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India is in the midst of a Service Revolution and the opportunities this presents are immense. Needless to say, the BPO Industry is at the helm of this revolution. Every estimate that is made of the expected growth in this industry, points to the fact that this is India's biggest opportunity to become a global player.
The BPO sector is poised to touch revenues of US $ 12.2 billion in 2006 (IDC). According to a study conducted by IDC and ASSOCHAM, the BPO Industry has grown at a whopping rate of 60-70% annually.
It is the tremendous growth in this sector that coerces us HR Professionals to answer some very pertinent questions with regard to the opportunities and challenges in this Industry. Let us take a closer look at one of the fundamental issues the industry faces today, one that has the capability to make or break a BPO organisation's success.
The People Challenge
The people challenge in the BPO segment can never be underestimated. While there is no dearth of data on the immense resource our country has in terms of English-speaking graduates, communication skills are still an area of concern in the BPO segment. Since, most of our interactions happen with clients and customers outside India on a daily basis, what is needed is the language that is understood and comprehended by customers worldwide.
In addition to this basic requirement, which is mandatory at all levels, Project Management skills, People Management skills and Global Cultural awareness are a must for all employees, especially at a managerial level. Young supervisors are at an advantage if they possess an aptitude for numbers, analytical skills and are self-motivated. The need to work at different time zones requires a good level of flexibility and discipline.
The BPO Industry is a highly people intensive sector and this calls for highly people focused managers. There is a need for a strong middle management where managers can be viewed as role models by frontline staff. This is especially important as the industry is still very young and has scope to grow.
High attrition levels are another factor that plague this industry. Due to a number of reasons that range from working in night shifts to a high pressure working environment, the industry faces a relatively higher rate of attrition.
Despite issues such as high employee turnover, working in BPO organisations is taking on a different perspective as the growth and success of this sector becomes more apparent. Employees have realised that there are a lot of opportunities for growth and now look at this industry as a serious career option. The fact that the industry's compensation scales are much higher in comparison to many of the traditional sectors is an added bonus.
Employee Satisfaction is a factor that is given high priority in most BPO organisations. The intense competition amongst companies vying for the same talent pool and a place in this sunrise industry has given employee focus renewed significance.
The future in the BPO industry is bright and exciting and it is up to us professionals to make the most of it. This sector has unique set of opportunities and challenges like any other - the onus is on us to make the most of it.
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