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Pramod
Bhasin, President and CEO, Genpact, speaks to Q: Wasn't Gecis' GE linkage a big pull for prospective employees? Wouldn't Genpact have to compete harder to attract talent now? A: Indeed, the GE lineage made the sailing much easier for us. Thanks to the GE tag, we never had to face any credibility issues. In our eight-year-long association, we imbibed the GE work culture completely. Today, we have our own individual market presence and strong brand equity. We are known as a serious company and a world-class employer. The fact that one of the country's top business publication has chosen us as one of the best companies to work for, says it all. Having said that, let me also point out that our connection with GE is as alive in Genpact as it was in Gecis. The only difference now is that we are no more a captive outsourcing unit of GE. Q: Why did GE pull out from Gecis, specially at a time when other global IT bigwigs were firming up their BPO operations in India? A: It is not that GE has abandoned us. The group still holds 40 per cent stake in the new entity, Genpact and 85 per cent of our business, across the six countries we are present in, is still GE's. Why they divested their 60 per cent share is simply because Business Process Outsourcing is not a strategic business area for the group. In fact, we also wanted to be on our own because we had built enough competency to handle businesses other than GE's. The current equation serves both the parties well. Q: It is alleged that Genpact is a tight-fisted company when it comes to wages. What explains your conservative remuneration policy? A: We believe in rightful and realistic wages. We strongly feel that fat pay checks are not the rights means of attracting talent. High salaries impact the cost-effective business model of BPOs on one hand and build wrong hopes among employees on the other. Those starting their careers at an early age need good training, guidance and exposure to best global business practices more than money. We have never had to face talent crunch because of this policy. Instead, we get the best of people and our employees stay with us for twice as long as with any of our rivals. Q: BPO industry continues to suffer from high attrition. What, according to you, should be done to stem the problem? A: A strict hiring policy, which helps in weeding out non-serious candidates, is the first step towards curbing high attrition. Youngsters tend to take up a BPO job as a stop-gap arrangement, which is an unhealthy trend for the industry. Then, over-qualified or under-qualified candidates should also not be entertained as they would either not stay or will find it difficult to adapt to the culture. Secondly, employers should not raise unrealistic hopes among candidates by making tall promises. Our understanding has been that employees leave faster if they have high expectations from employers. Once on board, the personal and professional future growth of each and every individual should be well taken care of. Q: Will the recent study on "inhuman" working conditions in BPOs impact hiring? A: Not at all. These false alarms are being raised by people living in the 18th century. My question is why don't they raise such concerns about people in the airlines or railway or any other such industry where people work overnight and in much worse conditions. It's a known fact that BPOs offer the best working atmosphere and facilities across sectors. In fact, Genpact in its previous avatar as Gecis was adjudged the best unit in terms of employee satisfaction across all GE departments. The younger generation today understands the challenges and the requirements of modern day businesses. I am sure they are not going to pay any heed to such unwarranted criticism.
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