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Reliance Cap to hire 39,000 in two years

Reliance Capital plans to add around 39,000 people to its 11,000-strong workforce in the next 24 months, reports Suman Layak.
Hindustan Times | By Suman Layak, Mumbai
UPDATED ON JUL 03, 2007 11:20 PM IST

Reliance Capital plans to go on a hiring binge and add around 39,000 people to its 11,000-strong workforce in the next 24 months, chairman of the company Anil Ambani said at its annual general meeting in Mumbai on Tuesday.

A recent Ma Foi study says that the financial sector will create 140,000 jobs in 2007-08 and jobs in financial services will grow by 34 per cent. The announcement means Reliance Capital will be creating almost 15 per cent of all the jobs in the sector.

“We expect to be 50,000-strong in the next 24 months,” Ambani said. “The future growth of our company will be propelled by the quality of our human capital.” Ambani made the statement on hiring while talking about growth plans of Reliance Capital, which included investing Rs 2,000 crore in Reliance Life Insurance Company over the next four years.

Apart from employees, Reliance Life Insurance, a subsidiary of Reliance Capital, also has more than 100,000 life insurance agents. Both the insurance and retail services businesses are expanding fast and the company has also launched its consumer finance business in metros.

Indicating that the company will be hiring all across the country, Ambani said they had adopted a “localised” recruiting policy and were hiring from campuses in metro and non-metro locations.

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