Why You Need a BFSI Recruitment Consultant ?

Hiring new employees is an extremely time consuming task and these cost increases when you make a bad hire. Hiring a BFSI recruitment consultants in India will help you save time and money in the long run. These agencies can increase the chances of getting the right employee for your company. Here are a few reasons why you need placement consultants.

Decreases turnover costs
An extremely poor performing employee consumes more than 17 percent of the managers time, which is equivalent to one wasted day per week. And, if you end up replacing the non-performing employee, you will end up spending more money on the training and recruitment of the new employees. The BFSI recruitment consultants in India will help you reduce the turnover cost by weeding out ineligible candidates.

Save time by reducing the hiring process
The best placement consultants have a broad network and keeps a resume of thousands of skilled employees. On seeing your need, these agencies can provide candidates who are closer to your requirement. You will save time of wading through a series of unqualified candidates. Furthermore, great and deserving employees may never come across your job posting. With these agencies you can focus more on your core responsibilities.

Reduces training and hiring cost
Most of the BFSI recruitment consultants in India Perform a pre-evaluation and provides candidates with access to a variety of resources and training opportunities. Training is provided to hone their skills and make the candidates suitable for your job profile. 

BFSI Sector to Outsource Recruitment

Massive requirements at the junior and mid-level in the BFSI sector will lead to rise in number of BFSI recruitment consultants in India in the coming years. Furthermore, according to a survey more than 70% of the employers are likely to outsource their hiring to different placement consultants in the next five years.

Today, these consultants are offering services to both national and international companies and helping employees land in a dream job in the banking sector. Even at the international level, many companies prefer BFSI recruitment consultants in India because of low cost competitive services and pricing.

Furthermore, according to a report by recruitment specialist firm Michael Page, the Indian BFSI sector is finding it difficult to restore and retain competitive employees. This will further increase the demand of skilled manpower in the BFSI sector, which will increase the work of many placement consultants.

Today, finance professionals with less than 10 years of work experience are in high demand as these jobs require a strong background in mathematics, statistics and finance. However, there is a shortage of employees in niche roles such as taxation and compliance.

With these gaps and budding requirement, most organizations are expected to outsource their recruitment to different BFSI recruitment consultants in India. The recruitment agencies reduce the time of hiring and let the HR managers focus on their core responsibilities.

Given the emerging economy of India, there is likely to be a big churn in the BFSI sector. The recruitment agencies are likely to boom in the coming years.