40 Global Cities identified as Next Frontiers for Technology Talent
Posted Dec 13 2012 5:11am
(1888PressRelease) Over 400 Global Cities Reviewed and 40 Locations Identified.
Santa Clara, Zinnov LLC today launched an in-depth study on Next Frontier cities for technology talent titled "Next Frontier Cities for Technology Talent". The study identified 40 Global cities suitable for hiring technology talent after a comprehensive evaluation of over 400 Global cities on key parameters like talent availability, market maturity, cost, peer group eco-system, government policies etc. These 40 cities are spread across the regions with,
- 9 cities in North America - 9 cities in South America - 12 cities in EMEA - 10 cities in APAC.
Speaking about the study, Vijay Swami, Managing Principal, Zinnov, said, "There are about 45 established locations and another 40 emerging ones, where technology companies have a large presence. Fierce competition for talent and ever increasing compensation structure in existing cities is forcing these companies to look beyond the typical talent hubs and venture into the off-beaten path".
The report highlighted that
- There is a 86% cost differential between high cost established locations (e.g. Silicon Valley) and the Next Frontier cities in the APAC region - Most of these Next Frontier cities have very good education ecosystem, which is conducive to breed top talent - Chongqing, Lima and Hanoi are the top 3 Frontier cities for R&D Talent. - Companies in the forefront of this evolution have already started to leverage Next Frontier cities to perform R&D, IT and Shared Services activities. - Faster release cycles, complexities of global team management & stable workforce have renewed interest to expand into suitable Tier 2 cities in the USA for talent growth.
"It is a myth that technology companies hire only niche skills. Like any other enterprises, their talent requirements vary by role; infact only 20-40% of their roles require hard-to- find or niche skills. For all other roles, they look for optimal locations that have the availability of talent at the right cost", said Vamsee Tirukkala, Managing Principal, Zinnov.
The report additionally highlighted that the advantages of these Next Frontier cities are ease of hiring, higher resource stability, low attrition rates etc.
However, Next Frontier cities have some key challenges related to talent scalability, operations consolidation, talent relocation, business continuity, services' provider support and technology ecosystem availability. Though these cities have key disadvantages when compared to established locations; the report shows that they are ideal for companies looking to hire 50 -100 employees for their centers.
The Next Frontier cities highlighted in the report are Ankara (Turkey), Asunción (Paraguay), Boise (USA), Brasov (Romania), Caracas (Venezuela), Casablanca (Morocco), Chongqing (China), Cluj-Napoca (Romania), Coimbatore (India), Colombo (Sri Lanka), Durban (South Africa), Florianópolis (Brazil), Foshan (China), Guatemala City (Guatemala), Guayaquil (Ecuador), Hanoi (Vietnam), Islamabad (Pakistan), Jacksonville (USA), Johor Bahru (Malaysia), Kharkhiv (Ukraine), Kiev (Ukraine), Lima (Peru), Limerick (Ireland), Lodz (Poland), Lviv (Ukraine), Managua (Nicaragua), Montevideo (Uruguay), Nagpur (India), Porto Alegre (Brazil), Rabat (Morocco), Recife (Brazil), Roanoke (USA), San Salvador (El Salvador), Santa Cruz (Bolivia), Santo Domingo (Dominican Republic), Sofia (Bulgaria), Tianjin (China), Tucson (USA), Wichita (USA) and Wuhan (China)
Executive Summary of the report is available at: http://zinnov.com/PDF/Next_Frontiers_in_Technology.pdf
About Zinnov LLC Founded in 2002, Zinnov - meaning Zeal in Innovation - is a leading solutions and consulting company providing services to Fortune 1000 companies and other reputed SMB firms.
Zinnov's Talent Neuron Platform is a web based platform that provides data and insights on global talent, cost, peer group, service provider and other valuable ecosystem parameters related to global talent. Through its analytics and decision dashboards, Talent Neuron helps companies in Global Workforce Strategy, Planning and Operations initiatives.
For more information, contact: Kinjal Panwar Senior Manager-Marketing Email: Kinjal ( @ ) zinnov dot com Phone Number: 408-716-8432