BPO Companies May Find It Tough to Retain Their Middle Level Executives, Post Recession: BPO Voice
New Delhi, India, October 30, 2009 --(PR.com)-- Most of the BPO/Outsourcing companies will find it tough to retain their middle level executives in the post recession scenario as most of the employees at this level are thinking about a job change, according to the BPO Employees Opinion Survey 2009, conducted by BPOVoice.com – A community portal for the outsourcing/ BPO Professionals.
The middle level executives seemed to be under more stress at the moment in comparison to others and won’t mind making a job switch to even a lesser known brand if offered a lucrative deal.
The Key Observations of the survey were:
1. The survey results pointed towards an important indicator - A high rate of attrition may be observed among the middle level executives, in the post recession scenario. It seems as if, the companies will have a tough time retaining their quality talent at the middle level as they were the one most eager to quit their present organization, as per as the survey results. Also, the middle level executives seemed to be under more stress in comparison to others which could have influenced their opinion regarding making a job change.
2. One of the positive findings of the survey was the larger acceptance among the outsourcing/BPO Professionals about the need to put a temporary cut on the expenses or to increase work pressure, in sync with the demand and requirement raised out of the unprecedented financial crisis. The respondents were sharply divided over using layoffs as a part of cost cutting strategy. Surprisingly the senior level respondents were the most vocal against it.
3. Majority of the respondents said they will recommend their company to their friends or relatives which indicated that, they still view their current organization as a trusted employer and haven't lost their faith in the management. However, the entry level respondents were not too enthusiastic about the same.
4. The survey results also reflected upon few areas of improvement including– The Need for consistent communication with the entry level executives. Many front line executives felt that the industry took undue advantage of the term recession and even those companies who remained profitable used it to cut expenses and block annual appraisals. There seems to be a considerable lack of communication from the higher management on various issues leading to unnecessary confusion and a heightened sense of insecurity among the entry level professionals.
5. Majority of the respondents believed that the current crisis could have been handled in a better way. They almost unanimously asked for more accountability from the top level including the CEOs. Also majority of them, thought that their industry has performed relatively better than others.
6. There were a few surprise findings like many respondents especially those at the middle level advocated, that the job insecurity is directly proportional to better production, which implied that a bit of job insecurity is desired and acceptable, in order to get increased productivity from the employees.
“Many responses were on the expected lines barring a few findings which gave us new areas of research for the future. Also the findings of this survey helped us explore the probable pattern of the job related movement of these professionals, in the post recession scenario.” Said Amit Saxena, Founding Editor – BPOVoice.Com
A total of 552 respondents participated in the survey out of which 27 % were from the senior level, 62% from the middle level and the rest 11% from the entry level. The survey participants were mostly from India 64%, followed by UK and USA. The data collected was examined by Infinit-O (A leading, Philippine based BPO company) and Magdalena Szarafin (Chairman of IAS/IFRS Practice Committee at German CPA Society) along with Team BPOVoice.Com
The complete survey report which has now been released is available for free and can be downloaded from bpovoice.com
About BPOVoice.com
BPOVoice.Com is an ever growing network of BPO professionals. Its focus is to endow its members with the news and up-to-date information from around the globe with its internal research as well as through knowledge of experts. This makes the resource more robust and gives a third dimension to conventional views on outsourcing business.
BPOVoice.com also specializes in creating online buzz through event promotions, niche blogging, focus new launches, latest trends or company profiles exclusively for the outsourcing industry. For more information, visit BPOVoice.com or write to info@bpovoice.com
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The middle level executives seemed to be under more stress at the moment in comparison to others and won’t mind making a job switch to even a lesser known brand if offered a lucrative deal.
The Key Observations of the survey were:
1. The survey results pointed towards an important indicator - A high rate of attrition may be observed among the middle level executives, in the post recession scenario. It seems as if, the companies will have a tough time retaining their quality talent at the middle level as they were the one most eager to quit their present organization, as per as the survey results. Also, the middle level executives seemed to be under more stress in comparison to others which could have influenced their opinion regarding making a job change.
2. One of the positive findings of the survey was the larger acceptance among the outsourcing/BPO Professionals about the need to put a temporary cut on the expenses or to increase work pressure, in sync with the demand and requirement raised out of the unprecedented financial crisis. The respondents were sharply divided over using layoffs as a part of cost cutting strategy. Surprisingly the senior level respondents were the most vocal against it.
3. Majority of the respondents said they will recommend their company to their friends or relatives which indicated that, they still view their current organization as a trusted employer and haven't lost their faith in the management. However, the entry level respondents were not too enthusiastic about the same.
4. The survey results also reflected upon few areas of improvement including– The Need for consistent communication with the entry level executives. Many front line executives felt that the industry took undue advantage of the term recession and even those companies who remained profitable used it to cut expenses and block annual appraisals. There seems to be a considerable lack of communication from the higher management on various issues leading to unnecessary confusion and a heightened sense of insecurity among the entry level professionals.
5. Majority of the respondents believed that the current crisis could have been handled in a better way. They almost unanimously asked for more accountability from the top level including the CEOs. Also majority of them, thought that their industry has performed relatively better than others.
6. There were a few surprise findings like many respondents especially those at the middle level advocated, that the job insecurity is directly proportional to better production, which implied that a bit of job insecurity is desired and acceptable, in order to get increased productivity from the employees.
“Many responses were on the expected lines barring a few findings which gave us new areas of research for the future. Also the findings of this survey helped us explore the probable pattern of the job related movement of these professionals, in the post recession scenario.” Said Amit Saxena, Founding Editor – BPOVoice.Com
A total of 552 respondents participated in the survey out of which 27 % were from the senior level, 62% from the middle level and the rest 11% from the entry level. The survey participants were mostly from India 64%, followed by UK and USA. The data collected was examined by Infinit-O (A leading, Philippine based BPO company) and Magdalena Szarafin (Chairman of IAS/IFRS Practice Committee at German CPA Society) along with Team BPOVoice.Com
The complete survey report which has now been released is available for free and can be downloaded from bpovoice.com
About BPOVoice.com
BPOVoice.Com is an ever growing network of BPO professionals. Its focus is to endow its members with the news and up-to-date information from around the globe with its internal research as well as through knowledge of experts. This makes the resource more robust and gives a third dimension to conventional views on outsourcing business.
BPOVoice.com also specializes in creating online buzz through event promotions, niche blogging, focus new launches, latest trends or company profiles exclusively for the outsourcing industry. For more information, visit BPOVoice.com or write to info@bpovoice.com
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Contact
BPO Voice
Amit Saxena
921-270-0723
www.bpovoice.com
Amit Saxena
921-270-0723
www.bpovoice.com
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