Category: In The News

5 Tips for Surviving Outsourcing Inflation | In the News

Outsourcing’s business value has long centered on labor arbitrage. While outsourcing partnerships have become more strategic, getting costs down remains a significant draw of the sourcing model. But outsourcing costs have been driving higher for months. A chief factor in this is an unprecedented talent shortage.

“It’s hard to get people, and it’s hard to retain them,” says Amy Fong, Partner in Everest Group’s Sourcing and Vendor Management practice.

Read more in CIO

 

How Insurers Can Retain Skilled IT Talent with Workload Automation and Orchestration | In the News

Insurance companies faced a growing labor shortage before the pandemic, but now the challenge of hiring and retaining skilled workers is even more significant.

Filling these roles is increasingly difficult. According to Everest Group, nearly a quarter of the tech role vacancies in insurance went unfilled in 2021. Adding fuel to the fire, recent data shows younger generations are less attracted to the insurance industry. According to Ronak Doshi, Vice President at Everest Group, only 4 percent of millennials are interested in working in insurance technology roles because they perceive the industry as slow to adopt innovative technologies.

Read more in Carrier Management

Who’s Afraid of the 3G Phaseout? | In the News

One issue with the 3G phaseout for any kind of electronic monitoring devices, whether medical alert devices, home security systems or anything with its own hardware, is that they may not be a direct consumer of 3G through a carrier, just using the network, said Titus M, Senior Analyst at Everest Group.

Read more in Digital Insurance

CCAP Optimistic of IT-BPM Job, Revenue Growth | In the News

The Contact Center Association of the Philippines (CCAP) expressed optimism about the potential of the information technology and business process management (IT-BPM) sector to create more jobs and revenue in the next six years, saying government support is vital in achieving this.

CCAP cited data from global research firm Everest Group that showed the local IT-BPM industry’s headcount grew by up to 10 percent last year to over 120,000 jobs —its strongest since 2016.

Read more in Philstar

 

Over 1M New IT-BPM Jobs Projected in Next 6 Years | In the News

The Contact Center Association of the Philippines (CCAP) is calling for continued government support to ensure the attainment of the industry growth targets.

Based on data from global research firm Everest Group, the local IT-BPM industry’s headcount grew in 2021 by up to 10 percent or over 120,000 jobs year-on-year—its strongest since 2016.

Read more in Sunstar

BPO Industry Expects to Offer Additional 1.1M Jobs until 2028 | In the News

The information technology and business process management industry is aiming for a 10-percent annual growth in export revenue and 8-percent increase in direct hiring that may result in additional 1.1 million jobs until 2028, a group said Monday.

Data from global research firm Everest Group showed that the local IT-BPM industry’s headcount grew by 10 percent in 2021 or over 120,000 jobs from a year ago—its strongest since 2016. The industry’s labor force also managed to grow 5 percent in 2020 despite the pandemic.

Read more in Manilla Standard

Call Center Industry Urges Gov’t to Improve Ease of Doing Business | In the News

The government needs to improve the ease of doing business to allow the business process outsourcing industry to hit its export revenue and job generation targets, the Contact Center Association of the Philippines (CCAP) said.

The CCAP said the industry’s headcount rose in 2021 by up to 10%, or over 120,000 jobs. It was citing data from global research firm Everest Group.

Read more in Business World

 

Indian IT Firms Cut Staff Bonuses as US, European Clients Tighten Budgets | In the News

India’s top IT services firms are freezing or cutting staff bonuses, worried that tightening budgets at US and European clients who are bracing for a recession will sharply hit their own profits after a pandemic-led boom.

“There’s growing conviction in businesses that we need to prepare for a (global) recession,” said Peter Bendor-Samuel, CEO of Everest Group. “The first thing they do is try to eliminate discretionary spending. It is early, but starting to happen.”

Read more in Reuters

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