Top Level to Let
By Sharad Matade
The sheer number of “Y” genes has been a key strength of India over the recent years. The country has indeed been producing the best brains across sectors, for consumption within as well as across the globe. However, the story has changed now. It is reckoned that India is likely to face a massive shortage of talent even to sustain the growth momentum of the current five per cent GDP.
“As per a recent survey, 64 per cent of employers have reported finding it difficult to fill jobs in India. Strategic workforce planning that mirrors business growth over a 3-5 year period and succession planning for all critical roles would be of crucial importance in managing this reality,” says Pali Tripathi, Co-Lead, Organization, Change and Leadership Practice at Strategy & (formerly Booz & Co), in an interview with Polymers &Tyre Asia.
“If these two are in place, the organisation can actively plan for shortages – some times to the point of ‘excess’ talent as opposed to ‘just in time talent,” adds Tripathi.
To tackle this problematic eventuality of shortage of talent at an industry level as well, there needs to be more association with universities and creation of corporate learning centres to create relevant learning and skills, suggests Tripathi.
Shortage at top management level is likely to hound corporate India because of a lack of sufficient number of professionals in leadership position pipelines A recent analysis by Strategy& has forecasts that by 2017, 15 to 18 per cent of the leadership positions in India’s top 500 companies will remain unfilled or filled incompetently.
(Full Text in PTA Feb/March issue)