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Benefits of Effective Training

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Young people seeking training and education leads to surprising drop in unemployment figures (Martin Kornacki, 20 Jan 2010, Training journal, www.timesjournal.com)
A surprising fall in UK unemployment figures has been attributed to increasing numbers of young people turning to training and education to avoid the dole. The Chartered Institute of Personnel and Development (CIPD) says the latest figure of 2.46m jobless for the three months to November, which is down 7,000 on the figure for the previous three months, is due to swelling numbers of what are considered economically inactive students.

This is just one of the millions of examples that we can find to illustrate the benefits earned due to effective training

Introduction

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HCL BPO, a division of HCL Technologies Limited started its venture early in 2001 and is now a dominant player in the BPO field drawing revenue of USD 232.15 Million. With over 11,400 professionals operating out of India, UK and USA, HCL BPO runs 21 delivery centres.. HCL Technologies Limited – BPO Services focus verticals include Telecom, Retail, Banking/Financial Services, Insurance, Hi-Tech &Manufacturing and Media publishing and entertainment .Besides the company also offer their services in various areas of operations such as:
• Supply chain management
• Order to cash
• Finance and accounting services
• Knowledge and legal services
• Technical support services.
• Data management services
• Customer relationship management.
Employee first, trust, transparency, transformation and value centricity are some of the values that bond HCL BPO. (hclbpo.com)

The Challenge Encountered

HCL BPO was troubled by high rate of attrition just like most other BPO companies; it was an alarming 40% annually and was also struggling with low availability of skilled labour for direct employment without prior experience. As a result the profit margin was dropping considerably and that the company was anticipating a steep rise in expenses towards recruitment of new staff, training and development.HCL were increasingly eager to work out a strategy to build an atmosphere for an overall transformation to factors concerning the critical situation it was going through. The solution sought

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