What is Recruitment Services ?

Recruitment services refer to the professional assistance provided by individuals, agencies, or firms to help businesses find and hire qualified candidates for job openings within their organizations. These services can be outsourced to external recruitment agencies, or some businesses may have internal human resources (HR) teams that handle recruitment functions. The goal of recruitment services is to streamline the hiring process, attract suitable candidates, and match them with the right job opportunities.

What is Direct Hiring ?

Direct hiring, also known as direct placement or direct recruitment, refers to the process in which an employer directly hires a candidate for a job position without involving an external intermediary, such as a recruitment agency or staffing firm. In this scenario, the employer takes on the responsibility of sourcing, screening, and selecting candidates for a specific job opening within the organization.

What is Temporary Staffing ?

Temporary staffing, also known as temp staffing or temporary employment, refers to a work arrangement where businesses hire workers for a specific period to meet short-term needs. These temporary workers are employed by a staffing agency or employment agency and are assigned to work at client companies for a designated duration, often to cover seasonal demands, special projects, employee absences, or other fluctuations in workload.

What is Finance, Accounts and Taxation Outsource ?

Finance, accounts, and taxation outsourcing refers to the practice of hiring external service providers to handle specific financial, accounting, and taxation functions for a business. This outsourcing model allows companies to delegate non-core, repetitive, or specialized tasks to third-party experts, freeing up internal resources to focus on core business functions. It is a common practice among businesses looking to streamline operations, reduce costs, and access specialized expertise.

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Terms & Conditions for Recruitment

This agreement is made on the ……Date… between Global HR Solution having its registered office at C-19, Second Floor Sec-13, Vasundhra, Haat Complex, Vasundhra Ghaziabad 201012 here in after referred to as “Recruiter” and such expression include its successors and assigns on the ONE PART.

AND

(...... Your Company Name). having its (...... Your Company Name) Address. Hereinafter referred to as “(...... Your Company Name).” and includes its successors and permitted assigns on the

OTHER PART.

Whereas Recruiter is in the business of providing recruitment services in India and has represented to (...... Your Company Name). that it has the requisite experience, expertise, database and infrastructure to identify and provide to (...... Your Company Name)., possible candidates who may be recruited by (...... Your Company Name)., if found suitable.

Now this agreement is witnessed as follows:

Appointment – This agreement is effective from ….DATE……….. By signing this agreement Recruiter agrees to provide for (...... Your Company Name). the candidates for the positions specified by (...... Your Company Name). from time to time.
Term - This agreement shall remain in force for 1 years from the date of signing unless either party terminate it with one month’s prior notice in writing. The agreement may be renewed for a further period if both parties agreed in writing.
Scope - The Scope of Services of the Placement Consultant will cover the following:
1. The requirement specifications will be given to Recruiter by (...... Your Company Name)..
2. Recruiter with its special search methodology will identify and check the candidate’s academic and professional backgrounds, skills, and personal characteristics related to the detailed job specification. The recruiter will introduce potential candidates to (...... Your Company Name). for the notified position(s).
3. Candidates who meet the profile requirements will go through the (...... Your Company Name). selection process.
4. Offers will be issued directly to the selected candidates and follow-up on joining will be coordinated by (...... Your Company Name). and Recruiter. (...... Your Company Name) will intimate the Recruiter with the complete details of the candidate(s) appointed through viz. Date of joining, Designation and Compensation - CTC of the candidate; maximum within 3 days from the date of his/her appointment.
5. (...... Your Company Name). will be required to send wise feedback to the candidates against all CVs.
6. In case any of the resumes sent by the Recruiter to (...... Your Company Name). is already in (...... Your Company Name).’s stock or (...... Your Company Name). has received the same through any other source, (...... Your Company Name). shall inform the Recruiter about the same by email, within 2 days from the date of receipt, else it will be presumed considered from Global Info Solution.
7. Once (...... Your Company Name). has taken the contact detail of any candidate from the Recruiter or if he/she has been invited for an interview, through our Resource Department, such candidate(s) if selected by (...... Your Company Name). will be in Recruiter’s account exclusively.
8. Cost of travel of an outstation candidate will be borne by (...... Your Company Name). if agreed upon before the travel takes place.
9. Service charges are payable even if a candidate is selected and joins(...... Your Company Name). LTD.& its Subsidiaries for any other position than the one he had been originally referred for.
10. Service charges are payable even if a candidate is selected and joins (...... Your Company Name). LTD. after a lapse of time but within 1 month from the referred date.
Fees and Terms:
1. 8.33% of annual CTC* (*Excluding Incentive, Bonus, Gratuity, Car Allowance and Driver Allowances) Gross will include Basic, HRA, PF, LTA, Medical, Uniform allowance, soft furnishing allowance, Education allowance, periodicals allowance, conveyance and any other remuneration under any other Head which is given as monthly /annual compensation. This will exclude only sales and performance, incentives, and stock options.
2. Good and Service Tax (GST) [as applicable], other taxes levied by the government which is applicable or imposed by the government from time to time shall be payable by CLIENT & its Subsidiaries.
3. Over and above, a service tax is applicable on the Service charges, as per Government norms.
4. The cheque to be issued in favor of "Global HR Solution." against the bill that will be issued to you towards our service charges immediately upon the appointment of candidate(s), payable within 30 Days maximum.
Replacement of candidate: It is the responsibility of the Recruiter to provide a suitable replacement (Free of Cost), in case the candidate resigns from (...... Your Company Name). within 90 days from the date of joining.
Termination - This agreement may be terminated by either party at any time prior to the completion of the period of the agreement, by giving not less than one-month advance written notice by either party in writing addressed to the other party.
Confidential - The Third Party/ Recruiter or its employees shall maintain utmost confidentiality of any information that is classified as confidential by (...... Your Company Name)., that they may come across while working with company. As used in this Agreement, the term Confidential Information includes, but is not limited to product specifications, data, technical know-how, formulae, processes, designs, sketches, photographs, graphs, drawings, samples, prototypes, inventions and ideas, reports, past, current, and planned research and development, strategic information, current, planned manufacturing methods and processes, draft or pending patent applications, and other similar technical materials, however, documented, marketing plans and other business or technical information and any information designated as proprietary or confidential by (...... Your Company Name). All the communications between both parties that are made during the term of this Agreement shall be considered as confidential information.

Global HR Solution

Authorized Signatory

(...... Your Company Name)..

Authorized Signatory

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OUTSOURCING

Meaning & Definition

Outsourcing is a business practice where a company contracts out certain tasks or functions to external service providers rather than handling them in-house. This is often done to reduce costs, access specialized skills, improve efficiency, and focus on core business activities. Outsourcing can involve various business functions, including information technology (IT), customer support, manufacturing, human resources, and more.

Key Aspects Of Outsourcing:

Cost Savings : Outsourcing is often pursued to reduce operational costs. Companies can benefit from lower labor costs, economies of scale, and access to specialized expertise without having to invest in extensive in-house resources.

Specialized Skills : Outsourcing allows companies to tap into the specialized skills and knowledge of external service providers. This is particularly beneficial for tasks that require specific expertise, such as software development or digital marketing.

Focus on Core Competencies : By outsourcing non-core functions, companies can concentrate on their core competencies and strategic activities. This can lead to increased innovation and competitiveness.

Flexibility and Scalability : Outsourcing provides flexibility, allowing companies to scale their operations up or down based on business needs. This is especially valuable in industries with fluctuating demand.

Globalization: Outsourcing often involves working with service providers located in different geographic locations, contributing to the globalization of business operations.

OUTSOURCING COMPANIES

IT Outsourcing Companies : These companies provide services such as software development, IT support, network management, cybersecurity, and more.

Business Process Outsourcing (BPO) Companies: BPO companies handle specific business processes, including customer support, data entry, human resources, finance and accounting, and other back-office functions.

Manufacturing Outsourcing Companies : Companies that outsource manufacturing processes to external suppliers, often in different countries, to reduce production costs.

all Center Outsourcing Companies: Specialize in providing customer support, telemarketing, and related services through call centers.

Research and Development (R&D) Outsourcing Companies : These companies offer R&D services to help clients with product development and innovation. When choosing an outsourcing partner, companies typically consider factors such as the provider's reputation, track record, quality of service, security measures, and cost-effectiveness. Effective communication and a well-defined contractual agreement are crucial to ensuring a successful outsourcing relationship.

OUTSOURCING ACCOUNTS , FINANCE AND TAXATION

Finance, Accounts and Taxation Outsource Work

Outsourcing Accounts: • Bookkeeping: Outsourcing bookkeeping services involves the maintenance of financial records, including recording transactions, preparing financial statements, and reconciling accounts.
• Payroll Processing: Many companies outsource payroll processing to ensure accurate and timely payment of employees, compliance with tax regulations, and proper record-keeping.
• Accounts Receivable and Payable: Managing accounts receivable and payable, including invoicing, tracking payments, and handling vendor bills, can be outsourced to improve efficiency.

Outsourcing Finance: • Financial Analysis and Reporting: Outsourcing financial analysis and reporting services can help businesses make informed decisions based on comprehensive financial insights.
• Budgeting and Forecasting: Some companies outsource the budgeting and forecasting processes to ensure a more strategic and objective approach to financial planning.
• Financial Planning and Analysis (FP&A): FP&A functions, such as variance analysis, scenario planning, and strategic financial planning, can be outsourced for improved resource utilization.

Outsourcing Taxation: • Tax Preparation and Filing: Outsourcing tax preparation services involves entrusting a third party with the responsibility of preparing and filing tax returns, ensuring compliance with tax laws.
• Tax Planning: Companies may outsource tax planning services to optimize their tax positions, identify tax-saving opportunities, and stay abreast of changes in tax regulations.
• Compliance: Ensuring compliance with local and international tax regulations is critical. Outsourcing this function can help companies navigate complex tax laws efficiently.

Benefits of Outsourcing Accounts, Finance, and Taxation:

Cost Savings: Outsourcing allows businesses to access skilled professionals at a fraction of the cost of maintaining an in-house team.

Expertise: Outsourcing firms often specialize in accounting, finance, and taxation, bringing a high level of expertise to the table.

Focus on Core Business: By outsourcing non-core functions, companies can concentrate on their core business activities and strategic objectives.

Scalability: Outsourcing provides scalability, allowing businesses to adjust the level of service based on their needs and growth.

Risk Mitigation: Outsourcing partners are often well-versed in compliance and regulatory requirements, helping businesses mitigate the risk of errors and non-compliance.

Technology Integration: Outsourcing firms often leverage advanced accounting and finance technologies, providing clients with access to the latest tools without the need for significant investments.