According to a report by the Executive Recruiters Association, ERA, in association with global consulting firm Ernst & Young (E&Y), the local recruitment and human resource (HR) services industry will post a compounded annual growth rate (CAGR) of almost 20 percent in the next five years. The sectoral size will race to the Rs.55,700 crore milestone; the 'Human Resource Industry Solutions Report 2012' indicates a maturing industry which is moving from being fragmented to getting more organized. As of now the industry size is pegged at Rs. 22,800 crore, dominated by talent acquisition in the form of recruitment, temporary staffing and executive search.
The report also states that the industry has been growing at a CAGR of 21% for the last four years — from 2008 to 2011. The report also highlighted the fact that more and more companies are pouring into the temporary staff model due to growing business complexity and talent challenges.