Outsourcing your payroll function to an outsourcing firm or remote staffing provider in the Philippines can offer you several advantages over having it done in-house.
The Philippine outsourcing industry has been growing at an annual growth rate of 20% since the 1990s. The outsourcing and payroll processes outsourcing (BPO) sector alone accounts for 7% of the country's GDP or $13 billion as of 2012.
Companies outsourcing their services to the Philippines benefit from a vast pool of highly educated and talented employees, low operating costs and attractive tax incentives which help to lower overall business expenditure and increase profit margins (Compal). Outsourcing in the Philippines is therefore an effective way to outsource your payroll process that delivers substantial cost savings and other benefits over traditional staffing practices.
In this article, we’re going to talk about the advantages of hiring remote staff in the Philippines and the advantages of offshoring to the Philippines as well.