August 23, 2011: In this astonishing evolution of Indian IT and BPO companies, human resource has played a crucial role. Present scenario considers Human Resource as an asset and thus the importance of workforce management becomes crucial to forecast and manage the resources.
The IT and BPO sector in India is not the same it was decade ago; the changes are dramatic and overwhelmed. Now the emphasis is on well managed work force for productive functioning. Today workforce management is not only about assigning the right person at the right position. It is a commitment to leverage various functions across an organization to overcome the issues such as workforce leakages faced by the companies in Indian IT and BPO.
Sources for workforce or payroll leakages are many; planned and unplanned absence of employees, inaccurate scheduling of workforce, employee retention and absconding of employees are some.
Lack of proper workforce management system in the sector might be considered as the fundamental reason for workforce leakages. The current disadvantages faced by the sector because of manually managing the workforce could be minimized with the implementation of automated workforce management system.
Automated workforce management can present one stop solution for the firms which could enhance Human Resource practices of both established and emerging firms. It can straight away cut the extra cost incurred for employing people to maintain the records on human resource practices.
Implementation of workforce management must be an expensive step for many firms but it should be noticed that the long run benefits from the one time investment is immense. The implementation of automated workforce management system will put an end to workforce leakages which also promises better time scheduling, overtime reduction, reduce the time spend for forecasting, cost reduction in payroll extraction and ultimately the easiest solution for tracking absence and presence.
Managing the work force with cost effectiveness is a competitive advantage for companies in the Indian BPO and IT sector. Focus on the reduction of increased labor maintenance cost is very essential. Workforce leakages are a major threat which could be minimized by the implementation of automated workforce management system. The system is very essential and the company which has already accepted the system is availing the benefits of the early decision taken.
India is now a nation well known in the world for its IT and BPO sector. With established companies and young brimming domestic players, the sector is in boom. Challenges such as workforce leakages should be minimized at the early stages to optimize better functioning of the companies across the industry.