Kishore Biyani is launching a recruitment company just when companies are resorting to lay-offs and hire-smart policies to optimise human resources expenditure.
Inks joint venture to set up Future Education
MUMBAI: Good timing or bad? Only time will tell.
Kishore Biyani is launching a recruitment company just when companies are resorting to lay-offs and hire-smart policies to optimise human resources expenditure.
Biyani’s Future Group has entered into a joint venture with Net Employment Services Pvt Ltd (NET HR) to launch Future Education Ltd (FELTD). The financial details of the venture could not be ascertained.
Damodar Mall, group customer director and erstwhile CEO of innovation and incubation at Future Group, refused to give details. “It is too early to talk about this,” he said.
Future Education will offer recruitment and other HR services, career solutions and career counselling. It is also understood to have instituted a centre at Thane.
Recruitment for personnel across levels for the new business venture has begun since September-end. Someone has already appointed to head the venture.
Sanjay Jog, chief people officer at Pantaloon Retail (I) Ltd, could not be reached for more details.
According to Ma Foi Management Consultants, the staffing industry in India, both organised and unorganised, stands roughly at Rs 4,500 crore. While the staffing industry has been growing at 25-30% earlier, the growth in the recent past has been 18-20%.
“I expect this growth to correct to 15% this year based on our analysis of the events that have unfolded in the last few months,” said E Balaji, CEO and director, Ma Foi.
Staffing, being a growth sector industry, the business potential is not expected to slide too much. “Sectors like pharma, healthcare, life sciences, infrastructure, energy etc will probably compensate for the slow down in the information technology & IT-enabled services , and banking & finance sector,” said Balaji.
t_ashish@dnaindia.net
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