An effective “Make in India” initiative for
the Indian industry is expected to create a globally competitive industry
serving both domestic and global markets. This implies an equivalent increase
in demand for a world-class skilled workforce and outsourcing. “Make in India” will
increasingly require organizations to further enable their HR functions for
identifying the capabilities required for business continuity and future growth
and also ensure attraction, retention and nurturing of talent.
The manufacturing sector is now seen as
competing for talent with other sectors such as IT/ITES, Service, etc. The
challenge of talent attraction, employ-ability and retention, for manufacturers is getting increasingly complex.
SMEs especially find it difficult to
attract top notch talent at all levels. The talent acquisition process in these
organizations does not enable hiring talent with right skills and behaviors.
Further, these organizations find it difficult to retain any high performing
talent. Some of the reasons contributing to this are:
• The
demand for qualified talent far outstrips what is available readily.
• Aspiration
of high performers to move up the value chain and look at wider and challenging opportunities with larger organizations/ OEMs.
• Limited
attractiveness of career with dealers and smaller vendors as the culture,
career
growth opportunities and work environment may not be most conducive.
Building HR process robustness, especially
with the respect to hiring, salary levels and career path creation to meet the
above challenges therefore requires increased attention.
Skill
development of the large talent pool is seen as the most
critical lever in delivering under the “Make in India” initiative.
However, the industry is faced with certain key challenges with respect to
skill development:
· Whether the available resource pool is industry
ready, and whether they have the requisite skills set to deliver on
manufacturing & R&D excellence in a VUCA environment?
·
Are there any new skills which have emerged
critical for the industry?
·
Are the current government & industry
initiatives sufficient?
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