Next big thing: Recruitment outsourcing expected to grow 50% a year
MUMBAI: HR services and staffing firms in India are increasing their team numbers and operations to supply the rapidly growing requirement for recruitment process outsourcing (RPO) as companies progressively outsource all or segments of the hiring operations to focus on their core business.
With the approximated Rs 4 Billion (R95.7 Million) RPO businesses in India projected to increase at a mind-blowing 40-50% a year for the next few years, firms such as PeopleStrong, Manpower Group, Quess Corp, Randstad and TeamLease Services are drawing a substantial flow of new clients.
There is an upsurge of acute focus on grasping the Indian market for RPO projects, said Pankaj Bansal, cofounder of PeopleStrong. "Corporates are looking not only for a specialisation in sourcing but also in processing and technology, to which attention was not paid a couple of years ago,"
A few months ago, PeopleStrong inked a deal with software exporter Wipro worth about Rs 1 Billion (R250 Million), according to an Everest Group report, for a course of five-seven years. PeopleStrong manages platformbased RPO solutions, taking comprehensive ownership of permanent recruitments for its clients. It has seen an increase of 10 new RPO clients every year and 100% hike over the past one year alone.