Eastvantage Joins the APEC SME Summit 2015

The Philippines takes centre stage as twenty one world leaders and ministers convene in Manila for the 2015 APEC Economic Leaders’ Week.

As all participating nations gear up to boost trade and inclusive, sustainable growth in the Pacific Rim, the small and medium enterprises (SME) are likewise given an extra push.  The Asia Pacific Economic Conference (APEC) SME Summit aims to challenge the traditional SME framework and mindset with the deeper goal of motivating entrepreneurs to re-think and re-create the way they do business, as well as to look at their products, services and business operations through the lens of innovation to successfully meet the demands of the 21st century global market. 

Eastvantage takes part in this US-Philippine trade mission organised by the APEC Business Advisory Council (ABAC) on the 17th of November 2015 at Green Sun in Makati City.  Eastvantage delegate and Managing Director, Joeri Timp, believes that it’s high time for SMEs to be heard and counted in regional and global markets.  He believes, too, that the APEC SME Summit paves the way for a better understanding of how players like Eastvantage can take advantage of new trade opportunities, contribute in promoting alliances with larger businesses in global value chains and more importantly, how to continue creating new jobs and making valuable contribution in the ASEAN economies.

Recognised as the engines of growth and innovation in the APEC region, SMEs account for over 97 percent of all enterprises and employ over half a million of the workforce across APEC economies.

Culled from the APEC Senior Officials' Meeting, "Yes, small firms can benefit from greater trade too."

- See more at: http://www.eastvantage.com/newsroom/eastvantage-joins-apec-sme-summit-2015#sthash.nAJa1x9i.dpuf


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Filipinos are the happiest employees in Asia

Jobstreet Philippines’ recent survey revealed that Filipinos are the happiest workers compared to other Asian workers.

From the recent nationwide Job Satisfaction Report that was conducted by Jobstreet Philippines from June to July, the result showed that 70% out of the 7,586 workers rated themselves as “happy” with their jobs, where in 15% answered “very happy” and 55% are “happy”.  The 70% is the highest rating collated by the Jobstreet compared to surveys conducted in Hong Kong, Thailand, Singapore and Indonesia.
Yoda Buyco, Marketing Manager of Jobstreet Philippines said that, “We are the happiest employees in Asia. Compared to Hong Kong whose satisfaction rating is at 37 percent, Singapore at 51 percent, Thailand with 59 percent, and Indonesian employees are most dissatisfied with a 28- percent satisfaction rating,”
Salary and Benefits are said to be the factor driving the satisfaction rating, even if the country has the highest taxation rate and low income levels.
Buyco mentioned that, “If you look at our cost of living, it’s very low compared to the other Asian countries. We’re happy even if our salaries are not comparable, but if we compare the cost of services and goods, ours is still lower.”
Their survey result also revealed that the position level and tenure also affects the satisfaction rating, stating that “the higher the position of employees, the more dissatisfied they are with their job.”
Their data showed that 79% of the fresh graduates answered the survey that they are “happy” with their job, while for directors and managers – 67% happiness level. Buyco also added that, “For those less than a year in their company, they are 75 percent happy but for those longer than 5 years, only 62 percent are happy.”
From the survey’s result, it was also concluded that the drivers for the employee happiness (considering the least to most significant to staff), are the relationships with their colleagues, teams and superior, working environment, learning and development opportunities, job role, salary and benefits.  For the 30% of the survey results, Monetary compensation seen to be the reason why they are unhappy with their jobs.

Business Mirror

- See more at: http://www.eastvantage.com/newsroom/filipinos-are-happiest-employees-asia#sthash.uq8BbUKO.dpuf

Jobstreet Philippines’ recent survey revealed that Filipinos are the happiest workers compared to other Asian workers.

From the recent nationwide Job Satisfaction Report that was conducted by Jobstreet Philippines from June to July, the result showed that 70% out of the 7,586 workers rated themselves as “happy” with their jobs, where in 15% answered “very happy” and 55% are “happy”.  The 70% is the highest rating collated by the Jobstreet compared to surveys conducted in Hong Kong, Thailand, Singapore and Indonesia.
Yoda Buyco, Marketing Manager of Jobstreet Philippines said that, “We are the happiest employees in Asia. Compared to Hong Kong whose satisfaction rating is at 37 percent, Singapore at 51 percent, Thailand with 59 percent, and Indonesian employees are most dissatisfied with a 28- percent satisfaction rating,”
Salary and Benefits are said to be the factor driving the satisfaction rating, even if the country has the highest taxation rate and low income levels.
Buyco mentioned that, “If you look at our cost of living, it’s very low compared to the other Asian countries. We’re happy even if our salaries are not comparable, but if we compare the cost of services and goods, ours is still lower.”
Their survey result also revealed that the position level and tenure also affects the satisfaction rating, stating that “the higher the position of employees, the more dissatisfied they are with their job.”
Their data showed that 79% of the fresh graduates answered the survey that they are “happy” with their job, while for directors and managers – 67% happiness level. Buyco also added that, “For those less than a year in their company, they are 75 percent happy but for those longer than 5 years, only 62 percent are happy.”
From the survey’s result, it was also concluded that the drivers for the employee happiness (considering the least to most significant to staff), are the relationships with their colleagues, teams and superior, working environment, learning and development opportunities, job role, salary and benefits.  For the 30% of the survey results, Monetary compensation seen to be the reason why they are unhappy with their jobs.

Business Mirror

- See more at: http://www.eastvantage.com/newsroom/filipinos-are-happiest-employees-asia#sthash.uq8BbUKO.dpuf

Jobstreet Philippines’ recent survey revealed that Filipinos are the happiest workers compared to other Asian workers.

From the recent nationwide Job Satisfaction Report that was conducted by Jobstreet Philippines from June to July, the result showed that 70% out of the 7,586 workers rated themselves as “happy” with their jobs, where in 15% answered “very happy” and 55% are “happy”.  The 70% is the highest rating collated by the Jobstreet compared to surveys conducted in Hong Kong, Thailand, Singapore and Indonesia.

Yoda Buyco, Marketing Manager of Jobstreet Philippines said that, “We are the happiest employees in Asia. Compared to Hong Kong whose satisfaction rating is at 37 percent, Singapore at 51 percent, Thailand with 59 percent, and Indonesian employees are most dissatisfied with a 28- percent satisfaction rating,”

Salary and Benefits are said to be the factor driving the satisfaction rating, even if the country has the highest taxation rate and low income levels.

Buyco mentioned that, “If you look at our cost of living, it’s very low compared to the other Asian countries. We’re happy even if our salaries are not comparable, but if we compare the cost of services and goods, ours is still lower.”

Their survey result also revealed that the position level and tenure also affects the satisfaction rating, stating that “the higher the position of employees, the more dissatisfied they are with their job.”

Their data showed that 79% of the fresh graduates answered the survey that they are “happy” with their job, while for directors and managers – 67% happiness level. Buyco also added that, “For those less than a year in their company, they are 75 percent happy but for those longer than 5 years, only 62 percent are happy.”

From the survey’s result, it was also concluded that the drivers for the employee happiness (considering the least to most significant to staff), are the relationships with their colleagues, teams and superior, working environment, learning and development opportunities, job role, salary and benefits.  For the 30% of the survey results, Monetary compensation seen to be the reason why they are unhappy with their jobs.

Business Mirror

- See more at: http://www.eastvantage.com/newsroom/filipinos-are-happiest-employees-asia

Eastvantage | IT Outsourcing | Offshoring Services

For business inquiries email info@eastvantage.com

BPO revenues to soon surpass OFW remittances

Outsourcing firms will within the decade surpass remittances sent home by migrant workers as the Philippines' main source of dollar income, giving the domestic economy another boost.

The Bangko Sentral ng Pilipinas (BSP) said it was only a matter of time before the business process outsourcing (BPO) industry, which has been booming for more than a decade, would replace cash transfers as the economy’s main economic engine.

Money received by millions of Filipino families from their relatives working overseas would continue to grow at a steady but subdued pace this year, BSP Deputy Governor Diwa C. Guinigundo said.

The BPO sector’s outlook, however, is much brighter. “BPO revenues are expected to grow by at least 15 percent,” Guinigundo said, citing industry data. Remittances from overseas Filipino workers (OFW), meanwhile, would grow by 6 percent, at most, in 2015.

Remittances from OFWs were the biggest source of dollar income for the country last year, helping keep the peso stable despite volatile financial market conditions. In 2014, money sent home by the country’s 10 million migrant workers reached a record-high $24 billion, accounting for nearly a tenth of gross domestic output.

Income from BPOs, which employ more than a million Filipinos, reached $18.4 billion, up 18.4 percent year-on-year. The IT and Business Process Association of the Philippines (IBPAP) said it expected the industry’s earnings to rise by 15 to 17 percent in 2015.

By 2016, BPOs would earn $25 billion annually, industry estimates showed.

Even with the shift, Guinigundo said remittances would stay as a vital pillar for the domestic economy. He said demand for OFWs remained high. “If other countries had substitutes for Filipino labor, we can get worried. But there aren’t any,” Guinigundo said.

Cash remittances from overseas Filipino workers (OFWs) coursed through banks increased by 11.3 percent year-on-year to $2.1 billion in March 2015, latest data from the central bank showed.

Philippine Daily Inquirer

See more at: http://www.eastvantage.com/newsroom/bpo-revenues-soon-surpass-ofw-remittances


Eastvantage | IT Outsourcing | Offshoring Services

For business inquiries email info@eastvantage.com