Quigley: Growth mode

New Delhi, Nov. 21: Deloitte India is set to ramp up its financial advisory business in the country. It will recruit over 4,000 in the next two years as part of its strategy.

“In times of financial turmoil and recession, companies want to know how to reduce cost, refinance debt and retain a healthy business structure... which is why there is higher demand for financial advisory and consulting services,” Chaly Mah, regional managing partner of Deloitte Asia Pacific, told The Telegraph.

He said the consultancy firm would take its workforce in India to 12,000 by 2011. “We will specifically ramp up our advisory business operations by acquiring and retaining talent.” The company offers audit, tax, financial advisory and consulting services.

Analysts said the present market turmoil had made good talent more accessible, while salary expectations had also become realistic.

According to the Institute of Chartered Accountants of India, there will be a need for another 4.5-5 million people in financial services by 2015. Of this, 15 per cent will require minimal education and will be recruited as collection and field agents. Customer service work and insurance will absorb another 65 per cent.

Deloitte CEO Jim Quigley said the company had introduced a “flexible work arrangement” to retain its workforce.

“By introducing global learning opportunities, innovative customised career options and international assignments, we plan to retain the best people at Deloitte,” he said.

On the impact of the global financial crisis on Indian business, Quigley said, “Finding new customers, suppliers, people and skills will be the key to driving expansion and long-term sustainable growth.”

Deloitte India is a subsidiary of global consultancy major Deloitte Touche Tohmatsu, which employs over 1,65,000 across the world.

It has around 50,000 employees in the US, 50,000 in Europe and West Asia and 25,000 in Asia.