Taking a look at the current financial crisis, one may not feel too optimistic about business process outsourcing( BPO) industry in India. However Mr. P. G. Raghuraman, Lead Delivery Centers for BPO in India, Accenture, sees the positive aspects in the growth of BPO service providers and also potential for the industry to attract young professionals as their chosen career.
According to Nasscom study, the current size of BPO industry is $11 billion and it is expected to grow by five-fold in size to $50 billion by the year 2012. This growth in Indian BPO will add nearly 2.5 percent to the India's GDP from the export earnings and employment to nearly 2 million people.
There is popular belief that,there are numerous job opportunities but fewer career opportunities in BPO sector. This is not true,the Indian BPO industry has boundless career opportunities. This is evident from the fact that, over the years the BPO services have grown from just voice to other customer relationship management services like human resources,finance and accounting, learning and procurement, animation and multimedia, legal transcription, content development, as well as industry-specific services focusing on the health care,insurance, pharmaceutical and utility industries.
The companies in the life science industry are quite familiar to the process of outsourcing. They outsource some of their critical process like drug discovery, product manufacture,clinical trials and data management. Thus the mainstream BPO service providers requires special knowledge and skill set to perform the traditional life science functions such as clinical data management and monitoring of drug safety.
India happens to be one of the most attractive destination for such specialized functions due to low cost benefits and availability of high skilled work force.
Today, the Indian BPO companies are creating comprehensive roles for employees by expanding globally and providing them the opportunity to work on multiple verticals. It is indeed a fast growing industry as it provides ample opportunity for growth and entrepreneurship.
This change in the role of BPO sector from transaction-processing to high end specialized services has led to the growing demand of skilled workforce. Today the industry needs capability development. Even the professionals with degrees like M.tech,MBBS,MBA, CA, ICWA are taking up work in domain specific back office processes in advisory,analytical and consulting arena. This requires a clear relationship between IT/BPO industry and the academic world which train the workforce with industry specific jobs.
Nowadays even parents are becoming more supportive to the youngsters who want to join the BPO industry because they genuinely see it as a long term career. There is a realization that, BPO are not only about call centers but providing the right opportunities, skills and global exposure. In a nutshell the employees in the BPO industry are now getting challenging careers with tremendous job opportunities,hands-on experience,information about the culture and customs of various countries across the globe. This experience in understanding and appreciation of diversity is valuable for their personal as well professional growth.
Of late, BPO industry does get support from reputed academia. There are companies who provide training programmes specifically designed for the BPO sector in collaboration with some of the renowned institutions of India. More courses of this nature are being designed by other companies to provide outsourcing services. This one step forward towards making BPO as a long term career opportunity.
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