85% Indian firms still face talent crunch: Thornton

As much as 85 per cent of Indian companies are facing a severe shortage of skilled manpower, a survey by global consultancy firm Grant Thornton says.

According to Grant Thornton's India Market Attrition and Retention Study (IMARS) domestic organisations are still facing a significant shortage of "the right talent". Around 85 per cent of organisations participating in the study expressed that they have been facing a severe shortage of talent in the market.
    
"There may be a drop in the overall rate of attrition in the market owing to the current economic conditions, (but) identifying and retaining the desired talent is still very vital," Grant Thornton India Partner Strategic Services Vinamra Shastri said.
    
"The work environment, during a downturn, ought not to become such that the key talent starts drifting away from the organisation," Shastri added.
    
Rather, Grant Thornton India Client Service Director Mandeep Singh said the ongoing economic scenario should be seen as an opportunity to strengthen employer brand equity.
    
"This is the time to create a stronger employer brand and build a talent-base that would be an edge over the competition when the economy rebounds," Singh added.