People 01.02.2017 Recruitment industry growing at 21 every year what is the success formula In India the recruitment industry growing at a very fast rate. According to a report by Executive Recruiters Association and Ernst & Young the recruitment industry has grown at a growth rate of 21% with an overall value at approx. Rs. 22800 Crore. As the industry grows and becomes competitive, the traditional ways like from referrals in hiring is replaced by proper HR methods. Most of the companies outsource the hiring part from other company and this gives rise to a new industry. From a recent study, it gets to know that the recruitment industry is becoming more organized and there are companies in this sector who are into recruitment, temporary staffing, and executive search. An HR of a company who wants to hire an employee approaches these recruitment companies based on the recruitment and get the list of candidates and then shortlist them for the interview. As the recruitment industry is increasing at a higher growth rate, it will help the economy and new jobs will be created in this sector. From the last few years, the recruitment industry is growing at a cumulative rate of 21% and the view of people regarding the hiring of human resources is also changing. There are many opportunities available in this sector and one needs to give the best in class service and fulfil the need in the market by making the recruitment process easier. There are a few reasons listed below due to which the recruitment industry has been growing at 21% per year-1. Change in the Mindset-This is the first reason for this high growth. Few year back companies have there in the house HR team to get a list of candidates who are interested in a particular job then shortlist candidates among them. As this process is time-consuming, require more manpower from the company side and also when the hiring was completed they were satisfied with the candidate. Due to this, the companies shifted to the recruitment companies. This gave rise in the recruitment industry and a more organized way of hiring peoples. 2. Proper information about the candidate-As these recruitment companies work is to select candidates based on company recruitment. In this process the gather all the information about the candidate and proper check of previous background and due to this, the companies have all the information about the candidate and they are not in the dark. 3. Smooth Process for the candidatesDue to the entry of the recruitment companies in the market, the process for a candidate who is search of the job becomes smoother and transparent. A candidate who is looking for a job can approach to a recruitment agency and ask for suitable opportunities based on his/her skills and the candidate can apply to many companies through a single point. That makes the process smoother and faster for the candidates and gave rise to the recruitment industry. 4. The expectation of a recruitment companyCandidates who are looking for the job have man expectations from a recruitment agency. These companies are responsible for shaping the future of a candidate and they guide the candidate also regarding the career choice also. If you gave your resume/cv to a recruitment company then they need to provide the best suitable opportunity for the candidate and help till the last of the stage of the hiring process. 5. Difference between the recruitment companiesMost of the time when a candidate look for a job, he/she search over the internet about the best available opportunities. These opportunities are displayed on the website of the recruitment companies and how they display that information and how is it accessible to the candidate makes a difference. This results in the competition between the recruitment companies and the overall industry grow at a higher rate.