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The Times of India Monday July 28, 2008
'Outplacing' employees to become leaner |
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Busniess Line Thursday July 08, 2008
Hefty salary hikes turn a thing of the past |
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Livemint.com (THE WALL STREET JOURNAL) Tuesday June 10, 2008
Small outfits offer big opportunities |
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Busniess Line Thursday May 22, 2008
They are beginning to look beyond IT space |
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The Times of India Saturday March 15, 2008
More pink-slips for techies this year |
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The Economic Times Tuesday March 11, 2008
Hiring in IT industry slows down 40-50% |
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Corporate News Wednesday March 5, 2008
Microsoft, Infosys 'incubating talent' to beat attrition blues |
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The Times of India Monday January 14, 2008
Rookies rule the roost today.... Fresh Look |
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The Times of India Friday January 4, 2008
Bada title, chhota kaam from indian techies |
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The Economic Times Wednesday January 2, 2008
ENABLING COMFORT At Workplace |
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The Hindu Business Line Wednesday January 2, 2008
Hiring moves beyond realm of IT, ITeS |
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Recruitment market shrinks; hirers in a fix |
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The Times of India |
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October 17, 2008 |
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Mini Joseph Tejaswi |
Bangalore: Outsourced hiring grew at phenomenal rates over the past few years. Last fiscal, the business hit $1 billion, a figure that was estimated by the Executive Recruiters Association (ERA) by computing service tax collections from hirers across the country. Today, based on the business that firms are doing, third party recruiters estimate that the industry this year will be barely $500 million, half of what it was last year.
It’s so bad that recruiters themselves are cutting their recruitment staff. One of the leading third party recruitment firms in Bangalore that had 27 people, has cut that strength to just 9. The firm did not want to be named, but said many companies are not renewing their hiring contracts, which typically are for three to six months. “We are automatically out of their rolls when contracts are not renewed. Today, we are left with no option but to cut our strength,’’ said the recruiter.
Last year, the industry had hired 3,50,000 people for the IT and BPO businesses. This year started at a slower pace, but now hiring’s almost hit a wall. Recruitment for the banking and financial services vertical has come to a halt. “We fear the trend will spread to other areas,’’ says B S Murthy, CEO of Human Capital.
Some verticals like telecom, infrastructure (mostly ports), logistics and manufacturing are still ticking along reasonably well. “However, companies are busy adding extra performance and task-orientation modules onto their existing hiring practices,’’ says Nirupama V G, MD of recruitment firm AdAstra.
BPOs, bulk-hirers at one point, have slowed down too. “Those days of high-volume hiring has come to an end, at least for the time being,’’ says Mamtha Jain, an independent recruiter.
Manish Sabharwal, MD of staffing firm Team Lease, says the rising tides were lifting even leaking (recruitment) boats. “In the current scenario, only large and niche recruitment players will survive. Others in the middle of the highway will be knocked down,’’ he says.
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