FAT pay packets alone can’t stem attrition in the BPO industry. The industry offers better career prospects and higher education to have a stable workforce.
Firms are offering higher education programmes to control attrition which is over 28 %. Some BPOs are forging ties with educational institutes for offering customised training programmes, many are sponsoring higher education in line with the employees’ choice. U21 Global marketing V-P Danesh Daryanani says education is the most effective tool to satiate a person’s aspirations. “Most employees leave company due to monotonous work and lack of growth opportunities. These programmes help build a middle-level management within the existing workforce, as talent crunch is the greatest challenge faced by BPOs,” he said.
Genpact has tied up with universities in Rajasthan, Delhi and Andhra Pradesh, besides management institutes, including IIMs and XLRI, for of-feringeducationalprogrammes. “Considering that minimum qualification required for some of our voice-based operations is class XH, it is our duty to provide them an opportunity to study further. Our partnership with universities has helped us design a part-time degree course for these employees, who constitute 5% of our workforce,” Genpact senior V-P Sanjay Goel told ET.
The company is looking at expanding educational partnerships. While the company’s average attrition rate is about 14%, attrition rate among employees enrolledforsuch programmes is less than3%. “Of the 19,000people employed by the company, 5,000 have enrolled for various courses,” Mr Goel said.
A McKinsey report had projected that there would be a shortfall of half-a-miilion people in BPO industry by 2008. The sector employs over four lakh. It is helping firms bring down attrition-related cost, which is as much as over 70% of the annual salary costs for voice-based processes.
24X7 Customer has tied up with a management institute for customised programmes. According to Pradeep Narayanan, chief delivery officer ol the programme, in the last two years, none of the employees who are part of the programme had left the firm, while the company’s average attrition rate is about 25%. Over 350 employees in India have undergone these programmes.
ADP India staff have the advantage of choosing the programme and institute. “We don’t want to impose restrictions, though we encourage them to opt for part-time courses offered by reputed institutes. We offer funds to the tune of Rs 1.5 lakh,” says director B Baiaji.
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