The State of Labor in the US
In 2021, over 47 million workers in the US quit their jobs in what was dubbed as “The Great Resignation”. With the disruption caused by the pandemic, more and more workers, especially mid-career employees, are in search of improved work-life balance, greater work flexibility, better compensation, and stronger company engagement. But what really happened after The Great Resignation?
Taking a closer look at the state of the labor force in the US shows that The Great Resignation may be better called “The Great Reshuffle” because as resignations rose in numbers, the hiring rate in America has also shot up since November of 2020 to keep up with the pace of employee exits. While many of America’s labor force left their jobs, these workers have also been busy getting hired elsewhere.
With staff resigning left and right, new challenges have come up: recruitment and labor costs. If your business was one of the many affected by The Great Resignation/Reshuffle, you may be all too familiar with how much harder it has become to find great staff with the specific skills that your business needs these days – not to mention the rising labor costs that re-hiring and covering for vacant positions entail!
As a decision-maker, we’re sure you’d want to protect your business from these market and labor volatilities. A huge market opportunity in offshoring has seen an increase in the past years as more businesses outsource their employees outside of the country. The only question is, which country should you invest your time and effort to maximize your return of investment.
5 Good Reasons Why the Philippines is the Best Destination for Offshore
The Philippines Department of Trade and Industry (DTI) defines BPO as the “delegation of service-type business processes to a third-party service provider.” BPO in the Philippines continued to increase its positive growth rate and appears to be robust enough that the industry’s projected outsourcing market will grow by USD 40.16 Billion (at a CAGR of over 4%) during 2021-2025 amidst the pandemic. The Philippines has still remained the go-to location compared to India, Malaysia, and Brazil. The majority of international research and data companies have placed the Philippines as the top outsourcing destination in the world. Here are the top reasons why you should outsource your labor in the Philippines:
- High-level English Proficiency
The Philippines is rated one of the top English-speaking countries in the world with over 100M English proficient Filipinos. - 24/7 Service and Support
The majority of outsourcing companies in the Philippines, including Sourcefit, offer same-time office hours and support as the client. We work according to your timezone and requirements, whatever it may be. - Cost-Efficient Labor Costs
Save 60% to 80% of operational costs by outsourcing in the Philippines. The Filipino workforce’s daily salary can go as low as the hourly rate of their counterparts in western countries due to the lower cost of living in the country. - Cultural Match
Filipinos adapt to foreign culture easily – especially to western culture that is still deeply intertwined with every Filipinos’ everyday life. Add to that the fact that hospitality is a value ingrained in every Filipino which makes working with professionals from the Philippines smooth and easy. - Strong Government Support
The Philippine government offers entitlement to multiple incentives to support companies in the BPO industry such as tax days, simplified import and export procedures, the Special Economic Zone Act, and the Philippine Economic Zone Authority or PEZA. In addition, the Philippine government provides fiscal and non-fiscal benefits (like a 4-year and 8-year income tax holiday) and has built the IT-BPM Roadmap for 2022 which aims to develop over 1.8 million more jobs for Filipinos with a target revenue of $40 billion by the end of the year.
See how SOURCEFIT PHILIPPINES, an American-managed outsourcing company in the Philippines, can help you with your labor shortages. We are committed to working closely with clients every step of the way to understand their goals and seamlessly transfer their business culture and successful business processes to an offshore environment.
OFFSHORE IN THE PHILIPPINES
GET FLEXIBLE LOW COST SOLUTIONS FOR SMALL AND MEDIUM-SIZED BUSINESS WITH SOURCEFIT
![10 years experience - Sourcefit - Sourcefit](https://sourcefit.com/wp-content/uploads/2022/02/10-years-experience-150x150.png)
![grow your team - Sourcefit - Sourcefit](https://sourcefit.com/wp-content/uploads/2022/02/grow-your-team-150x150.png)
![puzzle - Sourcefit - Sourcefit](https://sourcefit.com/wp-content/uploads/2022/02/puzzle-150x150.png)
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![ian from focus shopfit](https://sourcefit.com/wp-content/themes/sourcefit/assets/img/Ian_242x242.jpg)
Our industry is extremely competitive and outsourcing has been an important part of our strategy to lower costs and boost service levels. Sourcefit has provided excellent staff and helped us to integrate them with our local team and our overall process. We’ve been extremely happy with our decision to work with them.
![jared from hawaii dialogix telecom](https://sourcefit.com/wp-content/themes/sourcefit/assets/img/img-client.png)
![Alex](https://sourcefit.com/wp-content/themes/sourcefit/assets/img/Alex_242x242.jpg)
![Mckenzie from Solo](https://sourcefit.com/wp-content/themes/sourcefit/assets/img/McKenzie_242x242.jpg)
Features and Benefits
- Technology: Redundancy, Reliability and Results
- Hiring: Hiring for Attitude and Training for Technology
- Efficiency/Productivity: Customized Metrics
- Accountability: Close Monitoring, Careful Management
- Customer Experience: Planning and Implementation
- Employee Satisfaction: Focus on Retention Quality
- Quality Assurance: Constant Monitoring and Improvement
- Client Integration: Applying Core Metrics to Client Vision
- Flexibility: From One Agent to 100
- No Capital Investment Required
- Speed to Market
- Easily Cover 24-7
- Focus on Core Business
- Access to Best Practices
Pricing
Entry level
(Staff Leasing)
$8.00 / hour
(Small Projects)
Mid level
(Staff Leasing)
$9.00 / hour
(Small Projects)
Expert level
(Staff Leasing)
$12.00 / hour
(Small Projects)
About Us
About Us
Why the Philippines
- Lower Costs
- Highly Educated, English-Speaking Workforce
- Cultural Affinity – Similar Design Sense – International Outlook
- Stable Economy
![philippines location blue - Sourcefit - Sourcefit](https://sourcefit.com/wp-content/uploads/2022/02/philippines-location-blue-1024x1024.png)
Sourcefit Infrastracture and security
Eastwood Cyberpark,
1110 Bagumbayan, Quezon City
Metro Manila, Philippines
Philippines: +63 2 84702484
U.S. Toll Free: +1 888 433 8801
UK/Europe: +44 203 318 9847
Australia: +61 863 652 831
COPYRIGHT @ 2022, SOURCEFIT. ALL RIGHTS RESERVED.
Contacts
- [email protected]
-
- U.S./International: +1 808 377 4547
- Philippines: +63 2 84702484
- U.S. Toll Free: +1 888 433 8801
- UK/Europe: +44 203 318 9847
- Australia: +61 863 652 831
- South Africa: +27 647 378 500
- Dominican Rep: +1 809 834 5885
- Armenia: +374 41 350053
- Madagascar: +261 342 615 087
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19th Floor Exxa Tower,
Bridgetowne IT Park,
Ugong Norte, C5 Road,
Quezon City, 1110,
Metro Manila, Philippines -
1888 Kalakaua Ave. Suite C312,
Honolulu, HI 96815
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114 Westbourne Studios
242 Acklam Road London W105JJ
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14 Parkes St,
Manly Vale, 2093, NSW
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Hamilton House, 30 Chiappini Street,
De Waterkant, Cape Town, 8001
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Calle Porfirio Herrera 29
Evaristo Morales, Santo Domingo
Distrito Nacional, Rep Dom.
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Formula Hub Business Center,
65/5 Halabyan Street, 0078,
Yerevan, Armenia.
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Madagascar LOT II M 92,
Antsakaviro Antananarivo 101
Copyright @ 2024, SOURCEFIT. All rights reserved.