Tt Roundtable Share 25 Nov


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Tt Roundtable Share 25 Nov

  1. 1. Changing Talent Landscape in IndiaThink Talent Roundtable Series 25 November 2011 Gurgaon Think Talent Services Pvt Ltd Sole India Licensee NEWS® Coaching
  2. 2. Contents 1 Talent Landscape: India (Macro Trends) 2 Workforce Overview 3 Talent challenge in India 4 Key trends associated with the emerging talent pool Think Talent Services Confidential 2
  3. 3. Why these roundtable sessions?• To disseminate ideas that will help to address and synthesize critical issues in the areas of leadership development -specifically applicable and relevant to the Indian context• Create a platform to bring together a group of like- minded and progressive corporate practitioners on a regular basis and learn from their perspectives -as well share it with the larger corporate fraternity Think Talent Services Confidential 3
  4. 4. India Talent Requirements – Macro Trends  Indian economy has recovered quickly from the Global economic crisis and is expected to develop at 8.2 percent in 2011-12  India’s GDP is projected to continue to grow at a brisk pace of 8.8 per cent in 2011-12  Agriculture grew at 6.6 percent in 2010-11. Likely to nurture at 3.0 percent in 2011-12  Industry grew at 7.9 percent in 2010-11. Likely to nurture at 7.1 percent in 2011-12  Services grew at 9.4 percent in 2010-11. Likely to nurture at 10.0 percent in 2011-12.  The rapid expansion of the industry is expected to produce a large demand for trained manpower, especially given that many of the expanding sectors are labor- intensiveSource : : India’s Economic advisory council (Outlook for the year 2011-12) Think Talent Services Confidential 4
  5. 5. Growth Rate in India and Other EmergingEconomies 20.0 15.0 10.0 2005Growth Rate 2006 5.0 2007 2008 2009 0.0 2010 India China Brazil Russian Indonesia South Africa OECD Federation -5.0 -10.0 Countries Think Talent Services Confidential 5
  6. 6. Services Sector –Driver of Indian Economy Services Industry %Labour Force %Contribution to GDP Agriculture 0 10 20 30 40 50 60 Think Talent Services Confidential 6
  7. 7. Workforce overview : Two largest democracies India USA  Predominately young workforce  Large numbers are entering the professional  Average age of the workforce is older, mirroring the workforce at a time of rapid economic expansion age demographics of the population. that provides increased opportunity for the well qualified and well connected.  Changes in American society have brought an unprecedented social diversity into the workforce,  Access to professional education, socialization, not only immigrants from all over the world, but entry and career advancement is still segments of the society previously excluded or disproportionately concentrated among social under-represented in the professions, especially in groups that have traditionally dominated the managerial and leadership roles. professional fields.  Corporate cultures, employment policies and  Educational system doesn’t provide sufficient networks of influence have been forced to change. trained talent for the job market, particularly the IT sector that is the new economy’s engine of growth.  The principal challenge for American employers today lies less in finding diverse talent, but in  Special pressures on employers in India around developing it and creating an environment that finding, competing for, holding and cultivating the supports social cohesion amid the diversity. skilled employees they need.Source: A study done by Dr. Karine Schomer,CMCT President and India Practice Leader Think Talent Services Confidential 7
  8. 8. The talent challenge in India Gap between Education system and Industry requirements : Executives in India, China and Brazil all point to “the gap between what universities provide and what industries need” as the number one problem. Retaining Talent : Of all the emerging-market nations, India expects to have the toughest time when it comes to recruiting and retaining talent. Fully 57% of Indian respondents feel that it will be “significantly harder” to recruit and retain talent, compared with Brazil, where only 31% of respondents believe this to be the case. Higher Salary Expectation: Salary expectations are rising in India, as job candidates call the shots. 61% of India-based executives say that inability to meet salary expectations would be most likely to hamper efforts to recruit talented employees.Source: A report from the Economist Intelligence Unit Think Talent Services Confidential 8
  9. 9. Key trends associated with the emergingtalent pool in India  Influence of social trends - Family support structures are weakening –traditional sources of financial and emotional support are vanishing, Many parents live their own dreams through their children  Influence of cultural exchanges on employee mindset - Globalization has exposed Indian workforce to concepts such as power distance. Example :- Indian employees exposed to a culture of lower power distance in the US would expect a similar work culture in India  Consumerist Lifestyle - Traditionally India has been a high savings rate country, this is changing to lower savings rates rapidly—credit culture among the youth is the norm  Work Habits - Long and sometimes unnatural working hours at IT and BPO industry lead to stress, burn-out and health related issues  Generation Gaps at Work - Key differentiators are in the manager role expectation are information provider vs decision support, Coach/ Mentor vs supervisor, Emotional anchor ? Counselor ? Friend ? Think Talent Services Confidential 9
  10. 10. Our Coordinates ILD Trade Centre, # 619, 6th Floor, Sohna Road, Sector - 47 Gurgaon 122 002 India Tel: (+91 124) 4055375