YBR Offshore Services
Scale Your Business Fast!
YBR has its own offshore services offering available to brokers who are looking to grow their business and increase productivity. YBR has taken a unique approach to sourcing the right staff and skills for your business. Not simply assigning a resource but finding the right person for you!
We ensure that staff are trained across the YBR systems, policies, and processes, so they can seamlessly and effectively contribute to your business from day one.
Benefits of Offshore Staff
Reduced Costs
Significant savings on resource costs to operate at scale
Productivity
Dedicate your time to what is most important in your business
Business Growth
Having the right people in place to meet your customer demand
Flexibility
A team to reduce the pressure on yourself so you have more flexibility
Skilled Resources
Resources sourced and trained by YBR on our tools and processes
How the Process Works
1. Recruitment
We will find you an experienced broker support resource. All of our recruits come to us with loan processor experience from Australian Mortgage Brokers. We do this so there is minimal lead time to being productive in your business.
2. Employee Setup
We handle everything, including; background checks, references, employment contracts, payroll establishment, IT & equipment. YBR is fully incorporated in the Philippines meaning the level of integration with the systems you use on a day-to-day basis is unparalleled.
3. YBR Systems & Process Training
Most of our recruits come to us with lots of systems and process knowledge already, however, they also spend a great deal of time with our training team, who helps to up-skill them in anything that is unique to the YBR technology stack.
4. Your Systems & Process Training
We understand that each brokerage has a different way of doing things, so we take the time to understand your business better, provide suggestions and ultimately teach your new resource how you like to do things in your business.
5. Deployment
This is your official employee start date. From this date onwards your employee reports to you or your delegates.
6. Ongoing Support
Don’t worry we’re not going anywhere. Each month we make sure your employee gets paid, is performing to their best and has everything else they need to be productive. If you ever want to check employee admin matters, review the employee or anything else, we have Australian based managers that can assist you.
*Brokers will be required as part of the sign up process to read and accept the YBR Standard Service Engagement Terms. They will need to be duly authorised by their comnpany to do this.
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Frequently Asked Questions
Engagement Terms
The YBR Standard Customer Engagement Terms are available here. You will be required to accept the terms and declare that you are authorised to to do so
Staff Location
YBR sources talented staff from the Phillipines due to the similarities in timezone, skills, and capabilities.
Work Hours
PH employees start at 6am and finish 3pm Phillipines time (PHT). This is the same during AEST and AEDT.
Public Holidays
PH employees have agreed to what’s known as a public holiday swap schedule with yellow brick road. This means they will swap their public holidays with australian public holidays to ensure there is alignment with australian work days.
Penalty Rates
Yes, there are penalty rates known as holiday pay applied when employees work on a PH regular public holiday. The rate is double-time and is provisioned for in your monthly broker invoice.
13th Month Pay
13th month pay is a mandatory benefit in the Philippines that requires employers to provide their employees with an additional month’s salary at the end of the year. This pay is calculated as one-twelfth (1/12) of an employee’s total basic salary within a calendar year.
Pay Cycle
Typically payroll is made twice a month.
Government Payments
As an employer Yellow Brick Road is required to withhold taxes, social security system payments (SSS), home development mutual fund (HDMF) payments and PhilHealth (healthcare) payments on behalf of the employee. These payments also require an employer contribution.
De Minimis Benefits
De minimis benefits are relatively small amounts of the employee’s pay that is not subject to income or withholding tax.
Annual Leave
Employees in the hPilippines get 20 leave credits that may be used for vacation, sick leave or compassionate/carers leave. If unused the employee is entitled to monetise any available leave credits at the end of each year.
Annual Leave Monetisation
We will calculate the number of leave credits available for monetisation at the end of every calendar year and provide an invoice to brokers for payment.
Health Maintenance Organisation (HMO)
HMO is an insurance plan that employers provide on behalf to employees as part of their overall package. Yellow Brick Road invests a significant amount of money each year insuring each employee that joins our PH company. This is a system adopted from the United States, given the Philippines was once a US colony. The policy provides cover of 150,000 PHP per illness per claim. The policy also allows for one family member to come onto the policy as a dependent.
Physical Office Offshore
No, YBR has deliberately decided not to have a physical office in the Philippines. It allows us to recruit talent from all over the country and offer work from home arrangements to new recruits. We have found PH employees typically prefer this arrangement. It is a requirement that each employee has a fast internet connection and home office setup. We also provide laptops and other peripheral devices if required.
Probationary Period
Yes, there is a six (6) month probationary period for new employees.
Background Checks
We request National Bureau of Ivestigation (NBI) checks as well as professional reference checks before we formally offer employment with YBR.
Transfer Pricing Costs
The major export of the Philippines economy is outsourcing. hence, the government has mandated that any local business that is transacting with offshore entities under the same control must ensure there is a profit margin, so that the Philippines bureau of internal revenue receives tax revenue. This is a cost to YBR for providing the service and is offset with a levy to you via your monthly invoice.
Underutilisation Costs
Recruiting experienced loan support people takes time. Hence, YBR is constantly hiring more people than necessary to ensure that we can train and deploy people to your business fast. Having this charge in place also ensures we can change people that aren’t right for your business and add more staff in the case you are growing quickly.
Foreign Exchange (FX) Costs
FX costs reflect the exchange rate differences and banking fees incurred to change Australian dollars into Philippine pesos.
Sharing Resources
Yes you can share with another broker, but be aware that too many differences in day-to-day processes will slow your resource down. we recommend you share resources with brokers that share similar processes to you.