European Companies Favor the Philippines for Outsourcing
The Philippines’ skilled and young workforce has caught the eye of European companies who want to outsource.
Whenever there’s talk of the top outsourcing destinations, you can bet the Philippines to be in it. It’s not by chance or by accident that this is so, it’s because companies all over the world are realizing the benefits of outsourcing to the Philippines.
Take for example companies from Europe. As global competition continues to rise, European companies are more open to outsourcing as a valid means of cost reduction, particularly with IT and business processes. Bo Lundqvist, president of The Nordic Chamber of Commerce, considers the Philippines as an “outsourcing destination” for information technology, accounting and graphic design jobs.
Franz Jessen, EU ambassador to the Philippines and EU-Philippines Business Network committee chair said the country can benefit from technology transfers as European firms hire local workers and establish operations here. He also mentioned that Europe focuses mainly on technology because it lacks a young workforce.
However, skills need to be upgraded to meet demand. European Chamber of Commerce of the Philippines president Guenter Taus cited Austria as example, wherein the government offers graduates free courses to give them skills that meet job demand.
This can be a wake up call to the Philippine government to do the same. As for the Filipino workforce, rather than resting on their laurels, they must strive to be better by acquiring new skills, ensuring they can step up to the challenge of the business world.
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