News: Dutch HR Randstad to tap Indian mkt
(PTI 16/04/2006) New Delhi - After acquiring majority stakes in Indian HR firms EmmayHR and Team4U, the E6.6-bn recruitment and staffing company Randstad Holding nv plans to consolidate its position by targeting sectors like retail, IT, BPO, telecom and banking and insurance.
"Sectors like IT, BPO, retail, banking and finance hold huge potential and we are looking to further develop the local market here," Managing Director, Business Development India, Randstad, Theo Van Den Berg said.
India, China and Japan were the main markets in Asia that offered immense possibilities, with India poised to develop at a very fast pace, he said, adding that a large young population, good educational standards and internationally-oriented people were factors working in India's favour.
The HR staffing and recruitment segment in India is currently around Rs 2,000 crore and Randstad's acquisitions of two Indian firms had given it a market share of 10 per cent in the high revenue staffing market, where the company was looking at doubling numbers every year.
"We are aiming at doubling our figures annually, be it the growth rate, revenues or the number of people we recruit," he said, adding that the company would concentrate on long-term growth and stability and not look at mere short-term gains.
Revenues for Team4U, in which the Dutch major acquired a 57 per cent stake for an undisclosed amount, stood at 15 million euro in 2005, which Randstad hoped to double in the next year.
Berg estimated that the Indian HR market would double to a billion dollars in the coming 2-3 years and hoped that Randstad would emerge as the market leader in India in as many years.
"The position we are looking for ourselves in the billion dollar HR industry is that of a market leader. We want to achieve profitable growth but in a sensible way," he added.
Before acquiring stake in the staffing company Team4U, Randstad had bought a 51 per cent share in EmmayHR, that focuses on permanent recruitment. The company did not rule out the possibility of creating synergies between the two.
"The two companies focus on different areas but we are looking at synergies. We can work with mutual clients and provide our services to them," he said.
"Sectors like IT, BPO, retail, banking and finance hold huge potential and we are looking to further develop the local market here," Managing Director, Business Development India, Randstad, Theo Van Den Berg said.
India, China and Japan were the main markets in Asia that offered immense possibilities, with India poised to develop at a very fast pace, he said, adding that a large young population, good educational standards and internationally-oriented people were factors working in India's favour.
The HR staffing and recruitment segment in India is currently around Rs 2,000 crore and Randstad's acquisitions of two Indian firms had given it a market share of 10 per cent in the high revenue staffing market, where the company was looking at doubling numbers every year.
"We are aiming at doubling our figures annually, be it the growth rate, revenues or the number of people we recruit," he said, adding that the company would concentrate on long-term growth and stability and not look at mere short-term gains.
Revenues for Team4U, in which the Dutch major acquired a 57 per cent stake for an undisclosed amount, stood at 15 million euro in 2005, which Randstad hoped to double in the next year.
Berg estimated that the Indian HR market would double to a billion dollars in the coming 2-3 years and hoped that Randstad would emerge as the market leader in India in as many years.
"The position we are looking for ourselves in the billion dollar HR industry is that of a market leader. We want to achieve profitable growth but in a sensible way," he added.
Before acquiring stake in the staffing company Team4U, Randstad had bought a 51 per cent share in EmmayHR, that focuses on permanent recruitment. The company did not rule out the possibility of creating synergies between the two.
"The two companies focus on different areas but we are looking at synergies. We can work with mutual clients and provide our services to them," he said.
posted by InCar Group Press Room at 13:18
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