In order to retain talent, there is lots of company benefits laid out to reduce the attrition rate among BPO employees. These prove to be a motivating factor for the BPO professionals to contribute to the overall progress of the company.
This article is a little specific to the BPO sector in India.
1. Provident Fund and Gratuity: These are 2 schemes chalked out for the benefit of private sector employees. Provident fund is administered under the GOI (Government of India), where both the employer and the employee are required to contribute a certain percentage.
The fund so accumulated is due to the employee at the time of retirement and can be availed of prior to that for any personal purposes. Gratuity is given to the employee as a motivation to serve for longer periods where a portion of the last drawn salary would be multiplied with the number of years served in the organization at the time of leaving.
2. Group Medi-claim Insurance Scheme: This scheme is adopted by companies to safeguard the requirements of employees with 2-3 dependents. The coverage for medical expenses, disease etc depends on the value of the scheme and the insurance company. All dependent members of employees are covered under this scheme
3. Free transportation and subsidized food: With the unconventional work timings and interference in biological clocks of the staff, BPO employees are often given subsidized food coupons. Free conveyance from homes to office is also provided which goes a long way in maintaining company discipline
4. Accommodation: Many BPO companies provide shared accommodation as one of the company benefits. This is mostly for the employees who need to commute a long distance and for those who need to relocate. If this is not the case, companies offer to take care of electricity/water bills and other related payments for accommodation.
5. Relaxation and Recreation: With the high levels of stress and rigid timings, it is no wonder that BPO employees are spoilt with a plethora of recreation facilities. Depending on the company, these include gymnasiums, swimming pools, chess, carom games, a concierge as well as coffee shops.
6. Credit Card facility: Many BPO employees have to undertake travel from time to time for official purposes. Hence, corporate credit cards are supplied with the intention of allowing them to make timely payments to allow smooth discharge of duties. The credit cards supplied take care of expenses such as hotel stays, air tickets and restaurant bills etc incurred during official trips.
7. Laptops and cell phones: With most companies having virtual office systems, BPO employees work best with laptops. These enable them to continue working when required even after they leave for home to take care of urgent matters. Mobiles connections and cell phones are also a common company benefit which allows the employee to remain reachable at any time of the day. These assets are naturally to be safely maintained by the employees.
8. Medical check-ups: With the time in hand of BPO employees always stretched to its limit, most professionals ignore physical ailments to the point of exacerbation. Hence, some BPOs provide personal health care and arrange for medical health check-ups routinely for their staff.
9. Loans: Employees working in BPO companies can avail of loans provided for specific purposes as laid out by the company. These are to help them tide over the financially tight periods in their lives such as marriage, relocation, house construction etc.
10. Incentives based on performance: There are performance related incentive schemes adopted by many BPO companies which have a direct influence on productivity of BPO employees. The parameters usually are accuracy, quality, speed and output.
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