Getting the right talent for the right job has been a challenge for many HR professionals. Not just it requires great tenacity to source them from the right network but also involves a lot of hard-core negotiations to retain them. According to the report by Indian Staffing Federation (ISF), the Indian IT flexi staffing industry was worth $3.04 billion in 2016-2017 and is expected to witness significant growth till 2021 across top states and sectors of the country.
In order to simplify this, Karanth A, Ex Managing Director at Kelly Services India and Malaysia along with Anil Kumar ET Ex Managing Director of RGF India, have announced their new venture. Xpheno, a specialist staffing company, will address the growing demand for skilled talent in industries like IT, Life Sciences, Consumer Retail and Engineering Sectors in India. Xpheno will be a one-stop shop for companies who need professionals on the project as well as direct hires. Xpheno will also focus on sourcing for the lucrative US Staffing business.
The five largest staffing companies in India, based on 2015 revenue include TeamLease with a revenue of Rs 1,986.9 crore, Quess Rs 1,959.4 crore, Adecco Rs 1,500 crore, Randstad Rs 1,348.5 crore and Manpower Group Rs 799.1 crore.
“In an uncertain world, organizations need flexibility and expertise in staffing skilled talent. Xpheno will be the strategic partner for organizations to manage this conundrum. Our global eco-system expertise, access to talent and technology know-how will serve as key differentiators in the market,’’ said Kamal Karanth, Co-Founder, Xpheno.
Headquartered in Bangalore and with offices in Chennai, Gurgaon, Mumbai, Hyderabad, the founders have already brought on board, a clutch of senior leaders from leading Staffing Companies, to grow the IT, Life Sciences and engineering verticals of the business.
With a collective experience of 30 years, Kamal and Anil plan to raise Series A Funding in the next 3-6 months. The funds will be used for expansion across all metros and to build a technology platform that can serve talent and client organizations efficiently.
“We believe that successful organizations are created with exceptional talent and great talent is difficult to find on one’s own. The decrease in the tenure of senior executives is compelling organizations to create a continuous talent pipeline. Companies seek partners with sector expertise whilst recruiting leadership talent, in a bid to minimize the cost of wrong hires. The Xpheno team already has the requisite experience of onboarding senior talent over the last few decades, which gives us the edge,” said Anil Kumar ET, Co-Founder, Xpheno.
Currently, Xpheno has over 30 clients and plans to add another 200 to its portfolio in the next 6 months.