The U.S. labor market remains as strong as ever despite rising inflation rates. In this current economy, job seekers are in the driver’s seat, with an abundance of career opportunities available at their fingertips. However, business leaders and hiring managers may not be as lucky.
According to the latest Upwork Future Workforce Report, a majority of hiring managers (60%) say they are having trouble finding qualified candidates to fill open positions. Some job categories are also more in-demand than others. The job functions hiring managers need to fill most urgently include:
- Accounting: 33%
- IT and Networking: 30%
- Customer Support: 27%
- HR: 25%
- Admin Support: 18%
- Web, Mobile, Software Development: 14%
- Data Science and Engineering: 11%
- Writing and Content: 4%
As U.S. companies continue grappling with the labor shortage, some have decided to find more out-of-the-box ways to fill in their labor gaps. One particularly effective strategic choice for businesses struggling to find qualified talent is outsourcing to the Philippines.
This article will look closely at hiring managers’ top in-demand job categories and discuss how outsourcing to the Philippines can benefit U.S. companies. Let’s dive in!
Top 8 In-Demand Job Categories Businesses Can Outsource to the Philippines
Accounting is one of the sectors most affected by the labor shortage. The number of accounting graduates has been decreasing since the 2019-to-2020 academic year in the U.S., with 2.8% fewer graduates at the bachelor’s level and 8.4% fewer graduates at the master’s level.
In addition, among those who graduated with an accounting degree, only a few pursue a CPA certification.
Accountants are vital to any business because they are responsible for keeping track of and managing an organization’s finances. So, what can companies do to address the accounting shortage? One effective solution is to opt for accounting outsourcing in the Philippines.
The Philippines is home to several premier universities that produce knowledgeable and highly qualified accounting professionals. Some of the accounting tasks businesses commonly outsource to the Philippines include:
- Accounts Receivable/Accounts Payable Management
- Bookkeeping Services
- Tax Reporting and Filing
- Drafting Financial Statements
- Controller Services
- Financial Planning and Analysis
- Cost Accounting
- Forensic Accounting
2. IT and Networking
The tech industry is another sector facing talent shortages in the currently tight U.S. labor market. According to a recent Gartner report, 64% of IT executives say that the shortage of skilled IT workers is their most significant barrier to adopting emerging technologies.
Since the pandemic accelerated the need for digitalization, many tech companies have faced a sudden increase in consumer demand. The problem is that there aren’t enough IT professionals to meet this rapid and unexpected growth.
Thankfully, outsourcing to the Philippines can be an ideal strategy for tech businesses looking to expand their capabilities and keep pace with their growing consumer base. IT outsourcing allows companies to access top-of-the-line technologies and partner with highly trained and skilled professionals without breaking the bank.
3. Customer Support
During the pandemic, people couldn’t leave their homes and talk to customer service representatives in person. As such, consumers had to rely on phone and online customer support, leading to a sudden increase in workload for call center workers.
In a 2021 study of call center leaders, 70% said that their customer support agents dealt with a deluge of more emotionally charged customers. Since people were talking on the phone longer, customer service call wait times tripled.
Longer hold time caused many agents to feel stressed and burned out, resulting in higher resignation rates and widespread staff shortages. Many businesses have turned to customer service outsourcing to the Philippines to address this worker shortage.
The country is recognized as the “call center outsourcing capital of the world” for many good reasons. For one, Filipinos have a 91.6% literacy rate, with English being one of the country’s official languages. The Philippines also has close cultural and economic ties with the United States, which makes it easier for Filipino call center workers to empathize with and understand American customers’ needs and wants.
Read More: 10 Reasons Why US Companies Outsource Customer Service to the Philippines
4. HR and Recruitment
Here’s an ironic statement: The people in charge of recruiting new workers for different industries also struggle with staffing problems. According to a recent survey of H.R. leaders, 1 in 4 respondents find filling open positions for recruiters in their team challenging. Additionally, given how tight the labor market has been in the past years, only 14% of surveyed HR leaders were able to meet all of their hiring goals in 2021.
For businesses struggling to find new recruiters, opting for recruitment process outsourcing can be a strategic advantage. Through RPO, companies can build their ideal workforce in the most productive and cost-efficient manner possible, all while accessing and leveraging the expertise of experienced recruitment professionals.
5. Administrative Support
Almost all industries require administrative support, such as executive assistants, receptionists, secretaries, or data entry personnel. Without these crucial support roles, many businesses may struggle to keep their operations organized and efficient.
So, what can companies do when they can’t find enough workers for their essential admin support roles? For many businesses, back-office support outsourcing can be the ideal solution.
Back-office support solutions are the lifeblood of an organization, helping drive all business departments toward optimum productivity. Outsourcing virtual executive assistants and other back-office solutions can boost your company’s productivity and efficiency while reducing your existing employees’ workload and stress.
6. Web, Mobile, and Software Development
In previous sections, we’ve discussed how tech companies struggle to fill open IT worker roles, and software developers are currently among the most in-demand tech jobs. A 2022 CoderPad survey found that nearly half of all tech recruiters face difficulty hiring software developers.
Since software development is a highly specialized and niche field, it’s no wonder why businesses are having a hard time finding the right talents. Not only are there not enough software developers, but those who are available often lack the training and skills needed for specific software frameworks.
Thankfully, software development outsourcing is a way for tech companies to expand their programming and development capabilities despite the talent shortage. This solution allows businesses to work with skilled programmers and developers from around the globe, accessing their expertise and technologies without worrying about the time-consuming and expensive hiring and training process.
7. Data Science
More and more businesses are discovering the benefits of utilizing data in their decision-making and planning processes. However, the main barrier preventing them from fully taking advantage of data is the shortage of data scientists and analysts.
According to the Upwork Future Workforce Report, 60% of hiring managers have the most difficulty filling Data Science and Analytics positions. The need for data scientists seems to be steadily growing, but the supply has yet to keep pace with the demand.
Industry insiders predict that the data science shortage will be addressed as data science education and technology becomes more accessible in the coming years. In the meantime, companies that have yet to find suitable full-time data scientists can opt to outsource to the Philippines.
The Philippines is primarily known for its call center outsourcing industry. However, it is also quickly becoming a prime destination for knowledge process outsourcing solutions like data science. Filipino data scientists are highly trained to extract actionable insights from raw data and create detailed reports that help businesses make intelligent and confident decisions.
Read More: Complete Guide to Data Science Outsourcing and Why Your Business Needs It
8. Writing and Content
Content marketing has become crucial for helping businesses reach customers online and stand out from the competition in today’s increasingly digitized global market. Studies have found that 73% of companies that invest in content are successful in their marketing efforts.
Because content marketing has become so in demand, many businesses are now struggling to find enough qualified content writers to take on their various marketing campaigns. As search engines like Google update their algorithms to prioritize high-quality, valuable content over run-of-the-mill pieces, it is even more important now to find content marketers who know how to create compelling and original articles.
If you’re having trouble securing talented writers for your next digital marketing campaign, one strategy is outsourcing content marketing to the Philippines. With the right outsourcing partner, you can leverage the power of words to build a more substantial online presence for your brand and captivate the attention of your target audience with ease.
Looking to Outsource to the Philippines? Partner With a Reliable BPO Provider
No matter the specific job functions you need, the right outsourcing partner can help you expand your capabilities and maximize every growth opportunity for your business. At SuperStaff, we are dedicated to helping companies do just that.
Through our full range of outsourcing services, we equip companies of all industries with a high-performing and skilled workforce that fits their particular business needs and goals. Our solutions are customizable and scalable, allowing you to upgrade or downsize your operations depending on changing market conditions or shifting consumer demands.
Whether you need data science outsourcing services or virtual executive assistants, you can count on us to deliver a strategy that will accommodate your most pressing needs. Contact us for more information.