Three simple steps to gaining the benefits of a remote employee accounting team.
Are you at a crossroads, considering if adding offshore accounting talent is right for your business in 2024-25-26? And if outsourcing to the Philippines is the right way ahead for you? Many of Yempo’s clients join us with no experience in adding offshore accounting talent to their teams. Before ‘pressing go’ clients understandably want to be sure that their businesses will gain the benefits that offshore resources promise, but from within a low-risk delivery solution.
Here’s what they have to say about their experiences engaging with Yempo:
‘’Our business benefits from significant productivity gains vs. hiring in-country.’’ – Russell K, Head of People & Culture, OneStop
‘’Yempo gives us peace of mind. A one-stop shop from job spec to ad, interview, employment, admin, tech, payroll.’’ – Simon J, Director, SDJA
‘’Interviewing, contracting, hitting dates, invoicing…it’s all been so easy that we thought there must be a catch!’’ – Warwick M, Compliance Data Labs
Can your business remain competitive in 24-26 without offshore accounting talent?
How other Australian business leaders are thinking about their staffing challenges:
- 25% of businesses are looking to source overseas labour in order to reduce costs.
- 21% are seeking foreign workers due to the inherent difficulty in finding suitable local talent.
- 14% aim to tap into international labour markets to acquire employees with specific skill sets.
- 32% are hesitant to outsource overseas, with 8% entertaining the idea under significant financial duress.
Feeling hesitant about adding remote employees to your team is normal and common. What’s tragic is that this hesitation is leading almost 10% of Australian employers to hold off exploring their offshore options until their businesses are already in financial trouble. Our experience is that this is almost always a mistake since it usually leads to bad offshore partner selections. Businesses in this position place too greater emphasis on initial cost savings rather than understanding and leveraging the overall benefits of offshore accounting talent. Choosing the lowest cost is invariably a route to failure and frustration because of issues including high staff churn rates, hidden extra fees, team members being switched in/out of clients, and poor IT and working conditions.
It’s best to start early, start small, gain experience, prove the model and be ready to jumpstart laggard competitors that remain stuck on the fence.
All Philippines-based accounting staff provided by Yempo are fully and permanently dedicated to your team (unless you request otherwise).
‘’We were hesitant to offshore, but Yempo offers us great staff that we know are well looked after.’’ – Ron C, The IT Agency
Three simple and proven steps to offshore accounting success.
With Yempo you can hire dedicated full-time accounting resources so you can scale your organisation easily, cost-effectively and quickly. Our simple & well-proven process makes this change fast, flexible and successful for our clients, with low levels of management time required from your team vs. chasing scarce local talent.
Step 1 – Identify the accounting skills you need.
You provide us with a job description and tell us what skills you need. We can provide job descriptions for popular accounting roles if this makes things easier for you. Popular roles are listed within our instant quote tool and our CEO, Michelle, will be happy to discuss these with you or other accounting skills gaps that you have that are not listed.
Yempo’s Talent Aquisition team applies decades of experience to scan our extensive candidate database, plus the local candidate market. We compile an extensive list of candidates, conduct rigorous assessments and interviews BEFORE we take up your time.
Note: we never coach candidates as many lower cost providers do. We provide only premium talent for our clients.
You review a tailored shortlist, selecting candidates to interview as you would local candidates. We’ll share CVs, set up mutually convenient interview dates, set up video calls, and help you understand local nuances that can help you run effective interviews should you be new to this market.
You select the most suitable candidates for your organisation, agree costs and a contract with Yempo, then we make job offers.
‘’We carried out seven interviews and were able to hire five people. They are some of the most amazing staff we’ve got.’’ – Ron M, Global Head of Operations, Prezee.
Transparent pricing full service offshore staffing
Step 2: Onboard your new offshore accounting team members.
Just as you would in your own office, you onboard your new hire(s) via video conference, using our robust infrastructure. Done well, you’ll quickly find both your local teams and clients can’t tell which of your accounting team members are local and which are in the Philippines.
‘’Yempo gives us a dedicated, reliable, consistent team with a great work ethic that’s looked after well.
English skills are excellent. Incoming calls to our Perth number are answered by anyone in our team – Australia and Philippines – and customers can’t tell the difference.’’ – Andrea H, CFO, PowerTech
You might even want to consider traveling to the Philippines to meet your new hire(s). While it’s not necessary, why not visit your new staff member and add a vacation in one of the most beautiful archipelagos in the world?
Step 3: Focus on your business as we take care of everything else (full service).
Your offshore accounting staff work during your business hours, or hours that you agree with them, as an extension of your local team. Just like any of your local team members who work remotely.
You can focus on your business with full control and visibility of your dedicated offshore team members. We take away operational worries by providing a fully managed service
Fully Managed Operations
- Recruitment
- HR
- Payroll
- Quality IT equipment
- Cyber Security
- Compliance with Philippines labour legislation
- Staff benefits and healthcare
- A motivational working environment
- Performance Management
- Staff Retention Management
Clients say Yempo’s Aussie CEO plus our experienced local Filipino leadership team delivers huge benefits to them since we ‘get’ both the Aussie and Philippines ways of doing business.
‘’Michelle understands the Philippines labour market and legislation. Yempo is a great employer, not a sweatshop. Good talent and well-organised.’’ – Kirsten F, CEO, Accounting for Good.
‘’Yempo provides a seamless, supportive, end-to-end process. The business is unique as some of Yempo’s most senior leaders are Filipino (this really helps). Michelle is incredibly accessible, and problems get solved fast.’’ – David D, MD, FiveP
Start today: Quickly gain benefits from an offshore accounting team.
‘’Yempo makes adding offshore talent easy. The OneStop team we have (via Yempo) feels like part of our company. Yempo is like an invisible partner. Yempo treats people as people – bonuses, healthcare, social events – they really do care. We trust each other.’’ – Russell K, Head of People & Culture, OneStop
Thank you for visiting our blog! We hope you found our content informative and engaging. Stay connected with us for more insightful blogs, updates, and tips on outsourcing IT & outsourcing Finance in the Philippines, or shoot us an email at [email protected]. We are happy to answer your questions!
Learn more: Download our Step-by-step Finance Outsourcing Guide
Source: Gupta, Y. (2023, August 21). New study highlights SMEs shift towards overseas labor. Dynamic Business.