When done correctly offshoring can be a good way to improve the efficiency of a business and to access new talents at more affordable cost. The Philippines due to its confluence of cultures has some non-negligible benefits. Here are some good reasons why your tech startup can benefit from building an offshore development team composed of highly skilled Filipinos.
The Philippine virtual workforce is teeming with highly competitive and talented individuals, which is why it is a favorite outsourcing destination among small and medium-sized businesses and even big multinational giants.
Culturally the Philippines can claim to be much closer to the US, Europe or Australia than any other place in Asia due to the strong cultural influence of the 333 years of Spanish and nearly 50 years of US 'presence'. From language to the way of life and even humor there is a lot that translates naturally between western and Filipino culture making it that much easier to share ideas and work together.
And since English is one of the official languages in the country as well as the language of education and business you can expect all Filipinos to be very proficient. More than 90% of the population can speak it fluently so communication is never an issue.
Filipinos like to work for multinational companies and do not require much – if any – adjustment to international processes.
In HSBC’s survey titled “Expat Explorer Survey 2011,” the Philippines ranked as the 8th friendliest nation in the world. Expatriates who have worked in the Philippines for a long time can attest to the unique Filipino working culture, in which the Pinoys’ hospitable nature shines through.
Filipinos are also enthusiastic and goal oriented, making them wonderful additions to any group. They are passionate about their work and not afraid of challenges.
The literacy and higher education rates in the Philippines are high as the government’s budget allocations for education and health have always been strong since the independence. Each and every year there are thousands of Filipino college graduates in the technology, administrative, marketing and IT-related fields and this pipeline of talent presents a huge opportunity for businesses looking to outsource without sacrificing quality.
Based on official projection, the country’s working-age population (between 15 and 64 years old) this year accounts for 66.6 percent of the total population of 101.6 million.
This opens a very large talent pool that is available and willing to work.
The Philippines has always been a digitally savvy country and early adopters of new communication medium.
Outsourcing can be a good way for businesses to save money. It's no secret that talents from developing countries such as the Philippines tend to have lower rates compared to those from the United States or Western Europe.
As one of the world’s foremost destinations for business outsourcing, BPOs are a serious business in the Philippines. This means that many Filipinos are already employed as full-time workers in BPOs or work as freelancers, making them already familiar with this type of arrangement. Since a lot of Filipinos have had previous work experience in BPO firms, they know how to adjust their time to fit with their clients’ schedule, treat with foreign clienteles, and meet deadlines that span different time zones.