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HR & Payroll
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State-run oil firms are on a hiring binge, undeterred by the financial uncertainty plaguing the sector, and potentially making up for any drop in recruitment by the private sector that is battling rough times in the slowing economy.
State-run firms such Indian Oil Corporation (IOC) and the Hindustan Petroleum Corporation (HPCL) are planning to hire close to 1,000 new executives this year, from institutions such as XLRI Jamshedpur, Symbiosis, Pune, and FMS in Delhi and engineers from IITs.
We may recruit about 500 employees in the executive cadre in 2012-13. Some recruitment, say about 150, may take place in the non-executive cadre also," said IOC in an email statement to ET.
The state-run refining and marketing giant plans to visit several business schools for recruitment.
Firms such as Coal India and Bhel have also hired from IIMs in recent years. IOC had hired from IIMs during the slump in 2009, but it could not retain them as the young executives fled as soon as they found lucrative offers from the private sector. This year, it hopes to hire from other institutions.
Examples of these institutes are the International Management Institute (IMI), New Delhi, Institute of Management Technology (IMT), Ghaziabad, Symbiosis Institute of Business Management (SIBM), Pune etc. IOC hired 567 new recruits in the executive cadre in FY 11-12.
Oil companies are struggling because of the government's price controls, but they take pride in non-financial performance parameters.
All HR-related indicators like value added per employee, refinery, pipelines and marketing throughput have shown increase during the recent years, which can be considered as a surrogate for high employee morale.
HPCL plans to hire 300 officers in 2012-13, "LPG, retail, operations and distribution and project and pipelines will see maximum induction," said HPCL in a statement.
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Source : E T
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