HCL Corporation on Thursday entered the skilling business by launching HCL TalentCare. Facilities in Chennai, Manesar, and Hyderabad will train graduates in short modules to make them employable. The company is targeting employment in sectors such as information technology, banking and financial services, and health care. It aims to affect 20,000 people over three years.
Apart from HCL Technologies and HCL Infosystems, the group operates in the education space through Shiv Nadar Universities and Vidya Gyan Schools. The group entered the health care space last year through HCL Avitas.
Shiv Nadar, the founder and chairman of HCL, said more than half of India’s population is under 25, with 65 per cent under 35 and around 12 million are expected to join the workforce every year.
HCL TalentCare’s revenue model will entail charging the students as well as the companies. HCL did not reveal details of the investment that will go into the firm. Roshni Nadar, chief executive and executive director of HCL, says the group’s strategy has been to focus on spaces that would be catalysts for economic growth. “After spending four decades in technology, we diversified into health care last year,” she added.
The company has also aligning itself with the larger skill development agenda in the country by partnering with the National Skill Development Corporation (NSDC) to design and deliver solutions that address the skill development needs of India Inc. Meanwhile, it is already planning to open a fourth facility in North India.
Premkumar S, Chief Mentor of HCL TalentCare said that there is a ‘talent-divide’ that has been created as more than 75% graduates today are not job-ready. India Inc. is witnessing high attrition rates of 20% and above because of expectation mismatch at the 0-3 year experience band that is hurting enterprises very badly, he added.
“Corporate India is keen to hire “role ready” talent to meet its growing demand for skilled professionals,” Premkumar added saying that HCL TalentCare will try to visit campuses after the placement season is over and target students who have not managed to secure jobs. “Because, they are the ones who need us the most,” he said.