Requirements at a glance
Overview
The client is a renowned medical device manufacturer from Israel, decided to expand its business to India. However, they encountered significant challenges in recruiting local talent and managing payroll in line with local regulations and cultural practices.
Unraveling the complexity
Challenge
For a successful market entry, the client required skilled local talent familiar with the Indian medical device market. However, sourcing, vetting, and hiring these professionals from Israel was a considerable challenge. Furthermore, setting up a payroll system in accordance with Indian laws and regulations was a hurdle due to unfamiliarity with the local legal landscape.
Our tailored approach
Strategic Approach & Insights
Impact delivered
Results
We managed end-to-end recruitment for the client, starting from job posting to final onboarding. We also set up and managed their payroll, ensuring compliance with all local laws and regulations.
The results were significant:
- Time to Hire: We reduced the average time to hire by 40% compared to industry standards, filling key positions promptly and ensuring business continuity.
- Offer Acceptance Rate: Through our robust vetting process and attractive job offers, we achieved an offer acceptance rate of 90%, significantly higher than the industry average.
- Cost per Hire: Our efficient recruitment process led to a reduction in the cost per hire of 30%, allowing the client to allocate more resources to other aspects of their business.
- Payroll Management: We implemented a seamless payroll system in compliance with Indian regulations, ensuring timely and accurate salary disbursements and minimizing payroll-related queries from employees.
- Our efficient talent acquisition and payroll management enabled the client to focus on their core business and contributed to a smooth market entry.
Final Analysis
Conclusion
Our Talent Acquisition & Payroll Management services played a crucial role in the client’ successful expansion into the Indian market. By ensuring quick hiring of skilled professionals and smooth payroll operations, we allowed the client to focus on their core business and effectively navigate the new market. This case demonstrates the value of partnering with a knowledgeable and experienced agency when expanding into foreign markets.
