BPO Trends and Expectations in 2022
The BPO industry has been helping brands of all sizes to run their businesses seamlessly. When you outsource your non-core business functions, it becomes easy to give undivided attention to the core ones.
However, the COVID-19 outbreak has forced the BPO sector to change and work remotely.
Let’s check what 2022 has in store for the BPO industry:
Long Term Effects of the Work-at-Home (WAH)
As stated earlier, the COVID-19 pandemic has shuffled the plans of the BPO industry completely.
At present, given the precarious coronavirus outbreak situation, remote work culture is the only option that businesses can opt for.
Of course, remote work culture has its own advantages and disadvantages.
- Employees have flexibility in terms of work, which means better work-life balance
- No more geographical boundaries while hiring
- No more traveling to an office
- High employee engagement
- Productivity is still an area of concern
- Agent turnover rate is higher than in-centre
- Collaboration problems
- New employees take the importance of training and their job for granted
Many reports state that companies have been saving operational costs since the pandemic began, but this is not true in the case of the BPO industry because it has been facing the hassle of uncontrolled money flow.
The employer turnover rate has increased dramatically, forcing BPO companies to offer better salary packages during the exit interview to retain their employees. Similarly, they have to shell out more money than usual to hire skillful employees to maintain productivity levels. This is one of the BPO trends that we are going to see throughout 2022.
Hiring and Attrition Challenges — Here to Stay?
In this COVID-impacted era, BPO companies are facing major challenges related to hiring and employee turnover. It is so because both new and current employees try to work simply to make more money. This is not good as far as business productivity is concerned. So, BPO firms are struggling to improve the QoH (Quality of Hire).
As far as employee attrition rate is concerned, it has been amplifying because workers know that several companies are offering great remuneration to hire people with good skills. So, they want to capitalize on this opportunity. What’s more, the remote work culture allows them to join any company located in any country.
Agent Turnover — Why Are They Quitting?
As we have just explained, BPO agents have been trying to get jobs in multinational companies so they can secure the best salary package. And this BPO trend is likely to continue in 2022 as well because the scare of the corona virus is not likely to vanish anytime soon.
Besides awesome remuneration, BPO agents are quitting their jobs for their peace of mind because dealing with angry customers throughout the day takes a heavy toll mentally. Working on tedious tasks on a daily basis reduces job satisfaction as well.
HR and ‘People’ Investments in 2022
Another BPO trend 2022 will see is an investment in HR. The reason—BPO companies want intelligent hiring and smart retention strategies in place so that they can keep the hassle of high employee turnover at bay.
This move can pay dividends because when you invest in HR, you can expect better work culture for your employees working remotely. For example, HR teams conduct fun activities virtually so that employees stay satisfied with their job and stick with the organization for a longer time.
So Where Do We Go from Here?
Unarguably, things are not easy for the BPO industry, but the best part is the demand for their services has increased more than ever. It means they can increase the pricing to deal with the aforementioned challenges.
High employee turnover rate and low quality of hire are some awful BPO trends, which are likely to continue till the end of 2022. But it doesn’t mean that BPO company owners should lose heart because they can find new strategies to turn the tide in their favor.
In case you are looking for nimble BPO agents or hiring for your HR department, visit Qjobs to end your search.