Challenge

It is difficult to get certain special digitally or sustainability-related skills in manufacturing. Also, the experts are finding it difficult to get diploma holders. the attrition in the technology services companies is still higher at 20 to 25 per cent and it is not easy keep to keep inducting a huge number of people to sustain at the same place

Indian corporates are witnessing workforce attrition and hence, hiring skilled people as a challenge for the future. Also, an uncertainty is seen over export demand a constraint to adding capacity by corporates.

As per the senior industry officials at the SBI Economic Conclave, high attrition is being faced by them, they said. Already, the private financial sector is seeing a high turnover in front-line jobs along with many other private banks which reported 20 to 25 per cent churn.

It is difficult to get certain special digitally or sustainability-related skills in manufacturing. Also, the experts are finding it difficult to get diploma holders.

Today the scenario is, for any project the contractors are hiring 30 per cent more workers as there exist an attrition risk, according to industry experts.

Also, the attrition in the technology services companies is still higher at 20 to 25 per cent and it is not easy keep to keep inducting a huge number of people to sustain at the same place.

Adding to this, there was a premium on talent in technology had a premium, which the experts think became unsustainable as it resulted in an individual to become more important in the organisation.

The biggest opportunity and risk according to a rating agency in various industries is that of vocational skilling of people.