Can the Philippines become the new regional center for MNCs?
Monday, August 16th, 2010
Multinational corporations have located shared services facilities in the Philippines for three reasons, according to a recent study conducted by the Business Processing Association of the Philippines (BPAP) and Hewitt Associates. The number one reason is the talent profile, as survey after survey on the business process outsourcing (BPO) industry tells us. People are at the core of the Philippines’ success.
Incidentally, shared services is a subset of the BPO industry, although many of these firms prefer not to be lumped into the BPO category. Instead, they emphasize that their staff located in the Philippines are an extension of their head offices, noting that employees work directly for the company in full-time positions. They typically report to executives based not in the Philippines but in their world headquarters—except in cases in which global executives live and work in the Philippines.
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