Uncertainties triggered by the pandemic, family proximity and competitive compensation packages are some of the reasons for Indian nationals to return to the country and look for job placements.
According to data collated by Russell Reynolds Associates on leadership candidates placed by the firm in India in the last four years, in 2021, 17% of the Indian nationals returned from a job abroad. This datapoint is the highest in four years, with the average from the previous three years being 12%.
Russell Reynolds Associates, an executive search and leadership advisory firm, found that these individuals were most likely to return to roles within the industrial and natural resources sectors. In the past four years, this sector has attracted 47% of the returnees with jobs. The technology sector was a distant second, attracting 19% of the returning Indian nationals, followed by the consumer space at 17%, healthcare at 11% and financial services at 6%.
Russell Reynolds Associates MD Puneet Kalra told TOI: “The pandemic has changed the workforce dynamic drastically in India. There is a greater desire for employees to be ‘home’ and closer to family. We observed that several companies are more accepting of talent for global roles that are based in India. This trend combined with a robust stock market is leading to positive sentiment and higher buoyancy amongst Indian companies to hire the best, irrespective of where employees are located. In addition to this, many startups in India have created a demand for global tech talent with experience.”
The trend is not restricted to any particular geography. A large section of the returning Indian nationals came from the EMEA — Europe, Middle East, Africa — (39%) region, followed by 33% from Asia-Pacific and 28% from Americas.
Aditya Birla Group director (HR) Santrupt Misra said: “India has become an exciting place to return to. Within our group, we are seeing this trend grow among executives opting for roles in India.”
Misra said a combination of factors supporting this trend. “Over the years, there has been an unmistakable trend of a shift in manufacturing from the West to the East. In the last two years of the pandemic, Indians who were located abroad realised the need to be closer to their families. India has also seen strong political stability over the last two decades. There’s wealth creation happening with the startup world driven by private equities, and even compensation levels are much better,” he said.