The information technology-business process management (IT-BPM) targets to cross 2 million in full-time employees by 2025, a meaningful feat that could be challenged by scarcity in talent.
Jack Madrid, president and chief executive officer of the Information Technology and Business Process Association of the Philippines (IBPAP) told reporters the Department of Justice (DOJ) opinion that strips incentives to companies implementing work-from-home outside economic zones could damage the reputation of the industry and the country where the rules are changed in the middle of the game.
Madrid also warned that without the flexibility to WFH, Filipinos would be discouraged to work in IT-BPM at a time when the industry is suffering from lack of talent.
Madrid said WFH would allow the Philippine IT-BPM industry with that of its fiercest rival, India which recently announced an extension of WFH privileges until the end of 2024.
On the average, 60 percent of jobs in local IT-BPM are done off-site.
Madrid said the industry ended last year with 1.7 million direct jobs for Filipinos and would add 100,000 in 2024 to 1.84 million.
Madrid expects revenues to grow 7 to 8 percent to $39 billion in 2024 after growing 8 percent to $35 billion in 2023 from 2022.
“ I’m excited about 2025 because this is when we will cross the 2-million jobs level. That’s quite significant. It took almost 20 years to hit 1 million jobs and we’re attempting to do the second million in less than in less than six,” Madrid said.