The local business process outsourcing (BPO) industry remains optimistic despite the bloodbath last August 23, 2010 at the Quirino Grandstand in Manila. The continuous acceptance on outsourcing has proven that despite the tragic crisis that took the lives of nine Chinese nationals, the Philippine outsourcing is still standing.
In a press briefing by President Benigno Simeon “Noynoy” Aquino III, the Philippine economy is still intact and shows an unfazed potential for growth. He further added that the economy does not exhibit any sign of distress, despite the tragic ending of the hostage taking. “We were not derailed. I’m happy to report that economic and business prospects are still bright,” he said.
Reports show that various companies and players are still eyeing the possibilities of expanding their branches in the Philippine outsourcing industry. One example is the expansion of Convergys (NYSE: CVG), a top BPO player in the country. The company currently houses 17, 000 employees and is planning to hire around 5,000 more this year.
In addition, other BPO companies that are planning to expand its operations in the country are Rainmakers System (NASDAQ: RMKR) and Salmat (ASX: SLM).
The BPO-telesales service company, Rainmakers, opened its doors for 2,012 individuals. On the other hand, the Australian-owned company, Salmat, announced its plans to hire an additional 200 individuals for their new office located in Taguig City. These new employees would serve clients from several countries in New Zealand, Australia, and Japan.
Aside from these big players in the BPO industry, more and more Philippine outsourcing companies are starting to create a niche of their own in the offshore market. Surveys conducted by the Business Processing Association of the Philippines (BPAP) and Outsource2Philippines (O2P) showed that about 80% of the BPO players in the country showed 6 to 80% workforce expansion within the next 12 months. This only proves that the trust and confidence of foreign investors and employers still remain in the Philippines.