The Industry of HR


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The Industry of HR

  1. 1.
  2. 2. Introduction<br />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. <br />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”.<br />
  3. 3. Composition & Segmentation of HR Industry<br />The ‘Industry of HR’ <br /><ul><li> Estimated to be more than INR 10,000 crores
  4. 4. Growing at a rate of 14%</li></ul>Composition & Segmentation:<br />
  5. 5. The Players in HR Industry & their elements<br />HR Consulting:<br /><ul><li> HR consulting practices of audit firms
  6. 6. Specialist HR consulting
  7. 7. Niche or specialized Players
  8. 8. Freelancers</li></ul>HR Technology:<br /><ul><li> HRMS modules of ERPs
  9. 9. Stand-alone HR software
  10. 10. Specialized HR solutions</li></ul>Recruitment:<br /><ul><li> Executive Search (Retained Search)
  11. 11. Search & Recruitment (Contingent Search)
  12. 12. Staffing & Temping
  13. 13. Portals
  14. 14. RPO</li></ul>Learning & Development:<br /><ul><li> Leadership & Behavioral Training
  15. 15. Business Schools’ Executive Education
  16. 16. Freelancers</li></ul>Outsourcing and Others:<br /><ul><li> HRO solutions of large BPO players
  17. 17. Functional HR Outsourcing players
  18. 18. Outsourcing consulting players
  19. 19. Companies that provide specialized services with high expertise</li></li></ul><li>Key Challenges<br />
  20. 20. The Next League<br />
  21. 21. The HR Industry matrix<br />
  22. 22. Expert comments<br />Every business has its own engagement models <br />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%.<br />E. Balaji, MD & CEO, Ma Foi Randstad<br />The market is ripe for Consolidation<br />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.<br />Pankaj Bansal, CEO & Co-Founder,<br />PeopleStrong<br />
  23. 23. Expert comments<br />Mindset to training has witnessed a paradigm shift<br />The training industry estimates the total market size at around INR 11,000 crores and training investments represent 0.5-1% of revenues.<br />Pallavi Jha, Chairperson & MD, Walchand PeopleFirst Ltd.<br />Investment in HR Tech. in India is still too low<br />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.<br />Balaji Ganesh, CEO, Adrenalin<br />
  24. 24. Expert comments<br />Speed of institutional building is crucial <br />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.<br />N.S. Rajan, Partner and Asia Pacific Head of Human Capital, E&Y<br />The nature of vendors in India is very diverse<br />There are three aspects in HR decision making : the internal HR perspective, the external perspective and whether the decision is transactional or strategic.<br />Deepa Mohamed, Group Head HR & Training, SMC Group<br />
  25. 25. Expert comments<br />The conversation has changed from process to outcomes<br />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.<br />Deepak Dhawan, CEO & Founder, Talentonic<br />We need solutions that customized to the Indian reality<br />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.<br />Krish Shankar, Director HR, Bharti Airtel Ltd.<br />
  26. 26. Expert comments<br />It’s time to put the H (human) back in HR<br />It is time for the HR team to do its two most important tasks: partner with the business leaders build engagement with employees.<br />Aquil Busrai, CEO, Aquil Busrai Consulting<br />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.<br />Dhruv Prakash, MD, India, Leadership & Talent, Consulting, Korn/Ferry International<br />
  27. 27. Expert comments<br />HR Consulting is not a Business<br />Whether you are a manager or a consultant, if you are in human services profession, the primary purpose is service.<br />Dr. T. V. Rao is, Chairman, TVRLS, Founder President National HRD Network, Founder Honorary Director, AHRD<br />The HR consulting industry is facing a credibility gap<br />In the HR consulting space, the data services still account for more than 50% revenue of large firms.<br />Debabrat Mishra, Startup Entrepreneur, Led HR consulting for MNCs across South Asia and Middle East<br />
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