According to 2010 “Talent Shortage Survey”, on an average, 31% of employers worldwide are unable to find native talent ideal for their vacancies. The problem, according to the survey, is not the lack of talent, but the lack of suitable talent. This ‘talent mismatch’ issue has become a global concern, and has compelled organizations to outsource ‘suitable’ talent from other countries. And when it comes to the need for outsourcing skilled workforce, by far, India tops the list.
For manpower outsourcing, India is the global favorite; for reasons more than one.
- Abundance of skilled workforce in India: The size of skilled workforce in India is almost 50 million (2010), and by 2020, it is expected to touch 150 million. In fact, India has among the largest numbers of technical personnel, besides twice the number of university graduates in USA; perhaps, due to the customary emphasis on high levels of education and qualification here.
- Competence: Recent reports indicate that Indian professionals are the world’s most ambitious, and have a high rate of engagement of 78%. This is directly reflective of their competence because it shows how capable they are of understanding the organization’s goals, and making major contributions towards them.
- Mobility: A major factor that makes Indian professionals among the most demanded and preferred for off-shore employment, is their ability to relocate (even for shorter durations). In fact, the Global Mobility Index rating of 141 (2010) for Indians, confirms that it is the most mobile workforce of the world.
- Adaptability and Flexibility: Perhaps, it is the rich traditions, regional diversity, and high emphasis on education that make Indians among the most versatile workforce in the world. One of the major contributors to its adaptability to foreign environments is its familiarity with and fluency in English, the universal language. This is because English is always either the medium of education, or a part of the syllabus in India.
- Cost Savings: A major chunk of expenses in all businesses is employee salaries. Outsourcing manpower from India is definitely an effective means of reducing costs. Even the most skilled Indian manpower can be recruited at highly competitive salaries.
- Sincerity and Dependability: Indians are among the most sincere, dependable and trustworthy professionals around the world. This may be due to the combination of their high level of education, strong cultural background and high aspirations.
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