Why Outsource to the Philippines Amid the Great Resignation?
The following article discusses points on why the Philippine business process outsourcing industry has continued to grow amid the Great Resignation.
In 2021, more than 47 million workers quit their jobs. Known as “The Great Resignation”, this phenomenon greatly disrupted the labor market.
According to the Bureau of Labor Statistics, 4.3 million Americans also quit their jobs last December 2021, down from the record 4.5 million in November.
Despite the Great Resignation, the Philippines, a top global business process outsourcing destination, has continued to thrive.
The Thriving Digital Economy of the Philippines
The Philippine labor market saw a demand for digital remote jobs. Contractual, remote jobs collectively coined as the gig economy in the Philippines, as well as work-from-home jobs thrived during the pandemic.
A SEEK Asia study of over 5,000 local respondents reports that 52% of Filipinos had started working remotely before the pandemic. This number increased to 85% at the start of the COVID-19 pandemic. (CNN Philippines)
A 2020 Freelancing report by US-based payment platform Payoneer states that on the first half of 2020 the Philippines ranked first 1st among the fastest-growing gig-economy markets in the world with a year-on-year growth that tripled at 208% outranking India (160%), Japan (87%), Australia (86%), and Hong Kong (79%).
A Remote-ready Philippine Business Process Outsourcing Model
The adoption of digital transformation in business processes accelerated out of the need to provide quality services and enable business continuity at the onset of the pandemic. The integration of business process automation and cloud computing, and related concepts, were highly prioritized in Philippine business process outsourcing.
A survey commissioned by Epson in mid-2020 revealed that 55% of the small- and medium-sized enterprises (SMEs) in the Philippines reported being at the “very early stages of digital transformation”; and more than eight out of 10 (86%) identified digital technology adoption as the way to improve business processes, especially customer experience.
With a remote-ready work model, most of business services can be easily outsourced in the Philippines.
Even before the COVID-19 pandemic accelerated the need to adopt a digital-first work model, Connext Global Solutions has already established a remote-ready staffing model and has effectively provided talented virtual assistants to over 50+ satisfied clients. The company is uniquely positioned to take on projects effectively, regardless of size and scope. Clients can conduct cloud connectivity training sessions with their delegated team.
The visibility and control in the virtual captive model creates the confidence to outsource tasks to a remote virtual assistant or a remote team. Learn more on the Connext Virtual Captive Model here.
Connext Global Solutions helps expand your business offshore by hiring, training, and managing custom remote teams. Get started with Connext today.
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