Start-up ecosystem in India is growing by leaps & bounds. While officially some over 800 startups are operating in India, there would be 1000s that are in formative stages or not made themselves visible on any formal forum. A startup, falls under an MSMSE sector (Micro Small, Medium Scale Enterprise), sheer based on the number of people it employs. A Startup thus faces the similar challenges that lakhs of MSME companies face when it comes to access to proper funding, talent, visibility and government support.
Startuppo.in, is in a way a democratic platform "Of the Startups, By the Startups and For the Startups"!! Startuppo is a platform where Startup Community can register and benefit from typical services required by the Startups, only difference being service providers are startups themselves and they extend an exclusive discount to Startuppo members.
One of the biggest challenges for the Startup community is getting the right Talent; in the shortest possible time and at the lowest possible hiring costs! Eazyhire.in is a new age ‘Startup focused’ unique hiring company that aims to reduce the costs and hassles involved in recruiting skilled people from popular job boards and commission driven consultants. Eazyhire combines the benefits offered by Job portals and Recruitment consultants for a whopping 70% less than the cost incurred with job portals and Consultants.
Eazyhire works on a unique Delivery model called "Power of 3", where a batch of 3 well assessed and validated CVs are sent to the Customer every alternate days, with a strict Feedback based on each batch mechanism in place to ensure that the subsequent batch improves in quality. This model has been proven to be so effective assuring a definite hire that Eazyhire offers "Money Back Guarantee"!
So what’s new about Eazyhire? We have combined the efforts of a bot and a human to achieve 90% relevancy, that matches the criterions mentioned in the job post.
Most start-ups face immense trouble to source the right candidates, they either post jobs with premium job boards, approach highly commission driven consultants or hire candidates through internal reference. Some of the problems faced while using these sources are listed below.
1. Job-Boards: Too many irrelevant applications to screen and shortlist. On an average a recruiter or Founder would take weeks to process the applications they would get and at the end of it discover majority to be irrelevant and not in line with the mentioned requirements.
2. Recruitment Consultants: They usually are commission driven and give priority to requirements that would fetch more money. The cost attached with using such services start at 8.33% to 16-18% of the annual CTC per Hire!! Imagine the cost of scaling your team from a garage to an office.
3. Internal Reference: Ideally this is the most trusted way of hiring employees; however the turnaround time could be anything between couple of days to even months. You really cannot rely on references to scale a company.
EazyHire provides a cost effective, Fixed-Fee recruitment solution with guaranteed results. The focus is on quality and not quantity since all clients hiring at various designations are literally paying the same amount.
One can really make out by visiting the website that Eazyhire aims at making recruitment a simple and wonderful experience by its process driven, highly efficient model.
So!! Calling all start-ups / SME’s or for that matter business of any size to try this really cool service offering, that makes recruitment eazy and cost effective.
Unfortunately hiring continues to be a business of CVs whether it is for hiring full-time, part-time, one-time, contractor, temp staff, flexi-staff, freelancer or retainer. Getting a ‘hirable’ CV continues to be a big pain. It’s not that there are no enough skilled CVs out there, but the process of finding them in a Quicker, Convenient and Credible way is painful.
But why is there so much of pain? There are established mammoth Jobsites; There are Social Networks; Then there are numerous free jobsites (national and international) springing-up almost every day. But why none of these are yielding results in terms of quality CVs, faster CVs and within hiring budgets CVs?
The cycle of Pain
Searching large 'database oriented' sites result into hundreds of search results...requiring assessment…paid posting on such sites result into tom, dick and harry responding (with few toms and harrys!)…requiring assessment…free jobsites, where freedom is in abundance; the data entry guy does not shy from responding to a PhP developer requirement…requiring assessment…you enter Social networks and by the time you come out, you wonder what you did there apart from sending some friendly requests!…finally you give the job requirement to Consultants and you get bombarded with the same CVs…"it’s a duplicate" you yell!…because the Consultant does exactly what you had started with.
Solving the Pain, philosophically!
After observing the behavior and needs of its 5,000+ listed Employers, Oncontract.com, found a clear trend of preference towards pre-assessed CVs. Employers want someone to first qualify the CVs well before they get them. Serious Employers prefer less but quality CVs rather than large number of CVs that require endless short-listing by elimination. In such case, the Employer is more than willing to give exclusivity and pay upfront.
Oncontract’s ‘Premium Pre-Assessed (PPA)’ product is an online subscription based product that provides only 3 assessed CVs, everyday. This makes the short-listing process for Employers very easy and effective. Why 3? Things presented in sets of three are most easy to ‘consume, comprehend and action’. There is huge research behind the significance of 3 in almost everything (we won’t go into it here). I personally remember telling my recruiters ‘please send me just 3 relevant CVs guys’, when I wanted some serious hiring done. In the PPA product, the online platform first runs its ‘AssessEngine’ technology on the sourced CVs; matching basic parameters of experience, core skills, location, bill rate etc. Subsequent to this, the CVs go through a thorough assessment by a panel of in-house experts to ensure overall match. With one getting 3 assessed CVs everyday for 7 days, there is high surety of hiring at least one, if not more (at no additional cost though)!
No Pain, Only Gain
Smart Recruiters of today want the flexibility of a robust crowdsourcing platform to post their requirements. Many further prefer that their posts get auto broadcasted across Social Networks like LinkedIn, Facebook, Twitter, Google+, Pinterest and reputed Job aggregator sites to increase brand visibility. Finally however, they would love to have only relevant profiles being sent to them that are ideally validated by an expert. Trust me, no recruiter wants to spend heavy on consulting fees given a choice; because it does not show great on their appraisal sheet!
Premium Pre-assessed product of Oncontract.com is a true amalgamation of crowdsourcing technology and human expertise; all at a subscription price that will help you save over 70% compared to any other usual options!
After all, human resource does need human intervention. Give it a try, it's awesome!
Launched about 2 years ago, Oncontract.com is a Web 2.0 based Crowdsourcing platform for finding skilled people on Full-time, Part-time and One-time basis. Currently 5,000+ Employers are registered members of Oncontract with over 80,000 Professionals listed. Till date Oncontract.com has seen postings of over Rs.150 Crores through over 5,000 contract job postings. Oncontract is run by a team of industry professionals and invested by some of the best names in the Indian Internet industry.
To view the photograph, please click on the link given below:
Power of 3 CVs
Ronnie Screwvala promoted UNILAZER and Vishal Gondal promoted FACT has invested in OnContract.com, for an undisclosed sum.
OnContract.com ( earlier called as StaffOnContract.com) is a contract staffing platform that addresses the growing challenges of getting quality contract staff by providing an organized internet based marketplace to get people on just-in-time and just-for-time basis.
The site was commercially launched in April 2011, has over 5500 registered members (companies) and over 2,000 individuals (willing to work on contract basis). OnContract.com is industry agnostic and categorizes itself based on functional roles; e.g Marketing, Sales, HR, Technology, Engineering, Accounting, Admin etc. Some of the leading industry players like IL&FS, Biocon, Suzlon, Larsen & Tubro Infotech, DTDC, Oberoi Hotels, Kraft Foods, HCL and many others are members of the platform.
OnContract provides access to over 400 categories of skills across industries to help businesses implement their variable staffing strategies effectively. The key business model is where Customers (companies) 'Give Contracts' and Contractors (individuals) 'Win Contracts'. Currently the platform enables B2B and B2C collaboration with a plan to address C2B and C2C models in the near future. This funding is expected to be largely used for technology up gradation.
Joule Consulting Pvt Ltd which operates the employment marketplace, OnContract.com (previously known as StaffOnContract.com), has raised an undisclosed amount in a funding from Ronnie Screwvala's Unilazer Ventures and Vishal Gondal's FACT, reports Pluggd.in.
This funding round follows an angel round of Rs 0.5 crore from Vishal Gondal in March 2012 and the company plans to use the funds raised to improve its technology platform.
Founded in April 2011, OnContract is a hiring marketplace which acts as platform between individual contractors & staffing companies and organizations looking for contract employees, by offering them across several industry sectors, functional roles, skillsets and experience levels. The platform also allows contractors to charge for their services on hourly, daily or monthly basis, based on the complexity and the type of contract.
The company claims to have more than 7,500 contractors which include contract companies and individual contractors and claims to have published more than 8,000 contracts till date. According to the company website, some of its clients include Oberoi Hotels, Kraft foods, HCL, L&T Infotech, Biocon, DTDC, Getit among others.
Pricing: The platform currently works on a freemium model. Individual contractors can access the platform and win contracts for free while staffing firms are offered two subscription packages-Free and Premium subscription worth Rs 6,000 per year. The free subscription allows firms to only view the existing contracts on the platform, and the premium subscription allows firms to win up to 60 contracts, following which it can pay an additional Rs 1,000 for every 10 contracts.
Similarly, the platform allows firms to search contractors for free, but it will have opt for a premium subscription (worth Rs 6000) to create contracts. Firms can create up to 30 contracts through this plan, following which they can pay an additional Rs 2000 for every 10 contract listings.
StaffOnContract.com was judged amongst the Top 5 innovative companies in India by ET NOW (an Economic Times Business TV Channel) on March 24th, 2012.
This ranking was out of over 20 Startups that were evaluated by Super Angel team of investors. This finale show was done live at Bombay Stock Exchange Building amidst 5 Leading Investor panelists.
The recording of the show will be telecasted on April 7th at 6 PM and repeated on 8th at 5 PM .
One-year-old employment portal StaffOnContract.com, run by Joule Consulting Pvt Ltd, has raised angel funding of Rs 50 lakh from Indiagames founder and CEO Vishal Gondal. Post-funding, Gondal will join the board of advisors.."
Started in January 2011, the portal brings together employers and staffing companies and help hire individuals on a contract-basis. "We are a pure play marketplace; we term the employers as buyers, the staffing companies as sellers and bring them on one podium," explained Chetan Indap, founder & CEO of StaffOnContract.com, while talking to Techcircle.in.
According to Indap, this angel round had been raised as Gondal was keen to be on the company’s board. The firm would be raising another $1.5 million soon in a series A round of funding.
The company has around 5,000 staffing companies registered as of now, as well as 2,000 individuals and 100 employers. Also, there is a good traction from tier II cities like Ahmedabad, Baroda and Coimbatore.
Essentially a B2B portal, StaffOnContract.com also offers registration facility for individuals looking for work on contract basis. But currently, the promoters are finding the B2B model more lucrative as well as scalable. "We are a small company with limited funds. Plus, the B2B marketplace model is highly unorganised in India and thus places a very large opportunity for us," added Indap. With the angel funding, the company would look to make its technology platform more robust and sophisticated, and would focus more on marketing, he added.
The funding had been received from Vishal Gondal, who had founded Indiagames.com in January 1999. It became a gaming subsidiary of the UTV Group after UTV acquired a majority stake in the company. Gondal also figures in VCCircle’s list of India’s Most Active Angel Investors. He also runs Sweat & Blood Venture Group, a seed/early-stage venture capital fund which he founded in January 2007. Last October, Gondal sold his remaining stake in Indiagames although he remains the CEO of the firm.
Chetan Indap, founder & CEO, StaffonContract believes that the gaps are merely engineered by certain parties and do not exist in reality. He talks about the first reason for this illusion, There is no serious gap in experienced professionals, but just an illusion created by the current 'cat and mouse' game played by these experienced professionals. Due to the high demand in the market and short supply of experienced people, these professionals are holding multiple offers in hand and trying to use these to get further improved offers, upping the compensation levels, from the other. He goes on to enunciate the second reason, There is a significant mindset shift with a certain section of experienced professionals. These are professionals who are specialists in their area of work. They practice good work ethics and with an entrepreneurial bent of mind. These professionals are opting to operate on a contract basis and work on their terms. They want freedom to choose their work, time duration and price. In my opinion, non-availability of such creed of experienced in the job market is probably also adding to the perceived gap.
Deepak Kaistha, director, Planman Consulting emphasises the importance of correct education. It is no big deal to get a good packaged job immediately after school or graduation, be it in a BPO or MNC. It is the competition and the need of the hour that instigates each individual to pull up their socks and start early with their work life. However, this is a key reason why we lack professionals in workplaces. People think that getting their hands burnt by working will make them more efficient and at a cutting edge as compared to the people backed by professional degrees but this is not true. What we gain from education and knowledge cannot be taught at work but what we learn during our education can be implemented in our professional career. The initial years of knowledge is always backed by grooming that better prepares one for the corporate world.
Right talent has to be identified and then nurtured for the long term benefit of corporates. This is the main objective of Human Resource department of every corporate. Professionals are taken in by companies, but their skills have to adjust to the limited corporate foray and company policies, says Kamal Meattle, CEO Paharpur Business Centre & Software Technology Incubator Park and Promoter of GreenSpaces. These gaps can be filled by striking the right chord at nascent stages. Educational institutions should hone and develop the strengths of the students in right fields. Once, students become professionals, they should try to keep their interest intact in corporate by patiently focusing on their ultimate goals of success and making efforts for constant learning, he explains.
Thus, there emerge twin opportunities for filling the gap at the educational stage and at the training stage once the individual has joined an organisation.
Niladari Sarkar, manager Talent Acquisition believes that hiring freshers is the key to filling in gaps. We believe, the best way to overcome crunch in the talent pool, organisations should hire more freshers and trained them in different technology. Being new the industry, Freshers are extremely flexible and are eager to learn more, hence they can be groomed as per the organisation need and requirements. Within a period of six to eight months and proper training, a fresher normally picks up the technology and can be deployed to the project. They can be used as shadow resources which will not only give them an exposure to the live project environment, but will also fulfill the resource gap to a large extent, he suggests.
I believe this gap can be worked upon by making sure that we do not hire under qualified professionals just to fill the place, says Kaistha. Thus, organisations can fill in the gaps in their requirement by training freshers, consolidating the skills of their existing employees and hiring the right individual for the right job.
The demise of permanent jobs?
Any middle-aged working Indian would agree that a permanent job is the best form of employment. People in India have grown up seeing their parents drool over permanent jobs. Such jobs offer everything one needs - regular salary, security, social benefits and sometimes, even perks like paid holidays. But are today's professionals really drawn to these aspects of a job, or do they want to experience more in a less amount of time?
"The idea of being permanently employed at one place does not appeal to me. I prefer short term stints at various workplaces, or working on a project-to-project basis. As far as job security is concerned, if one is confident about his/her skill set and can continue to learn from every project or contract, there will always be enough scope for work. Secondly, preference for permanent versus contract jobs also depends on your personality. If you cannot handle uncertainty, then 'lifelong' employment would be ideal," says a Delhi-based media professional.
In a country like India, where permanent jobs are considered most stable and secure, how will contract staffing shape India's work culture? Will it be a smooth transition? Chetan Indap, founder and CEO, StaffonContract explains, "Exposure to western work-styles and technology advancements are going to break these mindsets sooner than later. Youngsters today are looking at entrepreneurship in a big way. It will not be long before contracting, which in one form is entrepreneurship, will become a way to life. t is my personal view that a decade from now, almost everyone will work as an independent contractor, providing specialized services to the other, and breed a highly productive, less wasteful work culture in India." What are the impediments to contract staffing in India? "The biggest impediment is the archaic Indian labor/contracting laws. While they have been instituted with true consumer interest in mind, the formulation of the clauses and policies are not well drafted and left to interpretations. Because of this, in-spite of its benefits, a number of companies are wary of adopting it because of unclear government stand on the issue," adds Indap.
Reasons for boom
There are many reasons contributing to the boom of contract staffing in India. The corporate world is changing gears and shifting towards contract staffing, more since the recession. "As the economy's recovery has begun, the contract staffing industry too, has seen a boom. Recession gave a chance to this industry to perform since a lot of employers were seen cost cutting and hiring temporary employees for their projects. Contract staffing seems to be doing well for people with the desired skill set and as per some company's requirement," says a spokesperson from HCL Technologies. Is this in line with the trends in developed economies? "In the western countries, contracting grew as a preferred model for hiring because companies wanted to be cautious and not to do heavy hiring, just in case the economy did not remain robust. However in India, the story was reverse. Because the job market had become so hot and companies were not able to hire in a predictable manner, they started to turn to contracting." There are many reasons in addition to the post recession upturn that contributed to contract staffing, says Indap. He points out some of these -
- Pyramid Re-Balancing: Over a period of time companies have done ad-hoc hiring based on the immediate needs. This has caused the pyramid structure of levels to be not in line with the internal policies.
- Specialized Knowledge: Companies get a variety of work and sometimes very niche and specialized. If companies hire such skills, then after the project is completed, there is a risk of the person remaining idle for a long time becoming a cost drain on the company.
- Significant cost savings: CXOs are now realisingthat contracting can actually help them save costs and enhance margins. It leads to a 22% cost saving upfront. Contracting is now a strategic staffing model.
Mutual employer-employee win wins
Hiring on contract is not a new trend, and has been benefitting employees and corporate for decades. Sumedha Nashikkar, head, HR, KPIT Cummins Infosystems, says, "For the past more than a decade, it has been used to recruit professionals for short-term projects and fill in temporary vacancies arising out of conditions like maternity leave/health related conditions of permanent staff, or when a permanent member is on a sabbatical etc. In such cases, for the employer, there is a temporary vacancy. There is an opportunity to create on-demand talent pool." Even though the lure of permanent jobs is not completely over, hiring on contract provides many opportunities to professional. "It helps them gain experience before they take entrepreneurial routes, get experience while still undergoing education. It generates opportunities for them to work with different organisations within relatively a short time span. This is a tried and tested format which well balances opportunities and expectations," says Nashikkar. "The rapidly growing trend of contract staffing has given some companies a chance to reduce their budgets and still get the project completed within the given time frame. As competition forces businesses to continually become leaner and more flexible, the importance of focusing on core business has driven the industry to turn to temping as the effective way of attracting talent while outsourcing burdensome, non-core administrative functions," adds HCL spokesperson.
Best HR strategies
But what is the secret to ensuring that the corporate heads can get work done from their on-demand staff and ensure high standards of performance? "The duration of the contract as well as performance expectations from the contract hire are communicated and agreed upon at the start of the contract, thereby addressing apprehensions if any. Companies should have uniform employee engagement policies irrespective of employee status. They should also ensure frequent feedback on performance, encourage recommendations for team awards and preference for permanent positions based on performance and eligibility," says Nashikkar.
With 'staff on contract' model, the India Inc. is witnessing a shift from permanent hiring. With apparent cost and operational benefits, the employers are considering contract hiring a strategic alternative
NEW DELHI, INDIA: With apparent cost and operational benefits, the employers are considering contract hiring a strategic alternative. With 'staff on contract' model, the India Inc. is witnessing a shift from permanent hirin
Though there is apparently no organized study specific to IT contracting is available, NASSCOM said that 1 million contacts will be engaged that employ 5 million individuals by 2015.
Telecom is one of the key sectors for its adoption, driven by phenomenal growth in cellphone sites and services. The contract staffing within IT sector in the country is close to 15 per cent today, and is expected to grow at exponential rate
In an interaction with CIOL, Chetan Indap, founder and CEO of StaffonContract.com, which brings together demand-side (IT firms) and supply-side (IT sub-contracting firms) to find and deploy IT contract staff, said that contracting was as low as 3 per cent some time back, which is picking up and is expected to grow drastically.
By 2015, contracting would be considered a strategic alternative staffing model and is expected to see 40 per cent penetration within corporate sector in the country, he believes.
Employers see cost and operational benefits
Drawing a comparison between contract staff and permanent staff, Indap said that there is a 22 per cent cost differential. "The end-user company can benefit up to 40 per cent additional margin realization and save various indirect costs," he said.
Indap said that the adoption of the contract model in India is driven by the philosophy of western companies - 'hire, if not performed fire'. He said there are clear benefits in engaging staff on contract. They are hired only because of specific specialization and may need to be trained and are purely focused on delivering the defined tasks.
Contract Labor Law is archaic
There are industry bodies that are trying to organize themselves to lobby with the government and appeal for changes in Contract Labor Law, which is archaic in its current state.
According to Indap there are several challenges and they are working to change perceptions of the industry that contractors are specialists and help companies achieve higher productivity, lowering their total cost of ownership.
Through third-party employment, there have been some instances where employees get delayed salaries and have no coverage on provident funds as well as medical insurance.
So, it is time to think of improving the laws for the benefits of the contract employees.
Post recession blues, firms are not only back at the job of hiring full time workers but are also considering a larger role for highly skilled contract workers who are engaged on an as-needed basis
Recession has encouraged employers to re-focus on their core business, realising that a smaller core workforce that was well trained and technologically astute was more effective and nimble than their pre-recession staff.
In 2010, contract placements are found in nearly every profession in verticals like manufacturing, IT, services, and infrastructure and hospitality sectors.
Why is there a surge in contract jobs and only a handful of direct-hire opportunities? So, will contracting growth continue? Should companies consider contracting? Let us learn more about the same and what role it has come to play in the retail sector.
Competing in the market
Companies have increasingly started hiring temporary staff in order to avoid risk and maintain sustainability of projects. Experts estimate temp staffing industry as USD 140 billion with India showing growth and expect to hire 5-7 % of temporary staff in the near future.
"Contract staffing allows quick ramp-up (expand) and ramp-down (contract) of the workforce within short notices. Thus by Contracting can prove to be a smart strategy by companies to effectively compete in the market by offering products/services at optimal cost points; enhanced quality of products and overall increased customer experience," opines Chetan Indap, Founder & CEO, StaffonContract.com.
Temp staffing also provides flexibility of employment, ease of recruitment and replacements throughout the companies' operations.
"This trend is rolling because the organisations get an opportunity to concentrate on core areas while the non-core areas are takencare by other experts resulting into the long-term cost benefits and a responsible employer image. The companies also get more work done from temporary workers and also escape for paying those perks and incentives.
Temping also saves training costs by leasing companies direct skilled and experienced workers. Moreover, non-performing employees can be dealt with much simplicity and legal responsibility," adds Deepak Kaistha, Director, Planman Consulting.
Where retail is headed
Retail, although in the boom phase, is yet to see significant profits to its shareholders. Apart from the high cost of real-estate, Retailers have major problem around retaining workforce. Indap says, "Today, retail probably has the highest attrition rates of over 40 percent, resulting in high recruitment and training costs. A few retailers have started adopting contract staffing as means for converting their fixed workforce costs to variable. With contracting, retailers can achieve 'just-in-time' hiring, enabling them to control the impact of attrition on cost and quality of service." "My vision for Retail segment is to implement "Employee as a Service (EaaS)" model similar to the Cloud Computing model," he further adds.
You may want to hire a staff on temporary basis thus saving on to your operating cost but again an extra employee may generate enough new sales to more than compensate the salary of the employee. The additional help could give you a chance to produce more products or serve more customers efficiently. "If the added business does not outweigh the minimum salary that you would have to pay, then, consider other alternatives to hiring a permanent employee. There are many staffing options available and each has some pros and cons," avers Kaistha.
Temp staffing has become a budding trend that is spreading across industries like FMCG, Telecom, IT, Engineering, Logistics, Retail and BFSI. "With India having a young population, a number of employees in the age group of 20-28, could find their first jobs through temping," comments Kaistha.
However, it is noted that upward trending of contract staffing is highest in the IT/ITES industry vertical because this vertical is largely services (manpower) driven. Indap says, "Till about last year, contracting was about 3-7 percent of the total headcount of an IT company. This year it is on an 8-12 percent and in the next 3 to 5 years, it would be close to 40 percent." Internationally, end-user companies tend to contract upwards of 60 percent of their headcount through contracting. "Retail industry is the next vertical poised to adopt contracting aggressively. Retail industry is also manpower intensive and they are realising the fact that contracting is the best solution to control workforce costs, attrition and quality," he further adds.
It is noticed that there is a gradual shift in the mindset of the employees who are realising the benefit of contracting because they get the freedom to choose the type of work, duration of engagement and desired compensation, which at most times are better than being employed.
"With contracting, there is a huge opportunity to save/manage their personal taxes and getting maximum money in-hand. Some of them prefer to work on part-time basis where it could be 3 days a week or 10 hours a week or 10 days a month etc. This way they have an opportunity to pursue their hobbies or take up another assignment and achieve a good 'work-life' balance," says Indap.
Contracting can enable a person to work with different companies on different tasks, enhancing their capability skill-set and have good visibility of the market and demand. Sometimes contracting also presents an opportunity to join full-time with a company of choice, which they otherwise may not have got. "The obvious benefit of permanent employment is job security and stability, although permanent employees don't have the kind of guarantees they once enjoyed. Another important consideration is the benefits the employer provides beyond pay. Full-time employees usually qualify for health insurance and vision coverage and company retirement plans," comments Kaistha.
Gaining more steam?
Although 'The Great Recession' has supposedly ended and the economy is recovering, contract staffing has surged since 2006 and the trend indicates it will continue in the coming years. Kaistha avers, "With the wide acceptance of temp recruiting across several industries, the penetration level is expected to go up to 1.5-2% in the coming 5 years."
Till recent years, contracting was looked-down upon by the society giving it a view of non-competence. India had grown up with the traditional thinking of 'get good grades, get a good job (preferably a Govt. job) and retire from the same job. This is no longer true. "Today, most IIM graduates are choosing to become entrepreneurs rather than take fat salaried job offer. Today, being a sound recordist or tarot reader is also a plausible career option. We are moving towards specialisation rather than generalization. Hence my view is that a decade from now, there will be no employees; only entrepreneurs; offering each other specialist service on contract basis," concludes Indap.