Jul 13, 2004
Egon Zehnder reports in their Executive News Service
"Foreign executives seeking valuable work experience in a developing
market are flocking to India, reversing the trend of Indians
looking for jobs overseas. For fast-track executives in large
multinationals, Indian market experience is becoming critical,
report Malini Goyal and Stephen David in India Today. The New
Delhi office of management consultants Egon Zehnder International
receives around 20 resumes a month from foreign executives seeking
posts in the country. 'Foreign jobseekers suddenly seem to have
discovered India,' explains managing partner Rajeev Vasudeva.
Improved working conditions and standards of living in India
mean that expats are now finding workplaces and job profiles
comparable to those in Europe. India also offers foreigners lifestyle
benefits they could never hope for at home, note the authors.
Companies face a 20-30 percent payout for foreign managers after
relocation, special perks and matching their previous salaries.
However, this may be justified in high-turnover industries like
call centers, for example, where expats are more likely to complete
their term of employment. There is also a growing interest in
India at the graduate level, with its IT reputation, economic
growth and promising job market. After the exodus of Indians
joining multinationals overseas, the influx of foreign jobseekers
should boost the country's credentials, conclude the authors."
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