- War for talent
- New GCC set-ups in India and processes
- Pivotal role of technology
- Mitigation of emerging risks
- The growing GCC ecosystem
When it comes to future of work at GCCs, one aspect that clearly stands out is that the hybrid working model is here to stay, and that the future of work will be directionally more flexible. Today, GCCs are moving beyond their traditional ecosystem and adopting new skill sets pushed by industry-wide digitization, embracing new technologies such as cloud, AI/ML, data analytics, among others, and building a new partnership ecosystem. New concepts for GCCs are also emerging such as a ‘campus’ (extension of college and a mega hub), smaller hubs at different locations in India, among others.
War for talent
- The war for talent has become more critical than ever, with high attrition and an extremely competitive environment posing a major hurdle in front of the industry, especially as GCCs adopt to the exponential growth. The Great Resignation problem is real!
- More and more GCCs are looking at reskilling their existing workforce, as also upskilling/reskilling the campus hires to make them industry ready. Virtual, self-based programs, nano and micro learning, use of apps to track learning, learning competitions, etc. are now the new normal.
- Organizational culture is one aspect which has taken the center stage post the pandemic and a key factor in attracting and retaining talent. Today, GCCs are solving major fundamental problems by creating an innovation culture within their organizations, thereby encouraging the employees to think as if they are in a start-up company; think like they are the CEO of the company.
- GCCs are currently taking different measures for their employees to return to office, thereby creating a safe space for them. Some GCCs are also consulting with hospitality personnel to re-design their office keeping COVID related protocols in mind.
- GCCs are focusing a lot on Employee Value Proposition (EVP) in the post pandemic era. At the same time, focus on diversity and women in leadership are leading the way in the industry.
- Being location agnostic is the way forward in the talent story.
New GCC set-ups in India and processes
- Earlier India was more about cost advantage for new GCCs, but now there is a huge transformation on how jobs are being done, which in turn is changing the mind-set of companies that are setting up GCCs or planning to set-up GCCs in India. A large healthcare company stated that they founded their first GCC in India as an R&D / Innovation Center.
Pivotal role of technology
- Today, the traditional capabilities including back-office functions of GCCs are scaling up fast and technology has a key role to play there. Technologies such as AI, ML, RPA are taking the center stage in driving innovation at scale.
- By running structured programs on innovation particularly focusing on customer experience, a financial services company saw real business impact, thereby, positively impacting their topline growth.
- Data analytics is playing a key role for GCCs in India in tacking their talent, supply chain, finance, marketing, etc. related problems. Days to near fit are here… while days of perfect fit are gone.
- Many GCCs agreed that intrapreneurship is the way forward to drive an innovation culture while leveraging emerging tech to solve fundamental problems. GCCs are adopting hackathons, internal assignments, job rotation, among others, with technology as the bedrock to drive innovation within the organization.
Mitigation of emerging risks
- Digital security has come to the forefront with a large workforce connecting remotely every day. In the post pandemic environment, many GCCs have faced increased cyber-attacks. GCCs have taken numerous mitigation initiatives, including building up their cyber security teams, mandatory quarterly certification programs for employees around cyber threats to raise awareness, running attack/ phishing simulations, amongst others.
- Concentration risk is real, but just not from the GCC lens but largely from a location perspective. GCC Heads should be thinking-out-of-the-box here as the concept of the location doesn’t matter anymore, with work from home strategy coming into play. Also, the conversation of concentration risk needs to be more fact and data based.
The growing GCC ecosystem
- Today GCCs are hiring from services companies and in many cases are also partnering with them in their transformation journey.
- The value of partnerships have accelerated in the last two years. Be it working on large data lake projects or IoT projects for streamlining supply chain, GCCs are at the core of it.
- GCCs are increasingly seeing more value in working with an ecosystem, for example partnering with IIT for skilling future talent, partnering with start-ups to leverage emerging tech like metaverse, etc.
- The government has played a key role in harnessing and supporting GCCs in their rapid growth journey through vaccination drives enabling return to work, focusing on infrastructure development, ease of doing business, encouraging newer age / R&D / innovation focused companies to set-up their GCCs, among others.
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