The study reveals a significant concern for Global Capability Centres (GCCs) in India, where talent retention has become a key issue. As the market for skilled professionals tightens, GCCs are faced with rising attrition rates and a need to enhance employee engagement.
Key Insights
- About 52% of GCC workers are contemplating new job opportunities.
- 51% of GCCs cite talent retention as their primary challenge due to increasing job-switching.
- Entry-level roles have decreased from 32% to 22%, while mid-senior roles have risen significantly.
- There’s a surge in demand for professionals skilled in AI, machine learning, and cloud technologies.
- GCCs are offering 12% to 20% higher salaries than traditional IT services to attract talent.
Content Summary
The study conducted by CIEL HR highlights the pressing challenges that GCCs in India face concerning talent retention. Notably, a growing percentage of the workforce is exploring job opportunities elsewhere, driven by evolving job roles and an increased demand for skilled professionals. Specifically, the study notes that while entry-level positions are decreasing, mid-senior roles are gaining traction, leading to a need for talents accustomed to advanced technologies like artificial intelligence and machine learning.
As talent needs grow more specialised, GCCs are feeling the heat in attracting and retaining top professionals. Compensation has become critical, with GCCs offering significantly higher salaries to lure in the best candidates. However, experts underline that simply offering high pay is not enough; organisations must enhance employee engagement, career development opportunities, and workplace culture to hold onto their talent.
Context and Relevance
This article sheds light on a trend affecting many industries today—retention of skilled employees. In an economy where talent is increasingly scarce, especially in tech-forward sectors, understanding these dynamics becomes crucial for organisations looking to maintain a competitive edge. As GCCs play a pivotal role in global innovation, their ability to adapt to these shifts will be vital for their success.
Why should I read this?
This article is a must-read if you’re in the talent management or tech recruitment space. It outlines the urgent need for GCCs to rethink their engagement strategies in a rapidly changing workforce landscape. Trust us, by keeping your finger on the pulse of these trends, you can save yourself a lot of future headaches in hiring and retention!