News »Browse Articles »
Indian firms seek best talents for small packages
0
Indian firms seek best talents for small packages
New Delhi: Many Indian companies seem to be making use of these tough times to upgrade their talents by easily finding experienced and talented professionals without offering beyond the present pay package and sometimes below the existing packages. As many of the firms are not in a position to hire in bulk, they become more selective and put more cautious while hiring, reported The Economic Times.
Various department heads and other top professionals are currently replaced by more experienced hands. For instance, a large real estate company in Delhi roped in a new CFO from a two-wheeler major at almost the same salary to replace the incumbent financial head as it felt the new man had an experience of managing a bigger organization. The company sidelined the incumbent CFO by asking him to report to the new hire. And now the incumbent is looking out for another job.
Similarly, a Mumbai based hospitality company has contacted a major recruiting firm to find out a new HR head as the company is not happy with the performance of the current head. However, the company is not willing to pay more for the new one.
Believing that talents are just available in the market, many companies are on the process of upgrading their talents. According to a Delhi-based executive search firm, 10 percent of their clients are looking for such upgrades, while Executive Access, another search firm says as many as 30 percent of its clients have mandated it for such people. "Professionals having the experience of handling crisis situations are in big demand now. If it was about skills in managing growth in a booming economy, it will be about tackling a slowing market where firms would have their eyes now," said, K Sudarshan, Managing Partner, EMA Partners International.
Unlike the past, companies now believe that it is the time to benchmark talent against industry standards as there is a large availability of people in the job market. People who can manage slowdown and its impact better are in great demand these days. A Mumbai based retail broking and lending firm is in a search for a new candidate who is more adept at rightsizing and handling industrial relations, to replace its HR Director.
Apart from the economic down turn, the return of talents from overseas also has contributed to diversifying the offerings in the job market. "It`s not only people within India, but expats too joining the race for opportunities that has made the supply of people diverse," says Executive Access MD Ronesh Puri.
Source:
http://www.siliconindia.com/shownews/Indian_firms_seek_best_talents_for_small_pa
Various department heads and other top professionals are currently replaced by more experienced hands. For instance, a large real estate company in Delhi roped in a new CFO from a two-wheeler major at almost the same salary to replace the incumbent financial head as it felt the new man had an experience of managing a bigger organization. The company sidelined the incumbent CFO by asking him to report to the new hire. And now the incumbent is looking out for another job.
Similarly, a Mumbai based hospitality company has contacted a major recruiting firm to find out a new HR head as the company is not happy with the performance of the current head. However, the company is not willing to pay more for the new one.
Believing that talents are just available in the market, many companies are on the process of upgrading their talents. According to a Delhi-based executive search firm, 10 percent of their clients are looking for such upgrades, while Executive Access, another search firm says as many as 30 percent of its clients have mandated it for such people. "Professionals having the experience of handling crisis situations are in big demand now. If it was about skills in managing growth in a booming economy, it will be about tackling a slowing market where firms would have their eyes now," said, K Sudarshan, Managing Partner, EMA Partners International.
Unlike the past, companies now believe that it is the time to benchmark talent against industry standards as there is a large availability of people in the job market. People who can manage slowdown and its impact better are in great demand these days. A Mumbai based retail broking and lending firm is in a search for a new candidate who is more adept at rightsizing and handling industrial relations, to replace its HR Director.
Apart from the economic down turn, the return of talents from overseas also has contributed to diversifying the offerings in the job market. "It`s not only people within India, but expats too joining the race for opportunities that has made the supply of people diverse," says Executive Access MD Ronesh Puri.
Source:
http://www.siliconindia.com/shownews/Indian_firms_seek_best_talents_for_small_pa
