The Nasscom report that came out recently predicts skill shortages. But I think, we are already facing that in our daily episodes and the report is a trifle late. After all, people are what makes businesses tick and if you dont have the right people, you are doomed.
If you ask any project manager in the IT industry, he/she will tell you that a large amount of their time (bandwidth the official word) is used up on managing resource attritions and thereby transitions. I believe therefore the cost of attrition is becoming higher with every passing day.
The reason is that it is just so difficult to find a 'good resource', the good not referring in any way to their technical skillsets but to the attitude that people carry. Today, I was discussing with a colleague about how a project manager can really chill out if he has a bunch of good guys in his/her team.
But sadly, that is not reality. In reality, the team composition is usually similar to a normal distribution, with 1 or 2 really excellent people, at least 1 really mediocre person and the rest of them just average. So, if you are unlucky, you may not get the 1 good guy also. Then, you can say goodbye to the work/life balance everyone is talking about nowadays.
That is why I admire so much the gamble that Reliance takes. Here they are willing to spend 100 crore rupees on assembling the best possible team for their retail venture. They have got their fundamentals right. Mukesh Ambani knows that if he chooses the right people, he will just have to sit back and enjoy like a satisfied shareholder.
The faster IT companies realize this and do everything to bring down the attrition rates from the 20s, the faster they can save themselves a lot of trouble.....
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