Study Data · Part 1 · Indicator Deep-Dive Analysis

Approximately how many employees does your employer have worldwide?

Indicator C077 · By Phil Hatch · Akholi · October 9, 2026

Indicator Specification

Table 1. Indicator specificationTable
FieldValue
Indicator codeC077
Question as askedApproximately how many employees does your employer have worldwide?
Failure categoryNot one of the 100 rated indicators
Place in the surveyVendor Details > 4.1 Vendor Profile > Profile
Indicator classPerceived fact
Indicator typeTyped number
Response scaleA number, as typed or recorded
Answering base538 of 850 respondents, across 150 of 150 engagements
Non-answersI do not know 260, I prefer to not answer 0, blank 52

Summary of Findings

Table 2. Key results: association of the indicator with the four study measuresTable
MeasureFormnr95% CIp
Cancellation rateDescriptive contrast150 engagements−0.06−0.22 to 0.100.471
Customer satisfactionClean estimate94 engagements−0.07−0.27 to 0.130.500
Engagement indicator meanFull150 engagements−0.01−0.17 to 0.150.901
Intent to leaveRespondent level, clustered508 respondents−0.01−0.17 to 0.150.901

The worldwide employee count respondents reported for their employer (mean 110,954.9, median 90,854.0, n = 538 respondents) showed no association with any of the four study measures. The association with cancellation was close to zero (r = −0.06, 95% CI −0.22 to 0.10, p 0.471, n = 150 engagements) and tested as equivalent to zero (TOST p 0.001). Customer satisfaction on active engagements showed a near-zero association (r = −0.07, 95% CI −0.27 to 0.13, p 0.500, n = 94 active engagements) that tested as equivalent to zero (TOST p 0.011). The engagement indicator mean showed a near-zero association (r = −0.01, 95% CI −0.17 to 0.15, p 0.901, n = 150 engagements) that also tested as equivalent to zero (TOST p < 0.001). Intent to leave at respondent level showed a near-zero association (r = −0.01, cluster bootstrap 95% CI −0.17 to 0.15, p 0.901, n = 508 respondents) that tested as equivalent to zero (TOST p < 0.001). Employer size differed after Holm control by vendor type (Welch F 506.79, Holm p < 0.001, omega squared 0.691) and by no other segment family (Holm p 0.067 or higher in every family).

Distribution of Responses

Table 3. Distribution of responses, respondent levelTable
AnswerRespondentsShare of answered (base 538)Cumulative shareEngagements with at least oneShare of 150 engagementsDistressed
321.0 to 34,300.315729.18%29.18%4530.00%Not applicable
34,300.3 to 68,279.67013.01%42.19%2013.33%Not applicable
68,279.6 to 102,258.99116.91%59.11%2516.67%Not applicable
102,258.9 to 136,238.25410.04%69.14%1610.67%Not applicable
136,238.2 to 170,217.5295.39%74.54%74.67%Not applicable
170,217.5 to 204,196.8285.20%79.74%85.33%Not applicable
204,196.8 to 238,176.1244.46%84.20%64.00%Not applicable
238,176.1 to 272,155.4122.23%86.43%32.00%Not applicable
272,155.4 to 306,134.7275.02%91.45%74.67%Not applicable
306,134.7 to 340,114.0468.55%100.00%138.67%Not applicable
I do not know260Not in baseNot in base12784.67%Not applicable
I prefer to not answer0Not in baseNot in base00.00%Not applicable
Answered, total538100.00%150100.00%
Table 4. Distribution of responses, engagement levelTable
Engagement level summaryEngagementsMean of engagement meansSDMinMedianMaxEngagements with a distressed meanShare of engagements distressed
Engagement means, as recorded150108,780.7101,665.1321.088,622.5340,114.0Not applicableNot applicable

The study set mean was 110,954.9 on 538 answering respondents, with a median of 90,854.0.

Descriptive Statistics by Segment

Table 5a. Descriptive statistics by segment, part 1 of 2Table
SegmentBaseAnsweredAnswer rateEngagementsMean95% CISD
Study set85053863.29% of 850150110,954.9102,343.7 to 119,566.1101,677.9
Outsourcing model
CXM23214662.93% of 2324282,655.769,537.9 to 95,773.480,195.0
ITO24414659.84% of 24440161,746.3142,749.4 to 180,743.2116,137.1
BPO20913464.11% of 2093786,201.070,282.6 to 102,119.493,161.0
KPO16511267.88% of 16531111,251.294,080.5 to 128,421.891,703.6
Institution type
Asset management1327556.82% of 1322490,604.569,983.0 to 111,226.189,628.1
Wealth management and private banking1409366.43% of 14023147,868.7124,798.2 to 170,939.1112,021.0
Investment banking (advisory and capital-markets origination)1056864.76% of 1051988,096.861,650.5 to 114,543.1109,259.0
Insurance (life, property and casualty, health)785064.10% of 7814119,204.089,551.5 to 148,856.4104,337.6
Commercial and business banking825060.98% of 8213103,392.974,565.9 to 132,219.9101,433.2
Payments and merchant acquiring (networks, acquiring, processing)714563.38% of 7113119,432.392,703.3 to 146,161.488,968.2
Credit card and payments issuing735271.23% of 7312149,676.7127,298.6 to 172,054.880,380.5
Retail and consumer banking734764.38% of 731283,172.858,901.7 to 107,444.082,664.3
Markets and trading (sales and trading, global markets)573459.65% of 571171,913.638,342.9 to 105,484.496,214.4
Private equity and private capital392461.54% of 399104,764.9†113,822.2
Process family
Corporate and back-office functions24816265.32% of 2484772,076.560,919.4 to 83,233.571,908.5
Technology engineering and operations20412561.27% of 20435144,348.0123,536.6 to 165,159.3117,557.0
Client servicing and communications945659.57% of 9416160,256.0126,746.3 to 193,765.7125,128.8
Trade, settlement and reconciliation805062.50% of 8015102,973.777,383.1 to 128,564.490,045.5
Payments, cards and disputes734561.64% of 731299,083.669,581.6 to 128,585.598,198.0
Credit, underwriting and suitability574070.18% of 57983,100.760,670.0 to 105,531.470,136.5
Regulatory, audit, tax and legal513262.75% of 519152,822.5114,936.1 to 190,708.8105,082.7
Financial crime and client onboarding432865.12% of 437113,490.5†79,694.2
Class of work
LOB Operational45127861.64% of 45176110,859.199,535.4 to 122,182.795,908.9
Corporate Functional39926065.16% of 39974111,057.497,905.9 to 124,208.9107,691.1
Engagement status and lifecycle stage
Active, Build-Out17512169.14% of 17531105,430.387,659.0 to 123,201.798,733.2
Active, Transition/Cut-Over25015260.80% of 2504398,560.983,084.7 to 114,037.196,570.2
Active, Production1037067.96% of 10320161,431.7137,804.9 to 185,058.699,088.6
Canceled32219560.56% of 32256105,924.191,278.9 to 120,569.3103,692.6
Respondent role
Individual Contributor66735653.37% of 667142111,081.7100,545.1 to 121,618.3101,086.6
Engagement Manager150150100.00% of 150150108,780.792,377.9 to 125,183.4101,665.1
Portfolio Director3131100.00% of 3131122,090.581,056.8 to 163,124.2111,868.5
Customer Management Executive211 of 21‡
Vendor type
IT services major31620564.87% of 31659213,146.1202,382.4 to 223,909.878,163.7
BPO specialist19812764.14% of 1983771,256.765,447.9 to 77,065.633,079.0
Consulting firm1177967.52% of 1172350,265.945,877.8 to 54,654.019,590.7
Boutique or specialist provider875664.37% of 87172,521.62,168.5 to 2,874.71,318.4
Pure-play agentic AI firm754762.67% of 75141,567.91,343.8 to 1,792.0763.3
Not reported, recovered by engagement572442.11% of 5723115,136.9†111,172.1
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported.
Table 5b. Descriptive statistics by segment, part 2 of 2Table
SegmentMinQ1MedianQ3MaxDistressed nDistressed %
Study set321.026,541.090,854.0177,124.0340,114.0Not applicableNot applicable
Outsourcing model
CXM521.03,717.069,683.5123,092.5340,114.0Not applicableNot applicable
ITO321.046,746.0161,581.0284,136.0334,720.0Not applicableNot applicable
BPO739.02,946.071,366.0115,310.0322,799.0Not applicableNot applicable
KPO1,909.055,822.071,291.0150,273.0321,639.0Not applicableNot applicable
Institution type
Asset management321.022,975.571,366.0100,966.0320,212.0Not applicableNot applicable
Wealth management and private banking757.041,596.0134,548.0222,108.0321,639.0Not applicableNot applicable
Investment banking (advisory and capital-markets origination)1,103.03,478.049,001.090,000.8340,114.0Not applicableNot applicable
Insurance (life, property and casualty, health)754.017,661.0113,956.0194,677.5309,199.0Not applicableNot applicable
Commercial and business banking818.041,608.052,100.0101,298.0312,085.0Not applicableNot applicable
Payments and merchant acquiring (networks, acquiring, processing)2,495.057,469.0109,672.0170,181.0314,652.0Not applicableNot applicable
Credit card and payments issuing26,541.099,037.0157,193.0196,436.0288,552.0Not applicableNot applicable
Retail and consumer banking521.01,239.069,075.099,131.0322,799.0Not applicableNot applicable
Markets and trading (sales and trading, global markets)1,152.02,863.031,236.087,267.0310,494.0Not applicableNot applicable
Private equity and private capital1,909.02,764.095,710.0112,549.0334,720.0Not applicableNot applicable
Process family
Corporate and back-office functions960.06,821.061,871.5100,845.0319,459.0Not applicableNot applicable
Technology engineering and operations321.041,596.0114,068.0284,136.0334,720.0Not applicableNot applicable
Client servicing and communications521.03,974.0177,124.0284,830.0340,114.0Not applicableNot applicable
Trade, settlement and reconciliation757.046,746.078,398.0139,146.0314,652.0Not applicableNot applicable
Payments, cards and disputes992.021,034.057,985.0170,181.0322,799.0Not applicableNot applicable
Credit, underwriting and suitability739.032,470.072,236.5131,380.5184,698.0Not applicableNot applicable
Regulatory, audit, tax and legal15,536.069,075.0138,558.0222,400.0309,021.0Not applicableNot applicable
Financial crime and client onboarding31,236.057,469.090,854.0133,093.8245,245.0Not applicableNot applicable
Class of work
LOB Operational521.032,470.090,899.0183,654.0340,114.0Not applicableNot applicable
Corporate Functional321.022,772.081,392.0168,008.0334,720.0Not applicableNot applicable
Engagement status and lifecycle stage
Active, Build-Out321.021,034.071,291.0184,698.0328,802.0Not applicableNot applicable
Active, Transition/Cut-Over818.04,822.089,978.0126,876.0320,212.0Not applicableNot applicable
Active, Production3,338.082,345.3143,148.0261,778.0334,720.0Not applicableNot applicable
Canceled739.023,179.071,366.0171,949.5340,114.0Not applicableNot applicable
Respondent role
Individual Contributor521.026,541.090,854.0183,654.0334,720.0Not applicableNot applicable
Engagement Manager321.026,304.888,622.5169,637.8340,114.0Not applicableNot applicable
Portfolio Director321.032,387.594,187.0191,761.0340,114.0Not applicableNot applicable
Customer Management Executive‡ n = 1
Vendor type
IT services major81,392.0139,146.0208,483.0288,552.0340,114.0Not applicableNot applicable
BPO specialist17,661.041,596.072,869.099,131.0116,884.0Not applicableNot applicable
Consulting firm6,821.034,387.053,513.064,734.080,515.0Not applicableNot applicable
Boutique or specialist provider521.01,239.02,863.03,478.04,822.0Not applicableNot applicable
Pure-play agentic AI firm321.0818.01,711.02,356.02,625.0Not applicableNot applicable
Not reported, recovered by engagement521.04,610.099,767.5168,008.0340,114.0Not applicableNot applicable
Note: ‡ Base under 10. No statistic is reported.

Figures are respondent level. Means are on the scale as recorded. A level under 30 prints no interval and a level under 10 prints counts only.

Tests of Difference Between Segments

Table 6a. Tests of difference between segments, part 1 of 2Table
Segment familyWelch FdfpHolm pOmega squared90% CI
Outsourcing model3.953, 78.40.0110.0670.0690.018 to 0.153
Institution type0.888, 49.90.5421.000−0.0070.000 to 0.063
Process family3.664, 36.80.0130.0670.0800.018 to 0.178
Class of work0.021, 144.90.9001.000−0.0070.000 to 0.009
Engagement status and lifecycle stage1.433, 62.40.2420.9700.0100.000 to 0.072
Respondent role0.192, 78.40.8301.000−0.0030.000 to 0.006
Vendor type506.795, 145.5< 0.001< 0.0010.6910.659 to 0.719
Table 6b. Tests of difference between segments, part 2 of 2Table
Segment familyKruskal-Wallis HpDistressed chi-squaredfpCramer’s VLevels left out
Outsourcing model9.910.019Not applicableNot applicableNone
Institution type8.700.368Not applicableNot applicablea
Process family8.810.066Not applicableNot applicableb
Class of work0.280.596Not applicableNot applicableNone
Engagement status and lifecycle stage5.430.143Not applicableNot applicableNone
Respondent role0.420.812Not applicableNot applicablec
Vendor type427.77< 0.001Not applicableNot applicableNone
Note: a Private equity and private capital, n = 9. b Credit, underwriting and suitability, n = 9, Regulatory, audit, tax and legal, n = 9, Financial crime and client onboarding, n = 7. c Customer Management Executive, n = 1.

Engagement families were tested on engagement means, and respondent role and vendor type were tested on respondents. A distressed p marked exact is a Fisher exact test for a two by two table, and one marked simulated is a Monte Carlo test run until its p is stable to the third decimal, both used where an expected count is under 5. Vendor type differed after Holm control (Welch F 506.79, Holm p < 0.001, tested on respondents). In Descriptive Statistics by Segment, IT services major had the highest mean, 213,146.1 (n = 205 respondents), and Pure-play agentic AI firm the lowest, 1,567.9 (n = 47 respondents). No difference held after Holm control for outsourcing model, institution type, process family, class of work, engagement status and lifecycle stage and respondent role.

Association with Cancellation Rate

The share of engagements canceled on the study date, measured at engagement level (base 150 engagements, 56 canceled). The association is a descriptive contrast, inflated because canceled engagements were rated after cancellation, and is not predictive.

Table 7a. Association with cancellation rate by segment, part 1 of 2Table
SegmentEngagementsCanceledCancellation ratePoint-biserial r95% CIpHolm p
Study set1505637.33% of 150−0.06−0.22 to 0.100.4711.000
Outsourcing model
CXM421535.71% of 42−0.06−0.36 to 0.240.6881.000
ITO401537.50% of 40−0.06−0.37 to 0.250.6911.000
BPO371437.84% of 37−0.29−0.56 to 0.040.0801.000
KPO311238.71% of 310.21−0.16 to 0.520.2621.000
Institution type
Asset management241354.17% of 24−0.18†0.4111.000
Wealth management and private banking23834.78% of 230.30†0.1681.000
Investment banking (advisory and capital-markets origination)19947.37% of 19−0.20†0.4201.000
Insurance (life, property and casualty, health)14535.71% of 14−0.06†0.8391.000
Commercial and business banking13430.77% of 130.12†0.7001.000
Payments and merchant acquiring (networks, acquiring, processing)13323.08% of 130.00†0.9931.000
Credit card and payments issuing12541.67% of 12−0.08†0.8121.000
Retail and consumer banking12433.33% of 12−0.25†0.4251.000
Markets and trading (sales and trading, global markets)11327.27% of 11−0.25†0.4551.000
Private equity and private capital922 of 9‡
Process family
Corporate and back-office functions471940.43% of 47−0.23−0.48 to 0.060.1201.000
Technology engineering and operations351028.57% of 35−0.16−0.47 to 0.180.3641.000
Client servicing and communications16956.25% of 160.20†0.4511.000
Trade, settlement and reconciliation15853.33% of 15−0.12†0.6811.000
Payments, cards and disputes12216.67% of 120.01†0.9771.000
Credit, underwriting and suitability911 of 9‡
Regulatory, audit, tax and legal944 of 9‡
Financial crime and client onboarding733 of 7‡
Class of work
LOB Operational763039.47% of 760.13−0.10 to 0.340.2771.000
Corporate Functional742635.14% of 74−0.23−0.44 to −0.010.0450.940
Engagement status and lifecycle stage
Active, Build-Out3100.00% of 31Not computable, no variation in cancellation
Active, Transition/Cut-Over4300.00% of 43Not computable, no variation in cancellation
Active, Production2000.00% of 20Not computable, no variation in cancellation
Canceled5656100.00% of 56Not computable, no variation in cancellation
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported.
Table 7b. Association with cancellation rate by segment, part 2 of 2Table
SegmentOdds ratio per point95% CIAUCRate, distressed engagementsRate, other engagementsFisher pTOST p
Study set1.001.00 to 1.000.54Not applicableNot applicableNot applicable0.001
Outsourcing model
CXM1.001.00 to 1.000.61Not applicableNot applicableNot applicable0.063
ITO1.001.00 to 1.000.54Not applicableNot applicableNot applicable0.068
BPO1.001.00 to 1.000.66Not applicableNot applicableNot applicable0.478
KPO1.001.00 to 1.000.64Not applicableNot applicableNot applicable0.301
Institution type
Asset management1.00† n = 240.52Not applicableNot applicableNot applicable0.273
Wealth management and private banking1.00† n = 230.68Not applicableNot applicableNot applicable0.496
Investment banking (advisory and capital-markets origination)1.00† n = 190.62Not applicableNot applicableNot applicable0.330
Insurance (life, property and casualty, health)1.00† n = 140.53Not applicableNot applicableNot applicable0.204
Commercial and business banking1.00† n = 130.53Not applicableNot applicableNot applicable0.273
Payments and merchant acquiring (networks, acquiring, processing)1.00† n = 130.53Not applicableNot applicableNot applicable0.166
Credit card and payments issuing1.00† n = 120.57Not applicableNot applicableNot applicable0.243
Retail and consumer banking1.00† n = 120.66Not applicableNot applicableNot applicable0.441
Markets and trading (sales and trading, global markets)1.00† n = 110.67Not applicableNot applicableNot applicable0.441
Private equity and private capital‡ n = 9
Process family
Corporate and back-office functions1.001.00 to 1.000.70Not applicableNot applicableNot applicable0.308
Technology engineering and operations1.001.00 to 1.000.59Not applicableNot applicableNot applicable0.198
Client servicing and communications1.00† n = 160.62Not applicableNot applicableNot applicable0.354
Trade, settlement and reconciliation1.00† n = 150.50Not applicableNot applicableNot applicable0.252
Payments, cards and disputes1.00† n = 120.60Not applicableNot applicableNot applicable0.184
Credit, underwriting and suitability‡ n = 9
Regulatory, audit, tax and legal‡ n = 9
Financial crime and client onboarding‡ n = 7
Class of work
LOB Operational1.001.00 to 1.000.56Not applicableNot applicableNot applicable0.059
Corporate Functional1.001.00 to 1.000.65Not applicableNot applicableNot applicable0.275
Engagement status and lifecycle stage
Active, Build-OutNot computable, no variation in cancellation
Active, Transition/Cut-OverNot computable, no variation in cancellation
Active, ProductionNot computable, no variation in cancellation
CanceledNot computable, no variation in cancellation
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported.

The study set r was −0.06 (95% CI −0.22 to 0.10, Holm p 1.000, n = 150 engagements). The association did not hold after Holm control. Equivalence Tests of Null Results found it equivalent to zero inside the bound. Of the 20 tested segment levels, 0 held after Holm control.

Association with Customer Satisfaction

The satisfaction score recorded against each engagement on a 100-point scale. The primary estimate uses the 94 active engagements. A descriptive contrast uses all 150 engagements.

Table 8a. Association with customer satisfaction by segment, part 1 of 2Table
SegmentActive engagementsClean r95% CIpHolm pSpearman rhop
Study set94−0.07−0.27 to 0.130.5001.000−0.140.192
Outsourcing model
CXM27−0.08†0.7091.000−0.070.725
ITO25−0.19†0.3641.000−0.240.240
BPO23−0.15†0.4901.000−0.280.202
KPO190.12†0.6111.000−0.120.616
Institution type
Asset management11−0.32†0.3311.000−0.510.108
Wealth management and private banking150.12†0.6721.000−0.020.950
Investment banking (advisory and capital-markets origination)100.03†0.9451.0000.090.802
Insurance (life, property and casualty, health)9‡
Commercial and business banking9‡
Payments and merchant acquiring (networks, acquiring, processing)10−0.38†0.2791.000−0.290.413
Credit card and payments issuing7‡
Retail and consumer banking8‡
Markets and trading (sales and trading, global markets)8‡
Private equity and private capital7‡
Process family
Corporate and back-office functions280.21†0.2721.0000.190.341
Technology engineering and operations25−0.18†0.4001.000−0.210.308
Client servicing and communications7‡
Trade, settlement and reconciliation7‡
Payments, cards and disputes10−0.34†0.3331.000−0.360.300
Credit, underwriting and suitability8‡
Regulatory, audit, tax and legal5‡
Financial crime and client onboarding4‡
Class of work
LOB Operational46−0.12−0.40 to 0.170.4181.000−0.180.239
Corporate Functional48−0.03−0.32 to 0.250.8171.000−0.090.564
Engagement status and lifecycle stage
Active, Build-Out31−0.28−0.58 to 0.080.1281.000−0.280.131
Active, Transition/Cut-Over430.04−0.27 to 0.330.8171.000−0.050.728
Active, Production20−0.17†0.4621.000−0.210.383
Canceled0a
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported. a No clean estimate, canceled engagements fall outside the active population.
Table 8b. Association with customer satisfaction by segment, part 2 of 2Table
SegmentSlope, points per rating point95% CIR squaredTOST pAll engagementsDescriptive rp
Study set0.000.00 to 0.000.000.0111500.030.707
Outsourcing model
CXM0.00† n = 270.010.126420.060.723
ITO0.00† n = 250.040.291400.010.951
BPO0.00† n = 230.020.242370.220.182
KPO0.00† n = 190.020.23131−0.180.330
Institution type
Asset management0.00† n = 110.110.530240.130.555
Wealth management and private banking0.00† n = 150.010.25623−0.280.194
Investment banking (advisory and capital-markets origination)0.00† n = 100.000.226190.190.432
Insurance (life, property and casualty, health)‡ n = 9
Commercial and business banking‡ n = 9
Payments and merchant acquiring (networks, acquiring, processing)0.00† n = 100.140.59413−0.160.610
Credit card and payments issuing‡ n = 7
Retail and consumer banking‡ n = 8
Markets and trading (sales and trading, global markets)‡ n = 8
Private equity and private capital‡ n = 7
Process family
Corporate and back-office functions0.00† n = 280.050.324470.270.069
Technology engineering and operations0.00† n = 250.030.268350.090.614
Client servicing and communications‡ n = 7
Trade, settlement and reconciliation‡ n = 7
Payments, cards and disputes0.00† n = 100.120.54912−0.140.662
Credit, underwriting and suitability‡ n = 8
Regulatory, audit, tax and legal‡ n = 5
Financial crime and client onboarding‡ n = 4
Class of work
LOB Operational0.000.00 to 0.000.010.11176−0.160.173
Corporate Functional0.000.00 to 0.000.000.032740.210.072
Engagement status and lifecycle stage
Active, Build-Out0.000.00 to 0.000.080.45331−0.280.128
Active, Transition/Cut-Over0.000.00 to 0.000.000.042430.040.817
Active, Production0.00†0.030.29120−0.170.462
Canceledno clean estimate, canceled engagements fall outside the active population
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported.

The study set r was −0.07 (95% CI −0.27 to 0.13, Holm p 1.000, n = 94 engagements). The association did not hold after Holm control. Equivalence Tests of Null Results found it equivalent to zero inside the bound. Of the 16 tested segment levels, 0 held after Holm control.

Association with the Engagement Indicator Mean

The mean of an engagement’s 100 indicator ratings, measured at engagement level (base 150 engagements). Where this indicator is one of the 100, the mean is recomputed without it.

Table 9a. Association with the engagement indicator mean by segment, part 1 of 2Table
SegmentEngagementsLeave-one-out r95% CIpHolm pSpearman rhop
Study set150−0.01−0.17 to 0.150.9011.0000.000.958
Outsourcing model
CXM42−0.02−0.32 to 0.290.9241.0000.070.655
ITO40−0.06−0.37 to 0.250.6921.000−0.060.694
BPO370.15−0.18 to 0.450.3731.0000.070.673
KPO31−0.12−0.45 to 0.240.5211.000−0.140.462
Institution type
Asset management24−0.03†0.9031.000−0.030.897
Wealth management and private banking23−0.10†0.6521.000−0.140.523
Investment banking (advisory and capital-markets origination)190.20†0.4071.0000.270.270
Insurance (life, property and casualty, health)140.14†0.6331.0000.140.637
Commercial and business banking13−0.51†0.0731.000−0.510.074
Payments and merchant acquiring (networks, acquiring, processing)13−0.40†0.1811.000−0.360.223
Credit card and payments issuing120.09†0.7741.0000.310.331
Retail and consumer banking120.11†0.7391.0000.270.391
Markets and trading (sales and trading, global markets)110.17†0.6141.0000.360.272
Private equity and private capital9‡
Process family
Corporate and back-office functions470.290.00 to 0.530.0481.0000.420.003
Technology engineering and operations350.00−0.34 to 0.330.9891.000−0.020.898
Client servicing and communications16−0.36†0.1771.000−0.380.151
Trade, settlement and reconciliation15−0.30†0.2701.000−0.270.334
Payments, cards and disputes12−0.24†0.4621.000−0.340.276
Credit, underwriting and suitability9‡
Regulatory, audit, tax and legal9‡
Financial crime and client onboarding7‡
Class of work
LOB Operational76−0.21−0.41 to 0.020.0731.000−0.190.094
Corporate Functional740.17−0.06 to 0.390.1371.0000.180.123
Engagement status and lifecycle stage
Active, Build-Out31−0.31−0.60 to 0.050.0871.000−0.280.128
Active, Transition/Cut-Over430.04−0.26 to 0.340.7891.0000.010.930
Active, Production20−0.20†0.3861.000−0.290.210
Canceled560.06−0.21 to 0.320.6701.0000.100.447
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported.
Table 9b. Association with the engagement indicator mean by segment, part 2 of 2Table
Segmentr with indicator includedChange in rSlope95% CIR squaredTOST pEquivalent
Study setNot a component0.000.00 to 0.000.00< 0.001Yes
Outsourcing model
CXMNot a component0.000.00 to 0.000.000.033Yes
ITONot a component0.000.00 to 0.000.000.068No
BPONot a component0.000.00 to 0.000.020.179No
KPONot a component0.000.00 to 0.000.010.159No
Institution type
Asset managementNot a component0.00† n = 240.000.097No
Wealth management and private bankingNot a component0.00† n = 230.010.174No
Investment banking (advisory and capital-markets origination)Not a component0.00† n = 190.040.337No
Insurance (life, property and casualty, health)Not a component0.00† n = 140.020.288No
Commercial and business bankingNot a component0.00† n = 130.260.791No
Payments and merchant acquiring (networks, acquiring, processing)Not a component0.00† n = 130.160.635No
Credit card and payments issuingNot a component0.00† n = 120.010.258No
Retail and consumer bankingNot a component0.00† n = 120.010.273No
Markets and trading (sales and trading, global markets)Not a component0.00† n = 110.030.350No
Private equity and private capital‡ n = 9
Process family
Corporate and back-office functionsNot a component0.000.00 to 0.000.080.472No
Technology engineering and operationsNot a component0.000.00 to 0.000.000.041Yes
Client servicing and communicationsNot a component0.00† n = 160.130.588No
Trade, settlement and reconciliationNot a component0.00† n = 150.090.506No
Payments, cards and disputesNot a component0.00† n = 120.060.417No
Credit, underwriting and suitability‡ n = 9
Regulatory, audit, tax and legal‡ n = 9
Financial crime and client onboarding‡ n = 7
Class of work
LOB OperationalNot a component0.000.00 to 0.000.040.197No
Corporate FunctionalNot a component0.000.00 to 0.000.030.131No
Engagement status and lifecycle stage
Active, Build-OutNot a component0.000.00 to 0.000.100.529No
Active, Transition/Cut-OverNot a component0.000.00 to 0.000.000.045Yes
Active, ProductionNot a component0.00† n = 200.040.337No
CanceledNot a component0.000.00 to 0.000.000.034Yes
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported.

The study set r was −0.01 (95% CI −0.17 to 0.15, Holm p 1.000, n = 150 engagements). The association did not hold after Holm control. Equivalence Tests of Null Results found it equivalent to zero inside the bound. Of the 24 tested segment levels, 0 held after Holm control.

Association with Intent to Leave

The respondent’s stated likelihood of leaving the current job within 12 months, rated 1 to 10 (C019). Measured at respondent level on up to 798 respondents, with the engagement-level form reported alongside.

Table 10a. Association with intent to leave by segment, part 1 of 2Table
SegmentRespondentsr95% CICluster bootstrap 95% CIpHolm p
Study set508−0.01−0.10 to 0.08−0.17 to 0.150.8171.000
Outsourcing model
CXM134−0.03−0.20 to 0.14−0.36 to 0.250.7251.000
ITO1390.03−0.13 to 0.20−0.24 to 0.290.7001.000
BPO129−0.30−0.45 to −0.13−0.58 to 0.06< 0.0010.024
KPO1060.12−0.07 to 0.30−0.29 to 0.480.2301.000
Institution type
Asset management700.14−0.09 to 0.37−0.21 to 0.450.2361.000
Wealth management and private banking880.15−0.06 to 0.35−0.35 to 0.640.1631.000
Investment banking (advisory and capital-markets origination)64−0.07−0.31 to 0.18−0.39 to 0.280.5641.000
Insurance (life, property and casualty, health)46−0.17−0.44 to 0.13−0.61 to 0.320.2591.000
Commercial and business banking470.430.16 to 0.640.02 to 0.770.0030.094
Payments and merchant acquiring (networks, acquiring, processing)430.11−0.20 to 0.40−0.33 to 0.630.4831.000
Credit card and payments issuing490.11−0.18 to 0.38−0.73 to 0.760.4701.000
Retail and consumer banking44−0.51−0.70 to −0.25−0.78 to −0.11< 0.0010.014
Markets and trading (sales and trading, global markets)34−0.09−0.41 to 0.26−0.49 to 0.470.6291.000
Private equity and private capital23−0.40††0.0571.000
Process family
Corporate and back-office functions152−0.38−0.51 to −0.23−0.63 to −0.05< 0.001< 0.001
Technology engineering and operations1190.04−0.15 to 0.21−0.25 to 0.340.7031.000
Client servicing and communications520.27−0.01 to 0.50−0.25 to 0.670.0561.000
Trade, settlement and reconciliation480.19−0.10 to 0.45−0.34 to 0.640.1951.000
Payments, cards and disputes42−0.09−0.39 to 0.22−0.53 to 0.510.5521.000
Credit, underwriting and suitability36−0.05−0.37 to 0.29§ n = 90.7831.000
Regulatory, audit, tax and legal32−0.17−0.49 to 0.19§ n = 90.3441.000
Financial crime and client onboarding270.37††0.0561.000
Class of work
LOB Operational2590.160.04 to 0.28−0.06 to 0.360.0100.306
Corporate Functional249−0.17−0.29 to −0.05−0.38 to 0.060.0070.221
Engagement status and lifecycle stage
Active, Build-Out1150.08−0.10 to 0.26−0.19 to 0.360.3691.000
Active, Transition/Cut-Over144−0.04−0.21 to 0.12−0.32 to 0.240.6021.000
Active, Production650.22−0.03 to 0.44−0.19 to 0.630.0821.000
Canceled184−0.04−0.18 to 0.11−0.18 to 0.100.6341.000
Respondent role
Individual Contributor327−0.05−0.16 to 0.06−0.23 to 0.120.3451.000
Engagement Manager1500.02−0.14 to 0.18−0.14 to 0.180.8391.000
Portfolio Director310.25−0.11 to 0.56−0.10 to 0.580.1671.000
Customer Management Executive0‡
Vendor type
IT services major1970.140.00 to 0.27−0.12 to 0.390.0541.000
BPO specialist118−0.12−0.30 to 0.06−0.42 to 0.210.1851.000
Consulting firm75−0.20−0.41 to 0.02−0.49 to 0.160.0801.000
Boutique or specialist provider52−0.47−0.66 to −0.22−0.77 to −0.06< 0.0010.018
Pure-play agentic AI firm450.430.15 to 0.64−0.07 to 0.820.0030.109
Not reported, recovered by engagement21−0.07††0.7671.000
Note: † Base under 30. No interval is reported. § Too few engagements for a cluster bootstrap interval. ‡ Base under 10. No statistic is reported.
Table 10b. Association with intent to leave by segment, part 2 of 2Table
SegmentSpearman rhopShare at 7 or above, distressedShare at 7 or above, otherEngagementsEngagement level r95% CITOST p
Study set−0.030.556Not applicableNot applicable150−0.01−0.17 to 0.15< 0.001
Outsourcing model
CXM−0.150.074Not applicableNot applicable42−0.04−0.34 to 0.270.047
ITO0.010.892Not applicableNot applicable400.04−0.27 to 0.350.054
BPO−0.240.007Not applicableNot applicable37−0.29−0.56 to 0.040.477
KPO0.200.042Not applicableNot applicable310.17−0.20 to 0.490.232
Institution type
Asset management0.150.222Not applicableNot applicable240.15†0.228
Wealth management and private banking0.230.029Not applicableNot applicable230.06†0.132
Investment banking (advisory and capital-markets origination)−0.110.376Not applicableNot applicable19−0.03†0.131
Insurance (life, property and casualty, health)−0.200.187Not applicableNot applicable14−0.12†0.271
Commercial and business banking0.52< 0.001Not applicableNot applicable130.33†0.540
Payments and merchant acquiring (networks, acquiring, processing)0.090.576Not applicableNot applicable130.34†0.551
Credit card and payments issuing0.040.772Not applicableNot applicable120.05†0.218
Retail and consumer banking−0.57< 0.001Not applicableNot applicable12−0.50†0.768
Markets and trading (sales and trading, global markets)−0.110.530Not applicableNot applicable11−0.10†0.276
Private equity and private capital−0.280.198Not applicableNot applicable9‡‡
Process family
Corporate and back-office functions−0.43< 0.001Not applicableNot applicable47−0.35−0.58 to −0.070.647
Technology engineering and operations0.020.840Not applicableNot applicable350.04−0.30 to 0.360.061
Client servicing and communications0.250.073Not applicableNot applicable160.23†0.396
Trade, settlement and reconciliation0.130.386Not applicableNot applicable150.18†0.324
Payments, cards and disputes0.050.771Not applicableNot applicable120.05†0.215
Credit, underwriting and suitability−0.140.432Not applicableNot applicable9‡‡
Regulatory, audit, tax and legal−0.140.432Not applicableNot applicable9‡‡
Financial crime and client onboarding0.070.729Not applicableNot applicable7‡‡
Class of work
LOB Operational0.130.039Not applicableNot applicable760.18−0.05 to 0.390.133
Corporate Functional−0.200.001Not applicableNot applicable74−0.19−0.40 to 0.040.161
Engagement status and lifecycle stage
Active, Build-Out0.050.606Not applicableNot applicable310.19−0.18 to 0.510.263
Active, Transition/Cut-Over0.060.488Not applicableNot applicable43−0.03−0.33 to 0.270.041
Active, Production0.240.056Not applicableNot applicable200.29†0.482
Canceled−0.070.353Not applicableNot applicable56−0.11−0.36 to 0.160.069
Respondent role
Individual Contributor−0.060.266Not applicableNot applicable139−0.04−0.20 to 0.13< 0.001
Engagement Manager−0.010.874Not applicableNot applicable1500.02−0.14 to 0.18< 0.001
Portfolio Director0.310.087Not applicableNot applicable310.25−0.11 to 0.560.397
Customer Management Executive‡ n = 0
Vendor type
IT services major0.140.046Not applicableNot applicable590.14−0.12 to 0.380.099
BPO specialist−0.120.186Not applicableNot applicable37−0.07−0.38 to 0.260.078
Consulting firm−0.190.106Not applicableNot applicable23−0.27†0.435
Boutique or specialist provider−0.430.001Not applicableNot applicable17−0.45†0.746
Pure-play agentic AI firm0.300.044Not applicableNot applicable140.44†0.711
Not reported, recovered by engagement−0.160.497Not applicableNot applicable20−0.05†0.144
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported.

The study set r was −0.01 (95% CI −0.10 to 0.08, Holm p 1.000, n = 508 respondents). The association did not hold after Holm control. Equivalence Tests of Null Results found it equivalent to zero inside the bound. Of the 37 tested segment levels, 4 held after Holm control.

Comparison of Associations Across the Four Measures

Table 11. Associations across the four measuresTable
MeasureFormUnitnr95% CIpEquivalent to zeroRank among the four
Cancellation rateDescriptive contrastEngagement150−0.06−0.22 to 0.100.471Yes2
Customer satisfactionClean estimateEngagement94−0.07−0.27 to 0.130.500Yes1
Engagement indicator meanFullEngagement150−0.01−0.17 to 0.150.901Yes4
Intent to leaveRespondent level, clusteredRespondent508−0.01−0.17 to 0.150.901Yes3
Table 12. Pairwise comparison of associationsTable
Pair comparedDifference in rSteiger zpHolm pReading
Cancellation rate and customer satisfaction0.030.990.3241.000Do not differ
Cancellation rate and engagement indicator mean0.071.130.2581.000Do not differ
Cancellation rate and intent to leave0.040.780.4331.000Do not differ
Customer satisfaction and engagement indicator mean0.040.920.3561.000Do not differ
Customer satisfaction and intent to leave0.010.320.7471.000Do not differ
Engagement indicator mean and intent to leave−0.03−0.620.5361.000Do not differ

Pairs were compared on the engagement level form of every measure, each turned so that a higher value was the better outcome, on the 150 engagements where the indicator and all four measures existed. Of the 6 pairs, 0 differed after Holm control.

Clustering and Effective Sample Size

Table 13. Clustering and effective sample sizeTable
StatisticValueReading
Clusters (engagements)150Engagements with at least one answer.
Mean respondents per engagement3.6Answers per engagement with at least one answer.
ICC(1)1.00Share of variance between engagements.
Design effect3.591 plus (mean cluster size minus 1) times ICC.
Nominal respondent n538Respondents who answered.
Effective n150Nominal n divided by the design effect.
Cluster bootstrap appliedYesApplied to every respondent level CI where the ICC is 0.05 or above.

Clustering reduced the 538 respondent answers to about 150 independent answers. Respondent level intervals therefore used the cluster bootstrap, and respondent level tests on intent to leave used cluster-robust errors.

Equivalence Tests of Null Results

Table 14. Equivalence tests of null resultsTable
MeasurenrEquivalence boundTOST p, lowerTOST p, upperEquivalent to zeroAchieved powerMDE at power 0.80Detection floor for this n
Cancellation rate150−0.06|r| < 0.300.001< 0.001Yes0.960.230.23
Customer satisfaction94−0.07|r| < 0.300.011< 0.001Yes0.840.290.23
Engagement indicator mean150−0.01|r| < 0.30< 0.001< 0.001Yes0.960.230.23
Intent to leave508, effective 141−0.01|r| < 0.30< 0.001< 0.001Yes0.950.230.23

Tested null, equivalent to zero: cancellation rate, customer satisfaction, engagement indicator mean and intent to leave. No result was inconclusive. The detection floor column is the study floor at 150 engagements. Intent to leave was tested on its effective n.

Robustness Checks

Table 15. Robustness checksTable
CheckMeasurePrimary rCheck r95% CIChangeConclusion holds
Rank correlation in place of PearsonCancellation rate−0.06−0.07a−0.01Yes
Rank correlation in place of PearsonCustomer satisfaction−0.07−0.14a−0.07Yes
Rank correlation in place of PearsonEngagement indicator mean−0.010.00a0.01Yes
Rank correlation in place of PearsonIntent to leave−0.01−0.03a−0.02Yes
Non-answers excluded, then imputed at the engagement meanIntent to leave−0.010.01a0.02Yes
Active engagements onlyEngagement indicator mean−0.01−0.12−0.32 to 0.08−0.11Yes
Active engagements onlyIntent to leave−0.010.04−0.07 to 0.150.05Yes
Most influential engagement removed (largest Cook’s distance)Cancellation rate−0.06−0.08−0.24 to 0.08−0.02Yes
Most influential engagement removed (largest Cook’s distance)Customer satisfaction−0.07−0.10−0.30 to 0.11−0.03Yes
Most influential engagement removed (largest Cook’s distance)Engagement indicator mean−0.01−0.04−0.20 to 0.12−0.03Yes
Most influential engagement removed (largest Cook’s distance)Intent to leave−0.010.02−0.06 to 0.110.03Yes
Engagements weighted by respondent countCancellation rate−0.06−0.03a0.03Yes
Engagements weighted by respondent countCustomer satisfaction−0.07−0.08a0.00Yes
Engagements weighted by respondent countEngagement indicator mean−0.01−0.04a−0.03Yes
Bootstrap of engagementsCancellation rate−0.06−0.06−0.22 to 0.100.00Yes
Bootstrap of engagementsCustomer satisfaction−0.07−0.07−0.24 to 0.090.00Yes
Bootstrap of engagementsEngagement indicator mean−0.01−0.01−0.16 to 0.140.00Yes
Bootstrap of engagementsIntent to leave−0.01−0.01−0.17 to 0.150.00Yes
Thin-base segments removedCancellation rate−0.06−0.22−0.41 to 0.00−0.16Yes
Thin-base segments removedCustomer satisfaction−0.070.02−0.26 to 0.290.09Yes
Thin-base segments removedEngagement indicator mean−0.010.18−0.04 to 0.380.19Yes
Thin-base segments removedIntent to leave−0.01−0.16−0.27 to −0.04−0.15Yes
Note: a No interval for this check.

Each change was computed before rounding, so it can differ by 0.01 from the difference of the two printed values.

Every check held. A check holds when its test lands on the same side of 0.05 as the primary test and, where the primary test is below 0.05, its r keeps the primary sign. Thin-base rule: engagements in any level under 30 engagements of outsourcing model or process family removed. Institution type is not used, because every one of its levels is under 30.

Measure Independence and Part-Whole Correction

Each of the four measures was computed from data this indicator does not contain, so each result is a finding rather than an arithmetic consequence.

Comparison with the Study Norm

Table 16. Comparison with the study normTable
MeasureThis indicator, oriented rStudy median, oriented rDeviationFisher zpHolm p
Cancellation rate0.060.60−0.54−7.64< 0.001< 0.001
Customer satisfaction0.030.72−0.69−10.61< 0.001< 0.001
Engagement indicator mean−0.010.84−0.85−14.78< 0.001< 0.001
Intent to leave0.020.71−0.69−10.56< 0.001< 0.001
Spread of deviations0.31
VerdictDIVERGENT

Each deviation was computed before rounding, so it can differ by 0.01 from the difference of the two printed values.

The comparison ran on 150 engagements. The indicator departed from the study’s typical pattern on cancellation rate, customer satisfaction, engagement indicator mean and intent to leave.

Interpretation of the Data

IT services major respondents reported the largest employers (mean 213,146.1, n = 205 respondents), and Pure-play agentic AI firm respondents reported the smallest (mean 1,567.9, n = 47 respondents). The absence of any association between employer size and the four study measures held under every robustness check run on this item (22 of 22 checks).

Limitations

The evidence is reported experience: what the delivery team said about its own engagement, gathered in one cross-section. The figures showed associations, not causes. Indicators about the financial institution were reported at second hand by vendor staff. Cancellation is a descriptive contrast, because canceled engagements were rated after they ended.

Tests across respondent role and vendor type were run at respondent level and treated respondents as independent. The section Clustering and Effective Sample Size states whether, and by how much, clustering within engagements reduced the information in respondent level figures.

Answers clustered fully within engagements, which left about one independent answer per engagement (ICC 1.00, 538 answers worth about 150 independent answers). Customer Management Executive answers were at anecdote strength (n = 1).

Definitions

Table 17. DefinitionsTable
TermDefinition
Response scaleAs recorded, shown in Table 1. The indicator is not a rating, so no distressed range is defined.
Answering baseRespondents who entered a value.
Non-answers“I do not know” and “I prefer to not answer” are counted separately and are excluded from the mean.
Indicator classPerceived fact: a state of the engagement as the respondent perceives it, so “I do not know” is counted and reported as an answer.
Failure categoryOne of the five failure categories of the Study Taxonomy, section 3. Only the 100 rated indicators carry one, and the indicator is not among them.
Engagement indicator meanThe mean of an engagement’s 100 indicator ratings.

Sources and Provenance

Table 18. Sources and provenanceTable
ItemValue
Study dataStudy Data.xlsx, Data sheet, column C077, sha256 219eba0457274d04
Statistics enginecompute_statistics.py, sha256 738319eef764602b
Statistics recordComputed Statistics.json, record C077, sha256 e405f65a43e37a6e
ComputedOctober 8, 2026, 01:38 UTC
TemplateIndicator Statistical Analysis Template, version 1.1 of 2026-10-06
Figures placed by script2,049 of 2,049

Continue the report

Executive summary →
Overview

Executive Summary

Four findings from 150 engagements

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Introduction

Introduction

Scope, evidence, and how the report is organized

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Part 1

Engagement Outcomes

Poor results on every measure, and what separates them

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Part 2

The Five Failure Categories

Where failure concentrates, category by category

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Part 3

Governance, Oversight, and Control

Controls that existed in name only

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Part 4

The Delivery Workforce

Early in their careers, dissatisfied, and many intending to leave

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Part 5

Manual Alteration

How the delivery team altered the work to sustain it

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Part 6

Executive Action Plan

Seven immediate actions and a first-year plan

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Appendices

Appendices

Definitions, indicator inventory, method, and disclosures

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Data

Study Data

Deep-dive analyses of the study indicators, published in stages

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