Patience level of youngsters The average range of age in BPO sector is early twenties.
Ranked among the top 25 destinations for outsourcing, Sri Lanka is preferred by many international partners as their outsource destination.
The growing IT-BPO industry in Colombo offers a unique advantage for Small and Medium Enterprises SME to enjoy premium access to a high quality talent pool, which is becoming increasingly challenging in large established destinations such as India and China.
The environment is also highly conducive for establishing high-in-demand niche competency centers out of competition for even larger global services companies. The national level competency development programs focus on building Sri Lanka as a Center of Excellence COE for key focus domain areas.
Recognizing the potential of the industry, the government has taken number of positive steps by providing fiscal and other incentives and concessions to fast track the development of the sector.
Workforce Advantage Colombo offers a rapidly growing niche workforce which is low cost, highly adaptable, English speaking and loyal.
Colombo is comparatively cost competitive and has a lower upward wage pressure than many established global sourcing destinations. Sri Lanka has an established norm of early entry of individuals to the workforce soon after college. The well developed work-study approach allows people to work and study at the same time.
This result in dramatically low entry level wages compared to the traditional practices of hiring graduates. Sri Lankans are noticeably friendly, highly productive, creative, and adapt very fast to different cultures and environments.
This results in easy integration to operating units of other counties. The primary business language in Colombo is English with a high level of fluency. Graduate and Postgraduate education is provided by the 15 state universities and numerous private universities and educational institutions, many of which award degrees from international universities.
With many incentives by the government, Sri Lanka is attracting leading foreign universities and many private investments in education. Sri Lanka is also becoming an education hub for foreign students from neighboring countries.
With the national focus on niche competencies, Sri Lanka is aiming to become a center of excellence for several key sectors. Many global companies have been operating in Sri Lanka for decades. Sri Lankan government has identified the IT-BPO sector as a priority growth sector for economic development and provides many incentives to promote investments.
Tax holidays range from years. Government also provides special assistance on real estate acquisition based on investment and employment generation potential. Government also provides substantial cash grants for companies in the IT-BPO sector to support the business development and encourage investments.
Sri Lanka has an independent judiciary and follows the British Commercial Law principles and practices in its legal system. A Data Protection Code of Practice is also under preparation. Tier 1 Infrastructure with a Tier 2 Cost Structure Sri Lanka has eight telecom operators and is connected to the world with three international submarine cables providing ample redundancy.
Broadband, Leased-line and Satellite connectivity are widely available. Sri Lanka is among the first South Asian counties to establish a 3G network. The Telecom Regulatory Commission also provides special access facilities to IT and BPO companies enabling easy import of equipment and commissioning of international connectively.
Colombo has a well established road network with a quality supply of power, modern office facilities and a well developed set of support infrastructure services. There are over flights per week to most cities in India. Most Indian cities are less than 2 hours away from Sri Lanka.
The modern international airport welcomes more than 20 international airlines with direct flights to many worldwide destinations weekly.Sri Lanka’s IT/ BPO and IT/BPO & Shared Services Sector 25 th October 2 Overview About the Industry Where is Sri Lanka today in the World outsourcing map?
State of the Sri Lankan IT/ BPO industry Future focus Positioning Sri Lanka low attrition • Attrition rates . Sep 17, (LBO) – Sri Lanka’s IT BPO sector, a thriving industry which targets a five billion dollar export revenue in , is benefiting from the current rupee depreciation in the island.
Low attrition rate of % compared to other offshore destinations.
Government support: BOI Tax breaks, Industry specific Telecom solutions and international BPO infrastructure and services.
KPO/BPO industry is collectively governed by SLASSCOM (Sri Lanka Association of Software and Service Companies). Bpo industry – sri lanka 1.
As defined by investopedia, a BPO or a Business Process Outsourcing is “a method of subcontracting various business-related operations to a third party” The outsourcing concept was initially applied to the manufacturing industry.
10 Common Challenges of BPO Industry. Outsourcing involves contracting out your business processes to some third-party either at a domestic or offshore level.
The global BPO industry was estimated to be about 83 billion dollars in and ever since then it has always been on the rise. The BPO industry is one of the fastest growing sectors.
The Attrition Rate For The Bpo Industry. This project is based on one of the major issues faced by the HR managers in the BPO industry. In this project we had done a detailed study on “Attrition rate” of the BPO industry in Sri Lanka.