Human Resource is a function in organizations designed to link between the products and services your business offers and the people it employs. They are responsible for a number of activities, including employee recruitment, training and development and performance appraisal.
HR Consultancy is the part of HR which are responsible for assisting clients with strategically integrating effective HR processes, programs and practices into their daily operations. HR Consultancy works like an agent that bridges the gap between candidate and the employer. HR consultants are now increasingly been viewed as partners in an organization’s growth strategy rather than just being vendors.
- The present HR marketplace in India has some individual freelancers, start-ups, small and medium players, as well as large Indian companies and MNCs. The size of this space is expected to be INR228 billion in FY11 and has grown at a CAGR of 21% between FY08 and FY11.
- Indian consulting market grew by 4% in 2012 to just over $1.5bn.
- The industry can be broadly divided into permanent recruitment with a market size of INR23–25 billion, temporary recruitment with a market size of INR 167-170 billion and other segments with a market size of INR 33-38 bn.
- The professional staffing market was estimated at INR49- INR53 billion1 in FY11, with 110 thousand staffed through consultants. Professional staffing companies have higher margins than general staffing ones, since the employees they source have higher specialized skill sets.
- The general staffing industry is estimated at INR119 billion1 with around 890 thousand1 employees staffed through organized players. The industry has grown due to companies in the ITES, retail and telecom sectors increasing the share of temporary staff in their total workforce.
- Consultancy organization in the four metropolitan cities:-
- Delhi - 25.7%
- Mumbai - 25.5%
- Chennai - 12.1%
- Kolkata - 9.1%