HR (Human Resources) services company Ma Foi founders, K Pandia Rajan and Latha Rajan have re-emerged on the HR stage yet again. This time, they are back with the launch of CIEL HR Services, a new company that is going to focus on HR analytics. The company’s aim is to have a minimum conversion rate of 70 percent that is relatively more than the usual industry standard of 15 to 20 percent.
CIEL is going to have it’s headquarter in Bengaluru and will have double registrations as CIEL IT Solutions Pvt. Ltd. and CIEL HR Services Pvt. Ltd. These two companies carry out the same operational purposes, but they are registered individually in order to accommodate an individual clocking of the IT related revenues.
CIEL means sky in French and it will be based on Ma Foi’s core values. However, it will have work on a technology platform and a business model that is different. The founders of the company have a license to make use of the Ma Foi brand name till it is not applied to the businesses that rival with the Dutch multinational HR services company, Randstad. It is the Dutch company that now owns the brand created by the Rajans originally in the year 1992.
CIEL will introduce a new platform that will facilitate in the direct interaction of job seekers and potential employees. Mr. Rajan stated that CIEL will give priority to technology, engineering and verticals, BFSI, so as to provide services like staffing, selection, executive search, and managed HR services programs. However HR analytics will remain the core of their offerings and services.
CIEL also intends to work with the Central Government in a PPP manner through the overseas employment bureau concept of the government. Financially, CIEL is in plans to make revenue of Rs 10 crore this fiscal year ending March 2016. Of this, 20 percent is expected to be contributed by the IT services.
While the Rajans own 80 percent of the equity that is worth Rs 3 crore, the other 20 percent is owned by Mishra, who will be the CEO of the company and Santosh Nair, who will be the COO and Director of the firm.