The Role of Talent in Enabling Business Transformation, Innovation and Excellence in GCCs
As of FY 2020, India was home to over 1300+ Global Capability Centre (GCC) organizations, employing more than 1.3 million and contributing US$33.8 billion in gross revenue (NASSCOM 2021). This accounts for more than 45 per cent of the GCCs in the world. India is one of the preferred GCC destinations due to the presence of a unique ecosystem, including academic community, start-ups, access to talent, and support from the government.
Having started for cost arbitrage, today they have blossomed into technology hubs, helping drive the transformation agendas of their respective parent organizations. They conceptualize new products and services based on evolving market needs. And these innovations leverage cutting edge solutions to business challenges and digitalization using emerging digital technologies. Clearly, the work that is being done by the GCCs here, in India, is impacting global business in radical ways, and provides strategic advantages.
An unequivocal differentiator for the GCCs is talent. And developing and nurturing talent is and will continue to be one of the critical challenges GCCs face, as they plan to transform. As GCCs aspire to become “business partners” in shaping the overall organisational strategy itself, digital transformation and process innovation are the key levers to master. Digital skills for the entire workforce along with full stack development, software engineering, cloud, analytics, AI and ML are clear priorities for the GCCs. GCCs in India is clearly poised for greater growth. It is expected that India will have over 1900 GCCs with employment of more than 2 million people by 2025.