Transcription is the process of converting speech into text. Listening to audio/ video clips, interpreting, and then documenting it are the three important steps of transcription. In the modern world, there are large corporate houses which require the services of transcriptionist to record important events such as the minutes of the Board meeting, Important conferences, Interviews with Clients, etc. There are many benefits to working as a transcriptionist. One of the major advantages is that it allows people to work from the comfort of their home and at their own pace.
A number of websites hire transcriptionists to work at home. Some of them are Rev, Tigerfish, Speech pad etcetera. There are three different types of transcription: Medical transcription, Legal Transcription, and General Transcription. There is not much investment required either in case a person wants to start working as a transcriptionist. All that is needed is a Desktop or Laptop computer, A good internet connection, and audio/ video files which are generally furnished by the company for which one is working.
A good transcriptionist needs to have good command over the language in which it intends to transcribe and also have speed and accuracy. Good listening skills and, Proper punctuation, and ability to do vocabulary-based research are other important abilities that are detrimental for being a successful transcriptionist.
Different transcription companies may have additional rules to be followed. There are many benefits of working as a transcription like working from the home, flexible working hours, controlling the amount of work, and escaping from the clutches of a 9 to 5 job. However, there is also a flip side to it. Since most of the companies working in this space do not follow a rigorous hiring process for transcriptionist there are a lot of people who are offering their services as full-timers as well as freelancers. This means that there is an abundant supply of cheap labor from various countries. As a result, the pay package offered by these companies is very low. It is obvious that with so many people queuing up to do the job there is no dearth of people who can make themselves available for the job. The job of a transcriptionist is very boring, and it can be very monotonous in case a person wants to work full time upon it. Continuous listening to the audio/ video clips can take a toll on the mental health of the people. Many transcriptionists also complain about the lack of clarity in the Video/ Audio files which they are provided and term it as disturbing content.
In spite of the above-mentioned facts, the transcription business is thriving in the Modern Economy and freelancers are lining up to offer their services even at the discounted rate.