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Business News/ Companies / News/  GT Bharat to double workforce in 3 yrs
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GT Bharat to double workforce in 3 yrs

In the near future, the firm is set to make a major addition to its partner headcount as well.

The firm offers a host of services such as tax and accounting advisory managed services and conducts global audits for clients. (HT)Premium
The firm offers a host of services such as tax and accounting advisory managed services and conducts global audits for clients. (HT)

NEW DELHI : Professional services firm Grant Thornton Bharat LLP is set to double its headcount in three years to 15,000-20,000 employees to tap the consulting requirements of a fast-growing economy like India, chief executive officer Vishesh Chandiok said in an interview.

In the near future, the firm is set to make a major addition to its partner headcount as well.

“GT Bharat had 1,000 people in 2010 and 5,000 people in 2020. Now we have 8,000 people, of which 200 are partners. We have plans to scale up headcount to 15,000-20,000 by FY25, 45,000-50,000 by FY28 and to 100,000 by FY31. As part of this major expansion, 20 senior lateral partners will join Grant Thornton in the next six months," he added.

The firm offers a host of services such as tax and accounting advisory managed services and conducts global audits for clients. It leads the Indian middle market, banking, financial services and insurance sector, besides working with the government.

Chandiok said GT Bharat is set to become the first truly Indian-global firm by the end of this decade as it addresses the requirements for the rapid technology adoption by businesses, cyber-security threats, an organised distressed asset market following the introduction of the bankruptcy code, business restructures, a booming startup ecosystem and the revival of the infrastructure sector, which are contributing to consulting business’ growth in the country.

“As geography becomes history in a post-pandemic world, talent constrains intensify in developed markets and risk concerns of remote working reduces, India is now central to most consulting firms as the driver of global success," he said.

The company is experimenting with a four-day work-week, and provides a hybrid, work-from-anywhere option.

“We are not only reimagining from where we work, but also how we can establish clearer boundaries with personal life, to help our employees have the best work-life balance is our top priority. There isn’t a one size fits all that can work in a large firm like ours, but the culture has to prioritise people over profit," said Chandiok.

The four-day work week option is a pilot project. “For many (firms), even a five-day week is not a reality today, so there is a long way to go. We aim to be the pioneers in shaping a new way of working and further building on our unique culture," said Chandiok.

The growth in consulting industry comes on the back of India’s fastest growing major economies in the world status.

In December 2020, Deloitte’s Global chief executive Punit Renjen had said that the firm will double its 55,000 strong workforce in India in the near future, Mint had reported on 11 December 2020.

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ABOUT THE AUTHOR
Gireesh Chandra Prasad
Gireesh has over 22 years of experience in business journalism covering diverse aspects of the economy, including finance, taxation, energy, aviation, corporate and bankruptcy laws, accounting and auditing.
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Published: 15 Dec 2022, 11:36 PM IST
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