Financial Daily from THE HINDU group of publications
Tuesday, Oct 18, 2005
Financial Daily from THE HINDU group of publications Tuesday, Oct 18, 2005 |
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Corporate
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Outlook Industry & Economy - Employment Staffing cos may soon pip IT firms in job market Anjali Prayag
Bangalore , Oct. 17 TECH companies, the flagbearers of the job market, may soon have to look over their shoulders. Closing in on them are staffing companies, the dark horses. While the infotech sector is riding the crest of the job wave and hiring by thousands every quarter, staffing companies have a comparable employee intake in the range of 1,000-2,000 a month. TeamLease, for instance, is adding 2,200 associates per month. The Managing Director of the company, Mr Ashok Reddy, said, "We intend to be the largest private sector employer by the year 2007." Currently, TeamLease employs 27,000 people and has drawn out plans to be 36,000-strong by March 2006. Mr Ajit Isaac, Managing Director, Adecco PeopleOne, said people-service providers would soon become some of the largest employers in the private sector. Currently, the sector employs close to 20,000 people in the country. Globally, Swiss staffing company Adecco is the second largest private sector employer after Wal-Mart. In India, the organised labour market accounts for 7 per cent of the entire workforce. This means about 28 million people out of the country's 440 million employed fall in this category, thus providing a significant opportunity for these players. Staffing market doubles: In fact, the country's staffing market has been almost doubling annually in the last two years and is expected to boom in the next few years. For instance, Chennai-based Ma Foi's flexi-staffing division employed about 8,000 people last year and the number is now touching 15,000. Among other players in the staffing market are Kelly Services and Manpower Services. Explaining the profile of `associates' or `deputees,' Mr Isaac said that about 68 per cent are for sales/marketing jobs, 28 per cent for finance or administration functions and the rest in the engineering and customer support roles.
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