. The Covid-19 pandemic has accelerated the digital transformation of enterprises, creating enormous opportunities for all organizations. Given the customercentricity of the tech industry in India, the demand environment is extremely positive, and many companies have announced aspirations to grow in double digits this fiscal year.
To deal with the talent issues, companies are adopting a multi pronged approach—step up fresh hiring so that the supply pool increases, enhance re-skilling programmes through online learning, deploy adjacent-talent skills for on-the-job learning, and, above all, offer employees a holistic employment experience, one that spans career development, learning and wellness.
- For India to retain its lead in the digital era, India needs to disrupt the traditional approach to talent development. The race to becoming and being seen as a talent hub is warming up across the world.
- For example, the UAE just announced plans to roll out green visas, expand eligibility for golden visas and attract top tech workers for the country to become the preferred investment hub for technology companies.
- Several other countries like the UK, US and Australia are rethinking efforts to attract high-skill talent, including fast-tracking visas for at-risk sectors and promoting visas for highly accomplished applicants.
- India’s biggest opportunity is developing digital talent for the future world. India is going to be the talent leaders of the world. Talent will be the biggest competitive advantage for India. Business will go where the talent is and they will base their investment decisions based on that.
Measures need to be taken
Focused Implementation of the National Education Policy: It is important to have a long-term focus and we need to inculcate the right attitudes. Continuous learning, skill credits, world-class academic innovation, experiential learning, faculty training, all need to focus on excellence and outcomes.
Build Alternate Talent Pools: We need to build digital capabilities in smaller towns, get more women to join the work-stream with hybrid work norms, revamp vocational education from industrial training institutes and polytechnics.
Incentivize Skilling: In the early days of the tech sector, tax incentives played a key role in building a global footprint of multinational corporations in India. We must now create schemes that incentivize skilling for corporates, not just for their own needs, but across the ecosystem.
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