Talent is the largest component of most IT budgets, and you need to be able to find the best balance of cost and capabilities with your pool of talent BEFORE times get tough.
This is where Strategic Talent Management comes in. Strategic Talent Management simply means separating your talent into three layers:
A low-cost layer in a Virtual Captive or Managed GIC which typically costs between $15-20/per hour and is the best place for all baseline support costs.
The second layer is your internal team, which is the next most expensive source of talent.
The third layer is the flex consultant and contractor layer. This is usually the most expensive source of talent.
Using a Virtual Captive can help reduce IT costs by using talent strategically. By using the lowest cost external talent available, you can save on costs while still maintaining the quality and experience you need.
India is a talent-rich location that’s home to a large, young population. The IT-ITES industry is one of the country’s major employers, and this talent pool is also supported by a growing young population.
Since India has the second largest English-speaking population in the world, global operations tend to run smoothly across offices.
Even though a subset of India’s vast talent pool working in the GIC environment may have some skills in common with their peers in the IT industry, they differ significantly at a core cultural level. This talent pool has some of the following differentiators:
The most important thing to remember is that you should try and use a Virtual Captive for as much as possible. What this means is that you shouldn’t put all your eggs in one basket, so to speak, by having all your talent in the most expensive layers. This is referring to Internal talent and consulting talent. The reason why this is important to remember is because if times ever do get tough, and you have to cut staff or reduce capabilities, you will have already spread out your talent so that not everything is lost at once.
Virtual captives have the potential to dramatically reduce your IT costs. By being strategic about how you use talent, you can make sure that your IT cost optimization strategy is as effective as possible.