012 asManaging Director. Prior tojoining ManpowerGroup,AG was Executive President,Enterprise Business &Technology - TataTeleservices, India. In hisrole in Tata Tele, he wasresponsible for planning,implementation &operations management ofpan-India telecom networksas CTO and Head ofEnterprise Business Unit.

A G Rao, Managing Director