Opening a placement agency is not an easy task. You need to prepare yourself thoroughly. Else you may bear a heavy loss. Below these are some factors, which you can’t ignore before starting a placement agency business Indeed.

*.Need to scrutinize the Market Condition

.

Today the market is very competitive. So it’s quite hard to create a specific zone for your organization. First, you need to understand the market condition very well. You need to scrutinize thoroughly the financial condition of the Location, where you want to start your business. Today everything is globalizing. On this juncture, you will not only fight with the local market but also with the global market.

Before starting "Placement Business", make sure that market condition must be favorable. I think everybody can’t forget the market crash on 2008. Market was highly impacted and collapsed, all premier organization did cost cutting their exiting employee and most of company in Indian and U.S.A stopped hiring new employee. Placement agency couldn’t able to do business, because company stopped hiring of new employee. Without doing any business, it is very difficult to run a business. Chronologically you will face too many financial issues to stick with your business and run your company.

So, it is very essential to check out the financial condition of the market thoroughly. Then your second step would be checking the newspaper, how many companies have given advertisement of their new opening and manpower outsourcing business. Simultaneously check on internet and local employment newspaper.

Licensing Your Organization

.

After scrutinizing everything thoroughly, it’s time to licensing your organization. First hire a good office in a commercial area, where your business can be easily point out. Then register your office according your country labor laws. Then Issue a Pan Card and service Tax No. on your company name. Simultaneously open a current A/C no. on your company name from any of our nearest bank, where you can do your all business transaction. You can also open PF account and ECIS according to your country ministry rules and regulation.

Taking Contract from Company

:

Before visiting any company for contract, first you have to decide yourself that, on which segments you want to work. Here your prior experience will help you a lot. If you have good knowledge on information technology then you can start with leading IT companies. If you have good knowledge on insurance and banking domain then you can start work with all finance and insurance related organization. So, try to choose domain according to your prior experience. Then check on job portal or newspaper, which company has given a number of jobs opening which is relevance to your domain. First try to communicate with the company through mail or communicate with the “Human Resource “department over telephone. You can get the contact number from their company website. If you are drafting e-mail to company, then try to draft it systematically. Your e-mail should posses your company introduction and your company presentation. If you are talking over telephone, then talk with high enthusiasm and sophisticate. Once you get an appointment, you can visit there with your company presentation and may sign up a contract for 1 year or may be more than that.

Employee Set Up

:-

On this part your business will depend a lot indeed. Because employee’s are the back bone of the company. Hard working and serious employee’s are cream of the company indeed. So you need to hire highly educated and sophisticated employee for your company. Before deploying anyone, check whether he has any relevant prior experience. Always try to hire profession HR guys from premier organization who has relevant experience. Try to hire different HR guys for different domains. Suppose you are going to deal with Insurance, Banking and finance domains, and then try to set different HR team for each domain. It will create boom in your business and also make your placement business go ahead in competitive market.

Client feedback

:-

This part is quite essential for all business. If you can’t satisfy your clients, then you can’t stick in the HR Business for a prolonged period. Every client gives marking to their vendors according to their business. Vendors who are on top ranking, generally they don’t face any difficulties to get opening or any new business opportunity from their clients. So you have to ensure that, your clients are marking you on which rank. You have to check clients feed back on each and every month. This thing will help you a lot, to find your employee draw back. According you can resolve this problem.

If you follow all the above tips seriously, you can enhance your placement business and stick in the competitive market forever.

Here below is a service level agreement with company which a placement should aware of before starting a placement agency business.

1. Our recruitment consulting service charges will be @ 8.33% of the candidate’s CTC.CTC excludes all the milestone-bonus, Incentives.
2. The service will be applicable according to government law.
3. We will not be responsible for reimbursement of cost of rail/air fare for the candidate/s called for interviews.
4. All outstanding bills to be cleared-off in full with in 30 days, from the Candidate’s DATE OF JOINING. We would give replacement if candidate leaves the firm within 3 months from the Date of Joining.
5. We shall not be liable for any loss or damage to property, loss of profits or any other loss or for injury to persons arising directly or indirectly from any act or omission of any candidate/s introduced by us.

Thanking You

Warms and regards from Pravin

Human Resource