GCCs on hiring spree: The reasons and the road ahead
According to data from ANSR, while the absolute GCC hiring numbers are still smaller than the IT services hiring numbers, GCCs in India are expected to create 3.64 lakh jobs in 2023 in the country. Of the varied sectors, Xpheno data says 25% of the net additions will come from the banking and financial services sector. And the skills in demand will include software developers, engineers, data scientists, AI/ML scientists, cloud experts and cybersecurity professionals.
GCCs have been operating in India for years. The key question for many today is what’s new about the current wave of GCC hiring?
Vikram Ahuja, MD of ANSR and CEO & Co-Founder of Talent500, says while there are already 1,600 GCCs employing 1.5 million professionals, growing at 12% year on year, the last 2 years have been transformational. The GCCs are seeing the strongest pipeline ever for their work.
He pins the reasons on some specific factors: “The pandemic normalised the idea of remote work. GCCs gained more mainstream acceptability. GCCs, in many cases, outperformed standard organisations on important metrics such as business continuity and information security, which are critical for large global companies. In a way, it served as a litmus test.”
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GCCs have perfected these processes over many years and might be in a stronger position to set up such distributed teams at scale now. But that still doesn’t explain the hiring wave entirely.
Another reason is skills. “What’s different now is that the pace of tech advancement is more aggressive. In the conversations we have had over the last 12 months, it is no longer about whether we should do this, but
