Vijay Prakash – Blue Ocean – Jobs! Employment!! Career!!! Staffing Company
Yes we are happy to meet Mr Vijay Prakash Founding member & Director of Blue Ocean Personnel & Allied Services Pvt Ltd. A leading Staffing Company HQ in Chennai employing over 8,000 People across Auto, Electronics, Construction, IT, Finance, Green Energy & Environment, Healthcare & Hospitality Industries and creating impact in the Staffing Space. As part of our Industry leaders engagement we discuss more on what his enterprise is into and learn more on how they impact the Jobs & employability process.
How did you come up with the idea and why did you choose a Staffing Company?
Initially we started with HR consulting and hiring services. We saw a huge opportunity in organised staffing segment. Also, we thought it would provide more stability to our overall business.
Vijay Prakash Tell us everything about Blue Ocean, what does it do? What were the challenges of setting up and scale? How did you overcome them?
Blue Ocean is a human resource management company started in the year 2009. We are in the business of providing man power resource to organisations. Manpower staffing for manufacturing and industrial segments requires local presence for bridging the gap between the expectation of MNC employers and availability of local talent. Also, it requires a great amount of flexibility and customisation in terms of service offerings. This, we developed over a period of time with the extraordinary efforts of our core team, which we have successfully retained for the past 10 years.
How did you build the core team (co-founders and initial employees) – How did you meet and how did everyone align to the idea? What is the total team size and total staffs on your roles?
We were college Batchmates . After a small stint in working with other companies, Joined together and started this company. We have discussed a lot about entrepreneurship excellences during our college days which guided us to start something we are aligned with. The current team size is 100+ and the off-roll staffs we outsource is beyond 8000 resources.
Give us a background of your core team and yourself with the age.
The Chairman & Managing director of the company is Mr Vivek & the Executive Director Mr Arun . Both of them have varied industry exposure running logistics, software related companies as well. I , as a co-founding member and director of the company develop new business and run the operations of the organisation. We are all aged 37 .
What has been Revenue, traction and growth from the date of inception till now Mr Vijay Prakash?
What is the one thing that sets your Staffing Company apart from your competitors and what’s your revenue model?
Of several USPs we have Young & dynamic team we posses and customised services understanding every client’s unique requirements are some to mention. The core team of around 12 staffs has been travelling with us over the last 10 years on all ups and downs . We do not believe in having rigid processes and set solution for all our clients. We vary the frequency and the attributes of the services as per the client’s requirements.
Revenue model – We charge the client on monthly/daily rates for the resources we supply including the resource cost and our margins.
What are the unit economics and margins for a business like this how does the model work?
The margins are 8% on the gross wages of the employee on an average .Net margin worth up to 3-4%. The model’s success is derived from the volume of resources we outsource.
How are you funded?
Blue Ocean is own and Debt-funded .
What are the challenges from a hiring stand point and how do you overcome that?
Understanding the skill-gap while sourcing is the challenge. Resources with practical understanding of concepts and readiness in up-skilling themselves are preferred while we hire.
Do you really think there is a Skill Mismatch from a role prospective?
There are many firms who are not patient enough to find the right resources matching the roles they have. There has been a chaos in the last one decade when we study the trend of resources qualification and the skill comparing the job they do.
Your Future plans
We are focusing on high margin business that includes
- Production process outsourcing .
- Project Implementation (Telecom).
Also, We are into skill development planning & Implementation with NSDC & related Government initiatives.
What will be your suggestion to aspiring jobseekers?
Jobseekers must keep learning new trends & technology associated with their base skill . Confidence grows when one tries to achieve more skill and knowledge which will help them finding the right job.
Vijay Prakash, Finally your inputs for youngsters who are into HR Start Up’s?
HR start-ups can be very innovative these days with ever-changing dynamics and needs of the industry .We see plenty of opportunities in simplifying many age old processes that HR functions adopts. However, start-ups should have a clear focus on the deliverables and the domain they will be providing services for . New start-ups should also be open in adopting to new technologies over the conservative processes.
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