“There has been a six-fold increase in direct employment. It has grown from 4.30 lakh (in 2001) to 23,00,000 (in 2010). The number of direct employment in the IT and BPO sectors alone is estimated to be 10 million,” President Som Mittal told reporters here.
He said the contribution of the private sector in this regard has grown from 5 per cent in 2001 to 15 per cent in 2005-06. He said the coming decade would see the indirect employment of 20 million in the IT and BPO sector. “Women employees alone will contribute to five million,” he said. He hailed good practices being adopted by companies, some of which include insisting on relieving letters (from previous companies), campus hiring during the eighth semester, supporting reference checks and mandatory background checks.
The industry is adopting a set of practices that would promote ethical hiring and help the industry address short-term challenges of attrition and talent management, he said.
He said the coming decade would be witness to a ‘multi-cultural’ workforce with 15-20 per cent of foreign origin, and adoption of global policies and processes by firms.
On the impact of social networking sites, he said it would become “part and parcel” of any organisation. “Earlier, there was email being sent by top officials. But now that has changed. Anyone can use (an) email. Similarly, organisations need to look at it (social networking sites) on a positive side,” he said. On competition from China, Mittal said it should be viewed as an opportunity. “From the customer’s point of view, China brings in right talent,” said Cognizant Managing Director R Chandrasekaran.
“We have to look at China as a cost-stability nation,” he said, adding that the software business to India would increase from 60 million to 225 million and “some part of it would come from China”.