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HR in India
India is now a world player in the international market. We are a country of more than a billion people and a crucial part of any major organization’s travel plans. With a GDP growth of over 9%, India is the success story the world over. And the fact that Indian companies are moving into the West means that all’s pretty sound in India Inc. The concerns come with the growth. The major concerns are the people in any growing organization. The labor market is tight. Salaries have been impacted this year, but think of the hikes people had gained in the last two years. And it is in such a scenario, that human resource management is most critical. So critical, that a lack of it can cause serious injury to business. Indian HR management needs to buck up to the rising challenges which employees are facing. An upgrade to global practices might be the first solution. There are some who feel that India’s greatest boon is its exploding population. That out of more that a billion people, the number of literate and qualified population can only increase. However, only 2 per cent of our population right now can speak English fluently. The education system is woefully short of western standards. What we are competent in, is IT education. Thus, the whole India-is-synonymous-with-IT story. But, ironically, The IIMs and the IITs are producing extremely competent, literate, business and tech savvy individuals - the best of the best. Staring salaries are still top notch. But the average engineering college or management institute is woefully short of quality. Also, a great IT education system is just not enough. The country still needs good automobile engineers, agriculturists and petrochemical engineers, to name a few. Where does human resource management fit in? The answer is simple: 1. Select the right individuals. The right individual need not come from the ‘same background’. The right individual need not come from the ‘right college’. Companies need to look out of the box. There is quality available everywhere. Substantial investment in training could be the key. After all, it is well known that workers can be trained to perform better. HR can look within the company as well, to identify someone who fits the job. People who are bored of their present role, perhaps? 2. Keep them happy: India faces one of the highest attrition rates in the world. Attrition is a terrible cost to any company. Employees are as important as the product or service. Employees make the product and offer the service. They need to be kept satisfied. Competitive compensation, innovative incentives and ESOPs are ways to keep employees satisfied. Nothing works better than a workplace where an employee receives recognition, reward and respect. 3. Innovation: Though salaries are the most important factor in choosing a job, they form a very small part of the overall job satisfaction. A workplace can be made ideal, primarily through innovative techniques. More and more Tech Parks are coming up with better ideas and can be used as examples in other locations. Jogging parks, cafeterias, libraries, competitions – all small ways to make workplaces fun, to be in. Keen interest needs to be shown towards tracking careers. Internal job movements, training (both external and internal) are proven methods of increasing productivity and ensuring development. Indian HR needs to go past the recruiting and hiring mode. Innovation needs to be blended in. The economy is sound, the situation, lucrative. Quality, however, is something that everyone, at every level has to strive for.
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