BPO industry charts new course in social innovation: OIR 2024
MANILA, PHILIPPINES — The business process outsourcing (BPO) industry is undergoing a significant transformation in its approach to social responsibility, as revealed in the Outsourcing Impact Review (OIR) 2024.
The report, published by Outsource Accelerator, envisions a future where BPO companies integrate social responsibility into their core strategies, leveraging technology and collaboration to address global challenges.
Education and skills development take priority
One of the key trends identified in the OIR 2024 is the BPO industry’s growing focus on workforce development. Companies are expected to form stronger partnerships with educational institutions to align curricula with industry needs, bridging skill gaps in emerging markets.
Investments in digital literacy programs and lifelong learning initiatives will ensure that workers remain competitive in an increasingly tech-driven landscape.
Sustainability at the core of future strategies
Environmental sustainability is set to become a central theme in the BPO sector’s corporate social responsibility (CSR) initiatives.
Companies are predicted to adopt green technologies, implement sustainable practices, and report on environmental metrics to align with global sustainability goals.
These efforts will position outsourcing firms as leaders in environmentally responsible business practices.
Technology as a catalyst for social impact
Advanced technologies like artificial intelligence (AI), automation, and data analytics will play a pivotal role in scaling social impact initiatives.
These tools can help BPOs address complex societal issues, enhance CSR efforts, and expand their reach globally.
Digital platforms are also expected to facilitate greater collaboration among NGOs, government agencies, and industry players.
Cross-sector collaboration: A key driver
The future of socially responsible outsourcing will rely heavily on cross-sector partnerships. BPOs are anticipated to work closely with non-governmental organizations (NGOs), government agencies, and other industries to amplify the impact of their initiatives.
Global-local partnerships will combine international resources with local expertise, fostering inclusive and sustainable solutions.
More key insights from the OIR 2024
The Outsourcing Impact Review (OIR) 2024 is an annual report that highlights innovation and social responsibility in the outsourcing industry. Now in its second year, the OIR celebrates how outsourcing companies contribute to community building, education, diversity, health, and environmental sustainability.
The 2024 edition reveals several impactful trends, including:
- Volunteerism Growth: Participating companies logged 82,808 volunteer hours, a 73.3% increase from 2023.
- Community Reach: CSR initiatives benefited 718,267 individuals globally.
- Small Business Leadership: Smaller firms (up to 5,000 seats) accounted for 94.7% of submissions, reflecting their growing role in driving social impact.
- Focus on Education: Education initiatives comprised 42.1% of projects, surpassing other categories like community building and diversity efforts.
Notably, Infosys BPM’s Project Genesis was named the Outsourcing Impact Champion for its transformative educational program that bridges the digital divide and equips underprivileged youth with essential skills.
These findings underscore the industry’s commitment to aligning business success with societal progress while contributing meaningfully to global sustainability goals.
As BPOs continue integrating social responsibility into their operations, they are not only reshaping their industry but also contributing meaningfully to global sustainable development goals.
