March 9, 2012, Manila, Philippines. The local BPO industry needs 1.1 million skilled and talented employees within the next four years to meet the industry target of $25 billion in revenues in 2016.
SPi Global President and CEO Maulik Parekh said that is the challenge on the supply side of the BPO business.
“We are on a trend to supply only 580,000 people in the next four years. We need support to reach the industry goal of $25 billion (by 2016),” he said during the recent Philippine Economic Forum held by the Bangko Sentral ng Pilipinas (BSP).
The forum was attended by analysts, journalists, representatives from government and the private sector, as well as other stakeholders.
Parekh praised the efforts and support of the government over the past few years, especially the funds allocated to TESDA to help train potential BPO employees. And yet, he said “we need to make significant changes in our strategy to support the growth of the industry.”
“I think we need to promote the BPO career as the career of choice. The BPO industry today offers opportunities that are quite complementary to what the OFWs are doing. It gives opportunities to educated Filipinos by allowing them to pursue a thriving career without having to leave their homeland, their families, and their friends,” said Parekh.
“I believe the time has come for us to recognize our BPO workers bilang mga bagong bayani,” he added.
He urged for the continued support of TESDA and other government agencies not only for voice but also non-voice services.
Parekh said meeting the BPO industry’s target of $25 billion in revenues by 2016 will require the intelligent exploitation of promising pockets of growth.
“We have to focus on non-voice. We have to tap financial and accounting services, procurement, IT services. We need to go into the verticals of healthcare and content solutions or publishing,” he said.
The predicted explosive growth in the demand for BPO services will also require a new batch of leaders.
“We always focus on the entry level people and whether we can get them or not. But when we have close to 1.3 million working in the industry, do we have enough leaders highly skilled in mentoring the others to the next level?” said Parekh.
He also urged the government to support the industry through a more strategic incentives regime, saying that “we should not look at our incentives in absolute terms, but in relative terms, how they compare to the competition, other countries.”
More marketing support through more roadshows, for example, can also help. The government’s continued pursuit of good governance is essential. The passage of BPO-friendly bills will also strengthen the industry, according to Parekh.
Members of the panel discussion in the forum and other BPO industry representatives included: San Miguel Corporation Chief Finance Officer Ferdinand Constantino, Philippine Travel Agencies Association President Aileen Clemente, Asian Development Bank Vice President Stephen Groff, BSP Governor Amando Tetangco Jr., Finance Secretary Cesar Purisima, National Economic and Development Authority Secretary Cayetano Paderanga Jr., Budget Secretary Florencio Abad, Trade and Industry Secretary Gregory Domingo, Energy Secretary Jose Rene Almendras, Public Works Secretary Rogelio Singson, Agriculture Secretary Proceso Alcala, Transport and Communications Undersecretary Rene Limcaoco, Ayala Corp. Managing Director John Eric Francia, JG Summit Holdings Inc. President and CEO Lance Gokongwei, Chamber of Furniture Industries of the Philippines Vice President and Corporate Secretary Nicolaas De Lange, Management Association of the Philippines President/Director Eduardo Francisco.
About SPi Global
SPi Global, BPO Company of the Year in the 2011 International ICT Awards, is a leading globally recognized, full-service BPO provider with 30 offices and facilities around the world, including the US, Netherlands, Philippines, India, Vietnam and Australia. It has over 18,000 employees delivering a wide range of solutions in Customer Relationship Management, Content, and Healthcare.
SPi Global is a wholly owned subsidiary of the Philippine Long Distance Telephone Company (PLDT), the leading telecommunications provider in the Philippines. PLDT is listed on the Philippine Stock Exchange (PSE: TEL), and its American Depositary Shares are listed on the New York Stock Exchange (NYSE:PHI).
For more information, visit http://www.spi-global.com.
Contact : May Dizon
Director, Corporate Communications