Getting the right job and getting right candidate for the job -- two sides of the same coin. Identifying this as a business opportunity, three professionals came out with a unique business model and founded MeritTrac Services in 2000, the first of its kind recruitment process outsourcing company.
Says one of the three founders, Madan Padaki, a former Infosys employee, "Today companies just don't have the time to recruit people, especially software companies. We have simplified the entire recruitment process which helps companies save time and resources."
MeritTrac's process is simple. When a company wants to recruit MeritTrac does the preliminary screening of resumes and shortlisting of candidates for tests and interviews. The recruiter comes in only at the time of the final interviews.
"We have designed assessments for corporate customers for pre-recruitment and employee assessments. For individuals, we have tests measuring skills for employability across various sectors,' says Padaki. It has a suite of 200 tests spanning communication skills, domain knowledge and personality profiling, delivered both online and offline.
Some of MeritTrac's clients include ABB, Accenture, Adobe, Allianz Cornhill, Avaya Telecommunications, Capgemini, Capita, Computer Associates, Dell, GE Consumer & Industrial, Intel, ITC, ICICI Prudential, UTI Bank, Tesco, Oracle and Verizon.
MeritTrac is also the assessment partner to the governments of Karnataka, Kerala, Orissa and West Bengal for talent pool enhancement programmes. It partners several academic institutions like Bharathiar University, Visveswariah Technological University for assessing their students on industry-readiness.
MeritTrac, which reported a total revenue of Rs 11 crore (Rs 110 million) in 2005-06, is looking at becoming a Rs 100 crore (Rs 1 billion) company by March 2009. The company, which initially struggled to interest investors in its business idea, last year succeeded in getting $3.5 million from HSBC Private Equity.
It has also planned forays into China, Mauritius and South America to service its existing clients.