GCCs to employ 3 mn by 2025
Premium- According to Xpheno, at the current growth rate, a net headcount addition in GCCs of 180,000 to 200,000 is expected by the end of this financial year
NEW DELHI : Global Capability Centres (GCCs) are set to hire more than three million employees in India by 2025, showed data from hiring firm Xpheno.
Such captive centres, which are run by MNCs to enhance productivity, offer back office and tech support functions. Such companies use GCCs as centres of excellence (COE).
According to Xpheno, at the current growth rate, a net headcount addition in GCCs of 180,000 to 200,000 is expected by the end of this financial year. The total workforce in these captive units, on the other hand, is expected to double by 2025 and reach the 3-4 million mark.
“A majority of this net addition will come from talent absorbed from the IT Services sector," said Kamal Karanth, co-founder of Xpheno in an interview. “The desirability quotient of GCCs has grown over the years as they created a recall with their brand value and purchase power in the talent market," he said.
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For instance, a full-stack engineer with 4-7 years‘ experience is expected to get ₹18 lakh to ₹26 lakh per year in a GCC, compared to ₹15-24 lakh in an IT services firm. Similarly, data engineers and analysts get ₹12-22 lakh at GCCs, against ₹11 lakh-20 lakh in the IT services sector. The competition created by GCCs is visible from a sharp drop in offer acceptance rates faced by IT services employers last year. IT services firms were for the first time seen making counter offers and retention offers to talent wooed away by GCCs. The data showed that 23% of IT services sector talent has had one or more career movements during the 12-month period till July.
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