How Outsourcing Companies Prvent Talent Pool Depletion

March 15, 2017

Industrials

How Outsourcing Companies Prvent Talent Pool Depletion

Some industry experts are saying that the future of outsourcing looks promising considering the growing demand for outsourcing services.  However, this does not seem to be the case in some parts of the world as industry experts are beginning to see disparities between the supply and the demand for professionals and skilled employees in the outsourcing industry.

Based on recent events, it is quite possible that outsourcing companies will soon see depletion in the pool of skilled employees and professionals who would be interested in working in the outsourcing industry. This is already evident in India, which is why outsourcing companies as well as the Indian government have been taking steps to find and employ qualified and skilled individuals in order to ensure that their talent pool will not be depleted.

As an example of the emerging supply and demand challenge in the outsourcing industry, business process outsourcing firms in the Philippines are currently looking for 20,000 qualified applicants for dayshift positions.  It can be expected that aside from the dayshift positions, there will be more employees needed for night-shift jobs considering that 80% of the clients of Philippine outsourcing companies are from the US.

Recent research from ContactBabel, an analyst firm for the contact center industry, showed that contact centers would be increasing investment on training and hiring new employees. It is often that Human Resources are one of the many functions of a company that is being sacrificed when it comes to reducing the budget. But according to Steve Morrell, who is the author of the report, what is happening now is actually the opposite; human resources, training included, are now being deemed as one of the top priorities of a company. Last November 18, 2010, Sitel, a global contact center outsourcing firm, sought the help of company, inContact in training their agents. Now, agents are being asked to complete eLearning and eCoaching courses for them to be able to enhance their skills.

Another means to capture and maintain the interest among jobseekers in the outsourcing industry is to show them that there are greater benefits and rewards in this industry. Other outsourcing companies from different specializations other than the contact center field are planning wage increases to attract new employees as well as retain current ones. Aon Hewitt, the human capital consulting and outsourcing business firm of Aon Corporation (NYSE:AON), announced earlier this month that they will be implementing salary increases which would be higher than previous increases they have had in the previous years. Other companies such as Infosys (NASDAQ:INFY), Wipro (NYSE:WIT) and Tata Consultancy Services Ltd. (NSE:TCS) during the middle of this year also implemented wage increases for their employees. Notably, the increases done by Infosys Technologies and Tata Consultancy were deemed to be one of the highest salary increases in the industry at 17%.

While outsourcing companies will soon be feeling the pressure of meeting the demand and filling their vacancies, employing tried and tested strategies as well as finding new incentives just may help them weather through this storm hovering ominously over the outsourcing industry.

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