| GS100: The Global Outsourcing Compendium | |||||||||||||||||||||||||
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The analysis of HR practices and employees during the GS100 study, clearly shows signs of a recovering economy. Last year, there was a substantial increase in hiring across the service provider landscape. While the average increase in head count has been 23% across the respondent to the survey; Band 1 (with annual revenue between 1M-10M) companies saw the highest growth at 31% and Band 3 (with annual revenue between 100M-1B) had the least with 16%.
Over the last one year, service providers made significant investment to decrease the attrition rate. The top 2 areas for this being a more comprehensive reward and recognition program, and increase in bonuses. This was closely followed by healthcare benefits and rotation among project teams. Nearly 63% in Band 1, focused on community service programs while Equity or stock ownership programs led the way in Band 2 (with annual revenue between 10M-100M) and 3.
While over 70% of companies have an initial training program of over 3 weeks and nearly 55% have an annual ongoing training program for 10 days and above; nearly 5% still continue have the same for less than 4 days.
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