“a Study of Bpo Industry with Reference to Employee Attrition and Retention”
“A STUDY OF BPO INDUSTRY WITH REFERENCE TO EMPLOYEE ATTRITION AND RETENTION”
Introduction
The study deals with attrition issue in BPO, the reasons of attrition and retention strategies for the same.
Experts point out that continued high growth in an industry can be an issue because it strains systems and governance processes that needs time to mature and to be institutionalized. The IT enabled services (ITES) and Business Process Outsourcing (BPO) constitute the fastest growing industry in India and is facing the above mentioned problem.
Business Process Outsourcing (BPO) is likely to be the next big thing for services in this decade. The industry is very diverse, with several sub-segments, each displaying its own unique characteristics. The BPO players need to be excellent in every facet of operations as the market is highly competitive at every level and re-defining itself every day. It is basically a people-centric industry.
The scenario however, is not as rosy as it looks, for this sector with enormous potential. Like any other industry during its growth phase, this industry is also going through its share of turbulence.
There was the issue about people quitting the BPO jobs and the question arrived in my mind were: “Why do BPO executives job-hop so frequently? Is it just because of money or are there other reasons? and created an interest in my mind to find out the answers not only for the above questions but also for finding out the retention strategies that can be adopted by BPO’s.
SCOPE OF THE PROJECT
For the purpose of this project, the research work is limited to only 10 BPO’s in Mumbai and their 200 employees. It was very difficult to study the industry as a whole as the size of the industry is very large and it is very difficult to extract information about the attrition rates and reasons for the same and also the strategies adapted by different companies to retain its staff in limited time period given for completion of
Introduction
The study deals with attrition issue in BPO, the reasons of attrition and retention strategies for the same.
Experts point out that continued high growth in an industry can be an issue because it strains systems and governance processes that needs time to mature and to be institutionalized. The IT enabled services (ITES) and Business Process Outsourcing (BPO) constitute the fastest growing industry in India and is facing the above mentioned problem.
Business Process Outsourcing (BPO) is likely to be the next big thing for services in this decade. The industry is very diverse, with several sub-segments, each displaying its own unique characteristics. The BPO players need to be excellent in every facet of operations as the market is highly competitive at every level and re-defining itself every day. It is basically a people-centric industry.
The scenario however, is not as rosy as it looks, for this sector with enormous potential. Like any other industry during its growth phase, this industry is also going through its share of turbulence.
There was the issue about people quitting the BPO jobs and the question arrived in my mind were: “Why do BPO executives job-hop so frequently? Is it just because of money or are there other reasons? and created an interest in my mind to find out the answers not only for the above questions but also for finding out the retention strategies that can be adopted by BPO’s.
SCOPE OF THE PROJECT
For the purpose of this project, the research work is limited to only 10 BPO’s in Mumbai and their 200 employees. It was very difficult to study the industry as a whole as the size of the industry is very large and it is very difficult to extract information about the attrition rates and reasons for the same and also the strategies adapted by different companies to retain its staff in limited time period given for completion of