Recruitment industry's forex earnings on the rise
Bangalore , Jan. 6
WHILE about 4.25 lakh Indians flew out of the country last year with overseas offer letters in their pockets, the Indian recruitment industry had to tailor deeper pockets for its foreign exchange earnings.
With 12-15 per cent of a recruitment firm's revenues coming from overseas placements, the Rs 2,000-crore Indian recruitment industry estimates that about Rs 150 crore worth of foreign exchange flowed into the country last year.
Mr K. Pandia Rajan, Managing Director, Ma Foi Consultants, says, "This shows the growing acceptance of not only Indian candidates but also Indian consultants." About 12 per cent of Ma Foi's 2005 earnings (estimated to be about Rs 212 crore) can be attributed to foreign placement billings. This year, Ma Foi is eyeing revenues of Rs 350 crore and Mr Rajan expects about 20 per cent of this to come from candidates getting placed abroad.
TeamLease Services is recruiting for companies based in Nepal, Nairobi, South Africa, Nigeria and South Korea apart from servicing mandates from US- and UK-based companies. "About 15 per cent of our earnings come from overseas placements," says Ms Nirupama V.G., Associate Director, TeamLease Services.
Sectors that are looking at Indian employees are software, hardware, power, pharma, textiles and BPOs. Forex remittances are also increasing because immigration is becoming easier in countries such as Australia, the UK and Singapore. Says Mr Anjan Dutta, Principal Consultant, Career Graph: "The UK earlier only offered short stints for Indian workers but now it is for longer periods." On an average, Career Graph earns about $2,000 per candidate placed abroad.
Mr Kris Lakshmikanth, CEO and Managing Director, Headhunters India, says that the boom in the garment industry has enhanced his company's forex earnings. Bangladesh, Indonesia, Sri Lanka, China, Hong Kong and Singapore are sourcing textile industry talent through this Bangalore-based company.
Mr Lakshmikanth envisages that about 25 per cent of his company's revenues (estimated to clock Rs 13 crore) to come from Indians getting placed overseas.
by Anjali Prayag reference http://www.thehindubusinessline.com/2006/01/07/stories/2006010703250500.htm
Challenges Faced while recruiting candidates Abroad !!!
27/1/2010
"Although this article reflects the growing forex earnings flowing in India , yet there are great challenges faced by Indian recruiters while placing them abroad".
There are few merits and demerits let discusss them here.
And will this year , we will have higher forex earning compare to last year or not !!
let discuss here
By Nimmee Upadhyay
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Challenges faced while Recruiting candidates well ……
ReplyDeleteWe all recruiter’s do face some or the other challenges while recruiting them but if we have to recruit for Abroad locations then we do face issues which we may have never thought !
We recruiters face different problems with each candidates depending on locations, salary offered, other benefits as each candidate compares it with the people whom they know or who have already been abroad
We need to make candidate mentally strong to face the basic problems like home sickness again candidate has to adjust with the climatic change, organizational work culture, food, educations, language spoken, security issues etc
There are many paper works which we need to do incase of Visa Processing which is again different for every country. Need to estimate that Valid Visa should not expire while the candidate is serving notice period
For recruiting abroad most of the time candidates need to sign agreements and as a recruiter we need to assure that any false commitment is not made and whatever clause have been mentioned are considered, as we are not only accountable to our Client but also to our Candidates
We even have last minute problem such as cancellation in flight or changes in flight timings
So till the time, candidate has not reached his destination we never know what new Challenge we recruiter’s have to face …….but again it’s a learning experience and it has its pros and cons too