CIEL Group leads HR Innovation to emerge as a Complete HR Solutions Specialist
- CIEL Makes Strides in DEI with its group company, Jombay’s, ‘1000 Women Leaders Program’ and >50% women workforce
- CIEL Group Revenues grow at 37% y-o-y in Q1 of FY24 and aims to strengthen its Market Position with Significant Private Equity Investment
CIEL Group has reorganised itself over the last 3 quarters keeping in mind the changing realities of the market. From being a recruitment and staffing provider for the last many years, it has transformed itself into a holistic HR solutions specialist.
1) AI is profoundly influencing the HR & recruitment space, offering opportunities for integration at every stage of the employee life cycle. From validating candidate profiles to enhancing retention and managing separations, AI is poised to become an indispensable component of recruitment and HR practices. Recognising this trend, CIEL Group, a holistic HR services provider, has proactively shifted its focus towards HRTech. Q1 revenues generated from Consulting and HRTech lines of business constitute 35% of the Group’s overall GP.
2) CIEL has made significant strides in the Diversity, Equity and Inclusion (DEI) space, with the remarkable response to its group company, Jombay’s inaugural ‘1000 Women Leaders Program’. This has emerged as the largest women leadership program in India currently, where more than 1100 women in their mid-careers are undertaking a development journey to take on leadership roles soon.
3) Search, Selection, RPO and Staffing continue to create a significant social impact as more than 11,000 people have found career opportunities in Q1. Tech investments in these businesses have improved their efficiencies, delivered greater value to its customers and enhancing the experience of the candidates and temp employees by combining the Tech capabilities of the Group companies, Jombay and HfactoR.
Q1 FY24 Results:
Amidst the prevailing uncertainties, the Staffing and Recruitment industry maintains a neutral stance, allowing it to mitigate market disturbances effectively. Furthermore, the HR space is ripe with opportunities to embrace technology, enabling automation, improving efficiency, and reducing costs. CIEL’s unwavering commitment to technological innovation and market expansion has created a positive impact on its revenues, despite the ongoing economic situation.
“DEI plays a key role in creating a harmonious and high-performing workforce. Our aim is to help India Inc. increase Women’s participation in Leadership and Board level roles. This also reaffirms our commitment to cultivating diverse workplaces through our multifaceted initiatives, which include leveraging AI to eliminate bias in our processes and training future leaders of the country and empowering them to excel in their careers and emerge as impactful leaders,” says Aditya Mishra, MD & CEO at CIEL HR.
Mohit Gundecha, CEO of Jombay said, “Only 100 firms listed on the NSE have Women MDs or CEOs! The team at Jombay has been researching “What makes women leaders successful” and has built the 1000 Women Leaders Program curriculum to revolve around 5 mindsets crucial to ‘Leading like a Woman’ – Protagonist Mindset, Warrior Mindset, Maverick Mindset, Campaigner Mindset and Enterprising Mindset. We are excited to kick off this development program for the largest cohort of women professionals in India!”
Q1’24 has been a re-defining quarter for CIEL as it transforms into HR tech space with over 35% gross profits from HR tech and consulting businesses.
Key financial performance at a glance:
IPO, fundraise
With a keen focus on strengthening our market position and capitalising on emerging opportunities, CIEL Group has announced its plans to infuse a substantial investment of Rs 200 crore through private equity.
“This investment aligns perfectly with our IPO plans and reflects our strategic vision to expand our technology offering in the HR services space. We will acquire four new entities within the current fiscal year, utilising a substantial portion of the raised funds for these strategic acquisitions,” commented Mr. K Pandiarajan, Chairperson of CIEL Group. “By fortifying our market presence and investing in cutting-edge technologies, we are poised to provide superior services to our clients and create value for all our stakeholders.”
About CIEL Group:
CIEL Group is a holistic talent solutions provider, one destination for all your HR needs. We have been a reliable partner to clients of all sectors and sizes, in their growth journey. CIEL is led by the most experienced and talented workforce spread across 80 offices at 48 locations in India. CIEL Group includes brands like CIEL HR – India’s largest recruitment and staffing company in terms of geo-spread, Jombay – India’s largest Talent Assessment and Development platform, Integrum offering HfactoR, a unified HR Tech platform to manage end-to-end employee lifecycle in organisations, CIEL Technologies that offers Managed Services to optimise IT programmes, CIEL Skills and Careers that engages with various Government agencies as well as the CSR wings of corporates to mobilise students, train them ‘Job Ready’ and place them in meaningful jobs, Ma Foi Strategy that offers consulting services in the entire spectrum of HR, Growth, Payroll and Compliance areas. CIEL HR is India’s fastest growing HR services company (CAGR of 136% over the last 7 years), servicing ~400 companies across industry sectors for their Temporary staffing needs and 2600+ companies to find the right talent for their Permanent positions. It finds talent for companies in the industry sectors of Manufacturing, Energy, Infrastructure, IT & Outsourcing, Pharma, Financial Services, Consumer Products and Services. Over the last 8 years, CIEL has recruited 1,50,000+ people across levels and functions.
