As global business growth opportunities abound, companies are paradoxically facing an acute talent shortage. Employers worldwide reported difficulty in filling roles—with the number surging alarmingly from 36% in 2014 to 75% in 2024—according to a ManpowerGroup survey.
The problem is compounded by increased scouting and hiring costs and higher turnover rates, forcing a dramatic re-evaluation of how businesses attract and retain their workforce.
The pandemic’s “Great Resignation” phenomenon put these issues in the spotlight, as a staggering 77% talent shortage peaked in 2023 coinciding with a mass workforce exodus, spurred by individuals reassessing their work-life balance and career aspirations.
With 63% of CEOs citing skills availability as a serious concern and half planning to expand their workforce within the next 12 months, the competition for talent has never been more fierce.
All these challenges—along with the large, permanent increase in remote work during and post-COVID-19—signal a critical pivot point for talent acquisition strategies. As a result, companies have turned to hiring skilled, cost-effective talent globally.
Despite business growth, companies face a growing talent shortage, with difficulty filling positions rising from 36% in 2014 to 75% in 2024. The COVID-19 pandemic heightened this challenge, leading to a reevaluation of hiring and retention strategies amid fierce competition for skilled workers.
The Philippines as a Talent Solution
As the global talent pool constricts, the Philippines emerges as a beacon of hope, presenting a compelling solution to the worldwide talent crunch. With a high literacy rate of 97% and a robust annual influx of 1.6 million diverse and skilled graduates, the Philippines offers an untapped reservoir of talent.
Penbrothers has pioneered in harnessing this potential for a decade, positioning itself as an expert on offshore staffing. “The global talent market shift pushed companies, including ours, to explore talent on a regional and global scale. Penbrothers was at the forefront, facilitating this borderless approach to talent acquisition,” says CEO and Co-Founder Nicolas Bivero.
The company’s ethos, rooted in the pursuit of high-value career creation in under-recognized locals, has seen the Philippines transform into a go-to talent haven for burgeoning global enterprises.
Under the strategic guidance of Bivero and his co-founder Gui Faria, Penbrothers has excelled in curating the top 3% of Filipino talent. The company attributes its success to its multifaceted strategy for solving clients’ talent challenges.
Unlike traditional hiring practices that focus only on resumes, Penbrothers’ talent acquisition experts evaluate candidates based on their skills and knowledge. They leverage their deep understanding of client needs to create job descriptions that match the specific needs of the client per role.
The selection process is further refined through aptitude tests, as well as culture fit and personality assessments. This is complemented by extensive background checks to verify each candidate’s integrity and reliability.
Such a framework empowers clients to onboard highly skilled talent, perfectly matched to their teams. This comes with the added benefit of significant labor cost savings—at least 50% lower than local hires—without compromising on talent quality. Penbrothers also guarantees a swift hiring process, ensuring the right fit is found and onboarded within 30 days.
Founded in 2014 by Nicolas Bivero and Gui Faria, Penbrothers capitalizes on the rich potential of Filipino talent, creating a win-win solution: businesses gain access to the skilled professionals they desperately need, while Filipinos get the chance to showcase their skills on a global stage without leaving their country.
Growing by Helping Businesses Grow
“We grow because we help our clients grow,” says Bivero.
One of Penbrothers’ growth strategies for clients is the Hypercare Framework—a comprehensive solution built on client feedback, data, and insights—to develop high-performing, stable offshore teams with low turnover. This consultative and collaborative approach enables the company to fully understand client needs, foresee potential issues, and proactively craft solutions.
Understanding the intricacies of integrating offshore teams with client operations, Penbrothers provides each client with dedicated account managers and onboarding specialists, providing 24/7 support to tackle any challenges head-on.
Moreover, its Customer Success teams engage in monthly check-ins post-onboarding. These are critical touchpoints for reviewing progress, adjusting strategies as needed, and confirming that new hires are adapting and thriving.
“Our strategy has delivered outstanding results, underscored by Penbrothers’ phenomenal growth metrics,” Faria shares. “From 2019 to 2022, we’ve seen an incredible 906% increase in revenue and a 276% growth in our team, with over 1,000 employees in the Philippines serving global startups and rapidly expanding companies.
Such impressive growth has earned Penbrothers recognition by Statista and the Philippine Daily Inquirer as a Philippine Growth Champion from 2022 to 2023. Penbrothers tops the list this year, becoming the 2024 Philippines’ Fastest-Growing Company.
Beyond Numbers: A Commitment to Lasting Impact
Penbrothers’ growth is reinforced by its newest investor and strategic partner Mynavi Corporation, a Tokyo-based human resource and staffing company.
“This investment extends far beyond mere financial boost,” says Faria, “In essence, this is a powerful vote of confidence in Penbrothers’ specialized offshore staffing solutions, which are specifically designed to meet the rigorous demands of the Japanese market.”
Faria further adds, “It’s important to highlight that Japan faces the world’s highest talent scarcity, with a staggering 85% impact rate. This investment not only acknowledges our capability to address such critical challenges but also reinforces our commitment to delivering exceptional service in a market that is in dire need of it.”
“We are strategically boosting our presence in key markets, including Japan, the United States, the United Kingdom, and Australia. We’re positioning offshoring as a strategic solution to the acute talent shortages these countries are facing,” Bivero adds.
“This represents a significant opportunity to introduce Filipino talent to these regions, providing a dual benefit: companies access the skilled professionals they need, and Filipinos get the opportunity to work for global companies without leaving the country.”
By 2028, Penbrothers aims to provide 5,000 jobs to Filipinos. “More than just a number, this goal is our commitment to making a lasting difference. Each person we place in a role represents a family supported, a career built and developed, and a contribution to the economic growth of the Philippines,” Faria shares.
To know more about Penbrothers and how the company helps global companies find and hire the top 3% of Filipino talent, visit www.penbrothers.com.
ADVT.