Saturday, December 18, 2010

Placement Industry in India - Factoids

Hello Everyone,

 

We hope our blog posts are informative and helpful, today we wish to touch-base upon the topic of Placement Industry in India and sharing below are some factoids:

 

The most important aspect in the scope of Human Resources, is hiring of resources and that is a feat huge corporations manage to achieve with the help of timely and accurate Placements through third-party agencies and in-house recruitment teams.

 

Placement industry in India is becoming very large with the increase in the demand as well as easy availability of professional and trained manpower. Moreover number of jobs, candidates and companies has become so large that need for job consultants, who act as a mediator between candidate & employers, have felt badly. This has given a way to increase in the number of placement consultant agencies in India.

These Placement Agencies work in complete tandem with top MNCs, Corporate Firms, private limited firms and other big & small companies in India and abroad. Companies, which are commonly called Client, tell their manpower requirements to these placement agencies which in turn find the right candidate for them. Internationally India is a place that is the most sought after for employees because they have right mind set, education and knowledge. Sincerity, responsibility and dependability are other features that has led to the more demand of Indian manpower. So with this placement consultant agencies are mounting in number.

 

With the increase in the number of candidates and need for job, the human resources outsourcing firms or the placement industry India is recognized as the fastest growing industry. In India only, while 15 Million agencies help non-professional labor with placements such as construction, transport and certain industrial jobs, about 80 million work with professionals in ever-widening fields, such as Nursing, IT, HR, Engineering and Teaching. Recruitment firms or consultants take the commission from employee's salary if their selected candidate got the job. HR Sourcing (placement) is a large and complex universe in itself, encompassing many different functions associated with the HR department. The human capital marketplace remains highly competitive and is poised for enormous growth in the next 10 years, since; companies around the world are investing heavily in their human resources

infrastructure

 

While outsourcing is beneficial in many ways and also make sense for various reasons. The major benefit is in terms of cost cutting in companies' expenditure on recruitment and administrative work. There is seen large reduction in the costs of routine transactional and administrative work of the company that goes for human resources outsourcing. Another key reason is the belief that a company should outsource all non-mission critical aspects of its business.

The Placement consultant agencies, more commonly known as the professional employer organization (PEO), are well-equipped to take on the entire human resources activity. Most PEO clients are small- to medium-sized companies that sign up with a PEO, obtaining better deals on the purchase of benefits as a group rather than as a single small entity. Larger companies are also outsourcing HR tasks, but they more typically go with specialty firms. The most commonly outsourced function is employee assistance, and outplacement services.

Apart from firms and companies, candidates can also consult the placement and recruitment firms for job. Online they can submit their resume and explain their job requirement. On having any opportunity, the candidates are then called for the interview. Candidate can check for the employment in India and abroad.

 

(Excerpts from Search Engine)

 

2 comments:

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