For Global Capability Centres (GCCs), finding the perfect balance between cost and quality in talent acquisition can feel like walking a tightrope. On one side, there’s the pressure to keep costs down, on the other, the need for top-tier talent to drive business success.

Either failing to manage costs or compromising on talent quality – getting it wrong in either direction can have impactful consequences; leading to low ROI & yield.

So, how do GCCs strike the right balance between hiring high-quality employees and keeping recruitment costs under control? Let’s dive into a few strategic approaches that can help GCCs manage this challenge efficiently.

Leverage Local Talent Pools (early careers)

One of the most affordable strategies for attracting top talent is by leveraging local talent pools. GCCs are typically located in countries where labor costs are lower than in the parent company’s home country, such as India or the Philippines. But lower cost doesn’t have to mean lower quality. Many of these regions are home to highly skilled professionals, particularly in sectors like IT, engineering, and finance.

The key is knowing where to look. GCCs should focus on building relationships with local universities, vocational training centres, and professional networks to identify emerging talent.

Develop a Strong Employer Brand

Quality talent is often attracted to companies with a strong, positive reputation. This is where the importance of employer branding comes into focus. A strong employer brand can help GCCs differentiate themselves in a competitive talent market, attracting top-quality candidates without having to rely on high salaries as the main draw.

A strong employer brand highlights the company’s values, workplace culture, and growth opportunities. It also emphasizes the company’s commitment to employee development and well-being, which can be incredibly appealing to high-quality candidates.

The stronger your employer brand, the higher your chances of attracting top-tier talent. In some cases, you may even draw candidates who are willing to accept a lower salary because they resonate with your mission and values.

Focus on Upskilling and Reskilling

Why spend money hiring externally when you can develop talent from within? Upskilling and reskilling your current workforce is one of the most effective ways to balance cost and quality. Not only is internal hiring often less expensive than external recruitment, but it also helps foster loyalty and engagement among your employees.

By investing in upskilling programs, GCCs can fill skill gaps within their existing workforce, reducing the need to bring in costly external hires. Moreover, reskilling allows employees to transition into new roles as business needs evolve, giving you a more agile and adaptable workforce.

This approach not only saves on recruitment costs but also ensures that your team is constantly growing and developing, ready to meet future challenges head-on.

Leverage Technology & Automation

Technology has become a game-changer in talent acquisition. From AI-driven recruitment platforms to automated resume screening, leveraging the latest technology can help GCCs reduce the time and cost associated with hiring while ensuring they still attract high-quality candidates.

AI can be particularly useful for identifying candidates who match specific skill sets, saving recruiters the time and effort of manually sifting through resumes.

Partner with Specialized Recruitment Firms

At times, the most effective way to balance both cost and quality in hiring is by bringing in expert professionals. Partnering with specialized recruitment firms that understand the nuances of the local talent market can be a smart move for GCCs. These firms have established networks and can often find high-quality talent faster and more efficiently than an in-house HR team might be able to.

However, it’s essential to choose your partners carefully. It’s essential to choose a recruitment firm with a strong track record of success in your specific industry and region.

By outsourcing the recruitment of high-stake or hard-to-fill positions, GCCs can reduce the risk of hiring mistakes and cut down on time-to-hire, both of which save money in the long run.

Contractual Hiring for Non-Critical Roles

When it comes to non-critical roles or short-term projects, GCCs can balance cost and quality by opting for contractual hiring. Contract workers or freelancers can be brought in for specific tasks, allowing you to meet business needs without committing to long-term employment costs like benefits, pensions, or training.

Contractual hiring offers flexibility, enabling GCCs to scale their workforce up or down as required. This approach also allows for better management of cash flow, as you are not tying up resources in permanent salaries for roles that may not require full-time staff year-round.

By bringing in specialized contractors for non-core tasks, GCCs can focus their budget on hiring permanent staff for more strategic and business-critical positions.

Conclusion

Balancing costs and quality in talent acquisition is no easy task, but GCCS must build high-performing teams without overspending. Remember – it’s not just about cutting costs – it’s about being strategic in how you invest in your workforce to ensure both immediate and long-term success.