The Rise of BPO Industry in the Philippines
The industry of business processing outsourcing has definitely come a long way since its inception. It officially started in 1992 and with just over two decades, you can say that the business process outsourcing industry is one of the prolific fields today and has become one of the reasons why the Philippine economy is thriving and will continue to grow.
Have you ever wondered what the reason behind the success of this field was? How was it in the beginning? Let us take a look at how this stable industry has started, how it achieved its success, and what are the things that you should look forward to in the coming years.
Significant milestones in the BPO industry
Almost every successful venture or industry starts from the bottom. Before BPO became one of the robust and stable industries in the country today, business process outsourcing goes through several changes and innovations to achieve what it is today. It has been quite a journey indeed. Go ahead and take a glimpse at some of the significant milestones of the business process outsourcing industry.
- Accenture Global Resource Center was the first contact center in the Philippines. It was founded by Frank Holz in 1992. Its inception marked the start of BPO industry in the country.
- Sykes, one of the multinational BPO companies, had its first operation in the Philippines in 1997.
- Jim Franke and Derek Holley founded eTelecare in 1999. eTelecare is considered as the first call center in the Philippines.
- Philippines earned the 3% of the global BPO market in 2005.
- ePLDT Ventus was once the leading BPO company in the country. This company leads the BPO field in 2006 and is responsible for the increase of domestic economy of the Philippines during that time.
- Philippine Economic Zone Authority (PEZA) was established by former president Fidel Ramos, which paved the way for foreign firms to establish their business in the country. In this regard, BPO companies received sufficient support from the Philippine government.
- Former Department of Trade and Industry (DTI) secretary Mar Roxas formed the Contact Center Association of the Philippines (CCAP) that has planned to promote the Philippines as one of the global leaders in the industry of BPO and IT.
- In 2010, the Philippines has been declared as the world’s business processing outsourcing capital. This can be considered as one of the highlights of BPO in the country as there were over 250,000 BPO employees working in several call centers throughout the country.
- Over 600,000 Filipinos were working in several call centers across the country in 2011. Almost $11 billion revenue was generated during this time. Hence, this made the BPO industry as one of the largest and fastest growing job providers in the Philippines.
- In 2016, the BPO industry has generated over 1.3M new jobs for Filipinos. This projected to increase by 17% per year.
The current landscape of BPO industry
The business process outsourcing industry is undeniably the most lucrative sector in the Philippines today. Did you know that the BPO field makes up the 80% of the country’s business sector?
In this regard, BPO companies in the country today have a wide range of fields from accounting and finance, digital and Internet marketing, medical transcription to IT and software development. Moreover, BPO companies ranges from start-up to the large-scale businesses, which provides quality services to their clients, meet the specific needs of their Filipino employees, and amend to what is needed in the Philippine market.
Furthermore, the BPO industry in the Philippines is evidently growing in both employment and revenue.
BPO trends to look forward to
The advances in technology bring several benefits to many companies, especially the BPO sector. BPO companies can provide excellent service to their clients with the help of new technologies and innovations. Here are some of the trends that will dominate the BPO landscape in the coming years.
- Better information security – Most BPO companies offer services wherein they handle confidential information of their clients. In this regard, BPO companies promise to have a better security to keep their client’s information. Thanks to new technologies, companies have been enabled a full security of their data and files, giving their clients a high-quality service with top-level security.
- Transition from hardware storage to cloud servers – One of the advancements of technology today is the cloud computing. With this, the shift from hardware storage to cloud servers is currently being implemented in several call centers in the Philippines. This transition includes the utilization of cloud infrastructure, platforms, and software. With this kind of development, call centers will not have a hard time storing their data and files since everything is in the cloud, regardless of how many their documents are.
- Social media outsourcing – Today, social media has become a part of people’s everyday lives. This is why many brands and companies are maximizing the use of social media in creating brand awareness and establishing consumer base. In this regard, the need for talents, who are efficient in digital marketing, will eventually grow in the coming years. This trend will push BPO companies to create more services about social media and hire people who are efficient and keen to social media marketing.
What is it like to work in a BPO company?
BPO employees are known to have an impeccable English skill, strong work ethic, and great patience when dealing with difficult customers. These are some of the minimum requirements when applying for a BPO company or you could say that these are the things that you can gain when you work for a BPO company.
More than acquiring these traits, it is also important to learn what’s it like to work in a BPO company. Here are some bits you need to know when you want to build a career in this growing industry:
- You are not confined with the 9 to 6 schedule – Everyone knows that when you work in a BPO company, there are lesser chances of having the typical 9 to 6 schedule. BPO employees often works on shifts, odd hours (since most BPO companies follow the time of international clients), weekends, and even holidays. Sounds negative? Not really. These types of shifts are often temporary. In some cases, employees can work from home as long as they can complete an 8-hour shift in a day, which benefits working parents. Furthermore, some BPO companies offer flexible time schedules, which is favorable to those who live far from their office.
- Promote work-life balance – Even though BPO companies do not have the typical office hours, the BPO industry ensures that their employees can still achieve work-life balance. In this regard, BPO companies provide enough vacation and emergency leaves for their employees, company events that invite employees’ families, and organize sporting tournaments. HR departments also conduct regular check-ups and provide wellness programs to their employees, ensuring that despite the odd and changing shifts, employees can still maintain and improve their health that makes them productive and efficient in the workplace. Indeed, the concept of work-life balance benefits both employees and employers.
- Well-compensated – One of the advantages of working in a BPO company is that you are assured that you are paid well. The overall compensation in most BPO companies in the country is certainly attractive. Apart from the basic pay, BPO companies also offer life insurance, health cards, non-taxable allowances, and night differential pay. Moreover, if an employee hits his/her quota or perform well, he or she can have a performance bonus. Sounds good, isn’t it?
- Opportunities for career growth – Often, BPO companies are seen as just an option for people, who are waiting for job offers from other companies. However, on the contrary, opportunities in BPO industry are abundant too. Many BPO companies are providing opportunities that will help their employees reach career growth and stability. These opportunities are done through training (education and leadership), seminars to improve technical skills, and workforce management. Moreover, some BPO companies even conduct their trainings and seminars overseas to fully enhance the skills of their employees. Furthermore, age and seniority is not an assurance to get on the top. As long as you are doing your job efficiently, you can reach the upper position, regardless of your age and years of service in the company.
- Provide learning opportunities – Apart from professional growth, personal growth is also prioritize at BPO companies. Some companies offer personal development through career programs in which their employees are interested with. Trainings with certifications are provided by some BPO companies to hone not only their skills but their personality as well, which will enable them to perfectly fit positions, such as team leads, country managers, and even much higher positions. Additionally, they can provide their employees personal loans, which will help the latter finish their degree, in case they are still studying.
Such programs and benefits will absolutely provide wide learning opportunities for BPO employees.
- Assurance of long-term career – As mentioned above, for some people they find BPO companies as their option for a temporary job. In reality, jobs in BPO companies are not only for a seasonal one, but for a long-term career as well. In case you are looking for a long-term and stable career, BPO industry is the perfect option. Since this industry has maintained its strength, it is safe to say that a long-term career is absolutely possible when you choose this field.
- Great exposure to global brands or companies – Most of the BPO companies in the country handle international clients. With this, BPO employees can have a glimpse of the current and upcoming international trends. This will not only help employees be equipped, but also make them efficient in their respective fields.
These are just small details of the bigger picture. Surely, there are more advantages once you decided to work in the BPO field. Building a career in the BPO industry will definitely give you a career and financial stability since the future of this industry is bright and promising.
The future of BPO
For the past few years, the BPO industry is cultivating a business landscape that benefits the Filipino employees and the country’s economy as well. With its current state, it is safe to say that the BPO industry will definitely continue to flourish and reach optimal success in the coming years.
Today, the growth of the BPO industry is not only seen in Manila but in other cities throughout the country as well. Several commercial hubs are now growing in cities of Cebu and Davao. It is projected that more cities will be dominated by the BPO industry in the future because of the growing demand for this type of field.
In this regard, the demand for massive workplace is also high. In fact, the BPO industry has generated 1.3 million new jobs throughout the country last 2016. In the coming years, there will be more than 1.5 million new jobs in the BPO industry, hence, increasing the country’s revenue as well.
Furthermore, the innovations and developments in technology will aid business processing outsourcing companies deliver high-quality services, stay ahead in the market, and go beyond what is expected.
Indeed, there are several call centers in the Philippines that are continually growing and making waves in the business industry. One of these BPO companies is Piton Global.
Piton Global, a leading outsourcing provider, is driven in providing high-quality services to its clients. Some of their services are facility build and lease services, human resource management services, process improvement consulting, and site selection.
Apart from these, Piton Global is known to use cutting edge technologies and state-of-the-art-facilities, making them one of the most efficient and trusted BPO providers in the country.
Moreover, Piton Global’s employees are committed in delivering world-class services, such as inbound calls to their clients. They are well-trained in using innovative and cutting edge tools to ensure the quality of their services.
To know more about Piton Global’s solutions, click on this link: http://www.piton-global.com/solutions/bpo-set-upma.html.