RocSearch and CII launch Outsourcing Study titled `Managing Skills and Knowledge in the Indian Services Outsourcing Sector`
Released on: December 17, 2007, 11:17 pm
Press Release Author: Gayatri Ojha
Industry:
Press Release Summary: Manpower woes continue to plague the Indian outsourcing industry as it grapples with the issues of sourcing, training and retaining skilled manpower while trying to sustain a rapid rate of growth.
Press Release Body: NOIDA, 18 December, 2007: Manpower woes continue to plague the Indian outsourcing industry as it grapples with the issues of sourcing, training and retaining skilled manpower while trying to sustain a rapid rate of growth. This crucial aspect is underscored in the latest white paper from RocSearch & CII, launched at the CII's 3rd Annual Outsourcing Summit held at New Delhi.
Key findings:
. Paucity of skilled manpower and lack of government support emerge as the most pressing issues facing the outsourcing sector.
. Every third organization in the study is facing a manpower shortfall upwards of 15%. Employability at the entry level remains less than 10% in almost half the organizations along with acute paucity at the middle management level, especially in smaller organizations.
. 82% companies feel that internal training resources are (or would be) inadequate in the wake of the emerging manpower situation.
. Attrition rate was reported at over 20% in almost half the companies and over 30% in every fifth company. Average career tenure ranged between 1-2 years for almost half the companies.
. Strategies suggested for addressing the situation include industry-institution interfacing & partnership, intra-industry collaboration for talent pool expansion, introducing skill-based quality certifications for training, supplementing existing training resources within the organization, creating structured retention programmes, focus on work enrichment & enhancement besides employee development, leveraging formal knowledge management programs to shorten learning curves and improve customer focus as well as to mitigate the impact of attrition on the organization
. The study also includes Caselets on innovative manpower sourcing model of Aspire and knowledge Management system at Satyam Computer Services, the winner of Know network's Indian & Asian MAKE - Most Admired Knowledge Enterprise - awards for the year 2007.
Says Ashish Sinha, COO, Rocsearch "The biggest challenge before BPOs is talent retention and finding skilled manpower. The only way to curb attrition is to train the existing employees and develop a career path within the same organization."
About RocSearch:
RocSearch is a UK-India based professional services firm providing research and analytics support services to Research and Consulting firms, Brand & Marketing Communication firms, Investment Advisory firms and Corporates. It provides business, market, financial and emerging markets research and analytics services with a focus on fact-based problem solving.
RocSearch helps support business development, client engagement, product development and thought leadership initiatives of clients globally. Its India-based knowledge centre is equipped with a growing analyst team capable of fulfilling dynamic custom research requirements and adapting to client-specific processes.
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