Managing business can be a tough job for entrepreneurs because they have to balance controlling their costs without compromising quality. Business owners implement strategies that target this balance.
Some entrepreneurs already contract workforce talent overseas,targeting labour markets which offer highly skilled, well-educated workers at a lower cost. This is called outsourcing.
Offshoring is a similar means of reducing costs with labour markets overseas. Offshoring refers to the expansion of a business operation into a lower cost economy to leverage cost efficiencies. The Philippines is one of the top choices for Business Process Outsourcing (BPO) all over the world, unseating India which had been topping the list previously.
The Philippines has always been ranked as one of the best outsourcing countries in the world. Listed below are the reasons why:
- Time Difference Is Not An Issue. Only two hours behind Australia (EST). One reason why the BPO industry boomed to success in the Philippines is because Filipinos are flexible on time. Filipino employees are willing to work shifts even if it means working at night, on holidays, and challenging schedules to accommodate clients regardless of where they are located in the world, although with only two hours difference to Australia, they are the perfect working companion country.
- English Language Proficiency.The Philippines has one of the highest levels of proficiency in English in the world. English is their second language and often, it’s spoken over and above their native language, in business settings.
- Highly Skilled Talent.While it is a popular misconception that BPO in the Philippines is limited to call centres, there are a large number of providers offering talent across a multitude of fields including accounting, debt collection, human resources, customer service, financial services, legal transcription, software development, animation, graphic design, content writing and marketing. Contrary to the belief that the primary reason business owners outsource is only to reduce costs, they also choose to outsource to target the best talent for the job.
- Excellent Work Ethics.Business owners invest in Filipino teams due to their excellent work ethic, values, integrity, loyalty, service-oriented mindset, and the friendly working atmosphere. They value integrity just as much as they value time and show innate respect for individuals. Filipinos generally know what fun is without forgetting what responsibility entails and they place a high regard on professionalism.
- Quality Yet Cost-Effective. Filipinos strive to produce quality work. This is obvious by looking at the outstanding business results produced by BPOs in the Philippines.Simply because Filipino talent is a low-cost alternative for businesses, does not mean quality is jeopardised. The difference in labour costs, benefits, and operational effectiveness between countries makes the Philippines a more appealing location to outsource and grow an offshore team. The good thing about outsourcing in the Philippines is that business owners pay LESS for MORE.
- Cultural Compatibility.Tracing back, the Philippines was colonised by foreign forces from Spain, United States, Japan, Portugal, and other countries. As a nation that was colonised by various foreign invaders in the past, Filipinos were influenced with ethical values, traditions, customs, behaviours, and ways of life that weren’t originally theirs. This history is what comprises the Filipino character at present. It also created a compatibility among Filipinos and foreign cultures giving them the edge against other nationalities in providing excellent BPO services.
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So, now you know why the Philippines is one of the top outsourcing destinations in the world – what’s next? Contact us now……………