With a positive growth in the Indian economy after quite a monotonous time, the Make In India campaign is showing head on effects after its launch post four years of the new govt. Having boosted the flow of foreign funds in India, India witnessed 46% growth in Foreign Direct Investment (FDI) equity inflows in the year 2015-16 and the highest FDI inflows at $ 55.5 billion. Terming India as the fastest growing major economy with GDP growth rate above 7.6% in 2015-16, International Monetary Fund expects projected growth rate above 7% till 2020.
The emerging economic scopes for manufacturing sector wherein deployment of advanced technology will help realize the market and give a lift to the service sector too. As the population is growing fast, such Make in India campaign does sound to be a profitable venture for the country as a whole. This has indeed given way to more job creations since a rich involvement in manufacturing niche products will involve more manpower and raise more jobs for the youth.
India is showing the signs of a good GDP growth factor that has accelerated in each of the last four quarters coming over 7.7 percent for the quarter ending March and the majority of people who are not “wage earners” are either self-employed or are already into the manufacturing business.
Since the inception of many Govt. policies these days, the potential ground for business growth is forecasted to create more work and consequently, a greater number of jobs this time. As the unemployment rate had a slight fall of 0.33% from 5.64% in May according to Center for Monitoring Indian Economy, data show the tertiary sector indeed has welcoming signs of improvement and expected employment potential for the years to come.
India has also become a technology savvy country where it stands second in the online market share just behind China, the use of digital platform to communicate with the masses has been on the rise as it is expected that there will be 635.8 users in India alone in 2021 and with big players coming in like Amazon and Flipkart, the success story of an e-commerce platform is quite but revealing.
This potential rise in ecommerce has encouraged many Indian firms to get deeper into the useful exploration of the market using internet tools like search engine optimization. We also see how placement agencies have explored social media for this reason to communicate and access both job seekers and job makers owing to the rise in the penetration rate of social media users up 19% in statistics showing from January 2018.
The Placement Consultant has become very powerful in the context of an upcoming internet market in India and it is tapping up prospects by exploring social platforms which are becoming proof an emerging job opportunistic podium.
If we take the case of LinkedIn alone, India user network has seen tremendous engagement among the youth crossing the mark of 50 million users in the country, thus, creating an ocean of job opportunities with greater number jobs, and skills.
From small companies to multinationals, placement consultants have become an important contributor to the job market. Because of the upcoming competition, requirement for professionals and the emerging economic progress, placement agencies are making extensive use of the prospect of a localized linkup between the job seekers through exclusive social job sites like LinkedIn with initiatives to drive opportunities and connect professionals enabling them being more productive and successful in their careers. Frankly, today the role of a consultant has become somewhat proficient and very much pronounced.
Direct channels of communication between the job seeker and the placement consultants are now apparently very robust and rendering active chances of more job openings at our doorstep. These firms have now quite effectively reached the masses with greater results and efficacious employment offerings. The role of a recruitment agency is much more progressive and vital than it used to be around a decade ago.
Conclusion: The Staffing Industry has seen a constant rise in its employment market percentage with a growth rate of 10-15% per year. With India rising, it is important to note how placement companies have positioned their growth from the already INR 26,650 crore markets to cater to both temporary as well as permanent employment placement and all other employment related services. The importance of the placement industry cannot be ignored because:
In total, the internet savvy consultants have become very frugal in dominating the job market in India and overseas. Surely, in this emerging market, people can perhaps get the services of a Best placement consultant in Panipat or Delhi and secure his career.
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