These are difficult times. By some estimates, the UK economy is operating at less than 70% of its capacity. GDP growth for the fourth quarter of 2020 is expected to be the lowest in recorded history. As the country heads into another lockdown, the question is now turning to how much longer these restrictions can last for. The economic consequences of the coronavirus are already bad, but they could be catastrophic.
The Office for Budget Responsibility (OBR) warned that the economy could shrink by 35%; the IMF forecasts a UK decrease in GDP for 2020 of 6.5%. Only time will tell if these forecasts are too optimistic or not.
For businesses operating in the UK, it is not helpful to dwell for too long about just how bad the economic crisis from Covid-19 might be. Business leaders need to take action now to ensure that their companies are still operating for when the economy does reopen and starts to grow again.
“The coronavirus has created a large pressure for companies to find ways to lower operating costs, improve operating efficiencies, and enhance customer experience. These were important in the pre-pandemic economic climate, but they are imperative now. Those firms that are too slow to adapt to the new world and to the new ways in which business operates will be left behind,” says Ralf Ellspermann, CEO of PITON-Global, an award-winning call centre in the Philippines.
“For most companies, labour costs are the highest expense on their income statement. Trying to manage this cost component can be challenging, especially in the UK where employee wages can be high across a whole range of different functions and roles. In order to overcome this challenge of reducing these costs, offshore call centre outsourcing to the Philippines is a proven and time-tested solution,” he adds.
Why the Philippines? Well, over the last two decades, the Philippines has established itself as the call centre outsourcing capital of the world. There are many reasons why the country has become the undisputed number one in this industry. For one, their labour costs are on average 60% lower than their British counterparts. Importantly, the workforce is just as skilled as in the UK; there is a large pool of highly qualified and experienced call centre agents that are working for a number of different firms.
Filipinos are also well renowned for their fluency in English and have a close cultural affinity with Western countries. The low-cost, highly-skilled workforce is reinforced by excellent infrastructure and ultra-modern as well as secure call centre facilities.
The success of the Philippines in attracting international businesses is evidenced by the fact that large companies such as HSBC have all shifted parts of their call centre and back-office operations there.
Of course, not all the call centres operating in Manila are created equal, and it is important to choose the right one. The key to success is finding and partnering with a capable and experienced call centre outsourcing provider in the Philippines.
If you are a business owner in the UK and trying to find ways to stay afloat during these challenging times, then reaching out to an award-winning call centre outsourcing provider such as PITON-Global in the Philippines could be the first step on your path to overcoming the challenges of Covid-19.