The Outsourcing Sector Accounts for 2.4% of the Country's Labor Market

Business | July 10, 2019, Wednesday // 12:37| Views: | Comments: 0
Bulgaria: The Outsourcing Sector Accounts for 2.4% of the Country's Labor Market ikonomist.bg

The outsourced industry is among the best employers in Bulgaria. The outsourcing sector in Bulgaria accounts for 2.4% of the country's labor market, employing more than 67,300 people, and by 2021 their number is expected to exceed 79,000 people. This shows the data from the last annual report on the development of the Bulgarian Outsourcing Association's industry, quoted by technews.bg.

At the same time, the sector of outsourced services generates 7.9% of all wage costs in our economy, indicating that wages in the sector are many times higher than the average for the country.

According to a recent survey by the international consulting firm Mercer among BAA members about their HR policies, 96% of companies also give an annual bonus to their employees, which is on average one gross wage. The growth rate of wages in the sector on an annual basis is 6% and is commensurate with the rest of the economy.

Due to the observed tendency for companies outside Sofia to move away, mainly in large universities, wage growth outside the capital is 10-11% over the past year.

Among the other common HR policies are the additional benefits that the sector provides as an employer. 100% of companies provide additional health insurance to their employees, as well as a bonus to bring a new colleague to the organization.

Nearly 70% of companies provide free sports cards to their employees or partially cover the cost of sporting activities. The same percentage of employers also provide free, healthy office food.

86% of the outsourcing companies have created gaming, sports and entertainment venues in their offices. Every fourth of five companies gives the option to work from home if the nature of the work allows it.

"Both globally and in Bulgaria, with the digital transformation of the various industries, there is a tendency for a stronger link between business process outsourcing (BPO) and IT outsourcing (ITO). Companies in Bulgaria are now turning to the use of ever more digitally-oriented instruments that allow the added value of their services to grow ", commented Ivaylo Slavov, Chairman of BAA Board and co-founder and CEO of Bulpros.

Another common feature of the outsourced industry is investment in socially responsible campaigns. The areas in which companies organize their initiatives are related to health and safety prevention, ethical standards of behavior, promotion of separate waste collection and recycling.

The outsourcing sector is also one of the largest investors in the field of education.

Nearly 100% of companies (96%) have different partnerships with universities or other educational initiatives.

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Tags: Bulgaria, labor market, labour market, outsourcing industry
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