RSM, a global network of independent audit, tax, and consulting firms, is making significant strides in its expansion efforts in India. The US-based arm of RSM, which currently boasts a workforce of around 16,000 in the US and 2,100 in India, is setting its sights on a substantial increase in its Indian operations. “Over the next two years, RSM plans to grow its Indian workforce to 5,000, capitalising on the country’s rich talent pool to deliver high-value services to its global clients,” says Prasad Balakrishnan, RSM US – India leader.
Rapid Growth and Hiring Plans
After experiencing remarkable growth in India, the firm is hiring hundreds to achieve its target of 5,000 employees by 2026.
“We are extremely bullish on India’s talent market,” says Prasad. “The maturity to deliver high-value services is in a very good place, and we see India as a key player in our global strategy.”
Just two and a half years ago, RSM’s presence in the country was minimal, with only 50 to 100 employees.
RSM’s hiring strategy spans a wide range of roles and experience levels within assurance, tax, and consulting services. They are particularly focused on recruiting chartered accountants, tax professionals, information security experts, and software developers. RSM also places a strong emphasis on campus recruitment, targeting top universities across major cities like Bangalore, Hyderabad, and Delhi.
RSM is also seeing Tier II cities as a major pool of talent sources. “Hiring is not limited to metro cities only, we are also open to source talent from non-metro cities,” adds Prasad.
Expansion and Focus Areas
RSM’s growth strategy in India is multi-faceted. The firm prides itself on being the first choice advisors to the middle market, typically serving companies with revenues ranging from $100 million to $5 billion. However, their client base also includes smaller individuals, high-net-worth clients for taxation purposes, and large corporations such as banks.
“RSM’s operations in India are divided into two main segments. One segment, RSM India, focuses on serving the local market with a workforce of over 2,500 people spread across 11 cities. The other segment, which is part of the RSM US business, functions as a Global Capability Center (GCC), providing services to US and global clients from India,” informs Prasad.
Employee Development and Retention
RSM’s approach to employee engagement and retention is deeply rooted in its culture and values. They have developed a robust framework centered around its “Five C’s”: Caring, Curious, Collaborative, Courageous, and Critical Thinkers. These values are embedded in RSM’s 2030 strategy and are fundamental to its operations.
“We offer continuous learning and development opportunities, including both in-person and virtual training. Each employee is paired with a career advisor to help navigate their career path, ensuring alignment between individual goals and the firm’s objectives,” says Prasad. Additionally, RSM promotes internal and global mobility, providing employees with diverse opportunities to grow and develop their skills.
Future Growth and Market Opportunities
Looking ahead, RSM’s growth plans in India are not just about numbers. The firm, according to Prasad, aims to achieve high scores in employee satisfaction, client satisfaction, and retention rates while maintaining a focus on high-value skills. He describes the goal is to build a workforce that is equipped to handle complex, high-stakes projects, and deliver exceptional service to clients worldwide.
RSM’s commitment to India is underscored by its investments in high-quality facilities and office spaces in major cities. The firm believes that a collaborative and dynamic work environment is crucial for the professional growth of its employees.
Navigating Challenges and Seizing Opportunities
Middle-market companies, says Prasad, in India, face several challenges, including market dynamics, regulatory constraints, and talent acquisition. According to Prasad, RSM is well-positioned to help these companies navigate these challenges through its comprehensive suite of services and deep understanding of the market.
Digital transformation is a key area where RSM is making a significant impact. “We are helping clients leverage AI, automation, and other advanced technologies to drive growth and stay competitive. RSM’s digital experts are at the forefront of these initiatives, providing valuable insights and solutions to clients.”
As Prasad concludes, by leveraging India’s talent pool and investing in its people and infrastructure, RSM is poised to achieve its ambitious goals and continue providing top-notch services to clients around the world. As the firm looks to the future, its focus on culture, employee development, and high-value services will be key drivers of its success.