Delhi: With expansion on their mind, offshore staffing firm Entigrity, has announced plans to triple its employee base in India by end of 2024. The offshore staffing has doubled its workforce in 2020 amid increased demand for professional accounting services in the North America region despite COVID outbreak. Expecting continued uptick in demand for offshore staffing, Entigrity currently employs a staff of 650, and plans to more than triple the count to 2000 in next three years.
Entigrity is a leading offshore outsourcing provider to major accounting and tax firms situated across North America. Headquartered in Sugar Land, TX, Entigrity has five offshore offices located in India; three of them in Ahmedabad and one each in Mumbai and Vadodara.
Talking about the expansion plans, Mr. Valay Parikh, Co-Founder and CEO, Entigrity Group, said, “We witnessed a sharp increase in demand for outsourcing in 2020. We expect this trend to continue for next 3-4 years therefore we will keep on strengthening our manpower by adding energetic youth and professional talent who are passionate about accounting. In the current financial year, we plan to hire over 500-600 accounting professionals to meet the demand coming from North America, Canada and Europe.”
With remote working becoming normal, the offshore staffing sector saw a surge in demand for accounting professionals. Entigrity added 400 professionals to its workforce between April 2020 – May 2021 even during Pandemic. This can be seen as a different impact of the COVID-19 pandemic where entry-level chartered accountants who have cleared CA Intermediate or second level of the examination could become eligible for applying for these offshoring jobs.
Speaking on the occasion, Mr. Abhi Parikh, Director Operations, Entigtiry Group, said, “Building and retaining a strong quality team is key. Our core focus would remain in building the right talent pool for serving the ever increasing client demand. This year we have also expanded our learning program through various initiatives like gamified learning, short courses etc”
The global accounting services market has grown from $574.5 billion in 2019 to $576 billion in 2020 at a compound annual growth rate (CAGR) of 0.3%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is now expected to recover and grow at a CAGR of 6% from 2021 and reach $687.7 billion in 2023.
Previously, in order to support its people amid second wave of COVID-19, Entigrity announced a COVID Support Policy for its employees. Under the new policy, the offshore staffing company will give twelve months’ salary to the families of employees who have lost the battle to COVID. The company will also provide children education support up to graduation level.
The company also extended the medical Insurance coverage to Employee, their families and their parents.