Headhunting and Talent War
ET reports on the phenomenon growth which headhunting services have seen over the last few years. Outsourced hiring, or hiring through third party recruiters, will be an over $1 billion industry this year. And it’s growing extremely rapidly. Such hiring is only a decade old in India. It grew slowly initially, but in 2005-06, the business saw exponential growth, posting a turnover of Rs 3,922.32 crore, against Rs 630.98 crore in the year before. The industry this year is seen to be growing at about 40%. So by the fiscal-end, it would go well past $1 billion, according to a study by the Executive Recruiters’ Association (ERA). Although there is no clear breakup of which sector would contribute to what extent, it is estimated that IT will claim the largest chunk at 30%, followed by telecom/infrastructure, retail /realty and manufacturing/utilities spaces each at 15%, ITES at 10% and others at 15%. Clearly the boom in services and growth of industry has resulted in huge requirement at mid...