Business process outsourcing and retention
There are two major factors in a business: the employees and the customers, without them, there is no business at all and the business process outsourcing owners are in a constant battle to retain both.
Employee turn over is not new, but the fact that in some business process outsourcing companies, the turn over is higher than other outsourcing services companies, provides key challenges of employee retentions. Of course in the business process outsourcing environment there are always voluntary reasons, like employee striking out on their own, retirements. There is little to prevent of this type of turn over in the business process outsourcing industry, but still the employees will nee replacement.
Also, we can have what it is called good turn over, when a bad hiring decision was made and the employee gives good reasons to affect the moral of the team and provides more troubles than good reason to become part of the business process outsourcing team. When this happens the business process outsourcing company needs to identify what was the failure during the hiring process. Of course in this case we are taking about the worst case scenario.
The cost of turn over is high for the outsourcing services environment due to the high cost in training, searching and hiring process and the learning curve that every employee has, no matter how experience the employee is in the field.
But what is the best ways to retain the employees in the outsourcing services?
Of course salary is important to employees, but there are also another considerations that for an employee are important to be happy and productive in the working environment.
Constant training represents to the employees opportunities to grow in the company and also satisfaction to the customers, because the business process outsourcing company will have employees with the appropriate knowledge to fulfill all job requirements.
Incentives to do the extra miles in the business process outsourcing work are not necessary only money, as an important fact is verbal and written rewards from the management and if it is an outstanding work in from of the team. Recognition is vital to employees. The outsourcing services companies require motivated employees at all times to achieve business goals.