Attrition in Bpo Industry: a Survey Report
ATTRITION IN BPO INDUSTRY: A SURVEY REPORT
Abstract
The BPO industry is undoubtedly considered as one of the biggest fields of employment in India and stands number two worldwide after Philippines. However, it is facing a phenomenal increase in attrition rate which is the biggest challenge. The current attrition rate is 55 %. (Source: 13 Oct, 2011, The Financial Express) as compared to the last year of 51%. Nasscom, in a report said that that the outsourcing industry is expected to face a shortage of 2, 62,000 professionals by 2012. This is owing to the fact that retaining manpower at mid and senior management levels, where there is a visible significant movement has become quiet challenging. The another interesting feature of this industry in that as the industry moves up and become a full scale BPO player, attrition rate will further decreases. In the study released by Associated Chambers of Commerce and Industry of India claimed that the high attrition is due to bad working hours and a perceived lack of long term growth. In this paper an attempt is being made to build a model which contributes to high attrition rate.
1. Introduction
HR professionals all over the world are breaking their heads to formulate Retention Strategies for employees working in Call-Center or Contact Center or BPO industry but nothing is working in their favor. No perks, no rewards, just nothing is working. Some of these factors are no growth opportunities, policies and procedures are not conducive, uneasy relationship with peers or managers, higher education etc.
Fundamental changes are taking place in the work force and the workplace that promise to radically alter the way companies relate to their employees. Hiring and retaining good employees have become the chief concerns of nearly every company in every industry. Companies that understand what their employees want and need in the workplace and make a strategic decision to proactively fulfill those needs will become the
Abstract
The BPO industry is undoubtedly considered as one of the biggest fields of employment in India and stands number two worldwide after Philippines. However, it is facing a phenomenal increase in attrition rate which is the biggest challenge. The current attrition rate is 55 %. (Source: 13 Oct, 2011, The Financial Express) as compared to the last year of 51%. Nasscom, in a report said that that the outsourcing industry is expected to face a shortage of 2, 62,000 professionals by 2012. This is owing to the fact that retaining manpower at mid and senior management levels, where there is a visible significant movement has become quiet challenging. The another interesting feature of this industry in that as the industry moves up and become a full scale BPO player, attrition rate will further decreases. In the study released by Associated Chambers of Commerce and Industry of India claimed that the high attrition is due to bad working hours and a perceived lack of long term growth. In this paper an attempt is being made to build a model which contributes to high attrition rate.
1. Introduction
HR professionals all over the world are breaking their heads to formulate Retention Strategies for employees working in Call-Center or Contact Center or BPO industry but nothing is working in their favor. No perks, no rewards, just nothing is working. Some of these factors are no growth opportunities, policies and procedures are not conducive, uneasy relationship with peers or managers, higher education etc.
Fundamental changes are taking place in the work force and the workplace that promise to radically alter the way companies relate to their employees. Hiring and retaining good employees have become the chief concerns of nearly every company in every industry. Companies that understand what their employees want and need in the workplace and make a strategic decision to proactively fulfill those needs will become the
Bibliography: 3. Mckeown J Leslie, “Retaining Top Employees”, Tata McGraw-Hill, 2002. 4. Hiring and Keeping the Best People, Harvard Business School Press, 2002. 5. Morison Robert, Dychtwald Ken, Erickson, Tamara J “Workforce Crisis”, Harvard Business School Press, 2006. 6