Business Daily from THE HINDU group of publications
Monday, Nov 30, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Monday, Nov 30, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Industry & Economy
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Employment Hiring activity spurs demand for HR professionals “In times of slowdown, human resources personnel were the first ones to go. Now, as hiring picks up pace, companies have gone back to strengthening their in-house talent acquisition departments.” Bindu D. Menon Moumita Bakshi Chatterjee New Delhi, Nov. 29 The economic recovery and the resultant pick-up in hiring in sectors such as BFSI, IT and pharma has revived demand for HR and recruitment professionals. “In times of slowdown, human resources personnel were the first ones to go as they don't directly earn revenue for companies. Now, as hiring picks up pace, companies have gone back to strengthening their in-house talent acquisition departments,” said Mr E. Balaji, Director and CEO of Ma Foi. HR professional's role spans talent acquisition, in-house training and even payroll management. Over the last 12 months, recruitments across various sectors had come to a near standstill, as global financial crisis hurt sales, dented order books, forcing companies to resort to cost-cutting. Amid, pink slips and virtual benches, companies had also pruned the in-house HR departments, while recruitment firms reduced overall staff strength. However, with the economy on a rebound, hiring is estimated to have jumped 15-35 per cent over the year ago period. Market data suggests that number of jobs advertised online is growing at 2.1 per cent on a monthly pace. Industry watchers also note that the upward march of stock market in the last few months restored investor confidence. Besides banking, telecom, real estate, even segments such as asset and portfolio management, life-science and pharma companies are looking for HR talent. Mr Rishi Das, co-founder of Bangalore-based recruitment firm CareerNet Consultant, says his firm has placed almost seven to eight senior staffing heads for various clients in the last six months. In fact, anticipation of new business has nudged many recruitment agencies to ramp up operations. ABC Consultants says it has hired 15 people for core hiring activities and will recruit another 25 shortly. “We are looking at it as a future investment. Today, there is abundant talent in the market, but demand for HR professionals is rising, and so it makes sense to get into the hiring mode now,” ABC's CEO Mr Shiv Agarwal said. ABC Consultants is on the verge of launching Recruitment Process Outsourcing (RPO) business, as its sees increasing number of clients opting for an outsourced model. Interestingly, companies are also incentivising third-party recruiters to find the best talent for them especially for their HR departments on a case-to-case basis, says Mr Amit Bhatia, CEO of Aspire Talent Management. IT/ITES and telecom companies continue to be the most aggressive recruiters. This is because they need a large staffing team to manage bulk recruitments, he adds. More Stories on : Employment | Human Resources
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