Filipinos Leading the Global Workforce
The pool of global workforce has begun emerging since late 1970s in the wake of globalization. This was brought about by economic factors that in turn, has driven the demand of multinational corporations for more human capital. This means that companies around the globe innovated so that they can take part in the following industries: cross-border movement, trading of goods, technology, and financial services.
These opportunities paved the way for many highly skilled and professional Filipinos to further hone their skills after the shift in economic development accompanied by industrialization across the world. As industrialization took hold worldwide and more cultures veered from traditional practices, in respect to work and labor, the way employers think about and use labor enabled Filipinos to step into the global workforce community.
Over the years, the Philippines' economic development has continued to progress rapidly making the country one of the fastest growing economies in Southeast Asia. Because of this development, many multinational companies from different industries are setting up their offices in the Philippines.
Demand for Global Skills
The global labor reservoir almost doubled in absolute numbers between the 1980s and early 2000s with half of that growth coming from the Asian region. The Filipino workforce took advantage of the opportunity to learn new skills that will eventually be in high demand. These skills are namely in the fields of engineering, nursing, medical, finance and accounting, information technology, construction and skills pertaining to it, property development, retail services and management, shipping, hospitality, and customer service.
The growing pool of workers in the Philippines and the ASEAN region has become appealing to employers in more advanced economies. They look at the growth in personnel as cost-effective workers for services such as importing of goods, offshoring of services, and production.
The Philippines Is the Preferred Offshore & Outsourcing Destination in the World
Starting about two decades ago, the Philippines captured the interest of the global business community when outsourcing became a strategy for many global business players. In 2011, the Philippines surpassed India in the voice or contact center industry. Today, it remains the top service provider in the voice segment with highly talented full-time employees.
The Philippines has a population of about 100 million citizens, the majority of which are young and able to contribute to the growing workforce. In 2014, more than one million Filipinos were working in the BPO industry, which makes up only 1% of the total production. The total production was projected to increase exponentially in 2016, where 1.3 to 1.5 million jobs were expected to be generated, contributing to 17% in annual growth.
While the Philippines is recognized as the contact center capital of the world, it has started building its strong base of human resources supporting various back office work including but not limited to finance and accounting, human resources, information technology, healthcare management, engineering, and supply chain.
The global business community has recognized the Philippines as a top outsourcing destination for the following reasons:
1) Value added service which is cost-efficient
2) Impeccable level of customer service
3) A deep pool of easily trainable talent.
These factors along with a supportive political and business climate create the perfect environment for the country to continue its domination as the BPO especially in the contact center for many countries.
The Philippines' competitiveness as an outsourcing hub is also reflected in its rankings in different IT-BPO and global in-house center (GIC) functions. Metro Manila is among the established outsourcing cities in the contact center, finance and accounting, legal services, and human resource services.
The country has a prestigious client base, among them shared service centers or captives of Fortune 1000 companies such as JP Morgan Chase, HSBC, Procter & Gamble, Nestle, Johnson & Johnson, Microsoft, Shell, Google, Telstra, Lufthansa, and Hewlett-Packards services. Philippine BPO firms serve a range of key industries such as banking and financial services, manufacturing, distribution, retail, healthcare, telecommunications, travel, energy, and media.
Call to Balikbayans
Now that we have both the global talents as well as the global business landscape to continue to grow progressively, it is about time for the global Filipino workforce to return to the Philippines and work for our country. This call to return to the motherland is all about being a truly nationalistic Filipino who loves their inang bayan (motherland).
There’s a high demand for competent workers in the following industries: nursing and medical science, information technology and science, banking and financial services, engineering and architecture, hospitality, travel and service, human resources, logistics, and supply chain. Given this opportunity, any Filipino talent can work in the Philippines while serving the world.
Now is the time to consider returning to the Philippines, and experience global opportunities available. You may contact Asia Select, Inc. by visiting our website www.asiaselect.ph to find out what opportunities are currently available to you.