Serco, the international services company, has signed a new BPO contract with a large US financial conglomerate to provide HR outsourcing services in India. Serco has been chosen as an exclusive partner and will act as a talent acquisition and transformation partner. Under the arrangement, Serco will deploy over 350 personnel across 11 locations in India in the next four months.
Susir Kumar, Chief Executive, Serco Global Services, said: "This is a significant win for us and we are delighted to collaborate with a company that is a leading issuer of credit cards and financial products. At Serco, we are committed to delivering value and helping our clients achieve significant business outcomes. Our deep understanding of the financial services market and leading position in the Indian market combined with a strong culture of operational excellence will help us to deliver superior offerings in this engagement and support our client in its growth strategy."
"Serco's specialised HRO offerings enable customers to embark on the HRO journey easily and realise benefits promptly. Our suite of innovative tools measure and improve HR and business metrics to help organisations focus on strategic initiatives rather than managing transactional activities in HR operations," said Bhupender Singh, CEO of Serco Global Services - Asia, Middle East and Australia (AMEA).
According to leading US-based BPO analyst firm HFS Research, the global HR BPO market is valued at $42 billion as of 2013 with the Asia Pacific market at $3 billion. Serco provides a wide portfolio of HR Outsourcing (HRO) services to a range of public sector customers, covering processes such as HR and payroll administration, benefits and pensions administration and recruitment process outsourcing. In addition, Serco brings a wealth of expertise and experience through the capabilities and scale of its offshore operations, which processes over 600,000 payroll records and around 80,000 resumes annually for corporate clients in the UK, Australia and domestic Indian markets.