IT and Business Process Association of the Philippines (IBPAP) President Jack Madrid believes that the Philippines could double its Business Process Outsourcing (BPO) workforce by providing the right set of incentives.
In a statement, Madrid said that they are expecting to have about 2.5 million outsourcing employees in the country by 2028.
Amidst the COVID-19 pandemic, the industry contributed at least seven per cent to the Philippine economy. This is higher compared to other industries which struggled to grow and contribute to economic stability.
“The message that I like to always deliver is how indispensable the ITBPM [IT-business process management] industry as an economic pillar is to our economy,” stated Madrid.
Meanwhile, the IBPAP chief noted that the future of work holds the key to the sustained growth of the IT-BPM industry. Quoting a recent survey, he emphasized that 80% of BPO employees want to keep working from home or have a hybrid setup.
“The future of work is already happening, and it’s going to be hybrid. Otherwise, we will not grow. I think it’s all about flexibility,” Madrid concluded.