BPOs waking up to attrition? Prevention better -no cure!!

BPO companies are beginning to realize that ‘no poach agreements’ really aren’t effective!!

Sudden ramp ups that follow client wins, have often meant attracting aspirants at a higher salary- as well as ignoring proper relieving letter and notice periods-both of which are only postponing the problem...

Earlier today, I was interacting with a hiring manager of one of the largest companies, and what he said was very enlightening. Quote

“How I personally am trying to manage is through showing my team members a strong career path and throwing intellectual challenges to them to keep them going. My company is not the best paymaster in the analytics market, however it caters to numerous businesses. So there is enough opportunity within the organization to pursue interests of an individual.

Thats an exposure that I bank upon to retain people. I tell them that if you stick to a place, it would be like an equity investment which would bear good returns in the long run.

I have been successful so far in keeping a score of 0% attrition in my team over 1.5 yrs. But there is little control that you have over the young mindset and personally I believe the salaries being offered today by organizations to attract people dont match up to the skill set that people bring to the organization. And nobody minds more money in the pocket !! Its a challenge for every manager which would last for another 2-3 yrs I guess.”

Unquote

Is this just an exception..or the beginning??