The IT Companies Set To Open Up Opportunities For Employment Agencies
Over the past few years, the IT companies have been flocking the Indian market and setting up their service locations in the country. The statistics show that every year around 1.5 lac students pass out as certified engineers in India. Around 60 to 70 percent of the engineers specialize in the IT segment. But sadly, nearly 80 percent of the engineers turn out to be unemployed. A few years back the IT companies saw this talent pool as a source of cost effective and knowledgeable workforce and this trend has been more or less sustaining until now. But these companies have started to face other challenges in this regard.
Due to the increase in the number of players in the market, the attrition rates have gone up to significant level. The sufficient hikes, better job positions and benefits have resulted in the augmentation of job changing tendencies among the professionals. The tech giant Infosys faced an attrition rate of 18.9 percent during the first quarter of 2015. In 2014 the attrition rates were even higher during the same period and reached up to 20.4 percent. TCS also faced an attrition rate of 15.9 percent during the mid of 2015. The start-up companies have also posed a threat for the large companies. Offering better packages and scope of working with new and innovative technologies give the professionals a chance to broaden their knowledge horizon and increase the career growth scope. These factors have led to the inclination of the IT companies towards employment agencies for the recruitment and retention of the effective workforce. The benefits gained due to recruitment through employment agencies are:
- They have the in and out knowledge of the market and can strategically forecast the short terms and long term trends in an efficient manner. IT companies venturing in from other geographies can take this insight in to account and manage the employment process accordingly.
- Through these agencies, the companies get candidates and not applicants. This might sound a bit off the track but it is beneficial at the employer end. Direct employment process results in the bombardment of applicants. Analyzing the professional expertise and behavior becomes a difficult task. The employment agencies that have been associated with IT staffing are well versed with the market and the industry trends. They specialize in analyzing applicants through tools and initial screening. Hence the recruits have a better tendency to stick to the brand.
- The highly developed networking and access to a large database of profiles increases the chances of finding the right professionals for the job.
- Lastly, one of the crucial factors of recruitment is the budget. Often finding talented individuals with right skill set is straightforward but fitting the higher compensation demands becomes tedious for the employment managers. The employment agencies have largely contributed on this ground to the IT companies in finding right candidates within specified budget.
Employment agencies are largely being sought after by IT companies under current job market scenario. GlobalHunt, a premium employment agency, has assisted its clients towards successful IT staffing for more than a decade. Please visit the website for further queries.
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