Genpact eyes big HR, finance buys

New York Stock Exchange-listed (NYSE) Genpact, the largest business process outsourcing (BPO) company in India, is looking actively for acquisitions. Instead of smaller firms, the company is interested in acquiring big-ticket companies with a revenue size of $150-200 million (Rs 600-800 crore).

Pramod Bhasin, president and CEO, Genpact, while choosing not to comment on the Citi BPO deal, said, "While captives are an interesting proposition, we would like to acquire in the verticals of finance and HR."

The company would be eyeing acquisitions in the US, India and Europe.

Bhasin also said the company was ramping up its China operations. "We are one of the leading BPOs in China. Last year, our growth in China was about 40 per cent," he said. The company is also keen on the Philippines market, where it already has presence.

On the US slowdown, Bhasin said, "Business is as usual. We are sharpening our skills. There is a general uncertainty in the US market and there might be a dip in the short term, but the US will remain the largest economy."

While attrition is the biggest concern for Bhasin, he believes that the recent steps taken by some of the IT firms is quite normal and something that the BPO industry has been doing for long.

"The job hopping in the BPO industry is something which is just not acceptable. We are taking a very strict view of this. If we find a resume with more than 3 or 4 shifts in a small period, we just don't consider that employee," said Bhasin.

On the sidelines of Nasscom Leadership Forum 2008, Bhasin said the tax benefits should be extended.

"We are simply saying the BPO industry in India is quite young. The government might have provided these standard operating procedures (SOPs) to the IT firms for the last 25 years or so, but BPOs where never there," added Bhasin.

Going ahead, Genpact will hire talent from tier-II and tier-III cities, especially from Meghalay, Assam and other north-eastern states.

"Some of the best talent that we have at Genpact is from these areas," said Bhasin. The company is also planning to expand its talent acquisition unit in Shillong, Meghalay.