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Will You Add? - BPO Industry in India - A Report
As a cleaning company we get called in to carry out builders cleans on new builds and refurbishments. Time and time again what we see is that the designer has had something built, laid or put in place solely on the grounds that it looks good with no regard as to how it will stand up to use or the practicalities of trying to keep it clean and looking good. They produce their design, see it through to the finish and then walk away. Only later does it become apparent that it is completely impractical from a cleaning point of view but they do not seem to learn from their mistakes because the same ones keep being repeated.Let us take some classic examples. Car showrooms are a prime example. Car dealers require a nice environment to show of their brand new cars. So what do you need? A large rectangular space in which to fit the cars. Large windows so that the cars can be viewed easily by passers by. Clean freshly painted walls with some nice pictures placed strategically. A potted plant or two. Modern desks for the sales people. Some colourful stands advertising the products interspersed between the cars. All pretty standard and nothing exceptional to allow the designer to soar into the realms of artistry.One thing however is missing from this list and that is the flooring. Now it is here that the designer has something to get their teeth into. What do they come up with? Bright, shiny, white or cream floors in ceramic tiles. This is really good, because the light coloured shiny floors set the cars off really well because the majority of them are in relatively dark colours. So in the building or refurbishment programme this is the type of flooring detailed and once laid and cleaned it looks marvellous. Then they start to bring the cars in and the customers walk in and then the trouble starts. Invariably the cleaners are blamed for not cleaning properly. The tiles are smeary, or the trye marks are not being removed, water marks are being left and so the complaints go on.What is actually happening is that oil and fuel spillages occur, even small amounts are sufficient to create problems. Tyre marks are left on the tiles and new tyres are coated wi
Regular Get together and other cultural programs: The companies organizes cultural program as and when possible but most of the times, once in a quarter, in which all the employees are given an opportunity to display their talents in dramatics, singing, acting, dancing etc. Apart from that the organizations also conduct various sports programs such as Cricket, football, etc and regularly play matches with the teams of other organizations and colleges.
Wedding Day Gift: Employee is given a gift voucher of Rs. 2000/- to Rs. 7000/- based on their level in the organization.
Employee Referral Scheme: In several companies employee referral scheme is implemented to encourage employees to refer friends and relatives for employment in the organization.
Paid Days Off
Maternity Leave
Employee Stock Option Plan
Inspite of all these benefits, the attrition rate in BPO industry is very high, why?. What is the reason for an employee to leave? These and many more are the questions that need immediate attention from the industrial gurus.
Why people prefer to join BPO's?
In general a person with any graduation can join any of the BPO. Some BPO's like to take people with MBA but then again the specialization are of an individual hardly makes any difference. Again, this is the industry, where there is no reference checks and very often people don't even specify there exact age. Lets me share with you some of the reasons as why people prefer to join a BPO:
Did not get a better job.
Find nothing better to do.
Education level doesn't matter
Good work environment
Good Benefits
Flexibility of time
Attractive life style
Transport facility
Why people leave the BPO's?
When there are so many benefits associated with BPO industry….when there are so many privileges for the BPO employees than what makes them to change the company/industry?? Is it only MONEY that matters or anything else as well?? Here are some of the reasons for a BPO professional to change his/her job.
No growth opportunity/lack of promotion
For higher Salary
For Higher education
Misguidance by the company
Policies and procedures are not conducive
No personal life
Physical strains
Uneasy relationship with peers or managers
What they have to say?
With so much of uncertainty in the market…..people are trying their best to stop or to at least have a control on the attrition rate…let me share with you the opinion of the real gurus of the industry.
"Training is a very important aspect of the ITES-BPO industry"- Mr. Arjun Vaznaik, COO, Tracmail
" Career growth in the industry is robust and there is a long-term opportunity. The great growth momentum that the industry is witnessing is creating both vert
Investors, like the rest of us, have different tastes. One investor may love a concept and/or business plan while the next may hate both. It is important to understand this as business plans are working documents and are always undergoing iterations.Management teams must not rush to incorporate each potential investor’s comments. Instead, have several investors, partners and other business colleagues review the plan and provide feedback. Then incorporate common concerns and probe other comments to determine if they are valid.Always try to understand the rationale behind an investor’s comments. For instance, an investor may poke holes in a business plan if it doesn’t have enough funds to fully fund the opportunity. In this case, the investor’s criticism is solely for them to save face.However, if you are hearing the same feedback from multiple investors, it is probably valid. In such cases, be humble. Tell investors that you appreciate their feedback and modify your strategy and plan appropriately. You may then be able to re-approach these investors with great success.Many investors have significant operating and investing experience and can quickly and expertly find potential flaws in a business plan. Seek out investors who have such experience, and be open to their suggestions. Just don’t take one point of feedback and blindly follow the advice. It is also important to note that even the most successful and largest public companies have Boards that provide similar feedback and advice, so don’t take criticism and feedback as a sign that something is wrong with your venture. Rather, use it as a launching pad for an even stronger business.
Business Process Outsourcing (BPO) is the delegation of one or more IT-intensive business processes to an external provider that in turn owns, administers and manages the selected process based on defined and measurable performance criteria. Business Process Outsourcing (BPO) is one of the fastest growing segments of the Information Technology Enabled Services (ITES) industry.
Few of the motivation factors as to why BPO is gaining ground are:
Factor Cost Advantage
Economy of Scale
Business Risk Mitigation
Superior Competency
Utilization Improvement
Generally outsourcing can be defined as - An organization entering into a contract with another organization to operate and manage one or more of its business processes.
Different Types of Services Being Offered By BPO's
Customer Support Services
Our customer service offerings create a virtual customer service center to manage customer concerns and queries through multiple channels including voice, e-mail and chat on a 24/7 and 365 days basis.
Service Example: Customers calling to check on their order status, customers calling to check for information on products and services, customers calling to verify their account status, customers calling to check their reservation status etc.
Technical Support Services
Our technical support offerings include round-the-clock technical support and problem resolution for OEM customers and computer hardware, software, peripherals and Internet infrastructure manufacturing companies. These include installation and product support, up & running support, troubleshooting and Usage support.
Service Example: Customers calling to resolve a problem with their home PC, customers calling to understand how to dial up to their ISP, customers calling with a problem with their software or hardware.
Telemarketing Services
Our telesales and telemarketing outsourcing services target interaction with potential customers for 'prospecting' like either for generating interest in products and services, or to up-sell / promte and cross sell to an existing customer base or to complete the sales process online.
Service Example: Outbound calling to sell wireless services for a telecom provider, outbound calling to retail households to sell leisure holidays, outbound calling to existing customers to sell a new rate card for a mobile service provider or outbound calling to sell credit or debit cards etc.
Employee IT Help-desk Services
Our employee IT help-desk services provide technical problem resolution and support for corporate employees.
Service Example: of this service include level 1 and 2 multi-channel support across a wide range of shrink wrapped and LOB applications, system problem resolutions related to desktop, notebooks, OS, connectivity etc., office productivity tools support including browsers and mail, new service requests, IT operational issues, product usage queries, routing specific requests to designated contacts and remote diagnostics etc.
Insurance Processing
Our insurance processing services provide specialized solutions to the insurance sector and support critical business processes applicable to the industry right from new business acquisition to policy maintenance to claims processing.
Service Example:
New Business / Promotion:
Inbound/outbound sales, Initial Setup, Case Management, Underwriting, Risk assessment, Policy issuance etc.
Policy Maintenance / Management:
Record Changes like Name, Beneficiary, Nominee, Address; Collateral verification, Surrender Audits Accounts Receivable, Accounting, Claim Overpayment, Customer care service via voice/email etc.
Data Entry Services / Data Processing Services Service Example:
Data entry from Paper/Books with highest accuracy and fast turn around time (TAT)
Data entry from Image file in any format
Business Transaction Data entry like sales / purchase / payroll.
Data entry of E-Books / Electronic Books
Data Entry : Yellow Pages / White Pages Keying
Data Entry and compilation from Web site
Data Capture / Collection
Business Card Data Entry into any Format
Data Entry from hardcopy/Printed Material into text or required format
Data Entry into Software Program and application
Receipt and Bill Data Entry
Catalog Data Entry.
Data Entry for Mailing List/Mailing Label.
Manuscripting typing in to word
Taped Transcription in to word.
Copy, Paste, Editing, Sorting, Indexing Data into required format etc.
Data Conversion Services Service Example:
Conversion of data across various databases on different platforms
Data Conversion via Input / Output for various media.
Data Conversion for databases, word processors, spreadsheets, and many other standard and custom-made software packages as per requirement.
Conversion from Page maker to PDF format.
Conversion from Ms-Word to HTML format
Conversion from Text to Word Perfect.
Conversion from Text to Word to HTML and Acrobat
Convert Raw Data into required MS Office formats.
Text to PDF and PDF to Word / Text / Doc
Data Compilation in PDF from Several Sources.
E-Book Conversion etc.
Scanning, OCR with Editing & Indexing Services Service Example:
High speed Image-Scanning and Data capture services
High speed large volume scanning
OCR Data From Scanned page / image
Scan & OCR paper Book in to CD.
ADOBE PDF Conversion Services.
Conversion from paper or e-file to various formats
Book Keeping and Accounting Services Service Example:
General Ledger
Accounts Receivables and Accounts Payable
Financial Statements
Bank Reconciliation
Assets / Equipment Ledgers etc.
Form Processing Services:
Service Example:
Insurance claim form
Medical Form / Medical billing
Online Form Processing
Payrol Processing etc.
Internet / Online / Web Research
Service Example:
Internet Search, Product Research, Market Research, Survey, Analysis. Web and Mailing list research etc.
Challenges for a HR Professional in BPO
Brand equity: People still consider BPO to be "low brow", thus making it difficult to attract the best talent.
Standard pre-job training: Again, due to the wide variety of the jobs, lack of general clarity on skill sets, etc, there is no standard curriculum, which could be designed and followed.
Benchmarks: There are hardly any benchmarks for compensation and benefits, performance or HR policies. Everyone is charting their own course.
Customer-companies tend to demand better results from outsourcing partners than what they could actually expect from their own departments. "When the job is being done 10,000 miles away, demands on parameters such as quality, turn around timeliness, information security, business continuity and disaster recovery, etc, are far higher than at home. So, how to be more efficient than the original?
Lack of focused training and certifications Given this background, the recruiting and compensation challenges of HR departments are only understandable.
Key To success
The key to success in ramping up talent in a BPO environment is a rapid training module. The training component has to be seen as an important sub-process, requiring constant re-engineering. Business Process Outsourcing: The Top Rankers WNS has emerged as the top BPO in India, pushing Wipro Spectramind to the second position, according to a survey done by NASSCOM. The basis of ranking is the revenues generated by the BPO companies in 2003-04, as per US GAAP. A list of top fifteen BPO companies in India is given below.
WNS Group
Wipro Spectramind
Daksh e-Services
Convergys
HCL Technologies
Zenta
ICICI Onesource
MphasiS
EXL
Tracmail
GTL Ltd.
vCustomer
HTMT
24/7 Customer
Sutherland Technologies
The parameters for the survey was: Employee Size (Operation level executives), Percentage of last salary hike, Cost to company , Overall Satisfaction Score, Composite Satisfaction, Company Culture, Job Content / Growth, Training , Salary and Compensation , Appraisal System, People, Preferred Company: (Percentage of respondents of a company who named their own company as the preferred one), Dream Company: (Percentage of respondents in the total sample who preferred a particular company).
Employee Benefits Provided By Majoriy Of the BPO Companies Provident Fund: As per the statutory guidelines, the employee is required to contribute a percentage of his basic salary and DA to a common fund. The employer for this fund contributes as well. The employee can use the amount deposited in this fund for various personal purposes such as purchase of a new house, marriage etc.
Gratuity: Gratuity is one of the retrial benefits given to the employee in which the employer every year contributes a particular amount. The fund created can be used by the employee for the purpose of long-term investment in various things such as a house etc.
Group Mediclaim Insurance Scheme: This insurance scheme is to provide adequate insurance coverage of employees for expenses related to hospitalization due to illness, disease or injury or pregnancy in case of female employees or spouse of male employees. All employees and their dependent family members are eligible. Dependent family members include spouse, non-earning parents and children above three months
Personal Accident Insurance Scheme: This scheme is to provide adequate insurance coverage for Hospitalization expenses arising out of injuries sustained in an accident.
Subsidized Food and Transportation: The organizations provides transportation facility to all the employees from home till office at subsidized rates. The lunch provided is also subsidized.
Company Leased Accommodation: Some of the companies provides shared accommodation for all the out station employees, in fact some of the BPO companies also undertakes to pay electricity/water bills as well as the Society charges for the shared accommodation. The purpose is to provide to the employees to lead a more comfortable work life balance.
Recreation, Cafeteria, ATM and Concierge facilities: The recreation facilities include pool tables, chess tables and coffee bars. Companies also have well equipped gyms, personal trainers and showers at facilities.
Corporate Credit Card: The main purpose of the corporate credit card is enable the timely and efficient payment of official expenses which the employees undertake for purposes such as travel related expenses like Hotel bills, Air tickets etc
Cellular Phone / Laptop: Cellular phone and / or Laptop is provided to the employees on the basis of business need. The employee is responsible for the maintenance and safeguarding of the asset.
Personal Health Care (Regular medical check-ups): Some of the BPO'S provides the facility for extensive health check-up. For employees with above 40 years of age, the medical check-up can be done once a year.
Loans: Many BPO companies provides loan facility on three different occasions: Employees are provided with financial assistance in case of a medical emergency. Employees are also provided with financial assistance at the time of their wedding. And, The new recruits are provided with interest free loans to assist them in their initial settlement at the work location.
Educational Benefits: Many BPO companies have this policy to develop the personality and knowledge level of their employees and hence reimburses the expenses incurred towards tuition fees, examination fees, and purchase of books subject, for pursuing MBA, and/or other management qualification at India's top most Business Schools.
Performance based incentives: In many BPO companies they have plans for , performance based incentive scheme. The parameters for calculation are process performance i.e. speed, accuracy and productivity of each process. The Pay for Performance can be as much as 22% of the salary.
Flexi-time: The main objective of the flextime policy is to provide opportunity to employees to work with flexible work schedules and set out conditions for availing this provision. Flexible work schedules are initiated by employees and approved by management to meet business commitments while supporting employee personal life needs .The factors on which Flexi time is allowed to an employee include: Child or Parent care, Health situation, Maternity, Formal education program
Flexible Salary Benefits: Its main objective is to provide flexibility to the employees to plan a tax-effective compensation structure by balancing the monthly net income, yearly benefits and income tax payable. It is applicable of all the employees of the organization. The Salary consists of Basic, DA and Conveyance Allowance. The Flexible Benefit Plan consists of: House Rent Allowance, Leave Travel Assistance, Medical Reimbursement, Special Allowance
Regular Get together and other cultural programs: The companies organizes cultural program as and when possible but most of the times, once in a quarter, in which all the employees are given an opportunity to display their talents in dramatics, singing, acting, dancing etc. Apart from that the organizations also conduct various sports programs such as Cricket, football, etc and regularly play matches with the teams of other organizations and colleges.
Wedding Day Gift: Employee is given a gift voucher of Rs. 2000/- to Rs. 7000/- based on their level in the organization.
Employee Referral Scheme: In several companies employee referral scheme is implemented to encourage employees to refer friends and relatives for employment in the organization.
Paid Days Off
Maternity Leave
Employee Stock Option Plan
Inspite of all these benefits, the attrition rate in BPO industry is very high, why?. What is the reason for an employee to leave? These and many more are the questions that need immediate attention from the industrial gurus.
Why people prefer to join BPO's?
In general a person with any graduation can join any of the BPO. Some BPO's like to take people with MBA but then again the specialization are of an individual hardly makes any difference. Again, this is the industry, where there is no reference checks and very often people don't even specify there exact age. Lets me share with you some of the reasons as why people prefer to join a BPO:
Did not get a better job.
Find nothing better to do.
Education level doesn't matter
Good work environment
Good Benefits
Flexibility of time
Attractive life style
Transport facility
Why people leave the BPO's?
When there are so many benefits associated with BPO industry….when there are so many privileges for the BPO employees than what makes them to change the company/industry?? Is it only MONEY that matters or anything else as well?? Here are some of the reasons for a BPO professional to change his/her job.
No growth opportunity/lack of promotion
For higher Salary
For Higher education
Misguidance by the company
Policies and procedures are not conducive
No personal life
Physical strains
Uneasy relationship with peers or managers
What they have to say?
With so much of uncertainty in the market…..people are trying their best to stop or to at least have a control on the attrition rate…let me share with you the opinion of the real gurus of the industry.
"Training is a very important aspect of the ITES-BPO industry"- Mr. Arjun Vaznaik, COO, Tracmail
" Career growth in the industry is robust and there is a long-term opportunity. The great growth momentum that the industry is witnessing is creating both vert
Many of today's top business leaders are choosing business jets as they're primary means for air travel. It's no surprise that with all the headaches and inconvenience that come with modern air travel, those with the resources and access rely on their business jets to get them where they need to be, on time and refreshed.Business jets offer first class treatment like no other and to top things off, for the most part you don't have to worry about traveling with chatty, annoying strangers or food that barely qualifies as such. Business jets are almost like limousines for the air, offered by companies for their top officials, for special events or as rewards for exceptional performance.Of course, the downside is that business jets can be extremely expensive. With all the amenities and extras it takes to stock a jet, not to mention fuel, crew and other operating costs, it can add up to a hefty tab pretty quickly. But despite that, many businesses see them as an invaluable asset for catering to their top brass, especially when it comes time to seal that important business deal or get some time away to keep from burning out.Contrast that with your typical air travel experience. Even if you're fortunate enough to land yourself a seat in first class, you still have to get to the gate like everyone else. That typically means long lines, seemingly endless waiting, and of course the extra security. By the time you tack on the extra hour or so to your travels to account for all this, you usually end up arriving at your destination tired, cranky and sore from those tiny seats.Instead, wouldn't it be better to simply choose when and where you'd like to depart, who's coming with you, how long you'll be staying and skipping the long lines?If you're a business owner or individual with the resources to do so, owning a business jet might be a great option for you to consider. With growing trends such as "fractional jet ownership", owning a private jet has become much more affordable than was the case in the past.Why not research your options today and see if owning a business jet is a wise decision for you or your business?
Insurance Processing
Our insurance processing services provide specialized solutions to the insurance sector and support critical business processes applicable to the industry right from new business acquisition to policy maintenance to claims processing.
Service Example:
New Business / Promotion:
Inbound/outbound sales, Initial Setup, Case Management, Underwriting, Risk assessment, Policy issuance etc.
Policy Maintenance / Management:
Record Changes like Name, Beneficiary, Nominee, Address; Collateral verification, Surrender Audits Accounts Receivable, Accounting, Claim Overpayment, Customer care service via voice/email etc.
Data Entry Services / Data Processing Services Service Example:
Data entry from Paper/Books with highest accuracy and fast turn around time (TAT)
Data entry from Image file in any format
Business Transaction Data entry like sales / purchase / payroll.
Data entry of E-Books / Electronic Books
Data Entry : Yellow Pages / White Pages Keying
Data Entry and compilation from Web site
Data Capture / Collection
Business Card Data Entry into any Format
Data Entry from hardcopy/Printed Material into text or required format
Data Entry into Software Program and application
Receipt and Bill Data Entry
Catalog Data Entry.
Data Entry for Mailing List/Mailing Label.
Manuscripting typing in to word
Taped Transcription in to word.
Copy, Paste, Editing, Sorting, Indexing Data into required format etc.
Data Conversion Services Service Example:
Conversion of data across various databases on different platforms
Data Conversion via Input / Output for various media.
Data Conversion for databases, word processors, spreadsheets, and many other standard and custom-made software packages as per requirement.
Conversion from Page maker to PDF format.
Conversion from Ms-Word to HTML format
Conversion from Text to Word Perfect.
Conversion from Text to Word to HTML and Acrobat
Convert Raw Data into required MS Office formats.
Text to PDF and PDF to Word / Text / Doc
Data Compilation in PDF from Several Sources.
E-Book Conversion etc.
Scanning, OCR with Editing & Indexing Services Service Example:
High speed Image-Scanning and Data capture services
High speed large volume scanning
OCR Data From Scanned page / image
Scan & OCR paper Book in to CD.
ADOBE PDF Conversion Services.
Conversion from paper or e-file to various formats
Book Keeping and Accounting Services Service Example:
General Ledger
Accounts Receivables and Accounts Payable
Financial Statements
Bank Reconciliation
Assets / Equipment Ledgers etc.
Form Processing Services:
Service Example:
Insurance claim form
Medical Form / Medical billing
Online Form Processing
Payrol Processing etc.
Internet / Online / Web Research
Service Example:
Internet Search, Product Research, Market Research, Survey, Analysis. Web and Mailing list research etc.
Challenges for a HR Professional in BPO
Brand equity: People still consider BPO to be "low brow", thus making it difficult to attract the best talent.
Standard pre-job training: Again, due to the wide variety of the jobs, lack of general clarity on skill sets, etc, there is no standard curriculum, which could be designed and followed.
Benchmarks: There are hardly any benchmarks for compensation and benefits, performance or HR policies. Everyone is charting their own course.
Customer-companies tend to demand better results from outsourcing partners than what they could actually expect from their own departments. "When the job is being done 10,000 miles away, demands on parameters such as quality, turn around timeliness, information security, business continuity and disaster recovery, etc, are far higher than at home. So, how to be more efficient than the original?
Lack of focused training and certifications Given this background, the recruiting and compensation challenges of HR departments are only understandable.
Key To success
The key to success in ramping up talent in a BPO environment is a rapid training module. The training component has to be seen as an important sub-process, requiring constant re-engineering. Business Process Outsourcing: The Top Rankers WNS has emerged as the top BPO in India, pushing Wipro Spectramind to the second position, according to a survey done by NASSCOM. The basis of ranking is the revenues generated by the BPO companies in 2003-04, as per US GAAP. A list of top fifteen BPO companies in India is given below.
WNS Group
Wipro Spectramind
Daksh e-Services
Convergys
HCL Technologies
Zenta
ICICI Onesource
MphasiS
EXL
Tracmail
GTL Ltd.
vCustomer
HTMT
24/7 Customer
Sutherland Technologies
The parameters for the survey was: Employee Size (Operation level executives), Percentage of last salary hike, Cost to company , Overall Satisfaction Score, Composite Satisfaction, Company Culture, Job Content / Growth, Training , Salary and Compensation , Appraisal System, People, Preferred Company: (Percentage of respondents of a company who named their own company as the preferred one), Dream Company: (Percentage of respondents in the total sample who preferred a particular company).
Employee Benefits Provided By Majoriy Of the BPO Companies Provident Fund: As per the statutory guidelines, the employee is required to contribute a percentage of his basic salary and DA to a common fund. The employer for this fund contributes as well. The employee can use the amount deposited in this fund for various personal purposes such as purchase of a new house, marriage etc.
Gratuity: Gratuity is one of the retrial benefits given to the employee in which the employer every year contributes a particular amount. The fund created can be used by the employee for the purpose of long-term investment in various things such as a house etc.
Group Mediclaim Insurance Scheme: This insurance scheme is to provide adequate insurance coverage of employees for expenses related to hospitalization due to illness, disease or injury or pregnancy in case of female employees or spouse of male employees. All employees and their dependent family members are eligible. Dependent family members include spouse, non-earning parents and children above three months
Personal Accident Insurance Scheme: This scheme is to provide adequate insurance coverage for Hospitalization expenses arising out of injuries sustained in an accident.
Subsidized Food and Transportation: The organizations provides transportation facility to all the employees from home till office at subsidized rates. The lunch provided is also subsidized.
Company Leased Accommodation: Some of the companies provides shared accommodation for all the out station employees, in fact some of the BPO companies also undertakes to pay electricity/water bills as well as the Society charges for the shared accommodation. The purpose is to provide to the employees to lead a more comfortable work life balance.
Recreation, Cafeteria, ATM and Concierge facilities: The recreation facilities include pool tables, chess tables and coffee bars. Companies also have well equipped gyms, personal trainers and showers at facilities.
Corporate Credit Card: The main purpose of the corporate credit card is enable the timely and efficient payment of official expenses which the employees undertake for purposes such as travel related expenses like Hotel bills, Air tickets etc
Cellular Phone / Laptop: Cellular phone and / or Laptop is provided to the employees on the basis of business need. The employee is responsible for the maintenance and safeguarding of the asset.
Personal Health Care (Regular medical check-ups): Some of the BPO'S provides the facility for extensive health check-up. For employees with above 40 years of age, the medical check-up can be done once a year.
Loans: Many BPO companies provides loan facility on three different occasions: Employees are provided with financial assistance in case of a medical emergency. Employees are also provided with financial assistance at the time of their wedding. And, The new recruits are provided with interest free loans to assist them in their initial settlement at the work location.
Educational Benefits: Many BPO companies have this policy to develop the personality and knowledge level of their employees and hence reimburses the expenses incurred towards tuition fees, examination fees, and purchase of books subject, for pursuing MBA, and/or other management qualification at India's top most Business Schools.
Performance based incentives: In many BPO companies they have plans for , performance based incentive scheme. The parameters for calculation are process performance i.e. speed, accuracy and productivity of each process. The Pay for Performance can be as much as 22% of the salary.
Flexi-time: The main objective of the flextime policy is to provide opportunity to employees to work with flexible work schedules and set out conditions for availing this provision. Flexible work schedules are initiated by employees and approved by management to meet business commitments while supporting employee personal life needs .The factors on which Flexi time is allowed to an employee include: Child or Parent care, Health situation, Maternity, Formal education program
Flexible Salary Benefits: Its main objective is to provide flexibility to the employees to plan a tax-effective compensation structure by balancing the monthly net income, yearly benefits and income tax payable. It is applicable of all the employees of the organization. The Salary consists of Basic, DA and Conveyance Allowance. The Flexible Benefit Plan consists of: House Rent Allowance, Leave Travel Assistance, Medical Reimbursement, Special Allowance
Regular Get together and other cultural programs: The companies organizes cultural program as and when possible but most of the times, once in a quarter, in which all the employees are given an opportunity to display their talents in dramatics, singing, acting, dancing etc. Apart from that the organizations also conduct various sports programs such as Cricket, football, etc and regularly play matches with the teams of other organizations and colleges.
Wedding Day Gift: Employee is given a gift voucher of Rs. 2000/- to Rs. 7000/- based on their level in the organization.
Employee Referral Scheme: In several companies employee referral scheme is implemented to encourage employees to refer friends and relatives for employment in the organization.
Paid Days Off
Maternity Leave
Employee Stock Option Plan
Inspite of all these benefits, the attrition rate in BPO industry is very high, why?. What is the reason for an employee to leave? These and many more are the questions that need immediate attention from the industrial gurus.
Why people prefer to join BPO's?
In general a person with any graduation can join any of the BPO. Some BPO's like to take people with MBA but then again the specialization are of an individual hardly makes any difference. Again, this is the industry, where there is no reference checks and very often people don't even specify there exact age. Lets me share with you some of the reasons as why people prefer to join a BPO:
Did not get a better job.
Find nothing better to do.
Education level doesn't matter
Good work environment
Good Benefits
Flexibility of time
Attractive life style
Transport facility
Why people leave the BPO's?
When there are so many benefits associated with BPO industry….when there are so many privileges for the BPO employees than what makes them to change the company/industry?? Is it only MONEY that matters or anything else as well?? Here are some of the reasons for a BPO professional to change his/her job.
No growth opportunity/lack of promotion
For higher Salary
For Higher education
Misguidance by the company
Policies and procedures are not conducive
No personal life
Physical strains
Uneasy relationship with peers or managers
What they have to say?
With so much of uncertainty in the market…..people are trying their best to stop or to at least have a control on the attrition rate…let me share with you the opinion of the real gurus of the industry.
"Training is a very important aspect of the ITES-BPO industry"- Mr. Arjun Vaznaik, COO, Tracmail
" Career growth in the industry is robust and there is a long-term opportunity. The great growth momentum that the industry is witnessing is creating both vert
Stop wasting time looking for papers lost on your desk, running down to the office supply store for last minute printer ribbons, or working 24-7. Use these tips to get more organized, streamline your repetitive activities and plan ahead to prevent office crises and uproar.Tip #1 - Find special places for special papers…and then put them there. One colleague lost a full fee check somewhere on her desk and was too embarrassed to ask her client for another one. Now she has an old fashioned "clamp on a stick" to hold every check that comes in until they can be deposited. Use color-coding to distinguish types of work, the importance of the project, and increase the likelihood of finding the file when you need it. Color-coding cuts down considerably onTip #2 - Use color-coding to distinguish types of work, the importance of the project, and increase the likelihood of finding the file when you need it. Color-coding cuts down considerably on hunting through similar files to find just the one that's needed.Tip #3 - Meet with yourself once a week to work on your business. Review your marketing activities, sales activities, client needs and financial status to save hours of clean up time for missing a commitment, or big bucks from passing on a lurking opportunity.Tip #4 - Clean off your desk before finishing work for the week. Transfer all the little notes, phone numbers, ideas and dates into your calendar, database or project files…and set out your files and papers for Monday morning appointments.Tip #5 - Work only five days a week. By putting boundaries on your work, you'll increase the quality of the time you do work, and nurture yourself and your relationships. (If you are one of the 24-7 types, you may need to go into this gradually.) Take three to four months by cutting back gradually until you are down to no more than a 40-50 hour week.Tip #6 - Lay in a reserve of supplies to avoid last minute trips for cartridges and long lines at the post office. Extend this to your personal life: buy a month's supply of underwear, a six month's supply of paper products, laundry soap, and toiletries.Tip #7 - Use the
Standard pre-job training: Again, due to the wide variety of the jobs, lack of general clarity on skill sets, etc, there is no standard curriculum, which could be designed and followed.
Benchmarks: There are hardly any benchmarks for compensation and benefits, performance or HR policies. Everyone is charting their own course.
Customer-companies tend to demand better results from outsourcing partners than what they could actually expect from their own departments. "When the job is being done 10,000 miles away, demands on parameters such as quality, turn around timeliness, information security, business continuity and disaster recovery, etc, are far higher than at home. So, how to be more efficient than the original?
Lack of focused training and certifications Given this background, the recruiting and compensation challenges of HR departments are only understandable.
Key To success
The key to success in ramping up talent in a BPO environment is a rapid training module. The training component has to be seen as an important sub-process, requiring constant re-engineering. Business Process Outsourcing: The Top Rankers WNS has emerged as the top BPO in India, pushing Wipro Spectramind to the second position, according to a survey done by NASSCOM. The basis of ranking is the revenues generated by the BPO companies in 2003-04, as per US GAAP. A list of top fifteen BPO companies in India is given below.
WNS Group
Wipro Spectramind
Daksh e-Services
Convergys
HCL Technologies
Zenta
ICICI Onesource
MphasiS
EXL
Tracmail
GTL Ltd.
vCustomer
HTMT
24/7 Customer
Sutherland Technologies
The parameters for the survey was: Employee Size (Operation level executives), Percentage of last salary hike, Cost to company , Overall Satisfaction Score, Composite Satisfaction, Company Culture, Job Content / Growth, Training , Salary and Compensation , Appraisal System, People, Preferred Company: (Percentage of respondents of a company who named their own company as the preferred one), Dream Company: (Percentage of respondents in the total sample who preferred a particular company).
Employee Benefits Provided By Majoriy Of the BPO Companies Provident Fund: As per the statutory guidelines, the employee is required to contribute a percentage of his basic salary and DA to a common fund. The employer for this fund contributes as well. The employee can use the amount deposited in this fund for various personal purposes such as purchase of a new house, marriage etc.
Gratuity: Gratuity is one of the retrial benefits given to the employee in which the employer every year contributes a particular amount. The fund created can be used by the employee for the purpose of long-term investment in various things such as a house etc.
Group Mediclaim Insurance Scheme: This insurance scheme is to provide adequate insurance coverage of employees for expenses related to hospitalization due to illness, disease or injury or pregnancy in case of female employees or spouse of male employees. All employees and their dependent family members are eligible. Dependent family members include spouse, non-earning parents and children above three months
Personal Accident Insurance Scheme: This scheme is to provide adequate insurance coverage for Hospitalization expenses arising out of injuries sustained in an accident.
Subsidized Food and Transportation: The organizations provides transportation facility to all the employees from home till office at subsidized rates. The lunch provided is also subsidized.
Company Leased Accommodation: Some of the companies provides shared accommodation for all the out station employees, in fact some of the BPO companies also undertakes to pay electricity/water bills as well as the Society charges for the shared accommodation. The purpose is to provide to the employees to lead a more comfortable work life balance.
Recreation, Cafeteria, ATM and Concierge facilities: The recreation facilities include pool tables, chess tables and coffee bars. Companies also have well equipped gyms, personal trainers and showers at facilities.
Corporate Credit Card: The main purpose of the corporate credit card is enable the timely and efficient payment of official expenses which the employees undertake for purposes such as travel related expenses like Hotel bills, Air tickets etc
Cellular Phone / Laptop: Cellular phone and / or Laptop is provided to the employees on the basis of business need. The employee is responsible for the maintenance and safeguarding of the asset.
Personal Health Care (Regular medical check-ups): Some of the BPO'S provides the facility for extensive health check-up. For employees with above 40 years of age, the medical check-up can be done once a year.
Loans: Many BPO companies provides loan facility on three different occasions: Employees are provided with financial assistance in case of a medical emergency. Employees are also provided with financial assistance at the time of their wedding. And, The new recruits are provided with interest free loans to assist them in their initial settlement at the work location.
Educational Benefits: Many BPO companies have this policy to develop the personality and knowledge level of their employees and hence reimburses the expenses incurred towards tuition fees, examination fees, and purchase of books subject, for pursuing MBA, and/or other management qualification at India's top most Business Schools.
Performance based incentives: In many BPO companies they have plans for , performance based incentive scheme. The parameters for calculation are process performance i.e. speed, accuracy and productivity of each process. The Pay for Performance can be as much as 22% of the salary.
Flexi-time: The main objective of the flextime policy is to provide opportunity to employees to work with flexible work schedules and set out conditions for availing this provision. Flexible work schedules are initiated by employees and approved by management to meet business commitments while supporting employee personal life needs .The factors on which Flexi time is allowed to an employee include: Child or Parent care, Health situation, Maternity, Formal education program
Flexible Salary Benefits: Its main objective is to provide flexibility to the employees to plan a tax-effective compensation structure by balancing the monthly net income, yearly benefits and income tax payable. It is applicable of all the employees of the organization. The Salary consists of Basic, DA and Conveyance Allowance. The Flexible Benefit Plan consists of: House Rent Allowance, Leave Travel Assistance, Medical Reimbursement, Special Allowance
Regular Get together and other cultural programs: The companies organizes cultural program as and when possible but most of the times, once in a quarter, in which all the employees are given an opportunity to display their talents in dramatics, singing, acting, dancing etc. Apart from that the organizations also conduct various sports programs such as Cricket, football, etc and regularly play matches with the teams of other organizations and colleges.
Wedding Day Gift: Employee is given a gift voucher of Rs. 2000/- to Rs. 7000/- based on their level in the organization.
Employee Referral Scheme: In several companies employee referral scheme is implemented to encourage employees to refer friends and relatives for employment in the organization.
Paid Days Off
Maternity Leave
Employee Stock Option Plan
Inspite of all these benefits, the attrition rate in BPO industry is very high, why?. What is the reason for an employee to leave? These and many more are the questions that need immediate attention from the industrial gurus.
Why people prefer to join BPO's?
In general a person with any graduation can join any of the BPO. Some BPO's like to take people with MBA but then again the specialization are of an individual hardly makes any difference. Again, this is the industry, where there is no reference checks and very often people don't even specify there exact age. Lets me share with you some of the reasons as why people prefer to join a BPO:
Did not get a better job.
Find nothing better to do.
Education level doesn't matter
Good work environment
Good Benefits
Flexibility of time
Attractive life style
Transport facility
Why people leave the BPO's?
When there are so many benefits associated with BPO industry….when there are so many privileges for the BPO employees than what makes them to change the company/industry?? Is it only MONEY that matters or anything else as well?? Here are some of the reasons for a BPO professional to change his/her job.
No growth opportunity/lack of promotion
For higher Salary
For Higher education
Misguidance by the company
Policies and procedures are not conducive
No personal life
Physical strains
Uneasy relationship with peers or managers
What they have to say?
With so much of uncertainty in the market…..people are trying their best to stop or to at least have a control on the attrition rate…let me share with you the opinion of the real gurus of the industry.
"Training is a very important aspect of the ITES-BPO industry"- Mr. Arjun Vaznaik, COO, Tracmail
" Career growth in the industry is robust and there is a long-term opportunity. The great growth momentum that the industry is witnessing is creating both vert
For decades, businesses and factories monitored the working hours of their employees using time clocks. A particular favorite was the punch card system, where the employee had to insert their card into the time clock, so their hours could be stamped on the card. The payroll officer would then collect these cards each week and pay the employees accordingly.It's a simple system, but unfortunately it's also very easy to cheat. Joe Bloggs is a bit late today? That's okay, John Doe can pop his card in the time clock and nobody will know the difference. Most companies have severe penalties in place for employees found faking time clock information, particularly clocking on or off for other employees, but the chances of detecting it have always been small.Not only is the system open to cheating, it's also very time consuming for the payroll officer. With the level of technology and computerization available today, there's no need to manually collate and enter data, with all the possibility of error that entails. Automation can make the whole process much simpler for everyone involved. It's no longer necessary to manually collect time and attendance data from time cards or attendance sheets.Most payroll systems that are computer based make it easy to produce paychecks from the attendance data. So if the actual collection of the data is automatic, the process becomes so much simpler, and more accurate. Modern time clocks collect data electronically, and this data can be downloaded directly into a payroll software program for collation and production of paychecks.There are plenty of time clock systems that process information electronically, so do some research and you're sure to find one that fits your needs. This still doesn't eliminate the possibility of employees cheating the system on behalf of a buddy, but if you're serious about security, it is possible to get time clocks that require biometric identification of the person signing on or off. They cost a lot more though!So bring your business into the modern world, and update your time clock system to an electronic version. Your payroll staff will love you for it!
Personal Accident Insurance Scheme: This scheme is to provide adequate insurance coverage for Hospitalization expenses arising out of injuries sustained in an accident.
Subsidized Food and Transportation: The organizations provides transportation facility to all the employees from home till office at subsidized rates. The lunch provided is also subsidized.
Company Leased Accommodation: Some of the companies provides shared accommodation for all the out station employees, in fact some of the BPO companies also undertakes to pay electricity/water bills as well as the Society charges for the shared accommodation. The purpose is to provide to the employees to lead a more comfortable work life balance.
Recreation, Cafeteria, ATM and Concierge facilities: The recreation facilities include pool tables, chess tables and coffee bars. Companies also have well equipped gyms, personal trainers and showers at facilities.
Corporate Credit Card: The main purpose of the corporate credit card is enable the timely and efficient payment of official expenses which the employees undertake for purposes such as travel related expenses like Hotel bills, Air tickets etc
Cellular Phone / Laptop: Cellular phone and / or Laptop is provided to the employees on the basis of business need. The employee is responsible for the maintenance and safeguarding of the asset.
Personal Health Care (Regular medical check-ups): Some of the BPO'S provides the facility for extensive health check-up. For employees with above 40 years of age, the medical check-up can be done once a year.
Loans: Many BPO companies provides loan facility on three different occasions: Employees are provided with financial assistance in case of a medical emergency. Employees are also provided with financial assistance at the time of their wedding. And, The new recruits are provided with interest free loans to assist them in their initial settlement at the work location.
Educational Benefits: Many BPO companies have this policy to develop the personality and knowledge level of their employees and hence reimburses the expenses incurred towards tuition fees, examination fees, and purchase of books subject, for pursuing MBA, and/or other management qualification at India's top most Business Schools.
Performance based incentives: In many BPO companies they have plans for , performance based incentive scheme. The parameters for calculation are process performance i.e. speed, accuracy and productivity of each process. The Pay for Performance can be as much as 22% of the salary.
Flexi-time: The main objective of the flextime policy is to provide opportunity to employees to work with flexible work schedules and set out conditions for availing this provision. Flexible work schedules are initiated by employees and approved by management to meet business commitments while supporting employee personal life needs .The factors on which Flexi time is allowed to an employee include: Child or Parent care, Health situation, Maternity, Formal education program
Flexible Salary Benefits: Its main objective is to provide flexibility to the employees to plan a tax-effective compensation structure by balancing the monthly net income, yearly benefits and income tax payable. It is applicable of all the employees of the organization. The Salary consists of Basic, DA and Conveyance Allowance. The Flexible Benefit Plan consists of: House Rent Allowance, Leave Travel Assistance, Medical Reimbursement, Special Allowance
Regular Get together and other cultural programs: The companies organizes cultural program as and when possible but most of the times, once in a quarter, in which all the employees are given an opportunity to display their talents in dramatics, singing, acting, dancing etc. Apart from that the organizations also conduct various sports programs such as Cricket, football, etc and regularly play matches with the teams of other organizations and colleges.
Wedding Day Gift: Employee is given a gift voucher of Rs. 2000/- to Rs. 7000/- based on their level in the organization.
Employee Referral Scheme: In several companies employee referral scheme is implemented to encourage employees to refer friends and relatives for employment in the organization.
Paid Days Off
Maternity Leave
Employee Stock Option Plan
Inspite of all these benefits, the attrition rate in BPO industry is very high, why?. What is the reason for an employee to leave? These and many more are the questions that need immediate attention from the industrial gurus.
Why people prefer to join BPO's?
In general a person with any graduation can join any of the BPO. Some BPO's like to take people with MBA but then again the specialization are of an individual hardly makes any difference. Again, this is the industry, where there is no reference checks and very often people don't even specify there exact age. Lets me share with you some of the reasons as why people prefer to join a BPO:
Did not get a better job.
Find nothing better to do.
Education level doesn't matter
Good work environment
Good Benefits
Flexibility of time
Attractive life style
Transport facility
Why people leave the BPO's?
When there are so many benefits associated with BPO industry….when there are so many privileges for the BPO employees than what makes them to change the company/industry?? Is it only MONEY that matters or anything else as well?? Here are some of the reasons for a BPO professional to change his/her job.
No growth opportunity/lack of promotion
For higher Salary
For Higher education
Misguidance by the company
Policies and procedures are not conducive
No personal life
Physical strains
Uneasy relationship with peers or managers
What they have to say?
With so much of uncertainty in the market…..people are trying their best to stop or to at least have a control on the attrition rate…let me share with you the opinion of the real gurus of the industry.
"Training is a very important aspect of the ITES-BPO industry"- Mr. Arjun Vaznaik, COO, Tracmail
" Career growth in the industry is robust and there is a long-term opportunity. The great growth momentum that the industry is witnessing is creating both vert
Planning for the Environment – Changing the Way We do BusinessAt any given moment there are thousands of business meetings and special events going on with millions of guests traveling to and from different locations throughout the world. The event and hospitality industry is perfectly situated to have an extraordinary environmental and ecological impact by planning events with better awareness and by greening up their decision making process. Green planning is a responsible way of doing business that includes energy conservation, minimizing consumption of natural resources, reducing waste, reusing resources, recycling, and using earth-friendly products.Green meetings and events are not main stream today but will be mandate before we know it. Times are evolving rapidly in that direction and event planners, venues, suppliers and participants are responding. They are beginning to follow ecological practices and implementing environmentally friendly processes and programs into the way they design their events. The more an event planner requests and ultimately hires green services, the more suppliers and vendors will begin to incorporate green practices as well. They will have to keep up with the times and the requests of their clients.These suggestions listed below are for you if you gather people for any reason what-so-ever! It doesn’t matter what type of event you plan. Whether you are coordinating a special event, planning a corporate event, are part of the team planning conventions, involved in conference planning or business meetings and seminars. Maybe your are in charge of planning a company party, a sporting event, grand openings, a reception, a charity event or a fundraiser, or have volunteered to do your daughters wedding or son's school play or bake sale. You might be planning festivals, rock concerts, reunions, retreats, or book signing events. Or perhaps you are just having the family and friends over for a holiday get-together. The list is endless - thousand of events are being planned as you read this! ALL of them could use environmental practices.Listed below are a few simple choices you can
Regular Get together and other cultural programs: The companies organizes cultural program as and when possible but most of the times, once in a quarter, in which all the employees are given an opportunity to display their talents in dramatics, singing, acting, dancing etc. Apart from that the organizations also conduct various sports programs such as Cricket, football, etc and regularly play matches with the teams of other organizations and colleges.
Wedding Day Gift: Employee is given a gift voucher of Rs. 2000/- to Rs. 7000/- based on their level in the organization.
Employee Referral Scheme: In several companies employee referral scheme is implemented to encourage employees to refer friends and relatives for employment in the organization.
Paid Days Off
Maternity Leave
Employee Stock Option Plan
Inspite of all these benefits, the attrition rate in BPO industry is very high, why?. What is the reason for an employee to leave? These and many more are the questions that need immediate attention from the industrial gurus.
Why people prefer to join BPO's?
In general a person with any graduation can join any of the BPO. Some BPO's like to take people with MBA but then again the specialization are of an individual hardly makes any difference. Again, this is the industry, where there is no reference checks and very often people don't even specify there exact age. Lets me share with you some of the reasons as why people prefer to join a BPO:
Did not get a better job.
Find nothing better to do.
Education level doesn't matter
Good work environment
Good Benefits
Flexibility of time
Attractive life style
Transport facility
Why people leave the BPO's?
When there are so many benefits associated with BPO industry….when there are so many privileges for the BPO employees than what makes them to change the company/industry?? Is it only MONEY that matters or anything else as well?? Here are some of the reasons for a BPO professional to change his/her job.
No growth opportunity/lack of promotion
For higher Salary
For Higher education
Misguidance by the company
Policies and procedures are not conducive
No personal life
Physical strains
Uneasy relationship with peers or managers
What they have to say?
With so much of uncertainty in the market…..people are trying their best to stop or to at least have a control on the attrition rate…let me share with you the opinion of the real gurus of the industry.
"Training is a very important aspect of the ITES-BPO industry"- Mr. Arjun Vaznaik, COO, Tracmail
" Career growth in the industry is robust and there is a long-term opportunity. The great growth momentum that the industry is witnessing is creating both vertical and lateral career opportunities. There also exists enough growth opportunities in the middle-management and supervisory level within the industry". - Aadesh Goyal, Executive Vice President & GM, Hughes BPO Services
"It will not be possible for the industry to arrive at a blanket agreement on poaching but bilateral agreements between companies are being signed. Basic norms are being put in place and code of ethics is being stressed upon by industry players within the sector with respect to HR practices. We are encouraging companies to adopt responsible behavior in order to ensure that the industry does not become a victim of its own actions. Industry needs to go aggressive but not cannibalistic." - Mr. Suren Singh Rasaily, Senior Vice President, NIIT Ltd. and Head Plantworkz,
Conclusion:
This is a descriptive report on BPO industry. I have tried to cover almost everything related to the industry. I like to have your opinion about the same. Even at the end of this comprehensive report, my concerns are related to development of employees in BPO, controlling attrition rate in BPO, can we have some standard industrial compensation package/ break-ups?
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