Career Trends: May 20, 2022
Curated by the Knowledge Team of ICS Career GPS
Content Credit:
- Article edited by Rajashree Seal, published on India.com. Original article link.
With the rollout of vaccines and a decrease in Covid-19 cases across the country, many companies are now planning on having their people working from the office. The hiring process in many organisations has also seen an uptick.
- Amid the reopening of industries across the spectrum, India-based captive units of multinational companies are also set to increase their headcount.
- As per a report in the ET, existing and upcoming global capability centres (GCCs) in India are planning to hire about 180,000-200,000 employees by the end of this fiscal.
The companies on top of the hiring game include Amex, Bank of America, Wells Fargo, Citi, Barclays, Morgan Stanley, HSBC, Standard Chartered, Goldman Sachs, Amazon, Target, Walmart, Shell, GSK, Abbott, Pfizer, J&J, Novartis, and AstraZeneca, among others, as per Xpheno, a specialist staffing firm.
“The pickup in hiring post-pandemic is powered by a release of pent-up demand and expansion hiring by active global capacity centres. Further, the hiring action by and for new captives in the making has added to the funnel of hiring action.”
Anil Ethanur, cofounder, Xpheno
Hiring Across the Spectrum; High Demand in Tech & Digital Space
These companies are planning to hire for roles across the spectrum.
But, as the world went more digital post-pandemic, top talent and roles in demand are in the tech and digital space. These include:
- Roles in solutioning
- Core development
- DevOps
- Cloud and cyber security
- Virtualisation
- Data analytics
- Enterprise mobility
- Roles in artificial intelligence/machine learning
- Internet of things (IoT)
- Robotic process automation (RPA)
- Blockchain
At present, there are around 1,500 GCCs in India. These include sectors like:
- Banking
- Financial services and insurance (BFSI)
- IT software
- Automotive
- Pharmaceuticals
- Retail
- Oil and gas
This group of companies together net added about 170,000 jobs in India in 2021-22, while gross hiring stood at around 350,000, according to data provided by Xpheno.
With over 500 new GCCs planning to set up their captive tech centres in the country by 2025, the total headcount is set to double to 3.0-3.2 million by FY25 from 1.5 million now as the market size is estimated to increase to $60 billion from $36 billion, as per Xpheno.
India, A Strategic Hotspot
GCCs started increasing in the country post the Covid-19 outbreak, and this also led to an increasing number of organizations opening up to the idea of remote working. And, with India’s enriching talent pool, especially in the field of technology, many multinational companies have swiftly turned the country into a strategic hotspot.
Top recruiters among GCCs in India are BFSI companies. In Fiscal Year 2022, the BFSI GCC cluster net added more than 60,000 jobs, accounting for nearly one-third of the total net additions during the fiscal. Other top sectors include software, automotive, pharma, retail, and oil and gas.
India as a market is very attractive from a commercial perspective. It also has one of the largest university systems with both quality and quantity of talent.
Mohit Kapoor, global chief technology officer at consumer researcher Nielsen IQ, (Speaking to ET)
Nielsen is planning to hire over 5,000 people in the country at its three global hubs in Chennai, Vadodara, and Pune by the end of 2023. “Our India hubs will be of strategic advantage for us going ahead,” Mohit Kapoor added.
Meanwhile, praising India’s talent, Deutsche India’s CEO Dilipkumar Khandelwal said, “India has a very deep talent pool and a large number of resources from across engineering and finance backgrounds.” Deutsche India has plans to hire 3,000 people this year mainly in its technology and operations teams. “India is a very important location in terms of Deutsche Bank’s overall footprint outside of Germany.”
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(Disclaimer: The opinions expressed in the article mentioned above are those of the author(s). They do not purport to reflect the opinions or views of ICS Career GPS or its staff.)
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