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No hike in BPO entry-level pay pack for 6 years
By siliconindia
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Monday, 06 April 2009, 20:05 IST |
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New Delhi: The business process outsourcing (BPOs), who are mostly recognized for their hefty packages to freshers, have remained dormant in terms of any changes in the entry-level salaries of employees. The entry-level compensation packages have remained static for as long as six or seven years.
The constraints over any changes in the salary package is not due to negligence rather it's a conscious decision taken by the industry, reports The Economic Times. Firstsource, one of the top-notch BPO's has not hiked the entry-level pay for around four years and other BPOs like Genpact and Copal Partners have followed the same.
The prime rationale of the firms behind the stagnant hike is that there is no need for any more incentives to lure the freshers into the industry since the supply is always in excess of the demand. According to Pramod Bhasin, President and CEO of Genpact, the firms also invests a lot in training these young students, as they spend between 30 days to six months on training. He also considers this measure as a check on high attrition. "We do not want young students to join us merely because we offer them a higher salary. We want them to create their careers with us," said Bhasin.
Pinpointing the career advantages in the BPO industry, Aashu Calapa, Global Head of Human Resource at Firstsource said, "While starting salaries may not be exceptional the hikes come early." Most workers are likely to get their first hikes after either six months or one year of service.