Sunday, July 15, 2007

India: Older Workers Beng Ignored in Economic Boon? A Commentary

Ravi Srinivasan, writing in the Hindustan Times, suggests that "India’s absurdly low retirement age of 58" means that by 2010, one-fifth of India’s current workforce ("from shop-floor workers to top managers") will be out of the workforce. Even though India has had a demographic drawing card--its vast supply of young workers entering the workforce, Srinivasan reports on recent surveys that show that several industries in India are already facing moderate to severe talent shortage.
“Opening the doors to older workers is a major benefit…it will help organisations retain knowledge and experience, widen the recruitment base and could lead to more customers and greater profits,” commented Soumen Basu, executive chairman, Manpower India.
Thus, "looking beyond those grey hairs makes sound business sense." Otherwise, in a few years, India may have found itself "untutored and fertile" over "educated and aging."

Source: Hindustan Times "India’s overlooked ‘grey market’ workforce" (July 12, 2007)

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