This 175-Yr Old Company Will Hire 100% More Employees In India; Double Workforce In 2-3 Years!
Deloitte Touche Tohmatsu Limited, commonly referred to as Deloitte, is a British multinational professional services network. Its a global network of member firms and their related entities though each of them are legally separate and independent entities. Deloitte operates in about 150 countries with more than 300,000 professionals.
Deloitte is currently in the news due to its plans to double its 55,000 strong workforce in India over the next two to three years to tap the talent pool India offers at the 18th edition of Hindustan Times Leadership Summit on Thursday.
Deloitte’s Global CEO Punit Renjen said that the expansion of workforce is expected to boost not only services to domestic customers but also services exported from India.
This comes as a relief as in this pandemic we major contractions in employment and job losses as businesses remain shut and people stuck inside their homes.
“All eyes on India”:-
This decision to expand its workforce is in part due to the talent arbitrage that India offers, according to Renjen.
“We have 55,000 individuals who serve the most prominent clients and government in India and the world from India. We have centres in Hyderabad, Gurgaon and Pune that serve the world. Our plans over the next two to three years is to double that workforce. It is partly because of the talent arbitrage opportunity,” he said.
Renjen said that as the global business leaders rework their business strategies for the new normal created by the pandemic, they all do see India’s potential.
While referring to the talent pool and demographic dividend India has, he added that “This is the Indian century. Many are bullish about India” .
“Every business and chief executive officer I speak to are going to reassess and re-engineer their supply chains. It is an opportunity for India. India aspires to be a $5 trillion economy. We are certainly fully on board with that notion. I think it is an opportunity for India to get some of the supply chain to relocate to India,” said Renjen.
The Narendra Modi administration’s attempt is to steer the economy out of the recession by boosting manufacturing activities which will also add more jobs and attracting global investors to set up local production units by offering incentives and by reforming policies as a government strategy is endorsed by Renjen.
Addressing and adapting to the “The new normal”:-
The pandemic has proved to be “a wake up call for us to address climate change, social and racial justice and income inequality” said Renjen.
Calling the pandemic as a disruptive force, he said, that it has impacted the way we work, live and consume but it has also reaffirmed the power of technology, particularly in digital, cyber and cloud domains. Most companies have adapted to the new normal and are recovering according to him.
Renjen said that Deloitte will also make major steps to give back to the community, adding that one of Deloitte’s purpose was to serve the community besides serving its customers.
He said that Deloitte is evolving a hybrid model of online and offline working practices.