When a global healthcare company’s outsourcing partner was acquired, they faced a dilemma – maintain the operational status quo or branch out on their own through insourcing?
Health.Co* is a leading healthcare platform company, providing personalized and seamless navigation assistance to individuals seeking high-quality, cost-effective care. Health.Co outsourced part of their business to India for over a decade through a service provider via a traditional Build-Operate-Transfer (BOT) model. However, when their provider was acquired by a larger firm, Health.co was skeptical about receiving the same personalized attention they were accustomed to from their earlier outsourcing partner.
This was a key inflection point in the company’s journey. Health.Co hedged their bets and set up their own Global Capability Center (GCC) in India by partnering with Zinnov. The new center would facilitate new product development while simultaneously assisting global offices on existing product development, a first for the company, where previously executive decisions were controlled by HQ. By moving key technology and engineering functions to the India center, Health.co was able to create a new talent and innovation hub at a global scale.
Finding the right talent was key to Health.Co’s success in India. In a span of 18 months, Zinnov worked with the teams to seamlessly integrate existing contract workers into full-time employees as well as double the center headcount, onboarding highly skilled talent that empowered the development of a full stack Research and Development (R&D) center. Apart from a positive impact on both top and bottom lines of global revenue, the GCC creates India-first products for the globe.
According to the Nasscom-Zinnov 2023 GCC Report, Indian centers are maturing at a hyper-accelerated pace, much of which is powered by the remarkable pool of 65,000+ talented professionals in Engineering R&D (FY23). Of the USD 46 Bn GCC market size in India, ER&D has been leading this growth with a 56% revenue share.
Over the past decade, a remarkable shift has occurred within the Global Capability Centers (GCCs) landscape. A staggering 42% of GCCs have matured, a substantial leap from the modest 18% recorded in FY12. This transformation has brought forth a new era characterized by portfolio autonomy and ownership driven from these centers, propelled by 5000+ global roles enthroned by Indian site leaders. All signs point towards Globalization as the key lever to growth and insourcing the defensible moat.
Since setting up the new center, Zinnov’s award-winning experts have continued to provide strategic support across HR, Finance and Employer Branding functions. A dedicated People Success Strategy executed by Zinnov has resulted in keeping attrition at 6% (industry average is 25-30%) with a healthy diversity ratio of 23% among the talent pool, making Health.Co an employer of choice.
*To protect the privacy of our clients, names have been changed. The results, however, are 100% real.