Spiraling wage cost is a threat to India’s competitive advantage, according to K N Memani, Chairman of the American Chamber of Commerce. According to Mr. Jeffrey Fuller, Principal Advisor of Human Capital consulting arm of Mercer a mere 25 per cent of the graduates that India produce every year are employable.

Mr. Memani identified the “issues of escalating remunerations and decreasing employee loyalty and talent crunch” as a great challenge to the human resource managers. This was the focus area in the Amcham Annual HR Conference on executive remuneration and employee attraction and retention in New Delhi today.

The right combination of the policies and its tactful implementation are keys to managing the modern day human resources problem, the experts from Mercer told in the Annual Conference. The conference was aimed at leveraging the HR managers to deal better with the challenge of employee attraction and retention. It was attended by HR managers from some of the leading American Companies and other global industrial houses.

Speaking on the occasion, Mr Jeffery Fuller, country head of the Mercer, said that even though India is poised to become the third largest economy in the world by 2050, out of all the graduates that pass out in an academic year, only 25% are suitable for industry. He also identified the high level of attrition in most of the industries of the economy as one of the most testing. The experts also believed that the present trend of the compensation growth will continue hog the limelight of the human resource strategy for next five to ten years.

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