Attrition Rates: Nightmares of the Industry.
If we are to talk about some of the problems ailing the industry in India, one of the first things that come to mind is attrition. Though its presence is felt in every area, the BPO industry is seen to be suffering the most. High attrition rates have become common in BPOs and HRs need to come up with effective solutions to tackle this problem.
When freshers join a BPO, the company has to spend a considerable amount of time and money in training the new recruits. To enable the employees to communicate well with foreign customers, they are provided voice training, accent training and other tips and tricks of communicating over phone. The candidates need to know a lot about the company and its products as well. So after all the training, if employees leave for other opportunities, it’s back to square one for the companies with another bunch of new employees. Thus bringing the attrition rate down is a priority for most players in the industry.
Some effective strategies to tackle this could be to give employees a sense of job-security, offer them attractive rewards for good performance and make the environment of the offices fun. Work can get stressful at times and various recreational activities can be arranged so that the employees can look forward to a lot more other than routine work.
The attrition rates have lessened over the last year (25-28% on an average) compared to earlier years (55-60%) but that’s largely due to recession. The sooner the companies take effective remedial measures, the better.