The industry's highest immediate concern is the rising attrition rates. The software business faces a significant HR difficulty due to high attrition. Human resource managers have restless nights as a result of it. Most software businesses see high turnover rates. It reveals the internal strengths, limitations, and capabilities of an organization. Additionally, the organization has trouble attracting new hires as well as keeping its current workforce. In addition to the fact that knowledge workers and labour expenditures are among the biggest expenses consistently added to a company's budget in the software industry, managing attrition is becoming more and more crucial.
Companies make significant financial investments in their employees when one takes into account pay, benefits, bonuses, training, and other personnel costs. Attrition thus becomes a cost-related issue as well as a retention one for highly desired and frequently experienced people. This study aims to identify the major factors contributing to the rise in employee attrition in the BPO sector and to provide preventative measures. An analysis of employee attrition in selected BPOs was conducted as part of the study. In this study, different situations for taking a BPO job and employee demographic data were collected for examination. Employee surveys show that individuals with experience between two and four years and an average age of 24 to 28 years have higher percentage of attrition.
Key words: Attrition Rate, Human Resources, Data Driven Growth
|
