Teamlease headcount to touch the 1 lakh mark by Dec

BANGALORE: Recruitment agencies are making the most of the incessant talent demand by Corporate India. Temp staffing major TeamLease saw a buoyant growth of 133% this year taking its revenues from just Rs 240 crore to nearly Rs 560 crore in March 2007.

With no signs of a dip in demand for talent and the current scenario of rising attrition, TeamLease has now set an ambitious target of Rs 1,000 crore by March 2008. However, while revenues seem to be on a steady rise, TeamLease turned cash positive only in 2006. “Our profits are not as significant, because we have followed a model where we have decided to invest in more verticals and increasing our business,” said, Ashok Reddy, TeamLease’s managing director.

The company now has 72,000 people on its payrolls and hopes to touch the 1 lakh figure by December 2007. “The growth figures we have seen are on the back of increasing our associate base significantly. We expect to have 1.15 lakh temp staff on our payrolls by the end of the next fiscal,” said Mr Reddy.

TeamLease is also betting big on permanent staffing, a business the company ventured into just two years ago. “We plan to double our turnover from permanent staffing to nearly Rs 24 crore by the end of next fiscal year.

Currently, we have a 200-member team, but plan to add 100 more people by the end of this year. We are aiming to become the largest permanent staffing agency by 2008-2009,” Mr Reddy said. TeamLease is currently among the top five permanent staffing agencies in the country.

With headquarters in Bangalore, TeamLease currently has offices across 23 cities and associates in 480 locations. The high growth verticals for the company have been retail, BFSI, IT, manufacturing & engineering, FMCG and telecom.