TeamLease Services

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TeamLease Services Limited
Traded as
ISINTemplate:ISIN
IndustryRecruitment and Human Resources Services
Founded2 February 2000
Founder(s)Manish Sabharwal
Ashok Reddy
HeadquartersBengaluru, Karnataka, India
Number of locations
9
Number of employees
3,19,030[1]
Websitegroup.teamlease.com

TeamLease Services Limited is an Indian recruitment and human resources services company established in 2000 with its headquarters in Bengaluru, Karnataka.[2] The company operates nine offices across India, with locations in Bangalore, Mumbai, Pune, Delhi, Ahmedabad, Kolkata, Hyderabad, Chennai, and Bhubaneshwar.[3] It is publicly traded on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).[4]

TeamLease is involved in various sectors, including training, staffing, and other HR services. It also runs a Vocational University and the National Apprenticeship program. It is a Fortune India 500 company.[5]

History[edit | edit source]

In the year 2000, TeamLease was established under the name India Life Chakravarti Actuarial Services Private Limited[4] by its founders, Manish Sabharwal and Ashok Reddy.[6] The company later changed its name to TeamLease Services Private Limited in 2002.[2]

By 2006, TeamLease had a workforce of over 30,000 associates. In 2009, the company secured funding amounting to $500 million.[7] In 2010, TeamLease made an acquisition, taking over IIJT, an IT company based in Navi Mumbai with a network of 120 centers across India.[2] In 2011, the company received investments worth $250 million and became a founding member of the Indian Staffing Federation, an organization for India's Flexi staffing sector.[8][9][10]

TeamLease established a partnership with the Government of Gujarat to set up a private university.[11] This collaboration led to the establishment of TLSU as a university under the Gujarat Private Universities Act in 2013.[11][12] Classes at the university commenced in 2014.[13] TeamLease also initiated a project involving a partnership between the public and private sectors for apprenticeship (NETAP).[14]

In 2015, the company rebranded itself to TeamLease Services Limited and became a public company.[4] It operates from nine regional offices and employs around 2.82 lakh people.[15] TeamLease holds a 6 percent market share in the domestic flexi-staffing industry.[16][2] In 2016, TeamLease raised Rs 190 crore by issuing shares to 15 anchor investors, including Goldman Sachs and Merrill Lynch.[17][2]

Acquisition[edit | edit source]

In 2016, TeamLease expanded its business into the IT staffing sector by purchasing ASAP Infosystems[18] and Nichepro Technologies for Rs 67 crore and Rs 29.5 crore respectively.[19] These companies were later integrated into TeamLease's Digital division.

In January 2017, TeamLease completed the purchase of Keystone, acquiring 100 percent of its shares for ₹8.2 crores in cash through TeamLease Staffing, a wholly owned subsidiary of TeamLease.[20]

During the same year, TeamLease entered the Telecom staffing domain by acquiring Evolve Technologies[21] and also obtained a 40% stake in Schoolguru.[22]

In November 2021, TeamLease increased its ownership stake in Avantis to 61.5% and rebranded it as TeamLease Regtech.[23] The company also rebranded Schoolguru as TL EdTech, Avantis as TL RegTech, and E-Hire as TL HRTech.[22]

Subsidiaries[edit | edit source]

  • TeamLease Digital
  • Keystone Business Solutions
  • TeamLease Education Foundation
  • TeamLease Skills University
  • TeamLease HRTech
  • I.M.S.I Staffing
  • TeamLease EdTech (formerly known as SchoolGuru Eduserve)
  • TeamLease Regtech

Petition[edit | edit source]

In 2015, TeamLease Services, together with a consortium of 500-plus companies, submitted a petition to the Ministry of Labour and Employment. The petition sought to grant employees the ability to have a say in determining their salary payment methods.[24]

Awards and achievements[edit | edit source]

References[edit | edit source]

  1. ↑ "Q4 FY24 - TeamLease" (PDF). Archived (PDF) from the original on 8 July 2024. Retrieved 8 July 2024.
  2. ↑ 2.0 2.1 2.2 2.3 2.4 Sengupta, Hindol (9 January 2017). "The work processors". www.fortuneindia.com. Retrieved 12 October 2023.
  3. ↑ "Working in Delhi? Your risk of getting fired from job is the highest". The Economic Times. 15 June 2017. ISSN 0013-0389. Retrieved 13 August 2024.
  4. ↑ 4.0 4.1 4.2 "TeamLease flowered in Bengaluru because it's a city of ideas: founders". The Times of India. 21 June 2017. ISSN 0971-8257. Retrieved 12 October 2023.
  5. ↑ "Fortune India 500 Ranking | Fortune India". www.fortuneindia.com. Archived from the original on 16 September 2017. Retrieved 12 October 2023.
  6. ↑ "How Resisting Takeover Bids Paid Off For TeamLease". Forbes India. Retrieved 7 October 2023.
  7. ↑ "TEAMLEASE Company History". Dynamic Levels. Retrieved 12 October 2023.
  8. ↑ "IT, e-commerce and logistics drive flexi-staffing in India, says industry federation". Moneycontrol. 15 March 2022. Archived from the original on 18 October 2023. Retrieved 12 October 2023.
  9. ↑ "People Matters - Interstitial Site — People Matters". www.peoplematters.in. Archived from the original on 18 October 2023. Retrieved 12 October 2023.
  10. ↑ "Temporary hiring jumps over 10% as festive season approaches". Business Today. 13 September 2019. Archived from the original on 18 October 2023. Retrieved 12 October 2023.
  11. ↑ 11.0 11.1 "TeamLease Skill University, Labour Ministry sign MoU to expand apparenticeships in India". Business Standard. Retrieved 12 October 2023.
  12. ↑ "TeamLease Skill Univ, govt partnership to create 5 lakh apprenticeships". BusinessLine. 19 February 2015. Archived from the original on 18 October 2023. Retrieved 12 October 2023.
  13. ↑ "Coming Soon: India's first 'skills university'". Rediff. Retrieved 12 October 2023.
  14. ↑ "TeamLease Skills University gets provost, to start academic year". The Times of India. 7 June 2014. ISSN 0971-8257. Retrieved 12 October 2023.
  15. ↑ Dhanjal, Swaraj Singh (14 December 2015). "Teamlease gets Sebi nod for IPO". mint. Retrieved 12 October 2023.
  16. ↑ "TeamLease Services Report" (PDF). HDFC Security. Archived (PDF) from the original on 18 October 2023. Retrieved 12 October 2023.
  17. ↑ "TeamLease Services raises Rs 190 crore by selling shares of 15 anchor investors". The Economic Times. 1 February 2016. ISSN 0013-0389. Archived from the original on 15 November 2023. Retrieved 12 October 2023.
  18. ↑ "Staffing and Recruiting Company Teamlease Acquires IT Staffing Startup Asap Info Systems". Inc42 Media. 4 July 2016. Archived from the original on 18 October 2023. Retrieved 12 October 2023.
  19. ↑ "TeamLease up 4% on acquisition of Bangalore-based IT staffing co". Moneycontrol. 21 September 2016. Retrieved 12 October 2023.
  20. ↑ "Staffing Firm Teamlease Reports 132 Percent Increase In Quarterly Profit". Forbes India. Archived from the original on 18 October 2023. Retrieved 12 October 2023.
  21. ↑ Nanda, Prashant K. (17 October 2017). "TeamLease to acquire staffing company Evolve Technologies". mint. Retrieved 12 October 2023.
  22. ↑ 22.0 22.1 "TeamLease Services Report" (PDF). HDFC Security. Archived (PDF) from the original on 18 October 2023. Retrieved 12 October 2023.
  23. ↑ www.ETHRWorld.com. "TeamLease Services increases its stake in Avantis Regtech to 61.5% and renames company to TeamLease Regtech - ETHRWorld". ETHRWorld.com. Archived from the original on 29 September 2023. Retrieved 12 October 2023.
  24. ↑ "Staffing company TeamLease Services along with 500 firms write to govt over salary payments". The Economic Times. 6 January 2015. ISSN 0013-0389. Archived from the original on 8 July 2024. Retrieved 8 July 2024.
  25. ↑ "TeamLease Services awarded 'Samman Patra'". One India. Retrieved 12 October 2023.
  26. ↑ "TeamLease Services Limited" (PDF). BSE India. Retrieved 12 October 2023.
  27. ↑ "TeamLease: Putting India to Work (Il) Legally - Case - Faculty & Research - Harvard Business School". www.hbs.edu. Retrieved 12 October 2023.
  28. ↑ Mitra, Moinak (18 June 2011). "How case studies from India are being taught at Harvard Business School". The Economic Times. ISSN 0013-0389. Retrieved 12 October 2023.
  29. ↑ "TeamLease Services Honored By EPFO For Empowering Women In India". Archived from the original on 18 October 2023. Retrieved 12 October 2023.

External links[edit | edit source]

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