- By quade
- 28 September 2023
The BPO Industry Set to Create 1.7 Million New Jobs in the Philippines
According to an announcement made by THE IT and Business Process Association of the Philippines (IBPAP), they are expected to achieve their goal of providing 1.7 million jobs in the country by the end of the year.
This growth and success came despite obstacles such as the pandemic which hampered opportunities and recruitment. IBPAP President Jack Madrid was invited to an interview with ANC Market Edge where he explained the situation to the hosts.
“I am happy to say that in the years of the pandemic through 2023, we are very much on track and in fact slightly exceeding the global growth (rate) of the industry. We started 2023 with 1.57 million and I would say that we are on track to touch 1.7 million by the end of 2023. So very much on track with our roadmap 2028 targets.”
– Jack Madrid, President of the IBPAP
Looking To the Future of the BPO Industry
Even with this success, the IBPAP believes there is still more room to grow and expand the industry in the coming years. That is why they shared their 2028 Roadmap regarding the Information Technology and Business Process Management (IT-BPM) Industry,
This map aims to lay out the specific plans and objectives that they hope to hit in sectors such as expanding the workforce and enhancing revenue. Among these plans is Mr Madrid’s goal to further expand the job market in the BPO industry by nearly one million, bringing the workforce to 2.5 million by the end of 2028.
Of course, that does not mean there are no problems in the industry. In the same ANC interview, Mr. Madrid acknowledged issues like the existing skill deficit in the industry, making hiring more people difficult. Nevertheless, he still believes that they have room to expand the industry.
Many businesses struggle to find employees with the necessary skills and have to first train employees. fist. Because of this skill difficulty, demand is starting to outpace the different BPO business’s ability to supply their needs.
“We grew by 255,000 jobs in the pandemic, but I feel we could have grown more. I mean I am happy with 255,000 but I think it could have been 300,000 or even more. We met our targets but as a Filipino I want the country to maximize its market share.”
– Jack Madrid, President of the IBPAP
However, at the same time, the industry is also becoming more diverse and has expanded into other industries aside from business. Now BPOs are starting to offer operations in the medical and even creative services.
“The job requirements of the industry are becoming more demanding and more diverse; it is no longer a one-dimensional customer service voice-based phone call. Don’t think of the IT-BPM industry as simply answering repetitive phone calls, it has matured well beyond that. And so, correspondingly, the skills of our job seekers and university graduates will be more complex on top of the basics such as comprehension, communication, and critical thinking.”
– Jack Madrid, President of the IBPAP
To address these growing requirements, Mr. Madrid and IBPAP are working on solutions for identifying and cultivating the necessary skills in potential employees. He hopes that they can form a partnership with government agencies to improve the process.
“(They) all have… some scholarship funds that are urgently needed to address the talent supply gap and also to update and modernize curriculum for future job seekers to meet the more complex job requirements.”
– Jack Madrid, President of the IBPAP
