Change is coming, as it always does. But what will the future hold for business? Why don't we take a peek into the rest of 2023? We know that things like Artificial Intelligence (AI), Automation, will strongly influence Outsourcing Trends. But how will these changes affect you and your business operating model?
If we've learned anything from 2022, we know that the future is unpredictable and will vary by business sector and even individual enterprises. If you can ever term a broad statement as “specific,” here's a look at some possibilities.
Onshore costs are still rising.
Higher wages drive rising costs. According to Zip Recruiter, the average base wage for a U.S. call center worker today is $17.00 per hour, a 40% increase since pre-pandemic levels.
This, in turn, drives up overall Outsourcing costs. This trend is expected to continue in 2023.
Work-at-home wages for US BPOs continue to rival in-person pay.
Staffing is still an obstacle.
Outsourcing in its various forms has been around for a long, long time. As technology advanced, so did the ability to have employees work in a business offsite. The logical extension was finding Very Offsite employees, as in Offshore. Today it's a significant industry with clients in nearly all business sectors, and its trends and expectations impact those sectors that depend on BPO services. So what's the outlook for this new year?
If you detect a trend in this view of the future, everything we're experiencing now will likely continue and expand in scope. The real question is, how will it affect you and your business?
We Need To Change It Up. But How?
In large part, the coming changes in business are dependent on climate. Not just the earth's climate (which does have a significant impact) but the environment for business as reflected by the consumer and government.
The broad government assistance that came about during the catastrophic Pandemic and its aftermath is winding down. If it's too soon to reduce, the power of the government's involvement in recovery is a question that will quickly be answered. Still, the fact remains that 2023 will be yet another new phase in our changing business universe.
How a business responds to these challenges is also an open question. Growth has returned to the American economy, but for how long? Wages have continued to rise, but for how long? The effects of the war in Europe seem to be factored in, but what if the scope of that conflict broadens? And how will the massive amounts of money spent on rearming the Ukrainian armed forces affect western economies?
So, many questions remain. And let's face it, we have been taught that predictions are sometimes laughably wrong. There is just too much uncertainty in today's world.
To really prepare, we need to heed an old tradition: “plan for the best, prepare for the worst.” In effect, that's what engaging a Business Process Outsourcing partner is all about. It doesn't eliminate all uncertainty, but it removes some close-to-home risks.
If you need some objective advice based on Business Process Outsourcing, a reliable source is Rely Services and their team of specialists. They understand that no two enterprises are the same, and a unique solution to approaching peril demands analyzing both the marketplace and the client.