Description:

Human resource is the most precious resource for any organization. Recruitment of right person on the board of a company is indispensable for success of the organization. Human resources solution providers consist of dedicated team of experts which provides its clients with workforce solutions like hiring right candidate (temporary and permanent nature) to streamline the human resource processes at the clients end. Staffing industry works in an increasingly dynamic business environment today and has seen utmost transition in recent years. It has emerged its status from only “replacing absentee workers” to become “strategic partner” for its clients by providing entire gamut of employment solutions like providing corporate training, pay-roll processing, recruitment process outsourcing, etc.

The staffing industry in India is highly fragmented and provides services in varied streams such as Finance, Sales, Engineering, Information Technology and Management. Recent developments on the economic front like opening up of various segments like retails, aviation, etc. for FDI is also a boost for the segment as this will lead to increase in hiring activity. Growth economics shown by India has also attracted large MNCs to set their foot in the nation and ride the growth tide.

The Indian recruitment industry is driven by a number of factors including the growth of key client industry, large conglomerates entering into new business domains, entry of multinational companies in the Indian markets among others. Indian economy has been growing at an attractive rate backed by growth in its key customer industries like IT, ITES, retail, banking, health care and hospitality among others.

Also the industry is characterized by the increasing trend of private equity transactions and a number of mergers and acquisitions. Also, a number of companies have started outsourcing their recruitment processes to third party recruiters.

The report gives an in-depth analysis of the Indian recruitment market with major focus on permanent and temporary recruitment segments. It assesses the key opportunities in the market and also outlines the factors that are and will be driving the growth of the industry. Further, key players of the industry have been profiled and growth of the industry has been predicted taking into consideration the previous growth patterns, the growth drivers and the current and future trends

With GDP growth rate being pegged at 5.5 per cent against 4.7 per cent during the last financial year, according to the mid-year economic analysis 2014-15, businesses across all sectors are expected to grow. In addition, India enjoys the competitive advantage of demographic dividend which would, together with the hiring intensity, mark a new era of recruitment in the country.