BPOs Bet On Staff Retention Ways Amid Competition, Attrition
According to executive search firm Mancer Consulting, attrition rates in the BPO/KPO sector has been above 30 per cent.
"In the last five years, India has lost one million jobs in the customer contact business to countries like the Philippines. Over 40,000 jobs were lost to Egypt itself in the time period 2008-2013," it said.
As per the consulting firm, India's BPO/KPO sector currently employs a workforce of 1.98 million directly and 7.5 million indirectly.
One of the reasons cited for BPO jobs moving away to foreign shores such as Philippines is rise in Indian salary levels.
"From past few years Indian BPO industry is facing stiff competition from BPO service providers in Philippines, Ireland, Brazil, Canada and Poland and one of the reason is that these countries are able to provide cost effective alternatives," Mr Gupta said.
Experts also felt that major challenge faced by BPO industry would be to recruit, motivate, reward and develop talent in their ranks.
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