MoU with TalentSprint to improve HR productivity: ThinkSoft

In an interview with CNBC-TV18, AV Asvini Kumar, MD, Thinksoft Global Services, speaks about the MoU and gives his outlook going forward.

Below is a verbatim transcript of his interview with CNBCTV18's Reema Tendulkar and Ekta Batra. Also watch the accompanying video.

Q: Could you tell us a little more about this memorandum of understanding (MoU) that you have signed, maybe some sort of revenue, financial agreement that you have got into for this software training program? What's the kind of upside you see from this?

A: Basically, right now, it’s not a financial agreement. Right now, it’s got three objectives. One is to find ‘do it yourself’ approach to getting our own entry level talent is very high, in terms of campaigning for people searching, screening them, offering them, inducting them, training them, plus over 3 to 5 lakh per entry level person. So, we decided to have a more creative approach and said that okay we will create this talent and conjunction in somebody who is expert and train and then hire them rather than hire and train them. So, we have introduced this program which will make our HR department more productive to focus on leadership development and focus on training the existing people. 

Secondly, it is better quality for end user clients. So, we are going to try this by taking 200 people in the first year and then if it works out then we will scale it up. That’s in brief about this MoU.

Q: So could you tell us once you get in these 200 people what's the kind of revenue that you see per person and then how will you split up the revenue between the two partners?

A: Basically now it’s on the input side, it’s not on the revenue side. So, we just want to set our supply chain in order and get quality people at the entry level. And then if we succeed then we will scale it up, then only it will become revenue. So that will happen only after the first year. It’s more of an efficiency measure and quality measure and predictability measure which will ultimately lead to better customer satisfaction, we will be able to give them better people and we can pick from the market better people and we can be more efficient.

Q: Can you then just highlight what sort of capex the company is undergoing currently?

A: In general I don’t have the figures with me right now.