Attrition in the UK is on average about 15% per year, varying between industries. Although employee turnover is a healthy and natural part of organisational and career development, it is also a burden on business that most employers would not like to have at these levels.
In the business process outsourcing (BPO) industry, attrition rate is a key data point discussed with prospective clients. It is a measure of how much time the service provider will be spending reorganizing processes and retraining staff. Some countries, such as India and Philippines, have seen the attrition rates in BPO surpass 30%, which is the result of a treacherous cycle in which employers no longer invest in their employees, which in turn is detrimental to employee loyalty.
Particularly for services such as our content moderation, ensuring happy and healthy employees is critical to continuing to provide quality service. Despite our use of automation and robotics, the people who work and manage these processes are the cornerstone of our services.
At Taskeater our unplanned attrition for 2016 so far is 8%, which we are extremely proud of. We believe this stems from some of the key initiatives we have put in place in order to maintain a more healthy working environment.
Why Our Attrition Rate Is So Low: Our Key Initiatives
Our employees are not bound to the BPO industry, but join us from other industries such as banking, hospitality and advertising. Similarly, our employees rarely find their next jobs in BPO. This way we are not placing ourselves in the typical struggle over talent with industry peers, but are able to differentiate ourselves in the job market.
We have implemented a highly transparent Quarterly Performance Review system which assesses employees on a five-point matrix system measuring Quality of Work, Client Satisfaction, Respect for Company Policy, Contribution to Company Culture and Attendance. This makes appraisals and the feedback loop more straight-forward than in less defined career environments.
Our employees have direct access to our clients, which promotes a team dynamic characterized by trust and communication efficiency. Our employees and clients get to experience different cultures through the multinational teams that are formed.
We have implemented what we call a Scandinavian-style management philosophy in which every member of management is open to every member of staff. In the emerging world this is relatively unheard of, however, in the developed world it is also surprisingly not as fully universal as it should be in 2016. At Taskeater, not a single management team member has a private office.
We have seen that a strong company culture fights off attrition. Our recent decision to move into new, more costly office facilities in Dhaka early February 2017 was greatly motivated by the need to continue investing our office environment so that our employees can be proud to bring their families and friends for a visit.
A Final Word on Attrition…
Perhaps companies in other industries can learn from the BPO industry, for which managing attrition is business-critical. The needs of employees are universal, including clear career progression, ongoing learning, organisational transparency and job satisfaction, and therefore attrition may be one of the few corporate metrics which both employer and employees can agree that improving it benefits all stakeholders.
You can check in with the Taskeater employees on our Instagram account, where we like to celebrate our office culture and the global Taskeater family.