What’s a career in BPO like? Is it only for college graduates or does it offer a long-term career? Are the jobs only for call centres or are specialized skills required?
Here are a few myth-busting things about BPOs that will surprise you!
Business Process Outsourcing (BPO) is no longer about fresh-out-of-college youngsters working away night-shifts at call centres. Rechristened as BPM, where, 'M' stands for Management, the industry serves the most critical and demanding processes of global brands.
In fact, growing at an annual growth of 14%, the domestic IT-BPM market is fast approaching the USD 50 billion mark. With over 500 companies earning $17.8 billion in revenue, 52% of the global sourcing is from India alone. An excellent example of equal opportunities employer, women constitute almost half the workforce in this industry.
Surprised? Read on to bust a few BPM myths.
BPM jobs are all about call centers: According to NASSCOM, the IT/ITeS representative body, the IT-BPM sector continues to be one of the largest employers in India with nearly 3.5 million professionals. Also, the BPM workforce employs around 15-20% of specialized professionals like scientists, engineers, accountants, doctors, and lawyers among others.
Attrition! Odd working hours must be the reason: The 24x7 work environment is not a new phenomenon in the globalized economy. It is definitely not unique to the BPO industry. Factories, Hospitals, Hotels, Airlines, Media, Armed forces, Transportation sector including Trains, Buses, and the IT industry, etc. are some of the other industries which work 24/7. The BPO industry is no different.
BPM jobs are for college graduates: As per the India Skills Report, across all industries, more than 80% of the employers preferred to hire employees below 30 years. But, they are hiring skilled professionals. As an example, the report states, out of the 1.5 million engineers graduating every year, 70% are absorbed by the IT and manufacturing sector.
BPM jobs are dead-end careers: Only if you have no career focus; the BPM industry is witnessing a growth burst and requires leaders across industry verticals and levels. According to Nasscom, the industry invests in training and career development to create leaders internally. Several 'Learn while you Earn' programs, and structured training programs are designed to help fulfil employees' career aspirations. For this, organizations tie-up with renowned institutions and universities for courses in specific skills.
Finally - It's easy to get a job in BPM: That myth is perhaps partially true. After all, the Indian BPM industry does employ over 1 Million people. BPMs often face the challenge of mass hiring to meet a new project requirement leading to mass hiring, which may be interpreted as "easier to find jobs" but not "easier to get". Often, the hiring process is stringent and time-consuming as the emphasis is on hiring skilled, qualified employees who can take on responsibilities.
The biggest myth buster however is the figures. The IT-BPM industry contributes around 7-8% to India's GDP. Besides nation-building, it contributes to individual wealth creation by being one of the most lucrative jobs. An industry that is witnessing robust growth, it has plenty of opportunities to offer and is an excellent avenue to carve a long-term career. In my next blog, I will discuss the various such career opportunities you can explore in BPMs.