Bootstrap startup entrepreneur’s perspective towards growth of recruitment and staffing Industry in India

Dax Bamania is a serial entrepreneur, growth partner and business consultant. He is Founder of TIGI HR Solution Pvt. Ltd. His entrepreneurial journey started at the end of 2016 with 0 INR as seed capital, 0 clients, 0 team members and 0 years of experience with the same industry in the initial stage of business. Letter on he started learning from industry experts, business growth hackers and also started learning from on going journeys, he realized the actual potential of the market and understood the importance of quality and commitment to efficiency and perfectionism. By his dedicated unique approach he had earned many benchmarks in the corporate world. He talked about the importance of growth catalysts in the corporate world.

Change of staffing/recruitment trend in India:

Over the last 18 years Staffing Industry has catapulted from a sleeping 100 million $ industry to a 6 billion dollar industry today. eCommerce, Fin-tech, Ed-tech, AI, Robotics and SaaS based companies are sun-rising and significantly changing the world with IT and Engineering collaborative approaches at the other hand Pharma, Healthcare and Construction companies are creating a new edge of well being with this growing industrial revolution corporate world are in need of decent, dynamic and dedicated people and at this point recruitment and staffing companies work as growth catalyst to match with high quality relevant people need. Even some large corporate houses have created their own staffing companies to satisfy their own talent needs. Still most of them are always open for recruitment outsourcing to find quality talent.

Till 2025 India have potential to become 6th largest market for recruitment and staffing industry:

Today, India is the 13th largest market at 6 Billion $ market size, growing at a pace higher than 15% plus. The global staffing space has matured and the growth rates have flattened to 1–2%. There are some factors that have supported formalization of employment in India, factors such as demonetization and GST. There are 23,000 recruitment companies in India. There are more than 10 staffing firms now who have a turnover in excess of 1000 crores, couple of them are close to 5000 crore turnover. Also there are some potential startups such as TIGI HR, Sutra HR, AasaanJobs and QuezX are participating to create a new edge of recruitment by providing unique quality best services. As due to COVID-19 the opportunities get suppressed for some time but with the government’s collaborative approach within a year it will emerge. There are lots of possibilities that many top corporate’s will come to India and set them plants, that will also help Indian recruitment industry to grow exponentially. All these factors are pushing India to reach the 20 billion USD market and overtake Netherlands which is currently the 6th largest market by 2025.

Activators for recruitment and staffing industry:

Technology companies will help Indian companies to become auto-pilot with the help of growing technologies. So Engineering and Technology organisations have to hire more ‘Just in time’ workforce. This is causing specialist staffing to rise. Funding pitch desks, venture capitalist, angel investors and other BFSI companies are rising in India which explore the new opportunity for next generation entrepreneurs and it won’t just help for funding needs but also help businesses to achieve fast-moving advantage.

Challenges will faced by recruitment and staffing industry:

Complex labour laws have increased compliance cost. Insignificant number of Integrated skilling schools hamper ready to deploy staff. Tax deduction at source on the top line makes it a cash intensive business. It’s a non-regulated industry and scope for lots of unscrupulous players thereby lowering the standards of delivery.

TIGI HR is contributing to increase the efficiency of recruitment and staffing industry:

TIGI HR Solution is one of the most sought-after recruitment services in the industry. Their services are not limited to matching candidates’ resumes with open job opportunities, they work to save time and resources by supplying their clients with only high quality, fully-vetted candidates whose skills and experience will be a true asset to their business. Through TIGI HR Solution.

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