- By quade
- 25 August 2023
The BPO Industry is Growing Despite Facing Difficulties
Business Process Outsourcing (BPO) is still one of the top industries when it comes to sending money back to our country. It’s right behind Overseas Filipino Workers in terms of sending money home.
This statement was said by Haidee Enriquez, Chief Executive Officer (CEO) of Microsourcing Philippines and a Board Trustee of Beepo, At the 2nd Sulong Palawan Business Forum, which was organized by the Palawan Business Club, people gathered at the VJR Hall in the provincial capitol on Wednesday, August 23rd.
IT-BPM Industry: Aiming to Lead Our Nation’s Economy
Enriquez shared at a business meeting last November that the BPO (which we now call the IT-BPM industry) has a plan to become the top industry in our country in the coming years.
“As an industry, we ended 2022 with a total headcount direct employment of 1.76 million all throughout the Philippines. What was even more impactful, and I shared this during the last Sulong Palawan business forum was that in this already well noted and well established IT-BPM sector, for every one job generated directly by the industry, two to three more jobs are created elsewhere – janitorial staff, housekeeping… So you can compute how impactful the industry is,”
“The 2nd one is that in so far as revenue is concerned, the industry and the US$32.7 billion in dollar revenue generated for the country stabilizes, solidifying the 2nd biggest dollar revenue generator for the country next only to remittances from OFWs,”
Haidee Enriquez, Chief Executive Officer (CEO) of Microsourcing Philippines and a Board Trustee of Beepo
2023: Better Numbers and New Highs for the Philippines’ IT-BPM Industry
The numbers are slightly higher than what we saw in 2021. Back then, there were 1.4 million jobs and 29.5 billion pesos in revenue. Enriquez mentioned these figures at the first business forum.
Additionally, she said that the IT-BPM industry has always been at the top in different areas, as mentioned by the Everest Consulting Group during the Contact Island Conference that took place three weeks ago.
Based on what Everest discovered, the Philippines came in first place for contact service centers and healthcare business services. They also grabbed the second spot for IT services and global in-house contact centers.
“So that means, that’s no longer the option for our nurses and doctors to move outside the Philippines because they can be USRN certified while in the country,”
Haidee Enriquez, Chief Executive Officer (CEO) of Microsourcing Philippines and a Board Trustee of Beepo
She also said that besides the IT-BPM sector, the country is seeing quick growth in the economy for workers and freelancers. However, Enriquez admitted that because there isn’t a way to keep track of freelance workers directly, we can’t give an exact number.
“Based on DICT estimates, there are currently 5 million of them,”
Haidee Enriquez, Chief Executive Officer (CEO) of Microsourcing Philippines and a Board Trustee of Beepo
Palawan’s IT-BPM Industry: Thriving but Needing Skilled Workers
The chart also displays a significant increase compared to the 1.1 million estimate from 2021.
Additionally, she mentioned that we can see the IT-BPM industry growing in Palawan because new contact service companies like Hello Connect and Cognizant have recently started operating there.
Cognizant plans to open an office in Puerto Princesa City.
“In Palawan, we have witnessed the entry of another contact center provider – Hello Connect, alongside Sitel. Then, just two months ago, a contact center provider from India, Cognizant, entered the scene. They are actually one of the largest in India and they are in the process of setting up operations in Puerto Princesa,”.
Haidee Enriquez, Chief Executive Officer (CEO) of Microsourcing Philippines and a Board Trustee of Beepo
However, she mentioned that the industry is still dealing with the same problem that has been holding back its progress.
“In so far as low lights are concerned, there is only one thing – talent, talent and talent, or lack of it,” she lamented, adding that her company alone needs around 400 people from virtual assistants to medical doctors but they cannot fill up the gap because of the problem in talent.
“Year-on-year, it is estimated that there are around 120,000 jobs left unfilled and are going elsewhere even though the Philippines is their first option because we do not have the talent,” she said.
“So that’s good news and bad news, and a lot more challenges ahead of us,” she added.
Haidee Enriquez, Chief Executive Officer (CEO) of Microsourcing Philippines and a Board Trustee of Beepo
