Saturday, January 06, 2007

Searching for talent

The Economic Times writes about the impending shortage of qualified talent in the retail industry. The three biggest challenges of the organized retail industry will be managing manpower, real estate and the supply chain, of which manpower looks like it will be the critical factor in determining the competitive edge in the long term. With the boom in the retail industry to continue for the next five years, at an expected compounded average growth rate (CAGR) of 30-35%, finding the right middle and senior management will become increasingly difficult.

Of the total employment generated by the retail industry, estimated to be 20 lakhs, of which 500,000-600,000 will be in the organized sector. Higher management executives are likely to be poached from industries such as FMCG, banking and telecom.

Many companies are looking overseas for talent. Reliance in currently hiring approximately 100 senior managers from overseas, around 50-60 of which who have already joined the company and have 15-20 years of experience with major players such as Wal-Mart, Best Buy, Tesco, ASDA and Kroger. The Aditya Birla Group is also looking fro 30-40 persons from overseas to build its leadership team.

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