Background Statistics
PROBLEM STATEMENT
- India has over 100 million jobseekers - 44 million
of whom are registered with some 945 Govt. Employment Exchanges.
- In 2003, employment exchanges could place only 1.5
lakh registered jobseekers.
- Some 2 million jobseekers are registering
with the Employment Exchanges every year.
- 17.2% of those registered are graduates.
- Of India's workforce, some 7 million are in
the "Organised" sector.
- Some 850,000 professionals are working in
the IT/ITES sector.
- Manpower requirement in IT/ITES/BPO Sector is
growing at the rate of 30% per year and expected to reach 5
million by the year 2012.
- The churn-rate in BPO sector ranges between 60%-90%
(Last year, Spectramind's annualized churn-rate was 90%).
- Some 3 million students graduate from Indian
colleges each year, of which, approx. 300,000 are engineering
professionals.
- Churn-rate in IT sector ranges between 15% - 25%.
- Company like Infosys, last year received ONE
MILLION email resumes against their various job-advts! Processing such
a huge volume of resumes, to short-list a few thousand for interviewing to
ultimately appoint 12,000, is getting to be a nightmare for
Recruitment managers everywhere.
- Between April & Dec 2004, WIPRO made 40,000
employment offers!
- In his budget speech, Mr. Chidambaram said,
"IT Sector, by 2009, will offer an additional 7 million jobs".
- Major Indian Jobsites
(Monster/Naukri/JobsAhead/Jobstreet etc), between them, claim to have
resume database of 7/9 million professionals. Discounting
duplicates, this could be 5/6 million.
- Major Indian Jobsites, between them boast of
- 250,000 job-postings database
- 10,000 NEW job-postings DAILY (—although
many are repeated day-after-day!).
- 15,000 corporate clients.
Problem Statement
Recruitment problem consists
of:
- Overall, the problem boils down to
- Matching the RIGHT candidates with jobs
which are RELEVANT to their skills/functional competence
- Doing this "match-making", not only very
fast (to shorten the recruitment cycletime to a matter of few days), but
to do it,
- accurately
- automatically
- reliably
- consistently
- Delivering the Relevant job-alerts to the Right
candidates, as soon as Vacancies arise (job-broadcasting in realtime) and
not passively wait for candidates to conduct "jobsearches" on
jobsites, to perhaps "chance-upon" a relevant job!
- Any "product/service" that can carry-out
the above-mentioned tasks efficiently/electronically/automatically, would
be in high demand and wholeheartedly embraced/adopted by both
- Job-seekers
- Recruiters.
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