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August 2008
Recruitment Industry & CareerNet
Authored by: Anshuman Das, Co-founder, CareerNet Consulting
With global outsourcing at its peak, India is at a threshold of being the biggest gainer and the next IT destination on the globe. A testimony of this fact is a NASSCOM study says that IT industry in India would contribute to 7% of India's GDP by the year 2010. India has steadily evolved along with the IT industry in past and is moving up the value chain. India today is no longer seen as a low cost centre but is seen more as a competency centre. More and more companies are offloading their core quality Research and development work to their Indian centers. India is also becoming an alluring Business Market for most the behemoths like Walmart, Tesco, Vodafone, Cisco, Microsoft, Oracle, Nokia. Entrepreneurship is at its peak, PE and VC funds have created separate focus India groups / funds. In fact Industry is also forecasting that the next IT Wave will be emerging out of India and China. Today India as a location for corporates and professionals in no more an emotional Indian phenomenon but a business and a career decision.

With this evolution of Industry and business, the Talent in India has also evolved. The leadership in running and managing these centers and Business has evolved. Leadership in India from just managing the day to operations of non-core / critical activities has moved to building confidence in the Global Board of doing some core and fundamental activities in India. The ownership of Products and business is now increasingly being given to India in a welcoming fashion. The Global Business strategy is now having India on its radar in a big way with a much focused attention to Indian Leadership. I would really commend our managers of yesterday who are transforming to be the "true leaders" of today and will be definitely represent the Global Leadership of tomorrow.

All this growth and Leadership is sustainable provided we are able to manage the fulcrum of these activities - "Talent of today for needs of tomorrow". Today Talent has become a cause of rejoice as well as a caution for future. The salary cost pressures are high, attrition rate has crossed all limits, Talent expectations are haywire, Innovation in recruitment methodologies is not keeping pace with growth. To top all this the increasing expectations of Global management from Talent management Leadership is putting a very heavy pressure on the system. In nutshell there seems to be an emerging crisis in Talent Management in India very soon. Though our Talent Managers and Talent Management companies are really trying hard to evolve from the days of just a client –vendor model to a partner model but there is a long way to go for.

Our India Talent Management space has gone for a sea change and so have the Talent Management companies. From a process point it has morphed from resumes in paper to being electronic and automated and then further to an interactive and transparent system. On the Talent acquisition side the change has been significant – from a mere match making to career counseling to competency based assessment hiring and now heading towards a community based hiring system. Similarly on our client side it has moved from a requirement based fulfillment system to a turnkey project based hiring to value added services (VAS) hiring with a potential future of "Recruitment on Demand" hiring. I am sure with horizon of recruitment spectrum becoming broader and clear the Leadership in this space is also evolving from just being tactical in approach to now being strategic in approach, being a sub function of HR to now having a separate representation in the board rooms.

This rapid evolution in the Talent Management space and in the Industry has opened up various growth opportunities for a firm like CareerNet. To harness these opportunities CareerNet as a company to focuses on building its 4 basic blocks of growth –namely- Technology, Assessment, Consulting based Client Solutions and Candidate Community Network. I am sure these 4 basic blocks will give us a foundation on which we all can build a truly global company.