You could call them the arms merchants in the tussle for jobs.
In times of slowdown when job openings are fewer and hiring processes increasingly stringent, more and more job seekers are passing on the tough task of resume writing to recruiting firms. Outsourcing the first impression is apparently a very hot idea.
The trend is most popular in the case of senior-level jobs. “Over 20% of our subscriber base of half a million has approached us for drafting a concise CV (curriculum vitae). They want us to align their skills to the current demand and overplay their achievements,” said Uday Sodhi, CEO at HeadHonchos.com, a job search portal for senior professionals.
“Last year, we designed resumes for 60,000 customers and this year, I see this number crossing a lakh,” said Payal Dhar, associate VP, resume writing, Naukri.com. “The momentum has led us to hire many senior HR professionals who can interview clients and design customised CVs.” She plans to add over 20 people to her 80-member team in three months.
Headhunters’ charges to craft resumes range from a base fee of R500 for freshers to as much as R9,000 for top management candidates. Until last year, industry experts did not realise just how viable these services were, but, as they see demand skyrocket, they have started devising other value added services (VAS) to boost revenues.
“Such services never generated volumes, but if the slowdown persists, the stream could emerge as a feasible revenue model,” said Sangeeta Lala, senior VP, TeamLease Services.
At present, VAS contribute only 3-5% to the revenue of job portals that rely mainly on recruiter advertisements.