HR News: 7 Nov, 2016

1.

LinkedIn signs MOU with Govt to generate more jobs for students

With the objective to create more jobs for students in India, professional networking site, LinkedIn inks MOU with HRD ministry.

One of the leading professional networking sites, Linkedin signs an agreement with HRD ministry to generate more jobs opportunities for students in India.

As per the MOU signed between them, Linkedin’s Placements product will be adopted by all Indian colleges that will be associated with All India Council for Technical Education (AICTE). 

After giving an assessment test, students will be given direct access to 35 top corporates in India.

Akshay Kothari, LinkedIn India Country Manager and Head of Product, says that they are excited to work with AICTE and the HRD ministry to help students get greater access to the 'Placements' product. Their objective for providing placement is to help talented students to get good job opportunities.  Also , through this platform , we want to bring students closer to their aspired jobs. 

Further, this move will provide students access to job openings in 35 top corporates in India. 

Already, over two lakh students have registered in less than eight weeks from the launch.

2.

LinkedIn launches new salary comparison tool

Do you want to know if you are being underpaid? LinkedIn has come up with an innovative tool to help its users compare their salaries to their professional peers.

LinkedIn, which is one platform for networking for professionals, is adding a service that provides members with pay information for a variety of jobs. On Wednesday, the company launched its first such tool called “LinkedIn Salary,” which lets users anonymously submit and view salary information across fields. It shows which companies are paying higher salaries, the education level associated with a certain pay scale, top paying locations and available job listings. To use this tool, members will need to enter their own salary data, including details about base pay and other compensation, such as bonuses and stock grants. This is then anonymized and encrypted to protect privacy (Premium members are exempted from this requirement). 

Currently, the feature is available to all users on desktop and the mobile web in the U.S., Canada and U.K. and is expected to spread globally in 2017. This can come in handy if an engineer in Germany is considering a job in California, for example, and wants to get a sense of the market.

“One of the things in our research that has become quite obvious is that salary is a big part of how people make career decisions,” LinkedIn director of product management Dan Shapero told Fortune. He also added, “The ultimate goal of the tool is to help professionals optimize their earnings by suggesting steps they can take, skills they can build or changes they should consider to earn more or boost their long-term potential”.

3.

HBR Top 100 CEOs list unveiled

After almost a year long process measuring the impact that CEOs have brought to their company at a global level, Harvard Business Review looks at the top 100 Global CEOs

The Harvard Business Review recently published its annual list of top 100 CEOs of 2016.  Started as a practice in 2010, HBR annually rates CEOs performance globally on various metrics which range from financial to ESG (environment, social, governance). Having assessed almost 1,200 large companies this time round, they use a measure of financial performance developed by a team of Harvard academics for 80% of their score.  The remaining 20% came from averaging two overall measures of corporate sustainability performance, including CSRHub.

Methodology

Sharing its rigorous methodology, HBR added that they began the compilation of the initial list of Top CEOs by looking at the companies that at the end of 2015 that were in the S&P Global 1200; an index that comprises 70% of the world’s stock market capitalization and includes firms in North America, Europe, Asia, Latin America, and Australia.

“We identified each company’s CEO but, to ensure that we had a sufficient track record to evaluate, excluded people who had been in the job for less than two years. We also excluded executives who had been convicted or arrested. We ended up with 895 CEOs from 886 companies. (Several companies had co-CEOs.) Those executives ran enterprises based in 32 countries.”

To arrive at the final 100 top names in the global business world, HBR decided to also include performance on nonfinancial aspects. To do so, HBR consulted with Sustainalytics, a provider of environmental, social, and governance research and with CSRHub which collects, and analyzes ESG (environment, social, governance) data. To calculate the final ranking, HBR provided adequate weights to the different points of assessment. They combined the overall financial ranking (weighted at 80%) and the two ESG rankings (weighted at 10% each), post which the list with the final 100 was created.

Lars Rebien Sørensen CEO of Novo Norsdisk a Denmark based healthcare company featured at the top of the list followed closely by Martin Stuart Sorrell the CEO of WPP plc. These CEOs were ranked highest in a cumulative score including both financial and nonfinancial matters.