The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.
March - 2012 - issue > HR Speak
Indian IT industry is still handicapped talentwise
Vishwas Nair
The industry is at a very interesting phase currently. What is interesting is that, while we are seeing a slowdown in the global economies, it does not seem to be impacting India. This was not the case a few years ago. The moment there was a rain in the U.S., temperatures would go freezing in India.
India’s growth story seems to be on the upside today. We are not seeing a galloping growth that was there a few years ago, but, I am positive about the rate at which the Indian IT industry is going. This is definitely good news from an HR point of view. Though the numbers are slightly lower than what we expected at the beginning of the year, we have not encountered much in terms of salary cuts, pink slips, bonuses cut and so on. Hence, the impact of the global economical slow down has not been impacting us largely. How did this translate into ongoing management of people?
Firstly, salaries are settling down to a level which are getting realistic. One of the fears a lot of us in the HR industry have is that if India is going to out price itself in terms of our increase in salaries in a macro level. Things are settling down and this is good news for the larger IT industry. As far as attrition is concerned, it also seems to be settling down.
Companies now are focusing on development which is very important. Development could be Managerial development, Leadership development or getting focused on training of employees.
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