Notwithstanding concerns over skill shortage, Indian CEOs are more optimistic about talent availability and short-term growth prospects than their global peers, says a survey.
Management consultancy PwC’s survey found that Indian CEOs were less concerned about the availability of talent and were willing to invest in training and development.
“Indian CEOs were also more optimistic about talent availability and short-term growth prospects as compared to their global peers,” PwC said.
As many as 66 per cent of CEOs in India were very confident about having access to talent whereas globally only 30 per cent respondents felt the same way. The survey covered 1,258 CEOs across 60 countries and included 76 from India.
About 76 per cent of Indian CEOs were willing to take the onus of providing training for the available talent.
“While it is heartening to note that Indian CEO’s have expressed high confidence in their ability to find talent, it appears that they may be underestimating the extent of this challenge today,” PwC India Executive Director (Consulting) Padmaja Alaganandan said.
As per the survey, 88 per cent CEOs in India were willing to invest in improving the overall living and working conditions of the workforce compared to 55 per cent globally.
“Globally, CEOs are still positive about India and have ranked the country as the fourth most favourable nation for overall growth prospects in the next 12 months, just behind China, the US and Brazil. CEOs in India, in particular, are optimistic about their companies’ growth prospects,” Alaganandan noted.
On the other hand, globally CEOs admitted that they were unable to pursue a market opportunity due to challenges in getting the right talent.
“In India, 41 per cent of CEO’s cancelled or delayed a key strategic initiative owing to skills shortage as against 24 per cent globally,” the survey said.