Wednesday, July 2, 2008

Infrastructure sector hit by attrition

by Jo Black

A survey conducted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) reveals that key infrastructure sectors, like energy and steel, have reported attrition rate to the extent of 40%.

ASSOCHAM President, Mr. Sajjan Jindal said that a large number of ASSOCHAM constituents in the energy sector and the entire steel alliance are reporting shortages of experienced, skilled and qualified professionals to an extent of 40%, as these sectors are commissioning addition in capacities.

Most steel and energy professionals have abundant opportunities, Jindal said adding that the major companies are experiencing the unprecedented attrition rate which is also significantly contributing in increasing the cost.

Energy hungry India is currently working on four ultra mega power projects, to generate estimated capacities of 16,000 MW, which are likely to be commenced from the second half of 2008, and more energy professionals are required in the sector.

Assocham finds that the power professionals would like to cash in on the existing opportunities for a better future and would create sufficient space for attrition rates.

As far as the steel sector is concerned, almost every company, whether in the state or private sector, has drawn up a capacities expansion plan and is finding it extremely difficult to engage professionals as they are in utter shortages, says Mr. Jindal.

 

 

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