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Cost Savings in mind, India Inc banks on Referrals, Internal Job ...

5-billion company has found candidates who join through the referral programme stay on longer, especially at senior levels, than those who join through other recruitment modes. Three years ago, 70% to 75% of hiring was done with the help of consultants, but last year, their share dropped to about 30%, says HR & MS head Umesh Dhal. Fourth largest IT employer Cognizant Technologies has increased hiring through referrals by 15% in the past three years. Firms like LG, which were once heavily dependent on recruitment firms, have also changed their strategy....

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