Abroad business process outsourcing (BPO), a trend that has been consistently gaining attraction during the last few decades, is traditionally associated with India. However, as of last year the Philippines took the lead as the country has more call centers on the planet than any other country and now characterizes the BPO market.
An estimated million-plus Filipinos work at call centers or in jobs related to the outsourcing businesses; with most advisors serving American corporations and their customers. This is a fantastic figure considering the Philippines’ BPO market only started expanding about 8yrs ago.
American companies outsourcing operations abroad is an increasingly prevalent phenomenon as they are attracted to the substantially reduced charges: a Filipino technician typically earns a fourth of the income that your corresponding worker in the US would. However, this income – which averages the equivalent of around $700 monthly – is actually quite substantial in accordance with many other jobs in the United Kingdom. For example, Filipino call center, real estate agents earn about twice that of lender tellers. These numbers undoubtedly are a clear indicator of the industry’s success on a national economic level without sacrificing income for individual workers.
Beyond just the relatively cheap work, the quality of work for which Filipino workers are trained is what attracts the American companies. Educational institutions work hard to make sure the students are trained in accordance with US standards in most fields like accounting and legislations, and other companies become more comfortable with outsourcing increasingly sophisticated operations. Many workers have become qualified to perform a number of outsourced tasks like “field customer complaints, generate sales prospects, code data, formatting documents and study medical scans along with legal briefs,” in accordance with a related article.
On top from the relatively low price tag of labor along with increasingly diversified experience, the Philippines has achieved significant success inside BPO industry as a result of the country’s similar tradition and fast-growing populace. Younger people are familiar with the digital age and tend to be more attuned to the needs of American businesses and their customers. They are also more equipped to handle the stress associated with the job.
Today the Philippines’ BPO market generates about $25 million in revenue every year, which is approximately 10% of the country’s economy. In the interconnected, globalized financial system, physical boundaries tend to be less important as companies look for opportunities for more efficient operations on an international scale. BPO-related companies inside Philippines recognize their prowess in the profession as they continue to find ways to grow in the market.
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