
Retaining employees in emerging markets is even harder for major Western companies than attracting them, particularly in the fast-growing Indian and Chinese economies, according to a study by consulting firm Deloitte Touche Tohmatsu.
Among the five emerging markets China, India, Southeast Asia, Latin America and Eastern Europe 38 per cent of respondents in India rated employee retention very difficult, followed by 36 per cent in China, according to the study, which will be released on Monday.
It was harder to keep workers than to attract new ones in those two countries, the study found. Twenty-eight percent of respondents in China and 23 per cent in India found it very difficult to attract new employees. 8220;Labor costs for skilled workers in many emerging markets are rising quickly, and manufacturers are now finding it more difficult to attract and retain qualified workers,8221; the survey found. Deloitte polled 446 manufacturing executives from companies headquartered in 31 countries.