Recruitments are happening across all levels, says Aleti
Demand for the professionals in Tax and Audit sector is increasing in India as businesses in the United States outsource jobs to manage the COVID-relief package by Congress December 2020.
President Joe Biden’s US$1.9 trillion COVID-19 stimulus plan to revive the US economy includes US$440 billion in assistance to businesses. This rescue and recovery step comes in at the right time for the US industries and institutions. And this had a domino effect, leading to massive hiring in Tax and Audit (outsourced) jobs in India, said People Prime Worldwide Private Ltd on 11 Feb 2021.
“We are seeing a rise in hiring for US Tax-related roles in India. And the relief package has certainly boosted this sector which was in some way affected due to COVID times. Recruitments are happening across all levels, leadership, mid-management and junior staff,” said Ravi Kumar Aleti, CEO, People Prime Worldwide of Hyderabad, a company of The Boston Group Company.
The Employee Retention Credit under the CARES Act encourages businesses to keep employees on their payroll. The refundable tax credit is 50% of up to US$10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19.
Throwing more light on the topic, he said, “The other reasons for seeking candidates from India are the talent, cost arbitrage and the time-zone advantage.”
Tax and Audit advising plays a key role in any organization’s financial growth and it is the essential component while achieving the company’s goals. A competent tax advisor who has a thorough and updated knowledge will help to formulate proper tax planning strategies.
India is known for its talent pool in almost every profession and Tax and Audit are no different. The competency and expertise available in India make it one of the most sought-after in offshore recruitments.
Most of India’s graduates being English speaking gives additional scores to the country. It almost produces more English-speaking graduates than anywhere else in the world.
The comparatively lower cost of living paves way for huge savings for American companies when they hire from India. Being a cosmopolitan culture makes it easier for India’s foreign counterparts in dealing with their India based teams. The obvious time-zone advantage translates into faster deliveries before the start of business for the Americans.
For India, these high value recruitments but have been a rewarding factor in terms of generating employment and boosting economic growth, said People Prime Worldwide, one of the Premier Staffing and Recruitment firms in India. #economy #jobs #investment #people #talent #technology /fiinews.com
