The Outsourcing Week in Review (International): June 12, 2023

Welcome to Inside Outsourcing: The Outsourcing Week in Review

THE WEEK IN REVIEW

Fun fact: Brazil is celebrating its Valentine’s Day today called ‘Dia dos Namorados. So, why not seize the moment with your special someone or join us in celebration if you’re flying solo? Inside Outsourcing is all about love today!

More voices are expressing optimism about Nigeria’s outsourcing industry. Tech entrepreneur and IQI Technology CEO Shakiru Kolawole Adepoju recently agreed with the industry projection that Nigeria’s Business Process Outsourcing (BPO) market could reach $280 million this year. Adepoju is confident about the future of Nigeria’s IT and outsourcing sectors, spurred by the nation’s burgeoning tech solutions and service providers. He added that this drive toward innovation sets Nigeria on the path to becoming a global powerhouse of tech excellence.

The role of BPO in fostering economic growth is not lost on other nations, as reflected in Jamaica’s recent efforts. During the inauguration of the 76 Red Hills Road Business Centre, Minister of Industry, Investment, and Commerce Aubyn Hill, highlighted the BPO sector’s vital contribution of $136 billion annually to Jamaica’s economy. The Minister also highlighted the necessity of upskilling to foster a competent workforce capable of meeting the evolving demands of the labor market. But the Carribean nation’s expansion does not stop there! Businessman Mark Kerr-Jarrett announced the launch of Jamaica’s third BPO incubator called the Barnett Business Centre. The 80,000-square-foot facility aims to support smaller BPO operations, allowing them to gradually scale up and eventually relocate to larger spaces within the tech park. The center will also host commercial spaces to “foster a balanced ecosystem of diverse client needs.” This move underscores Jamaica’s commitment to expanding its outsourcing industry which is expected to reach about 75,000 employees by 2025.

Continuing this trend of growth, Jamaica will showcase its revamped outsourcing brand at the O2LAC Summit. The summit provides a global platform for the country to demonstrate its advanced capabilities in BPO, Knowledge Process Outsourcing (KPO), and Information Technology Outsourcing (ITO). The nation aims to leverage its robust industry performance to assert its position as the premier outsourcing destination in the Latin America and Caribbean regions.

The city of Tanjay, Philippines, recently welcomed WrkPod Campus, its Indiafirst-ever outsourcing company. Owned and operated by Australian entrepreneurs Dale Beaumont and Kody Thompson, the firm is expected to open job opportunities for local young professionals in the city. In an interview, Beaumont emphasized the company’s openness to hiring individuals regardless of academic credentials and their plan to offer free courses to help employees learn and excel in their fields. Meanwhile, several BPO companies will participate in Nationwide Independence Day Job Fairs to celebrate the 125th Independence Day of the Philippines. Hosted by the Department of Labor and Employment (DOLE), the event aims to fill 72,023 job vacancies across different sectors. DOLE Bureau of Local Employment Director Patrick Patriwirawan added that 48 various sites would host the job fairs with 889 participating employers.

However, the outsourcing industry is not without its challenges. In May, recruitment in ’s IT and BPO sectors dropped by 23% and 14%, respectively. According to the Naukri JobSpeak Index, a significant decrease in hiring across all types of IT companies, including global tech giants, large IT services companies, tech-focused startups, and unicorns, was seen last month. However, Naukri.com Chief Business Officer Pawan Goyal remains optimistic about potential recovery as niche tech roles like Machine Learning Engineers and Big Data Engineers are receiving positive hiring trends in the country.

The recruitment challenge extends to gender diversity issues, as IT giant Tata Consultancy Services (TCS) reported a higher attrition rate among women. The company’s Chief Human Resources Officer, Milind Lakkad, sees this as a possible result of the “reset of domestic arrangements,” acknowledging it as a setback to its gender diversity efforts. Despite this, Lakkad insists that on-site work is vital for new and junior employees as it promotes collaboration and mentorship. To solve this, TCS recruited over 150,000 campus graduates in the last two fiscal years, bringing the total employee count to 614,795.

In a broader context, India could supply about 24.3% of the global workforce over the next decade. With a median age of 28.4 years and 67% of its population in the 15 to 64 age bracket, the country is well-positioned to meet future labor shortages. India also boasts a substantial pool of Science, Technology, Engineering, and Mathematics (STEM) graduates. Experts said that the country’s efforts to develop its human capital and leverage its demographic strengths would boost its economy and address labor gaps across various countries.

In celebration of Pride Month, global payment platform Payoneer and outsourcing provider KMC Solutions will host an event honoring LGBTQIA+ BPO leaders in the Philippines. The event will showcase inspiring stories from LGBTQIA+ industry leaders and feature discussions on the importance of diversity and inclusion in companies. Payoneer’s Country Manager Monique Avila said that the event underlines the firm’s dedication to the contributions of the LGBTQIA+ community within the outsourcing sector. It is also a testament to the importance of diversity and inclusion within the industry, emphasizing equal opportunities for all.

Happy Pride Month!

via GIPHY

The outsourcing news this week​..

8 June 2023

• Payoneer, KMC Solutions to spotlight LGBTQIA+ BPO leaders in PH – read article…
• PH province welcomes 1st BPO firm – read article…
• Tech CEO affirms $280M prediction for Nigeria’s BPO market – read article…
• TCS records higher female attrition amid RTO policy – read article…

7 June 2023

• Jamaica to unveil new outsourcing brand at O2LAC Summit – read article…
• Cebu seen as prime BPO expansion hub in PH – read article…
• India, China dominate U.S. H-1B visa program in 2022 – read article…
• BPOs to participate in Independence Day job fairs in PH – read article…

6 June 2023

• IT initiatives seen to boost Pakistan’s digital hub goal  – read article…
• ABSI eyes Globe, Ayala outsourcing partnership  – read article…
• Jamaica to launch third BPO incubator – read article…
• 234K U.S. tech jobs open despite May employment dip – read article…

5 June 2023

• Back Room’s Martin Taylor among Top 10 COOs in PH  – read article…
• Fiscal budget poses challenge to Bangladesh’s IT-BPO growth – read article…
• India to supply quarter of global workforce by 2033 – read article…
• Tech exec calls for enhanced IT education in PH – read article…

 2 June 2023

• Jamaica eyes BPO expansion for job growth, economic boost – read article…
• itel bags GSAJ Award for contributions to Jamaica – read article…
• Infosoft settles immigration-related discrimination claims – read article…
• India’s IT, BPO hiring continues to decline in May – read article…