Survey shows that Indian companies willing to source talent from foreign countries
A 2007 Global Survey of Business Executives by McKinsey has shown that China and India have a lot of jobs and they are willing to hire people from anywhere in the world! Specifically, the survey showed that almost half of the Indian companies surveyed were willing to higher staff from outside the country:
Respondents from India are also much likelier than they were three months ago—42 percent compared with 30 percent—to say that their new jobs will be in a different country from the corporate headquarters. This pattern may mirror the growing global footprint of many Indian companies…
The confidence that Indian executives have in their own economy remains unshaken from 2005 (a previous survey by Mckinsey). Back then the survey showed that Indian execs were very ‘upbeat about the effects of globalization on their businesses’ (more so than executives from other countries) and this confidence has remain unchanged in 2007. In fact, when it comes to hiring people for business expansion, the 2005 survey showed that the execs were not very confident of finding suitable talent…so the findings of the 2007 survey are not at all surprising:
Executives in developed countries of Asia are much more likely to say their company is planning to hire than they were only three months ago. And in India, executives seem to be looking to offshore some of their own operations, after years of benefiting from Western companies doing the same.
When asked ‘How do you see the size of your workforce change in the next six months,’ 81% of Indian executives in India believed that were going to be a lot of new jobs. The highest amongst all countries. Here are the figures for other major markets:
North America: 45%
And where do the execs think these new people will go? Well, most Indian and Chinese executives believe that expansion of existing businesses will create the new jobs.
Shortage of seats in good quality higher educational institutes in India
It has been known for some time now inspite of the increase in the number of higher educational institutes in India, they have not met the demand for seats. Millions of talented youngsters cannot get admission into institutes of their choice.
In order to improve this situation, the government is planning to allow 50% FDI (Foreign Direct Investment) in higher educational institutions. This could well be one of the answers to the shortage of seats…
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