DALLAS and HYDERABAD, India, June 14, 2017 (GLOBE NEWSWIRE) -- Recruit KARMA, an online recruiting service that aims to connect US-based small and midsize businesses with software and engineering-related professionals in India, launched today with $1.55 million in seed funding from angel investors, friends and family. The Recruit KARMA service is being demonstrated this week at HR Tech World in San Francisco by founder/CEO, Luke Walton.
It’s common knowledge that India is one of the best places in the world to hire skilled talent, but access to these candidates for US businesses has, for the most part, been reserved for large multi-national corporations. Recent changes to the H-1B visa program had the intent of forcing companies to train Americans to fill technical positions, but if anything, the new laws may force companies to explore options outside the US even sooner.
“There is a big difference between closing a factory in the US and opening another in Mexico, and hiring technical talent abroad because we don't have the resources at home,” said Walton, who spent the last three years running a recruitment-focused business in India. “We see this as a win-win opportunity for Western employers to reduce salary costs by as much as 90% in certain roles, while at the same time giving Indian candidates a new option for remote employment with competitive salaries offered by foreign companies.”
This year, India will surpass the US as the country with the most software developers in the world. The Indian higher education system is one of the largest with over 27 million students currently enrolled across the country, and contrary to students in the US, 16.5% of students in India study engineering. With over 1.3 billion people and a median age of 25 years old, “hiring employees in India is a choice today, but in a few short years, it will become a necessity for companies of all sizes from around the world,” said Walton.
Why Recruit KARMA?
While the biggest US companies have for years had access to the Indian talent market, smaller companies have mostly been left out due to “hesitation of the unknown” and the heavy fees charged by large staffing firms and consultants.
Recruit KARMA is attempting to “level the playing field” for US-based SMBs by making Indian software and engineering talent accessible and affordable. Within 30 days and for less than $1,000, Recruit KARMA will connect US companies to a shortlist of qualified candidates, provide background checks, negotiate contracts, create offer letters and handle compensation. The company has access to over 54 million resumes from the most active job portal in India. On average, Recruit KARMA expects its users will save well over 60% compared to the cost of hiring US workers for the same roles.
Recruit KARMA is launching with four primary services: India Business Consulting, Premium Pre-screening, Background Checks and Payroll Services:
- India Business Consulting (project based pricing) – Recruit KARMA will provide a soup-to-nuts service for US companies looking to begin or expand their business in India, including market research, marketing strategy, entity set-up and contract negotiations.
- Premium Pre-screening ($799) – This 30-day service includes a dedicated Recruit KARMA recruiter in India, who will help companies fill a position or positions, interview candidates, and forward the best resumes from candidates who meet specific job qualifications. This service also includes one-hour of consultation with Recruit KARMA’s expert India Business Consulting team, three candidate background checks, and one month of employee payroll services.
- Background Checks ($35) – Recruit KARMA will perform a thorough background check, including identity, education, past work experience and criminal verifications for candidates sourced through its system.
- Payroll Services ($75/month/salary) – Recruit KARMA customers can pay their Indian hires via credit card or online bank pay to US accounts. Recruit KARMA guarantees compliance, provides all legal documents to both parties, and handles distribution of salaries to Indian employees. This includes international wire transfer fees.
“We think Recruit KARMA will be a very attractive option for startups, small and midsize businesses, and divisions of larger companies that recognize the tremendous value and cost-savings potential provided by Indian talent,” said Walton. “The biggest benefit of using Recruit KARMA is the security and familiarity of working with an American company that specializes in Indian business matters. We help our clients unlock the value of India, answer the unknowns, and reduce the risks of fraud and overpayment because we are already embedded in the Indian market. We do all of this at a much lower cost than our competitors, and with a much faster turn-around time.”
About Recruit KARMA
Recruit KARMA is an online recruiting service that aims to help US small to midsize businesses “unlock the value of India.” Its team of experienced, local business and recruiting experts provide a range of services, from consulting and candidate screening to background checks and payroll. More information about Recruit KARMA can be found at www.recruitkarma.com.