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Addressing the Talent Shortage: Double Yolk Enters the Philippines

Economic Insider Staff on May 15, 2023

The Philippines is a key source of workforce talent and home to a thriving offshoring industry that contributes significantly to the country’s economy, generating $25 billion annually. Despite the pandemic, the IT-BPO sector in the Philippines has continued to grow, making $29.49 billion in sales in 2021, a 10% increase from the previous year. As a result, more and more companies, such as Double Yolk, are expanding their workforce resources by establishing a presence in the Philippines. 

Nevertheless, the talent and skill shortages continue to pose significant obstacles for the IT-BPO industry in 2022. While the pandemic has worsened this issue, it can be mitigated by utilizing a combination of technology and human oversight to optimize the workforce and leverage the available talent pool. Businesses can overcome talent shortages and ensure continued growth and success by taking these measures.

Local talent teams for recruitment and business success

Double Yolk, a go-to offshore development team from New Zealand and Australia, has built proprietary software for over 100 businesses. It also has a team of full-time talent staff in New Zealand, Australia, India, and the Philippines responsible for identifying, screening, recruiting, and retaining exceptional talent for the company and its clients. The local teams have developed a rigorous six-stage selection process to ensure Double Yolk clients are referred to top-tier professionals.

One of the benefits of having a local team lead the talent screening is their knowledge and understanding of the local job market, including cultural, social, and economic factors. This expertise enables them to identify suitable candidates with the necessary skills, experience, and cultural fit to meet the client’s needs. Local teams also have access to a broader talent pool, including passive job seekers. They can help streamline recruitment while providing valuable insights into the local job market and industry trends.

Streamlining resource allocation and enhancing access to top-tier talent

Double Yolk’s business model is unique in its ability to quickly scale resources up or down based on project demands. The agency has implemented notice periods and resource redeployment as projects near completion to ensure they can always meet their clients’ needs. 

In addition, the company maintains an Approved Talent List (ATL) of approximately 120 pre-vetted and tested professionals. The ATL benefits clients because it allows them to easily access top-tier talent without the lengthy recruitment and onboarding process. They can trust that the individuals on the ATL have a proven track record of success and are high-quality professionals.

Practical resource and workload management

Double Yolk understands that effective resource and workload management are crucial to the success of any offshore team. To achieve this, the company follows vital principles of motivation, transparency, and momentum. Double Yolk has implemented several initiatives to meet clients’ expectations and criteria for success. 

These initiatives include Technical and Leadership Coaching, which equips team members with the skills and knowledge necessary to excel in their roles. The company also uses Daily Forms to maintain transparency and enable efficient communication between team members and management. Furthermore, an Issue Escalation Framework is in place to promptly address any issues or concerns, ensuring that projects remain on track and deadlines are met.

In addition, Double Yolk utilizes project management tools and software to streamline workflows, track progress, and manage resources effectively. These tools enable real-time collaboration, task assignment, and progress monitoring, facilitating smoother project execution and reducing the chances of miscommunication or delays.

Furthermore, the company also promotes a positive work culture by fostering a supportive and collaborative environment. Regular team meetings and feedback sessions allow for open communication and the exchange of ideas, ensuring that everyone is aligned and motivated to achieve common goals. Double Yolk recognizes the importance of recognizing and rewarding outstanding performance, which boosts employee morale and encourages continued excellence.

By prioritizing practical resource and workload management, Double Yolk ensures that its offshore teams are well-equipped, motivated, and supported to deliver high-quality results for their clients.

A leading source of workforce talent

The entry of Double Yolk into the Philippines underscores the country’s position as a leading source of workforce talent and a hub for the thriving offshoring industry. Despite the talent shortage challenges faced by the BPO and SSC industries, the proactive use of technology and human oversight provides an effective solution for companies to optimize their workforce and achieve growth. With Double Yolk’s presence in the Philippines, the company is well-positioned to tap into the country’s diverse talent pool and strengthen its workforce resources, contributing to its continued success in the offshore development industry.

Ira Gumberg on Why Corporate Philanthropy is Gaining Traction

Economic Insider Staff on May 15, 2023

Image commercially licensed from: Unsplash

 

In recent years, corporate philanthropy has been gaining traction in the business world. Companies are increasingly recognizing the benefits of engaging in philanthropic activity, embracing their position for the betterment of the communities they serve. 

This concept is one with which Ira Gumberg is very familiar; as the chairman and CEO of JJ Gumberg Co. and the director of Gumberg Global, he regularly uses his connections and professional standing for philanthropic good. Gumberg is involved in several charitable endeavors with a particular focus on higher education. In founding the Ira J. Gumberg Family Foundation, Gumberg has facilitated charitable donations to leading institutions like Georgetown University, Princeton University, Harvard University, Brown University and the University of Pittsburgh.

Here, Gumberg traces the elements currently driving corporate philanthropy in 2023 and beyond. 

The Rise of Social Responsibility

A primary component of modern corporate philanthropy is a growing macro focus on business-related social responsibility. As society becomes more conscious of issues like climate change, income inequality, and social justice, more consumers are choosing to support companies that align with such values. A 2022 article by the Economist underscores this rapidly growing shift, noting: “Large corporations are finding it difficult to remain neutral on political and social issues. They are feeling investor pressure from above, employee pressure from within and consumer pressure from all around to be more public in the way they express and defend their values.”

By engaging in philanthropic causes, companies can demonstrate their commitment to making a positive impact on society, which can help expand and advance conversations surrounding today’s most pressing issues. At the same time, employees are also placing more value on companies with strong philanthropic programs, which, in turn, can help companies attract and retain talent, boost employee engagement and morale, and ultimately foster an internal culture that is more conducive to positive external impact.  

Building New Relationships

Corporate philanthropy also flourishes as more businesses see it as an opportunity to forge healthy, fruitful community relationships. When pursued effectively and ethically, philanthropic programs can help companies build lasting connections between community members, employees, and local leaders alike – leading to stronger, more informed, and more transparent philanthropic work based on multiple effective vantage points.  

In addition, some companies are gravitating towards venture philanthropy, where companies use their resources and expertise to help non-profits and social enterprises build capacity and scale their impact. This approach allows companies to leverage their business insight and resources to make a more meaningful impression while also building relationships with non-profit partners that can help them achieve their social and business goals.

Ensuring Future Success

Broadly speaking, corporate philanthropy’s future, like its past, is contingent upon proper perspective; it is important to remember that such endeavors are not just about companies writing checks to charities. Effective philanthropy requires a thoughtful, strategic approach that aligns with a company’s core values and business objectives. Moving forward, philanthropy-driven companies will need to continue investing in social consciousness, sustainable business infrastructure, and community outreach to properly leverage their position for positive change. 

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