An impressive number of international businesses choose to outsource or offshore their resources in the Philippines. For almost 20 years, the country has fostered a thriving business landscape where Business Process Outsourcing (BPO) companies have provided industries with many competent professionals.
With the Philippine BPO industry being the second largest contributor to national GDP, as well as generating 1.3 million jobs in 2016, it certainly makes one think: what makes the Pearl of the Orient really good for international business?
Cost-efficient without sacrificing quality
Foreign companies scrutinize the work quality offered by BPOs, as they might regard local employee standards superior to outsourced ones. The sheer talent and adaptability of Filipinos often surprise overseas employers and are equal in standing with their local counterparts.
Hiring a pool of outsourced employees costs a fraction of what local ones would charge. These companies often expect outsourcing to save them about 50% of hiring/employment costs.
A culture of influences
Colonized for centuries by Western explorers, Filipinos are no stranger to their culture and individual sensibilities. In addition to their impressive command of the English language, Filipinos are extremely familiar and in tune with foreign cultural trends, further increasing their value as business partners.
Filipino work ethic is practically unrivaled throughout the world, and their flexibility in learning new things are great assets to any business. Companies in need of resource management services through BPOs can rest easy, as training Filipinos in knowledge-heavy tasks are relatively effortless. There’s a reason a majority of overseas workers hail from the Philippines.
The Philippines continues to see optimistic economic growth projections, with consumers as the driving force. US companies proceed to invest in operations in the country, seeing the value it provides with less-costly labor. BPOs setting up operations outside Manila like Southern Luzon, Cebu and Davao see more opportunities for driving growth further in the future.