Thaindian News

Chennai, April 28 (IANS) The Netherlands based human resource services company Euro 14.2 billion revenue Randstad is betting big on large banking financial services and insurance (BFSI), information technology (IT) and pharmaceutical companies for its new service.

“Our focus is trained on Fortune 500 companies in India operating in BFSI, IT and pharma sectors. Globally we are looking at emerging economies for this service,” Kelly Quirk, managing director of Randstad Corporate and Managed Services, told IANS.

According to her, the RMS endeavours to manage the human resources supply chain of large multinational corporations (MNC) and this offering fetches Randstad revenue of around Euro 2.5 billion.

Quirk said under RMS the company offers two solutions, Managed Services Programme (MSP) and Recruitment Process Outsourcing for companies that take on board large number of people either as temporary or permanent workforce.

She said the MSP will provide around 5-10 percent cost savings and value addition to large companies through increased efficiencies, reducing duplication in efforts and time and reduced attrition rates.

The financial services, pharma and the IT sectors are the leading adapters of the MSP model in the US and the potential in India is huge as these sectors are logging good growth, she felt.

The global market for MSP that addresses a company’s need for contingent work force is around $30 billion.

“Around 25 percent of the contingent work force spends in US and nine percent in UK is done through MSPs. The market is expected to grow fast in Europe and in the rest of the world,” Quirk said.

She said Randstad has around 250 clients globally for this service.

Speaking about the other offering - Recruitment Process Outsourcing- Quirk said it would help corporates to manage their supply chain of large permanent work force intake and improve process efficiencies in hiring.