The fast developing economy has created a dearth of quality human resource, with companies searching for talent in unexplored areas. They are now going in for housewives, ex-army men, sophomores and physically challenged people to cope with the situation,
"India has a huge resource of untapped talent. The companies need to adopt a model that helps in harnessing this resource," said Shrinivasan Iyer. CEO, MPower Business Facilitator Ltd while speaking at IBSA-ICON07 conference on "GlobaliSation: Opportunities and Challenges" at Sardar Patel Institute of Public Administration (SPIPA).
"The companies must develop a system to bring these people in the line of production. They must be provided special privileges not as part of corporate responsibility but because of the need of the hour."
At the "Harnessing Human Resource" session speakers discussed the major challenges and shortcomings of HR management by Indian companies.
The faulty and monotonous human resource policy and induction system was held responsible for the high attrition difficulties being faced by companies.
"The earlier attempts by companies to hunt for professionals among their competitors have failed as the new age employees are now changing jobs at a faster pace. The focus should now be on retaining the employee," said professor TV Rao at the conference.
He added that the employees of a company are major asset even if they don't show up on the balance sheet.
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