Ma Foi Randstad Workmen Compensation Report 2010

The Consulting & Outsourcing arm of Ma Foi Randstad has released the Ma Foi Randstad Workmen Compensation Report. This extensive study on compensation & benchmarking exercise covers ITI diploma holders skilled in welding, machining, fitting and assembly across 45 Auto component companies in the country.

With most auto components companies posting positive results due to the aggressive expansion plans for new model launches by major car manufacturers, the Auto component industry in India is displaying fast growth. Currently, the Indian share is at 0.9 per cent in the global auto components market and it is expected to increase to 2.5 per cent by 2015. According to Ministry of Heavy Industries & Public Enterprises 25 million jobs are expected to be created by 2016.

On this positive note, some of the key findings from the study are that Chennai, NCR and Pune will continue to lead as major hubs in auto components sector. The increments for the period of 2010-11 are expected to be between 11-13%. In monthly compensation, the southern region is leading by about 8-10%, while western region is ahead of North by about 2%.

Mr. K. Pandiarajan, MD Ma Foi Randstad, said, “This study is an effort to gather and share information to effectively deal with the human capital challenges present in Auto components industry. We hope that the study will help companies take strategic decisions by creating a robust remuneration framework, in line with the industry Best Practices.”

About Ma Foi Randstad: Ma Foi Randstad is an international HR service provider servicing world class companies across the globe. Started in 1992, the company has grown into a full spectrum HR services provider for clients worldwide. It has helped generate career opportunities for more than 2, 80, 000 individuals in 36 countries and has worked for over 250 Fortune 500 organizations.

Ma Foi Randstad offers the broadest HR services portfolio ranging from Search, Selection, Staffing, Consulting, Outsourcing, Training and HR Automation. The organization has a vast network of offices across the country to be within reach of candidates and flexi workers.
Ma Foi Randstad continues to focus on developing customized and innovative HR services, leveraging on its unique strengths of geographical presence and end-to-end capability across all HR service functions.

About Randstad:
Randstad specializes in solutions in the field of flexible work and human resources services. Our services range from regular temporary staffing and permanent placement to inhouse, professionals, search & selection, and HR Solutions. Since acquiring Vedior in 2008, the Randstad Group is the second largest HR services provider in the world with top three positions in Argentina, Belgium & Luxembourg, Canada, Chile, France, Germany, Greece & Cyprus, India, Mexico, the Netherlands, Poland, Portugal, Spain, Switzerland and the UK, as well as major positions in Australia and the United States. End 2009 Randstad had approximately 25,500 employees working from over 4,100 branches and in house locations in 44 countries around the world.

Randstad generated revenue of € 12.4 billion in 2009. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad Holding NV is listed on the NYSE Euronext Amsterdam, where options for stocks in Randstad are also traded. For more information see http://www.mafoirandstad.com/