Talent shortage due to lack of appropriate skills remains a challenge for the information technology-business process management (IT-BPM) industry, a scenario that puts at risk the sector’s aim of adding 1.1 million direct jobs and 2.7 million indirect jobs by 2028.
The roadmap of the industry undertaken by Everest showed 60 percent of organizations in the IT-BPM service delivery industry in the Philippines state upskilling existing workforce as their top-most priority.
“Almost all organizations iterated the need for a continuous supply of quality and skilled talent at reasonable cost as the most critical engine for future growth of the Philippine IT-BPM services industry. While companies are optimistic about their future growth, they see talent shortage (especially digital-ready talent) as one of the biggest concerns and hindrances to their growth,” the roadmap said.
As it is, the Philippines is the second largest services delivery location, with a 16 to 18 percent share of the global IT-BPM services industry by headcount. As of 2022, the industry was estimated to have 1.5 to 1.6 million full time employees (FTEs).
By 2028, the roadmap eyes 2.8 million FTEs.
The roadmap also aims to increase the revenue per FTE by 13 percent by taking on high-complexity/high skill category jobs .
The importance of talent availability is especially important as for every one IT-BPM job created, the industry also creates 2.5 additional indirect jobs.
This means the additional 1.1 million jobs in the IT-BPM services industry by 2028 will further add another 2.7 million jobs in other sectors, the roadmap said.
Of the 1.1 million, more than half are to be created outside Metro Manila.
To ensure sustainable supply of skilled talent, roadmap called for the following: revising the existing curriculum; introducing new and future-relevant educational courses, strengthening training programs, and proactively positioning IT-BPM as a preferred career option.
