The demographic dividend and presence of a large talent pool are attracting several global capability centres (GCCs) to India. This is also leading to a demand for more leadership roles at these offices.

India accounts for nearly 50% of the world’s global capability centres and is emerging as one of the sought-after markets for talent acquisition and digital transformation, says Dhriti Prasanna Mahanta, Vice President, TeamLease Degree Apprenticeship.

“The dominance is only set to intensify, as the next five years will see a bull run for the GCC economy. The number of GCCs is all set to increase to 1,900 by 2025 from 1,580 now. Over the next five years, the market is poised for remarkable expansion, projecting an impressive 144% growth, elevating the market size to a staggering $110 billion from $45 billion, creating many opportunities for growth. In 2023 alone, 8% of GCCs were expected to double their workforce, creating approximately 364,000 new jobs.”

Emerging leadership roles

Vikram Ahuja, Co-Founder of ANSR and CEO of Talent500, says the world will see some of the biggest multinational enterprises across a diverse range of industries being led by global leaders from India. “According to various industry reports, 2024 will see as many as 60-plus CIOs and SVP leaders that are based in India from various GCCs, spearheading their functions at a global level. Currently, the India-based GCCs boast a workforce of over 5000 professionals holding global roles, with a projected expansion to reach 30,000 by the year 2030.”

These factors have added a strategic thrust to harness India’s global talent pool, especially in software, Internet of Things, BFSI, chemicals and materials, and retail sectors. More than 5,000 global opportunities were open for hiring in 2022 itself, and the number is expected to increase further with more ascent for offshore centres, says Mahanta.

Sector-specific demands for leadership roles will also be seen in manufacturing, infrastructure, financial sector, healthcare and hospitality, says Meenakshi Thakar, Partner, TRANSEARCH India-Professional Services, BPO and Analytics. She says these segments are gaining momentum in India. “The only sector with potential saturation is the financial services, given their existing substantial presence.”Ahuja says the shifts in functional ownership within GCCs, spanning functional, product and application domains, have paved the way for an expanded leadership landscape. “These leaders, orchestrating global strategies with teams worldwide, are stationed out of GCCs. For example, the Bangalore GCC of a US home improvement giant boasts 120 director-level and above leadership positions, with only a fraction exclusively India-centric. This ‘one-in-a-box’ style of leadership, where a single Indian leader has the front seat in a cockpit and is directing every aspect of the functionality across the globe is going to be one of 2024’s top GCC trends,” he says.

Skills for the roles

GCC leadership is starkly different from leadership at a traditional enterprise and necessitates skills for managing both commercial and technical aspects. Therefore, a techno-commercial candidate is always more preferred for GCCs.

Secondly, says Thakar, there is a crucial emphasis on leaders with an innovation-driven mindset. Businesses are looking for individuals who exhibit solution-oriented capabilities to navigate the rapidly evolving technological landscape. The third prerequisite is for individuals with an entrepreneurial mindset — those who are solution-oriented and adept at creating added value for clients while contributing to the growth of the GCC.

Leadership roles at these hubs also mean assuming the role of a cultural bridge between the enterprise and the centre of excellence. So a key skill is management of stakeholder expectations in India and abroad. “In my experience, stakeholder management is paramount, and often the decision maker where all technical expertise is met. This clearly indicates that for GCCs, leadership traits, particularly soft skills, are non-negotiable. Candidates who can adapt to change, while growing their teams, and giving equal importance in achieving high-quality services and operational excellence are the ones who are making it to the top tier,” she adds.