Wednesday, December 06, 2006

India Inc finds talent shortage for senior management positions?

A report in the New York Times earlier this week laments about a talent shortage that is becoming acute at the high end.

For a moment, it all seemed very familiar to me. Did I blog about the similar topics about 6 weeks ago ?

Interesting to read as it does give quite a few quotes and examples, the gist is as follows:

- India Inc’s top executives are being wooed from all directions as its economy booms.
-Industries that find top talent in short supply - engineering, technology, drug and manufacturing companies , retailing, financial services.
-Compensation levels in India have risen strikingly in the last couple of years-faster than the annual general market increases of 16 to 17 percent.
-many search specialists report that only one in three vacant top-level slots can be filled. Even the time taken to fill senior positions has doubled to 120 days.

The solution?

- the net is being cast for more than just overseas executives of Indian origin — a category referred to as boomerang professionals
- Americans and Europeans with an Indian connection who want to come to India “because they feel this is where all the action is,”! In a sign of a maturing job market, companies in software, semiconductors, telecommunications, airlines and hospitality are looking at foreign talent.
-Many companies, meanwhile, are already betting on potential and are hiring rising talent.

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