India has manpower of 1.2 billion and it is ironic that still we suffer from dearth of talent? Only 10% of MBA graduates of the country are employable
17& of Engineering graduates are employable. The enormity of the challenge that India will face in year 2026 can be imagined when 64.8% of India’s population would be in the working age of 15-64 years.
Impact of rising demographics on employment
By 2020 out of 1.3 billion people in India we will have about 0.8 billion in the working age and that is surely something the world can look forward to.
Quality of workforce is more important than quantity. In fact having a lower head count of skilled manpower is much better than a manpower whose larger portion is unemployable.
India will heading for a skill gap of 75-80% across Industry sectors. There will be people but with skills that corporate do not require, and jobs for which the right fit is not available. The economic impact of this vicious cycle is something like powerhouse of educated yet frustrated youth who are directionless with no jobs in hand is unimaginable.
Matching the skill levels of the supply side and the demand side of Talent Supply Chain