There is no better time to consider offshoring to the Philippines. This is especially true for the booming retail industry that is consistently in the forefront of new business innovations. The upcoming holiday shopping season is a busy time, but it’s never a slow day in the retail industry.
As the industry becomes more global and accessible, it’s easy to feel overwhelmed by it. Both the global scale and consistent demand from consumers can be challenging to take on. This is why retailers – of all sizes – are offshoring to the Philippines. They see the value of offshoring to the Philippines and why working with Filipinos is vital to their success.
A Brief History of Offshoring in the Philippines
The BPO industry plays a significant part in the Philippine economy. It is the second biggest contributor to the country’s GDP and is poised to become the biggest in the next few years. The Philippine government recognizes this and continues to be supportive of the industry. They set up economic zones to aid businesses in developing and prospering around the country. In 2017, a Tholons report said that, when it came to talent, skill and quality, the Philippines was the best destination to get all of these.
Part of the reason the BPO industry remains strong in the Philippines is rooted in its history. The industry first gained traction in 1992 when Accenture established itself in the country. Since then, different companies call the Philippines their outsourcing and offshoring destination of choice. There are now also a wider range of industries that are now offshoring and outsourcing ever since it started. These range from your typical industries – from finance to IT – to surprising ones that were unheard of only a few years ago, such as construction and healthcare.
In turn, both the BPO industry and the country evolved alongside each other and stayed at the forefront of changing trends. These trends include offshoring to the Philippines. In the same Tholons report, the Philippines was called the “undisputed leader” in customer service due to its positive business climate.
The Power of a Filipino Workforce
So how does the BPO industry continue to thrive in the Philippines? Apart from consistent government support and exceptional infrastructure, it’s what the Filipino workforce consistently delivers. The Philippines has a deep talent pool that specializes in both particular skills and a wide range of them. More global companies are seeing what they can do and tap into this talent pool as well. Indeed, this versatility is what makes the Filipino workforce unique, but that’s not all they are known for.
As one of the largest English-speaking nations in the world, education in the Philippines helped shape its talent pool. The neutral accent that many Filipinos have makes it easier for them to communicate with international clients. An estimated 30,000 to 50,000 graduates each year earn degrees across many specialized industries that have helped businesses prosper globally.
When asked to describe their workforce in the Philippines, clients often describe them as “dedicated,” “hard working” and “personable.” These traits are rooted in both traditional and modern Philippine culture that is only unique to the country. A strong commitment to loyalty, respect, family and faith are also traits that can be considered uniquely Filipino. They practice these in their personal lives and often carry it over professionally.
Why Consider Offshoring to the Philippines
Before deciding if you should offshore to the Philippines, remember that outsourcing and offshoring are two different approaches. Though mostly similar, offshoring requires more regular engagement with your team in the Philippines as they are extensions of your own local workforce. While outsourcing a team means letting your provider have free rein over them, the same cannot be said for offshoring. Offshoring also means being able to prioritize core activities while working with a flexible staff that can adapt quickly when your business needs to scale.
If retailers decide to offshore, it has to be seen in the long-term. One of the great things about offshoring is that it helps cultivate a team that becomes invested in your company. Through daily management, your offshore team can be shaped to be a high-performing, productive one. They can quickly align with the goals you have set for yourself and produce more than exceptional results. This close collaboration is achieved through access to the latest technology and robust infrastructure. By offshoring to the Philippines, retailers will have access to these benefits, all at a lowered cost compared locally.
Shaping Future Business Trends
Indeed, what started out as an industry of customer service call centres is now one that can take on back-office roles and more mid to high-level tasks. Offshoring as a whole is continuing to evolve, and offshoring to the Philippines is seen as a smart business move by many. Whatever functions that retailers choose to assign, working with a dedicated offshore team means staying ahead of the competition and seeing firsthand how the future is being shaped.
Yes, compared to outsourcing, implementing an offshoring strategy requires more legwork and a strong commitment. However, finding the right offshoring partner to collaborate with can make this transition seamless and easy. As 2018 comes to a close, you may think that the best time to begin considering your offshoring strategy is when the New Year comes along. However, as mentioned earlier, there is no better time to consider it than now. With the competition looking at what offshoring to the Philippines can do for them, there’s no reason to be left behind.