Human Resource Challenges and Practices in IT Industry

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Proceedings of the 5th National Conference; INDIACom-2011 Computing For Nation Development, March 10 – 11, 2011 Bharati Vidyapeeth‟s Institute of Computer Applications and Management, New Delhi Human Resource Challenges & Practices in IT Industry Rakesh S. Patil1, Varsha Patil2 and Pratibha Waje 3 1 Head and 3Lecturer 1,3 Sir Visvesvaraya Institute of Technology, Chincholi (Sinner) Nashik-422 101 (MS) 2 SNG Institute of Management & Technology, Rajgurunagar, Pune (MS) 1 and ABSTRACT The need of organizations for people and people for organizations will be more difficult to satisfy in the today’s competitive business environment. Organization’s competitive advantage could be generated from…show more content…
2. Best Talent Attraction In a tight job market, many organizations often experience precipitous and simultaneous demands for the same kinds of professionals. In their quest for manpower, they are cajoling talent around the world. In such a seller 's market, software companies are striving to understand which organizational, job, and reward factors contribute to attracting the best talent one having the right blend of technical and person-bound skills. This would mean a knowledge of 'the tools of the trade ' combined with conceptualization and communication skills, capacity for analytical and logical thinking, leadership and team building, creativity and innovation. The Indian software industry suffers from a shortage of experienced people such as systems analysts and project managers, and attracting them is a key HR challenge. 3. Compensation and Reward Increasing demands of technology coupled with a short supply of professionals (with the requisite expertise) has increased the costs of delivering the technology. This makes incentive compensation a significant feature, with the result that software Copy Right © INDIACom-2011 ISSN 0973-7529 ISBN 978-93-80544-00-7 Proceedings of the 5th National Conference; INDIACom-2011 companies have moved from conventional pay-for-time methods to a combination of pay-for-knowledge and pay-forperformance plans. With the determinants of pay being profit, performance and value-addition,
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