Global banking major Citi reportedly plans to hire at least 5,000 employees at its solution centres in India over the next two years, according to Sara Wechter, Citi’s head of human resources.
This move comes as part of Citi’s strategy to focus on areas such as technology, engineering, analytics, AI, and risk. With this expansion, India will become the second-largest employee base for Citi outside of the US, and the largest Citi Solution Centre (CSC) outside of the US, she said in an interview with the Economic Times.
Still Betting Big On India
She added that despite Citi’s recent exit from its consumer banking business in India, the company remains committed to India as an essential talent pool and a crucial market for its institutional business. Wechter emphasized that India continues to be of strategic importance to Citi, and they plan to maintain a strong presence in the country.
Citi’s solution centres in India have seen a significant shift from operational roles to technology and analytics in recent years. Wechter noted that this trend will continue, with a focus on leadership roles and regional leadership positions in India. She highlighted India’s economic and political stability, projected growth rate, and the presence of skilled talent in various sectors as key factors driving Citi’s continued investment in the country.
AI Will Shape The Job Market
Discussing the impact of artificial intelligence (AI) on the job market, Wechter acknowledged that AI will change the nature of work and the roles individuals perform.
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Citi is actively exploring AI applications and evaluating the feasibility of implementing AI technologies both internally and externally. While she said AI will undoubtedly shape the job market, Wechter emphasized that Citi’s focus is on adapting to these changes and ensuring the right talent is in the right places.
Recognising Post-Pandemic Changes To The Workplace
In response to the challenges posed by the COVID-19 pandemic, Citi introduced flexible work options for its employees, including hybrid, remote, and resident roles. The majority of Citi’s workforce falls under the hybrid category, working three days in the office and two days remotely. Wechter stressed that the flexibility offered by these work options has been crucial in attracting and retaining top talent, promoting diversity, and accommodating the changing needs of employees.
Overall, Citi’s plans to expand its employee base in India, particularly in technology and analytics, reflect the company’s commitment to harnessing India’s talent and driving its digital strategy forward. The move also signifies Citi’s confidence in India’s economic stability and growth potential as a key market for the banking industry.
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