Rica Bhattacharyya, The Economic Times

MNCs now offer best salary package to seasoned professionals to scale up their GCCs in India

According to a recent article by Rica Bhattacharyya posted on The Economic Times which talks about Industry leaders report that talks about how multinational corporations are offering substantial compensation packages to recruit experienced professionals for their global capability centers (GCCs) in India. Over the past two years, there has been a noticeable increase in GCCs offering annual salaries ranging from Rs 3-6 crore to specialized leadership talent.


Multinationals are increasingly lining up top dollar offers in a bid to attract seasoned professionals who can help rapidly scale up their global capability centres (GCCs) in India, said industry executives.


The proportion of GCCs paying Rs 3-6 crore a year to niche leadership talent has grown over the past two years as the captive units have risen up the value chain with an increasing number of strategic leadership and global roles based out of India, according to search firms and company executives.


In addition, these units are trying to shed the “back office” stereotype to attract senior professionals from across industry sectors, they said.


About 16-18% of the large GCCs hiring for leadership positions are offering their top executives in the Rs 3-6 crore a year range, up from less than 10% about two years ago, according to compensation data from executive search firm Xpheno.


Salaries of managing directors or country heads of some of the larger GCCs have reached the $1 million mark (about Rs 8.3 crore) with maturity and increase in the capacity of the centres, said people in the know.


Salary packages at some corner offices have nearly doubled in the past three-four years, they said.


Over the last couple of years, GCCs in India have been turning into business drivers for the global multinationals from the earlier back-office operations for delivery of services, said Siddharth Verma, head of executive search at Xpheno.

Senior talent with knowledge of artificial intelligence (AI), machine learning (ML) and other emerging technologies are the most sought-after, according to those in the know. Companies are also looking to attract talent from the pool of Indians in the US and Europe who may be willing to relocate, they said.


“GCCs are prioritising professionals with skill sets in AI and ML. Earlier it was good to have skill but now it is more of a must have for many of the CXO roles for which we are also looking at the returning Indian talent pool,” said Meenakshi Thakar, partner at Transearch India.


Jaspreet Singh, partner, Grant Thornton Bharat, said, “The salary hike for senior roles in global capability centres in India is driven by increased demand for highly skilled professionals due to the expansion of GCCs into more complex tasks like AI and digital transformation.”


According to a survey conducted by ANSR, a consulting company that helps build and scale up GCCs, more than 90% of the GCCs in India plan to harness the potential of AI, ML and cognitive computing technologies in the next two-three years. More than $60 billion is projected to be spent on AI and integration in the next three years, while AI could potentially contribute $150-275 billion in operating profits across retail, travel and financial services GCCs, it said.

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