Overlooked factor of the Indian Economy

Though the Indian economy is growing fast yet many things or factors are remaining unexplored and often overlooked. Recruitment is such a vital factor. If we do a quantitative analysis of the Indian recruitment business market then we will see that the business is quite profitable and competitive. Almost every week a company or the other is rising up here and there. But if we look deep into the real story, then we will find out that the basic system is faulty. Perhaps it is a major factor behind this brain drain. Ultimately we are losing our resources in hands of the western brain and money. All this is happening because all the firms are busy sending our country made resources to the foreign land and ultimately our performance in the economic arena is getting hampered. But just imagine if they try something different say the exact opposite of what they are doing today. I thing change management must be implemented everywhere. I think that if the recruitment firms also start promoting our rising quality and skilled Job requirement to the western countries then it will be profitable and act as a positive factor in protecting the business from stagnation. This is because the present recession hit the western countries in a much higher way than in India. Majors like Citi group and RBS made history and as a result it will be potential opportunity for the Recruitment firms to attract that Western workforce towards the Indian job market. It will be beneficial for the Indian economy also as today’s machines need expert skilled knowledge to operate or to maintain and the western workforce have a much higher practical technical knowledge than us as we focus more on theory.

The major loophole in the Indian recruitment industry is their own selection of employees. Most of the recruitment consultants don’t know the difference between sales and marketing .and every time you find for a marketing job they will offer you a sales job. In India getting a call from a placement agency with job offer in Insurance companies is normal but you will seldom get an offer from any leading advertising agency, PR firm or any media company. This is because they actually do not understand advertising and hence their own advertising is nil. The only expertise they have is the use of popular job portals, calling the wrong person for the wrong job and sometimes misguiding the job seekers.

Indian Non Banking Financial Organizations: The actual story revealed.

Now a days the Indian financial market is overcrowded with private Non Banking Financial Organizations, but if you ask any of them about their position in the market they will tell you that “we are no 1 and running in profit”. But is it really possible? I think you will get the answer if you look at the employee turnover rates of the company. But if still they are making profits then you can easily guess how they are managing it and ultimately how it is affecting everyone.

I have worked for several years with many of such organizations and observed that there are few basic flaws in their operations but they are not ready to rectify them. In India most of such NBFCs have a target oriented approach. Setting targets for profits is good but their target setting mechanism is absolutely unscientific. They set monthly targets for their employees and this is done randomly, not on the basis of capability. Now if a person from a ordinary family background joins such a company and his colleague is from a rich family and both their monthly target is same, then obviously the second one will be able to get more cases and business for the company using his family sources and will get promoted easily. But the ordinary one will finally get sacked. This is happening everyday but the companies don’t even think that this way many people are becoming jobless and help less. They actually don’t care. A good company always first take care of the internal customers and then the external customers. But in India the situation is completely different. The internal customers are exploited to the maximum, the external ones are ignored and harassed and the company in between makes the profit. Now if we talk of the HR or the authority which monitors everything, we will actually get frustrated as they do nothing. I have noticed that the perception about HR is mere recruiting authority and they actually take care of the recruiting and salary part only. But the actual job of HR or domain of work should be much larger. The HR is actually a bridge between the company and the employees. But in India the Hr is just a bridge which connects itself to the company and no one is allowed to use the bridge. It happened with me 1 year back when I was going to put a resignation letter to the HR due to change of job. I have not yet got the salary clearance. Do you want to know the name of the company?? We will be shocked to know that such a big company can do such a cheap thing…My ethics doesn’t permit me to openly disclose the name, but just to provide you an idea I’ll tell you that the company has its branch in Gariahat,Kolkata, New Delhi, Ambadeep Building.

Besides I have also seen how they are doing their force selling practices and if a person doesn’t need any investment or insurance they will not spare him as if he/she has committed a crime. But ideally they must create a ground for educating the masses first as I feel that in India around 20% is properly insured and the rest 80% is untouched.Regarding investments and insurance there is widespread ignorance and the financial institutions must first focus on educating them through various activities rather than directly forcing them to buy their product. A “rickshawalla” of Calcutta also needs an Insurance but if we tell them to invest a certain amount he will never understand. Moreover the insurance companies do not have any option for the poor classes as they can’t give high premiums. The companies are smart enough to approach the rich people as they will fetch higher premium hence higher revenue/profit. Now I think it will be an eye opener for all of us as I have shared the actual story. It is just to show you that its your money and how they are running into profit using the money of the masses. So next time you are going to invest in any such company, think twice as how they actually operate.

The purpose of "INSIDE STORY".

As this is my first post, I have decided not to write anything serious but will explain a little about my blog, myself and my purpose of starting this blog. Its not that I am new to blogging but the blog I maintain is for official purpose as presently I am into the online marketing profession. But the main reason for starting this blog is just to pen down the various ideas which comes to my mind everyday, the things I have experienced and the things which I observe everyday. I feel that people’s mind is like a datacenter where millions of ideas and thoughts get stored everyday, but most of the time we forget those due to lack of organization. But every idea is important and if jotted down in an organized manner then someday or the other it may benefit someone. Thus this blog will contain all such ideas, experiences which may be related to any field like finance, job, investment guidance, fashion, history etc whichever comes to my mind. My purpose will be to include information on job market and current job openings in India, investment planning, information on major stores and products and many more. I just want to assimilate all type of information under a common platform and wish me luck to accomplish my mission…