Indian Temporary Staffing to Grow Exponentially by 2009

‘Flexi-staffing firms will be big employers by ‘09’

DH News Service Bangalore:

The size of the Indian recruitment market is a huge Rs 4,500 crore and is growing at a healthy 50 per cent. Flexi-staffing (or temporary staffing) market in India is a whopping Rs 1,000 crore, growing at 100 per cent and is fastest growing market in the world. Flexi-staffing companies are all set to be largest employers in India by 2009. These were some of the statistics shared by Kris Lakshmikanth, Secretary- Executive Recruiters Association (ERA), at its national convention, held in the city on Friday. The theme of the convention “War for talent — The Next Decade” threw up some interesting insights .The three major factors in this war for talent is attracting, retaining and motivating talent. In his inaugural address, Ganesh Natarajan, MD, Zensar Technologies, said, “people do not leave an organisation for more money, they leave because they are not taken care of, by the employer.

It is important for us to focus on what motivates people and provide them with an answer to the WIIFM (What’s in it for me?) factor.” He said 90 per cent of the future manpower needs in the IT sector cannot be met, as less than seven per cent of the fresh engineers are not employable for the sector. If the problem of talent shortage is not addressed, India will lose out to China. If India has to achieve an elevated economic status in 2050 which Goldman Sach’s study on BRIC countries prophesies, it can only happen by managing and retaining talent, said V K Vishwanathan, Joint Managing Director, Mico. Meena Ganesh, CEO of Tesco Hindustan Service Centre said the only way to retain an expanding workforce it for the top management to be constantly visible and in touch with its employees on an ongoing basis. Stressing on the importance of a strong organisational culture, Hari Iyer, Culture Officer of Sasken said, “the culture of the company is the key differentiator, it attracts, retains, rejects and ejects its employees.

Original Article Link
http://www.deccanherald.com/deccanherald/jan72006/business181551200616.asp