The danger level of ‘talent-all-eroded’ is approaching at a very high pace in the IT and ITES sector. How will India meet the demand of employable IT professionals?

Take this…

“We will add 8000 workers in India this year, taking our total count in the country to 35,000. That will surpass 30,000 workers employed in Accenture’s US operations.” - William Green, CEO, Accenture

“Number of technology jobs to reach 1.7 million in India by year 2010.” - NASSCOM

India has an inexhaustible supply of top-flight engineers and IT specialists. Today, it is a known fact for one and all that the country is a day and night running factory of Software Professionals. Holding a whopping 44 per cent share of global offshore outsourcing market for software and back-office services, enjoying confidence of 95 countries outsourcing their work to her and with more than 82 per cent of American companies grading her as their first choice, India has undoubtedly become a near synonym to outsourcing.

Playing on with the number game and in fact mastering it —

• India boasts of having the biggest pool of IT brains with 1,20,000 professionals added to the industry every year.
• Almost 2.5 million graduates pass out of Indian colleges every year.
• India churns out more than 4,00,000 engineers per year.

India Vs China

While India is slowly and gradually reaching its limit of saturation in supplying technical and sagacious brains to the global companies, China has reasons enough to grab the market. India undoubtedly has a massive lead on China in the software off-shoring game. However, behind the scenes, the Chinese have already planted seeds that will eventually make them major players in the industry.

May be this is one of the reasons why Indian companies keep on grabbing outsourcing contracts so as to avoid the buyers and their jobs going away to other companies (read Countries). Though as compared to 25 per cent of engineers in India having basic skills for offshore IT jobs, only 10 per cent each of total engineering pass-outs from China and Russia bear them. The labour cost advantage may start playing a crucial role and take shape of a turning point in times to come.

With so many jobs flowing in the country, Indian outsourcing companies are compromising with the quality of workers being recruited. And if the scene remains the same for long, the software off-shoring market may eventually go off the Indian shore.

So is India ‘ready’ to take that…? Read the Entire Article at The Ground Report

Popularity: 33% [?]

Tags: HR Issues, Talent Management

Companies implementing a Best-in-Class Employee Performance Management (EPM) solution experienced revenue and income growth rates greater than average, and had lower levels of employee turnover, according to a new report from Aberdeen, a Harte-Hanks Company. The latest Human Capital Management (HCM) benchmark report from Aberdeen, titled “Enhancing Operational Results with Employee Performance Management,” also found that companies do not need to use EPM solutions to be considered Best-in-Class, but companies using a technology solution significantly outperformed their peers and exceeded Best-in-Class performance.

Survey results show that the firms enjoying Best-in-Class performance shared several common characteristics with respect to employee performance management. Best-in-Class companies: are more likely to provide tools to assist with the process of managing and developing employees, aggregate, summarize, and regularly report on results and measures, and monitor the performance of teams and work groups, as well as individuals.

This report is made available to the public, you can get a copy here

Source: CNN Money

Popularity: 40% [?]

Tags: Performance Management, Retention, Talent Management

Watson Wyatt Worldwide, a leading global consulting firm, announced the completion of its acquisition of WisdomNet, a Denver-based talent management solution and consulting firm.

The acquisition will help us meet our clients’ increasing need for talent management services – a demand likely to grow as labor markets continue to tighten,” said Paul Platten, global practice director of Watson Wyatt’s human capital group.

WisdomNet has built a reputation for innovative and appropriate solutions and an unparalleled level of expertise. Its software products include I-TMS™ for talent management and Workforce Impact™ for leading-edge workforce planning.

Source: Press Release

Popularity: 30% [?]

Tags: News, Talent Management

Top 4 Reasons why I feel Technology Companies are going to slow down and look at other avenues for growth…

• Rising wages prompt firm to pull out of India
• Indian Software Jobs Outsourced
• Rising Rupee Hits Software Industry
• Wages are at all time high

Hat tip: Jim Stroud

Popularity: 28% [?]

Tags: Money, News, Talent Management