Economic Times stated in a recent article that according to data from specialist staffing firm Xpheno, this fiscal year, top Global Captive Centers or GCCs based in India across sectors such as banking, financial services and insurance (BFSI), pharmaceuticals, retail, energy, automotives, and telecom are set to increase their in-house teams as much as half a million gross new hires, including hiring to backfill gaps from attrition.
In today’s data-driven world, organizations across various industries are leveraging data science, machine learning, and data engineering to gain a competitive edge. As a result, there is an increasing demand for skilled professionals in these domains. GCCs, or captive offshore centers that are wholly-owned subsidiaries of multinational companies in countries such as India with a talent pool and cost advantages play a pivotal role in delivering value-added services to their parent organizations. To meet the growing talent requirements in data science, machine learning, and data engineering, GCCs should consider augmenting their talent hiring strategies by collaborating with data science and machine learning service providers such as TransOrg Analytics. Putting together an A-team requires significant time, costs, and effort, and in this blog post, TransOrg Analytics will explore the hows and whys of this strategic collaboration.
The Talent Crunch Challenge
GCCs face numerous and demanding challenges in sourcing and retaining top talent in data science, machine learning, and data engineering. The competition for skilled professionals in these fields is fierce. GCCs often need help attracting and retaining the right talent due to factors such as location, competition from tech giants, and limited talent pool size. Lateral or experienced hires are tough to crack, while training and operationalizing freshers or campus hires takes a while. Working with data science and machine learning service providers offers a solution to overcome this talent crunch challenge since companies like TransOrg Analytics have a ready pool of local-based talent that can be deployed in a few days.
Access to a Diverse Talent Pool
Data science and machine learning service providers specialize in these domains and have extensive networks and talent pools. By partnering with them, GCCs can tap into this vast talent pool, gaining access to a diverse range of qualified professionals with specific skill sets. This collaboration allows GCCs to select candidates with the right expertise, experience, and cultural fit, ensuring a higher likelihood of successful hiring. TransOrg Analytics has a team with experience across various sectors, markets, and business use cases. Depending on the client’s requirements, specific skilled people can be brought onboard quickly to reduce project costs and timelines.
Hiring processes can often be time-consuming, leading to delays in project timelines and increased costs. Data science and machine learning service providers possess efficient hiring processes and extensive expertise in evaluating candidates’ technical skills. At TransOrg, we diligently review our clients’ job descriptions and requirements, meticulously screening applications to identify the most suitable candidates. Our aim is to significantly reduce talent screening time and ensure that our clients receive the best-suited individuals for their needs.
Hiring and training skilled professionals in data science, machine learning, and data engineering can be costly. Collaborating with service providers can help GCCs optimize their costs. These providers have already invested in talent acquisition, training, and infrastructure, allowing GCCs to benefit from economies of scale. By leveraging this shared infrastructure, GCCs can reduce operational costs, making it an attractive option for companies looking to optimize their talent acquisition budgets. For example, by working with TransOrg Analytics GCCs need not inflate their wage and training bills and pay only for the talent they augment from TransOrg.
Mitigating Hiring Risks
Making hiring decisions is a crucial aspect of ensuring the success of an organization. It becomes particularly challenging for GCCs when assessing candidates’ skills, especially when they require expertise in data science and machine learning. By partnering with service providers such as TransOrg Analytics, GCCs can leverage their technical expertise and experience in hiring for these domains. This collaboration helps mitigate the risk of making incorrect hiring decisions and ensures that GCCs onboard candidates with the right skill set and capabilities. For example, a CPG-industry GCC needed support in operationalizing the migration of its dashboards and reports to PowerBI and TransOrg was able to provide the resources within a week to support the client.
Flexibility and Scalability
Data science, machine learning, and data engineering projects frequently entail diverse requirements, necessitating adaptable and scalable talent acquisition. Service providers specializing in these fields are well-prepared to handle fluctuations by providing flexible staffing solutions that can easily scale up or down based on project demands. This partnership empowers GCCs to optimize their resource allocation, ensuring they have the right talent at the right time, while avoiding the cost of maintaining an oversized workforce during lean periods. Many tech companies and GCCs are plagued by bloated teams that may not possess the right skills. However, by working with TransOrg Analytics, they can deploy teams for a short duration, go for blended teams with diverse skills, and scale up or down the team size, composition, and project duration as required.
Knowledge Transfer and Upskilling Opportunities
Collaborating with service providers such as TransOrg Analytics opens knowledge transfer and upskilling opportunities for GCCs. These providers often possess industry-leading expertise and stay updated with the latest trends and advancements in data science and machine learning. GCCs can leverage this collaboration to foster a culture of continuous learning and development within their organizations, enabling their existing teams to upskill and stay at the forefront of technological advancements. For example, TransOrg Analytics supports a large global financial services provider in its credit card divisions. It has brought its industry learnings and solutions in fraud and risk analytics, dovetailing client’s in-house team’s solutions with its own. The result is finer ML-based models, more robust and accurate.
Global Captive Centers must explore innovative approaches to enhance their talent acquisition strategies in today’s fast-paced and highly competitive business landscape. Collaborating with data science and machine learning service providers such as TransOrg Analytics offers numerous advantages, including access to a diverse talent pool, faster time-to-hire, cost optimization, mitigating hiring risks, flexibility, scalability, and knowledge transfer opportunities. By leveraging the expertise and resources of these service providers, GCCs can accelerate their growth, drive innovation, and gain a competitive edge in the market. Embracing strategic collaborations is the key to thriving in the ever-evolving landscape of data science, machine learning, and data engineering.
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