This story is from July 22, 2016

India shining, but global glitter still hard to resist

The lure of an overseas job has grown over the last five years despite the global slowdown and India's growing stature as an emerging market. A substantially higher number of Indian employees, if given an opportunity, will take the next flight to NYC than land a posting in NCR.
India shining, but global glitter still hard to resist
The lure of an overseas job has grown over the last five years despite the global slowdown and India's growing stature as an emerging market. A substantially higher number of Indian employees, if given an opportunity, will take the next flight to NYC than land a posting in NCR.
NEW DELHI: This may offer a contrarian view to a compelling ‘India Shining’ narrative. A substantially higher number of Indian employees, if given an opportunity, will take the next flight to NYC than land a posting in NCR. And the lure of an overseas job has grown over the last five years despite the global slowdown and India growing in stature as an emerging market.
According to a Randstad survey, 85% of the respondents are keen on working abroad, of which 88% are women.
In a similar survey conducted by Randstad in 2011, 74% of the respondents had expressed their willingness to move abroad for a job.
So, why still the foreign fascination? Bhaskar Chakravorti, senior associate dean, The Fletcher School, Tufts University, offers an explanation. One, there is an evident slowdown in economies across the world, including emerging markets. “Even economies such as India that are experiencing a rare burst of growth do not hold a promise that this growth is going to last and lead to exciting new jobs. The alternative is to look elsewhere beyond one’s home market with the hope that somehow the grass is going to be greener on the other side,” said Chakravorti.
Why the fascination for foreign-Infographic[3]

Second, business is increasingly becoming internationalized and some dynamic opportunities are opening up in new markets outside India. Information technology, too, is making people more aware of life beyond the boundaries of one’s home country. “Naturally, it creates a desire to visit and work in these places,” said Chakravorti.
Siddharth Shekhar Singh, associate professor of marketing, Indian School of Business (ISB), said: “Earlier, going abroad for higher earnings and better lifestyle was desired because India offered few opportunities. Although India is a different place now, the old perception continues by and large, and perceptions take time to change. It is noteworthy that not everyone wants to go abroad for more income. Better lifestyle, equal opportunity for all, and lower crime are other reasons. And these remain issues of concern in India.”

Moreover, in a globalised world, many believe that some work experience abroad combined with the experience in India might open better opportunities, according to Singh. So companies, too, are being advised to create a global work environment if they wish to retain top professionals. An old hierarchy-driven structure does not appeal to a global manager.
Moorthy K Uppaluri, CEO, Randstad India, said: “The perception is that the top of the pyramid wants to come back to India while the base of the pyramid wants to go abroad for work. The value proposition at the base of the pyramid is higher than at the top of the pyramid. There is more value for youngsters because they get exposure, learning and monetary benefits.”
While there is no particular reason why more women want to go abroad than men, HR experts said it could be attributed to rising consciousness among organizations to attain a gender balance which could make it more attractive for women to work in global companies.
Over the years, as the Indian market opened up and the services sector grew at a faster pace, it created better job opportunities for Indian managers. There are times when the reverse phenomenon — returning Indian managers — too is evident, especially in sectors like IT and financial services.
Some of the key sectors that continue to attract Indians are IT, accounting and financial services, consulting, healthcare and oil & gas. In the IT domain, tech professionals abroad make anywhere between 2-and-a-half to 4 times of what their Indian counterparts would make. However, given the notable difference in purchasing power parity, the real difference would be significantly lower, said HR experts.
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About the Author
Namrata Singh

Namrata Singh is editor - business trends at The Times of India, Mumbai. She specialises in sectors like fast-moving consumer goods (FMCG), consumer durables, retail and the green economy. She closely tracks corporate groups like the Birlas, in addition to stories on consumer trends.

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