Indian IT companies reduced their hiring phase due to international financial crisis, but the pure Indian BPO Companies are planning to increase their hiring, hoping that they will get more business from US and other western companies.
BPO sector in India is smarting under the pain of global financial meltdown—it is obvious for the plethora of suspicions, expectations, doubts, and forecasting to emerge and make waves among the industry. The most obvious thing that we can expect is that the Indian BPO industry will remain on tenterhooks for some time. Presently, even the experts can expect and can’t calculate exactly. For the last 10-12 days, the global financial meltdown has sent shocks across the world—the prices of oil, value of money, and export have suffered a lot and have seen a lot of changes. Outsourcing is one of the major part of export in India and it plays a significant role in the economy also.
The concept of outsourcing has provided the best opportunity for the Asian countries to establish themselves on the world map as economic giants. The question is interesting and intriguing: the century of Asian giants is coming? Yes, we are talking about China and India. What you think made them become one of the strongest economies of the world? It was the strength of their workforce that could withstand the demands of almost the whole world.
Indian based TCS said it has won the US publication Wall Street Journal’s global innovation technology award in the wireless technology category for 2008. Wall Street Journal has selected the company’s ‘mKrishi’ service, which offers mobile-based crop advisory service, as the winner of the award, a company release said. The award recognizes companies, individuals and organizations across the world for technological breakthroughs in areas such as medicine, software, internet, wireless and consumer electronics. TCS’ mobile-based crop advisory service, mKrishi, is a novel approach to help rural farmers across the country to have better access to information through a cell phone application. It has been developed to provide personalized information and expert advice to rural farmers in their local language using sensor technology.admin · Filed Under BPO Blogs, News | Leave a Comment
The bankruptcy of Lehman has a widespread impact and effect on Indian BPO market and the staff of these centers. Like me, you can also imagine that the employees of these centers are facing the utmost and acute problem of being jobless and in the consequential financial crunch. The running costs of living a life in major cities of any country could be high and similar is the case with India. Now that the employees have lost their job without any security of the finance or salary payments, they are on the cliffhanger of being swallowed by the financial requirements.
BPO industry all over the world is struggling to sustain the demand of quality workforce both in executive and managerial sector. BPO giants like India and Philippines are struggling to produce the managers that can give a sustainable lead to this industry and can also withstand the demands of the growth. In this issue, a report published by a firm, Development Dimensions International (DDI), gives an insight as to what Philippines is feeling: the report states that local BPO industry in Philippines has leadership issues.
News has been posted in various news and blog sites that Wipro and Copal Partners has shown interest in buying back office unit of Lehman brothers that filed bankruptcy protection. Not sure what will Wipro and Copal will do with the Lehman BPO uni. The Lehman BPO Unit’s 1,200 employee in India were working to support the parent company Lehman brothers. Without any work from the parent company I’m not sure what will these employees do?
Have you ever imagined that salary could be the most important reason for such a high attrition rate in Indian BPO sector? Yes, it is—as per the report published by BPO Special Survey, 2008 (more details), the attrition rate of business process outsourcing in India stands 7.8% higher than other industries. What is the reason behind this?
In what could turn out to be a real blessing for the state of Rajasthan, Infosys has opened its second BPO campus in the special Economic Zone (SEZ) in Jaipur, Rajasthan. This would help Rajasthan a long way in providing opportunities to young people in outsourcing industry.
BPO Research firm NelsonHall predicts Business Process Outsourcing market will grow to $450 Billion by the year 2012. Current economic conditions, organization’s focus in emerging markets like China and India are quoted as the main reasons for the growth of global BPO market.
For more details on the research report visit