Human Resources Practices for Retention in Business Process Outsourcing Industry in National Capital Region

Author:S.K.S. Yadav1*, Vikas Kumar Joshiya2

Abstract:
The most challenging job in today's competitive world for any organization is identifying, recruiting, and retaining a high-quality workforce. It is a fact that talent retention is a strategic tool to ensure competitive and corporate performance. In the war for talent, talented employee retention is getting more challenging day after day and continues to top the list of CEOS' priorities. Today, most forward-thinking managers realize that having valued employees is what differentiates them from their competitors. Good people make an organization survive and flourish. With this awareness- comes that rapidly increasing focus on retaining key talent. Jobs are becoming more painful as the economy improves, and avoiding the possible attrition of talented workers needs extra attention. While some employee turnover may be considered unavoidable, job-hopping has been assuming proportionately large enough to cause concern to employers in recent times. This trend is not specific to any industry. Low retention is seen in almost all fields, but it is undoubtedly alarming in the B.P.O.s. In a highly competitive market, it has become imperative for B.P.O. organizations to look into the causes of low retention and develop a strategy for retaining one's employees. Increased employee turnover levels need to be monitored and managed carefully as they eventually affect the performance of the outsourcing organizations. Understanding the causes for low employee retention is the first step in developing employee retention strategies. Employee retention strategies provide effective employee communication to improve commitment and enhance workforce support for critical corporate initiatives. Meaningful work, work-life integration, respect for the individual, job security, and flexible work design are necessary ingredients of a successful talent retention strategy. This study mainly deals with analyzing the various retention strategies that B.P.O. companies use to keep top talent.

Keywords:Key Words: talent retention, outsourcing, strategy, job satisfaction.

DOI:10.46333/ijtc/10/1/3

International Journal of Trade & Commerce (Vol: 10 Issue:1)