Due to long hiring cycle time IT industries maintain large pool of resources to meet the requirement of upcoming projects. These resources are either blocked for upcoming projects or buffers in existing projects or getting trained for future assignments.
Disconnect between skills available from project ramp downs and skills required for new projects leads low resource utilization.
If hiring speed can be enhanced from average 6 weeks to 3 weeks it would be possible to improve utilization levels by reducing the blocked and bench pool.
There is a need for specialized Vendors who can help shorten the hiring cycle by keeping tab on likely available resources in specific skills across industry.
Outsourcing of Recruitment function can improve the bottom line by 5 to 7%
