Asia has now become the prime offshore location for various outsourced jobs. This is so since global businesses can acquire the services they need at cost-effective rates. Language is another “critical” factor. And it is here that BPO sector of the Philippines has the better edge over other offshore locations in Asia. The country’s young, service-oriented, and efficient workforce takes pride in their high proficiency in written English, which makes it convenient enough for international companies to start an effective working partnership with the country’s BPO services. Communication is not an issue at all.
While the Philippines may have some difficulty edging out India via the demographics (about 484 million Indians are aged 25 to 54, while the Philippines can only field in 38 million of the same age range), things worked out differently instead. India has already lost a precious 10% of her global, outsourced jobs in just 5 years. The country’s BPO industry on the other hand, is simply going up, and fast!
The Dramatic Rise of BPO Philippines
Experts have made it clear that the proficiency in the English language and skill competency, which created the conditions for a better work output efficiency and general productivity, has made the Philippines an ideal offshore location. And while the main component is already in place, strong govt. support comes at the right time to help make things happen. Studies have shown that the Information Technology and business processes management (IT_BPM) industry have employed about 776,794 individuals at the end of 2012, and another 137,066 jobs were created after that. This clearly reflected the incredible 21% growth that was declared back in 2011.
And if the figures will continue to roll forward, the 1.3 million in employment projection by 2016 will surely be achieved, all thanks to the great support given by the government with its approval of key legislation needed to fuel the industry. The recent passage of the Data privacy Act is a key element in protecting BPO Philippines. The whole infrastructure was secured thanks to govt. efforts to prioritize the international data privacy standards. This is critical in the handling of sensitive information (especially financial transaction details) that filters through the BPO sector.
Overall, the Philippines is looking forward to a strong manpower growth. The IT sector has produced the highest number of graduates every year nationwide. Before these individuals can receive their degrees, they had to go through intense on-the-job programs and exposure to the business industries. What comes out is a quality addition to the workforce. And that again, is the reason why global businesses love BPO Philippines.
The country is also known to reward incentives to foreign companies who have decided to invest and set up their infrastructures here. These numerous benefits include tax incentives, permanent resident statuses, development assistance, and other forms of govt. support.