efytimes - November 26, 2010
Adecco India, the Indian arm of the €14.8 billion Adecco Group, the global leader in HR services and a market leader in India, today announced that it has become the first ever HR firm in India to scale the 100,000 peak in the number of temporary staff on its rolls. The company crossed the magic number in November, 2010
Adecco India also unveiled its plans to scale from 80 offices across India to 120 by 2011 to make it the firm with the largest and widest reach in the country. The network will arm Adecco with the capabilities to source the right talent and provide JIT (Just-In-Time) workforce to over 1500 customers, not only in the metros but also in tier II and III cities, enabling the company build on its leadership positioning in the space. These 100,000 associates are placed across diverse verticals like Infrastructure, IT, Retail, Logistics, Telecom, FMCG, Engineering, Banking and Financial services among others. Sudhakar Balakrishnan, Managing Director and CEO of Adecco India, commenting on the achievement, said, “It is a proud moment that we put 100,000 people to work everyday and with this milestone, I am extremely delighted that Adecco India is one of the largest private sector employers in the country. Our employees are today placed in some of the leading global and domestic majors, not only at entry level but also in senior and middle levels. With an extensive network of 80 branches, we are closer to our clients and associates across geographies. This enables our customers to further expand their services and business to tier II and III cities as Adecco can provide them a head start to penetrate these cities with the right talent.
In 2011, Adecco India plans to expand its branch network to 120 offices.” He further added, “Flexible employment has witnessed positive growth in the last couple of years and has had great acceptance by candidates and employers, this can change the future of work in India for good and positively impact the economy.” Due to urbanization, it is estimated that there will be 70 cities with population of over 1 million by 2020. 140 million people are expected to move to cities by 2020 and about 700 million by 2050. India’s most prized resource is its workforce and the labour market is about 540 million people but only 100 million make up for the organized workforce. “Our country’s young workforce of 240 million between the age group of 20-28 can be a big differentiator for 8.5% + economic growth in the future and the staffing companies in India can benefit immensely from the demographic dividend. Temping could be the first form of employment for many aspiring young Indians”, said Sudhakar Balakrishnan. Providing further insights, Sudhakar Balakrishnan said, “The staffing industry penetration is today about 0.3-0.5% among the organized workforce compared to developed economies where the penetration levels are around 2.5% to 3% of the organized workforce. With the acceptance of temping, the industry is getting organized and there is a possibility of the penetration level to go up to 1.5-2% of the organized workforce over the next 5 years. Government regulations will have a positive impact on the industry.”
As companies expand their operations in India, Adecco will have a head start with its 120 offices and can leverage its distribution network and achieve scale, to cater to both expanding needs of clients and access talent in more markets