It's no longer a tale of how major IT firms, insurance companies and banks of the United States and Britain are shifting jobs to India to cut costs.
Even before these countries could absorb the shock of seeing hundreds of both low-end and hi-tech jobs shifting to India, a different type of crisis is lurking in the horizon. They are on the verge of losing some bright professionals to India also!
According to Indian human resource consultants, every week there are enquiries from American and British software professionals and managers seeking jobs in India, as many firms in the West are moving work to increase their competitiveness.
"Lot of foreign nationals are looking at mid-level and senior level positions in India. Every week, we get at least one well qualified foreigner looking for a job here," executive recruiting firm, The Head Hunters (India) Pvt Ltd founder CEO and managing director Kris Lakshmikanth told reporters in Bangalore on Monday.
As several IT product firms are setting up shop in India, experienced professionals from the US are also on the lookout for jobs here and the trend is being witnessed by the top tier recruitment firms, he said.
"Last year, it was Indians abroad who were shifting to places like Bangalore. Since the last six months, it is the foreigners and all the top recruitment firms are getting inquiries," said Lakshmikanth, who is the organising committee chairman for the first National Recruitment Conclave-2004, being organised by Executive Recruiters Association in Bangalore on February 21.
He said a call centre located at New Delhi has employed Finnish people to answer queries for a leading travel portal in Europe.