In the early days, people used to arrive at a career in BPO as if by accident. It’s now a more clearly defined profession in itself. Recent analysis by HfS Research (commissioned in partnership with Capgemini BPO), which surveyed BPO staff about their perceptions of BPO as a profession had generally positive findings, with the majority of experienced professionals seeing BPO as an enabler of innovation and business change. Yet there is work to be done particularly among newer entrants to the industry, with only one in eight seeing it as a long-term career option. That’s the challenge facing BPO leaders now if we are to continue the reputational growth of recent years.
Priming the Economic Engine: How Social Media is Driving Growth for Small and...LinkedIn
8 out of 10 small and medium businesses (SMBs) use social media, and 68% of them are using it to inform financial decisions — presenting a golden opportunity for finance marketers to deliver relevant, useful content. Find out how in this research study from LinkedIn and TNS.
Download the full whitepaper at http://lnkd.in/SMB-research
2011 Social Recruiting Trends & Strategies by ChachinkoBullhorn Reach
For the past few years, the economy has significantly impacted hiring and recruiting trends across the
nation. As higher numbers of anxious job seekers competed for fewer jobs, HR and talent acquisition staff within companies were also reduced. “They just might not come out to campus to recruit for them. They might post them online and [use] less expensive recruiting methods,” said Andrea Koncz, employment information manager at NACE.i
However, times are changing—for the better. According to the seasonally
adjusted results of the latest Manpower Employment Outlook Survey, conducted
quarterly by Manpower Inc., “Among U.S. employers surveyed, 14% expect to
add to their workforces, and 10% expect a decline in their payrolls during
Quarter 1 2011 … When seasonal variations are removed from the data, the
Outlook is +9%, the most promising hiring expectations reported since Quarter
4 2008. Survey results suggest that employers expect a slight increase in the hir
ing pace during the January – March 2011 period compared to the last three
months of 2010.”
As the connected vehicle landscape continues to mature, automakers need to adapt. Recognizing this opportunity requires insights that extend beyond traditional automotive boundaries. Booz Allen Hamilton Commercial Solutions guides the automotive industry to act decisively and think forward, from product cybersecurity to data analytics.
Priming the Economic Engine: How Social Media is Driving Growth for Small and...LinkedIn
8 out of 10 small and medium businesses (SMBs) use social media, and 68% of them are using it to inform financial decisions — presenting a golden opportunity for finance marketers to deliver relevant, useful content. Find out how in this research study from LinkedIn and TNS.
Download the full whitepaper at http://lnkd.in/SMB-research
2011 Social Recruiting Trends & Strategies by ChachinkoBullhorn Reach
For the past few years, the economy has significantly impacted hiring and recruiting trends across the
nation. As higher numbers of anxious job seekers competed for fewer jobs, HR and talent acquisition staff within companies were also reduced. “They just might not come out to campus to recruit for them. They might post them online and [use] less expensive recruiting methods,” said Andrea Koncz, employment information manager at NACE.i
However, times are changing—for the better. According to the seasonally
adjusted results of the latest Manpower Employment Outlook Survey, conducted
quarterly by Manpower Inc., “Among U.S. employers surveyed, 14% expect to
add to their workforces, and 10% expect a decline in their payrolls during
Quarter 1 2011 … When seasonal variations are removed from the data, the
Outlook is +9%, the most promising hiring expectations reported since Quarter
4 2008. Survey results suggest that employers expect a slight increase in the hir
ing pace during the January – March 2011 period compared to the last three
months of 2010.”
As the connected vehicle landscape continues to mature, automakers need to adapt. Recognizing this opportunity requires insights that extend beyond traditional automotive boundaries. Booz Allen Hamilton Commercial Solutions guides the automotive industry to act decisively and think forward, from product cybersecurity to data analytics.
Creative Tech Recruitment: How to Compete Against Tech Giants for Top TalentWilsonHCG
WilsonHCG and Glassdoor team up in this webinar to discuss the challenges of technology and IT recruitment and creative talent acquisition strategies that companies can implement to attract passive talent. Scan through to learn how to utilize your employment brand to build meaningful connections with technology candidates, craft a proactive strategy to build your talent pool for the future, now and how to stand out as an organization.
UK marketing executives are keen to explore the possibilities of marketing in context, but encouraging customers to share contextual information is the key challenge.
Live Webinar: Market to Who Matters - How to Get Started with Advertising on ...LinkedIn
Join us for our live demo of our advertising solutions: LinkedIn Sponsored Content and LinkedIn Text Ads. These products allow you to connect with the world's largest audience of active, influential professionals. In this webinar you will learn how:
- Sponsored Content enables you to publish relevant content straight to the feed of any member across desktop and mobile. With native ads in the world’s professional feed, your content marketing captures the attention of highly engaged people – and drives qualified traffic right to you.
- Text Ads are easy to create and great for budget-conscious campaigns—set your own budget and only pay for ads that work on our pay-per-click platform.
Our annual content marketing research with new insights useful for 2019 budget planning and benchmarking. This new report focuses on business-to-business (B2B) marketers and their content marketing benchmarks, budgets, and trends.
Engage & Listen: Activating Your Brand Across Digital TouchpointsOne North
Collaborative. Responsive. Client-focused. Innovative. These are some of the most commonly used go-to-market messages for B2B organizations. Nearly identical value propositions like these create a dangerous "sea of sameness" for this industry.
As marketers, we must dig deeper. We need to find a point of view that is authentic to the character of our organization and unique to our competitive set and vertical. Without this, it's impossible to separate from the pack and present your clients and customers with a brand experience that is more than just your snappy color palette or slick logo.
John Simpson (CEO & Founder) and Ryan Schulz (Director, Brand) discuss how to differentiate your brand, avoid the sea of sameness and activate Brand across all of your digital touchpoints.
The "Virtual Coaching Institute"-Pitch during Hack for Health weekend! (May 0...Cain Ransbottyn
The second edition of #HackforHealth in MIC office @ Kortrijk was big fun! After 48 hours of hacking we had to pitch our idea: ViCoins, the virtual health currency! Including a complete working prototype platform connecting to many many many API's!
The live pitch can be viewed @ youtube: https://www.youtube.com/watch?v=_XNBh-OR2A0
The Hottest B2B Marketing Trends of 2017DemandWave
Get ready to have your best marketing year, yet! Check out our webinar and discover the hottest B2B marketing trends for driving more sales-qualified leads in 2017.
What Is the Future of Data Sharing? - Consumer Mindsets and the Power of BrandsDavid Rogers
READ an OVERVIEW: https://www.linkedin.com/pulse/new-research-what-future-data-sharing-david-rogers
This research study was produced by Columbia Business School’s Center on Global Brand Leadership, in conjunction with the Aimia Institute.
As data becomes an increasingly important asset for any business, access to accurate data from customers—about their interests, behaviors, and identity—is vital to successful, durable relationships. Our research explores how businesses can make data sharing a “win-win” for both companies and the customers they serve.
Co-authors David Rogers and Matthew Quint surveyed attitudes towards sharing data with business in six different industries, talking with 8,000 consumers from the US, UK, Canada, France, and India.
Our surprising findings show that even consumers who are actively protective of their data are often happy to share it for relevant offers and value. The study revealed four distinct “mindsets” that consumers have towards sharing data. And we uncovered clear opportunities for business to use data to add more value to their relationships with consumers.
The what, why and how of Social Media ROI: Business definitions, methodologies and situational narrative. This presentation's purpose is to clarify what ROI is and isn't within the context of Social Media and offers a basic explanation of how to tie Social Media activities to real ROI.
6 Ways to Grow Your Business Through BloggingZontee Hou
See this webinar at: http://bit.ly/SCOREblog
Did you know that a blog can help increase your SEO, help you make connections with others within your industry, and act as a vehicle for customer satisfaction? Learn how a well-planned blog can help grow your business. Plus discover tools to help you plan your content calendar, optimize headlines, and promote your posts.
Exclusive Webinar: LinkedIn for Lead Generation: Build Your ArmyLinkedIn
Do you use LinkedIn for business? Are you wondering how you can use LinkedIn to generate quality leads?
Research has shown that LinkedIn is the only platform the majority of B2B marketers consider to be effective and that 77 percent of B2B marketers say they have acquired a customer through LinkedIn.
Jason Miller, Sr. Content Marketing Manager at LinkedIn, goes back to his roots of using social media for lead generation and shows you how to best leverage LinkedIn for building an army of high quality leads. Turn your social media strategy up to eleven.
In this webinar you will learn:
1. The importance of using social media for driving leads.
2. How to drive quality leads using LinkedIn Company Pages, Sponsored Updates, LinkedIn Groups and SlideShare.
3. The types of content that work best for driving leads on LinkedIn.
4. Best practices for messaging, visuals and targeting for your campaigns.
5. How to track and optimize your LinkedIn campaigns for maximum effectiveness.
View the presentation here:
http://youtu.be/KZZkryzdy7E
Business Development Frameworks & Tips for AgenciesLeslie Bradshaw
Seasoned agency leaders Barbara Yolles and Leslie Bradshaw share a few of their successful frameworks to grow an agency through strategic business development. Originally taught as a two-day course at the Society of Digital Agencies "Academy" in October 2015. Some slides redacted.
Content marketing careers are constantly evolving, but one thing is certain: The power of LinkedIn for personal branding and career advancement is here to stay. Of course, because so many people rely on LinkedIn for professional networking these days, it’s essential to create a profile that will help you stand out and get noticed by the people who make hiring decisions in your industry. It’s not an easy task, but it can be
done – with the help of some pro-level tips for strengthening your LinkedIn presence and gaining an edge over the competition. If your “Who’s Viewed Your Profile” chart is flatlining week after week, the advice below will help breathe new life into your profile, improve your visibility in search results, generate more views, and impress your audience.
The application of open digital badging at the OU UK and its future in heDr Patrina Law
A whistlestop tour through the provision of free learning by the OU (UK), its application of digital badges to informal learners and students, and the potential of digital badges for HE transcripts and blockchain.
Creative Tech Recruitment: How to Compete Against Tech Giants for Top TalentWilsonHCG
WilsonHCG and Glassdoor team up in this webinar to discuss the challenges of technology and IT recruitment and creative talent acquisition strategies that companies can implement to attract passive talent. Scan through to learn how to utilize your employment brand to build meaningful connections with technology candidates, craft a proactive strategy to build your talent pool for the future, now and how to stand out as an organization.
UK marketing executives are keen to explore the possibilities of marketing in context, but encouraging customers to share contextual information is the key challenge.
Live Webinar: Market to Who Matters - How to Get Started with Advertising on ...LinkedIn
Join us for our live demo of our advertising solutions: LinkedIn Sponsored Content and LinkedIn Text Ads. These products allow you to connect with the world's largest audience of active, influential professionals. In this webinar you will learn how:
- Sponsored Content enables you to publish relevant content straight to the feed of any member across desktop and mobile. With native ads in the world’s professional feed, your content marketing captures the attention of highly engaged people – and drives qualified traffic right to you.
- Text Ads are easy to create and great for budget-conscious campaigns—set your own budget and only pay for ads that work on our pay-per-click platform.
Our annual content marketing research with new insights useful for 2019 budget planning and benchmarking. This new report focuses on business-to-business (B2B) marketers and their content marketing benchmarks, budgets, and trends.
Engage & Listen: Activating Your Brand Across Digital TouchpointsOne North
Collaborative. Responsive. Client-focused. Innovative. These are some of the most commonly used go-to-market messages for B2B organizations. Nearly identical value propositions like these create a dangerous "sea of sameness" for this industry.
As marketers, we must dig deeper. We need to find a point of view that is authentic to the character of our organization and unique to our competitive set and vertical. Without this, it's impossible to separate from the pack and present your clients and customers with a brand experience that is more than just your snappy color palette or slick logo.
John Simpson (CEO & Founder) and Ryan Schulz (Director, Brand) discuss how to differentiate your brand, avoid the sea of sameness and activate Brand across all of your digital touchpoints.
The "Virtual Coaching Institute"-Pitch during Hack for Health weekend! (May 0...Cain Ransbottyn
The second edition of #HackforHealth in MIC office @ Kortrijk was big fun! After 48 hours of hacking we had to pitch our idea: ViCoins, the virtual health currency! Including a complete working prototype platform connecting to many many many API's!
The live pitch can be viewed @ youtube: https://www.youtube.com/watch?v=_XNBh-OR2A0
The Hottest B2B Marketing Trends of 2017DemandWave
Get ready to have your best marketing year, yet! Check out our webinar and discover the hottest B2B marketing trends for driving more sales-qualified leads in 2017.
What Is the Future of Data Sharing? - Consumer Mindsets and the Power of BrandsDavid Rogers
READ an OVERVIEW: https://www.linkedin.com/pulse/new-research-what-future-data-sharing-david-rogers
This research study was produced by Columbia Business School’s Center on Global Brand Leadership, in conjunction with the Aimia Institute.
As data becomes an increasingly important asset for any business, access to accurate data from customers—about their interests, behaviors, and identity—is vital to successful, durable relationships. Our research explores how businesses can make data sharing a “win-win” for both companies and the customers they serve.
Co-authors David Rogers and Matthew Quint surveyed attitudes towards sharing data with business in six different industries, talking with 8,000 consumers from the US, UK, Canada, France, and India.
Our surprising findings show that even consumers who are actively protective of their data are often happy to share it for relevant offers and value. The study revealed four distinct “mindsets” that consumers have towards sharing data. And we uncovered clear opportunities for business to use data to add more value to their relationships with consumers.
The what, why and how of Social Media ROI: Business definitions, methodologies and situational narrative. This presentation's purpose is to clarify what ROI is and isn't within the context of Social Media and offers a basic explanation of how to tie Social Media activities to real ROI.
6 Ways to Grow Your Business Through BloggingZontee Hou
See this webinar at: http://bit.ly/SCOREblog
Did you know that a blog can help increase your SEO, help you make connections with others within your industry, and act as a vehicle for customer satisfaction? Learn how a well-planned blog can help grow your business. Plus discover tools to help you plan your content calendar, optimize headlines, and promote your posts.
Exclusive Webinar: LinkedIn for Lead Generation: Build Your ArmyLinkedIn
Do you use LinkedIn for business? Are you wondering how you can use LinkedIn to generate quality leads?
Research has shown that LinkedIn is the only platform the majority of B2B marketers consider to be effective and that 77 percent of B2B marketers say they have acquired a customer through LinkedIn.
Jason Miller, Sr. Content Marketing Manager at LinkedIn, goes back to his roots of using social media for lead generation and shows you how to best leverage LinkedIn for building an army of high quality leads. Turn your social media strategy up to eleven.
In this webinar you will learn:
1. The importance of using social media for driving leads.
2. How to drive quality leads using LinkedIn Company Pages, Sponsored Updates, LinkedIn Groups and SlideShare.
3. The types of content that work best for driving leads on LinkedIn.
4. Best practices for messaging, visuals and targeting for your campaigns.
5. How to track and optimize your LinkedIn campaigns for maximum effectiveness.
View the presentation here:
http://youtu.be/KZZkryzdy7E
Business Development Frameworks & Tips for AgenciesLeslie Bradshaw
Seasoned agency leaders Barbara Yolles and Leslie Bradshaw share a few of their successful frameworks to grow an agency through strategic business development. Originally taught as a two-day course at the Society of Digital Agencies "Academy" in October 2015. Some slides redacted.
Content marketing careers are constantly evolving, but one thing is certain: The power of LinkedIn for personal branding and career advancement is here to stay. Of course, because so many people rely on LinkedIn for professional networking these days, it’s essential to create a profile that will help you stand out and get noticed by the people who make hiring decisions in your industry. It’s not an easy task, but it can be
done – with the help of some pro-level tips for strengthening your LinkedIn presence and gaining an edge over the competition. If your “Who’s Viewed Your Profile” chart is flatlining week after week, the advice below will help breathe new life into your profile, improve your visibility in search results, generate more views, and impress your audience.
The application of open digital badging at the OU UK and its future in heDr Patrina Law
A whistlestop tour through the provision of free learning by the OU (UK), its application of digital badges to informal learners and students, and the potential of digital badges for HE transcripts and blockchain.
Digitalisering og API-revolusjonen gjør at stadig flere snakker om API. Men når stadig flere snakker om en ting øker sannsynligheten for misforståelser. Så når du snakker om API, snakker du om det fra en forretnings-dimensjon, arkitektur-dimensjon eller teknologi-dimensjon? Og hva er egentlig forskjellen på disse?
Professor i juridik med särskild inriktning på offentlig upphandling vid University of East Anglia Law School. Kuznik är en av de främsta experterna på offentlig upphandling inom EU och har bland annat varit rådgivare åt OECD i frågan.
In grammars we trust: LeadMine, a knowledge driven solutionNextMove Software
We present a system employing large grammars and dictionaries to recognize a broad range of chemical entities. The system utilizes these re-sources to identify chemical entities without an explicit tokenization step. To al-low recognition of terms slightly outside the coverage of these resources we employ spelling correction, entity extension, and merging of adjacent entities. Recall is enhanced by the use of abbreviation detection and precision is en-hanced by the removal of abbreviations of non-entities. With the use of training data to produce further dictionaries of terms to recognize/ignore our system achieved 86.2% precision and 85.0% recall on an unused development set.
“Using the cloud to automatically personalize interfaces and materials for those facing difficulties due to disability, literacy or aging: the future of social clouds and inclusive infrastructures”
Vor allem dank seinem robusten Arbeitsmarkt und seiner Vorbildrolle im Umweltschutz liegt Deutschland in puncto Zukunftsfähigkeit auf einem Spitzenplatz. Doch zunehmende Verteilungskonflikte und Schwächen bei der politischen Steuerungsfähigkeit trüben die Aussichten. Dies ergeben die Sustainable Governance Indicators (SGI), die die Regierungsführung in den OECD- und EU-Staaten bewerten.
Mehr zur Studie finden Sie hier: http://www.bertelsmann-stiftung.de/de/themen/aktuelle-meldungen/2016/august/sustainable-governance-indicators-2016/
Applying testing mindset to software developmentAndrii Dzynia
Software Development is a creative activity that requires focus. During coding session you as a programmer tends to make so many decision that sometimes force you to neglect 'unimportant details' that might sounds like specific use cases, unclear statements or somethings that won't gonna happen. In most cases the system even so complex that is not that easy to step out and see the whole picture, even from user's point of view. Historically software developers used to trust other people called testers to verify those 'details' from user's perspective before deploying into production. In order to have proper alignment inside the team dedicated 'QA step' added to the process. That obvious solution have some quick-wins with outcome of found bugs before releasing the software. But there are some tradeoffs, such as: slower delivery cycle, extra test documentation and GUI automated tests that are not that easy to maintain. During my talk I would like to share some insight and lessons we learned @ Spotify that helps us improving team's development productivity without losing quality of the product. Hopefully that will help your team as well or at least show one of the directions you might want to follow.
Spotify Engineering Culture:
https://labs.spotify.com/2014/03/27/spotify-engineering-culture-part-1/
https://labs.spotify.com/2014/09/20/spotify-engineering-culture-part-2/
Emerging Trends in Recruitment Process OutsourcingIJMTST Journal
With the changing times the roles of HR are also changing and became more diversified. The competitive pressures wrought by the new economy call for a change in the role of the “Human Resources” function. In today’s business environment HR must become a leader in identifying new business opportunities, defining business strategy and corporate priorities, and preparing the organization for continuous and often disruptive changes. Similar is the case with the profile of recruitment – having limited perspective changes and gets a new face having many changes and broader perspective. Hiring good people is one of the most significant contributions of the HR function. To find the right person who would fit the job specification is increasingly becoming difficult. Thus, many specialized firms that totally deal with the hiring process have come up as a boon for the organizations, giving birth to the “Recruitment Process Outsourcing” (RPO). The objective of the RPO’s is to provide effective recruitment, reducing the hiring costs significantly to generate greater results.
BPI group Executive Employment Trends Q1 2012BPI group
What is the average length of an executive job search? How does an executive’s base salary level impact the length of the job search?
Download the Executive Employment Trends Report for the latest insights into today’s executive job market.
BPI group has established this Executive Employment Trends Report to offer greater visibility into the current executive job market. We are committed to quality and results in our career transition programs, and believe that keeping a careful eye on trends in the market is an important way to ensure we are meeting the needs of our executive transition clients.
This Executive Employment Trends Report includes analysis of the average length of the executive job search, as well as how the job search is impacted by an executive’s:
Base Salary Level
Education Level
Gender
Age
COVID-19 heightened chronic challenges within the global healthcare industry. It became a catalyst amid fierce competition and tight regulations for health providers and payers to focus on digital health, cybersecurity, patient data transparency, and a variety of customer-centric and operational enhancements. As a result, we found the 2022 trendline pointing to improvements in access and quality of care.
Healthcare challenges such as optimizing the cost of care while simultaneously enabling personalized interventions and consumer-friendly shoppable services are long-standing − but, historically, the industry has been slow to react.
Read our Top Trends 2022 report to examine the lingering ramifications of the pandemic, responses from medical and insurance organizations, and the worldwide impact of ever-changing regulatory standards and mandates.
A combination of factors − the pandemic, catastrophic weather events, evolving policyholder expectations, and insurers’ drive for operational efficiency and future relevance − are sparking P&C industry changes.
In a post-COVID, new-normal environment, the most strategic insurers are building resilient, crisis-proof enterprises poised to take advantage of emerging and future business opportunities. They are leveraging advanced data analytics and novel technologies to assure agility and achieve positive revenue and customer satisfaction outcomes. Competitive advantage will hinge on accelerated digitalization and faster go-to-market. Therefore, win-win partnerships and embedded services with InsurTechs and other ecosystem players are critical.
Read Capgemini’s Top P&C Insurance Trends 2022 for a glimpse at the tactical and strategic initiatives carriers are undertaking to boost customer-centricity, product agility, intelligent processes, and an open ecosystem to ensure profitable growth and future-readiness.
This analysis provides an overview of the top trends in the commercial banking sector as they shift to technology high gear to boost client efficiency and battle a volatile, uncertain, competitive, and evolving landscape.
First, it was retail banking. Now, advanced technology is shifting to – and disrupting − the commercial banking space. Many commercial banks, known for paperwork, red tape, and branch dependency, were unprepared to support clients during their post-COVID-19 ramp-up. But now, the digital pivot to new mindsets, partnerships, and processes is in overdrive.
As commercial banks grapple with competition from FinTechs, BigTechs, and alternative lenders, their inability
to fulfill SME demands and pandemic after-shocks necessitates transformative process changes and a move
to experiential, sustainable, and inclusive banking models. We expect banks to strive to meet the demands
of corporate clients and SMEs by digitally transforming critical workflows and improving client experience.
Additionally, incremental process improvements in the middle and back-office that leverage intelligent
automation will keep the competition at bay because engaged clients are loyal.
Adopting newer methods to mine data and moving to as-a-Service models will prepare commercial banks
to flexibly respond to newcomers and find ways to co-exist through effective collaboration. The time has come for commercial banks to put transformation on the fast track as lending losses in wallet and market share could spill over to other functions!
How incumbents react and respond to 2022 trends could determine their relevancy and resiliency in the years ahead.
The Covid-19 pandemic necessitated the payments industry undergo a facelift, sparked by novel approaches from new-age players, fostered by industry consolidation, and customers’ demand for end-to-end experience. Crossing the threshold, the industry is entering a new era – Payments 4.X, where payments are embedded and invisible, and an enabling function to provide frictionless customer experience. As customers make a permanent shift to next-gen payment methods, Digital IDs are critical for a seamless payment experience. The B2B payments segment is witnessing rapid digitization. BigTechs, PayTechs, and industry newcomers are ready to jump in with newfangled solutions to help underserved small to medium-sized businesses (SMBs).
As incumbents struggle with profits, new-age firms are forging ahead to take the lead in the Payments 4.X era by riding the success of non-card products and services. The new era demands collaboration, platformification, and firms can unleash full market potential only by embracing API-based business models and open ecosystems. Data prowess and enhanced payment processing capabilities are inevitable to thrive ahead. The clock is ticking for banks and traditional payments firms because the competitive advantage is not guaranteed forever. As industry players seek economies of scale, consolidations loom, and non-banks explore new territories to threaten incumbents’ market share. While all these 2022 trends are at play, central bank digital currency (CBDC) is emerging globally and might open a new chapter in the current payments landscape.
As we slowly move out of the pandemic, financial services firms have learned the criticality of virtual engagement to business resilience. Wealth management firms will need capabilities to cater to new-age clients and deliver new-age services. This report aims to understand and analyze the top trends in the Wealth Management industry this year and beyond.
A year ago, our Top Trends in Wealth Management report emphasized how the pandemic sparked disruption and digital transformation and changing investor attitudes around Environmental, Social, and Corporate Governance (ESG) products. As we begin 2022, many of those trends continue to hold as COVID-19’s wide-reaching effects continue to influence the wealth management industry.
As wealth management (WM) firms supercharge their digital transformation journeys, investments in cybersecurity and human-centered design are becoming critical to building superior digital client experience (CX). Another holdover trend − sustainable investing – is gaining mainstream attention and generating increasingly sophisticated client demands. Data and analytics capabilities will become ever more essential for ESG scoring and personalized customer engagement. As large financial services firms refocus on their wealth management business while new digital players make industry strides, competition is becoming historically intense. Not surprisingly, client experience is the new battleground.
This analysis provides an overview of the top trends in the retail banking sector driven by the competition, digital transformation, and innovation led by retail banks exploring novel ways to create and retain value in evolving landscape.
COVID-19 caught banks off guard and shook legacy mindsets to the core. With 20/20 (2020) hindsight, firms are more aware, digitally resilient, and financially stable as they head into 2022. The trials of the past 18 months forced firms to shore up existing business and consider new models and revenue streams.
Customer-centricity remains at the top of most FS agendas and is a 2022 focal point. Banks will focus on achieving operational excellence as diligently as delivering superior CX. In 2022 and beyond, it will be paramount for FIs to explore and invest in new technologies to remain relevant and resilient.
Banking 4.X will arrive in full force in 2022 with platform-supported firms monetizing diverse ecosystem capabilities and aggressively harvesting data to create experiential customer journeys through intelligent and personalized engagements. The new era will compel future-focused banks to finally abandon legacy infrastructure and collaborate with third-party specialists to solidify their best-fit, long-term roles. Increasingly, open platforms will make banks invisible as banking becomes embedded into customer lifestyles. At the same time, banks will shed asset-heavy models and shift to the cloud for greater agility, speed to market, and faster innovation. The shift will act as a precursor to adopting new technologies on the horizon – 5G and Decentralized Finance.
The recent past was filled will extraordinary lessons for financial institutions. Now is the time to act on those learnings and move forward profitably.
While COVID-19 has sparked the demand for life insurance, it has also exposed the operating model vulnerabilities in distribution, servicing, and customer retention. In a post-COVID, new-normal environment, insurers need to enhance their capabilities around advanced data management and focus on seamless and secure data sharing to provide superior CX and hyper-personalized offerings. Accelerated digitalization and faster go-to-market are vital to remaining competitive, and win-win partnerships with ecosystems are critical in the journey.
Read our Top Life Insurance Trends 2022 to explore the tactical and strategic initiatives carriers undertake to acquire competencies around customer centricity, product agility, intelligent processes, and an open ecosystem to ensure profitable growth and future readiness.
Property & Casualty Insurance Top Trends 2021Capgemini
The Property & Casualty insurance landscape is evolving quickly with the changing risk landscape, entry of new players, and changing customer expectations. The ripple effects of COVID-19 on the P&C insurance industry and natural disasters such as forest fires have adversely impacted insurance firm books.
In this scenario, to ensure growth and future-readiness, the most strategic insurers strive to be ‘Inventive Insurers’ – assuming a customer-centric approach, deploying intelligent processes, practicing business resilience and go-to-market agility, and embracing an open ecosystem.
Read our Property & Casualty Insurance Top Trends 2021 report to explore the strategies insurers are adapting to remain competitive amidst the evolving business landscape and how they can explore new ways to enhance their profitability.
A combination of factors such as demographic changes, evolving consumer preferences, and desire to become operationally efficient were already spurring changes in the life insurance industry. Enter 2020 – the COVID-19 pandemic is having a significant impact on the industry.
At the peak of disruption, the focus was on ensuring business continuity, but new initiatives are cropping up to tackle the challenges as the industry is adapting to the new normal.
Furthermore, COVID-19 has acted as a catalyst, pushing life insurers to prioritize their efforts on improving customer centricity, developing go-to-market agility, making processes intelligent, building business resilience, and embracing the open ecosystem.
Read our Life Insurance Top Trends 2021 report to explore the strategies insurers are adopting to manage the changing market dynamics.
The uncertainty of 2020 is setting the global tone for the immediate future in the financial services industry. So it is no surprise banks are laser-focused on business resilience, emphasizing both financial and operational risks. The need to adapt quickly to new normal conditions through virtual customer engagement is clear.
Customer centricity continues to drive commercial banks’ solution designs. And, the pandemic compelled products that deliver immediate client value ‒ quick digital onboarding, seamless lending, and support for small and medium-sized enterprises (SMEs). The onus is now on banks to go to market more quickly, which requires the implementation of intelligent processes and integrating corporates’ enterprise resource planning (ERP) systems with banking workflows.
To achieve go-to-market agility, banks across the globe are investing in and collaborating with FinTechs. Many of these partnerships are focused on boosting digital lending and providing seamless support to anxious small-business clients in need of assurance.
With newfound impetus for FinTech collaboration, commercial banks have picked up their step on the path toward OpenX. COVID-19 made it evident that survival during turbulence is manageable through collaboration with ecosystem players.
Read our Top Trends in Commercial Banking 2021 report to explore the strategies banks are adapting to transform their businesses from a product-led, siloed model to an experiential and agile plan.
When we published the Top Trends in Wealth Management 2020, little did we foresee the pandemic that would sweep through the world and disrupt life as we knew it. Yet, when we reviewed last year’s trends, we found that many still hold and some have taken on even greater relevance. One such trend is sustainable investing, which had begun to gain prominence as investors became more aware of ESG considerations, and firms rolled out more sustainable investing offerings. Another trend that has accelerated in the post-COVID world is the importance of investing in omnichannel capabilities and technologies such as artificial intelligence (AI) to enhance personalization and advisor effectiveness. The pandemic has driven wealth management firms to accelerate their digital transformation journey, with some immediate focus areas being interactive client communications and digital advisor tools.
There is no denying that time is of the essence. Yes, budgets are tight, but the Open X ecosystem offers wealth management firms opportunities to reimagine their operating models and deliver excellent customer experience cost-effectively.
Top trends in Payments: 2020 highlighted the payments industry’s flux driven by new trends in technology adoption, innovative solutions, and changing consumer behavior. The pandemic has tested the digital mastery of players, who are already grappling with transition. Non-cash transactions are on a robust growth path, accelerated by increased adoption during COVID-19. Regulators are working to instill trust and address non-cash payments risk amid unparalleled growth as players collaborate to quell uncertainty. Regional initiatives, such as the P27 (Nordics real-time payments system) and the EPI (European Payments Initiative), are gaining traction in response to country-level fragmentation and competition.
Investment in emerging technologies is looked upon as an elixir to mitigate fraud, data-driven offerings are being considered for providing value-added propositions, and distributed ledger technology is in focus for digital currency solutions, efficiency enhancement, and cost gains. New players, such as retailers/merchants, are integrating payments into their value chains while technology giants are upscaling their financial services game by weaving offerings around payments as a center stage. Constrained by budgets, firms consider business models such as Platform-as-a-Service (PaaS) to provide cost-effective and superior customer experience.
A combination of factors, including demographic changes, evolving consumer preferences, and regulatory and compliance mandates, were already spurring change in the health insurance industry. Enter 2020 and the COVID-19 pandemic, which is having sweeping implications for the industry.
At the peak of disruption, the focus was on ensuring business continuity, but new initiatives are cropping up to tackle the challenges as the industry adapts to the new normal.
Furthermore, some changes are here to stay, and it will be prudent for the industry players to be resilient to the market shifts by being agile, improving member centricity, making processes intelligent, and embracing the open ecosystem.
Read our Health Insurance Top Trends 2021 report to explore the strategies insurers are adopting to manage the external pressures.
The banking industry’s resilience is being tested as banks navigate through a remarkable 2020 filled with uncertainties. The impact of COVID-19 has been about setting the tone for future operational models. Retail banks have shifted focus towards integrated risk management with a more holistic view of operational risks. Adapting to the new normal, banks have prioritized cost transformation while engaging customers virtually. Incumbents sought to be more responsible within fast-changing environmental conditions and ESG remained a critical focus.
To provide more experiential services, banks are leveraging techniques such as segment-of-one to hyper-personalize offerings while aiming to humanize digital channels for increased engagement. Banks are also revamping middle and back offices, going beyond the front end leveraging intelligent processes. Open X is enabling banks to play on their strengths and use the expertise of ecosystem players. Going forward, banks are poised to become an enhanced one-stop shop by providing consumers value-adding FS and non-FS experiences.
To acquire customers in cost-effective manner, retail banks are tapping value-based propositions ‒ such as POS financing and mortgage refinancing. Further, Banking-as-Service provides incumbents a way to provide their high-value offerings to other players. In preparation for the future, banks will be looking to improve their go-to-market agility by leveraging the benefits of cloud. This analysis outlines the top 10 trends in retail banking for 2021.
Explore how Capgemini’s Connected autonomous planning fine-tunes Consumer Products Company’s operations for manufacturing, transport, procurement, and virtually every other aspect of the supply-value network in a touchless, autonomous way.
Financial services is undergoing a paradigm shift that is forcing incumbent retail banks to rethink growth strategies as they struggle to remain relevant. Growing competition from BigTechs, FinTech firms, and challenger banks has added to the complexity created by increasingly stringent regulatory and compliance requirements. Customers now expect a seamless customer journey and personalized offerings because they have become accustomed to top-notch individualized service from GAFA giants Google, Apple, Facebook, and Amazon. The changing ecosystem offers established banks new, unexplored opportunities and encourages a transition beyond traditional products to meet the exacting requirements of today’s customers. Bank collaboration with FinTech and RegTech partners is becoming commonplace. Incumbents are exploring point-of-sale financing and unsecured consumer lending, while they also boost their digital channel competencies to reach a broader customer base. Banks are beginning to accept open APIs and are working with third-party specialists to create an open shared marketplace. Technological advancements such as AI are fueling efforts to evolve customer onboarding and touchpoint processes. Increasingly, banks are turning to design thinking methodology to understand the customer journey, extract deep insights, and develop a more refined user experience across the customer lifecycle.
Our analysis of the top retail banking trends for 2020 offers a glimpse into the fast-changing banking ecosystem and explores the tools and solutions being used to face new-age challenges.
Aspects of the life insurance industry have remained constant for years – and so have premiums. Traditional savings products have taken a huge hit in terms of attractiveness because low interest-rates prevail. Meanwhile, the risk landscape is shifting, and insurers need to align better with the emerging business environment, manage changing customer preferences, and improve operational efficiencies. Within today’s scenario, industry players are undertaking tactical and strategic shifts in attempts to manage unpredictable market dynamics. Insurers must develop alternative products to breathe new life into policies and leverage emerging technologies (artificial intelligence (AI), analytics, and blockchain) to improve efficiency, agility, flexibility, and customer-centricity.
Read Top Trends in Life Insurance: 2020 for a look at the innovative steps future-focused insurers are considering to meet industry challenges and opportunities.
The health insurance industry is evolving and undergoing significant changes. As the risk landscape shifts, insurers are working to improve operational efficiencies, meet evolving customer preferences, and align better with the changing business environment. Accordingly, payers must adapt and align business models and offerings. An incisive tactical approach is required to accommodate members’ needs and related emerging risks — medical, health, and environmental. Advanced technologies such as artificial intelligence, analytics, automation, and connected devices are enabling insurers to manage these changes proactively, partner with members, and help to prevent risks, all the while continuing to fulfill payer responsibilities.
Read Top Trends in Health Insurance: 2020 to learn which strategies insurers are adopting to navigate and align with today’s challenges.
Similar to other financial services domains, payments is evolving into an open ecosystem. The EU’s Payment Services Directive (PSD2) pioneered open banking by encouraging banks and established payments players to securely open the systems to foster competition, innovation, and more customer choices. In tandem with non-cash transaction growth, regulations are driving banks and payments firms to expand their array of payment methods and channels. Governments are encouraging financial inclusion by also promoting the adoption of non-cash payments. Increasingly, merchants and corporates seek to offer alternative payment systems because of widespread popularity among consumers. Alternative payments also enable merchants to provide real-time and cross-border payments to boost business efficiency.
Banks, payment firms, card firms, BigTechs, FinTechs, and other players are continuously developing new technology to cash in on market changes. However, data breaches and fraud continue to hinder innovation as firms devote countless resources each year to address security issues. Many governments are also designing new regulations to reduce ecosystem threats. All these measures are expected to make the current ecosystem much more secure and simple for players as well as customers.
Top Trends in Payments: 2020 explores and analyzes payments ecosystem initiatives and solutions for this year and beyond
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1. People and Talent in BPO
the way we do itBusiness Process Outsourcing
2.
3. Business Process Outsourcing
(BPO) has never been in a better
state. Customers recognise that
it now means far more than just
more of the same for less money,
and they can see the value BPO
professionals can bring to broader
business transformation. Backed
by supporting evidence from
Horses for Sources (HfS) research,
Christopher Stancombe believes
the time is right to build a sense of
professional identity to match its
professional approach and make
BPO a career of choice.
From Serendipity to Excellence:
BPO as a Career
A career-defining moment…
In the early days, people used to arrive at a career in BPO as if by accident. It’s now
a more clearly defined profession in itself. Clients are more trusting than ever in the
skills, knowledge, experiences and assets that BPO professionals bring to the table.
Increasingly, BPO is helping to drive transformation and set the future vision for its
clients. I firmly believe the next generation of BPO professionals will be the trusted
partners of the CFO, tasked with building better internal customer satisfaction,
driving shareholder value and creating an organisational culture that mitigates risk.
The required skillset brings together an understanding of traditional operational
outsourcing with the more creative and strategic thinking associated with large-scale
business transformation. Typically, BPO is more associated with the former, but
growth in the latter now offers exciting scope for career progression.
I am a passionate advocate of BPO and the people involved in it – on both the client
and supplier sides. BPO is without doubt a ‘people business’. BPO needs strong and
skilled experts who can collaborate with clients, understand their distinct challenges
and drive improvements through innovation. As an industry, we need to attract
and retain those people better. That means better recognition for the work we do,
greater training and support to share knowledge and strengthen skills, and formal
qualifications to underpin and give value to career development.
Earlier in the year, I posed the question “Does ‘Generation BPO’ have a professional
identity yet?”, which you can read later in this paper, but first I’d like to report on
some recent analysis by HfS Research (commissioned in partnership with Capgemini
BPO), which surveyed BPO staff about their perceptions of BPO as a profession.
Its findings are generally positive, with the majority of experienced professionals
seeing BPO as an enabler of innovation and business change. Yet there is work to be
done. Particularly among newer entrants to the industry, with only one in eight seeing
it as a long-term career option. Overall, the message is that BPO is a “profession
that is becoming more sophisticated and important for achieving strategic
business outcomes”, but to “keep these professionals engaged… requires a more
comprehensively defined career path”. That’s the challenge facing BPO leaders now
if we are to continue the reputational growth of recent years.
Christopher Stancombe
CEO of Capgemini BPO
3
the way we do itBusiness Process Outsourcing
4. BPO: a view from the ground
In April 2015, HfS Research published its “BPO Profession” paper, which analysed
the findings of a survey of more than 500 BPO industry stakeholders, including
enterprise buyers, service providers and advisors.
The recognition factor
A key finding from the research was that “professionals in BPO like the intellectual
challenge, but many fail to see corporate commitment to BPO as a career”. Although
around three-quarters of respondents felt satisfied with the intellectual challenge
of their role, many did not see it as a long-term career or feel there was enough
recognition (non-monetary) within their own organisation.
How would you describe your satisfaction with your current role as it is relates to:
% Very Satisfied/ SatisfiedBuyers Providers Advisors
77%
Intellectual challenge
Workload
Skill development
Career opportunities
OUTSIDE your organization
Compensation
Career opportunities
WITHIN your organization
Non-Monetary Recognition
65%
65%
60%
55%
49%
42%
73%
67%
58%
67%
61%
57%
53%
78%
67%
60%
61%
61%
59%
64%
Key points
• Research conducted during February and March 2015
• Entailed a survey, plus qualitative and quantitative interviews
• Explored views on current BPO roles and long-term career potential
• 540 respondents from across North America, India and Europe
• Over 50% of respondents had more than 10 years’ experience
in BPO
Source: HfS Research, 2015, Sample: Enterprise Buyers = 121; Advisors/Consultants = 158; Service Provider Executives = 229
4 People and Talent in BPO
5. While in some ways this is a positive reflection on the changing nature of BPO away
from “lift and shift” towards problem-solving and solution-building, it also underlines
the need for more recognition of BPO across the corporate environment. The
investment is there internally, with growing commitment to training programmes and
skills development, and the bridge is starting to be made to executive engagement
(at CFO level) – it now just needs a further push to embed the concept of BPO as a
profession.
A framework to retain
One of the most significant findings from the research is the perception held by “new”
BPO professionals (those who have worked in the industry for less than two years).
Only one in eight view it as an exciting career choice, or believe that it has a defined
career path, or have seen a positive shift in the recognition of it as a profession.
Source: HfS Research, 2015, Sample: Enterprise Buyers = 121; Advisors/Consultants = 158; Service Provider Executives = 229
To what extent do you agree/ disagree with the following? (by BPO experience)
<2 years 2 to 5 Years 5 to 10 Years >10 Years
86%
63%
50%
BPO is a force for innovation
and change within business
My BPO role is fundamental
to business performance
I am excited about the future
of BPO as an industry
88%
69%
88%
84%
83%
74%
88%
91%
86%
13%
13%
13%
BPO today is an exciting
career choice
There has been a big recent
shift in the recognition of a
career in BPO
BPO has a defined career
track and a certain future
69%
50%
69%
53%
47%
34%
76%
67%
49%
Not fully
translating into
a sustainable
career for those
new to it
Excited about
BPO as a force
for change
5
the way we do itBusiness Process Outsourcing
6. This firmly reinforces the view that BPO needs to be professionalised. HfS suggests
that providers need industry-standard frameworks in place for skills development,
certifications, training and support if BPO is to be viewed on a level playing field
with other professions. Similarly, on the buyer side, HfS talks about how “BPO
professionals see peers in other parts of the business [Finance, HR, Supply Chain,
etc.] being promoted for doing the same or less” and advocates the use of leadership
and mentoring programmes, in collaboration with executives, clients, academics and
university partnerships, to “create a cohesive, well-defined, and engaging industry-
recognised career path”. Such frameworks to attract and retain talent, both on the
provider and client sides, will be vital to the future of BPO.
Technology enables. People deliver
It would be understandable if the rapid advances in enterprise technology and,
in particular, automation were seen as a threat to the sustainability of BPO as a
profession. However, it is pleasing to see that the vast majority of BPO people see
it the other way, as HfS puts it: “the increasing role of technology in BPO is having a
positive impact on engaging professionals in a long-term career choice”. Of particular
note, only 6% of BPO providers fear that automation will eliminate the need for their
skills in the future.
HfS asserts that developments in technology are integral to the emergence of a
BPO career. When routine tasks are automated and networks are optimised, it
allows more BPO time to be spent on adding business value – for example, through
intelligence-gathering and strategic planning. When clients embrace the “as-a-
service” mentality and liberate themselves from internal (legacy) technology, BPO can
step in to ensure technology aligns to and delivers the required business outcomes.
Technology, therefore, is not a threat to a career in BPO, but an enabler of it.
“As we move into the As-a-Service Economy, technology is becoming more integral
to BPO and therefore to the BPO career.” (Source: HfS Research, BPO Profession in
2015, page 13)
How does technology influence your decision to pursue a long-term career in BPO?
Source: HfS Research, 2015, Sample: Enterprise Buyers = 121; Service Provider Executives = 229
Positively — Technology has raised the value and potential of BPO as long-term sustainable career
Neutral — it hasn't really changed my decision-making
Negatively — I am concerned that BPO jobs will be automated in the future and will go away
Buyers 41% 55%
73% 21%Providers
3%
6%
6 People and Talent in BPO
7. The birth of the BPO consultant
Eight out of ten BPO providers report being under heavy pressure to increase their
skills in “defining business outcomes beyond cost reduction and efficiency”. This can
also be described, as one service provider exec put it, as “the increasing need for
consultative skills in a BPO role”. Simply put, to encourage lasting relationships with
clients, BPO needs to do more than meet the same service level agreements year
after year. It needs to anticipate future challenges and the next set of targets laid
down from the C-level.
Operating in this type of consultative capacity requires an understanding of how
technology can help clients work smarter, not just cheaper. Around two-thirds of
respondents believe that an increased understanding of automation is key to this.
HfS sees automation as the “building blocks to develop more streamlined end-to-end
processes, to perform more meaningful analytics”. They see it as less about reducing
labour costs and more about helping clients to deploy their talent on higher-value
activities.
Furthermore, their analysis suggests that the BPO consultant (or “Capability Broker”,
as HfS calls it) will need to respond to changing demands over the course of the
client relationship:
This makes it crucial for BPO service providers to have a deep pool of talent that
can deliver the evolving requirements of long-term contracts. Investment in career
development therefore becomes a real differentiator. If new entrants to BPO can see
where the industry can take them in the future, and they have the training, education
and mentoring infrastructure in place to get them there, retention becomes so much
easier.
The emergence of a profession
In summary, there is huge appetite on all sides to professionalise the BPO industry.
The research provides the beginnings of a blueprint to get us there, and it is now
the responsibility of BPO leaders to take definitive steps, as HfS puts it, “to turn
what perhaps started for many as an ‘accidental’ career path into something much
more dynamic and well-defined, with associated training, mentoring, roles, and
recognition.”
In less mature (< 3 year) engagements, BPO buyers need skills — influencing
senior executives and in technology, especially automation — that will help
ensure quick wins and continue executive support
In the next stage of engagement (3-6 years), the focus on skills depth
shifts to analytics along with automation to define and impact business
outcomes beyond cost
In the most mature relationships (> 6 years), the skills most needed involve
the application of technology and identifying new ways to drive cost
reduction and value
1
2
3
Source: HfS-Research, BPO profession in 2015, page 19
Download
the full study at:
www.horsesforsources.com/
wp-content/uploads/2015/04/
RS_1504_HfS-Report-BPO-
Talent-1.pdf
7
the way we do itBusiness Process Outsourcing
8. In advance of the publication of this study, Phil Fersht, CEO and President of
HfS Research, sat down with Christopher Stancombe to talk candidly about
BPO as a profession. Here are some highlights of that conversation
Q. Is BPO evolving into a genuine long-term career choice? Will it
become more widely recognised by our fellow professionals over time?
A. My view is that we have created a new profession. I have been in BPO
now for 13 years and I view myself as bit of a latecomer to it. There are a lot of
people that have been in BPO where that’s the only career they know. They
joined as graduates, they stayed in the profession, they have a fantastic client
service mentality, they are very innovative, they are very agile. They are keen
to work towards continuous improvement. They recognise that they learn from
new clients in new sectors. It’s a very exciting industry to be in.
I think what we need now is to create some structure around the profession
like other professions to establish some prestige. You know that if you become
a qualified lawyer you get letters that go after your name; similarly, if you are a
qualified accountant. I do think we need to start challenging ourselves. What
are we doing for the next generation such that people are proud to be in BPO
in the same way that doctors are proud or engineers are proud? It should be a
similar type of professional approach. And I think that’s what we need to bring
to BPO now.
Q. What measures do you think buyers and providers can take to
improve the level of trust in a relationship, to drive more innovations and
to have more high-level discussions?
A. It’s still a people business, so you need a good cultural match across
people on the engagement and client side. The tone has to be set from the
top. Make sure you have regular meetings at senior level. Talk to each other
regularly. Be transparent and open and have the right people on the account
with aligned coaches. You might want to rotate two or three people through
the account until you have the right people working together, so that they can
build a partnership aligned around the same measures. When people like each
other, spend time together and build a relationship – that’s how you get that
trust.
Chris Stancombe Interview
8 People and Talent in BPO
9. Q. Do you think clients are warming to a more a trusting relationship
with providers, and more open to building a strategic relationship?
A. I think it depends on the client and what the client wants. But certainly
more clients are now open to that part of the transformation. They recognise
the value of the people and their longevity, their different experiences, the
knowledge they bring, and the assets that we have built. The right client
wants to be able to leverage and tap into that value. I think that the evaluation
of suppliers is not just around what’s your price and what service levels will
you agree to. Increasingly, it is about what assets are you bringing and how
you are going to help us transform ourselves; how you are going to help drive
change and create a vision for us.
Q. Where do you think this conversation is going to evolve to in a
couple of years?
A. I think CFOs are going to be asking themselves ‘How are you going to help
me drive my business?
More and more people are saying it’s the culture of an organisation that drives
it. If you have the right culture in your organisation, your chances of success
are higher. So to me, the top three critical questions that the CFO should be
asking are:
• How do I build better customer satisfaction with my business?
• How do I drive value to my shareholders?
• How do you help me create the right culture in the organisation such that
my risk is mitigated?
9
the way we do itBusiness Process Outsourcing
10. Does ‘Generation BPO’ have a
professional identity yet?
A BPO Thought Process piece by Christopher Stancombe, 12 May 2015 (first
published at www.capgemini.com/blog/bpo-thought-process)
We are now seeing a group in our workforce who I call Generation BPO.
Outsourcing took off in the 1980s and BPO began in the 90s. As the 90s became the
00s, BPO became more sophisticated and moved up the value chain. Companies
still looked to us to cut costs, but they also outsourced business functions because
they wanted access to better technology, deeper process expertise and sources of
competitive advantage. As skilled outsiders, we were increasingly able to provide that
different mentality that helps organisations make a change.
The maturity of BPO has had a great effect on what it offers, but what is often less
talked about is what this maturity means for those who work within the industry.
Back in the 90s and early 00s, everyone above a certain level who worked in BPO
had come from somewhere else, because, when they were graduates, BPO did not
exist or was a cottage industry. But now BPO is 20 years old and the graduates who
started in the 90s are entering or established in senior management.
I can see this within our own business. A sizeable core of our senior management
team have been with us now for over 10 years. Across the whole cohort, the average
proportion of their career spent with Capgemini BPO is around a third, and as we
look into the younger ranks of management we can see this proportion changing
every year.
Meet the ‘BPO natives’
The idea of ‘BPO natives’ springs from comparisons with the better known ‘digital
natives’, i.e. those who have spent most of their lives surrounded by the internet
and other digital technologies and struggle to even imagine what the world was like
before.
It’s the same within Generation BPO. The majority are BPO natives who just
‘get’ BPO, and the huge potential for business value it can bring. These people
are business process experts, steeped in the methodologies of global service
standardisation, and the design and refinement of target operating models. Critically,
they are focused on business outcomes and not just the language of cost reduction
and labour arbitrage.
10 People and Talent in BPO
11. Law
Medicine
Airline
Engineering
BPO?
Accountancy
IT
BPO as a career of choice
There are more reasons than ever for top talent to choose to work in BPO from an
early age, rather than just arrive by serendipity through other career paths.
If you join a finance, HR or other back-office team in a large enterprise today, you
may quickly find yourself painted with a ‘cost centre’ brush, expected to deliver
more each year on an ever decreasing budget. The value you deliver (even though it
can be considerable) might not be understood or recognised as well as if you were
making a similar contribution as an external professional services provider. I’d say
that if you’re a bright young accountant today, joining Generation BPO is far more
attractive than it ever has been before.
The birth of a new professional identity?
The more you think about it, the more this all adds up to something very significant.
A whole new industry has grown up in the last decade, and that’s quite an unusual
thing. However, despite the considerable specialisms and skillsets involved, I’m not
sure a BPO professional identity has grown up alongside it yet. Many of us in the
industry will still self-identify as accountants, HR or supply chain professionals, ahead
of BPO.
If Generation BPO is to thrive, and we are to attract the very best talent to its ranks,
I think we probably need to do more to help them. We need to provide more of a
structure to the profession itself, and more of a framework for career progression,
identity and recognition.
Doing this will involve thinking about some really fundamental points: what makes a
profession and what examples can we learn from and follow? When we compare the
professional infrastructure and apparatus of BPO to established professions (doctors,
lawyers or engineers), what are we missing? What kinds of training, qualifications,
associations and communities make up the building blocks of an industry’s identity?
That’s a lot of questions – and rather too many to cover here, but I think this deserves
further attention, so I will return to this topic soon in another post.
Where does BPO fit in the professional identity parade?
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the way we do itBusiness Process Outsourcing