There has been a 21 per cent growth in jobs across the global capability centres or GCCs that have mushroomed across India. In fact, as per the foundit Insights Tracker for July, the GCC sector is set to expand by 12 per cent this year. And yes, the workforce in India’s GCCs has more of early-career talent, with 42 per cent of jobs in the 0 to 3 year’s experience bracket. That means there is a deluge of skilled freshers who allow employers to enjoy a cost advantage while they try to create scalable teams for technology, engineering and shared-services functions.
A whopping 91 per cent of GCC jobs are concentrated in the metro cities, but Kochi,
Coimbatore, Ahmedabad, Indore and Jaipur are amongst the tier-2 cities that are increasingly becoming the sought-after locations for companies wishing to set up GCCs. These tier-2 cities account for nine per cent of GCC jobs with 21 per cent YoY growth.
Mid-level professionals with experience in the range of four to six years are seen in 26 per cent of roles, contributing their significant bit towards the expansion of GCCs into digital
transformation and domain-specific work.
About 17 per cent of roles go to those with 7 to 10 years of experience. That means there is selective hiring taking place in areas where expertise is required and for project-management roles. Those with experience of 11 to 15 years are seen in nine per cent of the roles, while six per cent of the jobs are taken by those with over 15 years of experience.
The foundit data for July indicates a two-speed growth model, with metros continuing to serve as the backbone with scale and maturity, while tier-2 cities exhibit the fastest momentum.
About 35 per cent of GCC jobs are seen in Bengaluru (with 13 per cent year-on-year growth). This is because Bengaluru has probably the largest pool of skilled talent and a conducive and established startup ecosystem. Add to it the number of research and development (R&D) centres, and the city attracts a number of global firms.
Among the tier-1 cities, Hyderabad is the fastest-growing hub with 17 per cent year-on-year growth. The city is supported by friendly policies and sufficient number of healthcare, pharma and semiconductor providers. Pune follows with 11 per cent growth and Chennai comes after with eight per cent growth with a significant presence of GCCSs focused on engineering research and development (ER&D), automotive and manufacturing.
The Indian GCC ecosystem is led by information technology (IT)/ research and development (R&D), which account for 35 per cent of centres and 38 per cent of jobs, growing 12 per cent year-on-year. BFSI and fintech account for 22 per cent, followed by manufacturing and engineering at 13 per cent.