While attrition rates may vary by industry sector, on the average call center agents in the Philippines tend to leave their jobs after only a year or so of employment. Some organizations have estimated the median number of months falling between 13 and 18 months.
A UK study found that finance workers are among the most stress in the world. According to respondents, stress levels will continue to rise in the banking and finance sector because of increased workloads, growing business expectations, and a lack of staff.
But this doesn't have to remain the status quo for long.
All these factors can be reduced through financial services outsourcing whereby a team of trained finance workers in a remote location can serve as an extension of regular staff. The outsourced team can work side-by-side with regular employees to ease the burden of a demanding job from their weary shoulders. At the same time, outsourcing can help you meet some business goals that include widening profit margins and improving productivity.
If you're thinking about outsourcing fintech support work to a service provider, you're not the only one. To help you decide which service provider to partner with, here are a few tips to consider.
For small businesses, recruitment can turn into an arduous and painful process. Aside from difficulties in finding qualified personnel, SMBs also had to deal with the rising costs of hiring new employees. There are times when hiring internally or relying on your in-house HR team seems like a great idea. There are also times when recruitment process outsourcing or RPO serves the company better than doing it traditionally.
Hiring a new employee could set back companies of any size around $4,129 on average, according to a 2016 report by the Society for Human Resource Management’s (SHRM). And, the recruitment process would normally take up to 42 days. No wonder many companies are turning to recruitment process outsourcing these days. Recruitment process outsourcing or RPO can benefit a company in many ways other than save costs. Here are seven of them that your company may want to consider.
Employees are just one side of the equation of what makes a business successful. The other side is held by customers, and in the case of outsourcing companies that practice fair trade principles, clients who share their beliefs in running a business.
Fair trade is widely associated with agriculture and cottage industries helping small-scale producers earn a fair income from their labors. While fair trade has helped a lot of farmers and craftspeople in many ways, its application in the call center industry has not been explored thoroughly before.
But, a quick but intensive search through the literature on human resources management has produced a good number of key benefits for both client and agents that can be attributed to the application of fair trade principles in call centers, and in the outsourcing industry in general.
Many ecommerce entrepreneurs have small-scale operations that do not require a huge workforce to run. With that said, they are also the kind of companies that have limited resources for expansion and will need help in handling the customer and tech support tasks.
When you have an ecommerce company, you're greatly dependent on technology to run your business. That dependence is a reason why ecommerce and outsourcing function together like cogs in a wheel wherein one cog cannot turn without another cog continuously nudging it in the right direction. Here are 4 reasons why ecommerce companies function better when they integrate outsourcing into their business strategy.
At the heart of the fair trade principles is the belief that trade can be a force of positive change in the world. In the outsourcing industry, a call center can become a force of economic and social good for the agents when employers integrate these fair trade principles into their corporate policies. Aside from affecting socioeconomic changes, a fair trade outsourcing strategy makes good business sense because of several reasons.
eCommerce may not be overtaking traditional retail sales soon, but it's growing by leaps and bounds, and the shift to omnichannel retail cannot be ignored or stopped. According to Bain and Company, "if historical trends continue, e-commerce’s share of retail will rise to about 28% of total sales in 2030", which means if you're in retail, then you will inevitably need to outsource to pump up your ecommerce operations.
When it comes to ecommerce outsourcing, the Philippines is a major destination for international businesses looking to hire experienced customer support staff. For these businesses, these are five important reasons why they chose to outsource their ecommerce support to the Philippines over other outsourcing destinations.