INTRODUCTION
The current scenario in the IT sector-
India has the largest pool of manpower, second only to the US.
According to a study conducted by the National Association of Software and Services Companies (NASSCOM)-quantity of skilled knowledge workers in India seems to be a non-issue, and it would be so atleast for another couple of years.
The arithmetic out of 1.22lakh engineering graduates qualifying every year in India, about 73,000 are software engineers from IITs and other RECs. Thus, around 73,000 fresh software engineers are expected to be available annually. Total demand for software professionals during the next couple of years is estimated at 1.40 lakh. Against this, India is expected to have a pool of 1.46 lakh software engineers. Besides, quite a few Indian universities have started courses leading to Masters in computer Applications and there are private Training Institutes which offer high level software engineering courses.
According to an AIMA survey, 60% of the IT Companies have a written job description of all levels of employees. The rest 40% either have a partly written job description or they donot have anything written at all making it difficult for both the employee and the employer.
Most CEOs site lack of skilled professionals as one of the major hindrances to growth in the Indian Software Industry. Reputed software companies might get people at the base level but getting somebody with an experience of more than 4-6 yrs is a problem. The problem of retention was more prevalent in the telecom, IT and the Services sector than manufacturing and traditional sector.
When asked about employee retention, the majority among HR professionals of IT felt that it was all about retaining good people in the company and creating such situations for the non-performing employees that they quit on their own. It was felt that employee retention was a collective responsibility of the HR department, top management and individual departments in an ascending order with the HR Department having the maximum and individual department having minimum accountability.
Data shows that in companies with more than 1000 employees, the HR Department was strong whereas in mid-sized companies, the individual department was responsible along with the top management.
Large companies with growth rate higher than 10% did not face serious retention problems, but large companies with lower growth rates had acute problems in retaining their employees. In all industry segments, the employee attrition rates at the junior level were on the higher side compared to that at the top management level.
Studied over the last two years, retention levels have either increased or remained same due to better compensation, healthy competitive environment, higher profitability of the company, and good working conditions. But the case is not so with the IT sector, where the key motivator is the lure of U.S market.
The current scenario in the IT sector-
India has the largest pool of manpower, second only to the US.
According to a study conducted by the National Association of Software and Services Companies (NASSCOM)-quantity of skilled knowledge workers in India seems to be a non-issue, and it would be so atleast for another couple of years.
The arithmetic out of 1.22lakh engineering graduates qualifying every year in India, about 73,000 are software engineers from IITs and other RECs. Thus, around 73,000 fresh software engineers are expected to be available annually. Total demand for software professionals during the next couple of years is estimated at 1.40 lakh. Against this, India is expected to have a pool of 1.46 lakh software engineers. Besides, quite a few Indian universities have started courses leading to Masters in computer Applications and there are private Training Institutes which offer high level software engineering courses.
According to an AIMA survey, 60% of the IT Companies have a written job description of all levels of employees. The rest 40% either have a partly written job description or they donot have anything written at all making it difficult for both the employee and the employer.
Most CEOs site lack of skilled professionals as one of the major hindrances to growth in the Indian Software Industry. Reputed software companies might get people at the base level but getting somebody with an experience of more than 4-6 yrs is a problem. The problem of retention was more prevalent in the telecom, IT and the Services sector than manufacturing and traditional sector.
When asked about employee retention, the majority among HR professionals of IT felt that it was all about retaining good people in the company and creating such situations for the non-performing employees that they quit on their own. It was felt that employee retention was a collective responsibility of the HR department, top management and individual departments in an ascending order with the HR Department having the maximum and individual department having minimum accountability.
Data shows that in companies with more than 1000 employees, the HR Department was strong whereas in mid-sized companies, the individual department was responsible along with the top management.
Large companies with growth rate higher than 10% did not face serious retention problems, but large companies with lower growth rates had acute problems in retaining their employees. In all industry segments, the employee attrition rates at the junior level were on the higher side compared to that at the top management level.
Studied over the last two years, retention levels have either increased or remained same due to better compensation, healthy competitive environment, higher profitability of the company, and good working conditions. But the case is not so with the IT sector, where the key motivator is the lure of U.S market.
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