The Outsourcing Week in Review: Tuesday, August 31, 2021

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Welcome to Inside Outsourcing: The Outsourcing Week in Review

THE WEEK IN REVIEW

Asia’s offshore industries might be facing some tough competition as Jamaica announced that it expects 50,000 BPO jobs from Asia to be moved to nearshore outsourcing destinations. According to Jamaica Promotions Corporation (JAMPRO) President Diane Edwards, once Jamaica plays their part right, the Caribbean country “can take a lot of those jobs.” Global Services Association of Jamaica (GSAJ) President Gloria Henry added that these jobs will generate an estimated US$1 billion in annual revenues.

Isn’t competition exciting!

Around 90% of major Japanese firms are experiencing “difficulties” in terms of remote work. In a study done across 117 companies by local newspaper Yomiuri Shimbun, the participants noted that their main struggles are “lack of communication among employees,” and “maintaining equipment and a communications environment.” Is your remote company experiencing the same thing?

In Egypt, the Information Technology Industry Development Agency (ITIDA) and lifestyle provider Majid Al-Futtaim (MAF) Global Solutions signed a partnership agreement to build a shared services center in the country, which will provide at least 600 new job opportunities for Egyptian employees. ITIDA CEO Amr Mahfouz recognized Egypt’s “increased appeal for foreign investors,” and noted that the partnership will boost the country’s position as “one of the fastest-growing offshore destinations in the world.”

Despite the economic hardship caused by the pandemic, Business Process Outsourcing (BPO) firms seem to remain buoyant. Global omnichannel outsourcing firm Support Services Group (SSG) has acquired Canadian tech company Innovative Vision. This deal will support SSG’s expansion plans into Jamaica and Canada over the next few years. Further, Standard Bank Insurance has announced a collaboration with India’s Tata Consultancy Services’ (TCS) banking software suite TCS BaNCS Cloud. This partnership will help the South Africa-based insurer improve its digital claims process by integrating over 60 products across the firm’s platforms. Meanwhile, another Indian tech giant is making strong inroads into Europe. Global IT firm Wipro just landed a multi-year contract with energy company E.ON. Wipro is set to manage the electric firm’s new IT system, which will support over 16,000 clients across eight European countries.

In BPO news and updates, leading CX and IT services provider CSS Corp announced that it will be hiring 2,000 more workers across its global locations by the end of 2022. This move follows the firm’s celebration of achieving the 10,000-employee mark this August, just in time for its silver jubilee year. Congratulations, CSS!

Other outsourcing firms across the globe are looking to add more employees to their teams. Guyana-based firm Midas BPO, for instance, is set to expand its operations locally, which will employ over 1,000 new workers by the end of the year.  Jumping back to India, outsourcing firm QX Global will open over 1,200 positions in the country as part of its commitment to hire more than 3,000 locals by May 2022. Global Director Frank Robinson lauded the “brilliance” of the Indian BPO workforce, adding that “there is a larger need for such professionals to service global clients [post-pandemic]”.

Admit it or not, businesses and employees alike were first doubtful of the effectiveness of remote work. However, a recently published analysis by Glassdoor revealed a 460% surge in remote work searches between June 2019 and June 2021 in the United States. Glassdoor senior economist Daniel Zhao explained that working from home over the past year has shown people that remote working can be a viable option for jobs worldwide. He added that the interest in working from home will remain high even though health restrictions are being lifted and businesses are getting ready for on-site operations. The availability of these remote job opportunities is an apparent sign that a country’s economy is recovering. In India, job search platform Apna announced that verified jobs in the country have more than doubled to around four million in Q2 as applications rose by 85%. Founder and CEO Nirmit Parikh said that this is positive news as it will help the country’s economy restart after the pandemic.

Struggling to find the employees you need?  Brazil is forecasted to have over 400,000 unfilled IT jobs by 2022, which could cost an estimated US$32 billion in lost revenue between 2010 and 2020. According to a study conducted by social organization Softex, the shortage of tech professionals in the country is the biggest challenge for the country’s IT industry. Assespro-PR – Brazilian Association of Information Technology Companies CEO Lucas Ribeiro advised that Brazil should start strengthening its local talent pool, or face losing its title as the “world’s 10th biggest IT market.”

Maybe…. they could try looking offshore to the Philippines!

 

Tuesday, August 31, 2021

NEWS THIS WEEK

 

30 August 2021

27 August 2021

26 August 2021

25 August 2021

  • SSG acquires Innovative Vision – read article…
  • ITIDA, MAF to establish a shared services center in Egypt – read article…
  • 90% of major Japanese firms ‘challenged’ by remote work – read article…
  • Digital firms investing over 3% on tech saves up to 29%, said HCKT – read article…

24 August 2021

  • GlowTouch opens new center in India – read article…
  • India gov’t sets deadline for Infosys’ income tax portal – read article…
  • CSS plans to hire 2K employees by end of FY2022 – read article…
  • Economists eye Delta variant’s effect on the global economic recovery – read article…

 

Read more here:

  1. The Outsourcing Week in Review: Tuesday, August 17, 2021
  2. Top 5: Highlights for the month of March 2018

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$39,066
$42,240
$31,797
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Australia $62,653
United States $81,994

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Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.