With the world coming out of the recession/slowdown, Corporate leaders should better prepare themselves for a large scale exodus of Talent. Here is why...
The employment scenario has begun to see some significant changes recently with improvements in the hiring numbers of some of the largest and most prominent Indian corporates. A great deal of this hiring seems to be happening in the entry and the mid-level executives indicating a strong and reviving economy. Strangely enough, compensation and benefit offerings have returned to the pre-crisis level ( and has substantially improved in certain industry sectors). So, has the worst passed us by? - Perhaps "Yes" by looking at the rising employment figures. During my interactions with several potential candidates for my clients, most of them stated as to how they were contemplating changing their Jobs or shifting their careers altogether after the crisis is past - and this feeling is more so with those organisations who had resorted to wide scale layoffs and retrenchment during the crisis.
This would mean that organisations that had made the economic slowdown an excuse to exploit employees, now stand the risk of losing their most critical resources - People. It is perhaps time that these companies gear up for the mass exodus of key talent from across the board and one could expect the whole jigsaw of the job market rearrange itself as the good times evolve.
However the truely robust and visionary companies, which have stood their grounds (especially on core values and ideolgies) during the bad times would come out unscathed and stronger than before. It would be interesting to watch which Indian companies possess true metal and which ones were on the " also ran " category.
