The Philippines’ fast-growing business-process outsourcing industry has turned the Asian nation into a major center for off-shored information tech services. The country recently passed India as the world’s top outsourcing destination, according to a report by the services arm of International Business Machines - which has a major presence in the country.
The outsourcing industry has become a major driver of employment growth, highlighted by the presence of major IT services companies such as IBM, Accenture and Convergys.
However, that growth has come at a cost, as the industry and the Philippines struggles with social issues among young workers who sleep during the day and work at night — and for whom happy hour is 6 a.m.
“Ten years ago, we had maybe about 25,000 people in the industry,” said Jose Mari Mercado, business development director at Convergys in the Philippines, who said that number reached about half a million last year.
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“The interest in the Philippines has really grown tremendously in the last five years,” he added.
While business outsourcing is typically associated with call centers, the industry actually covers a range of IT services, including customer relations, human resources, accounting and even more specific functions, such as mortgage processing.
In 2010, the Philippines’ IT and business process outsourcing grew 26% to $8.9 billion, according to the Business Processing Association of the Philippines. Workers and professionals employed by the industry grew by 24%, the industry association said.
Globally, outsourcing is expected to grow at an annual rate of 5.3%, reaching $191 billion in 2015, according to an IDC report.
“The BPO services landscape has crossed the chasm and is now poised to significantly impact the efficiency of a customer’s operations,” analyst Mukesh Dialani said in a statement.
Last month, Standard & Poor’s issued a neutral outlook on the overall IT consulting and services, citing “an elevated level of caution on spending on IT services that were more discretionary in nature.” But S&P, citing data, also pointed to “pockets of strength” including projected growth in business outsourcing.
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