According to an article in Business Week, the Philippines is on target to grow its business process outsourcing revenues to $13 billion, and provide jobs for 650,000 people, by the end of this year. So, what exactly are the advantages of outsourcing to the Philippines that have led to it becoming a first choice outsourcing solution for businesses across the globe?
- Language
First and foremost is the ability to speak English well and have no foreign sounding accent. To most businesses, this is the greatest advantage when outsourcing to the Philippines. In fact, India may have lost around 100,000 call center jobs to the Philippines due to its “high-quality voice skills”.
- High Levels of Literacy, Skills and Education
The Philippine government recognizes the importance of education and this is evident in the high 92.6 percent literacy rate (per CIA figures). The Philippines also produces over half a million college graduates every year. This means that there is a large pool of talented and highly-educated professionals available to choose from.
- Available Skills Match Industry Needs
About a quarter of Filipino graduates are specifically qualified for business-related jobs such as finance and marketing. And, many of these professionals are eligible in customer-related functions. The skills available in this pool of professionals match the needs of many U.S. businesses.
- Lower Costs
Outsourcing to the Philippines can save a company up to 30-40% in operational expenses. This is huge savings for small and medium-sized companies especially. Think about it – the minimum wage rate in the U.S. is approximately $8 per hour, whereas in the Philippines it is $8 per day!
- A Comparable Culture
Did you know that the Philippines were the first colony of the U.S.? For nearly 50 years (1898-1946) the Philippines was governed according to an American system. During this period, it was exposed to American language, education, politics and cultural values. To this day, many Filipinos are keenly aware of what is happening in America in sports, politics, fashion, etc.
- A Good Working Attitude
Countries give high preference to Filipino workers because they are honest, well disciplined, and hard working. Many countries regularly send hiring delegations to the Philippines to recruit workers for their local businesses. This shows that Filipinos can be relied on to produce the results expected of them.
- High Internet Usage Among Filipinos
Many Filipinos have access to the Internet and use it regularly. The Philippines has a 24.5% Internet penetration rate compared to 7% in India. The telecommunications industry there is growing at a very fast pace and this is expected to continue in the future.
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Learn more about outsourcing to the Philippines at http://squidoo.com/outsourcing-outsource
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