Aarvi Encon Limited Financial Overview

20 Staffing Industry aarvi. • Temporary/Flexi Staffing • Firms which retain workers & supply temporary workforce to other companies for specific assignments. This is the largest segment with a market share of 75% primarily because of pass through salary costs included in the revenue of such firms. The staffing industry in India has grown to an extraordinary level, especially in the area of a third-party payroll service provider. Over the past five years, the industry has grown at a rate of 20-25% per year, and it is not showing any signs of slowing down as yet. The staffing industry in India essentially provides a platform for recognized employment, work choice, reasonable compensation, annual benefits, and health benefits for the temporary workforce. Temporary or contract-based work is on the rise as many of the top talents are taking up freelancing or on contract jobs, in this process, staffing firms will play a pivotal role in easing the relationship between freelancers & their clients. According to a report from the Indian Staffing Federation, India to employ approximately 6.1 Mn flexi workforce by end of 2021, 1.53 Mn jobs will be through Flexi Staffing in next 3 years, Andhra Pradesh, Telangana, Haryana, Gujarat and Madhya Pradesh are high growth potential states for Flexi Customer • Benefits to Customers • • Flexibility in Workforce Plan Focus on Core Business • Compliance Efficiency . Budget Efficiency Hiring Niche Skillset . Ad hoc availability Benefits to Flexi Workers • • Appointment Letter Standardized Pay . Digital Payment Statutory Benefits . Insurance and Medical Benefits • Experience Gain • Skill Improvement Benefits to Government • Less Unemployment Revenue from GST • Increased Formal Employment Staffing companies hire workers and send them as flexi workforce to meet client requirements. Staffing companies take care of the salaries and benefits of these workers • Improved Compliance • Skill Improvement Customers signs agreement with flexi staffing companies where the later supplies flexi workforce Flexi Staffing Companies

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