“(Academics) commit their pupils to the theatre of the world, with just taste enough of learning to be alienated from industrial pursuits, and not enough to do service in the ranks of science” Thomas Jefferson
Lately Companies are witnessing a drift in Business Situation. We are not just competing with Companies but now even with Countries in the context of receding BPO business margins which are being shared by countries like Philippines, China, Sri Lanka, Indonesia etc. These countries have an edge over cost of business, be it workforce - cost vs skills, setting up of business, Regulations and Policies etc.
In regard to IT and ITES industry, we have already reached the cost threshold and there is not much scope left within Metros. Most of the companies are exploring options available within Tier-2 and Tier-3 cities and rightly so, not just for filling talent needs but also setting up operations there. Factors such as increase in literacy, exposure through media and rise in living standards, disposable income and the aspiration levels have all contributed to the growth of smaller cities and towns. Riding on this wave, small cities are rapidly turning into mini-metros. Nasscom city magic quadrant which is based on Knowledge pool availability, Skill-set assessment, Infrastructure, Social & Living environment provides a perspective on Leaders, Challengers, Aspirant and Followers (as indicated in the picture above)
During recent times student community in these locations has become very important for business and there is a strong need to customize the education to meet business requirements.
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| NASSCOM City Magic Quadrant |
Lately Companies are witnessing a drift in Business Situation. We are not just competing with Companies but now even with Countries in the context of receding BPO business margins which are being shared by countries like Philippines, China, Sri Lanka, Indonesia etc. These countries have an edge over cost of business, be it workforce - cost vs skills, setting up of business, Regulations and Policies etc.
In regard to IT and ITES industry, we have already reached the cost threshold and there is not much scope left within Metros. Most of the companies are exploring options available within Tier-2 and Tier-3 cities and rightly so, not just for filling talent needs but also setting up operations there. Factors such as increase in literacy, exposure through media and rise in living standards, disposable income and the aspiration levels have all contributed to the growth of smaller cities and towns. Riding on this wave, small cities are rapidly turning into mini-metros. Nasscom city magic quadrant which is based on Knowledge pool availability, Skill-set assessment, Infrastructure, Social & Living environment provides a perspective on Leaders, Challengers, Aspirant and Followers (as indicated in the picture above)
During recent times student community in these locations has become very important for business and there is a strong need to customize the education to meet business requirements.
It was surprising to see that this population is competent more than what corporate expected. There are many globally recognized higher-education centers which produce a large pool of engineering graduate, diploma holders etc. It is just a matter of exposure and this segment would be at par in almost all aspects to metro population.
Some initiatives which can immediately provide the thrust to rural management institutes are;
- Building Technology Parks – Government should provide more fiscal incentives to IT companies for setting up the parks like Capital investment subsidy, Financial support for building rentals, network connectivity and manpower training
- Free Specialized course partnerships with educational institutions delivering information and communication technology skills
- Government plays a critical role and needs to support the growth of these cities by providing social, educational and physical infrastructure. It also needs to allocate for meaningful projects that would help enhance the pace of these developments and collaborate more with industry.
- Tie-ups of Educational Centers with Corporates to provide exposure to students through guest lectures, seminars, internship opportunities
- Expanding Horizon of Higher Education by building customized course curriculum specific to Industries or latest business concepts in University course material including business culture, professional standards and work ethics programs. Developing joint Academic – Industry Models. The curriculum should be finalized in consultation with industry experts and reviewed frequently. Hence it would be a two-tier structure consisting of the Executive Council and the Academic Council
- Companies should lower down the hiring parameters to fit in the youth force from tier-2/3 cities and up-skilling them with stringent in-house training programmes.
- Institutes to focus more on building strong communication skills to bring students at par with Tier 1 institutes.
Though Companies are filling their basic hiring needs through these locations with pool of Graduates and Engineers, if we keep applying above strategy, there is lots of hidden talent which will be corporate ready in years to come.
n order to promote rural management institutions, I feel rural areas need trained young managers much more than top institutes.
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