Monday, 12 June 2017

What makes Philippines so successful in BPO industry?

BPO industry is known to be one of the fastest growing industries across the globe. This fact remains the same for the Philippines; one of the top 100 outsourcing destinations. It was in the year 1992 when Frank Holz created a first contact center in the Philippines under Accenture group; there was no looking back after that. The progress of this industry in the last 25 years has been ecstatic. The overwhelming response meant increased business and work opportunities for Filipinos. According to the research, in 2013, the 900,000 Filipinos were employed full time in this industry, and the revenue generated was $15.5 Billion. This progress further continued with the annual projection of 17% more annual revenue growth and 1.3 million new jobs in the year 2016. But what's so special about the Philippines? Let's take a look at certain facts behind the massive success of BPO industry in this country.

A massive workforce
Each year, around 500,000 college graduates are produced with great English-speaking skills by the higher education institutions in the Philippines. This helps with the increased demand and supply of efficient BPO employees. The right skill set is given more importance in this country. The various governmental organizations and educational institutions work together in assisting the students to acquire pertaining skills in the field of management, IT, business administration, and so on; great effort for providing the right talent to BPO industry.

Right talent for the right job
There is a great difference between having someone for the job and having someone perfect for a job. Well, the later is true with Filipinos. The employees here are not only fluent in western-accented English, but are patient by nature; a rare trait that is a boon to the BPO industry. This quality comes in handy while working with irritated customers. On the other hand, their close resemblance and lifestyle to the western culture and amazing problem-solving skills set them apart from the competition across the globe.

Highly supportive government
The annual GDP from BPO industries is around 10% in this country. Well, it is not just the diligent efforts made by the industries, but it is also the highly supportive government that makes it a success. The efficient government here is always quick to pass key legislative that in turn favor many global organizations that plan to outsource their business to the Philippines. One recent example of this is the Data Privacy Act passed by the government. With this act in place, the stringent international quality data privacy standards are in place, and as a result, any sensitive information handled on a regular basis can remain secure. 

A great infrastructure
There is also a very well planned infrastructure in place. The country is not only looking at the amazing progress happening in the present but also planning well for the future. So the BPO industry is every improving and adding up to the current progress. Looking at the current scenario and the well-organized plans put in by the government and industries together, Philippines has a lot more to offer to the world of BPO industries

There are many other facts contributing to the progress of Philippines success, but the above points are the main reasons for the amazing progress in the BPO industry.

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