Adani to focus on India plans: Australia project jammed
The fresh investment the group is planning is in addition to the Rs 50,000 crore it promised on Friday to invest in setting up urea, power and natural gas projects in Jharkhand. Last week, the group had said it was stopping work at its Australia coal mine project due to delay in approvals from the local government. Though the local government said all approvals were in place, the decline in coal prices and lack of bank funding were seen as some of the reasons for Adani to go slow in Australia. Analysts say it makes sense for the group to focus on its India projects, considering the number of projects it has announced or taken over since the Narendra Modi-led government took charge at the Centre. However, they are not sure how Adani plans to fund its massive projects. “The Adani group is financially and operationally leveraged to the expansion of several sectors across the Indian economy. Numerous new projects are underway. Some of those will be viable and proceed, while others might see some regulatory, market and financing changes that could make the proposals non-commercial,” said Tim Buckley, director, Energy Finance Studies, Australasia. At the end of March 2015, the group’s three listed companies had a combined debt of Rs 75,000 crore, a group-level debt-to-equity ratio of 2.9. At 5.7 times, the group’s gearing ratio (total debt to operating profit) was also on the higher side. While group companies are comfortably servicing their debt, with operating profit far higher than interest obligation, their capital expenditure is growing faster than internal accruals. This is forcing them to either make fresh borrowings or raise equity. The group’s debt in 2014-15 was about Rs 10,000 crore higher than in the previous year. By comparison, the group’s equity (or net worth) increased by around Rs 2,000 crore, further worsening its leverage ratio. The bulk of Adani group’s debt is accounted for by Adani Power, which reported a total debt of Rs 41,384 crore at the end of 2014-15. It was a fourth straight year in which the company reported a net loss. The brighter side, however, is that Adani group’s port company, Adani Ports & SEZ, is cash-rich and one of its least leveraged companies. This, coupled with its high market-capitalisation-to-debt ratio, gives the Adani group the headroom to further scale up its capital expenditure. The group plans to raise $1.5 billion from foreign bonds, apart from raising funds from local banks for individual projects. Adani’s India investments are huge. The biggest it is going to make is in solar power. The group has signed a joint venture with US-based SunEdison Inc to manufacture solar panels. The joint venture will invest a massive $4 billion (Rs 25,600 crore) in a manufacturing facility that will be set up in Mundra. The group has also signed a memorandum of understanding with the governments of Rajasthan, Gujarat and Tamil Nadu to set up solar parks for electricity generation. The investments in these solar parks are going be very big in size – Rajasthan tops the list with Rs 40,000 crore. Approached by Business Standard, the Adani group refused to comment on its expansion plan. Among its port-sector plans, the group is to invest Rs 10,000 crore in expanding its capacity at Odisha’s Dhamra Port to 100 million tonnes per annum by 2020. It will also set up a new port, worth Rs 6,200 crore, in Kerala. Adani Ports is also developing a new Rs 1,270-crore container handling terminal at Tamil Nadu’s Ennore Port, with a Rs 7,680-crore capital expenditure plan to expand the capacity to 80 mtpa. In a report dated June 24, Deutsche Bank said Adani Power’s reduced valuation of 1.6 times its 2015-16 estimated earnings still looked high when compared to peers, assuming a steady 5-11 per cent return on equity by 2017-18. “We retain a ‘hold’ rating due to the delay in compensatory tariff approval, which is bloating the capital structure. Even under conditions of reasonable volume growth and benefits of compensatory tariffs, the return on equity appears to be in a single digit. That could weigh on valuations,” said the report. “The company has implemented a 5-25 refinancing scheme for Kawai, and expects to complete it for Tiroda. That should lead to improvement in cash flows. The signing of long-term fuel supply contracts/new mine allotment for Kawai and Tiroda-II projects, and a favourable verdict for compensatory tariff cases will be key factors,” the bank said in its report. To raise funds effectively and to increase liquidity in its stocks, holding firm Adani Enterprises Ltd underwent a major restructuring, under which shareholders of Adani Enterprises received shares in Adani Port and Adani Power. The flagship Adani Enterprises was left with businesses like coal trading & mining, city gas distribution, agri logistics, edible oil and agro-commodities trading. The restructuring will help each group company, including the flagship, to chart its own expansion plans in India, say analysts. As of March 2015, on a revenue of Rs 3,909 crore, Adani Port had a debt of Rs 15,200 crore. This was 18 per cent higher than the previous year. Most of the additional debt was taken in 2014-15 for capital expenditure for Hazira, Mundra container terminal-IV and maintenance. Analysts do not see any increase in the debt of Adani Port after restructuring.
The Gurukull is set to open in July
With an aim to connect the youth from this generation to Indian heritage and language, Narinder Kumar Garg and his wife along with a few community volunteers have ignited a start up venture, which offers Hindi language tutoring over the weekends. “The Gurukull” concept is the first of it’s kind in Victoria. It all began two months ago where the language of Hindi was broken down to the basics and children were introduced to a language that held the flavor of their Indian roots on their tongues. Narinder holds the classes in Craigieburn every Saturday from 11:00am to 12 Noon. “Every week, new parents & children have been joining us passionately. We have been able to teach fifteen children presently and looking forward to include more. Apart from teaching them how to read and write in Hindi, soon we are likely to start yoga, dance, music classes and other cultural activities. A Gurukull Chaupaal (Indian Australian Parents Club) is also planned.” Said Narinder Kumar Garg, Founder & President, Gurukull. ‘The Gurukull’ is a Not for Profit Organization and is in ties with the Victorian School of Languages (VSL) in order to gain a formal setup. The school will be inaugurated on Saturday 11 July 2015 at the Newbury Child and Community Centre, 440 Grand Boulevard, Cragieburn. The time is from 12 pm to 2 pm. The event is set to include the presence of a few dignitaries, well known community people & local community leaders. A short cultural program will take place as part of the event. For information on the classes please contact: Narinder Kumar Garg Ph: (03)93566721; Mobile: 0431 123 045; Email: email@example.com
Indians, Chinese account for rise in New Zealand migration
Wellington, June 22 (IANS) New Zealand’s annual migration rose to a new annual record as more students from India and China arrived, a statistics agency said on Monday. The annual permanent and long-term migration showed a record net gain of 57,800 migrants in May, the 10th straight month of annual records, the New Zealand Herald reported. Migrant arrivals rose 15 percent from the year earlier, while departures slipped to 10 percent. The increase in migrant arrivals in May was led by India, Australia, the Philippines, China and France. Indian arrivals doubled to a net gain of 12,100 on an annual basis, from 6,585 arrivals a year earlier to be the biggest group, while the number of people arriving from China increased 22 percent to a net gain of 7,745 people.
Be Heard, Be Relevant
IEC welcomes Geoff Kelly of Kelly Strategic Influence Pty Ltd. How specific people see you, your business and your products and services defines the limits of their success. Change how they see you and you will change your future. Getting heard today takes more effective approaches, and more captivating messages. If we fail to fascinate, we become irrelevant. Most organisations fail to connect with their stakeholders. Their main flaw is that their messages are complex, abstract and largely about themselves. This robs them of the impact they need. Information is doubling every three years. The average attention span is down to less than eight seconds. And most people are largely disengaged about most things. So being invisible means no attention, no results, and no future. For the last 15 years, Geoff has helped clients with some of the most powerful approaches available to meet this challenge now, and into the future. Although Geoff works with several large corporations and national associations, he also works with Directors of private companies and professional service firms. Clients have included Rio Tinto in London, Orica, Australian Bankers Association, PricewaterhouseCoopers, Richard Pratt, the Victorian Premier’s Office, and many other corporations, private companies and professional service firms. In his previous corporate career, Geoff worked for four of Australia’s top 10 corporations (including three years on the Executive Committee of a 30,000 person business). He is a former Fellow and Victorian President of the Public Relations Institute of Australia, and was a founding Council Member of the Small Business Council of Victoria. You can contact Geoff at: Mobile: 0421 112 111 Email: firstname.lastname@example.org
Top 25 restaurants in SpiceOut Luxury Edition
Indian Executive Club is granting 25 restaurants from all across Melbourne the chance to be featured in the SpiceOut luxury edition this year. It will include five of the best restaurants from each of the following areas; North, South-East, West CBD Only 10 spots remain in this luxury edition! Kindly contact our team at IEC on email@example.com to register an interest! Natasha Doraiswamy, Vice Chairperson ABOUT SPICEOUT: ‘Spice Out’ is the Indian Executive Club’s (IEC) annual publication targeting the hospitality sector. We aim to celebrate this luxury edition at our 5 hour Annual Corporate event ‘SpiceOut Awards 2015′. The event will deliver a VIP atmosphere from start to finish all guests play witness to the day’s food festival finale(India day Food Festival) and the beginning of a new platform for awards – Recognition towards the cream of entrepreneurs from the hospitality sector at Spice Out Awards 2015.
10 Keys To Financial Success
Rashesh Bhavsar, Financial Adviser, Fortune Wealth Creation Group Budgeting to investing to building the will power to spend less than you earn, here are some pointers to saving more. And there’s no better time to start than now Although making resolutions to improve your financial situation is a good thing to do at any time of year, many people find it easier at the beginning of a new year. Regardless of when you begin, the basics remain the same. Here are my top ten keys to getting ahead financially. Make sure you earn in line with market, try to increase it, and spend less than you earn It sounds simplistic, but many people struggle with this first basic rule. Make sure you know what your job is worth in the marketplace, by conducting an evaluation of your skills, productivity, job tasks, contribution to the company, and the going rate, both inside and outside the company, for what you do. Being underpaid even a thousand dollars a year can have a significant cumulative effect over the course of your working life.No matter how much or how little you’re paid, you’ll never get ahead if you spend more than you earn. Often it’s easier to spend less than it is to earn more, and a little cost-cutting effort in a number of areas can result in big savings. It doesn’t always have to involve making big sacrifices. Have a budget and stick to it One of my favourite subjects: budgeting. It’s not a four-letter word. How can you know where your money is going if you don’t budget? How can you set spending and saving goals if you don’t know where your money is going? You need a budget whether you make thousands or hundreds of thousands of dollars a year. Pay off credit card debt/high interest/non deductible debt first Credit card debt is the number one obstacle to getting ahead financially. Those little pieces of plastic are so easy to use, and it’s so easy to forget that it’s real money we’re dealing with when we whip them out to pay for a purchase, large or small. Despite our good resolves to pay the balance off quickly, the reality is that we often don’t, and end up paying far more for things than we would have paid if we had used cash. Non deductible debt should be payable first as it does not attract any tax benefits. Contribute to a Superannuation for your retirement Yes, super is boring but it can be your dearest friend if you are high income earner and planning have comfortable retirement. Super is not an investment, it is just a tax structure where you park your money to save for your retirement. In super you pay maximum tax up to 15% in compare to your marginal tax rate which can be up to 45%. Once you put money into super, generally you cannot access until you meet your preservation age (normally age 60 for most people) or meeting one of early access eligibility criteria. We highly recommend to get a professional financial advice before you put money into super. Have a savings plan You’ve heard it before: Pay yourself first! If you wait until you’ve met all your other financial obligations before seeing what’s left over for saving, chances are you’ll never have a healthy savings account or investments. Resolve to set aside a minimum of 5% to 10% of your salary for savings BEFORE you start paying your bills. Better yet, have money automatically deducted from your pay check and deposited into a separate account. Invest! If you’re contributing to superannuation and a savings account and you can still manage to put some money into other investments. Remember, diversification is a key to minimise your risk from one asset class under performance. If you are investing for more than 7 years, investing into stocks and property historically outperformed cash and term deposits significantly. Review Your insurance coverage Too many people are talked into paying too much for life and disability insurance, whether it’s by adding these coverage to car loans, buying whole-life insurance policies when term-life makes more sense, or buying life insurance when you have no dependents. On the other hand, it’s important that you have enough insurance to protect your dependents and your income in the case of death or disability. Normally, to provide full protection to your family by having Life, Trauma, TPD (Total & Permanent Disability) and Income Protection cover cost between 2%-3% of your income and you also get tax deduction for income protection. Update your will and enduring power of attorney Almost more than half of Australians don’t have a will. If you have dependents, no matter how little or how much you own, you need a will. Protect your loved ones. Write a will. You also need a enduring Power of Attorney; make sure it is enduring not a general power of attorney. Enduring power of Attorney works beyond the mental incapacity while general power of attorney does not which defeat the purpose of power of attorney. Enduring power of attorney comes in various types — limited financial, medical and guardian. If you have a child or children, you need to have Enduring Power of Attorney (Guardianship). Keep good records If you don’t keep good records, you’re probably not claiming all your allowable income tax deductions and credits. Set up a system now and use it all year. It’s much easier than scrambling to find everything at tax time, only to miss items that might have saved you money. Get professional financial advice and review it regularly (at least yearly) If you need a doctor, you go to doctor right; if you need an electrician you call him; right you do not do yourself. So why you take a risk on your financial future by managing your financial affairs yourself. It is important to be a financial literate and I always encourage so you can take informed decision but doing everything yourself is surely not a right way to go as financial planning is a complex field and changes do happen every year in tax, superannuation and that make it more complex. According to Galaxy survey, 9 out of 10 Australians are benefited from the experience of using a financial planner but unfortunately only 2 out 10 Australians currently have their personal financial planner. It is also very important to review your financial situation regularly with your planner to update or modify the strategies accordingly. The writer is a financial advisor, CEO & Co-Founder of the Fortune Wealth Creation Group, and can be reached at firstname.lastname@example.org
IEC ANNUAL EVENT: SPICE OUT AWARDS 2015
Indian Executive Club extends a hearty invitation to all “Indian food lovers” in Melbourne to attend our annual event Spice Out AWARDS 2015 -a VIP Food affair. If you would like to buy tickets and be a part of this exclusive event please express your interest to email@example.com IEC is proud to announce that we are hosting an awards night at Spice Out to honour the creme de la creme of the Indian restaurant community. These are categorically people’s choice awards and therefore, restaurants from all across Melbourne will depend entirely on customer satisfaction in order to go home winners! It is time to get cracking and spread the word. Team IEC will be unveiling this year’s Spice out exclusive publication which features a number of the best restaurants and acts as a Melbourne Indian food guide. If you are a restaurant owner and you would like to be featured in it- do not hesitate to contact us! The Spice Out publication will be sold at the International food festival on the 16th of August at the Werribee racecourse.
SPICE OUT AWARDS 2015: CATEGORIES
The following are the Awards categories for Spice Out AWARDS 2015: BEST INDIAN RESTAURANT: Restaurants that have a balance to all areas of food quality and also includes efficient service & ambience! BEST CONCEPT: Restaurants that have the most creative Indian theme across the interior decor, ambience, menus & all design elements of the business. Restaurant looking to nominate for this category must be influenced by a specific concept from start to finish. BEST AMBIENCE: Restaurants that provide an ambience which is a cut above the rest and have created a unique atmosphere with it’s interior decor, entertainment & lighting. BEST SERVICE: Restaurants that provide an exceptional & consistent customer service within business hours.
SPICE OUT: Awards nominations et all
Indian Executive Club is set to announce the opening of nominations for Spice Out 2 people’s choice awards on the 15th of June. At this gala awards night, IEC will be catering to a vast area of Melbourne from the CBD, to the south-east, west & Northern suburbs at the Werribee racecourse on the 15th of August. PEOPLE’S CHOICE AWARDS: We encourage all restaurant owners to nominate for the awards as each category winner will be chosen based on the maximum number of votes from customers. IEC has put in place a stringent online voting process for which all details will be released next week! Please note: Online voting is set to open on the 4th of July.
Welcome to our new member: Advent consulting
Advent functions as Structural Engineering consultants providing high quality, value added Structural Engineering and Project Management Services on Residential, Commercial, Institutional, Industrial and Infrastructure projects. Promoted by a multifunctional team with international experience in Australia, Asia-Pacific, Africa and the Middle-East, Advent consulting are committed to deliver sustainable, innovative solutions providing commercial advantages to their clients. Through a knowledge-driven collaborative approach and by adopting state of the art design and drafting tools, Advent creates and delivers safe and efficient designs that meet all clients’ requirements. It is commitment to quality and excellence that ensures consistent delivery of the best possible outcomes. Advent is headquartered in Sydney & also had a presence in Mulgrave (Melbourne). They provide consultancy services to all states in Australia and New Zealand. Additionally, Advent works with trusted collaborators providing professional services in the Middle-East and Asia-Pacific. http://adventconsulting.com.au
SPICE OUT 2: A VIP AFFAIR
A spectacular extravaganza is what one should expect at Spice out 2. A colourful culinary explosion that is set to go off on the 15th of August at the Werribee Race Course at the closing of Day 1 at the South Asian Food Festival. With many entrepreneurs from the hospitality sector expected to take part in the two-day food festival, the corporate event will be an exclusive opportunity for entrepreneurs to network during the festival hours. ‘Spice Out’ is the Indian Executive Club’s (IEC) annual publication targeting the hospitality sector and is celebrated at this 5 hour Corporate event. The event will deliver a VIP atmosphere from start to finish all guests play witness to the day’s food festival finale and the beginning of a new platform for awards – Recognition towards the cream of entrepreneurs from the hospitality sector at Spice Out 2. Last year, the title was launched by world-renowned Chef Sanjeev Kapoor at a grand event attended by over three hundred guests. Continuing with the tradition of hosting unique corporate events, IEC is preparing for high end partners to make the event worthwhile for participants. The two festivals – South Asian Food Festival(15th August) and International Food Festival (16th August) – is an occasion that promises to bring numerous food lovers from across Victoria to Wyndham area. The 2 day fiesta organised by Festivals of South Asia Inc is partnering with many local community organisations like OFBJP and Western Gymkhana. In March earlier this year, FOSAI organised a Holi Fest which drew around 18,000 participants. The event has local artistes performing, spice markets and food workshops. This is the first time an Indian Food Festival is being organised in Australia. If you would like to become an event partner contact Natasha Doraiswamy Vice Chairperson firstname.lastname@example.org For all ticket bookings & enquiries email@example.com
NRIs ARE AN UNDER-EXPLOITED POWER
By Alys Francis Subrahmanyam Jaishankar lauds the power of non-resident Indians and says government will focus more attention on themA more modernised India, a more industrial India, a more urbanised India would create new demands which would give our relationship [with other nations] that economic heft in which we have lagged behind — foreign secretary Subrahmanyam JaishankarIndia’s new foreign secretary Subrahmanyam Jaishankar has used his first public address to laud the power of NRIs, promising the government would focus more attention on them as an “underexploited” segment in coming years. “Clearly both in terms of bonding and in terms of their alibility to further the relationship [India has with other countries] I think they are a huge factor, I think to some extent, an underexploited factor,” Jaishankar told an audience of foreign policy experts and officials at the Vivekananda International Foundation in New Delhi 16 March. “That is certainly one aspect that’s going to get more attention from us.” Jaishankar, 60, was thrown into the role of foreign secretary after a surprise late night announcement by the government on 28 January– it came just 72 hours before his career as a diplomat was due to end, according to local media. The 1977 batch IFS officer was India’s Ambassador to the United States, and reportedly played a key role during Prime Minister Narendra Modi’s high-octane visit in September last year, as well as US President Barack Obama’s historic trip to watch the Republic Day parade in Delhi in January this year. Modi’s US trip was significant for NRIs globally as it was the first foreign visit that saw him engage with Indian expats, in a sell-out extravaganza at Madison Square Garden in New York. The Prime Minister followed it up with an even bigger NRI event crowd-wise at Sydney’s Allphones Arena in November 2014. The PM called on NRIs to buy into his ambitious development plans and, “come make in India”, promising to cut red-tape and easier visas.The talk has led to some concrete changes too, such as a one-time visa being made to replace the Person of Indian Origin and Overseas Citizenship of India schemes. As India’s top diplomat for foreign relations, Jaishankar is be pivotal in fulfilling Modi’s goal of leveraging the wealth and talents of NRIs around the world. In a diplomatic career spanning more than three decades, he previously served as India’s Ambassador to China, High Commissioner to Singapore, Ambassador to Czech Republic, and First Secretary to the Indian Peace Keeping Force in Sri Lanka. Speaking with surprising candour at Vivekananda, Jaishankar said India’s leaders were striving to transform the nation into a leading power. “How do you change India from a balancing power to a leading power?” he asked. “If you reflect on that goal, changing to a leader power from a balancing power, I think you see a lot of implications”, Jaishankar said India had entered a “new era” when it came to business and attracting foreign investment. “Much is going to depend on how we promote in India the climate of ease of doing business,” he said. At the same time he shut down the idea that foreign investors would get special treatment, saying: “I think when Prime Minister [Modi] went to the United States that was one issue on which he was very clear, which was that if the overall business climate improved in India, there was no special requirement to address the needs of the foreign investor in a separate differentiated manner.” “The big issue for us really is how do u make the ‘make in India’ program successful and there’s the clear calculation that a more modernised India, a more industrial India, a more urbanised India would create new demands which would give our relationship [with other nations] that economic heft in which we have lagged behind,”
A PLUNGE INTO THE SMALL BUSINESS SECTOR
Dev and Moitrraye bought their franchise in Tarneit Gardens through AA Brokers and they are extremely happy with the advice and decision they have receivedDevraj and Moitraye Barthakur moved from Western Australia to Victoria last year looking for better prospects and opportunities. The couple and their one-year-old daughter moved to Melbourne to understand a more vibrant and multi-cultural market. They were determined to take a plunge into the small business sector. The duo loved a challenge.With saved up cash, Dev and Moitrate flew down to Melbourne and stayed in hotels for over four months to better understand the market they intend to work in. Researching about the type of business Dev and Moitraye would want to establish, they were finally convinced that a franchise model is a safe bet, especially when they are new in a town and they want to make that profit sooner.Dev met with Ahmet Ali from AA Brokers at the Franchise and Busines Expo in Melbourne last August. “Ahmet is like a guide and adviser. He gave me the right advise and guided me through the whole process. He gave me the pros and cons and I was convinced that the best option for me was a franchise,” said Dev. Ahmet Ali runs AA Brokers and is based out of Docklands. AA Business Brokers is a respected professional firm specialising in the sale of businesses and franchises throughout Melbourne. They deal with Commercial and Residential properties in the Melbourne Metropolitan area. With a great lot of experience working in the market Ahmet could advise Dev on buying the right franchise. “Ahmet is extremely skilled in handling your fears and aspirations and giving you that push you need.”Dev bought a Ferguson Plarre Bakehouse in Tarneit Gardens. “Tarneit is dramatically changing every year. More and more people are moving to this area and it’s getting really busy. It’s only in the last few months that Dev bought the Ferguson Franhise and it’s already showing signs of fast growth. “I’m extremely delighted to have bought this franchise. Ahmet was right. The sales are growing steadly. Although we had two rough months in the beginning because of summer, it’s changed quite a lot in Autumn. The business has grown extensively and I’m pleased to be a part of this chain. ”There are over 66 Franchises run by Ferguson Plarre Bakehouse. The one in Tarneit is just opposite the Woolworths. If you visit Ferguson over the weekend at the Gardens, you can meet Dev to have your favourite coffee, meat pies or banana bread. “ People are crazy about our pies. We have regulars and they get upset if we ever run out of our pies,” Dev suggested. “Our cakes are pretty popular too.”
Tasveer, a new facet to photographs!
“Tasveer is a unique photo booth experience where a ‘mini studio’ helps you capture those amazing moments in endless possible ways!” said Gagan Singh, entrepreneur and owner, Tasveer Photobooth. This Indian business owner & passionate enterprenuer aspires to give the Photo Booth experience a unique facet to say the least. Having begun it’s journey with a single goal in mind, Tasveer provides it’s many guests with an exhilarating photo booth adventure. For all that enter the Tasveer Photo Booth, this translates into a fully customisable experience, coupled with social media presence and professional customer service. Tasveer is an innovative and technologically forward business striving to bring it’s customers the latest photo booth enhancements. These booths are not only Australian made with DSLR cameras but also come with fast dye-sublimation printing which will ensure superior photo quality. Our youthful yet mature outlook ensures that Tasveer accommodates any type of event, ranging from weddings, engagements, birthdays, parties, corporate events, opening nights, school balls, hens nights, festivals and even a photo shoot Tasveer can do it all! The Photo Booth offer three different booths and packages with customisable extras including props and personalised photostrips to suit your event. Each of our booths even comes with an innovative social media kiosk that will have guests sharing unlimited happy snaps with friends, fans and followers instantly. The Indian Executive Club recommends Tasveer to all of our members & associates to obtain a custom quote for your next event. www.tasveer.com.au www.flickr.com/photos/tasveerpb/ www.youtube.com/tasveerpb
“Growing A Great Business” series
Indian Executive Club is reserving spots for business owners across Melbourne to avail the opportunity to register for the “Growing A Great Business” series. Pitcher Partners has a proud history of supporting entrepreneurial Indian businesses.In 2015, as a nominee for the Pitcher Partner Indian Executive Club Awards 2015, we would like to invite you to join us for an exclusive workshop series conducted by Business Consulting Partner Dr Richard Shrapnel, PhD. Details Date: Monday 1 June 2015 (8:00 AM – 9:30 AM) Monday 15 June 2015 (9:00 AM – 12:00 PM) Wednesday 22 July 2015 (3:30 PM – 6:30 PM) Wednesday 19 August 2015 (3:30 PM – 6:30 PM) Location: Pitcher Partners, Level 19, 15 William Street, Melbourne 3000 RSVP: Please RSVP with any dietary requirements by 27 May 2015 to Tushar Warrier Email: firstname.lastname@example.org or (03) 8612 9330
RECRUITMENT LIKE NEVER BEFORE
BY Alys Francis What do wine and recruitment have in common? Most people would say nothing. Rohit Gupta not only saw the similarities, he founded a business based on them. RG Recruitment is turning the tables in the Australian hiring industry, from a model focused on employers to one looking at candidates as “the main ingredient”. “This industry is revolving around employers and them finding the right candidate,” Gupta said. “But what about candidates and what role or training is right for them to develop their career? No one seems to look at that.” Gupta is setting about building a ‘strong’ pool of candidates to tempt employers. Which, funnily enough, turns out to be not unlike making that unforgettable red. “The slower the process is, the stronger and better the outcome,” he explained. “It’s like aging a wine.” But even more revolutionary in an industry where employers are used to paying exorbitant recruitment fees based of annual salary packages – RG Recruitment charges a single fixed fee for every candidate hired. “Our fees aren’t based on percentage of the annual salary of the employee – so whether we look for the senior most position or the entry-level employee our fees are fixed,” Gupta said. “That way we know we always work at our best without being affected by the commission we might earn.” Aside from building a strong pool of candidates “with diverse backgrounds,” Gupta is aiming to grow a pool of job listings. This way both the employer and the candidate have the ability to choose, he explained, “rather than just listing a job and waiting for the candidate to apply”. “Once I have the pool ready then I’ll concentrate on ‘reverse marketing’ these strong candidates to potential employers.” At RG Recruitment, Gupta has made it so that employers aren’t favoured simply because “they are paying the fees”. The aim instead is focused on finding the right candidate for the job and vice-versa. With past experience working across hospitality, banking, education and travel at senior levels, Gupta said he knows the ins and outs of recruitment from multiple perspectives. “I have been involved in recruitment of staff and more importantly developing capacity of staff through training and professional development courses,” Gupta said. “I understand the recruitment process not only from employers perspective but also from the candidates perspective and hence can make the match perfect. “I also run professional development programs for employers to enhance productivity of their current staff and at the same time advise candidates to take on specialized courses to find right jobs.” It’s always difficult being the first trying to swim against the tide, and Gupta realises this, saying he is well aware the focus in recruitment today is firmly on the employer. “However, it’s only a matter of time before employers and candidates realize the benefits of this unique process and jump on the bandwagon,” he said. http://www.rgrecruitment.com.au