The Market Research industry is just about Rs.490 cr, with a growth rate of ~30%. Of late a lot of business is being outsourced from overseas. The increased business from overseas can be attributed to a booming Indian economy, looking hard one would see that it is primarily due to India figuring among the "researched countries".
With expanding markets, there is a need to gauge the growing demand and understand sentiments, attitudes of people, thereby India figures as one of the countries which is under the magnifying lens. And also an age old advantage of a growing economy being less expensive than a developed one. With manday rates much lower than that found in most developed countries, most overseas set-ups prefer to use India for key process outsourcing.
High attrition rates, to the tune of ~30%, lend to its similarity to the IT or the ITeS industry. Sadly however, although the attrition rate matches up to these industries, the remuneration does not. And although agencies claim that they are introducing processes to make their companies employee friendly, the pressures to meet the bottomline are far higher than the need to ensure work-life balance.
With expanding markets, there is a need to gauge the growing demand and understand sentiments, attitudes of people, thereby India figures as one of the countries which is under the magnifying lens. And also an age old advantage of a growing economy being less expensive than a developed one. With manday rates much lower than that found in most developed countries, most overseas set-ups prefer to use India for key process outsourcing.
High attrition rates, to the tune of ~30%, lend to its similarity to the IT or the ITeS industry. Sadly however, although the attrition rate matches up to these industries, the remuneration does not. And although agencies claim that they are introducing processes to make their companies employee friendly, the pressures to meet the bottomline are far higher than the need to ensure work-life balance.
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