The Accenture India Talent Supply Mapping study leveraging talent potential to drive high performance

The Accenture India Talent Supply Mapping survey-An executive preview

Global economic power today is dispersed between the traditional power centers of the United States, Europe and Japan and the developing economies as they contribute to an everincreasing share of the worlds output, trade, investment and consumption. Accenture has chronicled this change in global economic power and its concomitant implications, in its research The Rise of the Multi-Polar World. A key dimension of this new global order, as identified in the study, is the talent imperative. Winning talent has become a significant factor to achieving high performance in the face of shrinking labor forces in developed economies and access to large talent pools in the emerging economies. It is estimated that approximately 97 percent of the 438 million people who will join the global workforce by 2050 will be from developing countries. As organizations try and tap into these resources, they have realized that the talent pools across countries have a different set of competencies and are at different stages of maturity. Talent is a critical source of competitive advantage for todays high-performance businesses as demonstrated by the findings of Accentures ongoing High Performance Business research. One of the building blocks of high performanceperformance anatomy relies heavily on the quality of talent that an organization has to develop an appropriate culture, leadership and workforce. India has one of the worlds largest and youngest populationsby 2020, the country is expected to represent 17 percent of the worlds working-age population (of adults aged between 15-59 years). It is thus no surprise that India has long generated keen interest among business leaders across the world. It is progressing beyond establishing its credentials as a low-cost, medium- to high-quality talent base and is now increasingly regarded as a location for innovation, product development and research and developmentfeeding the demand requirements of todays large organizations that follow global sourcing models. While Indias outsourcing industry and technology workers have drawn the most attention, other skill pools are also much in demand, with needs being met along different stages of the skill continuum. Thus, while at one end of the skill continuum, we find Indian doctors and health workers in demand to fill roles in the United Kingdoms National Health Service, at the other, diamond cutters and polishers based in Surat, Gujarat, represent the largest base of diamond processing skills in the world. Indias above 8 percent rate of growth has meant rapid job creation across a wide range of industry sectors and this has strained the talent pipeline as there are now more jobs in India than people to fill them. This spiraling demand has an impact on the talent supply dynamics in the Indian market leading to high attrition and an increase in wage levelsfor instance, the lack of experienced professionals in business process outsourcing and information technology has led to high attrition rates (19 percent in 2007 )

Talent Supply Index

The talent supply index is a compound measure made up of 14 underlying parameters that affect the Gross Enrollment Ratio of a state. This ratio is indicative of the employability potential of a state. The index thus helps to provide a topdown view of talent supply availability and quality across the states of India. The parameters considered include: Labor-related (including labor productivity of public administration, labor productivity of other services, employment growth in electricity, gas and water sectors) Investment-related (including registered manufactur2

ing expenditures, construction expenditure, and ratio of finance to total foreign direct investment projects) Education-related (including teacher-pupil ratio in higher education, number of institutions deemed to be universities, number of arts, science and commerce colleges, number of engineering, technical and architectural colleges, number of law, management, postgraduate institutes offering degrees in computer applications, agriculture and IT colleges, number of teacher-training schools, percentage of universities and business schools in national rankings, total enrollments at school level.)

Figure 1. Change in Population 2007-2020 (Forecasted)

Source: ILO

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Working Age Population (million) Economically Active Population (million)

150

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0 Brazil -50 3 China India Japan Russia US

and multinational corporations wooing talent by paying premiums (wage inflation was as much as 18 percent in 2007 ). Another challenge for Indian companies and multinationals alike is the dispersion and divergence in the availability and quality of talent across the various Indian states. In India, population has traditionally been perceived to be a burden. But the lack of uniformity in the demographic stages of different states actually offers a window of opportunitystates with population surpluses should find ways to turn them into assets. India has time and youth on its side. With one of the youngest populations in the world, it is at the cusp of realizing its demographic dividend. Continued economic growth can be sustained with growth in the working age population assuming that there are continued investments in education and skill building. However, growth in population also tends to

slow down with further industrialization and urbanization of populations brought about by increasing development and sophistication of the economy. Given this context, it is becoming increasingly important that businesses have a good understanding of talent supplywhat Accenture calls talent supply mappingand that they closely tie their talent planning, resourcing and acquisition strategies with their areas of business focus and identified growth drivers. By doing so they can hope to identify and acquire talent that is suitable and can fuel their competitive advantage in a way that puts them on the road to high performance. To assist corporations and policymakers alike in such an initiative, Accenture has undertaken a multidimensional mapping of the talent potential and talent availability situation within India over a 20-year horizon, ranging from 2006 to 2026, while simultaneously assessing

the demand-side scenario through a sectoral growth pattern study. Accentures deep and broad experience across industry sectors uniquely qualifies it to do so. To this end, Accenture has also developed a talent supply index which is a compound measure made up of 14 underlying parameters that provide a top-down view of talent supply availability and quality across the states of India. The parameters can be grouped under the heads of labor-related, educationrelated and investment-related and includes critical variables like per capita income, economic investments made and enrolment in higher education. This executive preview is a precursor to the comprehensive report prepared by Accenture, in association with its research partner 9.9 Mediaworx, which captures the detailed findings of this survey. This preview provides a summary of the key findings. The three aspects that it covers are the demand drivers, the supply drivers and finally, the talent supply index.

Talent supply mapping involves accurate analysis and forecasting of talent pool availability and employability using past data and market trends, and can be done from a company-specific, location-specific and industry-specific perspective. If corporations get involved early on in the talent creation processnot only does this help them to serve their business needs, it gives them a far greater control over their talent acquisition strategy.

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Demand drivers - sectoral growth patterns

The first aspect of Accentures multidimensional talent mapping initiative is a study of the sectoral growth patterns that may emerge in India by 2015. As the Indian economy matures, the services sector has the potential to become the primary employment generator. The study examines 16 sectors and identifies the following eight sectors of the Indian economyretail, IT and IT-enabled services, hospitality and aviation, health care, banking and financial services, automotive and fast moving consumer goodsas having the potential to add 19 million jobs alone to the organized sector by 2015, an increase of 125 percent over the 15 million that these sectors collectively employed in 2007. These sunrise sectors are likely to dominate business over the coming decades and form an integral part of the service economy. (Refer to Figure 2) . In particular, the high-growth sectors of IT and IT-enabled services, hospitality and aviation and health care are expected to contribute a lions share of 68 percent of the new potential jobs to be created by 2015. An interesting insight that this study points out is of the employment generation potential offered by the hospitality and aviation sector. While the promise held by a labor-intensive sector like retail are well-known, the hospitality and aviation sector may also emerge as a significant employer as it rides on the wings of Indias expected transition to a services economy, driven by consumption-led growth. Since the sector has the potential to absorb unskilled and semi-skilled labor, in addition to highly specialized technical and managerial skills, the opportunities can be leveraged by a cross-section of Indian states at different levels of the growth and industrialization continuum. As far as skill needs go, demand is expected to be generated across the skill chain in all of these industries. This means, for example, that as growth of organized retail becomes well-entrenched, there may be increased demand for shop floor attendants and store keepers along with logistics and operations managers as well as brand and merchandising consultants. Our study includes a scenario analysis for each of these sectors looking at different factors which can help determine their growth in the future ranging from the current maturity of the industry, areas of growth, talent profiles required and possible challenges.

Accentures multi-dimensional mapping of Indias talent availability potential covers three aspects.
Figure 2. Employment by Sectors - 2001 to 2015 (Projected)
Employment in sectors reflects persons employed in organized sectors of the economy including skilled and unskilled personnel. BFSI Retail Healthcare

14000000 12000000 10000000

Persons Employed

Hospitality & Aviation Automotive Industry IT & ITES FMCG Telecommunications

8000000 6000000 4000000 2000000 0

2001

2002

2003

2004

2005

2006

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2015

Services

Supply driversdemographic transition and implications on working age population

An interesting insight that this study points out is of the employment generation potential offered by the hospitality and aviation sector. While the promise held by a labor-intensive sector like retail are well-known, the hospitality and aviation sector may also emerge as a significant employer as it rides on the wings of Indias expected transition to a services economy, driven by consumptionled growth. Since the sector has the potential to absorb unskilled and semi-skilled labor, in addition to highly specialized technical and managerial skills, the opportunities can be leveraged by a cross-section of Indian states at different levels of the growth and industrialization continuum.
A peculiarity of the Indian talent landscape is the variety and contradictions that it houses, much like the diversity and complexity of Indias multilingual, multiethnic society. As mentioned earlier, Indias demographic dividend is not evenly spread across states and employability differs from region to region. The second pillar of Accentures talent mapping exercise involves understanding demographic transition patterns across the Indian states and their implications for potential employability. Here are some facts that highlight the inherent contradictions: As per our analysis, Tamil Nadu, followed by Kerala, is likely to experience the lowest population growth15 percent and 17 percent respectivelybetween 2001 and 2026. In contrast, Delhis population is expected to grow by 102 percent in the same period. The decline in fertility and increase in life expectancy at birth is expected to result in growth in the number 8 of the aged. In Kerala, where lower fertility and mortality rates have been achieved earlier than other states, the median age of population is expected to go up from 28 years in 2001 to 38 years in 2026. In contrast, Uttar Pradesh is expected to have an increase of the proportion of old age population from 6 to 10 percent over the same period, with a consequent increase in the median age from 19 years to 27 years. This implies that Kerala is likely to have the highest proportion of people aged above 60 years, two decades from now while Uttar Pradesh is likely to have one of the youngest populations. Seventy-seven percent of Indias labor supply growth is expected to be generated in ten states Uttar Pradesh, Maharashtra, West Bengal, Andhra Pradesh, Bihar, Tamil Nadu, Madhya Pradesh, Karnataka, Rajasthan and Gujarat. As per the Census of India and our own analysis, labor growth in these 10 states (close to 175 million) is projected to more than offset total aging in India (of about 90 million) by 2025. Two decades from now, these states are expected to account for about 80 percent of the countrys population. The report correlates findings like these to derive an integrated map of how the different Indian states may pan out as far as the demographic transition and its implications on working-age population versus the stage of economic transition goes. Economic transition refers to the transformation from a largely rural agrarian society with high fertility and mortality rates to a predominantly services-led society, with lower fertility and mortality rates (refer to Figure 3). The frontrunners are familiar names Gujarat, Maharashtra and Karnataka. These states seem well-placed to capitalize on their early economic transition from an agrarian society to an industrialized one as they demographically come off age, with a high proportion of their current populations in the working age band.

Figure 3. How the states stack up Demoghaphic Transition

Stage I Stage II Stage III

Maharashtra Tamil Nadu Gujarat

Economic Transition

But it is states like Bihar, Madhya Pradesh, Rajasthan and Uttar Pradeshwhich today have low scores on the human development indices (like birth rate, mortality rate and quality of health services)that are likely to hold the growth potential for India. These states seem to be in a position to realize their demographic dividend around 2025, at a time when todays frontrunner states are likely to have aging populations. The findings that emerge from our survey are laden with immense possibilities, but also signal the need for concerted and focused initiative from corporations and policymakers as they plan for a future today where the possibilities of achieving high performance can benefit all. Corporate leaders could consider setting up training institutes in states that have the potential to realize their demographic dividend in the later years. By sowing the seeds of educational infrastructure creation today, corporations could help to build alternate pools of talent, consequently enhancing talent capacity generation. The other advantage of an early entry into the talent creation process is that it has the potential of giving corporations a head start as far as their talent supply mapping initiatives go. Talent supply mapping involves accurate analysis and forecasting of potential talent pool availability and employability using past data and market trends, and can be done from a company-specific, location-specific and industry-specific perspective. If corporations get involved early on in the talent creation process, not only does this help them to serve their business needs, it gives them a far greater control over their talent acquisition strategy.

Karnataka

Rajasthan Madhya Pradesh

Andhra Pradesh

Agrarian

Uttar Pradesh Bihar

West Bengal

Economic Transformation: Transition from a largely rural agrarian society with high fertility and mortality rates to a predominantly services-led society with low fertility and mortality rates. Demographic Transition: Stage I - increase in the proportion of the young aged below 15 Stage II - proportion of working age population age 15 to 60 increases. Stage III - proportion of old people aged 60 and above - rises

Talent Supply Indexmeasuring talent potential at the state level

State Maharashtra Uttar Pradesh Andhra Pradesh Tamil Nadu Karnataka Madhya Pradesh West Bengal Gujarat Delhi Bihar Orissa Rajasthan Kerala Punjab Haryana Assam Himachal Pradesh Jammu & Kashmir Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18

Inferences
Accenture has perceived certain overarching trends as a result of its multidimensional talent mapping exercise. Within the high-growth sectors, sectoral growth rates and growth patterns may vary given the maturity of the industry.
This has the following implications for states: Sectors lower on the product lifecycle curve like health care and retail are expected to be in an expansion mode as they increase their penetration. The retail industry is likely to have a heavy demand for cheap, unskilled and semi-skilled labor that states like Bihar and Rajasthan can fulfill. But organized retail also needs to be located close to high-spending customer basesa conundrum that policymakers and businesses will have to solve to be able to unleash the retail revolution in India. IT and IT-enabled services are much higher up on the product life-cycle curve, which manifests itself through a squeeze in the labor cost advantage. As this industry continues to move up the value chain, its growth is likely to be driven by specialized skills which all states might not be equipped to fulfill given their current state of educational and infrastructural development. Yet many states are eager to replicate the successes of first movers like Karnataka and Andhra Pradesh in this sector. Accentures India Talent Supply Mapping report, to be published later, will give a detailed analysis of the factors affecting: The sectoral demand scenariothe growth drivers, the emerging skills and capabilities and the states that, in Accentures opinion, are best positioned to service these industries. The talent supply scenariothe states that Accenture considers to be best positioned to provide talent to Indias growth sectors and their performance on significant parameters indicating their preparedness for attracting investment and employment generation. The talent supply indexits implications for sectoral demand and statewise talent availability potential.

The third aspect of Accentures multidimensional talent supply mapping initiative for India is the talent supply index, a compound measure made up of 14 underlying parameters that has been used to arrive at an indicative list of states that Accenture considers to have the highest talent employability potential. The talent supply index uses a variety of labor-related, investment-related and educationrelated parameters pertaining to individual states to assess the potential of employable talent they have to offer.

Rankings as per the Talent Supply Index

As per the talent supply index (refer to figure 4), Maharashtra ranks the highest on talent employability potential, followed by Uttar Pradesh and then the southern triad of Andhra Pradesh, Tamil Nadu and Karnataka. The findings, in a sense, reflect the economic and industrial preponderance of these states for emergent India, as well as, a continuation of the earlier economic legacy for some. A key consideration for devising the index has been the enrollment rate for higher education in the various states. This is because research findings across the world have established a high causal relationship between the gross enrollment ratio (GER) into higher education and the per capita gross domestic product (GDP)the more qualified the workforce is, the higher the chances of its employability and resultant impact on the earnings for the state. Though for India this causal relationship is not that clear yet, the two variables show extremely high correlation which gives us the confidence to use them 10

as a basic premise for our study. While designing this index, 80 parameters were examined, of which 14 were ultimately considered as having the highest impact on the GER for a state. These parameters are broadly classified as: Labor-related (for instance, labor productivity of public administration, labor productivity of other services) Investment-related (for instance, registered manufacturing expenditures, construction expenditure and ratio of finance to total foreign direct investment projects) Education-related (for instance, teacher-pupil ratio in higher education; number of institutions deemed to be universities; number of arts, science and commerce colleges, number of engineering, technical and architectural colleges total enrollments at school level) The index reflects the fact that the higher ranked states have a higher

proportion of educational institutions within their boundaries. For example, Maharashtra has more than 10 percent of the educational institutions in all the major disciplines in India , ensuring that a steady stream of youth come to study in this state. Likewise, Bangalore in Karnataka, Chennai in Tamil Nadu, Hyderabad in Andhra Pradesh and Pune in Maharashtra have been able to attract the highest number of foreign direct investments into the IT and IT-enabled services industries because of their proximity to a large number of the countrys engineering and technical institutions. These index rankings thus reflect the self-perpetuating cycle of education, investment and talent supply, an integral and critical link that needs to be judiciously handled by all stakeholders to gain the optimum growth advantage.

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For policymakersHow employability could be enhanced

The Indian public education system requires some reform and transformation for its productseducated studentsto be able to benefit from the creation of employment opportunities. Given below are the possible options that may be considered: Develop customized state-level development planAs the study indicates, each state has unique characteristicsin terms of the existing quality of its workforce, the demographic stage it is in and its overall economic health and therefore, needs to individually assess the direction that is best suited for its future growth. For instance, Bihar currently has low scores on enrollment rates for higher education and the number of professional colleges it has. However, it is demographically well-positioned and could significantly contribute to Indias working age population two decades from now. There could thus be some differences in the state development plan outlined for Bihar vis-vis one chalked out for say, Andhra Pradesh. Population as an assetPopulation has been traditionally perceived as a burdenstates need to find ways to leverage existing population surpluses and turn them to into assets. Establish job-oriented training institutesIt is important to set up educational infrastructure in keeping with the states customized development plan. To continue with the instance of Bihar discussed earlier, given the current quality levels of the talent pool in the state and its future demographic advantage, sectors like retail, hospitality and IT-enabled services could hold promise. Policymakers at the central or state level could enable setting up of vocational institutes to transfer employable skills to those who have a minimum of a high school education. Set up regulatory oversight for educationIn a multi-polar world where there are multiple centers of economic power and activitytalent is a fungible asset and it is imperative to provide education that is of world-class standard. The first step to doing so is through setting up of a regulatory mechanism for education. According to leading scholars Devesh Kapur and Pratap Bhanu Mehta , the proportion of private engineering seats, in the total number of engineering seats in the country that existed in 1960 went up from 15 percent to 86.4 percent in 2004. These figures indicate that it is the private sector that has largely catered to the growing demand for such specialized higher education while the government sector has scarcely increased capacity over the past four decades. However, given the demand-driven nature of such private sector capacity creation, the lack of proper regulatory oversight becomes an even bigger issue as quality often gets a short shrift in the haste to open more institutes. In the absence of established and appropriate benchmarks, students and employers have no means of assessing the worth of such education. Offer certification programs in specialty domainsAvailability of specialist talent which understands and addresses the unique needs of a particular sector is critical for enabling focused sectoral growth. For instance, the retail sector stands to benefit significantly by becoming more organized and professional. As per our estimates, the sector is expected to employ a total of 1 million people by 2015. A number of skills required in retail are independent of factors like location and education. A graduate in mathematics can make a career in retail just as well as one specializing in sociology, provided they are given the right kind of training. Therefore, offering nationwide certification programs can give a boost to this sector. 13 13 Diversify current set of academic coursesAll the high-growth potential sectors mentioned earlier require specialized training. Therefore, it is important for current institutions to diversify their offerings to include such specialised courses. Further, policymakers at the state level could take the initiative in developing training academies for those sectors that they wish to welcome into their states. This can help to initiate the momentum for the education-investment-talent supply cycle drawing sectors which find a ready pool of talent available.

Conclusions and Recommendations

While Indias talent landscape is complex and multi-layered, the challenge lies in seeing the unity and spotting the opportunity through this prism of variance. Accenture seeks to highlight some key issues for two important stakeholderspolicymakers and corporationsin the talent development, management and resourcing space.

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Corporate sector How to make the right choice

Make talent supply mapping an integral part of talent acquisition and management strategyThe importance of talent quantity and quality cannot be ignored today, as the scale of people-intensive operations and knowledge acquisition and retention have become critical success factors for high-performance businesses. Drawing up talent supply maps helps to provide fact-based evidence to organizations enabling them to make informed and accurate talent acquisition strategies (in comparison, to doing so intuitively). It also helps to proactively highlight any skill or capability gaps, well in advance. Thus, organizations have to hone their skills in identifying alternate talent pools or initiate other moves to cover such gaps. Adopt a long-term approach towards talent development: Talent supply mapping also helps organizations identify future trends and shifts in talent pool factors. It is extremely important to preempt significant shifts in parameters like education/ enrollment rates, literacy, average age and so on, as these parameters help to design and deploy relevant employability practices and thus help organizations adapt faster to a changing talent marketplace situation. For instance, if an organization is sourcing its talent from Keralaa state which is expected to have an average age difference of over 10 years as compared to Uttar Pradesh work-life balance practices and pension and benefit plans are likely to play a more significant role in the next 10 to 15 years vis--vis those for Uttar Pradesh, which is expected to have a far lower median age of population. Hence, the employability practices need to proactively evolve accordingly. Similarly, inclusion and diversity practices are expected to become more critical as the workforce mix rises in 14 terms of skills, ethnicities and religions. This is especially relevant for large organizations and conglomerates having multiple businesses which source, recruit and employ multigenerational talent pools from multiple locations in varied jobs and locations. Thus, a talent supply map may become an indispensable input for forming business cases on the requirement to invest in talent management practices with respect to culture, inclusion, work-life balance, skill development and corporate citizenship. Customize talent acquisition and management decisions keeping in view the state-wise differentials of talent availability, quality and stickiness, rather than treating talent as a standalone factor: While the onus is always on central and state governments to enhance the skills and employability of its populace, corporations can also play a significant role in speeding up the process. Our study showcases significant differences in important demographic parameters across states emphasizing the need to design divergent human resource practices that appeal to individual and distinctive talent pools. The framework given below (refer to Figure 5) can serve as guideline to companies in making the right decisions with respect to their talent acquisition and retention decisions, and assist them in measuring their talent strategy in tandem with their business need as they weigh out their options on which states talent to invest in. The framework is based on three key criteria: Availability: The availability of talent in a state is defined by its level of demographic dividend, the availability and quality of physical infrastructure and the potential of the location to help the company gain a first-mover advantage. The talent availability scenario in a state can be assessed in conjunction with the talent supply index rankings and the states position on the demographic transition map. Physical infrastructure, such as availability of airports, roads and public transport has an impact on the talent quality located in the state. Establishing first-mover advantage becomes an important determinant for companies which have a long-term horizon in mind. For instance, if a company in the IT and IT-enabled services sector is the first to move to a TierII city, their brand gets a head start in terms of hiring and loyalty. Appropriateness: The availability and quality of institutions, the states economic policies and its political climate cumulatively determine the appropriateness of a state. If high-quality institutions in the state regularly churn out employable graduates, then the company can be assured of a steady supply of talent. However, if the states economic policies are not businessfriendly or its political climate is highly unstable, that would make the state unattractive for investment. Retention: This is influenced by the cost of living, opportunity to scale up quickly and social infrastructure. Companies will find it easier to retain employees in a particular location if they are assured of a stable cost of living. Likewise, companies prefer destinations which allow them to increase their scale of operations within the state itself. Given that retention is today a recurrent problem for companies, employers prefer destinations which offer an evolved social infrastructure in the form of entertainment options and educational institutions so that the youthwho make up the bulk of the workforce in large corporationsstay occupied and happy.

Figure 5. Corporate decision-making framework

Criteria Availability Appropriateness Retention

Factor Demographic Dividend Physical Infra structure Potential first mover advantage Availability and Quality of Institutions State Economic Policy Political Climate of State Cost of Living Opportunity to scale up quickly Social Infrastructure

Companies can score each of these criteria on parameters included in the talent supply index (like number of institutions in relevant disciplines, enrollment into higher education and so on), choosing the parameters most relevant for them. In addition to this, they also need to give scores against the socio-economic conditions and quality of physical and social infrastructure availability for the states they wish to evaluate. This would help them arrive at a go, no-go decision point and companies could accordingly decide where they wish to invest based on overall talent potential. Create and nurture right partnerships to grow talent and enhance employability: The states that have low scores on economic parameters but currently have population surpluses, are expected to be critical for medium- or long-term growth of most of the organizations located in such states. Therefore, those organizations, who either have presence in or are contemplating expansion to these states could form partnerships with the government or private institutes

to nurture the talent further to make them employable. Those organizations, that have a deeper presence in states with employable talent deficits could help expand the talent pool for themselves or others through creative solutions like identifying synergies with the kind of skills they will need in the medium- to long-term, and establish forums for private-private or public-private partnerships. Until now, corporations have largely used the availability of infrastructure and government policies to guide decisions on investmentsthat is, where to locate their business hubs. Accenture believes that to be successful in the future, corporations should proactively engage in talent supply mapping to closely understand all aspects of talent sourcesthe availability and quality of talent and how it can be most effectively retained. For India to achieve a critical position of importance in todays multi-polar world, it is imperative to have a talent

development strategy that is completely in synch with the countrys future aspirations and capabilities. This might be difficult to achieve without concerted and targeted initiatives from policymakers and corporates alike, with each player taking equal ownership of its commitment the prospect of achieving high performance in the future depends on the route we take today. Disclaimer Clause: This study contains information available in the public domain, created and maintained by private and public organizations. Accenture does not control or guarantee the accuracy, relevance, timelines or completeness of any such information. Refer to Sources as part of the study. This study is indicative in nature. All projections presented in this report are indicative and subject to other extraneous factors. This study constitutes an opinion as on the date of publication and is subject to change. Accenture does not warrant or solicit any kind of act or omission based on this study 15 15

Sources
1. Economist Intelligence Unit (EIU) labor force projections 2. United Nations Population Database 3. United States Census Bureau 4. International Labor Organization Estimates 5. Census of India 2001, Census of India Projection Report December 2006 6. State Statistics, Selected Educational Statistics 2004-5- Ministry of Human Resource Development 7. Economic Statistics - Reserve Bank of India 8. Indian Ministry of Commerce and Industry estimates 9. India Labourstat Database 10. 9.9 Insights Research 11. TPI study, India: An Attractive BPO Destination Marred by Alarming Attrition by Dinesh Goel and Prabhash Thakur 12. Devesh Kapur and Pratap Bhanu Mehta. Indian Higher Education Reform: From Half-Baked Socialism to Half-Baked Capitalism. CID Working Paper No. 18, September 2004 13. Hillage, J. and Pollard, E., 1998, Employability: Developing a framework for policy analysis, Department for Education and Employment (DfEE) Research report. no RR85 (London, DfEE)

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