Future of IT Staffing in India
The Rapid growth of MNC’s is double raised with a great domestic organization’s ventures. Our Country India has placed in highest Position for the demand for staffing is like never before in the past decades. The whispers in the Indian market are that the staffing & recruitment in India is expected to grow more significantly by upcoming years.
Recently, Indian Staffing Federation (ISF), The top body of flexible-staffing industry in India comprising of about 30 members from the staffing industry, organized a National Conclave on Staffing – ‘The future of Employment to energize the recognition of staffing as a choice of employment both by employers and society’. It was noted that at a time of prospering the economy back, staffing could be a strategic and cost-effective approach taken by the companies.
In Staffing, India is one of the top countries among the five top nations in Staffing Services. “By the Economic Survival report, it becomes the more viable to make necessary provisions, like setting up guidelines to encourage the contract staffing in areas of roles, industries where it can add topmost value”.
India has been predicting to be among in the all largest staffing countries along with Brazil, China, and South Africa by the global staffing market. Staffing in India, like other developing countries, is at a very vital juncture as a large proportion of the workforce belongs to the unorganized sector having low or almost no social security. From current global experience, the demand for flexible staffing (for providing flexible solutions to both workers and employers) would increase predominantly in the coming years. In 2013, a modest growth rate was noted in the Indian Job market, owing to the increasing number of executive search firms and large-scale hiring by the public sector.
According to a report by Staffing Industry Analysts, the Indian staffing industry is estimated at Rs 26,650 crore, wherein flex (flexible) staffing accounts for 75% and is worth Rs 19,900 crore, permanent recruitment accounts for 12% (worth Rs 3,250 crore) and other services 13 % (Rs 3,500 crore).
Nowadays the contract staffing increasing day-by-day.! The main reason for incessant contract staffing is to reduce risk factors and as a strategy to extenuate the risk uncertainty associated with the inflow of projects. It is something to do with the way the companies do their project costing. In real Life, contract staffing is lavish than the regular staffing except that the overhead in expenditure is less & Also, most of the contract staffing is for short-term assignments. Generally, no company wants to have regular staff for their 100 %requirements, and go for contract staff for 30 – 40 % of the total capacity requirement. This trend will continue irrespective of the quality issue because no company will be completely sure of their project inflows. Hence, contract staffing will continue to flourish.