With India becoming a destination of choice due to its cost competitiveness, hiring by multinational companies is at an all-time high. There is a literal talent war for engineers and technical professionals. A study by management consultancy Zinnov states that at a time when companies across sectors are cautious on hiring and salary hikes, R&D centres are hiring talent at a premium and going in for salary hikes to retain them. So much so, that companies are disregarding the subsequent rise in operating cost. Hiring has touched its peak in FY11, when recruitment went up by 28% over last year. It is expected to grow by 15% this fiscal. The study shows more than two lakh engineers are currently employed in Indian R&D centres, with the manpower base growing at an average of 9% annually.
In fact Samsung employs 5,500 for research and plans to hire another 1,100 techies next year. And, it wants to grow its headcount at a similar pace year on year. Car maker Maruti Suzuki has plans to increase its R&D manpower by over 20% to more than 1,300 in 2011-12 as it looks to become the research hub for its parent Suzuki. Ranbaxy, the Indian arm of Japanese drug major Daiichi Sankyo, too plans to grow its generic medicine research unit in India comprising 1,300 employees. Japanese electronic giant, Panasonic, invested in its first R&D centre in India this year. The company is facing a talent scarcity and plans to work with Indian universities and companies to collaborate as well as to ease this problem. Panasonic plans to make its Indian research a hub for emerging markets. AMD has an R&D team of 1,100 in India, accounting for close to 10% of its total global workforce. The company hired close to 300 people this year and plans to recruit another 150 in 2012.
Source: The Economic Times