An article in the Times of India speaks of a recent ASSOCHAM ( Associated Chambers of Commerce & Industry in India) study . It says that 100,000 jobs will be created in the Information Technology and Financial Services sector in the next few months. Some of the major hirers in the IT sector- TCS with 30,000; Accenture with 28,000 and Wipro with 17,500 people planned in 2008-09.
Checking the Assocham site shows that the same study says that financial services firms are looking to add another 65,000 people with the consultancies like Deloitte and KPMG planning to add another 13,000 people.
These are big numbers which prompt a valid question. Where will we get these people? In my view, while economic growth has opened up many avenues for employment, the standards across the board have somewhat fallen. Sometimes I am shocked to see the low caliber of people appointed to fairly high level jobs. Possibly they are the best around- out of a bad lot- or the general standards have dipped.
In a recent interaction in a bank, it was evident that the manager involved had little idea of what was going on. He spoke poor English ( which perhaps can be overlooked) and seemed to be totally dependent on the staff to explain procedures to him. He asked a hundred doubts about almost everything. In the course of the conversation, it turned out that he had been with the bank for 15 years. The question whether he had been in hiding for more than 14 of them came to my mind.
As business organisations aim to get such large numbers aboard, only two things can happen. Either the standards will fall or they will have to make huge investments in time and effort to train these new entrants. For the sake of our industry, I do hope the latter course will be adopted- at least by the more progressive and professional organisations.
You can subscribe to the A-Step-A-Day series using RSS at https://bprao.wordpress.com/category/a-step-a-day/feed
This is Post No: 251 of the “A Step A Day” series : To provide perspective and provoke thought to facilitate self-development across a wide spectrum of issues- big and small- crucial for executive success.