Today is all about Empowerment.
I think since the time human resource (HR) and management were coined, the sole purpose was to empower ‘people’ at work, though the strategy lacked certain charisma of hi-tech. The digital advances in the recent times have only taken the function to yet another level of smarts.
Development is one thing, developing in the right direction is another and kind of a big deal.
Solid hiring selection process plays a vital role for any organization as human resource is the most critical asset for any company. There are ample consultancies which provide the HR services with heavy charges. But what about the companies which are not at a position to pay such heavy fees. Can they get such specialized services with a low cost with a specialized recruitment services.
Yes, with coordinated efforts of a group of young enthusiastic people Hemin Sheth, Wasim Khan and Disha Modi a venture called Recruiterlane services has beautifully solved this problem. With robust strategic process RecruiterLane has screening tools, applications, and interviews etc. With a portfolio of 450 clients pan India this whole concept lies with a low cost flexible recruitment service so that it is also serves to startups and small scale companies.
Recruiterlane has made remarkable results so far with a proven record of reaching milestones. Lets See what they have to offer to all business organizations and see their journey till now.
1.What is the Name of Your Venture? Any specific reason for this name?
The name of our venture is Recruiterlane Services.
Since we are an HR company working on a unique model we think the name Recruiterlane services reflects our line of business.
2.Who is your target Audience/clients?
We have worked with more than 450 clients PAN india and we cater to startups and SMEs which includes clients like Ketto, IndiaCircus, Foxymoron, PrettySecrets, VolgaInfotech, Peachmode, Nikulsan, Wandrlabs, Qacco, Forbinary , Digit88 and many more. Since we are a low cost flexible recruitment service we do not restrict to any industry till the time we can fulfill them but most of our clients are from Internet, New age Media, Tech companies
3.Where is your venture based (city, state, country) & What are your geographical target areas?
We are based out of Mumbai and we do PAN India Recruitment. Most of our clients are from Mumbai, Delhi, Pune, Gurgaon, Bangalore, Hyderabad, Chennai and Gujarat.
4. What problems does your venture resolve? What are your products or services?
If you are looking to hire an employee then we can help you source the apt candidate for your company saving your time and efforts. Also unlike traditional consultants we do not charge you heavy commissions but charge you a fixed fee and our basic plan starts with as low as 15k per profile. So even if you hire 2 people for the same job profile, we do not charge you anything extra. Please have the time to go through our pricing page http://recruiterlane.com/index.php/pricing/
5.Share the idea or story behind the venture. How did it came to an existence? What motivated you to start your own venture?
We are a group of curious young individuals who always wanted to be an entrepreneur. We thought doing a job was not our cup of tea so when we realized that HR is our talent and this is what we know best we came along and started this venture together.
As soon as we finished studying and all three of us are from the same college, we took up a job in HR and educated ourselves with the various problems faced by startups and SMEs in hiring. When we thought we had the solution to most of the problems related to hiring, we left our jobs and started Recruiterlane. God was kind and we survived. From a team of 3 we are now 20 and constantly growing.
Its been a wonderful journey and I hope we do better.
6.Who are your biggest competitors and how do you differentiate yourself from them?
Most of the HR companies in India are our competitor its just that how we operate is completely different from them. We are a low cost recruitment service provider with guaranteed results within a given time frame.
Most of the HR companies charge you a commission which is 8.33% of the candidates annual CTC which becomes to expensive for a startup to shed out that much money. What we provide is a fixed fee of 15k or 20k upfront depending on the seniority of the profile and irrespective of what CTC you hire and irrespective of How many people you hire for the same job profile, our fee remains fixed.
7.How did you identify your co-founder? Tell us some thing about your co-founder/s
We are three partners 1) Hemin Sheth (me)
2) Wasim Khan
3) Disha Modi
We all studied in the same college Malini Kishore Sanghvi College of commerce and economics and were friends since then. Luckily all 3 of us got placed at the same work place so working together was never an issue. Since partnership companies is more about putting in your 100%, having faith in each other, respecting each others work and having a common goal to keep the company above us, couldn’t think I could have found better people to start this company with.
8.How did you hire your first team members? What skills do you want in your employees/team?
Since we are an HR company we did it through our own database. We normally hire Business Development Executives and Recruiters throughout the year. We prefer freshers with good communication and convincing skills to train them the way we want.
9. What expansion plans are you looking for the next 2 years, next 5 years?
For the next 2 years: – We are aggressively scaling up and would want our team size to go Upto 30 – 35 people from 20. Also from 450 we want to aggressively tap clients and take the count to 1000 – 1500 and spread awareness about this unique model to help people save on their time and cost.
For the next 5 years : We would want to reach out globally, add a few more services apart from recruitment and get into 3rd party payroll, RPO and Corporate training. Also we would not want to lose out on people who want to work on the traditional model so would want to create a separate team for that too.
10. Where do you want to see yourself in next 10 years?
I would want to see Recruiterlane amongst the top players running the HR Business. Possibly having solutions for every problem that exists in recruitment. We really like the tag line we created One Stop Hiring Solution and we want to live up to it. If you are looking to hire the only thing that would come in your mind would be Recruiterlane Services
11.What are your goals over the next 1, 3, 6 and 12 months?
Keep Hiring, Keep getting new clients and Keep growing with more and more closures.
Currently we have a 70% closure rate and we really want to reach 100. We are figuring out means to do that and hopefully we will be there soon.
12.Have you raised any funding? Or have any plans for the funding?
Bootstrapped. We are doing pretty well in terms of Business so wouldn’t want to give away that share to anyone else. However if need arises in future which is highly questionable, we are open to this idea.
13. What were the problems you faced during the starting days and how did you resolve them?
Working capital was the only problem. Starting a Business aint easy and since we were bootstrapping taking out money for an office space, website, regulations, wage etc was a challenge initially. But within the first 3 months we managed to pull in 70-80 startups on our low cost model and started growing 20-25% in terms of revenue so everything fell in place.
14. What was the most challenging part of your journey till now? How did you overcome those challenges?
To make sure that we close every profile that we get in was the biggest challenge. Being in the Human intensive business its difficult to get in standardization of recruitment process for every campaign.
For eg most of the people would like direct face to face interviews and there are few who would like to follow a process of shortlisting, doing telephonics and then calling them for an interview. With every client having a different mindset this was initially a challenge however later we decided to educate the clients in what works best.
We set expectations correct now before we begin the campaign this made our life easier and boost up our closure rate. We are currently having a 70-75% closure rate and still thriving to make it better.
15.Are you married, single or in a relationship?
Single. All of us are single and looking at our time schedule I don’t think any of us is getting married anytime soon.
16.What are your hobbies? What do you do in your non-work time?
Cricket, reading and when I am not working I am networking and spending time with friends and family
17. Whom do you consider your idol or biggest motivator?
Any successful entrepreneur is what I look Upto and would really want to be like Ratan Tata who is successful as well as socially responsible.
18.What do you feel is the major difference between entrepreneurs and those who work for someone else?
Both of them are related. You can’t be a successful entrepreneur if you have not worked for someone else specially in the service industry. You learn to be humble, disciplined and learn various aspects of business without which its difficult to start your own company. However in the long run if you want to be something and if you want to make a difference then working for someone is never going to help. Your talent is wasted if you do not know how to utilize it.
19.How has being an entrepreneur affected your family & Social life?
responsibility increases however didn’t affect my life much in terms of friends and family.
Infact they are more supportive now. Touchwood
20.Anything, you would like to say to our readers or upcoming entrepreneurs?
If you are ever looking to hire and want to save up on your hiring cost do come to us and we would not disappoint you. The Low cost model really works.
21.What is your USP which makes it unique & different from other start-ups in similar domains.
The Low Cost Model is our USP. You can hire multiple candidates and also irrespective of what CTC you hire the guy on our fee still remains fixed.
Most of the HR companies charge you a commission which is 8.33% to 16.66% of the candidates annual CTC which becomes too expensive for a startup to shed out that much money. What we provide is a fixed fee of 15k or 20k upfront depending on the seniority of the profile and irrespective of what CTC you hire and irrespective of how many people you hire for the same job profile, our fee remains fixed.
22. What do you think is the biggest threat to the success of small businesses & Start-ups today?
Growing number of startup competitors is the biggest threat in the success of SMEs. Sustaining has become more difficult and people have multiple options to go to and to keep yourself updated and maintain the quality of your work is must or someone else is always going to take your pie away.
23. Do you consider yourself successful and by what means do you measure success?
Not really successful the journey is not yet complete.
I measure success through various means but eventually if I can take care of my needs financially and if I am constantly growing then I would consider myself successful
24.Please share complete name, address, phone number, email id & website of Your Business & Contact Person
219, Kuber Complex,
Opp SAB TV office, New link road,
Andher w, Mumbai – 400053
Contact Person : Hemin Sheth – 9820244332 [email protected]
Wasim Khan – 9819279271 [email protected]
Disha Modi – 9930681006 [email protected]