As a company leader, you are always looking for methods to streamline your processes and cut expenses. An effective way to reach this goal is through offshore hiring.
When it comes to global offshoring, the Philippines stands out, competing with big names like India, Central America, the swiftly evolving Eastern European markets, commanding an estimated hold of 10-15% of the global BPO market. The Philippines is different from other well-known outsourcing hubs like India and Singapore. India is appealing because of its cheap labor force, while Singapore is appealing because it has a lot of highly skilled workers.
What makes it different?
It has all these benefits and more, making it an ideal place for outsourcing because it combines low costs with high-quality work. This makes it the only choice for businesses that want the best of both worlds.
Why the Philippines excel as an offshoring destination.
Significant Reduction in Cost
Labor costs are one of the most significant expenses of your business. This is why companies choose to offshore operations to the Philippines where the basic wage is lower not only to their western counterparts but even to some Asian countries. And you can cut labor costs without compromising the quality of work.
The World-class Labor Force
The Philippines has a world-class workforce with Western education, making it ideal for outsourcing. Their global reputation for outstanding work is attested to their talents and abilities.
Filipino hospitality makes the Philippines an attractive outsourcing destination. They welcome requests and are very accommodating, fostering collaboration and client happiness.
The Filipino work culture, based on teamwork rather than individualism, makes them adaptable and cohesive. This cultural feature streamlines and improves professional environments by increasing organizational efficiency.
Lastly, the Filipino workforce’s education, adaptability, and collaborative approach produces an ideal environment for achieving organizational goals, making the Philippines a popular outsourcing destination.
Strong English Literacy with No Strong Accents
The Philippines have preserved a consistently high rating in the English Proficiency Index. They have maintained this standard due to the country’s school adhering to western standards when in it comes to English. They also have the advantage of having no strong accents that make communication easier.
Decentralized Command, Centralized Focus
Offshoring in the Philippines allows companies to distribute decision-making authority across various teams while maintaining a unified strategic direction. Decentralized command allows you to assign time-consuming and repetitive work to teams that are dispersed throughout different regions and have the independence to make quick decisions. While the centralized focus makes sure that all teams, despite their autonomy, coordinate their efforts with the organization’s overall objectives and vision.
Government Support
The Philippine government takes pride in the country’s title as the top outsourcing hub. The offshoring industry plays a vital role in the country’s economic growth.
In 2015, the BPO sector accounted for 7.3% of the country’s economy, generating an estimate of over $22 billion in revenue. The government encourages foreign investors by giving them incentives such as tax holidays, tax-free importation of equipment, and visa assistance.
Final Thoughts
The Philippines continues to hold a strong position in the worldwide market as a top location for offshore outsourcing. Its outsourcing sector constantly strives for innovation, broadening the range of advantages that draw in foreign executives to utilize Filipino talent. This dedication to development and improvement reinforces the Philippines’ standing as a reliable option for companies looking for superior offshore solutions.
To explore the boundless possibilities of offshoring to the Philippines and harness the expertise of their exceptional workforce, Connect with Offshore MVP today to discover how partnering with Filipino talent can elevate your operations and drive unparalleled success.
