Sai Prasanna, COO, Ma Foi Consulting Solutions
The Outsourcing of HR ServicesThere are several factors that will propel this trend. The first reason is that India has migrated from being a mere cost arbitrage player to one where outsourcing improves process efficiency. This is a logical extension as part of maturity cycle of any business and BPO is no exception. In addition, India has plenty of human resources and, thus, offers itself an ideal platform for leveraging the BPO opportunity. What we have seen is still part of early-adoption in the last couple of years. Experts estimate that there is greater opportunity still to be untapped. But there are several factors that can act as roadblocks. India will face competition from countries such as the Philippines and Thailand. There are no vocational courses to prepare graduates for the new kinds of employment in India. The need of the hour is to create courses for new streams in related BPO segments. This can help in reducing the huge attrition rates.
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Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist)
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