‘Human Resource Practices and Remuneration Benchmarking’ a survey on human resources practices conducted jointly by ACMA the apex body of the Auto Component Industry in India and Deloitte India, aimed at gaining strategic insights into the critical human capital challenges, HR practices and remuneration trends in the auto component industry. The study states that in order to be competitive, the industry will not only need a perspective on the best HR Practices but will also need to benchmark its own HR systems & policies against the global best.
The study found that while talent retention and attraction continue to be a challenge across all management levels, it is relatively steep at the entry, junior and middle managerial levels. High turnover for lateral hires at the junior and middle management levels is also a cause of concern for the industry. There is a critical need to enhance employee skills in line with the changing business environment in order to have the flexibility of a "near ready" talent pool.
Source: The Economic Times