With huge competition and infinite opportunities for talented individuals, whole market scenario is changing. With this some of the companies need to rethink about their hiring strategy, apart from moving with new challenges and opportunities in same verticals or newer ones.
Let me start with an anonymous example, which is one of the top software company. They always hire from IITs and top Engineering colleges in India. In 2011, the salary gap between this company and it's competitors increased by many fold. Due to constant growth, company is not a position to match those compensations and at the same time, they need to retain their employees, as domain knowledge & experience is very important for delivering good quality solutions. Growth is at constant pace and more compromise on quality can prove as a big disaster.
At the same time folks from IIT like colleges always look for new challenges and have some goals to achieve in life. These are mainly fast pace folks. With current scenario, most of the folks have started thinking about start-ups.
With all this, some of the companies who have been hiring people form top colleges are seeing a deep decline on talent pool. some part of it is going to competitors who are in good shape to pay much more. And others are focused on their ideas for start-ups. In my opinion, trend about going for Start-Ups will take a pace and soon we shall see lot of new technology or e-commerce coming in market.
How such companies should handle such situations. This is a big question for top leaders of these companies and a big pain for managers, who are seeing lot of attrition and need to deliver same thing during end of a month or quarter.
Should they also start looking at middle-tier colleges? How to pace up with increasing salaries, when revenue increase is almost constant, year over year? Should they tighten the processes to reduce overall risk and look at fresh talent available? etc.
This was one of the random thought came to my mind and thought of putting it somewhere. I will find out more details around the same and share soon...
Let me start with an anonymous example, which is one of the top software company. They always hire from IITs and top Engineering colleges in India. In 2011, the salary gap between this company and it's competitors increased by many fold. Due to constant growth, company is not a position to match those compensations and at the same time, they need to retain their employees, as domain knowledge & experience is very important for delivering good quality solutions. Growth is at constant pace and more compromise on quality can prove as a big disaster.
At the same time folks from IIT like colleges always look for new challenges and have some goals to achieve in life. These are mainly fast pace folks. With current scenario, most of the folks have started thinking about start-ups.
With all this, some of the companies who have been hiring people form top colleges are seeing a deep decline on talent pool. some part of it is going to competitors who are in good shape to pay much more. And others are focused on their ideas for start-ups. In my opinion, trend about going for Start-Ups will take a pace and soon we shall see lot of new technology or e-commerce coming in market.
How such companies should handle such situations. This is a big question for top leaders of these companies and a big pain for managers, who are seeing lot of attrition and need to deliver same thing during end of a month or quarter.
Should they also start looking at middle-tier colleges? How to pace up with increasing salaries, when revenue increase is almost constant, year over year? Should they tighten the processes to reduce overall risk and look at fresh talent available? etc.
This was one of the random thought came to my mind and thought of putting it somewhere. I will find out more details around the same and share soon...
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