Hi Pooja,
First of all I would like to wish you all the success and appreciate your enterprising skills.
Starting a new Recruiting Placement firm in today's scenario is nothing else other than "me too" concept.
Hence, the first step is going to be, to decide on what would be unique about your firm and how the services are going to be different in comparison to other consultancies in the market.
There are going to be very hard and tough days to begin with, but I am sure you would be able to achieve your goal.
Now let me answer your questions:
1. Which is the best portal for resume access - naukri, monster, timesjobs, etc
From my experience I have found Naukri to be the best portal for the very reason that it is popular among everyone who is looking for a job and they have good and decent features, which will majorly ease out in resume database management.
2. At what costs are the portals available? 6 month / Annual Subscription? I know many of you must have bargained hard. So let me know your experiences/ tricks :)
These portals have different rates for different services and features you opt to subscirbe. You can surely negotiate your terms with them matching your needs & requirements.
3. Is it advisable to go for more than one-portal access?
Yes, you can go for more than one-portal access, if you can afford for it. Before searching for candidates, one must have good contacts with the companies for vaccant positions. Once you have the contacts then it would be easier to find candidates. To begin with it is one way that you have more company contact then it becomes two way, that you need to have both candidates and client contacts.
4. I have seen many people sharing portal access? Is this genuine?
Well, I don't know much detail about portal sharing, but as far as my understanding goes, to begin with you can go for sharing a portal, but down the lane, once you get established, it is better to have your own identity.
5. What are the margins in the staffing solutions - permanent, contractual/ temporary?
The margins in staffing solutions purely depends upon the level and kind of jobs you fill. But as far as I know, it is 8 - 10% for any junior positions. But you should surely have standard contract to be signed with clients with all the specifics about the services that will be provided, rates and is there any provision for contingency; for eg: in case if the candidate place leaves the company within 3 months we would hire you another candidate without fees, but for the second candidate the contingency clause will not hold good. So have a contract in place.
6. What are the major costs involved here?
If you decide to work from home, the initial investments are required for a system, separate phone connection, internet connect, resume database, traveling cost to meet with clients and documentation.
7. What is your recommended strategy for a new entrant in this field? I mean things to watch out, managing market leads, sales targets, tie-ups etc
First of all do a generic study of all the consultants working in your local area. If you have decided to open a consultancy, I assume that you understand the basic qualification for handling recruitment for other companies. You sure got to present a unique aspect of your consultancy. Say,
1) you have certain # of years in the pharamcheutical industry. So you understand the kind of requirements and qualification required to fill various jobs in that industry.
2) You were into recruitment with certain company for a while that you have good network of candidates in particular industry.
3)Or you have developed a resume database with candidates from all part of India with varied experience; and this is not that you refer to Naukri or monster.
4)You have the ability to conduct technical interviews.
I can go on and on. But before you take the first step, it would appear as if I am trying to scare you or asking you too much at the beginning itself.
Take first step, and the rest will follow.
I know the list is long. But I would appreciate if you could take some time and answer each of them.
Hey Pooja, no, the list was not long at all, it is always better to ask lots of questions before starting a venture, so that it will help you to decide better and equip yourself with all the required resource. One more suggestion on personal trait front. Don't decide on anything beforing trying it. Go for it , put your heart and soul and I am sure with the strong determination, you can get what you want.
thanks,
pooja[/quote]
All my sincere wishes!!
Vidhya