- September 22, 2016
- Posted by: Phillip W. Duff
- Categories: Nearshore call Centers, Opinions, Technology, Training, Uncategorized
Most people first think about near shore or off shore BPO when they are looking for better labor rates but they may be missing the biggest reason to use a BPO in Jamaica.
When you begin to look for better labor rates you are first lead to off shore options like the Philippines or India and when you get further into your due diligence you discover the labor rates are not as good as you were looking for, even though much better that what your paying in the USA.
As your research leads you to near shore operations you see more value for your dollar with the Caribbean workers. You find many English speaking countries with nice Universities and a labor force that desire to have a job not a labor force that feels entitled to work and benefits.
St Lucia, the Dominican Republic, Aruba, Puerto Rico all have BPO operations and the BPO call center crown jewel is Jamaica. Why Jamaica? The biggest reason is the exchange rate, yes the exchange rate. Yes the workers are priced appropriately, they are effective and experienced, they have excellent verbal skills and work ethic but the largest reason is the US$ to JD$ exchange rate.
“The value of the Jamaican dollar has depreciated by 4.8 per cent for the financial year to date compared with a depreciation of 3.2 per cent for the same period last year.” See reference
There was also a notable increase in the employed labour force by about 40,100 people. Overall, GDP at best is projected to grow at anywhere between 0.5 and 1.5 per cent on average for the entire year”. See reference