The current global services landscape is marked by countervailing trends. Firms are responding to intensifying cost-cutting imperatives by moving operations offshore specifically, in the Philippines.
The risk of recession rises with each passing month. Companies anticipate how to seize opportunities during recessions and are more likely to capture outsize gains even after it.
Here’s how outsourcing Philippines can help your company during the recession:
Lower Labor Cost
Labor costs can consume a massive chunk of an organization’s budget. As a result, some companies consider reducing wages during a recession to balance profit and losses.
Thus, many businesses consider moving to top offshoring destinations like the Philippines. The Philippines has lower labor cost compared to Western countries. It is significantly more economical and highly effective, and functional teams operate it. Your business can save up to 50% to 80% on labor costs, and you can use these savings to focus on other critical aspects of the company.
Highly Skilled and Experienced Talent
Offshoring is a proven strategy to solve the local talent shortage. With an expert offshoring partner, you can source highly skilled and experienced resources for any given role in Customer Service & Sales, Digital Marketing, eCommerce Support, Finance & Back Office, and IT & Software Development. You can expand your capability and capacity with industry-experienced offshore talent who can seamlessly integrate with your local team.
With offshoring, you have control over the daily management, productivity, and output quality of your team. It also makes it easier for you to scale your team based on business needs and sales seasonality.
Aside from salaries, you can also save from lower costs of Medicare taxes, Social Security benefits, health insurance, and workers’ compensation in offshoring countries.
Providing full benefits for your offshore team at a lower cost will not only save you a considerable amount. It will also motivate them to do their best because they will feel valued.
Cost of utilities, infrastructure, and materials are also lower in developing countries like the Philippines, allowing you to operate normally even during a recession. You will not worry about your financials, or you can easily recover because you can maximize all of your business needs.
Tax Benefits and Financial Incentives
Many offshoring destinations, such as the Philippines, offer tax holidays, monetary incentives, and fewer business regulations to attract foreign direct investments and stimulate industry growth. The tax holidays and financial incentives make it more affordable to offshore their company.
Companies can cover time zones 24/7 through offshoring. Since your night is their day, your partner can continue working on your behalf. You can complete essential tasks and increase overall productivity. 24/7 operations also mean an opportunity to grow network and sales.
There’s no doubt that offshoring can extend full benefits during a recession. And if you are looking for outsourcing solutions Philippines, having an offshoring partner is necessary. You will save time, money, and energy from the hiring process to set up your offshore branch.
Satellite Office is your expert offshoring partner
Satellite Office has a proven track record of assisting businesses to leverage the benefits of outsourcing by building them a dedicated, highly skilled, and cost-efficient offshore team in the Philippines.
Our tailored offshore outsourcing solutions give businesses full control of their remote team’s productivity, output quality, and targets, while we provide comprehensive support that makes managing offshore employees as simple as possible. Experience a full-service model, including premium facilities, HR, IT infrastructure, account management, and payroll support services, with no hidden fees.
Looking for an offshore support service partner? Get a free assessment now, and let’s see how we can help.