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The Indian ITES-BPO segment has witnessed a steady growth. India is the most favored destination for outsourcing. In 2003-2004, ITES-BPO companies were the largest recruiters in the IT/ITES sector, adding around 70,000 jobs. According to a research conducted by NASSCOM, Indian IT/BPO sector will employ more than 1.1 million Indians by 2008. Indian ITES-BPO exports grew from USD 6.3 billion in financial year 2005-06 to USD8.4 billion in financial year 2006-07. it is expected to grow to USD10.5-11billion in financial year 2008. Moreover, the ITES-BPO employee base has also grown to 553,000 in financial year 2007 from 415,000 in 2006. According to the NASSCOM report, domestic BPO market in India is expected to grow to US$ 7.6 billion in 2011. The segment is growing at about 40 per cent CAGR.
The domestic BPO segment is growing at 35-40 per cent a year and employs 1,50,000-2,00,000 people. The BPO market breakup by industry is as follows:

Financial Services: 17%
Communication (Telecom): 16%
Consumer Goods/ Services: 15%
Manufacturing: 9%
Information Technology: 43%

The Indian BPO sector is expected to witness a five fold growth in the coming five years. The industry is expected to be valued at $50 billion. Also, it is set to generate about two million direct jobs and eight million indirect jobs by 2012. the industry presently employs more than 7 lakh people.

The attrition rates and the retention have become the major threat and the biggest challenge for the human resource professionals of the sector. The attrition rate for voice-based BPO’s is around 55-60 per cent and 15-20 per cent for the non-voice based processes. In fact, the outsourcing industry is expected to face a shortage of 2,62,000 professionals by 2012.

NaukriHub Rankings attempt to rank companies on basis of various HR practices, procedures and policies prevalent in Insurance industry. Ten companies are selected on random basis and ranked on various parameters like recruitment practices, retention rates, compensation policies, work culture, recognition for good work, flexible work timings, et al. The scores are consolidated on the basis of data collected through recent surveys and studies conducted by renowned names like Business Today, Hewitt Associations, IDC Data Quest, NASSCOM and our own study of the organizations. Genpact, EXL services, Wipro BPO, vCustomer, Firstsource and 24/7 customer are some of the leading BPOs in India.