The Indian Retail Industry is one of the fastest growing sectors - domestically as well as internationally. US-based global management consulting firm AT Kearney in its 10th annual Global Retail Development Index (GRDI) 2011 has ranked India as the fourth most lucrative investment destination for retail. The size of India's retail market is expected to rise from about US$ 500 billion in 2011 to about US$ 2,500 billion in 2026. The sector, basically divided into organized and unorganized segments, has different formats for different purposes and customers. Major organized retail formats include Hypermarkets/ Supermarkets, Departmental Stores, Convenience Stores, Shopping malls, E-retailer, Specialty Stores.
Organized retailing is manpower intensive and is the second largest employer in India. The current scenario indicates that there will be a very high demand for manpower to match the scope of plans of various retailers in the near future. Organized retailing is also seen generating a great deal of indirect employment such as security, electrical and mechanical maintenance, property management services, parking, etc.
Talent Challenges
The sector is currently facing a talent crunch because of non availability of the talent required on such a large scale and a lack of training facility for the same. Though India has a vast pool of qualified human resources with the required education and motivation to undertake challenging tasks, there is a greater need for middle and senior level management. Management professionals from industries such as FMCG, telecom, BPO, and hospitality are increasingly being seen as suitable sectors to draw talent from. The sector is facing competency gaps in various key areas like supply chain management, vendor development and customer relations management.
We help our clients in the identification, assessment and recruitment of talented professionals with brilliant records. Our in-depth experience across sectors spans all functional areas, from top to middle level positions. ABC’s experience with tier-1 companies ensures that essential competencies are readily available. Our dynamic database of candidates helps us proactively identify senior and top talent.
Hospitality
Industry Snapshot
India is one of the fastest-growing travel and tourism markets in the world. The Indian tourism economy has been deemed as the second-most rapidly increasing (8.8%) tourism economy in the world, by World Travel and Tourism. The country was ranked as the 11th most attractive tourist destination in the Asia-Pacific region by the World Economic Forum in 2010. The number of tourists arriving in the country grew from 466.8 million in 2006 to 710.6 million in 2010, at a compound annual growth rate (CAGR) of 11.03 per cent. The increase in the number of tourists can be attributed to factors such as India's robust economic growth and government initiatives. The industry is expected to add 50,000 hotel rooms over the next couple of years, two-thirds of which would be rooms meant for budget hotels.
Several international players like InterContinental, Marriott have entered the market, thus marking a landmark change in what otherwise is a highly fragmented sector with unorganized players. In addition to forming alliances with local hotel chains or real estate players, international players have started using the inorganic route to strengthen their presence in the country.
Talent Challenges
Employee-expectation management and talent retention are two critical challenges for the industry in 2010. In the current scenario, employees are looking for high salary hikes and performance bonuses. There is an upsurge in the construction of new properties, leading to increase in demand for the existing talent pool. Retention in this scenario will become critical.
We have a highly professional team of consultants with core industry background that helps us collaborate with senior executives of organisations across all functions in addressing their hiring needs.