The following article is one of the best analysis of why Elance failed. You can read the original post here.

“Several important factors involved with their failure include: Too much competition, little service provider differentiation besides price, high service provider fees, no locality of services, ambiguous project descriptions, cheap Indians, as well as cheap Indians, and last but not least, cheap Indians.

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BPO industry, BPOVIA, Elance, ODesk, virtual assistance

The BPO industry is developing fast in the world, especially in India where the annual growth rate is estimated to be 50 percent. However, there are some problems that cannot be ignored in the sound progress of BPO industry, such as human resource management.

The main challenge for HR professionals, said James Huang, CEO of BPOVIA Ltd, is how to manage a large number of people at a very short time. A HR professional has to handle heavy pressures in the BPO sector as the requirement needs keep changing on an hourly basis. With the help of some parameters, such as the certificate launched by NASSCOM, it’s neither difficult to choose top-level managers nor freshers. HR policies should also be customized to brand building, for human resources are becoming human relations with more emphasis on emotional bonding.

Compared with India, China’s BPO industry is not fully developed, but is catching up in many aspects. BPOVIA Ltd is just one of the competitors, who are taking an active part in Chinese business development.

Popularity: 8% [?]

BPO industry, China's BPO, HR, India