The BPO industry is contiously growing and is predicted by economist to reach a whopping $500 billion in size by 2030. As the world economy continues to grow amidst major disturbances such as the war in Ukraine and trade war between the US and China, the need for outsourcing continues to grow in parallel with the growth in the world’s economy. More and more companies in the US, the UK, Australia and Canada are choosing to export their need for quality human resources abroad.
Why so? It is because of one obvious reason: it has becomes more and more expensive to maintain non-core functional teams by the day. Take the US for example. The US has a federal minimum wage of $7.25 per hour or about $1200 per month. Compare that number with the minimum wage in India which is INR 5340 (USD$60) a month. That is a staggering 20:1 month of wage comparison! Aside from price alone, the quality of education is what we called the developing or global south countries keeps on improving. Education index are measured on different parameters with 1 being the highest possible number given onto a country, while 0 being the lowest.
Asian countries where these outsourcing services are mostly sourced from have seen a constant rise in score in the past years. Say India and the Philippines, both have seen a slight rise in their education index. One country worth mentioning is Indonesia. Indonesia has gone up 0.04 points from 0.64 in 2018 to 0.68 in 2022. Combined with it being the 4th most populous nation in the world plus its growing number in middle class and productive population, Indonesia is a gem yet to be discovered.
There are several factors to consider when choosing your BPO partner: credibility and service.
In the ever-growing world of people looking for shortcuts to make money by scamming people, we need to raise our awareness and be wiser in choosing our vendors. This is when looking into company’s credibility needs to be focused on before reaching a decision to use this or that vendor. The big question is: how to look into a company’s credibility as credibility is more qualitative than quantitative aspects/traits of an organization?
The answer is not that simple but by looking at track record/history, we could get a higher probability of getting ourselves into a better understanding of the character/intention of the individuals running a company. As characters are inate, we can see a pattern of repetition in what people has done bad/good. So in order to choose the right BPO, we first need to opt out outsourcing from countries where scamming or hacking is ubiquitous. Second, to see more specific into the company, we can see job sites ratings.
There, we can get a glimpse of whether the company is legit or fraudulent. A company where there are even the slightest indication of customer getting ripped off or frauded and has a rating less than or equals to 3/5 or less should be avoided altogether! Service is next to consider when choosing a BPO partner for your company. First of all, we need to understand that communication the most important factor when considering working together in a team.
As BPOs are mostly catering companies in English-speaking countries, the near-native level of English and understanding of culture of the countries where client companies is located is very important. So we really advise you to choose companies run by native english speakers, or people that graduated from english-speaking countries. We can also note small behaviors such as how quick the BPO responds to our requests and punctuality in attending meetings as things to consider as well as part of service excellence.
Entryminds is a solution that guarantees all your doubts are taken care of and guarantees your peace of mind!
Joshua himself has an eclectic Curriculum Vitae, starting his career with Deloitte as part of their Risk Advisory Team, Google Play in Mountain View, California, Facebook with their Ops team, product manager with BCA Bank in Jakarta. Throughout his time studying and working in the US, Joshua has gained a clear insights into the level of service and credibility that is needed to gain the trusts of US businesses in specific and western comapanies in general.
We structure our workforce in a way that integrity in keeping disclosure of integral client datas are rewarded, while leaking datas are criminally prosecuted. We also ensures continuity of service all year long and expertise throughtout different range of industries. That combined with our competitive pricing could give customers the best option when considering to hire a BPO for your company.
