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9, December 2006 Pragati Maidan, New Delhi.
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The retail boom has witnessed large-scale recruitment across the country, but that has led the industry to grapple with high attrition too. This has prompted retailers to try out new innovations aimed at not just getting raw and new talent but also retaining employees. Kishore Biyani-promoted Pantaloon Retail (India) has already tied up with B-schools such as Welingkar’s Institute of Management Development and Research in Mumbai and Chennai Business School for recruiting students pursuing retail management courses. On the other hand, the new kid on the block, Reliance Industries Ltd, is mulling setting up a university that will have various courses, including one on retail management. According to a city-based analyst, recruitment and retention strategies are going to be critical to success of the industry. “Increasing demand for trained manpower in the retail space is likely to drive up pay-scales significantly, making recruitment and retention strategies very critical to success,” the analyst feels. Home improvement product retailer House Full International Ltd also recently announced a tie-up with Karma Retail Academy with an objective to train and create professionals for the industry and gear them up for the booming retail scenario. According to consultancy firm Technopak, the industry will see $20 billion of fresh investments (excluding investments in real estate), at least 6.5 million new direct and indirect jobs and 2,000 hyper markets in the next five years. The Wadhawan group promoted retail chain Spinach, however, has found a unique way to retain people. According to Spinanch CEO Dippanker S Halder, “Retention of employees in the retail sector is one of the key areas for success due to which we employ Indians from West Asia and the Far East—people who want to come back and settle in homeland.”
Date: 08-Jan-2007
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