NRIs- The Non Returning Indians are trending towards ‘Now Returning Indians’

An infographic published by The Economics Times, titled “The Family Affair” has reflected a paradox which states how Family owned enterprises in India contribute to the business growth but fail to attract external talent into their organizations. Is this the beginning of an era of demise in ‘The Big Fat Indian Family Enterprises.’

The team at Options Executive Search has spotted this trend and shared a some takeaways for recruiters. There has been an increase in ‘returning Indians’ and the cause for this is setting forth a new path. Findings state that more and more Indians are either planning to come back or are on their way back to India to become entrepreneurs. This time it is not about coming back to settle for a top management job, but to set up a shop in their home country. To back these findings Venture capitalists and investors those who are spinning the enterprise story acknowledge this revised trend of NRIs.

Recruitment and Now Returning Indians

Internal referral systems and recruitment of employees within the same family worked well for these traditional enterprises to withhold corporate integrity, but it did not prove to be a sustainable act. This has probably shifted the mindset of one-third of family run businesses to pass ownership to next generation non-family management employees to run the relay in the corporate world.

 

While there are some obvious reasons for such a shift, such as family and ownership conflicts, bureaucratic work culture and limited access to private capital the much amusing reason in inability to attract and retain smart talent to steer their business engines.

Young Indian talent who otherwise would seek for employment in the family dominant enterprises in India have started to choose a self-made path of entrepreneurship. The irony is that the Indian Private Equity markets are welcoming this trend versus a family drive business models with chunky consortium behind them.

Take away for recruiters

For those recruiters who have focused all these years in placing Indian talent back in India in high positions may now have to start recruiting talent for these aspiring entrepreneurs. Recruiters have to gear towards the big ‘One billion entrepreneur’ vision not only for those who want start something on their own but also those who want lead and spearhead MNCs established on the terrain of this subcontinent.

Share your thoughts on how would you respond or shift to accommodate this trend for the new generation.

Reference:

http://articles.economictimes.indiatimes.com/2013-11-22/news/44365754_1_india-sherpalo-ventures-venture-funding/2

Prepare the pulse of 2014 with what Executives felt in 2013

“How is your career and job this year?” has been the trigger to get a sense of what executive managers actually feel about their jobs. We gathered some interesting trends and forecasts for the year 2013 which spelt out the pulse of career planning and intent of top managers towards career succession. Over 1300 executives across India have contributed to these findings. 

Measuring the emotional quotient

In March 2013, career seekers who were looking for a change in job shared their pulse of for the year ahead. 34% of these senior level managers felt that “their jobs could have been better” and only 7% of them were “extremely happy with their jobs.” 43% of them have also expressed that they would tend to walk out of their current organizations if they do not have promising compensation and benefits to them. Ability to grow and work satisfaction were other two prime motivators for them quit their jobs. When it came to making a decision to stick on with the current job, respondents weighed work satisfaction, work and family culture almost equally as a reason to stay back.

Career building and succession planning

For 2013, respondents defined career growth as ‘moving to other roles/functions/positions within an organization’ and shied away from including pay hike in this new definition. This year also saw a shift in methods used to enhance one’s career within their organization. Managers started to focus on achieving KRAs to promote their career. 

Over half of these managers of also provided track record of being self-managers in climbing up the ladder. They have used little external assistance and secondary information to boost their career plans. These managers believe that people need to spend considerable amount of time and energy to plan their road ahead in building their career. However the gloomy side to this is that alumni networks have remained dormant while these groups are filled with great potential to help their clan towards career growth.

65% of these respondents welcomed continuous professional development (CPD) in the form of resume updates, training and career counseling. This number can be justified to learn that over 70% of them were either shifting their jobs or were going move into a new job very soon.

Road Ahead

In 2013, executives wanted to have a strong presence on job sites like Naukri, Monster and Head Honchos and also were keen on networking with HR consultants. The surprise element that remains unanswered for this year is how these managers are adopting the trending social tools to be hired and identified by top recruiters.

We would love to hear your opinion and predictions for the year 2014 and trends you may want to site out of your experience. To be a part of this year's survey tweet @optionsindia with a line '#2014HRsurvey by Options Executive Search'.