Mumbai: India may face a crunch of talent in its rapidly-growing retail industry but people from areas such as telecom, finance and IT are likely to migrate to this sector, a senior official of Reliance Retail said on 7 June.
“We face a huge shortage of people in retail. But we can migrate people from other areas to the retail sector. Nearly 2-3 million people would be needed for the retail industry in the next few years,” Reliance Retail president & chief people officer Bijay Sahoo said on the sidelines of the SAP Summit.
Being a sunrise industry, the country’s retail sector would take some time to structure, he added.
Reliance Retail, a subsidiary of Mukesh Ambani-led Reliance Industries, has hired around 16,000 people in the last 19 months and is expected to recruit more as the expansion of the retail division takes place, Sahoo said.
Beginning with the food and grocery formats, which is currently being rolled out under the Reliance Fresh banner, the group has indicated it is looking at other verticals such as hypermarkets and categories like apparels and consumer durables under its Rs25,000-crore expansion plan.
The firm has been readying its HR strategy with emphasis on recruitment, training and retaining employees.
“We are strengthening learning and training programme for our employees. The training programme in retail is not tough like IT sector training,” he said.
Within Reliance Retail’s HR department, there is a team solely responsible for researching and collating the best practices from MNCs. The processes have been created by analysing the HR practices of existing players within Indian retailing and also global companies.
According to the company, retail firms can increase their profitability by cutting operating costs and fostering growth.