Corporate Learnings

HRM OUTSOURCING
As we know that one of the biggest impacts to the HR profession is HR outsourcing business… it is also one of the biggest areas of opportunity.
Outsourcing of HR function is to be the part of an integrated business strategy.
The key factor for the senior management team and HR professionals to identify the core HR processes, and the non-core processes that can be outsourced. It is increasingly being recognized that human resources are a source of competitive advantage for organizations, particularly in the information and knowledge sectors.
Various stakeholders in the organization such as the line managers, CEOs and employees have urged the HR department to play the role of a strategic partner. The core aspects of HR function related to transformation consist of attracting and retaining talent, building people capability in the organization, developing a leadership pipeline and creating a learning organization.
HR Outsourcing is the outsourcing of one or more HR processes to a third party provider. Total HR Outsourcing (HR BPO) is the outsourcing of a majority of HR processes.

Present scenario of HRM outsourcing
HR Outsourcing today is a $32.7B business and growing at a rate of more than 25% per year… and projected to grow at that rate through 2008. It is a faster growing business than HR Consulting.

YES, HR- outsourcing is accepting in INDIA in some of the companies that I have mentioned below:
The HR outsourcing business opportunity is large and India is likely to garner a larger and larger piece of this pie in the future. India, with its intrinsic advantages such as low cost, ready pool of English speaking manpower and geographic positioning, is emerging as a viable destination for HR outsourcing companies to set up their businesses.
But still here people are not very clear about what exactly is manpower outsourcing all about, and issues like quality and trust needs to be addressed properly. Experts say the basic reasons hampering the growth of HR outsourcing in India are confidentiality and cost factors. Moreover, the fear of losing jobs, losing control over confidential data, ethics and quality of outsourcing vendors, security breaches and overall confidence in the vendors deters many organizations. The biggest problem - and this is why the HR outsourcing industry in India is on the back foot - is the government and the industry's failure to tackle issues like data security and data privacy. This is where Indian HR outsourcing companies face a major handicap. The Indian government is still grappling with drafting a data protection law designed to quell growing privacy concerns from their offshore clients.

Companies under HR-Outsourcing:

· XENSA
· Jaisons Technologies
· Pinnac Infotech Services
· SwarajComm Technologies Pvt Ltd
QBmedia