The IT and Business Process Management sector can generate 1.1 million new jobs over the next 6 years, an industry group said on Wednesday.
This would effectively double the industry’s existing workforce of around 1.4 million.
The sector can also grow 7 to 8 percent in terms of full-time employees, and 8 to 10 percent in terms of revenue by the end of 2022, according to the IT and Business Process Association of the Philippines (IBPAP).
Industry leaders, however, also said these will depend on how the Philippines, as a whole, addresses challenges in upskilling, reskilling, learning laws, IT infrastructure, and regulation.
IBPAP President Jack Madrid, said the most critical challenge is the “talent war” amid the mismatch of supply and demand for IT professionals.
“We are in a global war for talent. The fact we have a young population, the fact that our countryside, not just Manila, has excellent schools, we have an opportunity to maybe do a better job of upskilling and reskilling our graduates.”
Madrid said the sector needs the “full support of government to make this happen.”
He said the impact of the COVID-19 pandemic, as well as the learning loss associated with the 2-year break in face-to-face learning, could put a strain on human resources down the road.
“It is important to address them now the new administration has expressed willingness to address this skills gap,” Madrid said.
He said that as the country improves its infrastructure, it also needs to bridge the skills gap of its workforce to attract investments. Madrid said it is important the current administration, as well as the private sector and the academe come together to address the skills gap as soon as possible.
“Even if we have the infra, legislation that our investors want, there will be no jobs if we do not have the quality of skills in demand by the rest of the world.”
He said the ability of the Philippines to generate skilled workers for the IT-BPM industry is important for the sector to move forward amid competition from other countries for these services.
“The growth of the industry will be intact, but it is a question of how much market share we will garner, because there is a lot of demand, even through the second half of this year, for Filipino Talent.”
IBPAP is also batting for the sector to retain flexible work arrangements.
Madrid said employees will continue to demand work-from-home, or work-from-anywhere options, and Filipino IT-BPO companies must be allowed to offer them.
“We need to show the world that we are serious and that we are ready to enact a more permanent work from home, work from anywhere law, not just for the IT industry but many other industries will also benefit from this,” he said.
He added that the mix of onsite and remote work must be determined by the needs of the client, the company, and the workforce.
“We seem to be leading the charge on what the future of work will look like and again there is no one size fits all.”
The sector’s roadmap, including revenue targets, will be revealed at the IBPAP’s 14th International Innovation Forum at the end of September.
