Turnover Rates High in Bpo
Introduction:
As per today’s scenario we are aware that India is witnessing a boom in BPO industry. With India being one of the favorites for outsourced business, the business of BPO’s has increased to many folds. The business which was worth $4 billion in 2004 rose to $65 billion in 2010 as per the research conducted by McKinsey & Company. It has given ample employment opportunities to Indian people. But this also showed the negative side of the business.
It has been said that it costs thrice as much to recruit a new employee than to keep an existing one. This can be very well understood by the current trends in BPO industry. It can be seen as a routine of any BPO firm where the hiring continues 24x7. All these costs of selecting and training people become a matter of concern for this kind of firms. A special team of HR people is dedicatedly meant for carrying out recruitment on regular basis. BPO’s not only recruit fresher from their own centers but they have also approached various consultancies to do them the favor on certain commission basis.
The purpose of this research is focused on to find out why the employees are leaving the organization and all the possible reasons why the companies are not able to retain their employees.
Review of Literature:
High employee turnover rate is problem and because of this many industries have been suffering from losses in term of money and trained mind as well. Many research have been conducted on these topic to find out all reasons behind high employee turnover rate and suggested different ways to deal with but we know because of globalization over market is dynamic and because of dynamism working environment is more pressurized and factor of turnover changes rapidly. To take industry as a whole many researches, articles, journals and books have been published like Dail Fields, Myra E. Dingman, Paul M. Roman and Terry C. Blum (2005), in their research report ‘Exploring predictors of alternative job changes’ in their
As per today’s scenario we are aware that India is witnessing a boom in BPO industry. With India being one of the favorites for outsourced business, the business of BPO’s has increased to many folds. The business which was worth $4 billion in 2004 rose to $65 billion in 2010 as per the research conducted by McKinsey & Company. It has given ample employment opportunities to Indian people. But this also showed the negative side of the business.
It has been said that it costs thrice as much to recruit a new employee than to keep an existing one. This can be very well understood by the current trends in BPO industry. It can be seen as a routine of any BPO firm where the hiring continues 24x7. All these costs of selecting and training people become a matter of concern for this kind of firms. A special team of HR people is dedicatedly meant for carrying out recruitment on regular basis. BPO’s not only recruit fresher from their own centers but they have also approached various consultancies to do them the favor on certain commission basis.
The purpose of this research is focused on to find out why the employees are leaving the organization and all the possible reasons why the companies are not able to retain their employees.
Review of Literature:
High employee turnover rate is problem and because of this many industries have been suffering from losses in term of money and trained mind as well. Many research have been conducted on these topic to find out all reasons behind high employee turnover rate and suggested different ways to deal with but we know because of globalization over market is dynamic and because of dynamism working environment is more pressurized and factor of turnover changes rapidly. To take industry as a whole many researches, articles, journals and books have been published like Dail Fields, Myra E. Dingman, Paul M. Roman and Terry C. Blum (2005), in their research report ‘Exploring predictors of alternative job changes’ in their
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