RPO
- Recruitment Process Outsourcing
The next big wave
www.corp-corp.com [Now www.techfetch.com], US Job Portal, took the initiative of
creating awareness about RPO at Hyderabad, India, on 1st August 2008, by organizing
a RPO conference at Jubilee Hills, Hyderabad.
Shri. R. Damodhar Reddy, IT Minister, Andhra Pradesh, inaugurated
the Conference. Around 200 top level executives from various IT Companies participated
in this Conference.
Recruitment Process Outsourcing (RPO) has become a hot topic. HR departments are
turning to RPO as it effectively helps in cutting down the cost and adding value
to the enterprise. Like BPO (Business Process Outsourcing), KPO (Knowledge Process
Outsourcing), LPO (Legal Process Outsourcing), now RPO is creating millions of Job
Opportunities in India.
US based IT Consulting companies are already setting up their offshore recruitment
offices at India. More than 3000 companies have already started their operations
at Hyderabad which has created 1000's of Jobs in the Recruitment field.
India is the first choice for many overseas companies as an outsourcing destination
for RPO services. Good English speaking skills and millions of graduates are coming
out of Indian schools are constantly growing.
Outsourcing, whether it is BPO (Business Process Outsourcing), KPO (Knowledge Process
Outsourcing), LPO (Legal Process Outsourcing) or RPO (Recruitment Process Outsourcing)
is creating millions of job opportunities in India. Domestic revenues grew by 26%
at $11.6 billion. IT services exports grew 28% to post revenues of $23.1 billion
while BPO exports were up 30% with revenues of $10.9 billion. Engineering services
and products exports went up 29% with revenues of $6.4 billion. By 2018, the industry
is expected to increase its workforce to eight million from two million now. A study
conducted this year by Nasscom and research firm Everest estimates "conservatively"
that between 2008 and 2012, the industry will see a compounded annual growth rate
(CAGR) of 28-30%. But it believes this could go up to as high as 45-50 % if supply
constraints are eased. "Only Supply is the constraint, not demand," in this ITES
Outsourcing industry.
Recruitment is a function that is perhaps on the edge of the debate around as to
whether it constitutes a 'core-competency' for the enterprise or not. After all
if people are a company's number one asset, then it might follow that getting the
right people is by definition a core competency.
India has clearly been the market leader with over 50 percent of the global market
in offshore services. As the market leader, it is imperative that India continue
to set standards for the global industry. By focusing on operational excellence
as the next frontier in off shoring India can realize aspiration of achieving US
$ 60 billion in export revenues by 2010.
Press Release - Corp-Corp.com
01-August-2008 - Hyderabad, India