- Venture to Introduce Recruitment Process Outsourcing and Deliver Innovative Project-Based Solutions to Help Companies Address Talent Acquisition at Middle-Management Level in Fast-Growing Market - - Asia/Pacific Business Up 50% Year-Over-Year -
Los Angeles and Singapore, November 18, 2005 -- Futurestep, the recruitment outsourcing subsidiary of Korn/Ferry International (NYSE:KFY), today announced that it has expanded its global footprint to New Delhi, India. The move comes one year after the start of the Company's operations in Shanghai, China and is the next step in the strategy to support the ever-growing demand for its services across the Asia/Pacific region, where it now has offices in eight countries. Futurestep Asia/Pacific is experiencing 50 per cent revenue growth year-over-year.
The Futurestep team in India will focus on recruitment process outsourcing (RPO) services, in addition to project and mid-level recruitment. These innovative solutions are scalable to help both local and multinational companies meet the specific challenges they face attracting and retaining skilled professional labor as demand continues to skyrocket nationwide. In the past decade alone, it is estimated that the number of middle management positions across India has increased by an average of 20 percent each year.
“Establishing ‘best-in-class’ organizations in India is a critical step for our clients seeking to secure their footing on the global stage,” said Robert McNabb, executive vice president of Korn/Ferry and CEO of Futurestep. “Futurestep’s mission is to partner with these organizations to develop innovative hiring strategies that transform their current and future talent acquisition needs through our structured recruitment processes, proprietary technologies and highly experienced recruiters.”
“Our expansion into India is a significant step towards building our regional network to deliver integrated talent solutions for clients more seamlessly and powerfully than any other RPO provider,” said Tim Nelson, regional managing director, Futurestep, Asia/Pacific. "Under the leadership of Mr. Asim Handa, who has significant experience in creating and scaling recruitment and outsourcing systems, we are well positioned to introduce a new suite of recruitment services that will take our clients through the next phase of growth and beyond.”
About Futurestep Founded in 1998, Futurestep is Korn/Ferry International's recruitment outsourcing subsidiary, focusing on creating innovative and scalable recruitment and people solutions to meet clients’ unique talent needs. In addition to recruitment process outsourcing (RPO), the Company's portfolio of services includes managed services, project-based recruitment, interim solutions and mid-level talent search. With 32 offices in 17 countries worldwide, Futurestep now has a presence in the following countries across Asia/Pacific: Australia, China, Hong Kong, India, Japan, Malaysia, New Zealand and Singapore.
About Korn/Ferry International With more than 70 offices in 35 countries, Korn/Ferry opened its first office in India in Bombay (now Mumbai) in 1994 and a second office in New Delhi in 1997. Based in Los Angeles, the firm partners with clients worldwide to deliver unparalleled senior-level search, management assessment, coaching and development, and recruitment outsourcing services through its Futurestep subsidiary.
