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- Jayan CM
With attrition rates increasing dramatically, firms are finding it difficult to retain their top executives. The BPO sector in particular feels that if you have more people who can be employed, the concern of attrition would not be as serious as it is today.
Experts believes that there are nearly three million students roll out of colleges every year, but only a less than 10 percent make their way to BPO sector. The exact figure are not available, but the survey reveals random figure that for every 100 who apply for job only five to six people gets the call.
So to address this attrition rate, BPO companies are coming out with new strategy, where they will tie up with Colleges or University, and screen final year students. The selected candidate will then work at the BPO unit for a period of five-six months. Upon finishing their graduation, students will have an option to either join that company or any other of their choice. The company enters into a MOU (memorandum of understanding) and tie-up with any college or University where they impart training to students.
Take for example the BPO Giant Infosys who have signed two MOU with a University in Kolhapur and with Karnataka University.
The biggest challenge the companies find in fresh graduates is their lack of ability to speak and write good English, and companies like Infosys add in their curriculum materials that are mainly about improving communication skills.
Infosys was the company who initiated this drive to counter attrition today claims to have brought down the attrition rate to 37 percent this current year compare to last years 43 percent. Towards building the foundation for future growth, the company aggressively aims to increase its head count from 11,226 to 15,000 and enhance revenue to $ 250 million from last years $148 million.
Infosys like many company seems, committed to bring down attrition to its normalized levels and ensuring that their employees have world-class opportunities to develop their talents and careers.
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