Global captives buck the trend, likely to hire 30% more this year

economictimes.indiatimes.com:

Global Capability Centres (GCC) are bucking the broader industry’s hiring downtrend. This year, GCC hiring could climb up to 30% from last year, with four out of five facilities adding jobs, data accessed by ET showed.

Fresher hiring by GCCs will mainly benefit premier institutes, experts said. This comes as the top Mumbai-listed IT services companies, otherwise among the leading absorbers of fresh engineering and management talent, have decided to skip the campuses.

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To be sure, GCCs are not entirely unaffected by the global macroeconomic situation. Hence, their manpower plans alone can’t offset a virtual hiring freeze at the large listed outsourcing behemoths.

Venu Lambu, chief executive, Randstad Digital, said that within the GCC ecosystem, there is a strong hiring intent for tech roles in non-tech GCCs in India. Lambu added that around 70-75% of the GCC employee base are permanent hires.

“And, this year, we expect a 25-30% uptick in hiring intent across GCCs in India, as compared with 2022,” he said, adding that four in five of these facilities are expanding their payrolls.

India has around 1,600 GCCs that together employ almost 1.66 million people, data from Nasscom showed.


“As part of our campus strategy, we have a long-standing relationship with several universities including the top IITs, and NITs and a few select campuses in the country,” said Chakra Mantena, managing director, head of technology global centers, Morgan Stanley. “While we