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Starting A Placement Firm - Business Process

cancerpuja Started The Discussion:

Hi Everyone

This is Puja from Delhi. I am new entrant to this site.

I am very keen to start my own Execuctive Search Firm. I have a few questions wherein I need your expert guidance.

1. What are the legal requirements to open a Company.
2. What is the best way to get clients on board.
3.How many minimum clients should one have to start the company.
4. By when is one expected to see returns coming their way.


Looking for your helpful tips and infos.

Thanking in anticipation

Puja

prashaant - Contributing Member
hi pooja my be i can help you plz mail me asap
i am a trainer as well as prepare training modules also .why i am asking b.cos i have so much material related to your requirement you are at starting stage that might help you in a big a way.........
i am in delhi only...........

devnandha - Contributing Member
Hi Pooja,

I do not aware how many years of experience you have in your domain....but following information would be definately helpful to you in your new venture...

Recruitment Business is vast by nature...The various kind of Permanent Staffing, Temp Staffing, RPO.........Further more screen down to Executive Search/ Contigency Recruitment/ Turnkey Recruitment/Advertised Recruitment..........

Pl. note down the recruitment business process in Permanent Staffing solution...........

1. Your friend need to decide which vertical (IT/Manufacturing/Civil/Pharma/Chemical/Oil&Gas many more......) he would like to operate/start business.
2. Make client database according to selected vertical.
3. Prepare contract document. Before starting any recruitment assignments you need to sign contract with client.
4. Recruitment Charges may vary from 8.33 % to 20% of CTC value of selected/joined candidates. Normally in India, recruitment organization are charging from organization.
5, You can use the job portals like naukri / monsterindia / timesjob for getting candidates databse. You may upload job position also.
6. There are few techniques for getting candidates like Head Hunting, Reference and Database.
7. You can manage your database with specialised software so inventory of the resumes would be in good conditions. Whenever you want any resumes with matching to perticular skill sets, you can get it from internal databse, if Inventory of resumes maintained in good condition.
8. Training could be imparted on Communication Cycle, Candidate Cycle, Pitching & Client Meeting, Campaign Management, Candidate Development and Client Cycle.
9. Accouting and Taxes (Income Tax as well as Service Tax).
10. Infrastructure Set up : Company Registration, Office Rent, Computer - Infra Cost, Employee salary, Job portals contract fee.

Enjoy!!! :D :D :D

DN

devnandha - Contributing Member
Hi Pooja,

I do not aware how many years of experience you have in your domain....but following information would be definately helpful to you in your new venture...

Recruitment Business is vast by nature...The various kind of Permanent Staffing, Temp Staffing, RPO.........Further more screen down to Executive Search/ Contigency Recruitment/ Turnkey Recruitment/Advertised Recruitment..........

Pl. note down the recruitment business process in Permanent Staffing solution...........

1. Your friend need to decide which vertical (IT/Manufacturing/Civil/Pharma/Chemical/Oil&Gas many more......) he would like to operate/start business.
2. Make client database according to selected vertical.
3. Prepare contract document. Before starting any recruitment assignments you need to sign contract with client.
4. Recruitment Charges may vary from 8.33 % to 20% of CTC value of selected/joined candidates. Normally in India, recruitment organization are charging from organization.
5, You can use the job portals like naukri / monsterindia / timesjob for getting candidates databse. You may upload job position also.
6. There are few techniques for getting candidates like Head Hunting, Reference and Database.
7. You can manage your database with specialised software so inventory of the resumes would be in good conditions. Whenever you want any resumes with matching to perticular skill sets, you can get it from internal databse, if Inventory of resumes maintained in good condition.
8. Training could be imparted on Communication Cycle, Candidate Cycle, Pitching & Client Meeting, Campaign Management, Candidate Development and Client Cycle.
9. Accouting and Taxes (Income Tax as well as Service Tax).
10. Infrastructure Set up : Company Registration, Office Rent, Computer - Infra Cost, Employee salary, Job portals contract fee.

Enjoy!!! :D :D :D

DN

mohan - Contributing Member
Hi Devnanda, that was so informative. Thanks a ton ! Presently, i am a freelance recruiter based at Bangalore, and, have plans of quitting my job in a few months time and going full time with recruitments.

Thanks a lot !

Mohan

devnandha - Contributing Member
Hi Mohan, Thank you very much, Are you planning to do full time job in recruitment business ? of are you planning to open recruitment consultancy firm ? Regards, DN

mohan - Contributing Member
Hi Dev,..got your mail notification. So far i have been successful in screening candidates and placing them in companies. Yes, i want to go full time into recruitments, because i have realised there is so much potential in terms of earnings & opportunities.

I basically am a six-sigma professional working with an Insurance BPO & am 40 years old with 18 years of cumulative experience in marketing administration and into businesss excellence.


I had been thinking about the idea of gong solo, and, i came across your details which gave me a good insight in setting up a recruitment company.

Now i am in the process of streamlining things and coming up with a blueprint.

I would be grateful if i got more inputs & guidance from you.

Cheers !

Mohan

BANGALORE

devnandha - Contributing Member
Gr8........Recruitment Business has good potential in India As such government have already started to emphasis on Infrastructure set up in India......

you may get in touch with me, on .

Wishing you all the best in your endeavour for new venture.

Regards,
DN

HI, I am very keen to start my own Execuctive Search Firm. I have 5yrs experience in IT Recruitments. I need expert guidance, Please help me for the same. Regards Neeti

Tannu Monster.Com - Contributing Member
Hi Dear,

I may help you with required resume database access for your placement firm which is a primary tool you should have with you to give your business a quick start.

you may cal me or mail me on

Take care...

Quote:
Originally Posted by marwahaniks View Post
HI,

I am very keen to start my own Execuctive Search Firm. I have 5yrs experience in IT Recruitments. I need expert guidance, Please help me for the same.

Regards

Neeti



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