Whether you want to support an overloaded contact centre that’s drowning in repetitive queries, or need a talented design team to support your onshore marketing department, building a team in the Philippines could be the solution your business needs. The possibilities of roles that can be delivered from the Philippines are almost endless.
The Philippines has the fastest-growing economy in Asia , and joins Singapore as one of only two territories in Southeast Asia that has officially mandated English as part of the public education system. This has resulted in a vibrant local business community and a large English-speaking workforce. The country's young population is highly educated, resulting in a large pool of highly-trained professionals.
However, what really drives strategic advantage is the cost of living and doing business in the Philippines which remains up to 80% lower than in most Western countries. This offers overseas businesses access to an inexpensive workforce for up to a third of the cost to building a team onshore.
Here are five ways building a team in the Philippines could boost your business:
1. Reduce your costs
Salaries in the Philippines are around 60% to 80% lower than in most Western countries. This represents a huge cost saving for Western businesses, especially when employing people in non-core positions or for roles that require repetitive tasks.
2. Gain access to talent
The Philippines is an English speaking labour market with an average workforce age of 23.4 years. Combine this with a labour force of 40 million plus and 650,000 skilled university graduates, graduating from university each year and you have a perfect storm of highly skilled, English proficient workers in waiting.
3. Be seriously strategic
In the modern business environment, market conditions shift quickly and successful businesses need the flexibility to roll with the punches. Building your workforce to the Philippines allows you to quickly scale up to capitalise on new opportunities and efficiently scale down when times are tougher.
4. Reinvest your savings
Savings made from reductions in staffing costs can be reinvested into your sales and marketing budget, or in other areas of your business, to win new clients and support your business growth. Alternatively, use the savings to subsidise lower price points or to fund research and development initiatives that will give you a competitive advantage in your market.
5. Enter new markets
Thanks to its fast-growing economy, the Philippines is becoming the business centre of Southeast Asia. Building a local team of experienced staff could be your springboard into lucrative new markets. With a rapidly developing Southeast Asian middle class that’s set to grow to 400 million people by 2020, the future success of your business could depend on it.
Try it for yourself
To compete in the dynamic modern economy, your business needs the flexibility to roll with shifting market conditions. Constantly rising customer expectations also mean they often want more, but pay less.
Building a team of educated English-speaking Filipinos will deliver the savings you need to build a competitive advantage, and allow you to quickly scale your business as the market demands.
It will also allow you to test new products or ideas with an inexpensive short-term workforce, free your staff from mundane tasks so they can focus on the big picture, and even act as a springboard into lucrative new markets.
Talk to our Microsourcing experts to find out more about how building a team in the Philippines can help boost your business or call us on 1300 725 628.