Is outsourcing good for the Philippines?
Outsourcing is also one of the most helpful industries that contributes to its growth.
Most Filipinos can now enjoy working in the Philippines through the outsourcing industry and choose the most suitable career for them which also give them a higher compensation than the average Philippine salary rate..
How does outsourcing affect the Philippine economy?
In the past decade itself, outsourcing to Philippines has seen a 30% growth as compared to the previous year and the future looks extremely promising as Deloitte predicted that Philippines may increase its share of the BPO pie to 20% of the entire global market generating more than $50 billion in revenue!
Why do companies outsource to Philippines?
Filipinos strive to produce quality work. … The difference in labour costs, benefits, and operational effectiveness between countries makes the Philippines a more appealing location to outsource and grow an offshore team. The good thing about outsourcing in the Philippines is that business owners pay LESS for MORE.
What do you think is the future of BPO in the Philippines?
Future for the BPO Industry in the Philippines In 2016, BPO in the Philippines continued to experience a positive growth rate. Activity in the industry appears to be robust enough such that the industry’s projected total income range would reach US$ 40 to 55 billion by 2020.
Is outsourcing good or bad?
It helps the global economy. … Basically, outsourcing is helping the US economy bounce back from the recession. A study from Harvard University have seen that “outsourcing likely to be beneficial to the United States as a whole” and “in the long run, outsourcing is likely to be a good thing for the U.S. economy”.
What is a disadvantage of outsourcing?
One of the biggest disadvantages of outsourcing is the risk of losing sensitive data and the loss of confidentiality. … If important functions are being outsourced, an organization is mightily dependent on the outsourcing provider. Risks such as bankruptcy and financial loss cannot be controlled.