is the #1
The Philippines is a world-leading business process outsourcing (BPO) destination for companies around the world.
The Philippines boasts:
- an abundance of college-educated English speakers - one of the largest English speaking populations in Southeast Asia
- top ranking as a call center destination
- high-skilled labor at a low cost
- strong government support - including tax breaks and subsidies to spur investment
- healthy economic development with 6.7% GDP growth in 2017
The wealth of talent and international business expertise found in the Philippines makes it one of the fastest growing economies in Asia.
The solid foundation of continual growth, quality of service, and cost of doing business makes the Philippines surpass traditional BPO destinations such as India.
The Filipino workforce is young and highly educated, which is one of the largest draws for companies that need help with their business processes. The average age in the Philippines is 24 years old, a demographic that has grown up during a time when the BPO industry began to flourish. This young workforce has had access to growing BPO training opportunities through independent programs and higher education institutions. Filipino workers are entering the marketplace well-equipped with the knowledge and tools needed for success. They recognize and believe that the BPO industry is one of the best employment options in the country. This makes them better suited to adapt to the changing needs of the market, remaining agile and flexible so your business can benefit from a mindset driven by customer service.
Language and Culture
Bilingual English proficiency is a defining advantage of Filipino workers over other outsourcing hubs. English is the second official language of the Philippines and the main form of communication in their education system. This setup then enables Filipinos to effectively converse with their foreign counterparts in the industry — with no language barrier.
Filipinos learn to speak English with a clear, neutral accent and possess a profound and natural understanding of global culture. Spanish, Chinese, Indian, Malay, and American influences shape the history of the Philippines and contribute to their cosmopolitan understanding of the world. Today, American and Asian pop culture permeate the country to create a population of workers who have similar interests with your local workforce. This cultural alignment has a significant impact on the quality of your outsourcing experience.
Labor Pool Availability
The majority of the population in the Philippines is available to work (the labor force participation rate as of writing is 62.1%), making the country an ideal place to outsource work for a range of industries such as accounting, customer support, IT, and legal and business support.
Labor costs are always a governing factor for the growth of any company - from fresh startups to global corporations. Location has a massive impact on the livable wage necessary for an employee to have a good quality of life.
The Philippines has a lower cost of living, which is an immense contributor to the lower cost of labor. Because of this low cost of living, Filipinos who work at IT BPOs can generate the same quality of service at a fraction of the cost.
Factoring in costs related to hiring time, training, staff appraisals and HR - as well as lower overhead costs for office space and equipment, outsourcing can bring a wealth of benefits to a company.
Natural concerns can arise from outsourcing to save on costs. However, lower cost does not necessarily mean a lower quality of training, service, or working environment. The team at Gear Inc. operate in the Philippines because it fits in the ‘Goldilocks’ region for outsourcing. The high level of education, language fluency, and lower overall cost of doing business creates the ideal environment for Gear Inc. to help its partners.
Central business districts, high-end buildings, office leases, and seat rentals are widely available in the Philippines. Brand-new, high-end office spaces are are a staple of the IT and Business districts throughout the country. The wealth of sites available in the country give investors the opportunity to choose the best sites to develop their businesses.
The BPO industry in the Philippines is rapidly progressing and, thanks to its solid foundation, shows no sign of slowing. Talent, culture, cost, and location, make this country the best outsourcing destination to support your business growth goals.