1. Executive Summary
In today’s competitive world every company tries to get best possible candidates for the competitive advantage so, recruitment and selection of right candidates is important for all companies. It is a major function of the human resource department. For IT companies’ recruitment and selection is an integral part as attrition in IT companies is very high.
Recruitment is the process of searching the candidates for employment and stimulating them to apply for jobs in the organization. The basic purpose of recruitments is to create a talent pool of candidates to enable the selection of best candidates for the organization, by attracting more and more employees to apply in the organization.
The project named Recruitment Life Cycle was carried out at Persistent Systems Ltd. There are two types of recruitment at Persistent, campus and lateral recruitment, campus recruitment is conducted once in a year at the respective colleges and lateral recruitments are conducted as per the requirements. For lateral recruitment recruiter needs to understand the job description to find the right candidates for the job then recruiter needs to source the candidates from different job portals like Monster, Naukri etc. After sourcing, candidates are screened by different interviewers at different levels. If candidate clears all the round of interviews then an offer is made to employee depending upon the grades specified by the interviewer.
The recruiter also had to meet targets, i.e., he had to see to it that a certain number of candidates sourced are joining the organization. The conclusions that can be drawn from the project are the recruiter must understand the importance of that particular job posting to find the best fit candidates. Also the automation in recruitments is the need of an hour. The Option of employee reference must be used properly to attract the right candidates.
Thus, it was a very dynamic and challenging job that demanded tremendous efforts, persistence, professionalism, and continuous efforts on the part of the recruiter.
2. Overview of IT Industry
The Indian information technology (IT) industry has played a major role in placing India on the international map. The industry is mainly governed by IT software and facilities for instance System Integration, Software experiments, Custom Application Development and Maintenance (CADM), network services and IT Solutions. According to NASSCOM's findings Indian IT-BPO industry expanded by 12% during the Fiscal year 2009 and attained aggregate returns of US$ 71.6 billion. Out of the derived revenue US$ 59.6 billion was solely earned by the software and services division. Moreover, the industry witnessed an increase of around US$ 7 million in FY 2008-09 i.e. US$ 47.3 billion against US$ 40.9 billion accrued in FY 2008-09
IT Outsourcing in India
As per NASSCOM, IT exports in business process outsourcing (BPO) services attained revenues of US$ 48 billion in FY 2008-09 and accounted for more than 77% of the entire software and services income. Over the years India has been the most favorable outsourcing hub for firm on a lookout to offshore their IT operations. The factors behind India being a preferred destination are its reasonably priced labor, favorable business ambiance and availability of expert workforce. Considering its escalating growth, IBM has plans to increase its business process outsourcing (BPO) functions in India besides employing 5,000 workforces to assist its growth.
In the next few years, the industry is all set to witness some multi-million dollar agreements namely: * A 5 year agreement between HCL Technologies and News Corp for administering its information centers and IT services in UK. As per the industry analysts, the pact is estimated to be in the range of US$ 200-US$ 250 million * US$ 50 million agreement between HCL Technologies and Meggitt, UK-based security apparatus...
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