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Software and business process outsourcing (BPO) industry body Nasscom has launched occupational standards guidelines for the sector, with a focus on training the right talent for the BPO sector.
Once widely followed, the standards would help companies clearly define competency levels, reduce training budgets along with ensuring relative ease in hiring.
The sector has one of the highest attrition in the country, with the rate touching 30 per cent in some companies.
For employees, such defined standards could translate into better career and skill planning with more clarity. Som Mittal, president of Nasscom, said the guidelines had been launched to provide a qualified and trained talent pool.
“It would pave the way for students, industry, and academia to garner the best opportunities available and come together to contribute to the growth of the industry.” Access to skill would be a key growth driver for the sector with more requirements in domains like banking, financial services and insurance, health care and retail, Mittal added.
On the sidelines of the annual BPO strategy summit, Nasscom also said annual revenue should touch $50 billion by 2020, growing at a rate of 13 per cent yearly. Currently, the revenues stand at $20.8 billion. The global BPO spend is expected to grow at six-seven per cent yearly to $233 billion by 2020 and the country would increase its share in the pie from 37 per cent to 40 per cent.
The key drivers of the increase would be changing regulatory conditions in healthcare and banking and financial services in the United States, along with increasing usage of business process as a service (BPaaS) model and popularity of data analytics, etc. Under the BPaaS model, companies offer an integrated deal with infrastructure and analytics, etc, to clients.
Rohit Kapoor, vice-chairman and chief executive at BPO firm EXLService said that 10 per cent of the company’s revenues come from BPaaS currently, which is expected to go upto 25 per cent in the next 2-3 years. “This drives non-linearity in firms and reduces the dependence on manpower,” he said.
Nasscom also announced the top 15 BPO exporters in the country, with Genpact being the top service provider followed by Tata Consultancy Services BPO and Serco Global Services.
