Workforce automation to fuel BPO growth
The BPO industry is set for an average growth rate of 10.08% resulting in market volume of US$7.41bn by 2027. The industry rapidly and effectively adopted a WFH work model in response to the pandemic, and now has the option of using a hybrid mode, even though it adds operative complexity. The labor arbitrage that the industry leveraged continues to erode every year with increasing wage costs. As the country marches towards being a developed economy, high inflation is fueling increased functioning costs. The expected top-line revenue growth thus shall not necessarily translate into a comparable bottom-line unless it is well managed.