Construction Cos Vs IT Sector : It’s a Talent Hunt

September 17, 2007	(1 votes, average: 4 out of 5)  Loading ...
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There is a major shortage of experienced manpower in real estate industry and engineering sector. People are largely diverting towards the IT industry which is believed to have formed 24% of the employment prospects in the first four months of 2007.

A high proliferation of attractive IT industries has made talent search an uphill climb for construction industry which are now offering high salary packages equivalent to IT industry to woo engineering talent.  Still, the demand–supply gap continues. This has forced the real estate companies to carry out a cross-border search. Experience workforce from Gulf and far East Asia are in high demand as they have a sound knowledge of mechanization, techniques, and speed.

There is no dearth of freshers who seem to be bullish on joining construction industry. But the gap appears at middle and senior level. To get good recruitments, construction companies are giving a steep salary hike at these levels. The companies are even ready to throw attractive incentives like stake in commercial/residential projects. It is also another way to retain employees.

A few years ago, a senior manager used to earn Rs 12 lakh annually. Today, their salaries have run into a couple of crore in few exceptional cases, says Feedback Ventures MD engineering division Parvesh Minocha.

As opposed to earlier required profiles, a project manager will need 10 years of experience instead of 25 years. Soon, it may come down to five years, feel industry experts.  The skill upgradation will be needed in other areas too – in future,  diploma holders will be fulfilling the shortage of engineers who will go on to take up higher job responsibilities.

Construction companies also require support staff in contract management, logistics, procurement, mechanical, and electrical engineering.

News Published Under:   Real Estate India |

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