The business process outsourcing or BPO industry in the Philippines currently employs more than 1.3 million Filipinos and is expected to generate more than $29 billion by the end of 2022. The primary focus of BPO services was to provide cost containment and the ability to scale. In recent years, this has shifted to delivering excellent customer experience or CX. We can deduce that there will be continuous BPO growth amidst certain economic challenges and technological disruptions.
The future of BPO in the Philippines will experience job losses due to automation and the continued application of artificial intelligence or AI. Soon enough, almost all simple and repetitive tasks that are handled by agents in the outsourcing field will be handled by AI. Despite this being an inevitable challenge, the country’s ability to rise to the occasion is one of the top reasons why BPO is the fastest growing industry in the Philippines.
Now, we beg to ask: Why does the BPO industry continue to grow in the Philippines? Let’s list and discuss some of the top reasons why there is continuous BPO growth in the country.
1. Delivering quality CX
As not all business processes can be automated, it’s important to recognize how and where BPOs in the Philippines can provide more value. There are certain tasks that require empathy and active listening, thus the importance of providing quality customer experiences. This gives way to BPO providers to realize they need to focus more on putting their customers first, understanding what they want, and how BPO professionals can utilize technology for favorable results.
With these in mind, BPO companies ought not to just invest in technology but also be active in developing their people. Doing this lets them empower their workers and improve their digital literacy and ability to carry out world-class customer experience. This is where upskilling and reskilling the workforce comes in.
2. Competent workforce
The BPO sector is known for offering competitive salaries and benefits packages. Hence, a lot of professionals are inclined to join such a workforce. Further, the path of a career in BPO is among the most attractive due to the availability of training and development initiatives.
All these contribute to developing a pool of highly skilled talents being employed by the BPO sector. Ultimately, foreign companies looking to outsource their business processes to the Philippines can maximize this to their advantage.
Also, the country’s BPO professionals are highly proficient in English, making them the top choice for customer service and other contact center outsourcing service needs.
3. Access to a wider talent pool
As the demand for BPO services keeps on growing, BPO companies continuously expand their locations not just in the capital region but also in other major cities in the country. Having that said, more professionals are in the market for hiring.
How did the BPO industry help the economic growth of the Philippines?
Moreover, the importance of BPO industry in the Philippines can be seen in how it positively impacts the country’s economy. In fact, the BPO sector expected its revenue to increase by 8% to $28.8 billion in 2021. With this, the sector also receives great support from the government in the form of providing perks such as tax holidays and exemptions to name a few. This cooperation from the government helps businesses enforce benefits on their employees, attracting more talents into joining the workforce.
4. Competitive pricing and cost-efficient
Matched with quality output, the Philippines’ BPO sector offers competitive prices which companies and businesses from the US, UK, and other parts of the world enjoy.
Apart from that, business process outsourcing remains an economical choice for businesses. Being able to delegate tasks through third-party service providers such as BPO companies lets businesses reallocate their savings for other expenditures and focus their resources on their core operations.
5. Continuous demand
Even amidst the COVID-19 pandemic, BPO companies continue to operate, with more of them even hiring for new job openings. Though there are still significant limitations due to standard safety and health protocols, the services from the BPO sector stay in high demand. Hence, this is a win-win situation for BPO companies and professionals as well as organizations that hire their services as more and more opportunities are being created to meet such demands.
6. Adaptable to change
At first, BPO operations experienced more challenges when the COVID-19 pandemic hit the country and the world. That said, many BPO companies needed to explore ways how to continue the business while ensuring the safety of everyone. Despite the significant impact of the global health crisis on a majority of businesses, the BPO sector didn’t see the need to halt its operations.
Adopting more flexible work arrangements became one of the top initiatives to keep the business sustainable and ensure that the BPO employees’ safety and well-being are taken care of. These include work-from-home or remote work setups and provisions for accommodation, food, and other substantial support needed by the workers.
Contribute to BPO Growth in the Philippines
With all the reasons why there is continuous BPO growth in the country, we can’t deny that BPO companies will keep on improving their services, transforming how they ensure quality outputs, and developing their people toward world-class competence. Some of the top BPO players in the market include TeleTech, Sitel Group, Accenture and Transcom with undeniable track records that have survived and thrived through the pandemic.
So, if you’re a BPO company recruiter trying to get access to more competent candidates for your next hire, sign up for your free Employer profile in Bossjob! With Bossjob, you can:
- Get your job postings featured on multiple job boards at once
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If you’re a foreign client looking to hire BPO professionals in the Philippines, you may opt to hire a professional employer organization or PEO to assist you in fulfilling your hiring needs.
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