Salary Trends: GCCs Lead the Pack
The average salary increase in GCCs for 2024 stands at 9.9%, outpacing product companies (9.3%) and services firms (8.1%), despite being marginally lower than 2023’s 10.1%.
Top GCC Sectors by Projected Hikes:
- Retail/Consumer Packaged Goods (CPG) – 10.4%
- Healthcare & Life Sciences – 10.1%
- Banking, Financial Services & Insurance (BFSI) – 9.8%
- Travel & Transportation – 9.6%
The continued upward trend is fueled by the high demand for skilled professionals in areas such as technology, data, and enterprise support services.
A Shift Towards Non-Merit Based Adjustments
The report highlights a growing practice among companies to offer non-merit-based salary increases. These are not tied to individual performance but are designed to:
- Account for cost of living and inflation
- Align with,b> industry standards
- Help attract and retain top-tier talent
This signals a shift toward more strategic and inclusive compensation structures in a highly competitive talent market.
India’s Expanding GCC Footprint
India is witnessing a strong expansion in its GCC ecosystem, both in scale and scope.
By the Numbers:
- Current GCCs: 1,800+
- Projected by 2030: Over 2,400
- Employment in 2025: 2.1 million
- Employment by 2030: Expected to exceed 4.5 million
India is now home to GCCs of over 70 Retail/CPG giants, employing 85,000+ professionals . Notable global brands like BestBuy, 7-Eleven, Giant Eagle, Lululemon, Adidas, and Neiman Marcus have set up their Indian operations between 2020 and 2024.
Talent: The Strategic Advantage
Vikram Ahuja, Co-Founder of ANSR, emphasizes the strategic importance of talent in the evolving GCC landscape:
“As GCCs become core to enterprise strategy, the way they think about talent is continuously evolving — adapting to new business needs, technologies, and expectations. The GCCs that succeed will be the ones that treat talent as a true strategic advantage — combining agility, purpose, and a focus on future-ready leadership.”
“As GCCs become core to enterprise strategy, the way they think about talent is continuously evolving — adapting to new business needs, technologies, and expectations. The GCCs that succeed will be the ones that treat talent as a true strategic advantage — combining agility, purpose, and a focus on future-ready leadership.”
Attrition at Record Lows
The industry is seeing a significant decline in attrition, indicating improved employee engagement and retention strategies:
- 2023: 18.7%
- 2024: 16.9%
- Current: 12.6% — the lowest since the onset of the pandemic
This decline reflects the growing stickiness of roles within GCCs and the effectiveness of new retention frameworks.
Long-Term Incentives Drive Retention
GCCs are investing in Long-Term Incentives (LTIs) to ensure employee loyalty and satisfaction, especially among high-potential professionals with dual expertise in digital and domain areas.
Most Common LTI Instruments:
- Employee Stock Option Plans (ESOPs) – 71%
- Restricted Stock Units (RSUs) – 20%
- Stock Appreciation Rights (SARs) – 8%
LTIs are becoming integral to total compensation packages, underscoring the shift towards sustainable, performance-driven retention models
Conclusion: India’s GCCs Set the Benchmark
With a robust hiring outlook, competitive compensation strategies, and a strong focus on long-term value creation for employees, India’s GCCs are fast becoming the gold standard for global enterprise operations . As the ecosystem matures, companies that align their talent and compensation strategies with future business goals will be best positioned to lead the next wave of growth.
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