New Delhi: Right Management, part of the global employment services firm Manpower, is planning to double its client base to 100 companies by the end of this year.
Besides, it will increase focus on the training of laid off employees for new jobs called outplacement.
“We have currently around 50 companies as our clients in India from fields including IT, banks and financial institutions, retail chains, real estate firms and so on. Our target for this year is to double the client base to at least 100,” Right Management senior vice-president (Global Solutions) Melvin Scales told the agency.
The company today announced the launch of its latest outplacement solution ‘Right Choice´, and said that it is looking at increasing its candidate base by ten times to 1,000 during this period.
“Though talent management and career management are in their infancy in the country, India has the potential to emerge as major market within the next few years. Our aim is to be biggest player in these segments,”
Scales said that the Indian corporate sector, like its counterpart in the West, is witnessing lot of downsizing and this has made career management for laid-off employees an important issue.
“We hope to increase our candidate base to at least 1,000 by the end of 2009, from the current figure of around 100,” he said.
”Our new Right Choice outplacement solution is intended for supporting individuals in transition from one job to another,“ Scales said.
The Indian talent management market is estimated to be around $150 million, while the career management market is only $5 million.
“This is like the US market two decades back. However, look at the same US market now and you can see the potential in India, with the economy again showing signs of revival. Downsizing due to cost cutting and mergers and acquisitions is also likely to play a crucial role in the Indian economy in the future,” Scales said.