I’m Extremely Bullish on India: Korn Ferry CEO
India is a tremendous source of talent for US-based people and organisational advisory firm Korn Ferry Hay Group, says CEO Stephen Kaye. In an interview with Anumeha Chaturvedi, he talks about the $452-million acquisition of Hay Group and the Indian operations. Edited excerpts:
How is the company faring since it acquired the Hay Group? It’s going really well. The response from clients has been tremendous. It has created a company with deeper capabilities and around 7,000 professionals. For Korn Ferry, most revenues were coming from North America and the US. And for Hay Group, 80% revenues were from outside the US. Korn Ferry works with more MNCs, while Hay Group globally works with more local companies. It became a more balanced organisation with global strength.
COMPANY PHOTO Which are the bigger markets for Hay Group? Hay Group was biggest in Europe, with 40% revenues coming from the region and another 20% from the US and Canada. But as we were making sure that we focused on economies outside Western Europe and North America, 40% of our business started coming from fastgrowing markets like South America, Eastern Europe and the Middle East in mid-2015. India is a little behind markets like the UK and China, but it has the highest opportunity for growth among BRIC economies.
How has the Indian market evolved for the company? I’m extremely bullish on India. It is more than just a market and a tremendous source of talent for us. We’ve been looking to hire more people here. Indian consultants have played a leading role in some of the most high-profile engagements with leading clients. It’s not about labour arbitrage. It’s about having talented people who can help clients succeed. Particularly in India, I’ll be excited to do more campus recruiting to look at how can we run an internship programme that allows us to give people an experience of what this career could mean.
ON LOCAL HIRING We’ve been looking to hire more people here. Indian consultants have played a leading role in some most high-profile engagements