Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

US$ 50 bn industry losing shine?
Thu, 8 Nov Pre-Open

The Business Process Outsourcing (BPO) industry really put India on the world map. Phone calls from across the globe were redirected to India, where employees with fake accents and fake names would provide assistance. These firms saw tremendous growth over the past few years and now even the domestic market is expanding. Yet, there is a lot of underlying dissent within the ranks. India's US$ 50 bn BPO industry has a problem. But they don't have anybody to call to fix it?

BPO companies are struggling to hire the right talent. A few years back, a BPO job was considered prestigious and was a ticket to India's upcoming middle class. But, potential candidates have now opted out of these jobs and have instead opted for more traditional ones in retail, banking and manufacturing spheres. One of the major issues that this industry is facing is that employees do not find these jobs attractive enough. The late hours, lack of job satisfaction and opportunities for employees to grow, learn, and be engaged are making these jobs less desirable. This is despite the perks of working in plush offices, decent pay packages and car drop-offs and pick-ups. The low skill requirements are also leading to poor career growth. Retaining an expensive senior costs more than hiring a new employee on the floor.

According to a study by consulting firm Gallup, only 1 out of 3 BPO employees intend to stay with the organization for more than two years. Plus young aspirants in India usually look at their seniors in order to mentor them on their career path. Indians rely on people from their social network, and usually act on their advice. Not many of these trusted sources would vouch for a job in the BPO industry. Hence, many new job entrants are choosing other fields.

So what can the industry do in order to repair its image for potential employees? Well, firstly it needs to boost employee engagement measures. This will help affect loyalty and advocacy in the industry. Plus leaders need to make sure that employees understand their role in fulfilling the firm's mission and understand their personal growth path. They need to be able to steer their staff in the right direction.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "US$ 50 bn industry losing shine?". Click here!

  

Stock Market Updates

Sensex Trades Marginally Lower, Dow Futures Up by 174 Points (Today's Market)

May 14, 2021 12:30 pm

BSE Sensex is trading down by 29 points, while the NSE Nifty is trading down by 39 points.

Sensex Opens Flat; Asian Paints Rallies 7% Post Q4 Results (Today's Market)

May 14, 2021 09:30 am

Indian share markets open flat. The BSE Sensex opened down by 33 points, while the Nifty is trading lower by 14 points.

ADANI TOTAL GAS Share Price Down by 5%; BSE 500 Index Down 0.1% (Today's Market)

May 14, 2021 09:34 AM

ADANI TOTAL GAS share price is trading down by 5% and its current market price is Rs 1,330. The BSE 500 is down by 0.1%. The top gainers in the BSE 500 Index are ASIAN PAINTS (up 6.7%) and BANK OF INDIA (up 5.7%). The top losers are ADANI TOTAL GAS (down 5.2%) and VINATI ORGANICS (down 7.1%).

JINDAL STEEL & POWER Share Price Down by 5%; BSE METAL Index Down 2.4% (Today's Market)

May 14, 2021 09:32 AM

JINDAL STEEL & POWER share price is trading down by 5% and its current market price is Rs 466. The BSE METAL is down by 2.4%. The top losers are JINDAL STEEL & POWER (down 5.3%) and NMDC (down 5.3%).

BANK OF INDIA Share Price Up by 5%; BSE BANKEX Index Up 0.3% (Today's Market)

May 14, 2021 09:28 AM

BANK OF INDIA share price is trading up by 5% and its current market price is Rs 77. The BSE BANKEX is up by 0.3%. The top gainers in the BSE BANKEX Index is BANK OF INDIA (up 5.2%). The top losers is HDFC BANK (down 0.2%).

GRINDWELL NORTON Share Price Up by 8%; BSE CAPITAL GOODS Index Up 0.4% (Today's Market)

May 14, 2021 09:26 AM

GRINDWELL NORTON share price is trading up by 8% and its current market price is Rs 1,259. The BSE CAPITAL GOODS is up by 0.4%. The top gainers in the BSE CAPITAL GOODS Index is GRINDWELL NORTON (up 7.7%). The top losers are L&T (down 0.3%) and V GUARD INDUSTRIES (down 0.4%).

View More Indian Share Market News

Most Popular

Is Intraday Trading For You?(Fast Profits Daily)

May 13, 2021

Do you think you have what it takes to be an intraday trader? Find out in this video.

My Secret to Find Breakthrough Stocks(Fast Profits Daily)

May 7, 2021

I've used this trading technique for many years with great success. I'm sharing it with you today.

Are the Stock Markets Deaf to Covid Agony?(Profit Hunter)

May 6, 2021

Why are markets discounting the economic impact of Covid?

The Key to Profit from India's EV Revolution(Profit Hunter)

May 7, 2021

Stocks you must consider investing in before buying your first electric vehicle.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


May 14, 2021 (Close)

MARKET STATS