Randstad completes restructuring Indian operationsMarch 23rd, 2009 - 11:24 am ICT by IANS
By Venkatachari Jagannathan
Chennai, March 23 (IANS) The Netherlands-based 17-billion-euro ($23-billion) global staffing solutions company Randstad Holding has completed restructuring its Indian operations, officials said.
The company, which has seven outfits in India, will now offer flexi-staffing or temporary staffing solutions under the Randstad brand and the recruitment placement solutions under Ma Foi.
Beresford Blake Thomas (BBT), EmmayHR Services Ltd, Team HR Services (popularly known as Team4U), Ma Foi Consulting Solutions, Ma Foi Global Search Services and Ma Foi Management Consultants are the seven Randstad companies operating in India.
“We have consolidated two outfits - Team4U and EmmayHR’s three branches under Ma Foi. The process of integrating EmmayHR’s Mumbai operations is now on,” Brian Wilkinson, a Randstad board member, told IANS here.
While BBT, EmmayHR and Team4U were part of Randstad, the Ma Foi group came under its fold when it acquired another Netherlands-based staffing solutions company Vedior last year.
Officials said the brand consolidation was a company-wide phenomenon, not restricted to India.
“Nearly 80 percent of our revenues are from Randstad brand. By the end of this year, 95 percent of our various services will be rebranded,” Randstad chief executive and chairman Ben Noteboom told IANS.
Talking about the company’s business strategies, Wilkinson said Randstad did not believe in changing the names of all acquired brands.
“The acquisition of Vedior got Randstand nearly 100 brands. It’s a macho act to change everything. We are not for that,” he said.
The company followed this strategy when it acquired Ma Foi, a popular brand in India’s HR space.
Randstand retained the brand name with a tag line - Ma Foi, a Randstad Co.
Asked about Randstand’s successful Indian acquisitions, Wilkinson said: “Most acquisitions fail if people are insensitively handled. In May 2004, Vedior was acquired by Randstad; the same management team still exists under the new banner.”
Randstad started integrating its Indian subsidiaries in August last year with major reshuffles at the top level.
Ma Foi CEO K. Pandiarajan has been appointed Randstad India’s managing director in the place of Monisha Advani who was made EmmayHR’s managing director.
Pandiarajan was also appointed the CEO of Team4U.
Advani, who quit EmmayHR earlier this month, told IANS that the restructuring operations open “exciting opportunities to explore closer synergies among Randstad’s Indian acquisitions that will benefit our clients, candidates and colleagues”.
Noteboom said the company at present did not have any acquisition plans.
“Our prime target is organic growth. Acquisition is an entry strategy,” he said.
While Randstad’s Indian operations currently contribute around 100 million euros ($136 million), he said India and China were two important growth markets for the company.
“Once (the) economy stabilises, staffing companies like Randstad would start logging growth,” he added.
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