In the eon of liberalization, privatization and globalization, organizations are pushed to be both resourceful and effectual. In this pursuit, it is imperative that organizations should have right people with right attitudes and skills. Every organization is competing with each other to grab the right kind of workforce share instead of market share. Business world has accepted the fact that their survival mainly depends upon their ability to attract, motivate and retain the key employees. Thus the substance of human resource over other factors of production cannot be denied. Organizations are striving hard to create, develop and retain their talent pipeline. The importance of human resource as a source of competitive business advantage has increased even more because of transition of manufacturing industry to service industry. As business in service sector heavily relies on competencies, skill and attitude of their manpower, it is imperative in service industry to create, nurture, develop and retain this valuable resource. The changes in demographic factors, e.g., rising educational level, entry of more and more women in workforce, various job options, etc., are making employees more prone to leave the organizations for greener pastures. Therefore, attrition, retention and talent management have become the buzz word in the corporate arena. No sector in Indian corporate world has been able to escape from this phenomenon of attrition. Every sector is facing mild to moderate attrition of employees. But Indian Business Process Outsourcing (BPO) sector is hard pressed with this problem having the highest attrition rate among other sectors.
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