Latest News | Majority of GCCs in India Cite Talent Retention as Top Concern: Report

Mumbai, Jun 5 (PTI) Around 51 per cent of Global Capability Centres in India, which hosts over 1,700 GCCs, find talent retention the most significant challenge as demand for specialised talent grows, a report said on Thursday.

Talent retention is the most significant challenge faced by GCCs, with 51 per cent of respondents identifying it as their top concern, end-to-end HR solutions provider CIEL HR's 'CIEL Works: GCC - Talent Trends and Insights' report revealed.

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Following talent retention, 23 per cent respondents found regulatory compliance as a challenge, while 18 per cent said it was cultural difference and 8 cited infrastructure limitation as a growing concern, the report added.

The report is based on the data and analysis of 76,000 executives working in the GCC sector in India and 5,111 job postings from job portals.

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It further revealed that the GCC sector is witnessing significant talent mobility, with 52 per cent of the overall workforce open to work.

According to data, the disengagement or restlessness could be due to limited career growth, compensation gaps, or work-life balance issues.

This signals a competitive talent market, with risks of talent drain and increased recruitment costs. However, it also offers an opportunity for GCCs to attract top talent, it stated.

However, the report found that this trend varies notably across functions, with 55 per cent of product development professionals and 45 per cent of IT professionals expressing openness to new opportunities.

Additionally, 23 per cent of all executives who changed jobs in the last year belonged to the 'Product' category, underscoring the high mobility and demand for product talent, it added.

"The rising attrition and talent mobility demand a decisive shift from transactional approaches to holistic employee engagement. Today's workforce seeks more than pay, they want career progression, flexibility, inclusivity, and purpose. To stay ahead, GCCs must invest deeply in career development, strengthen employer branding, and build workplace cultures that foster trust, growth, and belonging," CIEL HR Managing Director and CEO Aditya Narayan Mishra said.

The churn is most acute among younger professionals where, early-career professionals (0-5 years) show the highest mobility at 47.6 per cent, driven by the pursuit of diverse experiences and rapid growth, followed by mid-level professionals (6-15 years) exhibiting a 42.9 per cent turnover, motivated by aspirations for leadership and greater responsibility, said the report.

Senior executives (16+ years) demonstrate the lowest mobility at 9.4 per cent, valuing stability and long-term impact, added the report. PTI SM

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)