The Philippines is an emerging economy and has progressively situated itself as an excellent BPO destination due to a favorable business environment and steady economic growth. According to the IT & Business Process Association of the Philippines (IBPAP), BPOs had 1.44 million full-time employees in 2021 and recorded a 9.1 percent employment growth in the same year. So, here’s ten reasons why more people are choosing to work in the BPO industry.
1. Significant Job Security
The BPO industry is growing exponentially and is anticipated to create hundreds of thousands of jobs in the next decade. BPOs serve some of the most critical sectors in the economy such as healthcare, transport, and communication, implying that they will be here for the long term. People want to work in industries that promise job certainty and BPOs fulfill this need.
2. Flexible Experience Requirements
Numerous organizations in the Philippines require job applicants to have a specific experience threshold before being considered for employment. This makes it profoundly difficult for fresh graduates or unemployed people with no experience to land jobs.
However, BPOs employ people with little to no experience, making them popular with job applicants. Pointedly, workers seeking employment in BPOs should research the various businesses they engage in and choose their right fit before applying. They should also be adequately prepared for interviews to increase their chances of employment.
3. Reputable Workplace Cultures
Most people want to work in friendly and fulfilling environments. Bully bosses can be detrimental to an individual’s mental health and are often associated with low job satisfaction. BPOs are reputable for their prioritization of employee mental health, achievements, and overall welfare. Their managers frequently monitor and assess workplace culture and morale to ensure employees are working in the best environment.
4. Promise Career Progression
BPOs have an ever-expanding client base as the economy progresses and more sectors turn to outsourcing. This means there are usually managerial and supervisory positions open for employees to grow into.
There’s plenty of interesting careers that can flourish, especially for go-getters in BPO. The best BPO companies also offer great career adaptability, allowing employees to shift to new paths internally. Jescan Canuto, Operations Team Leader at TTEC, has personally experienced amazing growth citing, “TTEC cares about employees’ career mobility and provides plenty of information on internal opportunities.” TTEC jobs can elevate your BPO careers.
5. Increasingly Multicultural
Multiculturalism is becoming tremendously popular in the modern workplace as people seek to benefit from diversity. The Philippines is one of the most culturally diverse nations globally and this should expectedly be reflected in the workplace.
BPOs work with hugely diversified consumer bases, some located in Europe, the Americas, and other Asian countries. This makes them palatable to employees yearning to engage with foreign cultures and harness the power of diversity.
6. Popular with Technology Startups
Virtually every economic sector today is reliant on technology. Developments are particularly rife in the finance, health, and educational sectors. BPOs are popular with financial technology companies or Fintechs because of their access to huge talent pools. For startups, BPOs promise operational efficiency and reduce expenditures. Accordingly, prospective employees with various Fintech skills may be attracted to opportunities offered by BPOs.
7. Provide Employment to Crypto Geeks
BPOs are ubiquitous in every industry, including those that are seemingly novel. One of the sectors BPOs are diversifying into is crypto exchanges. Cryptocurrencies such as Bitcoin and Ethereum are gaining significant traction and may become the primary mode of exchange in the future.
In the financial markets, most traders have turned to Bitcoin exchanges to benefit from price fluctuations. BPOs are employed as customer support for these crypto exchanges and may offer employment to crypto enthusiasts who want to engage with the trade first-hand and understand the various nuances of the crypto market. Those employed as customer support may use the opportunity to advance their career into the various crypto jobs in the labor markets.
8. Some of the Best Salaries
Even though people have different motivations when seeking a job, salaries are indubitably some of the prime incentives. Getting a good-paying job translates to proper standards of living and overall satisfaction.
Studies indicate that some of the highest-paying BPO jobs are in Manila. Employees can get about Php 18,300 monthly or Php 219,600 annually. With this information, it is not difficult to understand why most people are choosing to work in BPOs. The high salaries mean that BPO employees are shielded from high inflationary pressures and can afford to buy luxury items that are beyond the reach of ordinary workers.
9. Great Work-life Balance
There is no denying that work-life balance is indispensable to a happier workforce, increased productivity, and employee welfare. Most employees are now looking for organizations that offer appropriate resting times, vacations, and opportunities to advance their education. BPO companies understand this and are especially mindful of the essence of the family among Filipinos. Accordingly, they ensure that employees are provided enough time to interact with their families and that no one is overworked. This makes working in BPO companies profoundly enjoyable, explaining why numerous people are choosing to work in these organizations.
10. Offer Jobs with Signing Bonus
With the plethora of employers in the labor markets today, employees are increasingly looking for companies that value their work and are willing to show it. One way they do this is by checking the incentives a company offers. This has made signing bonuses a popular offer among various employers to incentivize job applicants to join and encourage them to stay with the company.