Chief Digital Technology Officer & SVP
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A New Kind of Talent Shortage: Skills
For years many have assumed offshoring leaders like India had enough talent to manage the entire global marketplace's IT needs. The truth is quickly emerging that while India does have extremely skilled IT talent, their numbers are limited.
Two weeks ago, the LA Times printed an article called "India's Looming Talent Shortage," which focused not on the lack of workers but the lack of skilled workers. Henry Chu, the article's author, points out that "A report by the McKinsey Global Institute last year estimated that only 25% of Indian engineering graduates were employable by multinational companies."
The lack of viable marketplace skills in India is driving big business to new and emerging offshore locations, such as Vietnam where approximately 50,000 people graduate with IT degrees annually (a number that continues to grow). An impressive 85 percent of Vietnamese graduates are science-based graduates, way beyond the numbers you see anywhere in the West.
Working daily with offshore teams in Vietnam I am continually impressed by the skills even the newest graduates bring to the table. The Vietnamese government has invested heavily in helping to educate young professionals, and their efforts are paying off in a highly skilled workforce that is gradually giving India a run for its offshoring money.