Outsourcing to the Philippines: The Philippine IT-BPM Industry Projects Up to 1.1 Million Jobs through 2028
IT-BPM sectors are largely delegating IT-enabled services through outsourcing offshore or remotely to meet the demands of the market.
Global talent network Andela surveyed 100 CTOs and VPs of Engineering from a combination of high-growth startups (above 200 employees) and large enterprises. Its Remote Engineering survey found that prior to Covid, 13% of engineering teams were fully remote. As a result of the pandemic, that number has increased to 74%.
Philippine IT-BPM: A Growing Industry
The Philippine Business Process Outsourcing, particularly the Philippine Information Technology – Business Process Management (IT-BPM) Industry, is an example of an offshore industry, and a key factor contributing to the Philippines’ economic growth.
The Philippine IT-BPM industry projects up to 1.1 million direct jobs in the next six years.
The Philippine Information Technology and Business Process Management (IT-BPM) industry, also helps promote growth in the BPO industry through hiring outside Manila, the country’s capital.
In fact, 54 percent of the 1.1 million job target will be in the countryside. This will bring the sector’s total headcount to 2.5 million by 2028. The industry also has a forecasted growth rate of 8.5 percent.
The industry also has the potential to nearly double in size as its annual revenue is likely to reach $59 billion in 2028, reflecting a compound annual growth rate of 10.4 percent.
What IT-BPM Jobs are In-Demand?
The Philippines is a global destination where businesses can easily outsource services or hire and build a remote team of highly literate and experienced IT professionals.
The following are among the list of Cross-cutting In-Demand and Hard-to-Fill Occupations in the Information Technology – Business Process Management (IT-BPM) Key Employment Generator (KEG):
- Accountant
- Animator
- Business Analyst
- Call Center Agent
- Computer Programmer
- Customer Service Associate
- Customer Service Representative
- Data Scientist
- Graphic Designer
- Human Resource Manager
- Information Technology (IT) Specialist
- Management Information Analyst
- Manager
- Medical Transcriptionist
- Real Estate Broker
- Software Developer
- Website Designer
- Website Developer
You can fill these in-demand Information Technology – Business Process Management roles when you outsource offshore from the Philippines.
IT-BPM Industry Growth
IBPAP said the number of full-time employees (FTEs) in the country increased by 71,000 bringing the total industry headcount to 1.3 million, up 5.8 percent from 1.23 million in 2018.
IT-BPM revenues and employment grew in 2019. In a statement by the Information Technology and Business Process Association of the Philippines (IBPAP), revenues of the information technology and business process management (IT-BPM) industry grew by 7.1 percent to $26.3 billion last year from $24.5 billion in 2018.
In addition, the number of full-time employees (FTEs) of the sector in the country increased by 23,000 in 2020, increasing the total industry headcount to 1.32 million.
In 2021, the industry grew by 9.1 percent, or by 120,000 FTEs year-on-year, bringing the total number of IT-BPM workers in the country to 1.44 million amid the implementation of remote working setup and the continued economic recovery from the Covid-19 pandemic.
Find the Right IT-BPM Staff with Connext Global Solutions
Connext Global Solutions is an established business process outsourcing partner that provides flexible and scalable solutions that unlocks client growth.
Connext Global Solutions can create the value of an offshore subsidiary at any scale Typical outsourcing firms require a minimum commitment of a minimum of 5 up to 50 employees. Connext ensures that the client is getting the highest level of talent for the required position.
Work with Connext today.
Learn how the thriving IT-BPM sector in the Philippines is creating job opportunities. Visit our blog to explore the growth and future prospects of outsourcing in this dynamic industry.
References:
dole.gov.ph. The Department of Labor Employment (DOLE) JobsFit 2022 Labor Market Information Report. Department of Labor and Employment.
Andrea E. San Juan. “IBPAP projects 1.1-million direct countryside jobs in next 6 years”. Business Mirror. https://businessmirror.com.ph/2022/09/29/ibpap-projects-1-1-million-direct-countryside-jobs-in-next-6-years/. September 29, 2022. Accessed September 28, 2022.
Katlene O. Cacho. “IT-BPM roadmap 2028 to add 1.1M new jobs, $59B revenues”. Yahoo News Philippines. https://ph.news.yahoo.com/bpm-roadmap-2028-add-1-105600717.html. September 28, 2022. Accessed September 28, 2022.
Anna Leah E. Gonzales. “IT-BPM revenues, employment rise in 2019”. Manila Times. https://www.manilatimes.net/2020/05/15/business/companies/it-bpm-revenues-employment-rise-in-2019/724915. May 15, 2020. Accessed September 28, 2022.
Aleta Nieva Nishimori. “IT-BPM sector posts 2020 growth despite pandemic pinch”. ABS-CBN News. https://news.abs-cbn.com/business/04/24/21/it-bpm-sector-posts-2020-growth-despite-pandemic-pinch. April 24 2021. Accessed September 28, 2022.
