GLOBAL FINANCIAL CRISIS AND INDIAN JOB MARKET -------------------------------------------------------------------
BY Ashwin Nallari
As
a Management Consultant , I feel the present global financial crisis
has many varied reasons and few among them have been observed by me and
I present the same to share it on the web.Kindly read and give your
feedback ;[email protected]
Post 1991,The Internet boom
had begun on on a big way and at the same time The Indian economy was
opened to the world.This had resulted in creation of many jobs for the
growing middle class Indian and in way the boom in the economy had
begun by mid 90's.For the first time Microsoft opened its HQ outside
USA and that too in India to en cash its quality manpower resources and
optimize its revenue to its share holders. Example ; Mr.Jack a fresher
from US would be recruited at "X" amt of annual package , the option
left with MS was to find an alternative to Jack , they found it in an
Indian[IITian/IIM to be more specific] and it gave tremendous results
and they could hire this Indian at say 50% of the salary given to Jack
.This Indian in order to add value to MS started outsourcing mini
projects to India to Tier I cities and he got the talent he wanted and
that too at 1/4 the cost and better quality.Seeing this boom ,Many
BPO's, Call centers and [needless to add dotcom bust was the major
indicator in this regard] new age NRI's started their ventures offshore
and were delivering results to certain extent.Now the real "dhanda"
[Business in Hindi] begins,There was a major report by international
consultants like Price Waters, Mckinsey etc stating that there will be
shortage of workforce and recruiters need to speed up their work.Here
Lots of engineering colleges,MCA, MBA colleges started mushrooming in
every nook and corner of the country and especially in Andhra Pradesh ,
every tom dick and harry owning an acre of land started engineering
colleges without proper infrastructure , quality teaching faculty and
the got recognitions through back door methods from AICTE [hub of
corruption].At the other end Many IT majors and minors in order to cash
"jack vs indian" syndrome started recruiting 90% of the junk that was
emanating from these colleges and faking their Cv's , experience
certificates, degrees and here a place called "AMEERPET" takes the cake
in doing these outsourced fake projects , experience certificates very
professionally .Hence these "quick gun murugans" studying in these
DHANDA colleges opted for "AMERICA VIA AMEERPET route".These very same
IT majors/minors giving targets to their HR heads for recruiting
candidates and fake the HEAD COUNTS and bag all International /US
projects. US taking the cue from Microsoft thought All the companies
were having quality workforce ,were fooled by these companies and
handed over important critical projects with deadlines to these
companies thereby saving costs and optimizing the shareholders
revenue.The Recruiters and HR leads in major companies colluded to
create A FAKE EMPLOYEE WORKFORCE , which resulted in short term gain
but the results w are seeing now and will see in the future.These 3rd
class Engg, MBA, MCA guys n girls without any knowledge of basic
communication, project management,presentation skills were given best
of the jobs with very FAT SALARIES,and US travel which is a dream for
most Indians and 98% of telugus .The reason , my son is in states , my
daughter is in states and hence FAT DOWRIES, Hence Junk Corporate
educational institutions at 10+2 level where the students study
mathematics by rote'[ imagine and this resulted in showing 90-95% marks
and getting seats in DHANDA colleges.But these very students lack the
right attitude,communication skills , presentation skills, fake
projects, degrees and experience certificates and want FAT SALARIES to
enhance their dowry value.
When these AMERICA VIA AMEERPET types
could not complete the projects on time and resulted in huge time lag
and this had cyclical effect on credit recovery system in major
financial institutions.Time is money in the REAL TIME AUTOMATED
SOLUTIONS WORLD which we and many BIG TIME COMPANIES are.... READ MORE
BY Ashwin Nallari
As
a Management Consultant , I feel the present global financial crisis
has many varied reasons and few among them have been observed by me and
I present the same to share it on the web.Kindly read and give your
feedback ;[email protected]
Post 1991,The Internet boom
had begun on on a big way and at the same time The Indian economy was
opened to the world.This had resulted in creation of many jobs for the
growing middle class Indian and in way the boom in the economy had
begun by mid 90's.For the first time Microsoft opened its HQ outside
USA and that too in India to en cash its quality manpower resources and
optimize its revenue to its share holders. Example ; Mr.Jack a fresher
from US would be recruited at "X" amt of annual package , the option
left with MS was to find an alternative to Jack , they found it in an
Indian[IITian/IIM to be more specific] and it gave tremendous results
and they could hire this Indian at say 50% of the salary given to Jack
.This Indian in order to add value to MS started outsourcing mini
projects to India to Tier I cities and he got the talent he wanted and
that too at 1/4 the cost and better quality.Seeing this boom ,Many
BPO's, Call centers and [needless to add dotcom bust was the major
indicator in this regard] new age NRI's started their ventures offshore
and were delivering results to certain extent.Now the real "dhanda"
[Business in Hindi] begins,There was a major report by international
consultants like Price Waters, Mckinsey etc stating that there will be
shortage of workforce and recruiters need to speed up their work.Here
Lots of engineering colleges,MCA, MBA colleges started mushrooming in
every nook and corner of the country and especially in Andhra Pradesh ,
every tom dick and harry owning an acre
colleges without proper infrastructure , quality teaching faculty and
the got recognitions through back door methods from AICTE [hub of
corruption].At the other end Many IT majors and minors in order to cash
"jack vs indian" syndrome started recruiting 90% of the junk that was
emanating from these colleges and faking their Cv's , experience
certificates, degrees and here a place called "AMEERPET" takes the cake
in doing these outsourced fake projects , experience certificates very
professionally .Hence these "quick gun murugans" studying in these
DHANDA colleges opted for "AMERICA VIA AMEERPET route".These very same
IT majors/minors giving targets to their HR heads for recruiting
candidates and fake the HEAD COUNTS and bag all International /US
projects. US taking the cue from Microsoft thought All the companies
were having quality workforce ,were fooled by these companies and
handed over important critical projects with deadlines to these
companies thereby saving costs and optimizing the shareholders
revenue.The Recruiters and HR leads in major companies colluded to
create A FAKE EMPLOYEE WORKFORCE , which resulted in short term gain
but the results w are seeing now and will see in the future.These 3rd
class Engg, MBA, MCA guys n girls without any knowledge of basic
communication, project management,presentation skills were given best
of the jobs with very FAT SALARIES,and US travel which is a dream for
most Indians and 98% of telugus .The reason , my son is in states , my
daughter is in states and hence FAT DOWRIES, Hence Junk Corporate
educational institutions at 10+2 level where the students study
mathematics by rote'[ imagine and this resulted in showing 90-95% marks
and getting seats in DHANDA colleges.But these very students lack the
right attitude,communication skills , presentation skills, fake
projects, degrees and experience certificates and want FAT SALARIES to
enhance their dowry value.
When these AMERICA VIA AMEERPET types
could not complete the projects on time and resulted in huge time lag
and this had cyclical effect on credit recovery system in major
financial institutions.Time is money in the REAL TIME AUTOMATED
SOLUTIONS WORLD which we and many BIG TIME COMPANIES are.... READ MORE