Corporate India facing challenge to find right talent: Report
New Delhi: Indian employers have trouble finding the right candidate for the right job and this trend is likely to intensify in the next three years, says HR service provider Randstad.
According to Randstad India's global Workmonitor Survey 2012, Indian employers have trouble finding highly qualified people and this trend is set to continue for the next three years, as the economy is showing signs of reforms.
"Corporate India is facing challenges to find the right talent and there is no denial about it. With the economy showing signs of growth, coupled with proactive reforms, the situation will accentuate further," Randstad India Managing Director and CEO E Balaji said.
The quarterly review that tracks jobseekers confidence and provides a comprehensive understanding of job market, shows that 65 percent respondents predict a challenge to find highly qualified people in their respective organisations, much higher than the world average of 48 percent.
In addition, amongst all the countries surveyed, India has the highest employee mobility index of 142.
This is in line with the findings that emerged in all the previous nine quarterly surveys conducted since first quarter of 2010.
This consistent trend over nine surveys confirms that the war for talent continues to be a major challenge for organisations in India, the report said.
Hong Kong and Malaysia follow India with indices of 137 and 135, respectively. The mobility index is least in Luxemburg, Belgium and Germany, indicating least employee churn, while the index for the US and UK is 104, implying moderate employee churn.
"If businesses have to shape their world of work with the right talent, they have to strengthen their Training and Development function. It is a good development to note that Indian businesses are working on this aspect as our survey shows," Balaji added.
As per the survey, about 75 percent of the respondents agreed that their organisation invests additionally for their training/ education.
Moreover, about 77 percent of surveyed respondents said that their organisation offers sufficient career opportunities.
The survey further said in India, more than half of employees (55 percent) are overqualified and one-third are under-qualified for their current jobs.