I am in middle phase to set up a hr consultancy firm in India. Can anyone please suggest me how to draft agreement between our consultancy and our client as a company on legal terms basis?
From India, Faridabad
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From India, Faridabad
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You need to go to an advocate who deals in these matters. Specific terms for your company as per your requirement etc can be discussed and incorporated.
From India, Pune
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3251From India, Pune
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Hi,
Welcome to the HR Consulting Fraternity!!
Contract agreements will be different for a varied range of services you provide. For Recruitment Services - fees would vary from 8.33% to 12.5% to 16.66% (junior - middle - senior management). For Training Services - fees vary from 5,000 to 1.5 lacs and even more, depending on the training services you provide. Background Verification - fees range from 100/- to 750/- per check/verified checks. Consulting Projects - fees range from 5,000 to 1,00,000 for start-up firms.
I suggest you remain competitive in the market with your best ability to provide services. Generate leads and consistently follow up on them to generate business. Have patience and continue working on your business plans and development activities.
For any assistance, you can email us at meritttrainings@gmail.com.
Cheers!!
Wilma Gupta
From India, New Delhi
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Welcome to the HR Consulting Fraternity!!
Contract agreements will be different for a varied range of services you provide. For Recruitment Services - fees would vary from 8.33% to 12.5% to 16.66% (junior - middle - senior management). For Training Services - fees vary from 5,000 to 1.5 lacs and even more, depending on the training services you provide. Background Verification - fees range from 100/- to 750/- per check/verified checks. Consulting Projects - fees range from 5,000 to 1,00,000 for start-up firms.
I suggest you remain competitive in the market with your best ability to provide services. Generate leads and consistently follow up on them to generate business. Have patience and continue working on your business plans and development activities.
For any assistance, you can email us at meritttrainings@gmail.com.
Cheers!!
Wilma Gupta
From India, New Delhi
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Thanks to Wilma Guptaji for providing some information on charging for consultancy.
There are many retired HR seniors who have opted to work as consultants with their rich experience of 35-40 years in HR, IR, legal, admin management, etc., and there is a scope for providing such consultancy. There are many companies that do not have proper systems, rules, policies.
Though consultants offer rates for:
- Framing leave rules
- Standing orders up to certification
- Recruitment - appointment rules, procedures
- Appointment order forms, different policies
- Registration under Factories / Shops Act
- PF, ESI, etc.
Many companies do not agree to the charge and offer a lower rate. Hence, many consultants remain underpaid. It will be a great help, and I request seniors to provide charges that we can ask for doing some of the above works so that we can rightfully earn for our livelihood.
Since retired officials may not get regular monthly income or earnings and have to depend on such small consultancy charges, which work is also less, the advice and guidance of seniors will be a great help.
Thanks and with kind regards,
HR Consultant, Hospet, Bellary Dist., 20.2.2018
From India, Bangalore
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There are many retired HR seniors who have opted to work as consultants with their rich experience of 35-40 years in HR, IR, legal, admin management, etc., and there is a scope for providing such consultancy. There are many companies that do not have proper systems, rules, policies.
Though consultants offer rates for:
- Framing leave rules
- Standing orders up to certification
- Recruitment - appointment rules, procedures
- Appointment order forms, different policies
- Registration under Factories / Shops Act
- PF, ESI, etc.
Many companies do not agree to the charge and offer a lower rate. Hence, many consultants remain underpaid. It will be a great help, and I request seniors to provide charges that we can ask for doing some of the above works so that we can rightfully earn for our livelihood.
Since retired officials may not get regular monthly income or earnings and have to depend on such small consultancy charges, which work is also less, the advice and guidance of seniors will be a great help.
Thanks and with kind regards,
HR Consultant, Hospet, Bellary Dist., 20.2.2018
From India, Bangalore
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Dear Friend,
It's difficult to give a single quote for such assignments. I suggest fixing a man-hour rate - The Magic Formula - Start from the bottom of your income statement and build up to get to your top line (i.e., the fees that you will charge). Profit + Labor Costs + Overhead = Daily Fee Revenue. It depends on you how much revenue you are looking to earn every month.
For example - If you plan to take home an annual salary of 30 lakhs and work 260 days per year (365 days, minus Sundays, a few Saturdays, holidays, and two weeks' vacation), you will pay yourself INR 11,538 per working day and so on...
So you have to decide your revenue generation power vis-a-vis the market affordability. Be flexible and try working around the client's budget too for a win-win deal. Don't miss out on any opportunities just because of pricing. It's very dynamic and keeps fluctuating based on demand and supply ratios. So keep watching the market trends to derive your Best Price.
Take Care,
Wilma Gupta
From India, New Delhi
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It's difficult to give a single quote for such assignments. I suggest fixing a man-hour rate - The Magic Formula - Start from the bottom of your income statement and build up to get to your top line (i.e., the fees that you will charge). Profit + Labor Costs + Overhead = Daily Fee Revenue. It depends on you how much revenue you are looking to earn every month.
For example - If you plan to take home an annual salary of 30 lakhs and work 260 days per year (365 days, minus Sundays, a few Saturdays, holidays, and two weeks' vacation), you will pay yourself INR 11,538 per working day and so on...
So you have to decide your revenue generation power vis-a-vis the market affordability. Be flexible and try working around the client's budget too for a win-win deal. Don't miss out on any opportunities just because of pricing. It's very dynamic and keeps fluctuating based on demand and supply ratios. So keep watching the market trends to derive your Best Price.
Take Care,
Wilma Gupta
From India, New Delhi
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A consultancy’s profit margin should average between 15% and 25% of its total expenses.
From India, New Delhi
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From India, New Delhi
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Dear Shri Wilma Guptaji,
Thank you for your kind response providing some guidelines to follow regarding rates for consultancy. It is encouraging, and I shall work on it while negotiating with prospective parties.
Thanks once again and with kind regards,
c.neyimkhan@gmail.com
HR Consultant, Hospet, Bellary Dist.
20th February 2018
Today from India, Bangalore
From India, Bangalore
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Thank you for your kind response providing some guidelines to follow regarding rates for consultancy. It is encouraging, and I shall work on it while negotiating with prospective parties.
Thanks once again and with kind regards,
c.neyimkhan@gmail.com
HR Consultant, Hospet, Bellary Dist.
20th February 2018
Today from India, Bangalore
From India, Bangalore
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SECURITY Agreement-Draft .doc
Draft wage agreement.pdf