As Trump’s presidency became one of the highlights of 2017, the business process outsourcing industry (BPO) sparked an intriguing issue throughout the year and created a fright for most brands regarding its benefits. Nevertheless, despite last year’s adverse foresight on BPO, the industry came out firmer and more stable. As we welcome 2018, the impact of Trump on outsourcing jobs remains unclear. However, the Bureau of Labor Statistics (BLS) released their latest unemployment rate report in the United States and as of January 5, 2018, the unemployment rate rested 4.1% from the prior 0.6% up. Even the idleness rate for teens went down to 13.6%, which is a good sign that there’s no objection to Trump on outsourcing jobs. More Americans landed job prospects even if U.S. trades are moving abroad faster than before.
Since the Trump administration swore to trace lost jobs for Americans, statistics show that 10,000 jobs from federal suppliers moved abroad. This means that outsourcing still caters height for most brands. Brands who feel uncertain of the global outsourcing industry this 2018 can rest easy as the BPO industry retorts to challenges laid with the Trump effect.
Trump on Outsourcing Jobs: Is It a Threat to Your Business?
It’s almost a year after the Trump administration promised America of “changes”. However, as per BLS, 2017 lost more than 93,000 jobs to outsourcing or trade. This means that the global outsourcing industry in 2018 is in hype. As per Quartz, to keep good jobs in the U.S., the Trump administration requires major fixes to provide most firms’ needs. Most companies yield more than just money; outsourcing aids and supports tasks that are too much to handle. As of now, the global outsourcing industry remains tough to cater the risks and adapt to changes, which is a good deal.
How Do BPO Companies in the Philippines Stride the “Trump Effect?”
The BPO industry in the Philippines manages to defy risks brought by Trump’s Outsourcing Executive Order. Even from last year’s “rebalancing” phase, call center in the Philippines managed to re-surge into its track with a clear vision ahead. So how does the PH outsourcing industry dare risks from Trump on outsourcing jobs?
1. Constancy and Reliability
Although there’s an unstable foresight for the global outsourcing industry in 2018, the Philippines outsourcing firms stand to pull off firm services and reliable workers. BPO companies in the Philippines continue to prosper and react positively to Trump on outsourcing jobs.
2. Expansion and High-Rates
Previously, outsourcing services ranged from voice-based, IT-related services, and customer services. With the fast-paced global trends, we’re down to provide services tailored to different industries in various types. Offshore services continuously expand the range of aid we can offer to grow most firms. More brands stretch mainly from the U.S. which is an indication of a blooming career in the global outsourcing industry in 2018. As PH caters exceptional services, the country continues to develop more cities into outsourcing targets.
3. AI (Artificial Intelligence) Technology Trend
As one of the trends that will eventually dominate 2018, AI technology joins the BPO industry. You’ll hear more of it as it brings great heights to almost all industries. This means that more workers need flexible and soft skills to maximize the trend. The Philippines outsourcing industry has proven its stand to offer the best service. Moreover, PH secures adaptable workers that can adjust to AI trend.
The Philippines Outsourcing Industry Resurgence in 2018
Property veteran David Leechiu said, year 2018 could accumulate as high as 800,000 to 850,000 sq. This forecast is obvious as PH braces bond with the United States. Leechiu explains that as the rental rates in Metro Manila rises by 10-15%, Manila would land as the third major office market next to China’s Shanghai and Beijing.
Leechiu added that sights would be brighter for the BPO industry in 2018. The dual form of the PH tax reform seems to be kind with the global business outsourcing industry. The Association of Southeast Asian Nations (ASEAN) Summit reaffirms that the relationship between the US and the Philippines marks a stable outlook.
Although change is constant, PH outsourcing industry remains steady to take on challenges. The impacts of Trump on outsourcing jobs can either bring risks or even open more doors to grow your trade.