Business process outsourcing companies expressed concern over the possible impact of the return to on-site work on the rising attrition rate within the sector.
“This is what our sector is fearing for,” said IT and Business Process Association of the Philippines president Jack Madrid at the recent webinar “ICT outlook for 2022: A Fuel for Economic Progress”.
“There is difficulty in finding enough people to fill roles. There is too much attrition in our industry, which has put pressure on our operations and there is also a misalignment of talent and supply,” he said.
The Philippines’ attrition rate is estimated between 30 percent and 40 percent, which is higher than normal attrition across all sectors and industries. Based on a survey conducted by the group during the pandemic, up to 14 percent of IT and business process management employees were looking to change jobs in the next three to six months.
The survey revealed that both entry-level and high-skilled jobs are in short supply, and employers are having difficulty attracting and retaining talent.