GEM Learning Services Pvt. Ltd is an ISO 9001:2008 certified organization, catering to the entire spectrum of Talent Services (Talent Acquisition, Filtration, Assessment, Training and On-Boarding). It is an initiative from experienced finance industry professionals and renowned educationists, with a vision to create Employable students to become Day Zero professionals for the Corporate for fulfilling the industry performance gaps acknowledging the need and the opportunity of the current era. Gem Learning has spanned its operation to Gujarat, Rajasthan, Maharashtra, MP, Chhattisgarh, Bihar, Jharkhand, Odisha, West Bengal, Uttar- Pradesh as of now and looks forward to more of Indian states ahead.
Gem Learning has collaborated with India`s best banking and financial services organization like HDFC Bank, L&T Financial Holdings, Mahindra Rural Home Finance, Mahindra Finance, Tata Capital, Jana Small Finance Bank, Ujjivan Small Finance Bank, Utkarsh Small Finance Bank, FINO Payments Bank, Au Small Finance Bank, ESAF Small Finance Bank, Annapurna Microfinance etc. to brook the entire onus of recruiting, training and delivering Zero Day ready professionals, right till its threshold. GEM LEARNING activity status for coming years pinpoints at excellent performance delivery oriented talent services, employment generation and certification programs with strategic tie-ups with leading players in the industry and a commitment to render state of art services in developing the customized workforce. The core strengths of these programs are vested into three main aspects, which co incidentally is core competencies of GEM LEARNING too!! First being the assured offer letter in hand of the aspirants prior to starting the program. Second is the Company specific skill infusion, nurturing and crafting into the aspirants to make them up to the mark.
2017-18 will be the fifth year of operations of the company. Gem Learning has gathered formal employment for more than 3000 people in the last 2 years. Since inception company has trained more than 15000 candidates and employees of various BFSI companies. This year the company aims to provide access to employment to more than 5000 people.
Banking and Financial Services Industry is the fastest growing segments of the economy, faces challenges of scarcity of resources and skilled manpower. Such skilled manpower is not easily available in adequate numbers to meet the growing requirement due to normal attrition, competition and faster growth in business. The position is going to worsen further for the BFSI system as a whole, due to superannuation of many experienced bankers in the Public Sector during the current decade.
OPPORTUNITY IN BANKING
With only 30-35% of the population financially included, the Indian public is still underserved by formal banking and financial services. This will lead to issue of new banking licenses and formulation of innovation model to serve the people which are not covered by traditional banks.
With the planned announcement of new licensing policy, more banks including small and payments banks have entered in to the sector due to which requirements of manpower with the requisite skill set are expected to increase many-fold. There is thus a large current as well as the future demand for trained manpower in banking and financial services industries which includes Rural and Semi Urban part of country.
Indian banks are estimated to recruit more than 750,000 skilled professionals by 2020, out of which 450,000 will be fresh graduates at the entry level positions. This is a huge opportunity in the future. With growing income levels and use of technology, banking sector is expected to become 4-5 times of its current size by 2020. In 2008, about 1.1 million people were directly employed in banking and by 2022 this number is expected to double.
According to a research, India’s E-Learning market is estimated to grow at a CAGR of 17.4% over the period FY2013-FY'2018, driven by multiple factors such as increasing government initiatives to promote e-learning, increasing adoption of technology, shortage of quality education, convenience and cost factors. With an inclination in the adoption of e-learning method to facilitate talent management in corporations, the demand of custom e-learning content and technology is expected to increase, thereby pushing up the overall growth of India's e-learning market.
Because of these opportunities and past relevant experiences of founder-promoters GEM had started their operations from BFSI industry and now with an experience of 3 years, company wants to expand in other sectors with complete HR solutions.
BUSINESS OPPORTUNITY IN JOB MARKET
Matching jobs and candidates has gained hugely in importance and we list here the trends likely to dominate in 2018. There would be increased focus on a nice candidate experience during recruitment process and enhanced employer branding to attract and retain talent.
In the jobs front, the year 2017 has been a noteworthy for India Inc., which showed positive developments and confidence in hiring statistics across all levels and especially newer geographies to man their expanding footprints.
Expert believes that this stability started with the political development mid-year at the centre and economic revival that followed with growth-oriented policies. The momentum has just begun and will definitely lead to significant gains in coming years as well.
Permanent recruitment is a Five-step (T5) process of sourcing, Talent Screening, Selection and On-boarding of candidates with sourcing being one the most critical steps, since it involves short listing and attracting the right candidates from the pool.
Sourcing of the right candidates takes place through campus recruitment programs, employment agencies, internal referrals and job portals. However, employment agencies and referrals account for more than 65% of the candidate sourcing process. Sourcing of candidates through employment agencies is now gaining traction and currently has a 30% share.
FUTURE GROWTH DRIVERS
• Large companies diversifying into new sectors
• Large MNCs in automobiles, luxury goods, and agricultural and food business setting up shop in India
• Acceptance and adoption of search companies by large family owned conglomerates
• Recruitment is evolving from an unstructured and fragmented ecosystem to players adopting new norms of productivity and efficiency.
• Recruitment firms have entered RPOs, which require large setups and online job portals to build a brand, to increase their market share and withstand competition from small players.
• General staffing companies are looking at entering the professional staffing space, while professional staffing organizations are slowly moving up the value chain to managed services through T-5 like solutions.