“A ‘Great Place To Work’ fosters a High-Trust, High-Performance culture,” states Yeshasvini Ramaswamy, Chief Executive Officer, Great Place To Work® India emphasising the interplay of quality employee experience, trust within the organisation, effective leadership, and fair treatment in cultivating an ideal workplace. The methodology involves the Trust Index™ Survey, which she explains, “consists of five key dimensions – Credibility, Respect, Fairness, Pride, and Camaraderie.”
The impact of GCCs on India’s job market
This belief in comprehensive assessment frameworks has extended into the arena of Global Capability Centres (GCCs). According to Ramaswamy, the growing presence of GCCs in India has not only redefined the local job market but also amplified the scope for Indian professionals. Drawing from a NASSCOM report of 2021, she highlights that “GCCs in India employ over 1.3 million professionals,” contributing significantly to sectors like IT services, banking, and finance, amongst others.
“Beyond job creation, GCCs foster professional growth, positioning India as an attractive hub for global companies and innovation. Contributing to around 18% of India’s IT and BPM exports, GCCs drive economic growth and foreign direct investment. In essence, GCCs are transforming India’s workforce, enhancing economic prosperity, and cementing India’s place on the global innovation map,” says Ramaswamy, pointing out that GCCs have been instrumental in “upskilling the Indian workforce,” providing skill development initiatives and training programmes that are in tune with global best practices.
“GCCs have positioned India as a global hub for innovation and talent, making it a preferred destination for global companies due to the availability of a skilled workforce and a favourable business environment,” says Ramaswamy.
Also read: Top 5 On-Demand Job Roles And Their Salaries in GCC: Report
The Role of IoT and AI/ML
As industries gear towards digital transformation, Ramaswamy points out how technologies like IoT and AI/ML have revolutionised HR practices in India. However, she is quick to add a note of caution about the potential ethical implications and unconscious biases that may inadvertently come into play. ” IoT and AI/ML offer real-time data and automated decision-making. However, it’s crucial to protect employee rights, maintain data security, and combat potential biases in these systems. Regular audits and diverse data sets can help ensure equitable outcomes. Transparency is also key, with employees needing clarity about data usage and decision-making. Ultimately, by prioritising fairness, transparency, and inclusivity, organisations can maximise these technologies’ potential while minimising risks.
With the rapid digitisation of workplaces, ensuring inclusivity and collaboration within diverse demographics becomes paramount. “At our GCC, creating an inclusive, collaborative work culture is paramount,” says Ramaswamy.
“Our initiatives to evolve employees from Unintentional Leaders (Level 1) to For All™ Leaders (Level 5) have had notable results. As per the Top 100 India’s Best Companies To Work For™ 2023 report, there’s a marked improvement in job satisfaction. Data indicates a 56% increase in employees finding deeper work meaning and a 44% rise in aligning work with societal contribution. Moreover, 78% more employees feel authentic at work, and 71% positively view flexible time-off. These insights validate our efforts in elevating employee satisfaction, purpose, societal contribution, authenticity, and work-life balance,” Ramaswamy shares.
Also read: KPMG India’s E-Cube Strategy: Powering Talent Acquisition for Unbeatable Business Success
The Power of Diversity: Leveraging India’s Talent Pool
The diverse talent pool in India plays a pivotal role in sustaining development, and industries are leveraging this to their advantage, she adds. According to Ramaswamy, organisations in India are promoting diversity and inclusivity and striving to create a work environment that engages every employee. “By leveraging the diverse skills, perspectives, and experiences of our talent pool,” she notes, “industries in India are fostering innovation, driving growth, and achieving sustainable development.”
Beyond job creation, GCCs foster professional growth, positioning India as an attractive hub for global companies and innovation. Contributing to around 18% of India’s IT and BPM exports, GCCs drive economic growth and foreign direct investment.
Towards a sustainable and inclusive future
Looking to the future, Ramaswamy anticipates several trends for GCCs in India. The emphasis will shift towards purpose-driven organisations that align their business goals with societal impact. Sustainability will no longer be an option but a necessity. A sense of belonging will be a driving force for progress, and flexibility in work arrangements will be a default expectation.
As India’s job market evolves under the influence of GCCs and emerging technologies, Ramaswamy envisions workplaces that embrace agility, digital transformation, and a culture of continuous learning and innovation to navigate these changes.
