India has become a global hub for MNCs to set up their Global In-house Centers (GICs) because of its rich talent pool of skilled talent available at extremely competitive compensation packages. According to the Decoding Jobs 2023 report, India currently accounts for about 45% of the world’s GICs which collectively generate annual revenues of over USD 33.8 billion.
In the coming years, this number will only increase, with NASSCOM predicting the addition of 500 more GICs to the existing tally of 1500 by 2026. The industry is expected to see a growing demand for professionals skilled in relatively new technologies such as AI, IoT, and 5G, creating about 300,000-350,000 new opportunities.
However, one key challenge here is the availability of talent. GICs are hubs of excellence and require professionals skilled in the latest digital skills and technologies. The talent sought by GICs has a limited pool, and companies have to face fierce competition for hiring such talent.
One way GICs can onboard such talent early on and stay ahead of the curve is by building relationships with colleges and universities through campus collaborations. In this article, we will explore the hiring challenges faced by GICs and how campus collaborations can prove to be a successful recruitment strategy.