Philippine Software Industry Association (PSIA) said that more Filipino IT experts are coming back to the Philippines after working abroad. It was remembered that many Filipino professionals left the country to look for more rewarding jobs in other countries. According to PSIA, the rising number of Filipino IT experts returning to the country is triggered by the growth of business process outsourcing and information technology.
Multinational IT-BPO companies hired many Filipino IT professionals in the past years. According to Joey Gurango, Vice President of PSIA these [IT-BPO] companies prefer Filipinos to work with them. And now that these companies have outsourced and operate in the country, many Filipino employees were sent back where in they can better incorporate the language and culture however paid with the same rate they have been receiving abroad.
IT-BPO’s total revenue reached $55 billion in 2012 and is considered one of the fastest growing businesses in the country. Which is why Rosalinda Baldoz, Labor Secretary is urging student to look into IT courses to land in high-paying jobs. IT-BPO paying rates for now runs from P35,000 to P70,000 a month.
However the government also called into students to stop choosing college courses that are merely trending. This drive is to address the problem of skills and jobs mismatch in the country.
On the study of the Bureau of Local Employment (BLE) of the Department of Labor and Employment (DOLE), BPO and Information technology are two of the top high-paying jobs in the Philippines which include mining, creative industries, banking and finance and aviation.
The latest quarterly survey from Business Process Association of the Philippines (BPAP), recently known as Information Technology and Business Process Association of the Philippines (IBPAP), shows optimism and expects a continuous and sustained growth for the industry in the next 12 months. The industry seems to be very driven in increasing workforce despite the heightened issue on the availability of adequate knowledge of workers.
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Covering the survey conducted by BPAP is 179 executives athwart over 20 IT-BPO and shared groups. With this, there was a high observance on opportunities talking about shift from voice-based process services to more diverse and high-value knowledge-based services.
Data from the survey presented that IT-BPO companies were able to surpass the previous year’s revenues up to 22%. On figures, the industry created $13.5 billion in revenues and even went over the target of $13 billion last year.
The country’s IT-BPO industry has continued to develop since 2009 and even in motion going up by increasing its current number of workforce. And with the emergence of new services, the Philippine information technology and business process management (IT-BPM) and global in-house center suppose more opportunities in the global outsourcing and to generate $16 billion in revenues this 2013.
Reports was able to conclude that stability for BPO revenues are indeed consistently going higher with employment record of 720,000 entering 2013. The momentum of industry growth is viewed healthy for the country.