Network of IT job portals mooted

IT People India, the human capital solutions provider, is on the lookout to create a network of IT job portals across West Asia, China, US and Europe.

The company will soon start scouting for local partners in select nations to extend its global operations. The network is also expected to enable the company acquire major international companies as clients for contract consulting.

Presently, the company has built up a database of 100,000 resumes for its portal www.itpeopleltd.com which enables job seekers to register and list their resumes for free.

The resumes can be accessed by employers and recruitment consultants after payment. Having found local partners in the targeted countries, the company will create customised pages for recruiters based on geographic locations.

Through its consulting division called IT people consulting, the company caters to clients in India and West Asia. At present, contract consulting makes up 2/3rd of the company's revenues and company officials say that by 2008-09, the portal and consultancy divisions would bring in equal revenues.

The high attrition in the IT sector is a trend the company hopes to capitalise on. Quoting recent Nasscom and other market estimates, Ketan Sheth, chairman, IT People said, "It is estimated that around 7,000 people change jobs in the IT and ITeS industry every month in addition to fresh recruitment of about 14,000-16,000 people per month in the industry. Conventional recruitment ways cannot handle such a high attrition rate and this will initiate a market drive towards the establishment of technology-based recruitment."

To fund its expansion plans, the company will make a follow-on public issue aggregating to Rs 45.25 crore. The issue is due to open on August 27 and will close on August 31.