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Tuesday, February 27, 2024

BPO industry expects to offer additional 1.1m jobs until 2028

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The information technology and business process management industry is aiming for a 10-percent annual growth in export revenue and 8-percent increase in direct hiring that may result in additional 1.1 million jobs until 2028, a group said Monday.

The Contact Center Association of the Philippines said it re-calibrated the industry’s output projections to align with the economic recovery goals set by the administration of President Ferdinand Marcos Jr.

“There is a surge in global market demand, driving double digit growth prospects for Philippine IT-BPM. If we collectively support the industry to capitalize on this global demand, it can mean up to an additional 1.1 million more high-value, high-paying jobs for Filipinos over the next six years. This is clearly an exciting time for the industry,” said CCAP chairman Benedict Hernandez.

Hernandez said the organization counts on government support to help reach the targets while the industry committed to being a partner for high-value job creation and national economic recovery.

Data from global research firm Everest Group showed that the local IT-BPM industry’s headcount grew by 10 percent in 2021 or over 120,000 jobs from a year ago—its strongest since 2016. The industry’s labor force also managed to grow 5 percent in 2020 despite the pandemic.

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The momentum is expected to be sustained this year, according to CCAP.

Industry data showed that the industry’s revenues expanded to $29.5 billion in 2021 from $26.7 billion in 2020 and $26.3 billion in 2019. The industry’s annual revenue steadily grew from just $8.9 billion in 2010.

Hernandez said CCAP pledged to continue addressing the untapped service opportunities, getting into new client markets and building more infrastructure targeting fast-growing tech companies more aggressively.

“The contact center sector has demonstrated tremendous agility and resiliency to effectively deliver world-class customer experience management services to global and domestic clients throughout the pandemic,” Hernandez said.

The group will unveil new measures to keep the growth momentum in the upcoming Contact Islands 2022, an annual event hosted by CCAP. The event will be held at the Crimson Resort and Spa in Boracay Island from Oct. 19 to 21.

It will also reiterate its call for clear government policy on flexible work arrangements, the strengthening of PEZA as true “one-stop-shop” for administration, compliance and reporting matters with respect to registered business entities.

“CCAP and its members continue to work to maintain the Philippines’ status as the best provider of customer experience management services through the country’s growing stable of world-class and up-skilled talent,” Hernandez said.

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