Outsourcing has made an incredible impact in today’s world, helping businesses cut down on labor costs and improve their operations. It has also vastly improved the lives of countless workers in the Philippines.
From a business owner’s perspective, outsourcing offers a range of benefits that include: increased efficiency (which can translate into an important competitive advantage), controlled costs (by releasing capital for investment in revenue-producing activities), increased reach (by providing access to world-class capabilities that might otherwise not be affordable), and an improved focus on core business activities. Ultimately, outsourcing should serve to make companies more flexible and agile, ready to meet the challenges of doing business in an increasingly technological and competitive world, while providing cost savings and service level improvements.
However, companies are not the only ones who reap the benefits of outsourcing. In the Philippines, not only has the BPO industry changed the country’s business landscape, but it has also affected the lives of many Filipinos in positive ways.
Outsourcing has generated millions of jobs for Filipinos. The Oxford Business Group calls outsourcing a “major economic pillar” and “one of the largest white-collar employers in the country.” As of 2017, the outsourcing industry has employed approximately 1.15 million Filipinos nationwide. Outsourcing has also created a number of opportunities for virtual staff from the Philippines who work from home.
The Philippines has one of the worst traffic situations in the world, with Metro Manila listed by the global firm Boston Consulting Group as having the third worst traffic in the Southeast Asian region. The same study also found that Filipinos spend a total of 16 days a year in traffic, amounting to a $2,663 annual loss in income opportunities. With more and more work-from-home opportunities, Filipino virtual employees are able to avoid the nightmare of daily traffic.
Filipinos who work from home are also better equipped to pursue a work-life balance. After a hard day’s work, they can easily interact with their family or engage in healthy and worthwhile activities with friends. Working from home gives these remote employees more time to relax and refresh their minds for the next workday.
The outsourcing industry is a strong economic contributor not just for businesses around the world, but for the Filipino workforce as well. And with more employers getting onboard the work-from-home bandwagon, not only will more Filipinos have the opportunity to build fulfilling careers in the comfort of their own residences; but companies will also be able to transform their business and their outsourced staff’s lives.