The term BPO, or Business Process Outsourcing, has become a vital element in many industries.
But what exactly is BPO, and how does it benefit those working offshore?
Let’s explore the realm of BPO and the 5 key advantages it offers to employees stationed offshore.
BPO, short for Business Process Outsourcing, involves contracting specific business operations to an external service provider.
These operations range from customer support and IT services to accounting and human resources.
Companies leverage BPO to streamline processes, increase efficiency, and focus on core business objectives.
5 BPO benefits for offshore employees
In the 472nd episode of the Outsource Accelerator podcast, Derline Perez, SixEleven BPO Operations Manager, discussed the benefits they give to their offshore employees.
1. Government benefits
Offshore employees often gain access to various government benefits, varying based on their location and the outsourcing company’s policies.
2. Higher pay
One of the most compelling advantages of BPO for offshore employees is the potential for higher pay compared to local job opportunities.
Companies often provide competitive salaries to attract and retain skilled professionals, offering a chance for better financial stability.
“[When you compare] our BPO salary to a regular job, even if you are a professional, we [offer a] way higher [salary] than them. It’s double.” Derline highlighted the financial advantages of BPO.
3. Monetary incentives
Beyond base salaries, BPO roles for offshore workers can include monetary incentives like performance bonuses, allowances, and rewards programs.
The SixEleven manager added, “We provide perks, provide rewards and commissions to our employees aside from having the basic salary. Aside from the higher pay that you are getting, you are still earning much more depending on how you perform.”
Health Maintenance Organizations (HMOs) are frequently part of the benefits package for offshore BPO employees.
Access to comprehensive healthcare coverage supports employees’ well-being and contributes to their job satisfaction and security.
5. Career ladder
BPO roles present abundant opportunities for career advancement. Employees can climb the career ladder through training programs, skill development initiatives, and mentorship. They will achieve higher positions and responsibilities within the organization.
Further, Derline discussed the substantial opportunities in the Business Process Outsourcing (BPO) industry, particularly within SixEleven.
The guest emphasized the career advancement prospects within the organization. She mentioned the firm’s promotion process, highlighting SixEleven’s practice of promoting individuals from their internal talent pool.
In addition, Derline provided insights into the criteria for promotion, “If we can see an agent who performs well, we look at them to promote—probably in two years or a year from now.”
How to implement BPO benefits to offshore employees
Implementing BPO benefits effectively requires a strategic approach to ensure maximum impact and employee satisfaction.
Assess and customize
Begin by assessing the specific needs and preferences of offshore employees. Customizing benefit packages based on these assessments ensures its relevance and value to your remote team/s.
Comply with local laws and regulations
Stay updated on and comply with local labor laws and regulations. Ensure that your benefits packages adhere to legal requirements in the offshore location, avoiding any potential legal issues.
Implement fair and transparent performance management processes. Provide regular feedback, conduct performance reviews, and offer opportunities for career advancement to keep offshore employees engaged and motivated.
Continuous evaluation and enhancement
Regularly evaluate the effectiveness of implemented benefits. Continuous improvement ensures the benefits package remains competitive and relevant in a dynamic business landscape.