EY India plans a hiring spree in the thousands
EY has become the latest of the Big Four accounting and advisory firms to emphasise the importance of India as a market in its global network. The firm has announced plans to hire in excess of 23,000 professionals in India by next year, 11,000 of which have already been placed on the rolls.
The new recruits will add to EY existing base of 50,000 professionals across India, and most new hires are expected to be finalised by the end of the financial year in June 2020. The hiring drive will make EY India’s workforce the second largest for the firm outside of the US market.
EY joins other members of the Big Four in going on substantial hiring sprees in India. Deloitte announced earlier this year that it plans to double its Hyderabad workforce to reach a total of more than 80,000 professionals, which was followed by a declaration by the firm’s global CEO that India will become a focal point for the firm’s global operations.
Similarly, KPMG also made clear its plans to recruit in the thousands over the next few months. Most of this hiring across the advisory space appears to be a reaction to the spike in demand for digital services. This is evident from the fact that more than half of the new recruits for EY over the next year will have a background in the science, technology, engineering and mathematics (STEM) domain.
Industry 4.0 has well and truly arrived in the Indian market, and businesses are looking for support when strategising their investment in technology. The advisory space is rushing to accumulate a talent pool sufficient to meet the rapidly growing demand for specialised services.
The Big Four have been engaged in sharp competition for talent as a result. EY’s recruitment drive comes amid a time of pressure for the Big Four in India, after many have come under regulatory pressure for failures and lapses on previous projects. The firm is looking to maintain its momentum and consolidate its presence across India.
Commenting on the firm’s expansion plans, EY Managing Partner for the EMEIA region Julie Linn Teigland said, “We see India as an amazing base to service our business throughout the world, from a tech perspective, a process perspective and also the human talent element.”
“India has one of the most educated workforces, especially when it comes to the STEM fields, and we would be crazy not to leverage that across the globe. We’re going to continue to invest in this business and ensure that we have a fair market share.”
