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Employee Retention Strtegies in BPO 4

Employee Retention Strtegies in BPO 4

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Published by bond99999
this employee retention stategies in pbo is complet report about bpo
this employee retention stategies in pbo is complet report about bpo

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Published by: bond99999 on Mar 06, 2011
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05/01/2013

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BPO SECTOR INDUSTRY
Business process outsourcing
Business process outsourcing (BPO) is a broad term referring to outsourcing in allfields. A BPO differentiates itself by either putting in new technology or applyingexisting technology in a new way to improve a process.
 Business Process Outsourcing (BPO) is the delegation of one or more IT-intensivebusiness processes to an external provider that in turn owns, administers and manages theselected process based on defined and measurable performance criteria. Business ProcessOutsourcing (BPO) is one of the fastest growing segments of the Information TechnologyEnabled Services (ITES) industry.Business Process Outsourcing includes the following areas and a lot more
Back office operations
Customer Relationship Management
Call Centers and telemarketing
Tele-servicing and product support
Payroll maintenance
Finance / Accounting/billing
Human Resources
Logistics Management
Supply Chain Management
Medical transcription
Back Office Operations
Insurance Claims Processing
Legal database maintenance1
 
The BPO Industry
The BPO industry has flourished at a frantic pace in the last few years and companieshave ended up with huge savings by being a part of the industry. By outsourcing their back office business processes to cheaper nations like China, India, Philippines, Mexico,South Africa etc companies can cut costs, better concentrate on their core businesses andstrengths, ensure better customer satisfaction and in a way get an edge over their competitors. A report suggests that US firms have saved nearly $8 billion throughoutsourcing to third world nations like India. 
Benefits of BPO
Increase productivity
Cut operational costs
Provide better service
Save costs
Improved accountabilityThe BPO boom seems to be increasing everyday with more and more companiesdeciding to follow the race, making conditions really viable for a positive growth in theBPO industry. You can make money online through BPO.
Reasons for outsourcing 
Organizations that outsource are seeking to realize benefits or address the followingissues:2
 
Cost savings
. The lowering of the overall cost of the service to the business.This will involve reducing the scope, defining quality levels, re-pricing, re-negotiation, cost re-structuring. Access to lower cost economies through off shoringcalled "labor arbitrage" generated by the wage gap between industrialized anddeveloping nations.
Focus on Core Business
. Resources (for example investment, people,infrastructure) are focused on developing the core business. For example oftenorganizations outsource their IT support to specialized IT services companies.
Cost restructuring
. Operating leverage is a measure that compares fixedcosts to variable costs. Outsourcing changes the balance of this ratio by offering amove from fixed to variable cost and also by making variable costs morepredictable.
Improve quality
. Achieve a step change in quality through contracting outthe service with a new service level agreement.
Knowledge
. Access to intellectual property and wider experience andknowledge.
Contract
. Services will be provided to a legally binding contract withfinancial penalties and legal redress. This is not the case with internal services.
Operational expertise
. Access to operational best practice that would be toodifficult or time consuming to develop in-house.
Access to talent
. Access to a larger talent pool and a sustainable source of skills, in particular in science and engineering.
Capacity management
. An improved method of capacity management of services and technology where the risk in providing the excess capacity is borne bythe supplier.
Catalyst for change
. An organization can use an outsourcing agreement as acatalyst for major step change that can not be achieved alone. The outsourcer becomes a Change agent in the process.3

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