About the Company
Teamlease Services was originally incorporated as a private limited company, under the Companies Act, 1956 on February 02, 2000 with Registrar of Companies, Mumbai, Maharashtra, India, under the name India Life Chakravarti Actuarial Services Private Limited in Mumbai, India. The name of the company was changed to Team Lease Services Private Limited and a fresh certificate of incorporation consequent upon change of name was issued on January 24, 2002. The company was converted into a public limited company on May 15, 2015 and the name of the company was changed to Team Lease Services Limited and a fresh certificate of incorporation was issued on May 15, 2015. Subsequently, the name of the company was changed to TeamLease Services Limited and a fresh certificate of incorporation was issued on July 24, 2015.
The company’s core business is providing staffing solutions across industry sectors and diverse functional areas. The majority of its Associate Employees are engaged in sales, logistics and customer service functions. It focuses on people, processes and technology to enhance business productivity by enabling its clients to outsource their staffing requirements and allowing them to focus on operating and growing their core businesses. The company is managed professionally by a high quality management team with deep extensive market and industry expertise, exhibiting thought leadership on matters of public policy.
The company has provided services under the TeamLease brand for more than ten years and IIJT brand for more than five years. The company has grown largely organically, driven by its strong operational and technological excellence. From time to time it also identify and complete acquisitions to improve operational synergies, acquire new clients or enter new sectors.
Business area of the company
The company is one of India’s leading providers of human resource services in the organized segment delivering a broad range of human resource services to various industries with a vision of putting India to work. It delivers a broad range of human resource services to various industries and diverse functional roles across India to meet the needs of small and large business clients as well as those of qualified job seekers or “Associate Employees”. The company’s services span the entire supply chain of human resources in India, covering aspects of employment, employability and education. Its employment services include temporary staffing solutions, permanent recruitment services and regulatory consultancy for labor law compliance; its employability offerings include different types of learning and training solutions, including retail learning solutions, institutional learning solutions and enterprise learning solutions. All of its businesses operate on an asset-light model with low capital expenditure requirements.
Major events and milestones
- 2000: The company was incorporated as India Life Chakravarti Actuarial Services.
- 2002: The name of the company was changed to Team Lease Services.
- 2005: Reached turnover of Rs 1,000 million for the year ended Mar 31, 2005.
- 2006: Reached 30,000+ associates on the company’s rolls.
- 2008: The company’s presence was spread across multiple locations.
- 2009-2010: GCIF, GAPL and GIL made investments of Rs 500 million in the company.
- 2010: Acquired IIJT.
- 2011: Co-founded the ‘Indian Staffing Federation’ to professionalise the Indian staffing industry.
- 2011: GCIF, GAPL, GIL made second round of investments of ` 250 million and IAF made investments of Rs 750 million in the company.
- 2011: The company entered into a memorandum of understanding with the Government of Gujarat to establish a private university.
- 2013: TLSU was established as a university under the Gujarat Private Universities Act.
- 2014: Classes for TeamLease Skills University commenced.
- 2014: Established public private partnership project for apprenticeship (NETAP).
Awards and accreditations
- 2007: Awarded as the top tax payer for the Fiscal 2005-06 on Central Excise Day by Office of the Chief Commissioner of Central Excise, Bengaluru Zone, Ministry of Finance, Department of Revenue, Government of India.
- 2009: Awarded the ‘Samman Patra’ for outstanding revenue performance in the Bengaluru Central Excise Zone for the year 2007-08 by the Office of the Chief Commissioner of Central Excise, Bengaluru Zone, Ministry of Finance, Department of Revenue, Government of India.
- 2009: The London School of Economics published a case study in relation to the company titled ‘Concept Arbitrage in India’.
- 2010: The Harvard Business School published a case study in relation to the company titled ‘TeamLease Putting India to Work (II) Legally’.
|Parent Organization||TeamLease Services Ltd.||Managing Director||Ashok Reddy|