Indian employers have trouble finding highly qualified people and this trend is set to continue for the next three years, reveals Randstad India’s latest global Workmonitor Survey 2012.
This is a quarterly review that tracks job seekers confidence and provides a comprehensive understanding of the job market sentiment and trends relating to the employment market across 32 countries.
E Balaji, MD & CEO, Randstad India says, “With the economy showing signs of growth, coupled with proactive reforms, the situation will accentuate further. 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.”
The survey shows that 65% of respondents predict a challenge to find highly qualified people in their organisations. This is much higher than the world average of 48%. And, 65% believe that this talent crunch will continue to intensify for their businesses over the next three years.
Also, 82% employees feel that their current job is a good match to their education or field of study. This is significantly higher in India than the rest of the world, where the average is a little over two-third.
From the survey results, it is evident that in India more employees follow their education with a job in a similar field as compared to the rest of the world.
The survey also reveals that, in India, more than half of the employees (55%) are overqualified and one third are under-qualified for their current jobs. Six out of ten employees see others working below their level of education. Up to 68% see many colleagues working above their education level (44% average).
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About 75% of the respondents agreed that their organisation invests additionally for their training/education.
Of this, majority (79%) in the age group of 25-34 said their organisation invests additionally for their training/education while a significantly lesser 51% in the age group of 55-64 said their organisation invests additionally for their training/education.
About 77% said their organisation offers sufficient career opportunities. By education, career opportunities are said to be more amongst those with low education (100%) and high education (78%) vis-a-vis those with moderate education (59%).
Amongst all the countries surveyed, India has the highest mobility index of 142. This is in-line with the findings that emerged in the previous nine quarterly surveys conducted since Q1 2010. While the finding per se is not new, its consistent trend over nine surveys confirms that the war for talent continues to be a major challenge for organisations in India.