Human Resources is no longer just another cut-&-dry industry – only involved in solving the mundane day to- day human-related issues in the organisation. In fact, in today’s competitive environment, the changing role of human resources management has become increasingly complex & challenging. 
Following the boom of Information Technology, if forecasts are anything to go by, India is now on the threshold of a Human Resource Outsourcing (HRO) boom. Nowadays, HR managers are strategic business partners involved in advancing the enterprise’s strategic objectives. Quite simply put, with the companies firmly putting administrative work on a backseat, it is the new wave of HRO that is driving HR teams both globally as well as in India.
With double-headed challenge of reducing costs whilst improving the customer’s experience cited as one of the key reasons behind the HR outsourcing practice, it is Recruitment Process Outsourcing (RPO) bug that is biting companies, as it is a viable option to outsource this activity. In an exclusive interview with B&E, Hastha Krishnan, CEO, Ma Foi Global Search Services Ltd. (MGSSL), says, “The HR outsourcing is at a very nascent stage in India even today, especially in comparison with the mature economies like the UK & the US.” The statement does ring a certain truth, considering that the current size of global recruitment industry is about $140 billion, out of which, only a miniscule $1.2 billion is outsourced. However, the twist in the tale is that the global RPO industry is growing at humongous 3.6% annually. In contrast, the size of organized recruitment industry in India is about $200 million. Adding the unorganized sector to it, the size of the Indian recruitment industry stands at a respectable $400 million.
Following the boom of Information Technology, if forecasts are anything to go by, India is now on the threshold of a Human Resource Outsourcing (HRO) boom. Nowadays, HR managers are strategic business partners involved in advancing the enterprise’s strategic objectives. Quite simply put, with the companies firmly putting administrative work on a backseat, it is the new wave of HRO that is driving HR teams both globally as well as in India.With double-headed challenge of reducing costs whilst improving the customer’s experience cited as one of the key reasons behind the HR outsourcing practice, it is Recruitment Process Outsourcing (RPO) bug that is biting companies, as it is a viable option to outsource this activity. In an exclusive interview with B&E, Hastha Krishnan, CEO, Ma Foi Global Search Services Ltd. (MGSSL), says, “The HR outsourcing is at a very nascent stage in India even today, especially in comparison with the mature economies like the UK & the US.” The statement does ring a certain truth, considering that the current size of global recruitment industry is about $140 billion, out of which, only a miniscule $1.2 billion is outsourced. However, the twist in the tale is that the global RPO industry is growing at humongous 3.6% annually. In contrast, the size of organized recruitment industry in India is about $200 million. Adding the unorganized sector to it, the size of the Indian recruitment industry stands at a respectable $400 million.
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Source: IIPM Editorial, 2008
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative
Source: IIPM Editorial, 2008
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative
