India's Talent Shortage

India, with its growing economy and young workforce (the median age of India's 422 million workers is 25), is projected to become the world's third-largest economy by 2035. In point, 34 Indian companies were already listed in the Forbes Global 2000 ranking in 2008. However, India is facing a sizable shortage of talented workers that will threaten its own growth and the success of multinational companies reliant on young Indian talent. Here's why:

• India's literacy rate is less than 60% (the rate in the U.S. is 99% by comparison)
  
• Less than 12% of India's workforce has a college degree
• 50% of India's working women will opt out of the workforce by the age of 30
  
• Good benefits and high salaries rank as top priorities for young Indians, resulting in highly mercenary behavior toward employment opportunities

In recent years, employers in India have seen attrition rates as high as 70% in some industries. The situation poses a significant challenge to executives in India and abroad tasked with finding and keeping top global talent and magnifies the need for strategic workforce planning. Are you prepared?

For more information on this research and for insight into the recruitment and management challenges of a global workforce, join us for our May 28 online seminar, "Millennials in a Global Context: Workforce Planning for an International Talent Marketplace".

May 28 Seminar: Millennials in a Global Context

Information about generational differences in America abounds, but today's talent marketplace is global. As our workforce ages, U.S. and multinational companies alike will be faced with the challenge of recruiting and retaining younger employees with very different attitudes toward work and life. Understanding how American Millennials (born 1981-2000) compare with their international peers will have a profound impact on the way employers plan for and manage their talent in the next decade.

Based on exclusive research in 17 countries from Kairos Future, this 1-hour webinar will present critical findings about American Millennials in a global context and offer workforce planning and talent management strategies to create a competitive advantage for the future. Learning outcomes include:

• Education and competence level comparisons of U.S. Millennials with their international counterparts
  
• Contrasts in career orientation and entrepreneurialism among young workers around the world
  
• National differences in attitudes toward job security and willingness to work abroad
  
• Strategic considerations for workforce planning professionals
  
• Talent management priorities to balance current economic realities with future labor needs

* This webinar is approved for 1 hour of PHR/SPHR strategic management recertification credit.

Click here to register