BPO firms attract top talent from IT services cos in search of greener pastures

livemint.com:

Mint based on press releases and LinkedIn searches. The executives previously worked with Accenture Plc, Tata Consultancy Services Ltd, Infosys Ltd, Tech Mahindra Ltd, Mphasis Ltd, Cognizant Technology Solutions Corp, Persistent Systems Ltd, and DXC Technology Co. Also Read: How Genpact wrote the playbook for the reinvention of BPOs Analysts attributed the shift of senior talent to factors such as more lucrative and bigger roles for the executives, a slowdown in IT services, and BPOs looking to scale up their operations.

BPOs offer customer support to clients. Recruiters were divided over whether the rise of generative artificial intelligence (Gen AI) played a role in these job transitions. “The BPO world is becoming tech-oriented and driven by AI.

In the future, the BPO work will be tech-driven and those companies will need people who can understand that technology," said Navnit Singh, chairman and regional MD of executive search firm Korn Ferry. However, the managing director of an executive search firm downplayed the contribution of Gen AI in this talent churn as of now, saying there was scope for it in the future. One analyst said the slowdown in IT services companies led to the talent shift from 2022.

“The general slowdown in IT services firms and the senior tenure of many executives presents an opportunity for movement across the overall industry," said Ray Wang, CEO and principal analyst at Constellation Research. Also Read: Demand slowdown to weigh on IT services firms’ Q1 show Revenue for India's top two IT services companies, TCS and Infosys, grew 4.1% and 1.9% to end FY24 with $29.1 billion and $18.6 billion, respectively. TCS trimmed its headcount by 13,249 and Infosys by 25,994.