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The Advent of the Placement Industry
Recruiters and candidates are two entities entirely depending on each other. Most of the times, one is not easy available for another.
Two decades ago, candidates used to spend substantial time of their career in job selection because of the lack of accessibility.
Newspapers and manual search were the only ways to find each other. This led to wastage of time and disappointment amongst candidates and companies.
The scenario changed gradually, and the emergence of placement agency is held completely
"Outsourcing" is the concept behind placement agencies. It is the companies in many of the cases who render the services of placement agencies in order to select candidates on their behalf. The level and quality of services varies from one agency to another.
Renowned placement agencies offer specialized services to the companies like- conducting tests on behalf of the company, provide orientation programs, transport facilities, accommodation facilities for overseas candidates and many more.
Establishments classified under this industry may assist either employers or those seeking employment.
As per the statistics available in India. while 150 lacs agencies help non-professional labor with placements such as construction, transport and certain industrial jobs, about 800 lacs are associated with professionals in ever-widening fields, including nursing, teaching and business process outsourcing.
According to a research, 80 percent of companies now outsource at least one HR activity, and the number is rapidly growing. Increasing numbers of organizations are turning to specialized firms to assist various aspects of human resource management. While outsourcing process makes sense for many reasons, the primary benefit is reduction of costs of routine transactional and administrative. Another key reason is the perception that a company should outsource all non-mission critical aspects of its business for better results.
The Placement consultant agencies, popularly known as the professional employer organization (PEO), are well-versed with every industry hiring process and the specific requirements. They are efficient in taking on the entire scope of human resources activity. PEO clients ranges from small- to medium-sized to huge companies. All of them sign up with a PEO, obtaining better deals on the purchase of benefits as a group rather than as a single small entity. With an association with placement agencies, small firms can afford to give employees a range of benefits comparable to those offered by larger companies. This helps smaller companies to compete with bigger companies in hiring top candidates.
Larger companies outsource HR tasks, but with a different and typical objectives. The most commonly outsourced function is employee assistance, and outplacement services. PEOs does enhance the efficiency of the companies with value added services.
Placement industry and candidates
Placement agencies offer constant exposure of the industry and its dynamics to the candidates. In most of the agencies, placement session begins with Pre-Placement Talks. The objective of this preliminary interaction is to assist students understand various company philosophies, ethics, expectations and operations, job profile and the package offered. Students are also briefed about the nature of orientation or training programmes that they would be expected to undergo if selected.
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