Philippine IT-BPM industry on track for 1.7M jobs in 2023

MANILA, PHILIPPINES — The Information Technology and Business Process Management (IT-BPM) industry in the Philippines is on track to reach 1.7 million jobs by the end of 2023, said IT and Business Process Association of the Philippines (IBPAP) President and CEO Jack Madrid.

In an interview with ANC’s Market Edge, Madrid noted that the sector started the year by opening 1.57 million jobs for Filipinos, setting the stage for the 1.7 million year-end target and 2.5 million job count by 2028. 

He also emphasized the “unceasing demand” for more work and jobs for Filipinos in the year ahead, with only India and the Philippines having the demographic profile and leverage to take advantage of the potential surge in jobs from North America and Europe

However, the IBPAP chief also acknowledged a talent gap, with more demand than the industry can supply. This gap is due to a significant demand curve and a skills gap that resulted in a job skills mismatch. 

To address these challenges, the industry is initiating partnerships with government partners such as the Commission on Higher Education (CHED), Technical Education And Skills Development Authority (TESDA), the Department of Education (DepEd), and the Department of Information and Communications Technology (DICT) to update and modernize the curriculum for future job seekers. 

Madrid also emphasized the importance of upskilling and reskilling to keep pace with technology and remain relevant in the rapidly evolving IT-BPM industry

Meanwhile, IBPAP is set to launch a rebranding campaign this month to help change the narrative around IT and Business Process Management (BPM) roles in the Philippines. 

Madrid explained that the rebranding aims to attract more Filipinos to the industry and reposition the image and perception of it as a “long-term career path for future job seekers and as well as the existing workforce.”