The market size and the job creation by Global Captive Centres (GCCs) as a sector is expected to see significant growth, states NLB Services’ latest report- India Captivating. According to the research report, GCCs will add close to 3.64 lakh jobs within the next 12 months and the sector will scale up from the current $35.9 to $60-85 billion by 2026.
“India Captivating” is a comprehensive research report from NLB Services, a multinational transformational workforce solution provider, covering the in-depth GCC ecosystem in India. The study throws light on the job creation trends, factors driving job creation, and skills and roles in demand.
- 78% of GCCs have set up operations in India in order to augment/create a superior talent pool
- 8% of GCCs believe that their workforce will double in the next 12 months
- About 3.64 lakh jobs are likely to be created by GCCs in the next 12 months (employment growth at 10.8% CAGR*)
- A spurt in service demand from key global markets is the reason 34% of the GCCs have an optimistic hiring outlook.
- 8% to 9% of all GCCs surveyed rate Data Science, Data Analytics, Data Engineering, Statistical Analysis and UI/UX Design as the most critical and in-demand skills.
- Python programming, Excel for analysis, and large dataset analysis via SQL/Hadoop are the most desired tech skills.
- 12% of the GCCs rate Communications, Critical Thinking and Interpersonal Skills as the most sought-after behavioural skills.
- Big Data Analytics Manager, with a payout of INR 20 LPA is the top job role GCCs are hiring for. IT Manager (INR 15 LPA) and Full Stack Developers (INR 14 LPA) are the other top job roles.
- 68% of GCCs have policy-driven initiatives to promote and hire for Gender Diversity. The remaining proportion indicates specific gender preferences.
- 67% of GCCs prefer hiring for ‘permanent’ job positions, while 21% prefer ‘temporary’ employment modes.
- For 22% of GCC respondents, Recruitment Process Outsourcing is the most preferred hiring model
Elaborating on the report, Sachin Alug, CEO, NLB Services, said, “India currently accounts for around 45% of the global GCCs in operations and this share is expected to grow further. But what is heartening to know is the transition in the way MNCs are looking at India. The sector is expected to see a 10.8% CAGR growth in employment in 2023 alone.”
“In India, the demand today is for niche digital and machine learning skills like data science, data analytics, data engineering, statistical analysis, and UI/UX design today indicating how the centres are evolving to strategic centres.” added Varun Sachdeva, APAC Recruitment & Business Leader, NLB Services
“India Captivating” is a detailed report sharing insights about the impact of Global Captive Centres (GCCs) on the Indian Staffing Ecosystem. The study surveyed 211 GCC companies across Banking, Financial Services and Insurance (BFSI), Healthcare & Pharmaceutical, Internet & Telecom, IT Software & Consulting, Manufacturing, Oil & Gas and Retail from Ahmedabad, Bengaluru, Chennai, Delhi/ NCR, Hyderabad, Kolkata, Mumbai and Pune.