MN7234ES-Madushanka HR

Introduction The outsourcing industry has always led the way in making work more flexible and efficient. However, after the COVID-19 pandemic, the remote work concept became more popular in the outsourcing industry. This shift has transformed  where  people work and   how human resources (HR) are managed within outsourcing firms. This article explores how remote work has impacted HR in outsourcing, the challenges HR teams face, and the creative solutions helping these organizations succeed  (NATIONAL BUREAU OF ECONOMIC RESEARCH, 2023) . The WFH Transformation in Outsourcing The outsourcing industry used to depend on physical offices with dedicated equipment to ensure security, productivity, and customer satisfaction. But with the rise of work-from-home (WFH), many outsourcing companies started to adopt remote work models. Over the period, they realized the benefits of WFH, like saving on office space costs and accessing a wider pool of talent by hiring skille...

 Overview This decade has proven exceptionally challenging for the Sri Lankan economy. The impact of terrorist attacks, the COVID-19 pandemic, and political instability have taken a toll on various sectors, including the education system. Prolonged exam delays and obstacles in remote education have disrupted academic progress for many students, delaying their academic achievements. Additionally, the economic crisis has led to an increased migration rate among professionals and students pursuing better education and career opportunities abroad. This talent drain has contributed to a significant shortage of skilled workers, particularly within the finance and accounting sectors. (Abayasekara, 2021) Essential Academic Qualifications for Sri Lanka's Finance and Accounting Industry In Sri Lanka, qualifications for finance and accounting roles typically align with global standards, and several professional certifications and degrees are recognized and valued by employers. Here are the ma...

Outsourcing Industry in Sri Lanka. In the rapidly evolving business landscape, many companies increasingly utilize third parties to perform essential functions, a practice known as outsourcing or business process outsourcing (BPO). This approach involves contracting out tasks such as payroll, IT services, finance, bookkeeping, and call center operations—some of the most common functions outsourced today. In Sri Lanka, the BPO sector is one of the fastest-growing industries. According to the Association for Software and Services Companies (SLASSCOM), projected revenue is expected to reach $5 billion, with an estimated 200,000 jobs created by 2025. The growth of this industry is driven by a skilled workforce cost competitiveness, and strong government support  (Sri Lanka Association for Software and Services Companies (SLASSCOM), 2021). Expansion of Work from Home in Sri Lanka’s BPO Sector During the COVID-19 outbreak in March 2020, most BPO companies in Sri Lanka strategicall...