The Business Process Outsourcing (BPO) industry produced one million jobs in 2014 and generated $18 billion (P805.5 billion) earnings, which could grow to $25 billion (P1.118 Trillion) in 2016, an association official said on Wednesday.
Danilo Reyes, Chairman of the Information Technology and Business Process Association of the Philippines (IBPAP), said the BPO industry aims to create 12.3 million jobs in the Philippines by 2016.
“BPO industry reached one million BPO jobs in 2014. This is significant, especially when the BPO industry began in the Philippines with only 2,000 employees 16 years ago,” Reyes said during 2015 Asia BPO Summit.
The BPO industry is one of the major employers in the country and its earnings are almost comparable to the remittances of overseas Filipino workers. But many BPO companies complain of high employee turnover.
Darcy Lalonde, Chief Executive Officer of Shore Solutions, said people should get proper training for BPO jobs.
“Filipinos are extremely tech-savvy and the BPO industry has to harness their talent and put it to good use,” said Pushkar Misra, Chief Executive Officer of Hinduja Global Solutions.
Marcel Greutmann, General Manager of the Services Integration Hub East of IBM, said many of the recent innovations in the BPO industry are in the “mobile sphere.”
He said there has been a greater demand for innovations in mobile technology such as mobile phones, tablets, and others.
“Technology is moving at a very rapid pace, changing the way people do business,” said Jibin Arjunan, Geographic Head of Asia Pacific and Japan Wipro BPS. “We are at the cusp of a digital industrial revolution.