October 11, 2011: Have anyone ever imagined that there will be Westerns, flying down to India for jobs?
Yes! It is true. There is a number of Expat (Expatriate) relying on Indian companies for job. Surprisingly there are around 40,000 Expat presently working in India at different organizations. The rate of foreign employees flying down to the country has been rated as 15 to 20 percent since previous year.
The reason for this drastic change is clear; it is the economic crisis in US and UK. The present situations in United States and European countries are pathetic. The amount of jobs cut has been increased and people are finding it quite difficult to survive. US based companies are more concern to reduce cost, and presently focusing on rely entirely either on outsourcing operation to cheaper destinations or depending on shared service models.
We could find innumerous numbers of Indian companies in the Automobiles and Pharma sector that appreciate hiring foreigners. We could find many in the Finance and banking services even. Such employees are paid handsomely as the experiences of highly skilled professionals from foreign countries are considered as an additional benefit for the company. Even in India there are immense well educated work forces available, but the nation lack employees with specialized skill sets due to technological and financial disadvantages. To be benefited from such experience holders Indian companies are ready even to offer up to $250,000 per annum. Most of the Expat are offered with leadership roles to be played with immense responsibilities. There are Expat who have been appointed in managerial level and departmental heads as well.
Rituparna Chakraborty, Vice president of TeamLease commented on the trend in the nation after recession in 2008. According to the vice president Indian companies has become more conscious about the advantages available by appointing foreign employees and thus the demand for foreign employees with enough experience was there from recession in 2008. But today the situation is different where the trend is drastically increasing and more foreigners are egger to fly down to India and grab a good opportunity in the nation.
The present situation is appreciable; it showcases India as a rapidly growing economy worldwide. But, the question is will these Expat be able to continue for long in the country. Even though the Indian experience is an added benefit for the foreigners in their carrier and are also paid very well, many finds it difficult to continue in the country for long. It is quite difficult for migrates to handle the cultural difference and communication issues.
Recruiting third country national is not a new thing in the global market. Today demand for Expat is pretty high in sectors such as infrastructure, healthcare and many other major sectors such as oil and gas. Even sectors such as travel & tourism, aviation and sports are also demanding for foreign professionals. According to experts the trend is to increase in the coming years. The only consciousness Indian companies should maintain is towards the attrition rate of Expats which is calculated to be 10 % every year.