Outsourcing offshore has become a practice that many businesses, big and small, have been leveraging more and more in the past decade. While there are several countries that are well-known for offering virtual services such as Malaysia, South Africa, and India. It’s the Philippines that has been making headway in the outsourcing world—a research study on the global outsourcing market in 2016 revealed that Manila sits in second place for the biggest outsourcing city in the world. Bangalore, India, is the only city with a larger outsourcing market. Shanghai, China is the first Chinese city that shows up on the list, and that’s not until 12th place.
MyOutDesk’s Virtual Assistants are based in the Philippines for many reasons: their determination and hard-working, indomitable spirit are just a few of them.
Here are some facts and statistics that support why outsourcing to the Philippines makes absolute sense:
1. 92.58% English Literacy Rate – Filipinos speak English extremely well and easily adapt a neutral accent.
This is an important factor as it makes communication more efficient between the business owner and their virtual assistant. For the most part, the schools in the Philippines use English as their primary language in teaching and learning.
2. Culture – The Philippines was an American colony for 50 years. Their culture is much more in line with western culture than you’d expect. Filipinos are very much aware and interested in American pop culture—from tv shows, to food, fashion, movies and music. Because of that natural fascination, Filipinos easily relate to references and vernacular that is used in typical daily communications.
3. Education – The Philippines consider education extremely important. In fact, the Philippines produces around 400,000 College graduates each year. Most of these graduates are technically inclined; around 30,000-50,000 of the graduates earn degrees in computer science. Many have degrees in marketing, communications, business administration and various other specialties. Since outsourcing to the Philippines has been on the rise for almost 20 years, many take courses specifically tuned for work for an outsourcing company. The rise in demand for such skills; you are also looking at roughly 4 million workers with experience working for foreign companies. Many MyOutDesk Virtual Assistants have backgrounds in the outsourcing industry, working in anything and everything from sales, collections, marketing, account management and tech support to name a few.
4. Long-term Opportunities – The local job market in the Philippines shows little opportunity. Given the number of graduates produced per year, and the average age being 22, foreign companies looking to hire in the Philippines will always find a high number of talented job-seekers also looking for long-term employment. MyOutDesk receives roughly 100-120 new applicants daily whose background varies. From fresh graduates, to those seeking a career change, MyOutDesk receives a full spectrum of applicants from different walks of life and yet only about 2% pass our stringent screening process. Because of the volume of applications, we are able to pluck the choicest talent, thus many of our virtual assistants end-up working with their clients for several years.
5. Cost Advantage – There is a huge cost advantage to outsourcing in the Philippines. The standard cost of living and standard wages are much lower than in the U.S. For example, consumer prices in the Philippines are 47.57% lower than that of the United States. Rent prices are 78.22% lower and the prices of groceries are 48.91% lower. Putting it in perspective, an inexpensive meal at an actual restaurant in the Philippines can cost as low as 150 PHP (about USD$3) and rent for a one bedroom apartment in a central business district area can go as low as 12,000 PHP (or about USD$240) and as low as 5,000 PHP (approximately USD$100) outside the central business district.
6. Strong Work Ethic – Filipinos have a worldwide reputation for having incredible work ethic. Those who work abroad have gained the reputation of being hardworking, dedicated and loyal employees. Working long hours without compromising productivity and quality is a standard expectation when outsourcing to the Philippines.
7. Higher Quality Infrastructure and Telecommunications – Compared to other popular outsourcing countries, the Philippines has more reliable infrastructure such as roads, power, water, and telecommunications. Internet connectivity and capability is strong and more consistent. MyOutdesk has a minimum speed requirement when it comes to our virtual professional’s internet Service Providers (ISP) and also requires a back-up ISP and power source to ensure that there are contingencies in place in the event of any power or internet failures or interruptions.
8. Strong Track Record – The Philippines has become one of the “Go-To” countries for many major US and Australian companies. They have looked to the Philippines to handle their outsourced customer service, call centers, and communications. Some of these companies include JP Morgan, Direct TV, EBay, Hewlett Packard, IBM, Fanny Mae, United Health Group, Hewlett-Packard and many more.
9. Time Differences Don’t Matter– MyOutDesk’s team of virtual assistants work from their own home offices. Matching your work schedule and holidays is easily implemented. In fact, this creates more flexibility in their schedules and can be adjusted to your convenience. Your outsourced professional virtual assistant will be online and available when you need them and they are accustomed to taking holidays on your schedule.
10.Stable and Growing Economy – The Philippines is an emerging market in Asia. Despite the global uncertainties over the years, the Philippines has been able to steadily foster economic growth. The Growth Domestic Product of the Philippines grows slowly and consistently, averaging at least 6.6 since 2012. With goals targeting more growth in the near future, this makes the Philippines a secure outsourcing choice.
11.Government Support – The Philippine government supports and welcomes offshoring and outsourcing businesses. The business process outsourcing industry (BPO), or offshoring, has been growing at a rate in excess of 25% each year for the past 10 years. This industry is now the second largest, by GDP contribution, in the country. Seeing that this is a great way to support their booming population, the government is supportive of these business opportunities.
When MyOutDesk was established 10 years ago, the founders discovered just how valuable the Filipino’s strengths could become to a business, coupled with its training and support to bolster the talent that already existed, they knew that the culture and the people would be instrumental in achieving MyOutDesk’s goal: to become an invaluable and indispensable member of their client’s business.
Currently having served over 5000 businesses, our virtual assistants are not only driven by the desire for success but provide their service with a heart, extending the MyOutDesk movement by helping their countrymen who are less fortunate with various outreach programs, moving to touch and empower other’s lives.
Reach out to us today and schedule a free business growth strategy session where we will connect you with of our specialists. In this session, we will help you figure out the areas in your business where you can delegate a virtual professional, giving you more time and giving you the freedom to take the steps to grow your business that only you can handle.