Current average attrition rates (see http://www.bpoindia.org/research/attrition-rate-big-challenge.shtml; http://www.blonnet.com/2005/10/05/stories/2005100500271100.htm) are:
US 42%
Australia 29%
Europe 24%
India 18%
Global Average 24%
With attritions rates for BPO industry topping 50% in India and 70% in US. These data are claimed to be from NY Times but I could not verify them, at least the average for India looks suspiciously low.
ALL OF THIS TRANSLATES INTO ONE SIMPLE STATEMENT: THE LOYALTY OF EMPLOYEES IS DEAD (worldwide, by the way.) It's same like the loyalty of consumers died a decade+ ago. Compare with your own everyday experience: you can see a lot of great INTRODUCTION offers from service providers especially telecoms, insurance and financial institutions but there are a few, if any, RETENTION offers.
Thursday, May 10, 2007
Indian IT companies losing business because of high attrition?
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