Education sector to see steep growth

Updated on: Tuesday, June 29, 2010

With the Government's thrust on education for all and a corresponding Rs 3 trillion worth of projected investment on its upgradation, the education sector in India is expected to see a steep growth curve, said Dr A S Kolaskar, Vice Chancellor, Kalinga Institute of Industrial Technology (KIIT) University on Monday.

Speaking at the Indian Chamber of Commerce's (ICC) 4th annual Strategic Human Resources (HR) Conference, he said that due to these inducements the number of students expected to opt for professional and higher education will be enormous.

He said, that this has put immense pressure on the education industry as a whole to provide the requisite skill development and training tailor-made for the industry.

Noting that higher salary and performance based incentive for the teachers cannot be the only driving factors towards achievement of this objective, he asserted that huge emphasis has to be put in retaining, enhancing and upgrading the available talent pool in academia.

He also said that there is a need for imparting constant training and skill development to teachers and academicians to make them conversant with the ever changing industry requirements, and that focus on sustaining and upgrading the brand equity of the academic setting should be accorded top priority.

Asserting that the availability of poor quality mid level managers in an organization as the primary reason behind high attrition among immediate entrants, he underlined the prime importance of constant skill development in the mid and upper management level in organizations.

Dr Giri Dua, Chairman, TASMAC (Training and Advanced Studies in Management and Communications), noted that the global economic recovery process has brought hiring trends back in the industry.

However unlike 2009, the current year has witnessed a threatening increase in employee attrition which had peaked in 2007, he said.

He said among the different sectors IT, BPO and BFSI have witnessed the largest attrition.

He said constant investment in talent management, learning and skill development, value creation, linking performance with equity compensation and above all building up an emotional connect with the employee are crucial to employee retention.

Education sector to see steep growth

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