Training people is a smart strategy for firms with low infrastructure
I wouldn't call it a jobless growth. We are hiring. The volume of hiring may vary over time
There is no stepping away from the fact that growth leads to employment. Given the nature of the business that we are in, we see growth in correlation with employment and revenues, and not just revenues. So, I won’t call it a jobless growth. We are hiring. Depending on attrition or similar factors, the volumes of hiring may vary over a period of time. Since we are a large organisation, it pretty much evens out over a larger period of time.
I see a correlation between value-added work and hiring. The Indian economy has changed from an agriculture-based economy to a service-based economy. This poses a challenge for the employers. I am not sure whether an orderly transition (from agriculture-based economy to manufacturing and then service) would have created a ready talent pool for the service industry. This industry needs different skill sets. We don’t have ready supplier skills available. There is a shortage of really skilled people who we can directly switch into jobs. We spend a lot of time and resources in bringing people up to speed and training them. In absence of infrastructure, the organisations have to do it. I think employers are looking at it as an opportunity. To me, it is a smart way of doing business because the other option is to go and hire people from other organisations. In the absence of a full-fledged infrastructure, it is incumbent on all of us as organisations to take care of our needs to build our own, as opposed to buy. It is a strategy that works.