Attrition is becoming a big worry for the fast-growing Indian employment market and could even have a snowballing effect on the country's vast talent pool, according to global HR group Randstad.
"For the Indian market, attrition is turning out to be a big worry... People are being offered high salaries and companies are taking each other's talent," Netherlands-based Randstad's Managing Director (Global Client Solutions), Margriet Koldijk, said.
India's job market has been witnessing double-digit attrition levels in many sectors, including IT, while salaries are also rising at a faster pace.
Randstad has a significant presence in the country and operates as Ma Foi Randstad. Koldijk noted that India is a booming market in terms of talent and many European companies look at the country for its highly-skilled workforce.
"Europe would be looking at India for talent, mainly in sectors such as IT and chemical engineering that need highly-skilled people," she added.
Koldijk pointed out that FMCG, IT and telecom would be among the sectors that are likely to see increased employment opportunities in the coming months.
Among the large RFPs (Request for Proposals) received from clients related to cross border movements in the R&D space, Randstad said, "80 per cent and more have made the provisions to hire R&D experts from India".
Regarding Randstad's plans for the Indian market, she said the company has "big (business) opportunity" and would look at increasing its market share.
