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India top talent destination for World Inc: Experts
New Delhi: With the baby-boomer population in the US reaching retirement and the average age increasing in most of the western countries, global corporates are looking at India to get the right talent, experts say.
Companies based in nations like the US, France and Germany believe that the south Asian country has a talent pool matching the global standards, they said.
"India is topmost on the list of preferred destinations for countries facing an internal talent crunch situation," global management consultancy firm Boston Consulting Group (BCG) partner and director James V Abraham told PTI.
Chinese workforce which comes next in the list is mostly preferred for China-specific operations of the western companies as opposed to people in India, who are being tapped for functioning in any country, he added.
"The Indian workforce is witnessing a 100 year peak, the talent pool is vast, skilled up to international standards and the most sought after by the Western Countries," international accounting and consultancy major KPMG's Melbourne-based partner Bernard Salt said. He was in the city to attend a conference.
Although regions like South East Asia and Middle East have a workforce to offer in terms of numbers, rigid social setups and lack of international quality in terms of technology brings in the 'India advantage', he added.
The US-based magazine BusinessWeek recently came out with a list of best American companies to launch a career and nine out of the top ten firms on the list have a major India exposure in terms of employee strength.
They've already outsourced the blue-collar work years ago. It is and will be a matter of time when they outsource the white-collar jobs in the US.
I do have a problem with this comment
"...for countries facing an internal talent crunch situation..." global management consultancy firm Boston Consulting Group (BCG) partner and director James V Abraham told PTI.
I'm curious to know what country this guy is from or what countries he's talking about that's facing a talent crunch because I really hope he's not talking about the US. There are still tons of able bodied college graduates here in the US.
The purpose of outsourcing white-collar US jobs to India or China is because of lower wages, not because of a talent crunch situation.
Actually, there is a severe talent crunch for the scientific and engineering fields. There just won't be enough American-born science and engineering majors graduating for all the companies that need them in a few years time. That's why there are so many Indian IT people at all the Silicon Valley companies around here, because there aren't enough good engineers to hire domestically anymore.