Many foreign companies look to Asia to outsource both their essential non-essential operations because of the cost-effective rates.
The Philippines, second to India in terms of industry size, is one of the top choices of many businesses for outsourcing voice-based services. In 2017, the Philippine outsourcing industry has employed over 1.15 million Filipinos working for many foreign companies of various sizes.
Here are some reasons why a lot of businesses have chosen Filipinos for outsourcing:
1. Makes your operations cost-effective
Running a business gets costly. But by outsourcing your operations, you will be able to scale up cost-effectively. Getting that extra headspace to focus on the core functions of your business is the key to being more competitive.
You guessed it, the reasons for cost-effectivity is the lower cost of living in the Philippines. The salary of Filipino employees costs only about a fraction compared to their western counterparts.
This is extremely beneficial, especially for startup businesses that are working on a limited budget.
2. It’s an English-speaking country
The West continues to have a strong influence on Filipino culture. English has become the second language for most Filipinos, being used in mass media and the education system.
According to the 2019 EF English Proficiency Index, the Philippines places second in Asia and twentieth out of a hundred countries.
This makes it easier for you and your customers to communicate with your offshore team. Filipinos are preferred by many companies for outsourcing front end and customer service operations because of their neutral English accent.
3. Full support from the Philippine government
In its effort to develop the IT-BPO industry in the country, the Philippine government gives benefits to encourage more foreign investment. These include tax holidays, tax-free importation of equipment, and visa assistance.
The Philippines also has a Data Privacy Act in place to protect the outsourcing industry. With international data privacy standards being implemented, you can make sure that all sensitive information will be secure with Philippine outsourcing companies.
4. It has a large pool of highly-skilled individuals
Filipinos put a high premium on getting an education to get hired in a good company. Each year, the country produces hundreds of thousands of college graduates who are looking for good employment opportunities. According to the Commission on Higher Education, there were a total of 796,712 Filipino higher education graduates in 2019.
The government has also partnered with several universities to create a specific curriculum for business process outsourcing. This is to make sure that the Philippines can offer a specialized workforce for the industry.
Because you’re working with highly-skilled individuals, you can expect them to produce a better quality of work. Many businesses have ranked the Philippines at the top in service delivery quality surveys.
5. Young and tech-savvy demographic
With an average age of 25.7 years old, the Philippines has a young demographic. Younger team members can be helpful in thinking of new and fresh ideas for your business.
This young demographic grew up using technology and understands how it can be used to improve business operations. A tech-savvy demographic makes it easier for you to train your Filipino employees on working with new technology.
Virtual Champs Global has over a hundred skilled and tech-savvy Filipino employees. Each one is dedicated and prepared to help you with your business needs.