In your interest.
Online Personal Finance Magazine
No beating about the bush.
Kronos, which started its operations in the domestic market nearly three years back, plans to increase the number of its customers in India to 300 from 35 at present
US-based player in work force management, Kronos Systems, has chalked out business plans to grow its footprint in the domestic market, primarily focusing on manufacturing and service industries, a top official has said.
"We are looking for at least a 10-fold growth over the next three years. This will be done through innovative business models and aggressive client acquisition," Kronos System's chief executive officer (CEO) Aron Ain told PTI.
The company, which started its operations in the domestic market nearly three years back, plans to increase the number of its customers in India to 300 from 35 at present, Mr Ain said.
According to Mr Ain, the country's workforce management industry is still in an evolving stage and is expected to grow to a $100-million business over the next few years.
The company, which has sold over one lakh licenses in India, has around 30-35 big companies as its clients here presently, he said.
A work force manager helps firms to manage operational costs without downsizing the employee strength, Kronos' country manager James Thomas said.
"Normally when a company needs a cut in its operational costs, they trim the work force. But through our system, we can downsize the operational cost by stopping leakages in the salaries instead of trimming the employees," Mr Thomas said.
Compared to developed economies, the country's work force management industry is yet to open up, Mr Thomas said.
"In India, so far, only 10% of this sector is opened up. Compared to the developed world, where workforce management is one of the top priorities, India has to be educated about it," Mr Thomas said.
According to Kronos' data, more than 35 million workers from various companies worldwide are managed by Kronos' workforce management systems.
Elaborating on its growth strategy in the country, Thomas said that Kronos will be focusing on firms from industries like manufacturing, IT-BPO, retail and healthcare sectors, primarily.
The method Kronos uses to manage the workforce of firms enables those companies to compensate their employees according to their performance, he said.