Recruitment firms meet the need of companies by supplying them with the most relevant Candidates from the Same Trade. Recruitment Agency provides a total hiring solution. Recruitment Agency do a lot of exercise to fulfill its clients staffing or manpower need. Recruitment business requires lot of skills and is a highly renowned profession and requires high experience and expertise.
Recruitment Agency Act like an intermediate agent between candidate and company. Companies get a help in hiring relevant candidate as per there need and candidates with the proper relevant job matching there profile. Recruitment agencies have continuous flow of vacancies for various positions from various companies, whereas the recruitment agency has to search and line up the most suitable candidates to these client companies for interview. Success formula on which the recruitment agencies run is Maximum interview = Maximum Selection. Generally the revenue of the recruitment business depends on number of candidates selected in companies. Standard charge for recruitment industry is 8.33 percentage of the annual ctc of the candidate, more of less it varies according to terms and candidates and various other circumstances. Nothing is charged from candidates. Recruitment agencies use various job portals and social media platforms to sources candidates for their clients. Huge amount of coordinating and efforts are need as this business is totally runs on virtual platform from the business point of view. Now day’s recruitment agencies are touching new heights and are using very high technology and very sophisticated software to filter suitable candidates as per the need or requirement of the companies. Recruitment business can be easy started and does not require tremendous capital and business acumen.
India is the world’s second largest country in population with high ratio of educated unemployed people this creates a great demand for recruitment agencies or placement agencies in India. Professionally qualified youth look for good opportunities every time in their career time span and same the companies always looks for the productive resources. Companies look for suitable candidates for their business and they agree to pay for them. Industrial and business growth in India has deep impact on employment growth thus effect on recruitment business. Recruitment agencies in India are called with various names like placement consultant, placement agency, recruitment consultant, Human Resource consultants. This business is likely to grow very rapidly in the coming years.
Recruitment in India in terms of business size is more than INR.10000 Crores and recruitment market is growing with a rapid speed of 50 percent every year. Almost 70 percentage of recruitment in corporates are done through Recruitment agencies and placement companies. Globally Indian employment market is seen as a very potential market. India almost contributes 30 percent of knowledge workers globally.