How BPO industry impacting Philippines economy

BPO sector lifts office rents in Manila – JLL

Staff attrition rates in the Philippines up in 2015

BPO receipts to account for 17% of Philippine GDP this year

Teleperformance posts USD221m net profit for 2015

BPO sector lifts office rents in Manila – JLL

Premier BPO PHProperty consultancy firm JLL has said in its latest report that growth in the offshoring and outsourcing sector in the Philippines together with new completions lifted office rents in Manila by 0.9% in Q4 2015. However, JLL stressed that despite the increase in office rental, overall rents in the prime Makati central business district remain highly competitive compared with other cities in Asia-Pacific. JLL said office rentals in most Southeast Asian cities declined in Q4 2015 due to the economic slowdown across the ASEAN region. Rents declined more severely in Kuala Lumpur and Jakarta in Q4 than in the previous quarter. Bangkok and Manila were among the few cities in the region to post increases in office rentals in the last quarter of last year, JLL said.

Staff attrition rates in the Philippines up in 201S

Premier BPO studyA survey conducted by global advisory firm Willis Towers Watson showed that the attrition rate in the country continued last year, growing by 3 percentage points to 15% from 2014. The 2015 Total Rewards Survey said turnover rates in Philippine companies continued to rise last year as more employees sought better pay opportunities and flexible work arrangements. The survey, which involved 300 companies, said better pay was the most common reason why employees in the Philippine left a company. This was followed by relocation or family migration, relationship with supervisor, health-related reasons and flexible work arrangement or work-life balance. The survey also noted the perception that the BPO and IT sectors dominated employee pay in the Philippines. Willis Towers Watson said the banking and financial services industry paid the highest.

BPO receipts to account for 17% of Philippine GDP this year

Premier BPO in PHThe business process outsourcing (BPO) sector in the Philippines is expected to generate receipts at the same level with remittances from overseas Filipino workers. According to a report by the Asianomics Group Ltd, the BPO sector is expected to contribute 17% of the country’s gross domestic product this year, bringing in USD25bn inflows. The success story of the country’s BPO industry was mentioned in the Hong Kong-based research company’s report, titled ‘Philippines: Cruise Control’. According to Asianomics, the Philippines remains in an economic upswing that can spur further growth on the back of sustained investor confidence. Asianomics chief economist Jim Walker said that the Philippines can grow by as much as 6.5-7% in 2016.

Teleperformance posts USD221m net profit for 2015

Premier BPO Inc. PH studies of BPO industryGlobal outsourcing giant Teleperformance announced on Wednesday that its net profit was up EUR200m (USD221m) for the fiscal year 2015. The figure was higher than the EUR150m (USD165m) net profit for FY 2015, the company said. Its revenue was also up last year to EUR3.4bn versus EUR2.8bn a year ago. The board of directors of Teleperformance also announced the company’s significant strengthening of its global market leadership. They said that Teleperformance now has a unique global presence in 65 countries, including the Philippines, and continues to expand its worldwide footprint with the addition of 12,000 new workstations in the US and Asia. Last year, Teleperformance opened eight new centers in the English-speaking markets & Asia-Pacific and located in the United States, Canada, the United Kingdom, Indonesia, China, the Philippines and Guyana.

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