Outsourcing Jobs to the Philippines May Fill Vermont’s Severe Developer and Accountant Talent Shortages

The ongoing battle for talent continues as the labor market in the US grapples with severe shortages across all industries. The labor gap is fuelled further by market challenges such as staff churn, escalating inflation rates, and the emerging trend of “Quiet Quitting.” 

Businesses nationwide face the daunting task of finding candidates for millions of vacant positions. Among the states grappling with this issue, Vermont stands out as one facing the brunt of the workforce shortage. Despite the labor crisis in the state, however, businesses can explore a cost-efficient strategy that has proven effective for countless others: outsourcing jobs to the Philippines.

Vermont, known for its scenic natural beauty, faces a unique challenge — a significant labor shortage in a thriving job market. Data from the US Chamber of Commerce showed that the state has only 44 people for every 100 openings.

Several factors continue to fuel the shortage. One primary factor is the state’s low unemployment rate, currently the fifth-lowest in the country at 2.1%. 

While a low unemployment rate signifies a strong job market, it also means that there are fewer individuals actively seeking employment, exacerbating the labor shortage. The pandemic has also played a role in the labor shortage, with Vermont’s unemployment rate reaching its peak during the pandemic shutdown in July 2020. 

Addressing this challenge requires innovative approaches, and one potential solution worth exploring is offshoring certain operations to the Philippines. 

Let’s explore how outsourcing to the Philippines, a top outsourcing destination, can help alleviate Vermont’s staffing crisis.

4 In-Demand Jobs That Outsourcing Can Help Fill

Drawing from our research on the most sought-after job positions in Vermont, we have identified four areas where Philippine outsourcing can play a pivotal role in addressing labor gaps.

Programming and Software Development

The heart of the digital revolution lies in software development. 

As technology advances rapidly, the demand for software engineers has skyrocketed. According to the US Bureau of Labor Statistics, job opportunities in software development are projected to increase by a staggering 25% between 2021 and 2031 – driven by the growing need for skilled professionals to design, create, and maintain the software that powers our modern world.

Software development plays a critical role in creating and powering these innovations, from smartphones and IoT gadgets to virtual and augmented reality applications, cryptocurrencies, and everything in between. As a result, there is a significant demand for talented software engineers who can meet the evolving needs of businesses and consumers.

However, finding qualified software engineers in a tight market like Vermont’s is not an easy task. The specialized nature of software development makes it challenging to hire talent. The traditional recruitment process often involves a lot of expenses, time, and valuable resources, from advertising openings to onboarding new hires. 

Thankfully, outsourcing software development to the Philippines has emerged as a viable solution for companies facing these challenges. By working with BPO companies, businesses can tap into a pool of skilled developers in the Philippines with a comparative cost advantage. 

Computer Support Specialists

In the fast-evolving digital era, more businesses rely on computer systems to carry out their daily operations. 

This growing reliance on technology has led to a significant spike in the demand for computer support specialists who can provide technical assistance and troubleshooting services. However, amid the surge in demand, the supply of qualified computer support specialists is struggling to keep pace. 

Data from the US Bureau of Labor Statistics shows that the overall employment of computer support specialists is projected to grow by 6% from 2021 to 2031. Additionally, it is estimated that approximately 75,000 openings for computer support specialists will arise each year, on average, over the next decade – with resignations and retirement choking the talent pipeline further. 

Experienced professionals are leaving the field, creating a skills gap that needs to be filled by new talent. As such, the demand for computer support specialists has led to fierce competition among organizations to attract and retain qualified professionals. This increased competition often results in companies struggling to fill their vacant positions, prolonging the shortage.

As computer systems become more complex, businesses will increasingly require more support specialists with in-depth knowledge of various hardware and software configurations. Addressing these complex systems demands a deep understanding of network infrastructure, security protocols, and troubleshooting methodologies.

As organizations face difficulties in finding qualified professionals, they need alternative solutions to bridge this gap effectively. One such solution is outsourcing. By embracing outsourcing, organizations can bridge the gap between supply and demand, ensuring uninterrupted technical support for their operations. 

With the advantages of outsourcing, businesses can optimize their resources, focus on core competencies, elevate their customer experience, and effectively navigate the evolving technological landscape while meeting the growing needs of their customers.

IT and Tech-Related Fields

Recent reports reveal an intriguing contradiction in the IT sector: while the unmet demand for talent in IT-related fields is at its highest, high-profile layoffs have occurred within the technology sector and beyond. This paradox presents a unique challenge for organizations as they strive to find the right people with the necessary skills to fill crucial IT roles. 

Over the past six months, the technology industry has witnessed a wave of layoffs. More than 208,000 workers have been laid off at tech firms this year – raising questions about the high demand for IT talent.

Experts suggest that many organizations over-hired during the pandemic, leading to a subsequent “course correction.” The sudden shift to remote work and increased dependence on technology prompted a spike in demand for IT services. However, as the situation stabilized, companies found it necessary to recalibrate their workforce size, forcing many to trim their workforce to align with the new operational realities of a post-pandemic world.

Despite the wave of layoffs, the shortage of IT talent remains a pressing challenge. Amanda Alwy, Senior Vice President of North America Technology & Analytics at ManpowerGroup, explained that companies are not just struggling to hire for tech roles but also people with the specific skills they require. 

The Manpower Employment Outlook Survey found that 76% of employers in the IT sector face challenges in securing professionals with the right skills. This disparity between job openings and available talent intensifies the urgency of addressing the talent shortage. 

Amid the talent shortage, IT outsourcing emerges as a practical solution to bridge the talent shortage gap. Businesses can effectively address their IT needs by leveraging the advantages of outsourcing, including access to a global talent pool, cost-effectiveness, scalability, specialized expertise, and the ability to focus on core competencies.

Accounting, Auditing, and Bookkeeping

In today’s business landscape, accountants and bookkeepers are in high demand. However, the industry is facing a significant challenge as the number of available jobs surpasses the availability of qualified professionals to fill them. 

With industry analysts projecting an average of 197,600 job openings in finance and accounting each year, the industry must explore alternative strategies to address this shortage. One solution gaining traction is accounting outsourcing, enabling businesses to expand their talent pool and partner with skilled and reliable accounting professionals worldwide.

The demand continues to grow, with factors such as retirement, career switches, and workforce exit fuelling the increasing gap between job openings and available accountants. At the same time, the supply of qualified professionals falls short – this shortage in the talent pipeline calls for a paradigm shift in the industry’s approach to talent acquisition and retention.

Businesses and firms can turn to outsourcing as a strategic option to address the shortage. By partnering with outsourced accounting professionals, organizations can tap into a global network of skilled individuals, enabling them to meet their accounting needs without the constraints of local talent shortages.

The Philippines stands out as a top choice among the countries renowned for outsourcing accounting and bookkeeping services. With over 466 accounting schools nationwide, the Philippines boasts the most significant number of accounting institutions in Asia. 

Approximately 7,250 new Certified Public Accountants (CPAs) enter the labor force each year, equipped with the necessary qualifications and expertise to meet international accounting standards. The country’s robust education system produces a steady stream of competent accounting professionals, making it an ideal offshoring destination.

Partnering with accounting professionals from the Philippines offers numerous advantages. Filipino accountants possess strong technical skills and are well-versed in international accounting practices and software platforms. 

Moreover, the cost-effectiveness of offshoring to the Philippines allows businesses to reduce overhead expenses associated with recruitment, training, and infrastructure, while maintaining the quality of work.

Why Outsource in the Philippines?

Let’s look at the benefits of outsourcing to the Philippines, making it an appealing option for businesses looking to address staffing challenges.

First and foremost, the Philippines has a well-established outsourcing industry and is recognized as one of the top destinations for offshore operations – boasting a large pool of highly skilled professionals who excel in various fields, such as customer service, IT support, and back-office functions. 

Additionally, the comparative cost advantage of offshoring to the Philippines is significant. Labor costs in the Philippines are generally lower compared to many Western countries, including the US, allowing businesses, and small and medium-sized enterprises, to access skilled talent at a more practical rate, reducing operational expenses and improving competitiveness.

Another compelling aspect is the time zone synergy between the Philippines and countries like the United States. The significant time difference allows for round-the-clock operations, enabling businesses to extend their service hours and support customers or clients in different time zones. This can result in enhanced customer satisfaction, improved response times, and increased efficiency.

Furthermore, the Philippine workforce is highly proficient in English, making communication seamless for businesses from English-speaking countries like the United States. This language proficiency and deep affinity for Western culture and business practices help foster effective collaboration and understanding between offshore teams and their onshore counterparts.

The scalability and flexibility offered by offshoring to the Philippines also drive the success of Filipino call center and BPO clients. Businesses can easily adjust their staffing levels according to their evolving needs, whether scaling up during periods of growth or scaling down during economic downturns for efficient resource allocation and adaptability in a dynamic market.

Navigate the Labor Shortage By Outsourcing Jobs To the Philippines

As the talent shortage continues, relying solely on the US job market can limit your options and hinder your business growth. By diversifying your recruitment strategies and embracing outsourcing, you can tap into a vast pool of skilled professionals from the Philippines. 

Outsourcing offers a cost-effective and efficient way to fill your labor gaps and access specialized expertise, allowing you to scale your operations and meet customer demands effectively.

SuperStaff is a trusted BPO company with extensive experience providing tailored outsourcing solutions. Our team of experts understands businesses’ challenges and can design a strategy that addresses your specific pain points. 

Whether you need customer support representatives, IT support professionals, accounting specialists, or other skilled professionals, SuperStaff can help you build a dedicated team that aligns with your business objectives.

Contact us today to start your offshoring journey and learn more about our full suite of cost-effective solutions for your success.