Wednesday, July 05, 2006

Now, It is CEOs' Attrition in India

Several top-level executives in the frontline offshoring companies have quit in the last one year drawing attention to the attrition in this segment. The good news, however, is that the movements are within the industry, in almost all cases, proving that it is just some readjustment and not a cause for concern...

Raman Roy who had started Spectramind in 1999, that soon became the No 1 BPO company in India and was sold off by Roy to Wipro.
Now Mr.Roy's planning his new venture QuatrroBPO.

Rizwan Koita and Jagdish Moorjani, who started Transworks, which was later acquired by Indian business group, AV Birla. The two have already started a company focusing on the healthcare space.
(Called ‘1shore’, the new company will offer end-to-end healthcare services and also provide financial services. They are currently in talks with a couple of US firms to provide end-to-end healthcare BPO. Read the story here)

Prashant Sahni quit as CEO Tecnovate-eBooker to start something fresh.

The Other CEOs/country heads who have quit in the last few months include...

Rakesh Chopra, as head of Amex offshore operations to EXL services
Romi Malhotra, as head of StanChart's offshore operations to Dell offshore Ops
RK Rangan, as head of Prudential offshore operations to Lehman's offshore

Convergys has lost two country heads in the past 12 months with Jaswinder Ghumman and Rakesh Chopra leaving, for some BPO heads movement has become par for the course.
Mr Chopra has travelled from Genpact to American Express, EXL, Convergys and back to Genpact.(Meanwhile Dr. Bawa Singh is the interim Vice President and Country Manager of Convergys India Press release)

Sunil Mehta, vice-president, Nasscom, told EconomicTimes India:

The industry is growing at 38-40% annually. Considering the growth, senior level
movement is not surprising.

Need more?

Aparup Sengupta GTL-Mumbai
K R Viswanath - CEO Epicenter (Mumbai based Collections co.)
R Mohan - CEO of Hinduja TMTR Venkatesh Iyer - President, NIIT SmartServe

The following fellows have remained in this industry...

Sujit Baksi - President vCustomer India - joined Lehmen Brothers - quit- joined Tech Mahindra
Ravi Chandaran quit HP to head ANZ Grindlay’s back office
Kiran Shah - moved from Bank of America to join Goldman Sachs BPO
Ravi Bhatia quit World Bank BPO to join Genpact
Rakesh Kumar - President Global VantEdge ( joined IntelliRisk )
Anshuman Kankan - Head India Ops ePhinay (F&A BPO) (joined COLT Telecom India Offshore Center)
Shailaja Puranik - COO/Head India ops. Sitel ( Now COO Vertex India )

There are instances of top honchos in BPOs leaving to explore options in private equity. Sanjeev Agarwal leaving IBM Daksh for Helion Venture Partners and Akshay Bhargav leaving Progeon to join 3i are cases in point.

The good news, however, is that the movements are within the industry, in almost all cases, proving that it is just some readjustment and not a cause for concern.

I like the comment of Shyamanuja about this trend ...

... we blame the 20-somethings for changing jobs because they prefer the canteen
of XYZ to that of ABC... They are at least are clear about why they are doing

Source: Global Services, Convergys Corp, EconomicTimes, The Time Magazine, GoldmanSachs, McKinsey & Co Alumi, Managing Offshore