- Randstad SL CEO says Fortune 500 companies will drive local eco system forward
By Hiyal Biyagamage
Ceylon FT: The much hyped topic of consolidation process aimed at reducing by half the number of finance companies in Sri Lanka can be viewed as a blessing in disguise, an HR expert from India told Ceylon FT.
Randstad India and Sri Lanka Chief Executive Officer, Moorthy K. Uppaluri said that if a situation arises where consolidation results in job redundancy; individuals and organizations should be thoughtful in terms of planning the next step and looking at translatability, not the skills. He suggested that the job surplus could be transferred into other industries of the country where the demand is high.
"One could look at the consolidation process as a disguised blessing. Say that you are a front officer in a bank and in the consolidation process; you lose your bank job. Imagine that the country's hospitality sector is red hot and screams for more talent. Is not there a chance with all your experience as a front officer that you could join the hospitality sector as a front officer?
There is some change in your left pocket and the right pocket is empty so you need to shift some change into your right pocket from the left pocket. So from one industry where there is a surplus of talent or a redundancy of talent that is created because of consolidation; one needs to map their skills and should look at how we can streamline those jobs which are becoming redundant and talents into some of the demands. It is always mapping supply to the demand and the willingness of these individuals to pick up new skills."
"I guess every problem comes with an opportunity. Half glass full and half glass empty you might say.
It is very difficult for the consolidation scenarios that some skills and talents will be redundant and it is very important for both individuals and organizations to be thoughtful in terms of planning the next step and looking at translatability, not the skills," opined Moorthy. When asked about the impact which can be created for the country's economy by establishing Fortune 500 companies, Moorthy said their financial strength would accelerate the local economy.
"It would help Sri Lanka in a big way. These companies bring in global learning, processes, commitment and technology and with their financial strength and global experience; they can help accelerate the growth of the local economy in a big way. May it be a global IT player or a telecom giant; their experience and strength will be very valuable," Moorthy said.
When questioned whether he was suggesting that more Fortune 500 companies should be in the country, Moorthy said, "Not only. They can come here and they should help carry the local eco system with them. It is not just bringing foreign companies to Sri Lanka. The local eco system is very important and it has to be vibrant. But I think these big companies can infuse the foreign investments that are coming in and it will boost the economy. When they rely on the local eco system for their supply purposes; it comes up gradually. So it is just not Fortune 500 companies coming to Sri Lanka and making money and selling their services, but they will help the local economy to grow."
www.ceylontoday.lk
By Hiyal Biyagamage
Ceylon FT: The much hyped topic of consolidation process aimed at reducing by half the number of finance companies in Sri Lanka can be viewed as a blessing in disguise, an HR expert from India told Ceylon FT.
Randstad India and Sri Lanka Chief Executive Officer, Moorthy K. Uppaluri said that if a situation arises where consolidation results in job redundancy; individuals and organizations should be thoughtful in terms of planning the next step and looking at translatability, not the skills. He suggested that the job surplus could be transferred into other industries of the country where the demand is high.
"One could look at the consolidation process as a disguised blessing. Say that you are a front officer in a bank and in the consolidation process; you lose your bank job. Imagine that the country's hospitality sector is red hot and screams for more talent. Is not there a chance with all your experience as a front officer that you could join the hospitality sector as a front officer?
There is some change in your left pocket and the right pocket is empty so you need to shift some change into your right pocket from the left pocket. So from one industry where there is a surplus of talent or a redundancy of talent that is created because of consolidation; one needs to map their skills and should look at how we can streamline those jobs which are becoming redundant and talents into some of the demands. It is always mapping supply to the demand and the willingness of these individuals to pick up new skills."
"I guess every problem comes with an opportunity. Half glass full and half glass empty you might say.
It is very difficult for the consolidation scenarios that some skills and talents will be redundant and it is very important for both individuals and organizations to be thoughtful in terms of planning the next step and looking at translatability, not the skills," opined Moorthy. When asked about the impact which can be created for the country's economy by establishing Fortune 500 companies, Moorthy said their financial strength would accelerate the local economy.
"It would help Sri Lanka in a big way. These companies bring in global learning, processes, commitment and technology and with their financial strength and global experience; they can help accelerate the growth of the local economy in a big way. May it be a global IT player or a telecom giant; their experience and strength will be very valuable," Moorthy said.
When questioned whether he was suggesting that more Fortune 500 companies should be in the country, Moorthy said, "Not only. They can come here and they should help carry the local eco system with them. It is not just bringing foreign companies to Sri Lanka. The local eco system is very important and it has to be vibrant. But I think these big companies can infuse the foreign investments that are coming in and it will boost the economy. When they rely on the local eco system for their supply purposes; it comes up gradually. So it is just not Fortune 500 companies coming to Sri Lanka and making money and selling their services, but they will help the local economy to grow."
www.ceylontoday.lk
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