Thursday, June 20, 2024

IT-BPM industry projects 1.1 million new jobs by 2028 

After enduring the economic instability at the height of the pandemic, the country’s IT and Business Process Management sector expects a single-digit improvement or 8% in full-time employees (FTEs) and double-digit growth to 10% in earnings.

IBPAP IIS 2022 forum summit Philippines September Sofitel
File photo shows leaders of the local IT-BPM industry discussing vital issues during a conference

Beyond the workforce and revenue headway, the IT-BPM industry in the Philippines is also geared towards advancing investments and imports to meet the broader goals set in the “Philippine IT-BPM Industry Roadmap 2028” which will be officially launched at the 14th International Innovation Summit (IIS) this September.  

The annual summit builds the record-high growth which the sector saw in 2021, and along with the forecasted figures for 2022, is poised to achieve 1.1 million in new employment opportunities after six years.  

This vision will depend on several conditions: supportive government policies on remote work, better infrastructure, active upskilling and reskilling initiatives, more competitive value proposition versus other countries, and a heightened investor interest.   

“The Philippine IT-BPM sector will take a big leap and continue to trailblaze with digital talent, new ecosystems, and enlightened legislation through an ESG-driven agenda,” said Jack Madrid, president and CEO of IT and Business Process Association of the Philippines (IBPAP). 

For this year’s iteration of the IIS, the theme will be “The Big PH IT-BPM Leap: Growth. Resurgence. Impact. Transformation,” focusing on topics like strengthening ESG agenda, identifying the global trends and challenges affecting the domestic IT-BPM industry, the impact of hybrid work to the overall employee experience, and many more.  

“There is no doubt that the industry will demonstrate grit as it drives to contribute to economic growth, achieve a resurgence across the different subsectors, create more impact in the lives of more Filipinos, and become an engine of transformation that promises an even brighter future for the country,” he added.  

The three-day conference will put the spotlight on the industry’s growth potential in headcount and revenues by 2028 on Day 1, followed by panel discussions on – infrastructure, hybrid work, and talent development practices for Day 2, and will conclude with dialogues involving government leaders on potential ways to advance the IT-BPM business in the country for Day 3.  

“The Philippine IT-BPM sector will create more impact through countryside development, digitally-enabled services, dollar revenue, high-complexity work, and indirect employment. We’re excited to reveal more at IIS 2022 through keynotes and plenaries on talent strategies, changing workways, key action plans, and many more,” Madrid continued.  

The event is expected to be attended by members from the government, the academe, and the business sector. All three days will be held via the virtual platform of Airmeet, with the final day simultaneously being hosted at the Sofitel Philippine Plaza Manila hotel.  

“The road ahead is long, but the Philippine IT-BPM sector is ready to take that big leap with the support of our partners in the government and the academe. As an industry, we stand strong and will continue to do so because we are fueled by grit and our collective goal of strengthening the country’s position as one of the top IT-BPM investment destinations in the world,” concluded Madrid.  


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