2. Introduction Defining the ‘HR Industry’ is a challenging task, not only for the reason that there is no standard definition set one can refer to, but also because the dynamic and fragmented nature of the industry makes a unanimous classification almost impossible. In this story, People Matters attempts “to create a framework for this industry and share opinions from practitioners, industry players and expert professionals, to bring transparency and tangible information to the buyers in this industry: CEOs and CHROs”.
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4. Growing at a rate of 14%Composition & Segmentation:
22. Expert comments Every business has its own engagement models In terms of the expected growth of the industry, our estimate is that it will be directly linked to GDP and will grow at an additional 3% to 4%. E. Balaji, MD & CEO, Ma Foi Randstad The market is ripe for Consolidation There is potential for several billion dollar firms to grow in sectors like skilling, training and recruiting. Currently there are 28,000 players in recruitment and 100 payroll firms. Pankaj Bansal, CEO & Co-Founder, PeopleStrong
23. Expert comments Mindset to training has witnessed a paradigm shift The training industry estimates the total market size at around INR 11,000 crores and training investments represent 0.5-1% of revenues. Pallavi Jha, Chairperson & MD, Walchand PeopleFirst Ltd. Investment in HR Tech. in India is still too low Considering investment of HR technology is a percentage of people cost, I see this spend is somewhere between 0.10% and 0.25% today, which is too low. Balaji Ganesh, CEO, Adrenalin
24. Expert comments Speed of institutional building is crucial I think HR industry can be defined as the market formed through decision on buying products or services for any part of the human capital value chain. N.S. Rajan, Partner and Asia Pacific Head of Human Capital, E&Y The nature of vendors in India is very diverse There are three aspects in HR decision making : the internal HR perspective, the external perspective and whether the decision is transactional or strategic. Deepa Mohamed, Group Head HR & Training, SMC Group
25. Expert comments The conversation has changed from process to outcomes As an HR head or CEO, I am no more interested only in the process or system, but I also want to know the business implication of the intervention. Deepak Dhawan, CEO & Founder, Talentonic We need solutions that customized to the Indian reality What I see in the service provider side is that each company focuses on selling what they have in their offerings and by force fitting a solution, rather than co-evolving solutions. Krish Shankar, Director HR, Bharti Airtel Ltd.
26. Expert comments It’s time to put the H (human) back in HR It is time for the HR team to do its two most important tasks: partner with the business leaders build engagement with employees. Aquil Busrai, CEO, Aquil Busrai Consulting Organizations are choosing horses for courses HR budgets are growing since quality of people attraction and retention are driving growth and success of businesses more than ever before. Dhruv Prakash, MD, India, Leadership & Talent, Consulting, Korn/Ferry International
27. Expert comments HR Consulting is not a Business Whether you are a manager or a consultant, if you are in human services profession, the primary purpose is service. Dr. T. V. Rao is, Chairman, TVRLS, Founder President National HRD Network, Founder Honorary Director, AHRD The HR consulting industry is facing a credibility gap In the HR consulting space, the data services still account for more than 50% revenue of large firms. Debabrat Mishra, Startup Entrepreneur, Led HR consulting for MNCs across South Asia and Middle East
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