How to choose your provider
Outsourcing can save you up to 70% on employment costs compared with hiring local staff. It also helps improve productivity, efficiency, staff retention rates and importantly, staff satisfaction. However, selecting the right outsourcing provider can really be the conduit to success.
Ideally you’re looking for a provider whose values align with those of your business, and also has experience in the financial services industry. Doing so will ensure your outsourcing journey is nothing short of successful.
How do you go about choosing the right outsourcing provider? Start by asking the right questions to drill down on how the provider operates so that you’re left with a thorough understanding of what they do and how they do it. Some of these questions may include:
- Can you detail your standard security policies and infrastructure to manage data, security and privacy?
- What tools do you have in place to ensure staff remain online and productive 100% of the time?
- What productivity reporting do you provide as a standard?
- How do you measure employee satisfaction?
- Do you have a customer onboarding process? If so, what is it?
It’s probably also worth getting familiar with the myths and truths of outsourcing for financial services to the Philippines.
This step is absolutely crucial in your outsourcing journey and requires careful consideration because not all outsourcing providers are the same. Each has different protocols, inclusions, facilities, T&Cs and contracts so be sure to analyse and compare their service offer, and go with the provider that resonates best with your organisation.