Released on: January 5, 2008, 12:03 am

Press Release Author: Aditya Kumar

Industry: Human Resources

Press Release Summary: Yellojobs.com, India's referral recruitment network, has
conducted an online survey covering thousands of jobseekers in India to understand
the real reasons behind why people quit. Yellojobs.com is a joint venture between
Singapore-based online advertising company Yello Pvt. Ltd, and London-headquartered
recruitment company Contact Recruitment Ltd, which has a strong presence in India.


Press Release Body: Yellojobs.com, India's referral recruitment network, has
conducted an online survey covering thousands of jobseekers in India to understand
the real reasons behind why people quit. Yellojobs.com is a joint venture between
Singapore-based online advertising company Yello Pvt. Ltd, and London-headquartered
recruitment company Contact Recruitment Ltd, which has a strong presence in India.


Yellojobs.com is not based on a subscription model, whereby instead of advertising
for job opportunities, companies need to pay per successful hiring on the site. A
referral fee of Rs 5,000 is then paid by the company to anyone who refers a
candidate for the job, upon the completion of the latter's defined "Retention
period" on the site. This model is unlike other job portals where companies have to
pay initially for the advertisements on job portals, irrespective of results.


Yellojobs.com also provide unique facilities for jobseekers like application
history, referral history, photo resumes, networking tools, professional endorsement
tools, career blogs, boot camp and more.


Commenting on the online survey, Vikramjit Singh Sahaye, GM (India), Yellojobs.com
Pvt. Ltd, said, "Employee retention activities are increasingly gaining centre stage
as compared to fresh recruitments. Retaining talent not just makes commercial sense,
but also helps improve project efficiencies and build a desirable brand value for
the future. Compensating employees for referring good candidates is also becoming
exceedingly rewarding both for referrers and employers."


The survey highlights that over 70 per cent of top IT & BPO companies face attrition
in excess of 20%.


According to the survey, which was conducted among professionals irrespective of the
career span, monetary gains are not the only reason for people changing jobs. Forty
two per cent employees stated that they changed jobs due to non co-operating and bad
superiors, 34 per cent said that they had left their previous job as the
organisation could not provide any further growth and remuneration; while
uninteresting job profile, office politics and work environment were the other
reasons cited for changing jobs.


Among those who participated in the online
survey, 56 per cent claimed to have switched their jobs in the past and 10 per cent
of those respondents claimed to have switched jobs more than four times. In a bid to
attract good resource pool, Yellojobs.com has also introduced "YelloRewards", where
people could earn cash rewards up to Rs 60 crore in total for simply referring jobs
to friends from the site. Yellojobs.com has posted over 65,466 available positions
in leading companies like Aricent, Avaya, Accenture, Blue Star, Bajaj, Britannia,
Convergys, CSC, Crompton Greaves, Cadence, Fortis, Global Vantage, Genpact, HCL,
Hewitt, Jindal, JCB, MaFoi, NDTV, Nestle, Oracle, Neilson, Vatika, Webex, Wipro and
others, all of which have subscribed to Yellojobs.com.
Sahaye added, "Companies are willing to pay a premium for getting good candidates.


Yellojobs.com allows companies to place their job openings for free, and in return
offer a cash incentive, called YelloRewards, to those who recommend others
succesfully. Yellojobs.com has over Rs 60 crores as YelloRewards, which people can
get by recommending their friends for jobs."


For further information on Yellojobs.com, contact Aditya Kumar at
aditya.kumar@yellomedia.com or call at 9311134444.


Web Site: http://yellojobs.com

Contact Details: A-27H, Sector-16, Noida, UP-201301, India