India to Constitute 20 Percent of Global Workforce by 2020
By siliconindia   |   Wednesday, 16 November 2011, 23:32 IST   |    1 Comments
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Speaking to Financial Chronicle, Chairman and CEO of the $22 billion Manpower group, Jeffrey Joerrs said "India is where the world went to, for labour arbitrage and talent. The challenge now is how do you build on that reputation over the next five to seven years to move from entry level salaries to higher salaries." According to him, the next level of talent that can be found in India does not meet the skill set demand of major global corporations in the way the current crop has. "Outcomes at the 17,000 colleges and universities are what need to be looked into; as at present they are viewed with some degree of suspicion," added Joerrs. Further in the summit Chaiman of NIIT Rajendra S Pawar discussed the need to provide money to 500 million learners to help them acquire the skills that is needed to bag a job. "When this is done innovation in business models will happen to cater to this opportunity," said Rajendra. Expressing the expectation that e-learning will revolutionize the education scenario including the cost for the masses, participants at the summit spoke about the dynamic nature of the state governments who are investing in infrastructure creation and are providing migrant labour closer to their dwellings, hence converting rural migration in search of employment. Member of the Planning Commission Arun Maira, opined that the new manufacturing policy developed by the central government is anticipated to create 100 million jobs. Pointing out that the country's manufacturing sector is struggling to retain talent at present, Baba N Kalyani, Chairman and Managing Director at Bharat Forge said "The average attrition rate in industry is in double digit percentage. This throws the spotlight on what skill development is required to create the talent pool that we need."

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