BPO Industry and Economic Recession

Business Process Outsourcing or BPO is an industry that has been witnessing a sustained double digit growth for past two decades or so. It is a segment of the information technology which is at the heart of the Enabled Services industry. Amid being a multidimensional sector which covers a wide spectrum of services comprised of customer support services, help desk services, telemarketing, technical support and data-entry services, insurance services, online research and many others, its potential for growth is huge. And this prospect of the sector has been realized at a time when most of the previously outperforming industries around the world are experiencing a steep decline.

Diversity of the BPO Industry is not only the core contributor towards the huge profits attributed to the sector; it also provides the foundation for its economic resilience. By economic resilience here we mean its responsiveness towards the phenomenon of recession or financial crunch. At a time when businesses world around are being through difficult times, BPO industry is blossoming. And the reason for this trend is its positive relation with both ‘ups’ and ‘downs’ of the conventional businesses. The how’s and why’s of this phenomenon have been discussed below.

As soon as a recessional phase hits the business world, companies rush to opt for austerity measures that usually culminate in slashing the expenditure on traditional ways of marketing. Rather, they decide on the cheaper alternative of outsourcing which has become a cornerstone of modern day marketing. Amid the realization among industries that recession demands for more aggressive but cheaper advertisement and promotional campaigns, instead of harming, financial crunches usually contribute towards the growth and expansion of the BPO industry.

On the contrary, as the recovery phase begins and companies can spare more resources to market about their businesses, besides the traditional ways of advertisement, they also increase their expenditure to approach the potential customers through outsourcing. Thus, the BPO industry once again ends up in reaping more money. This very feature of this sector is perhaps the biggest reason for why not only investors feel comfortable while pouring their money into it, but also the potential employees who are looking forward to carve out a future out of this highly profitable sector.

Given the details mentioned above, it is very likely for the recession stricken individuals to opt for a career in the BPO industry. The convincing point in doing so is not only that it ensures the safety of job, also because it does not demand any prior experience, it offers on job training, promises a competitive salary and tremendous opportunity to learn, grow and move up on the ladder of career development. The only commitment this sector demands from the employees is the resolve to learn and grow on daily basis. If you can promise to raise the bar of your performance, it can promise to multiply the rewards manifolds.

On a concluding note, the factual result which emerges before the readers is that BPO industry is not only a point of solace for those marred by the affliction of recession, it is also a top choice for those looking forward to begin with a promising career.

Posted by Fayyaz Yaseen on Oct 15 2011. Filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry