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 the project. The information was given by the BPO employees with the condition to keep their name’s confidential.
For the purpose of the study the following Research Methodology was adopted.
To know the present status of attrition in India.
To develop an understanding for reasons of Attrition in Indian BPO Industry. To observe the type of costs associated to attrition in the Indian BPO industry. To give a suggestive measure to solve the problem.
Sample: - This study uses primary data collected from the BPO employee’s in Mumbai. The stratified sampling method was used to identify the respondents from various BPO for the purpose of study.
Sample frame: - The sample frame was Mumbai.
Sample size:-The sample size is 200 employees. The constitution is as given below –
DESIGNATION OF RESPONDENTSNUMBER OF RESPONDENTS
Other Employee [Associates, Executives and Analyst]150
TOTAL NUMBER OF RESPONDENTS200
Instrument of data collection: - questionnaire
Primary data: - The primary data is collected with the help of a questionnaire and observation method.
Secondary data: - Secondary data is collected by means of – HR policies and other relevant HR documents
Exit interview form
Books relevant to the topic
The time constraints have not allowed to reciprocate with the sample selected elements due to which the data presentation has got restricted. It is assumed that respondents have answered the questionnaire what they consider as truth.
FINDINGS AND INTERPRETATIONS
ANNEXURE 1 [Questionnare]
DESIGNATIONNUMBER OF RESPONDENTS
Early AttritionMid AttritionLate Attrition