Conventional wisdom dictates that businesses will need to innovate like mad to stay competitive in a global economy. And who better to drive innovation than a talented workforce?
India’s business leaders have aimed a laser-like focus on workforce development, rapidly making the country a global R&D hub in several industries, despite the fact that it has a much smaller pool of highly educated graduates than the United States.
A few of India’s best practices:
De-emphasize résumés. Hire for aptitude. Indian companies assume they’ll bridge the skills gaps with training, so they often recruit from second- and third-tier colleges.
Train from scratch. Indian companies invest substantial time (up to four months) and money in training new employees. Even senior executives participate. Example: Technical leaders spend one to two weeks a year delivering classroom training at the Indian division of Cadence Design Systems.
Pinpoint employees’ weak areas annually and train them more. Example: Satyam Computer Services’ training requirement is 150 hours per year.
Deepen your pool. Most companies offer extensive management training, while others, such as Adobe and Genpact, have set policies to cultivate managers internally.
— Adapted from “What the U.S. Can Learn from Indian R&D,” Vivek Wadhwa, BusinessWeek.
Like what you've read? ...Republish it and share great business tips!
Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...
We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.
The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.
" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/8293/learning-a-few-things-from-indias-model "