India is the world’s largest democracy and the sixth-largest economy in the world. Though the COVID-19 pandemic has affected the employment rate, lots of companies have started hiring skilled professionals.
According to the Manpower Group employment outlook survey, the employment trend across the country is expected to rise in 2021, with a net employment outlook of 5%.
There are over 50 million Expats globally. Most of the hiring of expatriate workers in India is done at the senior levels in multinational companies (MNCs).
Who Is an Expat?
An Expat (short form for expatriate) is someone residing in a country other than their native country. For instance, all the Indians working in the US (using H1-B visas) are known as Expats. Similarly, foreign nationals working in India are known as Expats.
In India, there are over 90,000 Expats. However, you can hire someone who is currently residing in a different country, and they can then come to India using an employment visa.
Why Hire Expats In India?
The rapid pace of technological advancement in India is creating jobs and leading to severe skill shortages. India is experiencing a lack of IT professionals, engineers with the right skillsets, data analysts, machine learning, and robotics experts.
According to a FICCI survey, there is a shortage of:
- 80% of Doctorate and Post Doctorate Scientists in Molecular Biology, Biochemistry, and Biotechnology.
- 65% of refrigeration mechanics
- 70% of food safety professionals
- 60% of agricultural scientists
- 50% of treasury managers
- 80% of financial analysts
Furthermore, there are 93,000 vacant jobs in data science (as of August 2020)
To meet these demands, companies have started hiring Expats. They have the necessary skills required and are more than willing to work in India.
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Benefits of Hiring Expats In India
Depending on the position and seniority of the job, an Expat may have professional skills that make them the perfect candidate. For instance, a person who has worked in Google will be more likely highly skilled and experienced than someone working in a startup (in the same position). Expats bear some unique personal qualities (such as resilience, adaptability, and problem solving), which are often cultivated when living abroad. All of these can be an asset to your company.
As mentioned above, India is facing an acute shortage of skilled professionals in several fields. To meet your business’s unique requirements and find the right talent, you can turn towards Expats. This gives you the freedom to hire people from any part of the world, as long as they are skilled and can do the job.
They are Motivated
Only the best performers are relocated to international markets. Besides, not everyone is courageous to leave their comfort zone to work in a new area. The ones who do will work hard to make their project a success
Drawbacks of Hiring Expats In India
One of the biggest concerns of hiring Expats in India is the high costs. The government of India offers employment visas only to foreign nationals who have a minimum income of $25,000 (approximately INR 18,77,250) per annum.
Rigorous Immigration Requirements
- You cannot just hire an Expat for any role. According to the Ministry of Home Affairs, an employment visa will not be granted for jobs for which qualified Indians are available. Also, the Expat must comply with all the legal requirements, like taxation.
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How to Hire Expats In India?
Hiring Expats in India is not as easy as it seems. First, you need to ensure that there aren’t qualified Indians for the role you’re looking to fill.
Once you meet the criteria, you can take the help of a PEO (Professional Employer Organization) to find the right Expat for your business. You can even use LinkedIn to find the right foreign candidate for your company.
Several global PEO companies can help you find and hire Expats in India.
Documents Required to Get An Employment Visa to Work As An Expat In India
Skill shortage in India is a serious concern. Indian companies are finding it challenging to hire the right talent for their business. But, with Expats, companies can solve this issue.
Are you looking for Expats for your business? Do you have any questions related to hiring Expats in India? Let us know in the comments!