War for talent has now become a war for hot skills, says Standard Chartered’s talent and strategy head
3 min read
Tanuj Kapilashrami, Chief Strategy and Talent Officer, Standard Chartered.
Photo : Bijoy Ghosh
| Photo Credit: BIJOY GHOSH
The era when hiring decisions relied solely on job descriptions has passed. In today’s rapidly evolving business landscape, Tanuj Kapilashrami, Chief Strategy & Talent Officer at Standard Chartered, emphasizes that skills have become the fundamental currency defining work dynamics.
The financial institution has pioneered a ‘Talent Marketplace’ initiative, modeled after gig economy principles and first tested in its Indian operations. This platform enables staff members to align their expertise with specific projects, streamlining deployment processes. Currently operational across 60% of the company’s global workforce, this system has reportedly generated between $8.5-10 million in productivity enhancements.
“With workplace dynamics accelerating at unprecedented speeds, traditional employment guarantees no longer apply,” Kapilashrami explains during an exclusive discussion coinciding with the inauguration of their Chennai facility, now the bank’s largest global office. “Organizations now focus on providing developmental resources and training infrastructure, with employees assuming greater responsibility for maintaining their professional relevance through upskilling.”
Edited highlights from the conversation:
What strategic importance does India hold for Standard Chartered’s global operations?
India represents a cornerstone of Standard Chartered’s operational footprint, with 170 years of presence since our inaugural branch launched in Calcutta. Our dual-faceted involvement encompasses banking operations – ranking as our third most profitable international market – alongside substantial shared services infrastructure. Approximately 28,000 professionals support both domestic banking and global strategic delivery from India, including 22,000 dedicated to Global Business Services. Chennai constitutes our largest hub, housing 13,000 employees who enable retail, investment banking, digital asset management, financial operations, and merger-related functions.
As an early entrant to India’s captive center ecosystem, how do you assess the current GCC expansion trend?
Standard Chartered pioneered this space when establishing SCOPE International in 2001, well ahead of contemporary GCC proliferation. What originated as back-office support has matured into sophisticated capability centers executing mission-critical operations. Our Chennai facility exemplifies this evolution, now handling complex functions like balance sheet optimization and specialized product development rather than routine tasks.
What motivated the consolidation into a new Chennai campus after decades?
Our redesigned workspace responds to contemporary workforce expectations, prioritizing collaboration areas and well-being amenities absent from traditional layouts. While previous premises held sentimental value, they lacked modern infrastructure supporting team interaction and personal wellness. The new complex integrates sports facilities and socialization zones, recognizing that employee engagement transcends professional obligations.
How has the GCC proliferation transformed talent competition?
The contest has shifted toward specialized capabilities rather than general recruitment. Standard Chartered distinguishes itself through progressive policies like flexible work arrangements and comprehensive benefits. Nearly 45% of our Indian technology workforce now possesses GenAI certifications, demonstrating our commitment to continuous upskilling.
How have performance evaluation and compensation strategies adapted to the skills-based approach?
Annual performance reviews give way to ongoing project-based assessments. Potential evaluation now emphasizes skill acquisition capacity alongside past achievements. Compensation structures naturally adjust to market dynamics for high-demand specializations like cybersecurity, GenAI implementation, and advanced data analytics.
Does automation adoption affect hiring volumes?
Business growth necessitates continued recruitment, balanced by substantial reskilling initiatives. Our internal mobility metrics show 55-60% of vacancies filled through existing talent redeployment across several business segments.
Published on October 11, 2025
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