Specialist Outsourcing Recruitment By English Speakers
Outsourcing is a business practice in which services or job functions are transferred to a third party to traditionally save costs. Top Skills Recruitment are outsourcing recruitment specialists in Bulgaria.
Companies may choose to outsource services onshore (within their own country), nearshore (to a neighboring country), or offshore (to a more distant country).
Bulgaria is well-suited to attract outsourcing companies due to the language and IT skills within the country – especially in new graduates.
Business process outsourcing (BPO) is an overall term for the outsourcing of a specific business process task, such as payroll.
Within BPO there are several subcategories such as:
- Information Technology Outsourcing (ITO). Outsourcing here ranges from infrastructure to software development, maintenance, and support.
- Knowledge Process Outsourcing (KPO). The outsourcing of such information-related business activities requires a talent pool with expertise, and analytical and technical skills.
- Legal Process Outsourcing (LPO). Outsourcing legal support is an opportunity for corporations to lower costs and free up resources.
- Human Resources Outsourcing (HRO). Activities like recruiting, training of personnel, tracking goals, payroll, etc. are transferred to an external HR service provider.
Outsourcing Recruitment Specialists in Bulgaria
The outsourcing sector in Bulgaria is expected to generate 9.2% of the GDP in 2022 with a forecast of a turnover of EUR 4.8 billion. Full-time employees in BPO are expected to reach 80,000 by 2022.
Bulgaria is the outsourcing destination of choice for many European countries. Indeed, recently the World Bank chose Sofia as its second global outsourcing centre.
Bulgaria has mainly focused on ITO, but outsourcing is moving into a wider range of sectors including marketing, sales, fintech, accounting, and human resources.
The early years of outsourcing required employees to speak two languages but now this has increased to include engineering and business skills. Sofia University, the oldest and most prestigious in the country, has recently set up a master’s Programme focused on outsourcing.
Why Is Bulgaria a Popular Outsourcing Destination?
- The following are some of the reasons why Bulgaria has become the outsourcing centre for Europe:
- Located in Europe with a maximum two-hour time difference.
- Similar business attitude and work ethic.
- Modern office buildings and excellent internet connection.
- Affordable real estate in Sofia and other cities such as Plovdiv, Varna, Burgas, and Veliko Tarnovo.
- Highly educated employees with over 80% of working-age Bulgarians having a secondary or higher education.
- Bulgaria is ranked 10th in the world by the number of available certified IT specialists.
- Bulgaria has a 10% flat tax rate, the Bulgarian economy is stable and the currency is linked to the Euro.
Different Types of Business Outsourcing in Bulgaria
ITO
ITO can range from discrete, easily defined components, such as software development or QA testing to the IT whole setup.
- Bulgarian software companies:
- It is one of the biggest GDP contributors in the country.
- Experience an annual growth of more than 20%.
- Provide expertise and innovation solutions with software products.
- Offer services to clients across the globe in more than 25 languages.
- Build up a high-tech workforce with more than 30,000 graduates each year.
KPO
A new trend in Bulgaria is the development of LPO. The most serious obstacle is the difference in national civil legal systems. However, this is not expected to influence most of the LPO work, as the CEE region has already been labeled as the forerunner in multilingual patent outsourcing.
LPO
KPO is still the least developed segment of the outsourcing sector in Bulgaria with an estimated share of 10% of the local market. Expected growth within this segment is anticipated since it provides much larger rates of profit margin.
HRO
Human resource outsourcing refers to a process in which the employer transfers responsibilities for HR functions to the external provider which performs these tasks for the company including:
- Recruiting, training, and development
- Overseeing organizational structure and staffing requirements
- Tracking department objectives, goals, and strategies
- Employee orientation programs
Outsourcing Recruitment Specialists in Bulgaria
If you require any help in setting up your outsourcing operation please contact Top Skills the Outsourcing Recruitment Specialists in Bulgaria
