Voicing concerns about talent crunch, senior executives across many Asian countries say companies will be focusing more on retaining people this year, according to a survey.
The findings are part of survey conducted by global executive search firm BTI Consultants.
Asian countries especially India and China are seeing high growth and against this backdrop, companies would be focusing on "talent retention than talent acquisition", BTI Consultants India's Consulting Director & Head James Agrawal said.
Attrition levels in India are estimated at 12 to 18% and companies are looking more at "employee engagement" policies to retain good talent.
Firms across sectors are looking to carefully manage their workforce through training and career development programmes, the report said.
"Scarcity of senior level talent is a constraint in multinational firms," it added.
Agrawal noted that hiring would be selective in terms of skilled workforce in 2011 across verticals. "India Inc is expected to expand headcount to capitalise on growth opportunities," he said.
As per the findings, there is high level of confidence this year for the "telecom, IT, tourism, hospitality, medical, healthcare and finance sectors".
The survey covered executives from India, China, Malaysia, Thailand, South Korea, Singapore and Indonesia. The respondents were from various industries including IT, manufacturing, consumer electronics and healthcare.
