Indian firms may face mass talent exodus

By SiliconIndia   |   Wednesday, 28 October 2009, 02:41 Hrs   |    13 Comments
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Indian firms may face mass talent exodus
New Delhi: With the revival of the economy, Indian firms may once again face talent exodus, if they do not take measures to attract top talent and retain employees now. According to a study by global online employment solution provider Monster.com, a dramatic difference exists in perception of employers and workers about the impact of current downturn.

The study says that the trend may potentially lead to employers facing mass talent drains as the labor market begins to turn. The research report prepared in association with U.S. think-tank Human Capital Institute (HCI) found employers are vastly overrating the morale of their employees with 84 percent of surveyed indicating a belief that their workforce was content with simply having a job. In contrast, only 58 percent of workers feel in the same way as their employers, the report stated.

"While this environment has created a prime opportunity to acquire top talent and increase selective hiring, it is also a time for employers to prepare their workforces strategically for moving forward in a redefined, healthier economy," said Jesse Harriott, Senior Vice-President and Chief Knowledge Officer at Monster.com.

"However, to do that, they need to better understand the mindset of their employees. As the economy rebounds, those workplaces that have not invested in their people could face a mass exodus of employees, potentially crippling the business," Harriott added.

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