KNOWLEDGE PROCESS OUT SOURCING OR KPO
Many countries are now looking at India for highly technical and knowledge related tasks giving birth to KPO which are firms that provide technical and functional services to global giants.
There are many factors which clients review before they outsource to a KPO in India. Knowledge Process outsourcing firms (better known as KPO) are here to explore the bank of talent in India. The clients consider, the nature of work done and then the various verticals that the organization specializes in and the kind of specialized manpower available in the company.
Here a key challenge for KPO is to attract the required professionals and hone their skills to deliver. To move up the value chain, companies need to specialize in an industry vertical and build deep knowledge of the business needs of the industry .To achieve this, it is necessary to nurture the talent pool, because technical skills will be rendered obsolete every few years, but like good wine business knowledge becomes more valuable with experience.
It is therefore certain that KPO will value their employees and treat them as important assets. Also, this would translate into frequent appraisals to meet industry standards for retaining potential employees, making it a win-win situation for those in the industry.
It is evident that the KPO industry is poised to be the next big employer in India besides being a massive revenue generator. It is already luring potential candidates with the promise of a world-class working environment and mouth-watering pay scales. For a nation like India where students graduate out of professional courses year after year KPO could prove to be a boon providing befitting employment with good pay.
Employers argue that having grown up in the techno age, the younger employees process information quickly but many older workers havenâ€™t developed these skills, because they didnâ€™t need them growing up, which have made them more attentive to details. Experts feel that the generational gap can be used to serve different interests in an organization and can be an advantage to the multi-generational team instead of a source of conflict.
Itâ€™s an irresistible force, and itâ€™s on the rise A few years ago outsourcing outfits were looked upon as sweat shops Now a few organizations are moving upstream, swinging into such high value services as consulting, integration, and architecture. Increasingly, these organizations are competing with global giants and winning.
It shouldnâ€™t be surprising that the global need to service knowledge based functions is marching with well deserved confidence to India not only because of the cost differential but also because India has a huge bank of highly capable doctors, lawyers .professors .researchers, analysts, engineering, pharmacy and Bio-tech graduates among others. These services provided by all these professionals will soon be valued across the globe if they happen to work for a KPO specializing in their subject matter of expertise.
Much has already been written about KPO overtaking Business Process Outsourcing (BPO) with respect to potential and pace of growth. But apart from all the numbers predicting the extent of growth exploring why India is on the global wish list, one obvious reason would be that many Indians abroad have been successful in these professions, thus marketing a brand for the workforce in India.