Entrepreneurs on Fire
In this episode, Outsource Accelerator CEO Derek Gallimore is featured on Entrepreneurs on Fire, a highly-acclaimed podcast show hosted by John Lee Dumas.
Hear Derek and John discuss offshore staffing, global employment, and how outsourcing presents its benefits to the world.
In this episode, Outsource Accelerator CEO Derek Gallimore is featured in the award-winning podcast, Entrepreneurs on Fire podcast hosted by John Lee Dumas.
Derek and John talk about offshore staffing, global employment, and how businesses can benefit from the opportunities that it presents.
What the future of work looks like
Derek points out that 30 years ago, the world was anxious about the paperless office. Now that the advancement of technology is continuously growing, he says that we can see some kind of “trajectory” when it comes to the future of work.
Per Derek, the future of work is digital. Almost anything is done digitally or online, especially in the workforce. Today businesses have shifted to remote work, where the concept of work has dramatically changed.
There is an “extension in global” outreach. As the world is moving towards in “single global economy,” it is also now going towards a “single global workforce.”
Derek’s Insight about labor shortages and employment costs
The COVID-19 pandemic has majorly impacted the global workforce. With these two tough years, businesses faced “great resignation.” With this, labor and skills shortages and increasing employment costs have worsened.
However, businesses can see this phenomenon as a door of opportunity for business success. Derek says that businesses that are connected digitally can “tap the global workforce” to access the talent of professionals, which offers a 70% discount.
Philippines: The mecca of Global outsourcing
John mentioned the massive discount of almost 70% on staffing through outsourcing. Some employers have concerns and might see this as unfair.
However, Derek pointed out that “the vast majority of the world has lower salaries” than the US. He highlighted the cost of living in several countries that cater to outsourcing is significantly lower than in the US.
He further explains that the Philippines, a “mecca of global outsourcing,” has an average salary of 500 US to 1,000 USD per month. These professionals are part of various fields such as administrative, IT, marketing, and entry-level accounting jobs.
It is definitely a significant win-win for both employers and this talent pool of professionals. Derek indicates that this will be a “great opportunity for them” as these professionals are “eager to build [their] career.”
John can relate to this, and he shares his experience hiring a Filipino nurse desperate to get out of her 12 hours shift daily. He added that this kind of employment is “something that’s important to be looking at from that perspective” when it comes to opportunities in outsourcing.
Outsourcing as the most powerful tool in business
Per Derek, businesses are nothing without their people. For him, it is the “most critical aspect of any business.” They are capable people such as developers, engineers, marketers, content writers, and more.
As businesses are now more reliant on professional staff, it can help build and drive the company moves forward.
Derek reiterates that by outsourcing, one can have access to the “abundant pool of talent with a significant discount,” which consists of “highly capable and highly qualified staff”.
The offshore staffing becomes extremely powerful and extremely exciting, as described by Derek. This will be an advantage for a business owner who seeks “business growth, expansion, and innovation.”
What does the future hold now in Outsourcing
Over the years, there has been a buzzword going around in outsourcing. People often associate this with virtual assistants, offshoring, onshoring, and many more.
Per Derek, the only thing to understand about outsourcing is basically “traditional employment” or “standard employment.” What is changing is that there is a technological advancement in it.
Derek describes the outsourcing industry as a “sleeping giant”; it’s been going around for about 30 years. He indicates that some outsourcing firms cater outstanding solutions and services, especially to small and medium-sized businesses.
He says that outsourcing is the “most powerful business tool” which has access to small and medium-sized businesses across the globe.
Derek says it is an “absolute game changer” for businesses having access to outsourcing. He predicts that it’ll become “ubiquitous and default” over time, and companies are going to have a “complete inversion of the norms of employment and sourcing style” over the next ten years.
Check out John Lee Dumas’s podcast Entrepreneur on Fire at https://www.eofire.com/podcast/.