Summit HR on prowl for small recruitment outfits

MUMBAI: Summit HR Worldwide, a talent supply chain management and Recruitment Process Outsourcing (RPO) firm, is actively discussing and evaluating candidates for inorganic growth and an acquisition is likely by the first half of this year.

"India is a highly fragmented market with small mom-and-pop firms occupying a major market pie here. We are looking for companies that have attractive contracts but lack the requisite capital and scale," Ranjan Sinha, chairman and CEO of the company, told a press conference here today.

The company announced expansion plan for Summit India in addition to a strategic partnership with the New York based $400 million The Superior Group that entails financial investment to expand operations.

It plans to open six additional recruitment process centers, with headquarters in Pune, and accessing 12 more cities for business in India.

The company currently has two service centers in Chennai and one in Pune that tot up to 500 recruiters in India.

Kunal Banerji, who was at the helm of Ma Foi earlier, has been designated to head Summit India.

Sinha expects the HRO and RPO (Recruitment Process Outsourcing) industry in India to grow considerably.

"In 2005, the recruitment business as per service fee collection stood at $1 billion here. We have grown by 100 per cent in last 12 months and expect the industry to clock at least a 10 per cent clip ahead," he added.

© CyberMedia News