In an exclusive interaction with SupportBiz, Randhawa highlighted the key issues in accessing raw talent as well as the major trends prevailing in the HR industry. Edited excerpts from the interview:
Networking is very important for HR managers. How did you convert this idea into a business plan for HR Connect?
We realised that this area offers a great opportunity. On one hand, HR managers working from leading corporate houses want to access more and more talent. On the other hand, the Indian education scenario is becoming so comprehensive and diverse there are vast numbers of students from specialised fields waiting to enter the industry that is relevant to them. We built HR Connect with an objective of providing better prospects to both parties - corporate HR managers and students - and act as a facilitator for the hiring process graduates fresh out of college.
How do you use technology to bridge this gap in the HR industry?
We use technology extensively. The online platform is the major platform for our business. We will soon be using video conferencing solutions to enhance the level of collaboration between HR managers and colleges. This will provide better positioning to colleges, and help them spread the right word about them.
What is your revenue model?
We do not charge anything from the HR managers, but we collect a fee from colleges to access this network. We do not allow direct access to students, but provide access to recruitment managers or teachers representing a college. In this way, we maintain the quality of discussion as per our set standards.
What are the key trends you are presently witnessing in the HR segment?
The increasing use of social media and video conferencing are two important trends that we are witnessing in the HR segment. HR managers want to reach out to maximum number of students, and these platforms help them do so.
More and more HR managers are understanding that talent can also come from Tier-2 or Tier-3 cities.
How has your business journey been so far?
We started our business in 2009, and we launched HR connect in 2011. It is been over a year since we went live with HR Connect. In this period, we have been able to include more than 2,000 top HR managers on our network. A few months back, we opened membership to recruitment officers of colleges. As of now, we have more than 300 recruitment officers from 40 colleges across the country.
How do you foresee your growth in the near future?
By the end of the next year, we hope to cover around 100 colleges. By March 2013, we hope to have 5,000 HR managers on our network.
We expect to register a turnover of Rs. 2.5 to 3 crore in the next financial year.