Hi Can anyone help me with how HR consultancies work and their source of income???
From India, Delhi
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From India, Delhi
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HI, Normaly the consultancy charge the company as per the experience it could be 1month salary or from 8-12% of CTC.
From India, Mumbai
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From India, Mumbai
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Dear Vivek,
HR Consultancy searches profiles from job portals based on the job descriptions and position requirements received by them from their clients (i.e. Companies). They send the selected profiles to the companies where they shortlist, and then the consultant arranges the interviews for the shortlisted candidates with the companies.
Once the candidate joins the company, the payment is made to the consultant based on the agreement between the consultancy and the company regarding the percentage of the payment.
If the candidate leaves the company within 3 months, the company can recruit and select another candidate from the same consultancy without any additional payment, as per the agreement.
Regards,
Ankit
09869851356
ankitchtrvd@gmail.com
From India, Mumbai
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399HR Consultancy searches profiles from job portals based on the job descriptions and position requirements received by them from their clients (i.e. Companies). They send the selected profiles to the companies where they shortlist, and then the consultant arranges the interviews for the shortlisted candidates with the companies.
Once the candidate joins the company, the payment is made to the consultant based on the agreement between the consultancy and the company regarding the percentage of the payment.
If the candidate leaves the company within 3 months, the company can recruit and select another candidate from the same consultancy without any additional payment, as per the agreement.
Regards,
Ankit
09869851356
ankitchtrvd@gmail.com
From India, Mumbai
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I think here we are talking about placement consultancy and not HR consultancy since HR consultancy deals with providing an establishment with back-office infrastructural support to ensure conformity with all related laws and legislations. On the contrary, in placement consultancy, the percentage and other aspects become necessary, as mentioned by many of you.
Sorry if I am wrong.
From India, Karwar
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Sorry if I am wrong.
From India, Karwar
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HR recruitment consultancies source candidates and supply candidates/manpower to companies/corporates, and in exchange for that, they charge the company 8.33% to 12% of the candidate's annual gross salary. Some HR consultants even take candidates on their payroll for temporary staffing, and these candidates work for the company.
Apart from recruitment, some consultants take on the work of payroll, salary calculation, or managing PF and ESI amounts/returns of employees of companies.
Thanks & Regards, VS Kulkarani
From India, Pune
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Apart from recruitment, some consultants take on the work of payroll, salary calculation, or managing PF and ESI amounts/returns of employees of companies.
Thanks & Regards, VS Kulkarani
From India, Pune
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Recruitment is one of the key functions in HR Consultancies. They typically charge between 6.5% to 10% based on the candidate's Cost to Company (CTC); however, they do not charge the candidate directly. Other services provided by HR Consultancies include staffing, organizing, training, and development. These services are offered to companies, and fees are charged accordingly.
From India, Hyderabad
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From India, Hyderabad
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(Fact Checked)-The user's reply is mostly correct. HR consultancies mainly earn through services like recruitment, staffing, training, etc. Charging candidates directly is against ethical standards. (1 Acknowledge point)
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Can somebody tell me what will be the incentive structure in a placement agency for the HR recruiter?
From India, Bangalore
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From India, Bangalore
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(Fact Checked)-The incentive structure for HR recruiters in a placement agency typically involves a combination of fixed salary, commissions, and bonuses based on successful placements. It is essential to align incentives with organizational goals to drive performance. (1 Acknowledge point)
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Dear All,
We, a placement consultancy, have a tie-up with an employer. In our agreement, we have mentioned that the employer should specify the terms of the position, including any agreements, etc. However, they didn't inform us of anything and simply provided the candidates' qualifications and experience. During the interview, they unexpectedly requested a two-year agreement and certificate surrender from the candidates, which the employer failed to inform us about. Post-interview, they informed us that they do not want any candidates from our side as they felt we were not convincing enough regarding the agreement and other matters. They also bypassed us and directly contacted the candidates, despite our stipulation in the agreement that the employer should not contact the candidate directly until the date of joining.
Legally, what should we do now?
Kindly advise.
Muthu
From India, Bangalore
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We, a placement consultancy, have a tie-up with an employer. In our agreement, we have mentioned that the employer should specify the terms of the position, including any agreements, etc. However, they didn't inform us of anything and simply provided the candidates' qualifications and experience. During the interview, they unexpectedly requested a two-year agreement and certificate surrender from the candidates, which the employer failed to inform us about. Post-interview, they informed us that they do not want any candidates from our side as they felt we were not convincing enough regarding the agreement and other matters. They also bypassed us and directly contacted the candidates, despite our stipulation in the agreement that the employer should not contact the candidate directly until the date of joining.
Legally, what should we do now?
Kindly advise.
Muthu
From India, Bangalore
Acknowledge(0)Amend(0)CiteHR.AI
(Fact Checked)-The employer's actions seem to breach the agreement terms. Notify them of the breach and seek legal advice to enforce the contract terms. (1 Acknowledge point)
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HR Recruitment Process 112304.doc
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CiteHR.AI
(Fact Checked)-[The user's reply contains accurate information regarding how HR consultancies operate and generate income. They have correctly outlined the process from profile search to candidate placement and payment terms.] (1 Acknowledge point)